Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
THE JAMES W AND FRANCES GIBSON
MCGLOTHLIN FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)1005 GLENWAY AVENUE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BRISTOL, VA24201
A Employer identification number

26-3533035
B Telephone number (see instructions)

(276) 645-1436
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$49,101,917J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 6,322 6,322  
4 Dividends and interest from securities... 614,032 632,829  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,291,337
b Gross sales price for all assets on line 6a 23,856,103
7 Capital gain net income (from Part IV, line 2)... 1,294,500
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........ 1,911,691 1,933,651  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 113,551 0   113,551
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 39,508 0   39,508
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 15,800 0   15,800
c Other professional fees (attach schedule).... Click to see attachment 195,731 195,731   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 39,228 0   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 559 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 906,630 327   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,311,007 196,058   168,884
25 Contributions, gifts, grants paid....... 1,813,787 2,829,056
26 Total expenses and disbursements. Add lines 24 and 25 3,124,794 196,058   2,997,940
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,213,103
b Net investment income (if negative, enter -0-) 1,737,593
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 152,143 86,917 86,917
2 Savings and temporary cash investments......... 5,314,082 910,785 910,785
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 1,137,949 1,137,948 1,137,948
10a Investments—U.S. and state government obligations (attach schedule) 504,165 0 0
b Investments—corporate stock (attach schedule)....... 27,131,543 Click to see attachment26,311,705 26,311,705
c Investments—corporate bonds (attach schedule)....... 7,422,567 Click to see attachment5,912,064 5,912,064
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,086,819 Click to see attachment13,105,151 13,105,151
14 Land, buildings, and equipment: basis bullet8,388
Less: accumulated depreciation (attach schedule) bullet1,246 7,701 Click to see attachment7,142 7,142
15 Other assets (describe bullet) Click to see attachment775,511 Click to see attachment1,630,205 Click to see attachment1,630,205
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 48,532,480 49,101,917 49,101,917
Liabilities 17 Accounts payable and accrued expenses.......... 29,765 43,218
18 Grants payable................. 2,521,893 1,506,624
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment15,605 Click to see attachment13,902
23 Total liabilities (add lines 17 through 22)......... 2,567,263 1,563,744
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 18,701,095 19,062,704
25 Net assets with donor restrictions............ 27,264,122 28,475,469
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
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)..... 45,965,217 47,538,173
30 Total liabilities and net assets/fund balances (see instructions). 48,532,480 49,101,917
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
45,965,217
2
Enter amount from Part I, line 27a .....................
2
-1,213,103
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,786,059
4
Add lines 1, 2, and 3 ..........................
4
47,538,173
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
47,538,173
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY-TRADED SECURITIES      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 23,856,103   22,561,603 1,294,500
b
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       1,294,500
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,294,500
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 24,153
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 24,153
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 24,153
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 20,875
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 20,875
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 3,278
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletVA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletBARBARA BJERKE Telephone no.bullet (276) 645-1436

