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 02-01-2020 , and ending 01-31-2021

Name of foundation
KATE KINLOCH MIDDLETON FUND
REGIONS BANK TRUSTEE #1255000660

Number and street (or P.O. box number if mail is not delivered to street address)P O DRAWER 1628
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MOBILE, AL366331628

A Employer identification number

63-6018539

B Telephone number (see instructions)

(251) 431-8309

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

$3,165,137J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	1,433
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	59,880		59,880
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		90,391
b	Gross sales price for all assets on line 6a 925,845
7	Capital gain net income (from Part IV, line 2)...			90,391
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).......		2,868	0
12	Total. Add lines 1 through 11........	154,572		150,271
13	Compensation of officers, directors, trustees, etc.	25,921		19,441	6,480
14	Other employee salaries and wages......	20,000		0	20,000
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		6,045	0	6,045
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		2,563	388	1,530
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............	3,400		0	3,400
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		5,361	999	4,293
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	63,290		20,828	41,748
25	Contributions, gifts, grants paid.......	82,959			82,959
26	Total expenses and disbursements. Add lines 24 and 25	146,249		20,828	124,707
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	8,323
b	Net investment income (if negative, enter -0-)			129,443
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	44,486	89,435	89,435
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	157,545	202,232	207,926
	b	Investments—corporate stock (attach schedule).......	705,444	1,486,346	2,140,844
	c	Investments—corporate bonds (attach schedule).......	341,870	684,143	726,932
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	1,204,953	0	0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	2,454,298	2,462,156	3,165,137
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	2,454,298	2,462,156
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	2,454,298	2,462,156
	30	Total liabilities and net assets/fund balances (see instructions).	2,454,298	2,462,156

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

2,454,298

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

8,323

Other increases not included in line 2 (itemize) bullet

562

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

2,463,183

Decreases not included in line 2 (itemize) bullet

1,027

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

2,462,156

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
1 a	PUBLICLY TRADED SECURITIES	P
b	PUBLICLY TRADED SECURITIES	P
c	CAPITAL GAINS DIVIDENDS	P
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	137,594	140,056	-2,462
b	770,789	695,398	75,391
c	17,462		17,462
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			-2,462
b			75,391
c			17,462
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	90,391
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	1,799
c	All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	1,799
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,799
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	475
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	475
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	11
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	1,335
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

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

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

REGIONS BANK TRUST DEPARTMENT Telephone no. bullet

(251) 431-8309

Located at bullet

11 NORTH WATER STREET 28TH FLOORMOBILEAL ZIP+4 bullet

36602

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-)
REGIONS BANK	TRUSTEE 1.00	25,921
PO DRAWER 1628 MOBILE,AL366331628	TRUSTEE 1.00	25,921
YUELL BUSEY	DIST. COM. 0.25	0
4324 BOULEVAD PARK SOUTH MOBILE,AL36609	DIST. COM. 0.25	0
WALTER MEIGS	DIST. COM. 0.25	0
PO BOX 190 MOBILE,AL36601	DIST. COM. 0.25	0
NORMAN PITMAN	DIST. COM. 0.25	0
3800 AIRPORT BLVD MOBILE,AL36608	DIST. COM. 0.25	0
WILBERT JORDAN	DIST. COM. 0.25	0
3800 AIRPORT BLVD MOBILE,AL36608	DIST. COM. 0.25	0
REV REUBIN ROCKWELL	DIST. COM. 0.25	0
4051 OLD SHELL RD MOBILE,AL36608	DIST. COM. 0.25	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2020)

Page 7

Part VIII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

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

Part IX-A

Summary of Direct Charitable Activities

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


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

2,798,365

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

71,977

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

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

2,870,342

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

2,870,342

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

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

43,055

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

2,827,287

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

141,364

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

141,364

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

1,799

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

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

1,799

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

139,565

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

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

139,565

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

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

139,565

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 ..........

