Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
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
ELLISON CHARITABLE REMAINDER TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2450
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MONTGOMERY, AL361022450
A Employer identification number

72-6240813
B Telephone number (see instructions)

(334) 230-6100
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$3,482,634J 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 31,992 31,992  
4 Dividends and interest from securities... 35,708 35,708  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 43,837
b Gross sales price for all assets on line 6a 867,512
7 Capital gain net income (from Part IV, line 2)... 43,837
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)....... Click to see attachment 18 18  
12 Total. Add lines 1 through 11........ 111,555 111,555  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 28,404 11,524   16,880
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,400     3,400
c Other professional fees (attach schedule)....        
17 Interest............... 1,697 1,697    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,209 920    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 213 207    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 37,923 14,348   20,280
25 Contributions, gifts, grants paid....... 163,611 163,611
26 Total expenses and disbursements. Add lines 24 and 25 201,534 14,348   183,891
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -89,979
b Net investment income (if negative, enter -0-) 97,207
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............. 90,054 74,913 74,913
2 Savings and temporary cash investments.........      
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..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,185,238 Click to see attachment1,178,671 1,724,614
c Investments—corporate bonds (attach schedule)....... 1,312,295 Click to see attachment1,240,442 1,309,171
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet233,010
Less: accumulated depreciation (attach schedule) bullet   233,010 Click to see attachment233,010 361,000
15 Other assets (describe bullet) Click to see attachment9,354 Click to see attachment12,936 Click to see attachment12,936
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,829,951 2,739,972 3,482,634
Liabilities 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 bullet)    
23 Total liabilities (add lines 17 through 22).........   0
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........... 2,829,951 2,739,972
25 Net assets with donor restrictions............    
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)..... 2,829,951 2,739,972
30 Total liabilities and net assets/fund balances (see instructions). 2,829,951 2,739,972
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
2,829,951
2
Enter amount from Part I, line 27a .....................
2
-89,979
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
2,739,972
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
2,739,972
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 STCL - SEE SALES DETAIL ATTACHED P    
b LTCG - SEE SALES DETAIL ATTACHED P    
c CLASS ACTION SETTLEMENT - WELLS FARG P   2020-12-04
d RAYTHEON TECHNOLOGIES P    
e CASH IN LIEU - OTIS WORLDWIDE P    
(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 278,049   280,380 -2,331
b 545,871   543,295 2,576
c 23     23
d 10,432     10,432
e 21     21
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       -2,331
b       2,576
c       23
d       10,432
e       21
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 43,837
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 3 245
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 1,351
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 1,351
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 1,351
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 2,360
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 2,360
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.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,009
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet1,009 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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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)
    bulletAL
    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 addressbulletNONE
    14
    The books are in care ofbulletREGIONS PRIVATE WEALTH MANAGEMENT Telephone no.bullet (334) 230-6100

    Located atbullet201 MONROE STREET SUITE 280MONTGOMERYAL ZIP+4bullet36104
    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
     
     
    ........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
     
     
    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
    REGIONS PRIVATE WEALTH MANAGEMENT TRUSTEE
    5.00     		28,404 0 0
    201 MONROE STREET SUITE 280
    MONTGOMERY,AL36104
    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  
    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
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    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
    2,783,935
    b
    Average of monthly cash balances.......................
    1b
    49,776
    c
    Fair market value of all other assets (see instructions)................
    1c
    361,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,194,711
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    3,194,711
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    47,921
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,146,790
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    157,340
    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
    157,340
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,351
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,351
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    155,989
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    155,989
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    155,989
    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
    183,891
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    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
    183,891
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    183,891
    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 7 155,989
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 12,448
    b From 2016...... 27,859
    c From 2017...... 22,127
    d From 2018...... 29,169
    e From 2019...... 16,656
    fTotal of lines 3a through e........ 108,259
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 183,891
    a Applied to 2019, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 155,989
    e Remaining amount distributed out of corpus 27,902
    5 Excess distributions carryover applied to 2020.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 136,161
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		12,448
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		123,713
    10 Analysis of line 9:
    a Excess from 2016.... 27,859
    b Excess from 2017.... 22,127
    c Excess from 2018.... 29,169
    d Excess from 2019.... 16,656
    e Excess from 2020.... 27,902
    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).)
    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
    HUNTINGDON COLLEGE
    1500 EAST FAIRVIEW
    MONTGOMERY,AL36106     		NONE PUBLIC EDUCATIONAL 163,611
    Total .................................bullet 3a 163,611
    bApproved for future payment
    Total .................................bullet 3b  
    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 31,992  
    4 Dividends and interest from securities....     14 35,708  
    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.....     15 18  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 43,837  
    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)..   111,555  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    111,555
    (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:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREP FEES 3,400     3,400

