TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
Prime Foundation Inc

Number and street (or P.O. box number if mail is not delivered to street address)21255 SR 4
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Lakeville, IN46536

A Employer identification number

81-4380271

B Telephone number (see instructions)

(574) 274-9502

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

$23,329,076J 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	(c) Adjusted net 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...		578,554		578,554
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10			7,330
b	Gross sales price for all assets on line 6a 4,821,457
7	Capital gain net income (from Part IV, line 2)...				7,330
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances	0
b	Less: Cost of goods sold....	0
c	Gross profit or (loss) (attach schedule).....			0
11	Other income (attach schedule).......			0	0	0
12	Total. Add lines 1 through 11........		585,884		585,884	0
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........			6,337	1,584	0	0
b	Accounting fees (attach schedule).......			9,875	2,469	0	0
c	Other professional fees (attach schedule)....			0	0	0	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...			9,301	6,951	0	0
19	Depreciation (attach schedule) and depletion...			0	0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......			126,687	125,725	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........		152,200		136,729	0	0
25	Contributions, gifts, grants paid.......		899,838				899,838
26	Total expenses and disbursements. Add lines 24 and 25		1,052,038		136,729	0	899,838
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements		-466,154
b	Net investment income (if negative, enter -0-)				449,155
c	Adjusted net income (if negative, enter -0-)...					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.........	1,156,437	1,261,817	1,261,817
	3	Accounts receivable
		Less: allowance for doubtful accounts	0	0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts	0	0	0
	5	Grants receivable.................	0
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....	0	0	0
	7	Other notes and loans receivable (attach schedule) 0
		Less: allowance for doubtful accounts 0	0	0	0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	0	0	0
	b	Investments—corporate stock (attach schedule).......	13,792,374	13,633,078	19,045,006
	c	Investments—corporate bonds (attach schedule).......	3,333,061	2,925,191	3,022,253
	11	Investments—land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0	0		0
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	0	0	0
	14	Land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0	0		0
	15	Other assets (describe )	0	0	0
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	18,281,872	17,820,086	23,329,076
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons	0	0
	21	Mortgages and other notes payable (attach schedule)......	0	0
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	18,281,872	17,820,086
	29	Total net assets or fund balances (see instructions).....	18,281,872	17,820,086
	30	Total liabilities and net assets/fund balances (see instructions).	18,281,872	17,820,086

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

18,281,872

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

-466,154

Other increases not included in line 2 (itemize) bullet

4,368

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

17,820,086

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 .

17,820,086

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		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	4,821,457	4,814,127	7,330
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		0	7,330
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	7,330
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	0

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	6,243
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	6,243
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	6,243
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	5,816
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	5,816
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	427
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (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

Marjorie D Skaggs Telephone no. bullet

(574) 274-9502

Located at bullet

21320 Surface AvenueLakevilleIN ZIP+4 bullet

46536

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
Marjorie D Skaggs	President/Treasurer 1.000	0	0	0
21320 Surface Avenue Lakeville,IN46536	President/Treasurer 1.000	0	0	0
Scotty L Merrill	Vice President 1.000	0	0	0
21264 Surface Avenue Lakeville,IN46536	Vice President 1.000	0	0	0
Jennifer Merrill	Secretary 1.000	0	0	0
21264 Surface Avenue Lakeville,IN46536	Secretary 1.000	0	0	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










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

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

20,220,868

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

1,178,475

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

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

21,399,343

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

21,399,343

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

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

320,990

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

21,078,353

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

1,053,918

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

1,053,918

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

6,243

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

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

6,243

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

1,047,675

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

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

1,047,675

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

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

1,047,675

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 ..........