124,707

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

124,707

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

124,707

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				139,565
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			117,382
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2020:
a From 2015......
b From 2016......
c From 2017......
d From 2018......
e From 2019......
fTotal of lines 3a through e........	0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 124,707
a Applied to 2019, but not more than line 2a			117,382
b Applied to undistributed income of prior years (Election required—see instructions).....		0
c Treated as distributions out of corpus (Election required—see instructions)........	1,433
d Applied to 2020 distributable amount.....				5,892
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2020.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	1,433
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 ..........				133,673
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) .......	1,433
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...	0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....

Form 990-PF (2020)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

BETTY THORNTON
109 NORTH CONCEPTION STREET STE 103
MOBILE,AL36602
(251) 378-8224
KATEMIDDLETONFUND@ATT.NET

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

APPLICANTS MUST COMPLETE AN APPLICATION AND INTERVIEW WITH BETTY THORNTON. APPLICANTS MUST PROVIDE COPIES OF MEDICAL BILLS AND PROOF OF INCOME AND EXPENSES, SHOWING THE FINANCIAL BURDEN RELATED TO THE MEDICAL PROBLEM.

cAny submission deadlines:

NONE

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

GRANTS ARE AWARDED ONLY FOR FINANCIAL BURDEN CAUSED BY MEDICAL EXPENSE. GRANTS ARE LIMITED TO MOBILE COUNTY, ALABAMA RESIDENTS.

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
BENJAMIN W HAWKINS 6636 BILLINGSGATE ROAD MOBILE,AL36619	NONE	I	MEDICAL EXPENSES	6,742
STEPHEN ALLRED 6360 STRAUB COURT GRAND BAY,AL36603	NONE	I	MEDICAL EXPENSES	7,031
MICHAEL WEATHERINGTON 1365 1/2 SAINT STEPHENS ROAD MOBILE,AL36603	NONE	I	MEDICAL EXPENSES	2,175
JASON M HARTLEY 604 FARNELL LANE MOBILE,AL36606	NONE	I	MEDICAL EXPENSES	615
LARRY BLAKENEY 5610 LOPER ROAD THEODORE,AL36582	NONE	I	MEDICAL EXPENSES	1,248
TAYLOR REID-BYRD 6333 KUSHLA OAKS DRIVE EIGHT MILE,AL36613	NONE	I	MEDICAL EXPENSES	6,609
JUDY WILLIAMS 2058 VICTORY COURT MOBILE,AL36606	NONE	I	MEDICAL EXPENSES	6,540
DONNA MORRIS 850 TRAILWOOD DRIVE WEST MOBILE,AL36608	NONE	I	MEDICAL EXPENSES	1,538
MICHAEL JEFFERSON 6605 VALDEZ DRIVE MOBILE,AL36608	NONE	I	MEDICAL EXPENSES	461
MOBILE INFIRMARY 5 MOBILE INFIRMARY CIR MOBILE,AL36607	NONE	PC	MEDICAL EXPENSES	50,000
Total ................................. 3a				82,959

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	59,880
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	90,391
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL EXCISE TAX REFUND					2,868
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		150,271	2,868

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

153,139

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
11A	2019 FEDERAL EXCISE TAX REFUND

Form 990-PF (2020)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES -- TAX RETURN PREPARATION	6,045	0		6,045

- TIN:

TY 2020 DistributionFromCorpusElection

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Election:

THE FOUNDATION ELECTS, PURSUANT TO REGULATION PARAGRAPH 53.4942(A)-3(D)(2) OF THE INTERNAL REVENUE CODE, TO TREAT $1,433 OF THE QUALIFYING DISTRIBUTIONS MADE DURING THE CURRENT YEAR AS DISTRIBUTIONS MADE OUT OF CORPUS. THE EFFECT OF THIS ELECTION IS TO SATISFY THE REQUIREMENTS IMPOSED BY SECTION 4942(G)(3) RELATING TO PASS-THROUGH DISTRIBUTIONS.

