TY 2020 Form 990PF

- TIN:

Form990-PF
Click to see attachment

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 W DUKE KIMBRELL FAMILY FOUNDATION
CO JULIA B SINGH

Number and street (or P.O. box number if mail is not delivered to street address)531 COTTON BLOSSOM CIRCLE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
GASTONIA, NC28054

A Employer identification number

20-3390787

B Telephone number (see instructions)

(704) 874-5105

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

$33,698,968J 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...	697,166		697,166
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-176,230
b	Gross sales price for all assets on line 6a 18,312,178
7	Capital gain net income (from Part IV, line 2)...
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).......		26,568	26,568
12	Total. Add lines 1 through 11........	547,504		723,734
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		101,077	99,077	2,000
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		4,589	896
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	105,666		99,973	2,000
25	Contributions, gifts, grants paid.......	1,801,921			1,801,921
26	Total expenses and disbursements. Add lines 24 and 25	1,907,587		99,973	1,803,921
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,360,083
b	Net investment income (if negative, enter -0-)			623,761
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.........	1,074,081	567,292	567,292
	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)	2,097,222	2,174,611	2,248,797
	b	Investments—corporate stock (attach schedule).......	13,397,000	10,684,312	15,858,119
	c	Investments—corporate bonds (attach schedule).......	9,299,065	10,068,414	10,646,476
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,214,380	4,227,036	4,378,284
	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)	29,081,748	27,721,665	33,698,968
	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
		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........	29,081,748	27,721,665
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	29,081,748	27,721,665
	30	Total liabilities and net assets/fund balances (see instructions).	29,081,748	27,721,665

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

29,081,748

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

-1,360,083

Other increases not included in line 2 (itemize) bullet

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

27,721,665

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 .

27,721,665

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	MARKETABLE SECURITIES	P	2000-01-01	2020-12-31
b	Capital Gain Dividends
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	18,152,225	18,488,408	-336,183
b			159,953
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-336,183
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-176,230
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	8,670
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
3	Add lines 1 and 2...........................	3	8,670
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	8,670
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	21,600
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	21,600
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
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	12,930
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax12,930	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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

JULIA B SINGH Telephone no. bullet

(704) 874-5105

Located at bullet

531 COTTON BLOSSOM CIRCLEGASTONIANC ZIP+4 bullet

28054

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2020?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

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

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

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2020.)..................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?

Form 990-PF (2020)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

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

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
JULIA B SINGH	FOUNDATION DIR 0.00	0
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FOUNDATION DIR 0.00	0
PAMELA K WARLICK	FAMILY DIRECTOR 0.00	0
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FAMILY DIRECTOR 0.00	0
SHEPARD K HALSCH	FAMILY DIRECTOR 0.00	0
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FAMILY DIRECTOR 0.00	0

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

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

30,607,843

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

1,682,537

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

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

32,290,380

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

32,290,380

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

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

484,356

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

31,806,024

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

1,590,301

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

1,590,301

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

8,670

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

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

8,670

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

1,581,631

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

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

1,581,631

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

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

1,581,631

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 ..........

1,803,921

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

1,803,921

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

1,803,921

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	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7			1,581,631
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......
b Total for prior years:20, 20, 20
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........
4Qualifying distributions for 2020 from Part
XII, line 4: $ 1,803,921
a Applied to 2019, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2020 distributable amount.....			1,581,631
e Remaining amount distributed out of corpus		222,290
5 Excess distributions carryover applied to 2020.
(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		222,290
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
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) .......
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		222,290
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....	222,290

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
GASTON DAY SCHOOL 2001 GASTON DAY SCHOOL ROAD GASTONIA,NC28056	NONE	PC	TAX EXEMPT EDUCATIONAL PURPOSE OF THE SCHOOL	201,921
GASTON COMMUNITY FOUNDATION PO BOX 123 GASTONIA,NC28053	NONE	PC	EXEMPT CHARITABLE PURPOSE OF THE ORGANIZATION	1,500,000
DANIEL STOWE BOTANICAL GARDEN FOUND 6500 SOUTH NEW HOPE RD BELMONT,NC28012	NONE	PC	EXEMPT CHARITABLE PURPOSE OF THE ORGANIZATION	100,000
Total ................................. 3a				1,801,921

bApproved for future payment

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

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	697,166
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	-176,230
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aINVESTMENT PARTNERSHIPS			14	26,568
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				547,504