899,838

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

899,838

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

899,838

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7					1,047,675
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				0
b Total for prior years:2018, 2017, 2016			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	0
b From 2016......	0
c From 2017......	0
d From 2018......	212,439
e From 2019......	0
fTotal of lines 3a through e........		212,439
4Qualifying distributions for 2020 from Part
XII, line 4: $ 899,838
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.....					899,838
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.		147,837			147,837
(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		64,602
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		64,602
10 Analysis of line 9:
a Excess from 2016....	0
b Excess from 2017....	0
c Excess from 2018....	64,602
d Excess from 2019....	0
e Excess from 2020....	0

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
University of Notre Dame Controllers Office 724 Grace Hall Notre Dame,IN46556	None	PC	Charitable	30,000
Newton Park 21255 SR 4 Lakeville,IN46536	None	SO III NFI	Charitable	675,000
Memorial Health Foundation Inc 615 N Michigan St South Bend,IN46601	None	PC	Charitable	35,000
Real Services Inc PO Box 1835 South Bend,IN466341835	None	PC	Alzheimer and Dementia Services	5,000
Junior Achievement of Northern IN Inc 601 Noble Drive Fort Wayne,IN46825	None	PC	Charitable	10,000
LAVille Jr-Sr High School 69969 US 31 South lakeville,IN46536	None	GOV	Charitable	1,316
Lakeville United Methodist Church 610 N Michigan St Lakeville,IN46536	None	PC	Charitable	13,200
Nations of Coaches Inc 303-D Beltline Place SW Box 231 Decatur,AL35603	None	PC	Charitable	20,000
Potawatomi Zoological Society Inc PO Box 1764 South Bend,IN46634	None	PC	Charitable	20,000
St Joseph Cnty 4-H Fair Inc 5117 S Ironwood South Bend,IN46614	None	PC	Charitable	1,247
The Tony Stewart Foundation Inc 438 Southpoint Circle Brownburg,IN46112	None	PC	Charitable	20,000
South Bend Community School Corporation 215 South Dr Martin Luther King Jr Blvd South Bend,IN46601	None	GOV	Charitable	15,000
JDRF International 225 South East Street Suite 280 Indianapolis,IN46202	None	PC	Juvenile Diabetes	5,000
Cultivate Culinary School and Catering Inc 1403 Prairie Avenue South Bend,IN46613	None	PC	Charitable	1,000
The American Theatre Guild 9001 State Line Road Suite 110 Kansas City,MO64114	None	PC	Charitable	6,176
The Foundation of Saint Joseph Regional Medical Center Inc 707 East Cedar Street No 100 South Bend,IN46617	None	PC	Charitable	10,000
TJ Martell Foundation for Cancer Research 417 Fifth Avenue 8th Floor No 814 New York,NY10016	None	PC	Charitable	31,900
Total ................................. 3a				899,839

bApproved for future payment

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

Form 990-PF (2020)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	578,554
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	7,330
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		585,884	0

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

585,884

(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:	20011424
Software Version:	2020v4.0

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Crowe	9,875	2,469

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Name of Bond	End of Year Book Value	End of Year Fair Market Value
Affiliated Managers Group Inc Jr	4,432	4,468
Bank of America Corp Dep	49,859	52,023
Bank of America Dep Shs	211,264	199,920
Blackrock Short Maturity Bond	954,699	953,230
Coffeyville KS	200,000	224,418
DTE Energy Company	204,016	214,480
Duke Energy Company	50,534	53,399
Huntington Bancshares	182,127	177,940
Invesco	410,140	469,000
Ishares US Trust	0	0
JPMorgan Chase & Co	211,847	227,840
KKR & Company Inc	7,915	7,962
Northern TR Corp	0	0
PNC Finl SVCS Grp Inc	216,003	214,240
Southern Company	0	0
Wells Fargo & Co	0	0
Wisconsin St Ser D Babs	222,355	223,333
University Houston Tx	0	0