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AIR LEASE CORP 3.75% 01 JUN 2026 9000 PAR	8,802	9,889
AMERICAN HONDA FINANCE CORP 2.65% 12 FEB 2021 13000 PAR	12,998	13,009
AMGEN INC 2.25% 19 AUG 2023 8000 PAR	7,884	8,352
APPLE INC 1.25% 20 AUG 2030 9000 PAR	8,987	8,787
APPLE INC 2.1% 12 SEP 2022 8000 PAR	7,916	8,232
BANK OF AMERICA CORP VARIABLE 3.559% 23 APR 2027 8000 PAR	8,000	8,967
BANK OF NEW YORK MELLON CORP/THE .75% 28 JAN 2026 8000 PAR	7,983	7,980
BP CAPITAL MARKETS AMERICA INC 3.796% 21 SEP 2025 8000 PAR	8,141	9,009
CAPITAL ONE FINANCIAL CORP 3.65% 11 MAY 2027 8000 PAR	7,996	9,065
CHARLES SCHWAB CORP/THE .9% 11 MAR 2026 9000 PAR	9,003	9,034
CITIGROUP INC VARIABLE .776% 30 OCT 2024 9000 PAR	9,001	9,027
DUKE ENERGY CORP 2.4% 15 AUG 2022 8000 PAR	7,849	8,231
DUPONT DE NEMOURS INC 4.205% 15 NOV 2023 8000 PAR	8,100	8,798
EXXON MOBIL CORP 2.44% 16 AUG 2029 9000 PAR	9,041	9,538
FANNIE MAE POOL FN 257234 5% 01 JUN 2023 32000 PAR	224	234
FANNIE MAE POOL FN 735580 5% 01 JUN 2035 79000 PAR	2,028	2,298
FANNIE MAE POOL FN 888021 6% 01 DEC 2036 179000 PAR	1,994	2,308
FANNIE MAE POOL FN 889415 6% 01 MAY 2037 193000 PAR	5,224	6,222
FANNIE MAE POOL FN 928480 6% 01 JUL 2037 29000 PAR	759	892
FANNIE MAE POOL FN 985615 5.5% 01 APR 2034 58000 PAR	895	1,009
FANNIE MAE POOL FN 995960 5% 01 DEC 2023 25000 PAR	137	142
FANNIE MAE POOL FN AA7236 4% 01 JUN 2039 16000 PAR	1,502	1,621
FANNIE MAE POOL FN AD0336 5% 01 FEB 2024 34000 PAR	271	281
FANNIE MAE POOL FN AE0103 6% 01 MAY 2039 89000 PAR	3,641	4,247
FANNIE MAE POOL FN AE0207 4.5% 01 NOV 2033 26000 PAR	1,470	1,590
FANNIE MAE POOL FN AE0981 3.5% 01 MAR 2041 19000 PAR	2,793	2,950
FANNIE MAE POOL FN AE3066 3.5% 01 SEP 2025 34000 PAR	1,466	1,550
FANNIE MAE POOL FN AH6827 4% 01 MAR 2026 30000 PAR	1,407	1,484
FANNIE MAE POOL FN AJ9355 3% 01 JAN 2027 19000 PAR	2,426	2,543