    Located atbullet1005 GLENWAY AVENUEBRISTOLVA ZIP+4bullet24201
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JAMES W MCGLOTHLIN CHAIRMAN/DIRECTOR
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    FRANCES G MCGLOTHLIN VICE CHAIRMAN/VP/SECRETARY
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    LOIS A CLARKE PRESIDENT/CEO/DIRECTOR
    5.00     		57,384 1,779 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    BARBARA BJERKE TREASURER
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    CLAIRE DAVIS ASSISTANT SECRETARY
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    SAM F EWING DIRECTOR
    1.00     		0 0 0
    1251 RICHMOND ROAD
    WINTER PARK,FL32789
    MARTIN L KENT DIRECTOR
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    R BRAD MARTIN DIRECTOR
    1.00     		0 0 0
    1025 CHERRY ROAD
    MEMPHIS,TN38117
    MARTHA MCGLOTHLIN BOWMAN DIRECTOR
    1.00     		0 0 0
    22286 VIRGINIA TRAIL
    BRISTOL,VA24202
    FAY H STREET DIRECTOR
    1.00     		0 0 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    PEGGY LITTLETON EXECUTIVE DIRECTOR
    20.00     		56,167 31,789 0
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    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...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    UNITED MANAGEMENT COMPANY LLC INVESTMENT MANAGEMENT 111,119
    1005 GLENWAY AVENUE
    BRISTOL,VA24201
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    40,449,111
    b
    Average of monthly cash balances.......................
    1b
    2,897,907
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,567,764
    d
    Total (add lines 1a, b, and c).........................
    1d
    44,914,782
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    44,914,782
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    673,722
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    44,241,060
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,212,053
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,212,053
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    24,153
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    24,153
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,187,900
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,187,900
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,187,900
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    2,997,940
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    2,997,940
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,997,940
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 2,187,900
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 1,636,405
    b From 2016...... 539,499
    c From 2017...... 1,503,308
    d From 2018...... 707,705
    e From 2019...... 616,091
    fTotal of lines 3a through e........ 5,003,008
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,997,940
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 2,187,900
    e Remaining amount distributed out of corpus 810,040
    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 5,813,048
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		1,636,405
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		4,176,643
    10 Analysis of line 9:
    a Excess from 2016.... 539,499
    b Excess from 2017.... 1,503,308
    c Excess from 2018.... 707,705
    d Excess from 2019.... 616,091
    e Excess from 2020.... 810,040
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    JAMES W MCGLOTHLIN
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    APPALACHIAN SCHOOL OF LAW
    1169 EDGEWATER DRIVE
    GRUNDY,VA24614     		N/A PC ASSIST LAW SCHOOL IN HIRING PROFESSORS, PROVIDING SCHOLARSHIPS AND INCREASING BAR PASSAGE 500,000
    BACKPACK BLESSINGS INC
    PO BOX 24
    GRUNDY,VA24614     		N/A PC BACKPACK PROGRAM OF BUCHANAN COUNTY, VA 5,000
    BOY SCOUTS OF AMERICA
    PO BOX 3010
    JOHNSON CITY,TN37602     		N/A PC SEQUOYAH COUNCIL CAPITAL PROGRAM - CAMP DAVY CROCKETT 25,000
    BOYS & GIRLS CLUB OF CENTRAL APPALACHIA
    PO BOX 1505
    GRUNDY,VA24614     		N/A PC BUCHANAN COUNTY STEAM PROGRAM 25,000
    COMMUNITIES IN SCHOOLS OF VIRGINIA
    220 LEE STREET
    BRISTOL,VA24201     		N/A PC COATS, SHOES & BACKPACKS FOR STUDENTS IN NEED 40,800
    FOUNDATION FOR EDUCATIONAL AND DEVELOPMENTAL OPPORTUNITIES INC
    200 N PINECREST LANE
    BRISTOL,VA24201     		N/A PC SCHOLARSHIP FUND 125,000
    JOHNS HOPKINS UNIVERSITY
    750 E PRATT STREET
    BALTIMORE,MD21202     		N/A PC SIDNEY KIMMEL COMPREHENSIVE CANCER CENTER FOR PANCREATIC CANCER RESEARCH 150,000
    LOVE N PEOPLE
    100 5TH ST SUITE 2W
    BRISTOL,TN37620     		N/A PC GENERAL SUPPORT 1,000
    MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC LEADERSHIP FORUM FUND 56,800
    MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC TEACHING AWARD FUND 56,800
    MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC SCHOLARSHIP FUND 568,003
    MCV FOUNDATION
    PO BOX 980234
    RICHMOND,VA23298     		N/A PC TERRY AND HAROLD YOUNG ENDOWED CHAIR IN NEUROSURGERY 25,000
    NEIGHBORHOOD HEALTH CLINIC INC
    88 12TH STREET N UNIT 100
    NAPLES,FL34102     		N/A PC GENERAL SUPPORT- HOPE & HEALING FOR THOSE IN NEED 3,750
    NEW HOPE BAPTIST CHURCH
    PO BOX 16146
    BRISTOL,VA24209     		N/A PC CURRENT NEEDS DUE TO CORONAVIRUS IMPACT 27,800
    ST JOHN'S EPISCOPAL CHURCH
    500 PARK SHORE DRIVE
    NAPLES,FL34103     		N/A PC FOOD CRISIS IN COLLIER COUNTY, FL 10,000
    ST VINCENT HOSPITAL FOUNDATION
    84202 HARCOURT RD SUITE 210
    INDIANAPOLIS,IN46260     		N/A PC GENERAL SUPPORT- PEYTON MANNING CHILDREN'S HOSPITAL 25,000
    UNITED WAY OF BRISTOL TNVA
    PO BOX 696
    BRISTOL,TN37621     		N/A PC FUNDS FOR FOOD FOR HOMELESS 2,500
    UPMC HILLMAN CANCER CENTER
    4200 5TH AVE
    PITTSBURGH,PA15213     		N/A PC FUND FOR HUMAN MELANOMA LAB RESEARCH 400,000
    VIRGINIA MUSEUM OF FINE ARTS FOUNDATION
    200 N BOULEVARD
    RICHMOND,VA23220     		N/A PC GENERAL SUPPORT 50,000
    WELLMONT FOUNDATION
    1905 AMERICAN WAY
    KINGSPORT,TN37660     		N/A PC LARYNGECTOMY SUPPLY FUND 25,000
    WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC SCHOLARSHIP FUND 568,003
    WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC LEADERSHIP FORUM FUND 56,800
    WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC TEACHING AWARD FUND 56,800
    WILLIAM & MARY LAW SCHOOL
    751 UKROP WAY
    WILLIAMSBURG,VA23185     		N/A PC PROFESSORSHIP IN HONOR OF DAVE DOUGLAS 10,000
    ZION HILL BAPTIST CHURCH
    780 W ROCK ROAD
    RADFORD,VA24141     		N/A PC CURRENT NEEDS DUE TO CORONAVIRUS IMPACT 15,000
    Total .................................bullet 3a 2,829,056
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 6,322  
    4 Dividends and interest from securities....     14 614,032  
    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 1,291,337  
    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 1,911,691 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,911,691
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT FEES 12,000 0   12,000
    TAX RETURN PREPARATION 3,800 0   3,800