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AIR LEASE CORP 3.75% 6/1/26 10,676 12,100
    AMERICAN EXPRESS    
    AMERICAN HONDA FINANCE 16,978 17,042
    AMGEN INC CALLABLE DTD 10,916 11,554
    APPLE INC 1.25% 8/2030 10,978 11,002
    APPLE INC 2.1% 9/12/22 10,890 11,340
    APPLE INC 2.3% 5/11/22    
    BANK OF AMERICA CORP 10,000 11,291
    BANK OF NOVA SCOTIA 10,974 11,688
    BIOGEN INC    
    BP CAPITAL MARKETS AMERICA INC 3.796 10,070 11,340
    CAPITAL ONE FINANCIAL CORP 9,989 11,465
    CHARLES SCHWAB 10,992 11,141
    CITIGROUP 11,001 11,071
    DOUBLELINE EMERGING MARKETS FIXED 40,894 41,726
    DUKE ENERGY CORP 2.4% 10,728 11,332
    DUPONT DE NEMOURS 10,050 11,032
    EQUINOR ASA 3.7% 03/01/24 10,120 10,988
    EXXON MOBIL 8/16/29 11,023 11,940
    FEDERAL NATIONAL MORTGAGE ASSOC    
    FHLMC 2.5% 01/01/30 7,913 8,159
    FHLMC 2.5% 05/01/28 2,275 2,353
    FHLMC 3% 12/01/2026 4,354 4,491
    FHLMC 3.5% 03/01/48 20,759 23,281
    FHLMC 3.5% 04/01/47 20,666 20,516
    FHLMC 3.5% 08/01/26 1,848 1,983
    FHLMC 3.5% 12/01/25 1,625 1,691
    FHLMC 3.5% 12/01/45 15,289 16,030
    FHLMC 4% 07/01/48 5,511 5,626
    FHLMC 4% 08/01/25 968 1,084
    FHLMC 4% 10/01/41 1,051 1,160
    FHLMC 4% 10/01/43 3,098 3,256
    FHLMC 4.5% 05/01/39 693 804
    FHLMC 4.5% 01/01/38 888 996
    FHLMC 4.5% 10/1/39 7,520 8,069
    FHLMC 5% 07/01/35 1,603 1,973
    FHLMC 5% 07/01/40 2,678 2,945
    FIFTH THIRD BANK CALLABLE DTD 10,972 11,076
    FNMA 2.125% 04/24/26 9,235 10,895
    FNMA 2.5% 04/01/28 5,092 5,323
    FNMA 2.5% 6/1/32 10,561 10,845
    FNMA 2.5% 9/1/28 17,519 18,126
    FNMA 3% 01/01/27 1,965 2,064
    FNMA 3% 02/01/50 12,279 12,346
    FNMA 3% 04/01/27 2,116 2,185
    FNMA 3% 04/01/47    
    FNMA 3% 05/01/43 11,760 12,576
    FNMA 3% 08/01/43 10,426 11,116
    FNMA 3% 11/1/31 11,238 11,487
    FNMA 3% 12/01/26 4,756 4,971
    FNMA 3.5% 03/01/41 2,280 2,433
    FNMA 3.5% 05/01/42 5,807 6,136
    FNMA 3.5% 06/01/47 8,009 8,041
    FNMA 3.5% 08/01/26 5,471 5,682
    FNMA 3.5% 09/01/25 1,278 1,385
    FNMA 3.5% 11/01/42 3,061 3,306
    FNMA 3.5% 11/1/25    
    FNMA 3.5% 11/1/45 6,102 6,466
    FNMA 3.5% 12/01/47 14,670 16,260
    FNMA 3.5% 12/1/48 12,768 13,037
    FNMA 4% 02/01/48 12,361 13,240
    FNMA 4% 03/01/26 1,284 1,414
