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
R W MARSHALL FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2622
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CLARKSVILLE, IN47131

A Employer identification number

81-0828742

B Telephone number (see instructions)

(502) 562-7309

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

$5,266,161J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	122,879		122,879
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		522,555
b	Gross sales price for all assets on line 6a 961,540
7	Capital gain net income (from Part IV, line 2)...			522,555
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).......
12	Total. Add lines 1 through 11........	645,434		645,434
13	Compensation of officers, directors, trustees, etc.	20,000		5,000	15,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		1,500	0	1,500
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		2,707	1,863	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		17,008	16,894	114
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	41,215		23,757	16,614
25	Contributions, gifts, grants paid.......	229,701			229,701
26	Total expenses and disbursements. Add lines 24 and 25	270,916		23,757	246,315
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	374,518
b	Net investment income (if negative, enter -0-)			621,677
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.........	69,306	190,629	190,629
	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).......	2,236,485	2,079,020	4,378,167
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	0	410,728	697,365
	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)	2,305,791	2,680,377	5,266,161
	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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	2,305,791	2,680,377
	29	Total net assets or fund balances (see instructions).....	2,305,791	2,680,377
	30	Total liabilities and net assets/fund balances (see instructions).	2,305,791	2,680,377

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

2,305,791

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

374,518

Other increases not included in line 2 (itemize) bullet

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

2,680,377

Decreases not included in line 2 (itemize) bullet

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

2,680,377

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	450 SHRS ASHLAND GLOBAL HLDGS		2002-08-09	2020-11-30
b	100 SHRS BERKSHIRE HATHAWAY INC		2004-12-08	2020-11-30
c	175 SHRS BRISTOL MYERS SQUIBB		2009-06-12	2020-11-30
d	1125 SHRS CANADIAN NATIONAL RAILWAY COMPANY		2004-12-08	2020-11-30
e	75 SHRS CHURCHILL DOWNS INC		2002-01-10	2020-11-30
	850 SHRS COCA COLA CO		2004-12-08	2020-11-30
	91 SHRS CORTEVA INC		2004-12-08	2020-11-30
	491 SHRS WALT DISNEY COMPANY			2020-11-30
	316 SHRS DOW INC		2004-12-08	2020-11-30
	366 SHRS DUPONT DE NEMOURS INC		2004-12-08	2020-11-30
	366 SHRS FOX CORP CL A		2019-03-29	2020-11-30
	125 SHRS JP MORGAN CHASE & CO		2004-12-08	2020-11-30
	200 SHRS NORFOLK SOUTHN CORP		2008-01-30	2020-11-30
	300 SHRS NOVARTIS A G SPONSORED ADR		2009-06-12	2020-11-30
	200 SHRS PNC BANK CORP		2004-12-08	2020-11-30
	875 SHRS PEPSICO INC		2004-12-08	2020-11-30
	50 SHRS PROCTER & GAMBLE CO		2008-01-30	2020-11-30
	1325 SHRS UNION PACIFIC CORP		2004-12-08	2020-11-30
	250 SHRS VENTAS INC		2004-12-08	2020-11-30
	5 SHRS WESTINGHOUSE AIR BRAKE TECHNOLOGIES		2019-02-26	2020-11-30
	450 SHRS WELLS FARGO & CO		2006-09-13	2020-11-30
	120 SHRS ALCON INC		2009-06-12	2020-11-30
	.62 SHRS RAYTHEON TECHNOLOGIES CORP		2008-01-30	2020-05-15
	325 SHRS OCCIDENTAL PETE CORP		2004-02-08	2020-11-30
	467 SHRS RAYTHEON TECHNOLOGIES CORP		2008-01-30	2020-11-30
	18 SHRS VIATRIS INC		2004-12-08	2020-11-30
	0.61 SHRS VIATRIS INC		2004-12-08	2020-12-14
	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	34,120	5,542	28,578
b	22,885	3,701	19,184
c	10,878	3,492	7,386
d	120,551	16,182	104,369
e	13,494	878	12,616
	43,528	17,140	26,388
	3,453	2,253	1,200
	72,341	15,389	56,952
	16,934	15,278	1,656
	23,274	25,991	-2,717
	10,531	14,922	-4,391
	14,838	4,679	10,159
	47,771	10,374	37,397
	27,224	11,052	16,172
	27,668	183,430	-155,762
	125,183	44,564	80,619
	6,855	3,239	3,616
	269,346	20,904	248,442
	12,117	5,924	6,193
	364	390	-26
	12,447	15,929	-3,482
	7,689	3,076	4,613
	33	17	16
	1,726	1,609	117
	33,544	12,808	20,736
	305	215	90
	10	7	3
	2,431		2,431