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

    TY 2020 DepreciationSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    RENOVATIONS TO MARTIN HALL - WORK CLOSET 2018-10-01 6,221 519 SL 15.000000000000 415 0    
    A/C INSTALLATION - WORK CLOSET 2018-11-26 2,167 168 SL 15.000000000000 144 0    

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 3.4% 11/30/23 188,571 188,571
    ABBVIE INC 3.2% 11/06/22 314,079 314,079
    AGILENT TECHNOLOGIES 3.2% 10/01/22 195,456 195,456
    AMERN EXPRESS CO 3.375% 05/17/21 252,168 252,168
    APPLE INC 2.25% 02/23/21 250,295 250,295
    AT&T INC 3.9% 03/11/24 274,188 274,188
    AVERY DENNISON CORP 3.35% 04/15/23 260,900 260,900
    CARLISLE COS INC 3.5% 12/01/24 273,990 273,990
    FIFTH THIRD BANCORP 2.375% 01/28/25 266,005 266,005
    FORD MOTOR CREDIT MTN 3.1% 03/20/21 498,920 498,920
    GOLDMAN SACHS GROUP INC 251,550 251,550
    LAB CORP OF AMER 3.6% 02/01/25 276,190 276,190
    MOSAIC CO 3.25% 11/15/22 261,238 261,238
    MOTOROLA SOLUTIONS INC 3.5% 03/01/23 264,210 264,210
    NORFOLK SOUTHERN CORP 3.25% 12/01/21 254,605 254,605
    O'REILLY AUTOMOTIVE IN 3.8% 09/01/22 261,675 261,675
    PHILLIPS 66 4.3% 04/01/22 261,808 261,808
    QUALCOMM INC 3% 05/20/22 259,445 259,445
    ROCKWELL COLLINS INC 3.2% 03/15/24 269,988 269,988
    SYNOVUS FINANCIAL CO 3.125% 11/01/22 519,140 519,140
    SYSCO CORPORATION 2.6% 06/12/22 257,643 257,643