    FNMA 4% 05/01/47 12,190 13,302
    FNMA 4% 06/01/39 1,443 1,585
    FNMA 4% 06/01/42 1,884 2,050
    FNMA 4% 08/01/40 1,589 1,679
    FNMA 4% 10/01/47 12,107 12,654
    FNMA 4% 11/1/47    
    FNMA 4.5% 02/01/40 1,802 1,915
    FNMA 4.5% 06/01/41 1,702 1,907
    FNMA 4.5% 07/01/39 4,061 4,340
    FNMA 4.5% 11/01/33 1,047 1,186
    FNMA 5% 02/01/20    
    FNMA 5% 02/01/36 506 601
    FNMA 5% 06/01/25 359 390
    FNMA 5% 06/01/35 1,685 2,047
    FNMA 5% 11/01/36 1,520 1,681
    FNMA 5% 11/01/36    
    FNMA 5% 11/01/44 2,018 2,144
    FNMA 5.5% 04/01/34 768 961
    FNMA 5.5% 06/01/38 944 1,119
    FNMA 6% 05/01/38 38 44
    FNMA 6% 05/01/38 2,009 2,803
    FNMA 6% 09/01/37 551 766
    FNMA 6% 09/01/37 1,798 2,504
    FNMA 6% 11/01/37 1,645 1,938
    FORD MOTOR CREDIT    
    GENERAL ELECTRIC CAPITAL 5.3%    
    GILEAD SCIENCES INC CALLABLE 10,031 11,345
    GOLDMAN SACHS 2.905% 10,834 11,425
    HP INC 3.4% 9,982 11,129
    HSBC HOLDINGS PLC 3.973% 5/22/30 10,028 11,548
    INTER BUSINESS MACHINE 3.5% 5/15/29 9,977 11,571
    INTERNAT BUS MACHINES 3.45% 9,967 11,348
    KROGER CO/ THE CALLABLE DTD 10,889 12,015
    LLOYDS BANKING GROUP PLC 10,012 11,901
    LOWE'S COS INC 10,649 11,670
    MITSUBISHI UF FINANCIAL 2.801% 7/18/ 11,012 11,791
    MOLSON COORS BREWING CO 3.5% 11,032 11,438
    MORGAN STANLEY 3.7% 21,054 23,369
    ORACLE CORP 10,965 11,514
    PGIM HIGH YIELD FUND 133,678 133,084
    PRUDENTIAL FINANCIAL    
    ROYAL BANK OF CANADA 2.5% 01/19/21 11,000 11,010
    SHELL INTL FIN DTD 10,847 11,842
    SOUTHERN CO 10,005 11,579
    TD AMERITRADE HOLDING 9,978 10,979
    TOYOTA MOTOR CREDIT 2.95% 10,999 11,081
    TOYOTA MOTOR CREDIT 3.4% 10,983 11,236
    TRUIST FINANCIAL 2.7% 1/27/22 10,968 11,260
    US TREAS .25% 05/31/25 44,861 44,902
    US TREAS .375% 03/31/22 56,172 56,175
    US TREAS .375% 09/30/27 11,862 11,811
    US TREAS 1.25% 01/31/20    
    US TREAS 1.625% 05/15/26 50,410 56,412
    US TREAS 1.625% 8/15/29 61,685 66,306
    US TREAS 1.75% 4/30/22 43,793 43,927
    US TREAS 2.625% 11/15/20    
    US TREAS 2.75% 02/15/28 9,826 11,461
    VALERO ENERGY CORP 10,813 12,061
    VANGUARD EMERGING MARKETS 26,352 28,069
    VERIZON COMMUNICATIONS 10,999 11,086
    WALMART INC 3.55% 06/26/25 10,091 11,324
    WELLS FARGO 2.6% 1/15/21 10,994 11,007