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			28,578
b			19,184
c			7,386
d			104,369
e			12,616
			26,388
			1,200
			56,952
			1,656
			-2,717
			-4,391
			10,159
			37,397
			16,172
			-155,762
			80,619
			3,616
			248,442
			6,193
			-26
			-3,482
			4,613
			16
			117
			20,736
			90
			3
			2,431

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	522,555
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	8,641
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	8,641
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	8,641
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	1,280
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	1,280
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	5
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	7,366
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax	Refunded	11

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?........

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

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

ROBERT WOOD MARSHALL Telephone no. bullet

(502) 562-7309

Located at bullet

PO BOX 2622CLARKSVILLEIN ZIP+4 bullet

47131

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-)
ROBERT W MARSHALL	PRESIDENT, DIRECTOR 6.00	10,000
PO BOX 2622 CLARKSVILLE,IN47131	PRESIDENT, DIRECTOR 6.00	10,000
TRACY MARSHALL	TREASURER, DIRECTOR 5.00	10,000
PO BOX 2622 CLARKSVILLE,IN47131	TREASURER, DIRECTOR 5.00	10,000

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

4,614,991

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

111,145

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

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

4,726,136

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

4,726,136

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

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

70,892

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

4,655,244

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

232,762

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

232,762

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

8,641

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

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

8,641

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

224,121

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

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

224,121

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

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

224,121

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 ..........

246,315

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

246,315

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

246,315

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				224,121
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			243,130
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: $ 246,315
a Applied to 2019, but not more than line 2a			243,130
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.....				3,185
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 ..........				220,936
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 email address of the person to whom applications should be addressed:

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

cAny submission deadlines:

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

Form 990-PF (2020)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
NORTON HOSPITALS INC 224 E BROADWAY 5TH FLOOR LOUISVILLE,KY40202	N/A	PUBLIC CHARITY	ST. MATTHEWS CAMPUS	15,001
OUR LADY OF PROVIDENCE HIGH SCHOOL 707 PROVIDENCE WAY CLARKSVILLE,IN47129	N/A	RELIGIOUS - SCHOOL	EDUCATIONAL SUPPORT	50,000
PRAGER UNIVERSITY FOUNDATION 15021 VENTURA BLVD 552 SHERMAN OAKS,CA91403	N/A	PUBLIC CHARITY	PROGRAM SUPPORT	25,000
RONALD MCDONALD HOUSE CHARITIES OF KENTUCKIANA INC 550 S FIRST ST LOUISVILLE,KY40202	N/A	PUBLIC CHARITY	PROGRAM SUPPORT	114,700
PRISON FELLOWSHIP MINISTRIES 44180 RIVERSIDE PARKWAY LANSDOWNE,VA20176	N/A	PUBLIC CHARITY	PROGRAM SUPPORT	10,000
CENTER FOR LAY MINISTRIES 213 E MAPLE ST JEFFERSONVILLE,IN47130	N/A	PUBLIC CHARITY	PROGRAM SUPPORT	15,000
Total ................................. 3a				229,701

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 ...........
4 Dividends and interest from securities....			14	122,879
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	522,555
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)..		0		645,434	0

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

645,434

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2020)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEES	1,450	0		1,450
TAX DOCUMENT FEE	50	0		50