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

547,504

(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:	20011551
Software Version:	2020v4.0

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Name of Bond	End of Year Book Value	End of Year Fair Market Value
JB HUNT TRANSPORT	75,811	86,122
HEALTHCARE TRUST OF AMERICA	69,702	79,349
VERIZON OWNER TRUST	49,997	51,614
VERISK ANALYTICS	65,875	73,632
COMM MORTGAGE TRUST 8/10/55	10,275	11,014
BROWN ADVISORY MORT SEC	2,110,654	2,238,735
ARTISAN HIGH INCOME	410,699	420,802
BROWN ADV TOTAL RETURN	1,230,565	1,318,282
ENTERPRISE PRODUCTS 5.250 8/16/2077	84,044	82,089
AMERICREDIT AUTO RCVBLES 2.730 03/08/21	54,990	57,918
HASBRO INC 3.500 09/15/2027	102,256	119,862
BP CAP MARKETS AMERICA 3.937 09/21/2028	80,705	93,197
ALEXANDRIA REAL ESTATE 4.700 07/01/2030	69,941	86,951
JPMBB COMM MORT SECS 07/15/2048	9,973	10,670
SANTANDER DRIVE AUTO	74,982	76,316
FMC CORP 3.200 10/1/26	80,418	89,098
THERMO FISHER SCIENTIFIC 3.200 8/15/27	82,772	89,925
CVS HEALTH 4.300 3/25/28	78,531	89,247
TRIMBLE INC 4.900 6/15/28	74,646	89,744
CONSERVATION FUND 3.474 12/15/29	159,529	172,122
COMMONSPIRIT HEALTH 4.187 10/1/49	40,000	46,561
NEXTERA ENERGY 4.800 12/1/77	36,595	43,800
MARVELL TECHNOLOGY 4.875 6/22/28	83,179	88,592
ARTISAN HIGH INCOME	78,972	81,855
METROPOLITAN WEST TR BOND I	411,032	408,038
METROPOLITAN WEST TR BOND I	2,082,122	2,074,449
VERIZON OWNER TRUST	164,981	168,962
DRIVE AUTO RECEIVABLES TRUST 1.42	84,993	86,126
AMERCREDIT AUTO REC TR 0.690 6/18/25	84,989	85,195
PVH CORPORATION 4.625 7/10/25	60,664	61,971
DRIVE AUTO RECEIVABLES TRUST 2.36	165,086	168,851
DOLLAR GENERAL 3.875 4/15/27	85,863	86,870
DARDEN RESTAURANTS 3.85 5/1/27	82,418	93,194
MPLX LP	54,063	66,471
SOUTHWEST AIRLINES 2.625 2/10/30	81,628	96,695
AMPHENOL CORP 2.80 2/15/30	86,518	93,760
AVALONBAY COMM 2.30 3/1/30	79,037	90,657
NIKE 2.85 3/27/30	38,485	43,049
CONSOLIDATED EDISON 3.35 4/1/30	40,472	45,837
SYSCO CORP 5.95 4/1/30	72,980	91,984
BOOKING HOLDINGS 4.625 4/13/30	40,962	49,703
EXELON CORP 4.05 4/15/30	81,037	94,662
TJX COMPANIES 3.875 4/15/30	76,498	89,994
VF CORP 2.95 4/23/30	81,368	88,516
IDEX CORP 3.00 5/1/30	80,240	88,074
CHEVRON CORP 2.236 5/11/30	42,000	45,020
VULCAN MATERIALS 3.50 6/1/30	79,910	91,889
AGILENT TECHNOLOGIES 2.10 6/4/30	85,274	87,981
CROWN CASTLE INTL 3.30 7/1/30	79,607	89,542
LYB INTL FIN 2.25 10/1/30	84,532	87,447
BROADCOM INC 4.15 11/15/30	84,782	86,832
XYLEM INC 2.25 1/30/31	84,891	89,520
LEAR CORP	82,707	91,423
FORTIS INC 3.055 10/4/26	85,155	85,853
KINROSS GOLD CORP 4.50 7/15/27	83,930	92,523
APTIV PIC 4.35 3/15/29	25,079	27,891