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALAPHABET INC 10,058 26,290
    AMAZON 17,813 52,111
    APPLE INC 20,464 85,054
    ARTISAN FDS MID CAP 87,237 97,399
    AT&T    
    BARON EMERGING MARKETS INST 115,441 184,902
    BIOGEN INC 6,295 5,142
    BLACKROCK US OPP 7,692 16,595
    CHEVRON 16,562 13,005
    CHUBB LIMITED 13,858 18,932
    CISCO SYSTEMS 3,164 6,757
    CITIGROUP INC 9,612 10,791
    CME GROUP INC 6,879 7,100
    COGNIZANT TECHNOLOGY SOLUTIONS    
    COMCAST CORP CLASS A 14,310 20,174
    COSTCO WHOLESALE CORP 10,978 12,057
    CVS HEALTH CORP 14,018 15,504
    DOLLAR GENERAL 8,073 15,983
    DOMINON RESOURCES INC 13,204 12,558
    EATON CORP PLC ISIN 8,129 20,184
    ECOLAB INC 4,331 8,437
    ELI LILLY & CO 7,734 16,377
    EOG RESOURCES INC    
    EQUITY RESIDENTIAL    
    EXXON MOBIL 18,853 10,635
    FACEBOOK INC 17,754 22,399
    FIFTH THIRD BANCORP    
    HOME DEPOT 9,273 17,531
    HONEYWELL INTERNATIONAL 9,979 22,121
    INTUIT INC 2,380 10,256
    INVESCO INTERNATIONAL GROWTH 101,425 101,850
    ISHARES US REAL ESTATE    
    ISHARES US REAL ESTATE 16,327 16,530
    JB HUNT TRANSPORT SERVICES    
    JOHCM INTERNATIONAL SELECT FUND 91,424 136,752
    JP MORGAN 8,142 22,873
    JP MORGAN MID CAP VALUE FD    
    LYONDELLBASELL INDUSTRIES 10,477 12,924
    MASTERCARD INC 8,656 9,280
    MCDONALDS 6,731 12,231
    MERCK & CO 8,383 13,579
    MICROSOFT CORP 29,267 66,726
    MONDELEZ INTERNATIONAL    
    MONDELEZ INTERNATIONAL 14,591 15,787
    MSC INDUSTRIAL DIRECT 9,338 11,055
    NEXTERA ENERGY 3,093 17,899
    NIVDIA CORP 7,963 22,977
    NUANCE MID CAP VALUE FUND 62,644 67,430
    PEPSICO 11,304 20,021
    PGIM QMA SMALL-CAP VALUE FUND 83,079 62,962
    PPG INDUSTRIES INC 10,641 12,980
    PROCTER & GAMBLE 8,926 12,523
    PRUDENTIAL FINANCIAL 3,686 7,495
    QUALCOMM INC 12,187 24,374
    RAYTHEON TECHNOLOGIES CORP 12,285 17,591
    ROSS STORES INC    
    SALESFORCE.COM INC 6,544 10,459
    SBA COMMUNICATIONS CORP 11,067 10,157
    STRYKER    
    THERMO FISHER SCIENTIFIC 7,392 24,686
    TRUIST FINANCIAL CORP 6,695 10,065
    UNITED HEALTH GROUP INC 15,857 18,586
    UNITED PARCEL SERVICE 12,271 16,335
    UNITED TECHNOLOGIES    
    VERIZON 13,323 18,741
    VERTEX PHARMACEUTICALS 8,470 10,163
    VICTORY RS SMALL CAP GROWTH FUND 55,581 90,161
    VISA INC 17,694 26,685
    WAL MART STORES INC 13,360 21,623
    WALT DISNEY 18,207 24,640
    WEC ENERGY 6,740 8,651
    ZOETIS INC 10,810 19,529

    TY 2020 LandEtcSchedule2
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BIBB COUNTY LAND 233,010   233,010 361,000


    TY 2020 OtherAssetsSchedule
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INCOME RECEIVABLE 2,410 1,764 1,764
    PROCEEDS RECEIVABLE 6,725 11,138 11,138
    ACCRUED INTEREST CARRYOVER 219 34 34


    TY 2020 OtherExpensesSchedule
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    OTHER REAL ESTATE EXPENSE 207 207    
    OTHER EXPENSE 6      


    TY 2020 OtherIncomeSchedule2
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ROYALTY INCOME 18 18  


    TY 2020 TaxesSchedule
    Name:
    ELLISON CHARITABLE REMAINDER TRUST
    EIN:
    72-6240813
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE TAXES 575 575    
    FOREIGN TAXES 345 345    
    EXCISE TAXES 3,289