FANNIE MAE POOL FN AL0393 4.5% 01 JUN 2041 13000 PAR	1,699	1,866
FANNIE MAE POOL FN AL9554 3% 01 DEC 2031 15000 PAR	6,816	7,276
FANNIE MAE POOL FN AO4144 4% 01 JUN 2042 17000 PAR	2,377	2,555
FANNIE MAE POOL FN AQ0546 3.5% 01 NOV 2042 15000 PAR	3,666	3,997
FANNIE MAE POOL FN AS6191 3.5% 01 NOV 2045 6000 PAR	2,337	2,489
FANNIE MAE POOL FN AS9585 4% 01 MAY 2047 25000 PAR	12,797	13,925
FANNIE MAE POOL FN AT2062 2.5% 01 APR 2028 15000 PAR	3,705	3,893
FANNIE MAE POOL FN AT2720 3% 01 MAY 2043 27000 PAR	10,311	11,044
FANNIE MAE POOL FN AU3735 3% 01 AUG 2043 14000 PAR	5,629	6,047
FANNIE MAE POOL FN BH9288 4% 01 FEB 2048 16000 PAR	10,717	11,517
FANNIE MAE POOL FN BM3582 3% 01 FEB 2033 6000 PAR	3,551	3,872
FANNIE MAE POOL FN CA0853 3.5% 01 DEC 2047 18000 PAR	11,208	12,391
FANNIE MAE POOL FN FM1000 3% 01 APR 2047 18000 PAR	10,916	11,447
FANNIE MAE POOL FN FM1148 3.5% 01 DEC 2048 22000 PAR	9,628	9,891
FANNIE MAE POOL FN FM1456 2.5% 01 SEP 2028 18000 PAR	12,242	12,750
FANNIE MAE POOL FN FM5474 2.5% 01 OCT 2035 19000 PAR	19,794	19,743
FIFTH THIRD BANK NA 2.25% 14 JUN 2021 9000 PAR	8,983	9,052
FREDDIE MAC GOLD POOL FG G01840 5% 01 JUL 2035 81000 PAR	1,945	2,199
FREDDIE MAC GOLD POOL FG G04774 4.5% 01 JAN 2038 41000 PAR	1,230	1,323
FREDDIE MAC GOLD POOL FG G08344 4.5% 01 MAY 2039 22000 PAR	864	946
FREDDIE MAC GOLD POOL FG G08372 4.5% 01 NOV 2039 27000 PAR	1,472	1,571
FREDDIE MAC GOLD POOL FG G08463 4% 01 OCT 2041 15000 PAR	1,276	1,364
FREDDIE MAC GOLD POOL FG G08681 3.5% 01 DEC 2045 20000 PAR	6,424	6,771
FREDDIE MAC GOLD POOL FG G14056 4% 01 AUG 2025 32000 PAR	1,135	1,193
FREDDIE MAC GOLD POOL FG G18536 2.5% 01 JAN 2030 24000 PAR	7,066	7,331
FREDDIE MAC GOLD POOL FG G60658 3.5% 01 JUL 2046 4000 PAR	2,083	2,302
FREDDIE MAC GOLD POOL FG G67709 3.5% 01 MAR 2048 26000 PAR	16,318	18,400
FREDDIE MAC GOLD POOL FG J16353 3.5% 01 AUG 2026 29000 PAR	2,073	2,185