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 432,814 432,814
    ACCENTURE PLC-CL A 516,151 516,151
    ADOBE SYSTEMS INC 488,117 488,117
    AIR PRODUCTS & CHEMICALS INC 174,041 174,041
    ALLEGION PLC 89,729 89,729
    ALPHABET INC/CA-CL A 729,098 729,098
    ALPHABET INC-CL C 991,564 991,564
    AMAZON.COM INC 1,788,055 1,788,055
    AMERIPRISE FINANCIAL INC 125,343 125,343
    AMPHENOL CORP-CL A 295,802 295,802
    APPLE INC. 2,302,437 2,302,437
    APTIV PLC 254,326 254,326
    AUTOMATIC DATA PROCESSING INC 386,054 386,054
    BERKSHIRE HATHAWAY INC-CL B 487,854 487,854
    BLACKROCK INC 198,424 198,424
    BRISTOL MYERS SQUIBB CO 105,451 105,451
    CDW CORP/DE 257,253 257,253
    COMCAST CORP 115,908 115,908
    COSTCO WHOLESALE CORP 179,724 179,724
    CSX CORP 102,093 102,093
    DANAHER CORP 117,955 117,955
    DEERE & CO 121,072 121,072
    DEXCOM INC 147,888 147,888
    DOLLAR GENERAL CORP 78,021 78,021
    ELECTRONIC ARTS INC 143,600 143,600
    ELI LILLY & CO 168,840 168,840
    ENLINK MIDSTREAM LLC 1,109,290 1,109,290
    ESTEE LAUDER COMPANIES-CL A 53,504 53,504
    FACEBOOK INC-A 732,615 732,615
    FIDELITY NATIONAL INFO SERV 128,446 128,446
    HOME DEPOT INC 376,118 376,118
    HONEYWELL INTERNATIONAL INC 418,381 418,381
    INTERCONTINENTAL EXCHANGE IN 86,929 86,929
    INTL FLAVORS & FRAGRANCES 143,560 143,560
    INTUIT INC 347,943 347,943
    IQVIA HOLDINGS INC 405,283 405,283
    JOHNSON & JOHNSON 157,380 157,380
    JP MORGAN CHASE & CO 444,745 444,745
    LOWE'S COS INC 105,455 105,455
    LULULEMON ATHLETICA INC 144,432 144,432
    MARKEL CORP 205,627 205,627
    MASTERCARD INC-CLASS A 763,138 763,138
    MEDTRONIC PLC 135,531 135,531
    MERCK AND CO INC 139,060 139,060
    METTLER-TOLEDO INTERNATIONAL 180,069 180,069
    MICROCHIP TECHNOLOGY INC 288,788 288,788
    MICROSOFT CORP 2,445,063 2,445,063
    MONDELEZ INTERNATIONAL INC-A 74,374 74,374
    MORGAN STANLEY 205,590 205,590
    NIKE INC -CL B 613,697 613,697
    NORFOLK SOUTHERN CORP 124,745 124,745
    NVIDIA CORP 313,320 313,320
    O'REILLY AUTOMOTIVE INC 106,807 106,807
    PARKER HANNIFIN CORP 121,222 121,222
    PAYPAL HOLDINGS INC 351,300 351,300
    PEPSICO INC 118,640 118,640
    PFIZER INC 99,387 99,387
    REPUBLIC SERVICES INC 96,300 96,300
    ROCKWELL AUTOMATION INC 144,216 144,216
    ROPER TECHNOLOGIES INC 182,782 182,782
    SALESFORCE.COM INC 486,228 486,228
    SCHWAB (CHARLES) CORP 326,461 326,461
    SERVICENOW INC 55,043 55,043
    SHERWIN-WILLIAMS CO/THE 91,129 91,129
    STARBUCKS CORP 128,376 128,376
    STERICYCLE INC 247,924 247,924
    TEXAS INSTRUMENTS INC 393,912 393,912
    THERMO FISHER SCIENTIFIC INC 264,563 264,563
    TJX COMPANIES INC 399,770 399,770
    TRANSDIGM GROUP INC 99,016 99,016
    ULTA BEAUTY INC 63,175 63,175
    UNILEVER PLC-SPONSORED ADR 127,058 127,058
    UNITEDHEALTH GROUP INC 351,732 351,732
    VERISK ANALYTICS INC 262,601 262,601
    VERIZON COMMUNICATIONS INC 152,750 152,750
    VERTEX PHARMACEUTICALS INC 125,260 125,260
    VISA INC-CLASS A SHARES 196,857 196,857
    ZOETIS INC 378,499 378,499