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Name of Stock	End of Year Book Value	End of Year Fair Market Value
Abbvie Inc	230,898	376,954
Accenture PLC Ireland Class A New	371,697	790,160
Alcon Inc	31,793	46,186
American Express Company	0	0
Amgen Inc	133,905	155,196
Apple Inc	81,872	387,986
AT & T Inc	446,869	329,877
Automatic Data Processing	169,459	304,826
Blackrock Inc	378,715	535,383
Boeing Co	0	0
Broadcom	255,167	391,438
Check Point Software Technologies LTD	0	0
Chevron Corp	129,467	94,584
Chubb Ltd	263,130	303,222
Cincinnati Financial Corp	198,727	288,234
Cisco Systems Inc	306,372	447,948
Colgate-Palmolive Co	133,832	165,034
Comcast Corp CL A New	280,357	324,880
Consolidated Edison Inc	138,716	133,338
Cummins Inc	219,435	336,108
CVS Health Corp	149,089	147,187
Danaher Corp	106,313	295,446
Dover Corp Common	175,706	338,350
Eaton Corp PLC	128,158	251,092
Enbridge Inc	136,265	116,284
Exxon Mobil Corp	0	0
FedEx Corp	259,298	353,083
Fiserv Inc	142,000	292,051
Garmin LTD	142,134	151,370
Glaxosmithkline Plc-adr	0	0
Home Depot Inc	414,709	619,691
Honeywell International Inc	194,469	362,653
Houlihan Lokey Inc	129,810	147,906
Illinois Tool Works Inc	143,617	203,880
Intel Corp	106,367	146,471
Intercontinental Exchange Inc	266,428	322,812
International Business Machine Corp	154,244	112,663
Johnson & Johnson	379,574	493,071
JP Morgan chase & Co	260,034	379,939
Kimberly clark Corp	70,642	82,246
Kinder Morgan Inc DE	149,578	99,641
Lockheed Martin Corp	434,819	515,431
Marsh & Mclennan Cos Inc	0	0
McDonalds Corp	200,755	261,788
Medtronic PLC	317,679	463,874
Merck & Company Inc New	369,402	434,522
Microsoft Corp	211,698	762,901
Motorola Solutions Inc	223,481	223,629
Nextera Energy Inc	128,437	339,460
Northrop Grumman Corp	78,253	99,034
Novartis AG	228,451	330,505
Oneok Inc New	145,838	110,342
Paychex Inc	354,126	503,172
Pepsico Incorporated	471,436	636,949
Pfizer Incorporated	289,898	337,879
PNC Financial Services Group Inc	0	0
Raytheon Technologies Corp	86,542	85,097
Republic Services Inc	244,019	374,607
Royal Bank Canada Montreal	202,083	237,974
Royal Dutch Shell PLC	0	0
Southern Company	373,044	410,536
Starbucks Corp	495,416	613,744
Stryker Corp	171,761	295,273
Sysco corp	0	0
Texas Instruments Inc	386,523	474,993
Travelers Companies inc	0	0
Truist Financial Corp	0	0
United Parcel Service-B	223,935	319,960
US Bancorp DE New	212,445	221,023
Viatris Inc	10,490	14,036
VF Corporation	0	0
WEC Energy Group Inc	133,845	193,263
Walgreens Boots Alliance Inc	0	0
Waste Management Inc Del	141,789	229,374
3M Company	218,067	228,450

- TIN:

TY 2020 LegalFeesSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Barnes and Thornburg	6,337	1,584

- TIN:

TY 2020 OtherExpensesSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Description	Revenue and Expenses per Books	Net Investment Income
Investment Fees Stifel 7643	63,914	63,914
Investment Fees Stifel 8185	61,811	61,811
Miscellaneous expenses	962

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Description	Amount
Dividends received from Prior Year	4,368

- TIN:

TY 2020 TaxesSchedule

Name:

Prime Foundation Inc

EIN:

81-4380271

Software ID:

20011424

Software Version:

2020v4.0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Foreign Taxes	6,951	6,951
Taxes	2,350