FREDDIE MAC GOLD POOL FG Q59805 4.5% 01 NOV 2048 10000 PAR	3,560	3,731
GILEAD SCIENCES INC 3.65% 01 MAR 2026 8000 PAR	8,175	9,013
GOLDMAN SACHS GROUP INC/THE VARIABLE 2.905% 24 JUL 2023 8000 PAR	7,901	8,283
HSBC HOLDINGS PLC VARIABLE 3.973% 22 MAY 2030 8000 PAR	8,132	9,083
INTERNATIONAL BUSINESS MACHINES CORP 3.45% 19 FEB 2026 8000 PAR	8,123	8,990
INTERNATIONAL BUSINESS MACHINES CORP 3.5% 15 MAY 2029 8000 PAR	8,006	9,092
KROGER CO/THE 2.65% 15 OCT 2026 8000 PAR	7,788	8,717
LOWE'S COS INC 3.65% 05 APR 2029 8000 PAR	8,495	9,150
MOLSON COORS BEVERAGE CO 3.5% 01 MAY 2022 8000 PAR	8,059	8,300
MORGAN STANLEY 3.7% 23 OCT 2024 15000 PAR	15,178	16,648
ORACLE CORP 2.625% 15 FEB 2023 8000 PAR	7,970	8,363
SOUTHERN CO 3.70% 30 APR 2030 8000 PAR	8,023	9,086
TD AMERITRADE HOLDING CORP 3.75% 01 APR 2024 8000 PAR	8,056	8,775
TOYOTA MOTOR CREDIT CORP .8% 09 JAN 2026 9000 PAR	8,992	8,986
TOYOTA MOTOR CREDIT CORP 3.4% 15 SEP 2021 8000 PAR	8,046	8,155
TRUIST FINANCIAL CORP 2.7% 27 JAN 2022 8000 PAR	7,963	8,178
VALERO ENERGY CORP 3.4% 15 SEP 2026 9000 PAR	8,987	9,766
VERIZON COMMUNICATIONS INC .85% 20 NOV 2025 9000 PAR	8,999	8,985
WALMART INC 3.55% 26 JUN 2025 8000 PAR	8,113	8,998
PGIM HIGH YIELD FUND 16743.159 SHS	88,444	92,422
HP INC 3.4% 17 JUN 2030 8000 PAR	7,987	8,699
EQUINOR ASA 3.7% 01 MAR 2024 8000 PAR	8,176	8,792
LLOYDS BANKING GROUP PLC SNR PIDI NTS 4.375% 22 MAR 2028 8000 PAR	8,089	9,370
MITSUBISHI UFJ FINANCIAL GROUP INC 2.801% 18 JUL 2024 8000 PAR	8,018	8,576
SHELL INTERNATIONAL FINANCE BV 2.375% 07 NOV 2029 9000 PAR	8,875	9,478
BANK OF NOVA SCOTIA/THE 2.2% 03 FEB 2025 9000 PAR	8,979	9,488
DOUBLELINE EMERGING MARKETS FIXED INCOME FUND 2608.991 SHS	26,298	27,707
ROYAL BANK OF CANADA .875% 20 JAN 2026 17000 PAR	16,996	16,993
VANGUARD EMERGING MARKETS BOND FUND 655.994 SHS	17,515	18,479