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Name of Stock	End of Year Book Value	End of Year Fair Market Value
450 SHRS ABBOTT LABS COM	10,063	49,269
450 SHRS ABBVIE INC	10,912	48,216
350 SHRS ACTIVISION BLIZZARD INC	27,593	32,498
50 SHRS ADOBE SYSTEMS INC	23,752	25,006
600 SHRS ALTRIA GROUP INC	8,054	24,600
15 SHRS AMAZON.COM INC	47,399	48,854
125 SHRS AMERICA TOWER CORP	28,714	28,056
125 SHRS AMGEN INC	27,520	28,740
350 SHRS ASHLAND GLOBAL HLDGS INC	4,310	27,720
2527 SHRS ATT INC	83,149	72,677
2300 SHRS BANK OF AMERICA CORPORATION	55,545	69,713
1 SHR BERKSHIRE HATHAWAY INC DEL CL A	55,462	347,815
600 SHRS BOEING CO	31,920	128,436
625 SHRS BRISTOL MYERS SQUIBB CO	12,469	38,769
75 SHRS CHARTER COMMUNICATIONS	4,400	49,616
2000 SHRS CHEVRON CORPORATION	104,160	168,900
1125 SHRS CHURCHILL DOWNS INC	13,193	219,139
2450 COCA COLA CO	49,404	134,358
1250 SHRS CONOCOPHILLIPS	40,323	49,987
675 SHRS CORTEVA INC	10,922	26,136
150 SHRS CROWN CASTLE INTL CORP	24,835	23,879
125 SHRS DARDEN RESTAURANTS INC	13,420	14,890
450 SHRS DOW INC	10,451	24,975
600 SHRS DUKE ENERGY CORP	23,088	54,936
400 SHRS DUPONT DE NEMOURS INC	11,800	28,444
1300 SHRS EXXON MOBIL CORP	64,337	53,586
225 SHRS FORTINET INC	27,610	33,419
950 SHRS GENERAL ELEC CO	24,054	10,260
50 SHRS HOME DEPOT INC	13,750	13,281
1450 SHRS INTEL CORPORATION	23,401	72,239
1275 SHRS JP MORGAN CHASE & CO	47,722	162,014
150 SHRS JOHNSON & JOHNSON	9,169	23,607
300 SHRS KIMBERLY CLARK CORP	15,103	40,449
200 SHRS LINDE PLC	32,690	52,702
350 SHRS MARATHON PETROLEUM CORP	1,565	14,476
600 SHRS MICROSOFT CORP COM	16,281	133,452
400 SHRS MONDELEZ INTERNATIONAL INC	5,182	23,388
850 SHRS NORFOLK SOUTHERN CORP	44,090	201,969
50 SHRS NVIDIA CORP	26,453	26,110
2600 SHRS OCCIDENTAL PETROLEUM CORP	68,230	45,006
1825 SHRS PEPSICO INC	92,947	270,648
150 SHRS PFIZER INC	3,873	5,522
600 SHRS PHILIP MORRIS INTL INC	18,353	49,674
600 SHRS PHILLIPS 66	12,206	41,964
550 SHRS PNC BANK CORP	440,987	81,950
750 SHRS PROCTER & GAMBLE CO	48,608	104,355
1050 SHRS RAYTHEON TECHNOLOGIES CORP	28,796	75,086
100 SHRS STRYKER CORP	23,405	24,504
500 SHRS TRUIST FINANCIAL CORP	11,574	23,965
1250 UNION PAC CORP COM	19,720	260,275
600 SHRS UNITED PARCEL SERVICE INC CL B	43,770	101,040
75 SHRS UNITEDHEALTH GROUP INC	25,105	26,301
2196 SHRS VALVOLINE INC	9,867	50,815
1250 SHRS VERIZON COMMUNICATIONS COM	46,385	73,438
125 SHRS VISA INC CL A	26,175	27,341
2625 WALT DISNEY COMPANY	62,173	475,598
125 SHRS WYNN RESORTS LTD	12,581	14,104

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
979.739 SHRS MFS INTERNATIONAL VALUE I	AT COST	54,365	53,464
3073.286 SHRS ROYCE INTERNATIONAL PREMIER INSTL	AT COST	52,000	54,213
300 SPDR GOLD TRUST	AT COST	50,121	53,508
100 SHRS ALIBABA GROUP HOLDING - SP ADR	AT COST	26,531	23,273
150 SHRS DIAGEO PLC	AT COST	6,101	23,822
300 SHRS NOVARTIS A G SPONSORED ADR	AT COST	11,052	28,329
4574.779 SHRS GQG PARTNERS EMERGING MARKETS EQUITY INST	AT COST	78,000	82,117
425 SHRS VANGUARD RUSSELL 2000 GROWTH	AT COST	81,311	88,634
2375 SHRS CANADIAN NATIONAL RAILWAY COMPANY	AT COST	34,161	260,894
910 SHRS ENBRIDGE INC	AT COST	17,086	29,111

- TIN:

TY 2020 OtherExpensesSchedule

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
PO BOX	92	0	92
INVESTMENT SERVICE FEE	16,894	16,894	0
IN SOS FILING FEE	22	0	22

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Description	Amount
NONDIVIDEND DISTRIBUTIONS	68

- TIN:

TY 2020 TaxesSchedule

Name:

R W MARSHALL FOUNDATION INC

EIN:

81-0828742

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX EXPENSE	1,863	1,863		0
2020 TAX ESTIMATE	844	0		0