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CROWN CASTLE INTL	4,260	7,323
JOHNSON & JOHNSON	23,699	30,374
MERCK CO	5,754	6,871
EDGEWOOD GROWTH FD	648,757	1,641,561
ALPHABET INC CL A	8,486	17,526
ALPHABET INC CL C	10,777	22,774
AMERIPRISE FINL INC	12,283	19,433
ANTHEM INC	7,520	13,165
APPLE INC	8,467	31,315
BANK OF AMERICA	14,825	18,762
BERKSHIRE HATHAWAY INC CL B	18,874	26,201
CARMAX INC	14,460	23,048
CONAGRA BRANDS INC	20,206	23,315
EDWARDS LIFESCIENCES CORP	8,213	23,811
FACEBOOK INC A	18,561	34,145
GENERAL DYNAMICS CORP	4,539	3,721
J P MORGAN CHASE CO	14,294	20,204
KINDER MORGAN INC	13,417	9,747
LOWES CO INC	13,862	27,126
MASTERCARD INC	12,755	40,691
MICROSOFT CORP	11,939	40,703
TJX COMPANIES INC	3,715	6,351
UNITED RENTALS INC	5,411	10,436
UNITEDHEALTH GROUP INC	79,460	173,587
VISA INC CLASS A	17,067	41,996
WALT DISNEY CO	9,014	14,495
ACCENTURE PLC CL A	6,771	14,628
CANADIAN NTL RY CO	5,738	8,568
NOMAD FOODS LTD	9,985	15,532
SUNCOR ENERGY INC	11,820	6,041
AFLAC INC	12,689	16,143
AMGEN INC	16,870	25,521
CVS HEALTH CORPORATION	109,911	143,089
DOLLAR GENERAL CORP	41,756	123,656
GRAINGER WW INC	9,276	22,867
JM SMUCKER CO	125,655	129,588
KROGER CO	17,223	24,614
MARSH MCLENNAN COS INC	14,416	24,687
MICROCHIP TECHNOLOGY INC	9,576	19,612
ROSS STORES INC	21,483	36,106
STATE STR CORP	20,734	25,327
AMAZON COM INC	39,682	87,937
BOOKING HOLDINGS INC	105,170	133,636
KKR CO INC A	46,201	71,465
SBA COMMUNICATIONS CORP	37,682	64,608
ALIBABA GROUP HOLDING LTD	65,818	109,150
TAIWAN SEMICONDUCTOR	4,885	14,611
AKRE FOCUS FUND	1,570,336	1,888,497
AGILENT TECHNOLOGIES	28,032	44,078
HAIN CELESTIAL GROUP	35,776	59,824
PAYPAL HOLDINGS	22,000	119,208
STERICYCLE	50,853	67,527
COCA COLA COMPANY	163,013	171,594
COLGATE PALMOLIVE	96,217	123,134
CONAGRA BRANDS	54,473	59,213
GLOBAL PAYMENTS	17,842	29,728
LOWES CO INC	80,381	157,300
MERCK CO	25,534	40,000
QUEST DIAGNOSTICS	20,673	23,834
STANLEY BLACK DECKER	10,971	14,285
UNITEDHEALTH GROUP	85,599	140,623
UNILEVER	21,840	21,850
AKRE FOCUS FUND	325,000	377,959
BROWN ADV GLOBAL LDRS INST	157,500	197,748
EDGEWOOD GROWTH FUND	218,297	401,768
AGILENT TECHNOLOGIES	4,866	7,583
ALPHABET CL A	47,520	98,148
ALPHABET CL C	61,347	129,639
AMAZON	7,415	16,285
AMERIPRISE	71,680	113,489
ANTHEM	42,074	77,062
APPLE	48,938	180,989
BANK OF AMERICA	85,261	108,904
BERKSHIRE HATHAWAY CL B	109,735	152,339
BOOKING HOLDINGS	17,585	22,273
CARMAX	81,809	134,039
CONAGRA	116,332	133,401
CROWN CASTLE	23,844	42,345
EDWARDS LIFESCIENCES	47,934	139,217
FACEBOOK	105,367	198,587
GENERAL DYNAMICS	25,962	21,281
HAIN CELESTIAL GROUP	6,144	10,278
J P MORGAN CHASE	81,877	117,667
KINDER MORGAN	77,455	56,580
KKR CO INC	7,887	12,268
LOWES CO	15,388	29,855
MASTERCARD	74,402	237,365
MERCK CO	19,490	25,113
MICROSOFT	69,482	236,877
PAYPAL HOLDINGS	3,804	20,610
SBA COMMUNICATIONS	6,458	11,003
STERICYCLE	8,709	11,647
TJX COMPANIES	21,563	36,945
UNITED RENTALS	30,552	61,224
VISA INC	99,557	244,978
WALT DISNEY	52,192	83,705
ACCENTURE	39,587	85,677
ALIBABA GROUP HOLDING	11,409	18,851
CANADIAN NATL RY CO	33,620	50,201
NOMAD FOODS	55,781	90,241
SUNCOR ENERGY	63,253	35,070
TAIWAN SEMICONDUCTOR	28,468	85,160
AFLAC INC	71,207	90,585
AMGEN INC	96,203	145,536
COCA COLA COMPANY	28,637	30,107
COLGATE PALMOLIVE	17,172	21,976
CONAGRA BRANDS	8,976	10,189
CVS HEALTH CORP	19,584	25,476
DOLLAR GENERAL CORP	7,368	21,661
GLOBAL PAYMENTS INC	99,969	170,397
GRAINGER W S	51,683	127,402
JM SMUCKER CO	22,450	23,120
JOHNSON & JOHNSON	120,284	172,961
KROGER CO	93,932	138,061
LOWES CO	88,344	171,104
MARSH MCLENNAN COS	82,328	140,985
MERCK CO	97,346	140,696
MICROCHIP TECHNOLOGY	54,689	112,007
QUEST DIAGNOSTICS	115,767	133,470
ROSS STORES INC	115,328	205,952
STANLEY BLACK DECKER	61,835	80,531
STATE STR CORP	116,480	142,285
UNITEDHEALTH GROUP INC	14,798	24,197
UNILEVER	123,860	124,523
BA BEUTL GDMAN LRG CAP INST	225,000	228,117
BA BEUTL GDMAN LRG CAP INST	1,675,000	1,697,201
ANALOG DEVICES	41,659	67,956
BLACKSTONE GROUP CL A	33,218	50,487
BRIGHT HORIZONS	35,609	52,589
CARRIER GLOBAL CORP	29,666	63,558
DOLLAR TREE	43,980	50,563
INTUIT INC	34,571	62,675
OTIS WORLDWIDE	41,870	47,353
AUTOMATIC DATA PROCESSING	103,108	133,912
SYSCO CORP	76,019	130,252
US BANCORP	142,102	168,097
MEDTRONIC	123,225	133,305
ANALOG DEVICES	7,155	11,671
BLACKSTONE GROUP CL A	5,800	8,685
BRIGHT HORIZONS	6,181	8,995
CARRIER GLOBAL	5,257	10,901
DOLLAR TREE	7,782	8,751
INTUIT	6,119	11,016
OTIS WORLDWIDE	7,240	8,174
AUTOMATIC DATA PROCESSING	18,187	23,611
SYSCO CORP	13,647	22,724
UNITEDHEALTH GROUP	13,966	30,509
US BANCORP	25,024	29,352
MEDTRONIC	21,647	23,311