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ALPHABET INC 18 SHS	14,730	32,892
AMAZON.COM INC 18 SHS	22,307	57,712
APPLE INC 772 SHS	34,220	101,873
FACEBOOK INC 100 SHS	21,901	25,833
INTUIT INC 36 SHS	3,921	13,004
MASTERCARD INC 33 SHS	11,097	10,438
MICROSOFT CORP 362 SHS	39,388	83,970
NVIDIA CORP 54 SHS	11,331	28,058
QUALCOMM INC 203 SHS	15,763	31,725
SALESFORCE.COM INC 56 SHS	7,798	12,631
SBA COMMUNICATIONS CORP 44 SHS	13,402	11,821
TJX COS INC/THE 263 SHS	18,077	16,843
VERTEX PHARMACEUTICALS INC 53 SHS	10,383	12,141
VISA INC 153 SHS	21,810	29,567
WALT DISNEY CO/THE 165 SHS	23,046	27,748
ZOETIS INC 143 SHS	13,344	22,058
BLACKROCK INC 29 SHS	9,109	20,337
COMCAST CORP 472 SHS	17,809	23,397
COSTCO WHOLESALE CORP 38 SHS	13,036	13,392
ECOLAB INC 51 SHS	5,517	10,430
ELI LILLY & CO 116 SHS	9,702	24,125
HILTON WORLDWIDE HOLDINGS INC 132 SHS	14,847	13,383
HOME DEPOT INC/THE 83 SHS	11,998	22,478
HONEYWELL INTERNATIONAL INC 127 SHS	12,133	24,812
MCDONALD'S CORP 73 SHS	10,144	15,172
MONDELEZ INTERNATIONAL INC 325 SHS	17,711	18,018
NEXTERA ENERGY INC 272 SHS	6,174	21,997
PPG INDUSTRIES INC 112 SHS	13,586	15,088
PROCTER & GAMBLE CO/THE 109 SHS	10,683	13,975
THERMO FISHER SCIENTIFIC INC 58 SHS	7,707	29,563
UNITED PARCEL SERVICE INC 121 SHS	15,268	18,755
UNITEDHEALTH GROUP INC 66 SHS	19,712	22,016
CHEVRON CORP 173 SHS	18,728	14,740
CISCO SYSTEMS INC 194 SHS	8,841	8,649
CITIGROUP INC 227 SHS	14,378	13,164
CVS HEALTH CORP 275 SHS	16,982	19,704
DOMINION RESOURCES INC/VA 200 SHS	16,042	14,578
EXXON MOBIL CORP 331 SHS	25,893	14,842
GOLDMAN SACHS GROUP INC/THE 48 SHS	14,770	13,016
JPMORGAN CHASE & CO 198 SHS	11,639	25,477
MERCK & CO INC 213 SHS	12,377	16,416
PRUDENTIAL FINANCIAL INC 117 SHS	7,647	9,159
RAYTHEON TECHNOLOGIES CORP 289 SHS	17,923	19,285
TRUIST FINANCIAL CORP 252 SHS	7,966	12,091
VERIZON COMMUNICATIONS INC 382 SHS	19,193	20,915
WALMART INC 141 SHS	13,204	19,809
ARTISAN MID CAP FUND 1087.189 SHS	41,591	59,013
VICTORY RS SMALL CAP GROWTH FUND 540.613 SHS	47,547	56,035
ISHARES CORE S&P MID-CAP ETF 440 SHS	69,121	102,630
ISHARES CORE S&P SMALL-CAP ETF 1061 SHS	65,311	103,522
SYNCHRONY FINANCIAL 396 SHS	15,297	13,325
BEST BUY CO INC 154 SHS	17,615	16,758
FIFTH THIRD BANCORP 418 SHS	13,694	12,093
MSC INDUSTRIAL DIRECT CO INC 155 SHS	11,600	12,023
NUANCE MID CAP VALUE FUND 3042.574 SHS	39,827	42,413
PGIM QMA SMALL-CAP VALUE FUND 2395.773 SHS	44,653	40,009
CHUBB LTD 149 SHS	16,895	21,705
EATON CORP PLC 213 SHS	12,821	25,070
HARDING LOEVNER INTERNATIONAL EQUITY PORTFOLIO 5253.353 SHS	105,120	148,197
JOHCM INTERNATIONAL SELECT FUND 5609.555 SHS	126,171	169,745
LYONDELLBASELL INDUSTRIES NV 174 SHS	12,402	14,922
ARTISAN DEVELOPING WORLD FUND 2842.187 SHS	38,256	78,046
BARON EMERGING MARKETS FUND 9159.328 SHS	125,188	178,241

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

US Government Securities - End of Year Book Value:

202,232

US Government Securities - End of Year Fair Market Value:

207,926

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

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

- TIN:

TY 2020 OtherDecreasesSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Description	Amount
TIMING DIFFERENCES	1,027

- TIN:

TY 2020 OtherExpensesSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
TELEPHONE & INTERNET	1,357	0	1,357
PARKING	330	0	330
PO BOX RENTAL	148	0	148
INVESTMENT EXPENSES	999	999	0
OFFICE EXPENSE	2,458	0	2,458
PENALTIES - PAYROLL TAX	69	0	0

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
FEDERAL EXCISE TAX REFUND	2,868		2,868

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Description	Amount
ASSET BASIS ADJUSTMENTS	562

- TIN:

TY 2020 TaxesSchedule

Name:

KATE KINLOCH MIDDLETON FUND

REGIONS BANK TRUSTEE #1255000660

EIN:

63-6018539

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
PAYROLL TAXES	1,530	0	1,530
FEDERAL EXCISE TAXES	645	0	0
FOREIGN TAXES PAID	388	388	0