    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AMERICAN TOWER CORP FMV 459,694 459,694
    APEX BANK CERT OF DEPOSIT 1.010% 12/02/2021 DTD 06/02/2020 FMV 250,000 250,000
    COMM SERV SELECT SECTOR SPDR FMV 337,400 337,400
    CONSUMER DISCRETIONARY SELT FMV 192,935 192,935
    CONSUMER STAPLES SPDR FMV 134,900 134,900
    ENABLE MIDSTREAM PARTNERS LP FMV 564,887 564,887
    FINANCIAL SELECT SECTOR SPDR FMV 417,142 417,142
    HEALTH CARE SELECT SECTOR FMV 385,696 385,696
    INDUSTRIAL SELECT SECT SPDR FMV 624,278 624,278
    INVESCO S&P 500 EQUAL WEIGHT FMV 382,620 382,620
    ISHARES MSCI EMERGING MARKET FMV 87,839 87,839
    ISHARES S&P 500 GROWTH ETF FMV 970,064 970,064
    JPMORGAN ULTRA-SHORT INCOME FMV 507,900 507,900
    MATERIALS SELECT SECTOR SPDR FMV 123,063 123,063
    PIMCO ACTIVE BOND EXCHANGE-TRA FMV 1,493,052 1,493,052
    SPDR DOUBLELINE TR TACT ETF FMV 747,085 747,085
    SPDR PORT SHRT TRM TRSRY FMV 2,571,963 2,571,963
    SPDR S&P 500 ETF TRUST FMV 1,869,400 1,869,400
    SPDR SERIES TRUST FMV 764,199 764,199
    TECHNOLOGY SELECT SECT SPDR FMV 221,034 221,034

    TY 2020 LandEtcSchedule2
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    RENOVATIONS TO MARTIN HALL - WORK CLOSET 6,221 934 5,287 5,287
    A/C INSTALLATION - WORK CLOSET 2,167 312 1,855 1,855


    TY 2020 OtherAssetsSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DIVIDEND RECEIVABLE 42,862 19,756 19,756
    INTEREST RECEIVABLE - SECURITIES 46,728 42,676 42,676
    INT/DIV RECEIVABLE - TEMP INVESTMENTS 3,270 9 9
    CASH SURRENDER VALUE 682,651 1,567,764 1,567,764


    TY 2020 OtherExpensesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 203 203   0
    PTP PASSTHROUGH LOSSES 172,664 124   0
    LIFE INSURANCE 733,738 0   0
    ANNUAL REGISTRATION 25 0   25


    TY 2020 OtherIncreasesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Description Amount
    PARTNERSHIP K-1 PASS THROUGHS 172,664
    PARTNERSHIP DISTRIBUTIONS RECORDED AS INCOME ON BOOKS 88,753
    UNREALIZED GAIN IN VALUE OF INVESTMENTS 2,524,642


    TY 2020 OtherLiabilitiesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Description Beginning of Year - Book Value End of Year - Book Value
    FEDERAL EXCISE TAX PAYABLE 15,605 13,902


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 195,731 195,731   0


    TY 2020 TaxesSchedule
    Name:
    THE JAMES W AND FRANCES GIBSON
     
    MCGLOTHLIN FOUNDATION
    EIN:
    26-3533035
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SECTION 4940 TAX 39,228 0   0