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

US Government Securities - End of Year Book Value:

2,041,851

US Government Securities - End of Year Fair Market Value:

2,106,271

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

132,760

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

142,526

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
CANTILLON GLOBAL EQUITY	AT COST	1,100,000	1,349,197
CANTILLON GLOBAL EQUITY	AT COST	100,000	119,391
HILLHOUSE CHINA VAL FD-SRS 1	AT COST	125,000	125,000
HILLHOUSE CHINA VAL FD-SRS 1	AT COST	850,000	850,000
LEXINGTON PARTNERS	AT COST	413,744	183,817
ENERGY CAP MEZZANINE	AT COST	217,225	91,268
HAYFIN DIRECT LENDING	AT COST	228,486	14,325
CRESCENT MEZZANINE PARTNERS	AT COST	156,872	153,629
VIKING LONG FUND	AT COST	500,000	929,278
DRA GROWTH & INCOME FUND IX	AT COST	409,704	429,374
YUKON CAPITAL PARTNERS III	AT COST	126,005	133,005

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
INVESTMENT PARTNERSHIPS	26,568	26,568

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	99,077	99,077	0	0
OTHER PROFESSIONAL FEES	2,000	0	0	2,000

- TIN:

TY 2020 TaxesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

20011551

Software Version:

2020v4.0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL INCOME TAX PAYMENT	3,693
FOREIGN INCOME TAX	896	896