TY 2023 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.
right arrow

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

OMB No. 1545-0047

2023

Open to Public Inspection

For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023

Name of foundation
THE W DUKE KIMBRELL FAMILY FOUNDATION
CO JULIA B SINGH

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

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

A Employer identification number

20-3390787

B Telephone number (see instructions)

(704) 874-5105

C If exemption application is pending, check here right arrow

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............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

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 ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$102,438,461J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	4,258,675		4,258,675
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-556,973
b	Gross sales price for all assets on line 6a 11,751,822
7	Capital gain net income (from Part IV, line 2)...
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	15,241
12	Total. Add lines 1 through 11........	3,716,943		4,258,675
13	Compensation of officers, directors, trustees, etc.	50,000			50,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	2,618	2,618
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	8,250		8,250
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	329,180	291,680	37,500
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	54,980	4,980
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	445,028		299,278	95,750
25	Contributions, gifts, grants paid.......	4,584,435			4,584,435
26	Total expenses and disbursements. Add lines 24 and 25	5,029,463		299,278	4,680,185
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,312,520
b	Net investment income (if negative, enter -0-)			3,959,397
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2023)

Form 990-PF (2023)

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.........	12,844,538	47,808,526	47,808,526
	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)	52,318,210	List of Attached Documents: // Content 2,548,855	2,276,496
	b	Investments—corporate stock (attach schedule).......	13,826,261	List of Attached Documents: // Content 25,440,617	29,390,574
	c	Investments—corporate bonds (attach schedule).......	10,683,311	List of Attached Documents: // Content 13,606,736	13,073,922
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	9,283,342	List of Attached Documents: // Content 7,446,690	9,888,943
	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)	98,955,662	96,851,424	102,438,461
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	98,955,662	96,851,424
	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).....	98,955,662	96,851,424
	30	Total liabilities and net assets/fund balances (see instructions).	98,955,662	96,851,424

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

98,955,662

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

-1,312,520

Other increases not included in line 2 (itemize) right arrow

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

97,643,142

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

791,718

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

96,851,424

Form 990-PF (2023)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	MARKETABLE SECURITIES	P	2000-01-01	2023-12-31
b	HILLHOUSE CHINA FUND	P	2020-12-28	2023-12-28
c	CAPITAL GAINS FROM SCHEDULES K-1	P	2000-01-01	2023-12-31
d	Capital Gain Dividends
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	11,005,495	11,333,765	-328,270
b	638,225	975,030	-336,805
c	39,253		39,253
d			68,849
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			-328,270
b			-336,805
c			39,253
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	-556,973
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

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)	1	55,036
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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	55,036
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	55,036
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	76,094
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	40,000
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	116,094
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	61,058
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax61,058	Refunded	11

Form 990-PF (2023)

Page 4

Part VI-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. right arrow

$ (2) On foundation managers. right arrow

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

on foundation managers. right arrow

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 XIV..................................

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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

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

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

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 right arrow

N/A

The books are in care of right arrow

JULIA B SINGH Telephone no. right arrow

(704) 874-5105

Located at right arrow

531 COTTON BLOSSOM CIRCLEGASTONIANC ZIP+4 right arrow

28054

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

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

16 At any time during calendar year 2023, 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 right arrow

Form 990-PF (2023)

Page 5

Part VI-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? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

(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)? ......................

1a(5)

(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.) ...............

1a(6)

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 ........ right arrow

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 2023? .............

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 2023, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2023?....................

If "Yes," list the years right arrow

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? ..............................

If "Yes," did it have excess business holdings in 2023 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 2023.) .....................

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 2023? ..

Form 990-PF (2023)

Page 6

Part VI-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))? ..........

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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 ......... right arrow

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).

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

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

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?

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? .........................

Part VII

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-)
JULIA B SINGH	FOUNDATION DIR 5.00	50,000
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FOUNDATION DIR 5.00	50,000
PAMELA K WARLICK	FAMILY DIRECTOR 0.00	0
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FAMILY DIRECTOR 0.00	0
SHEPARD K HALSCH	FAMILY DIRECTOR 0.00	0
531 COTTON BLOSSOM CIRCLE GASTONIA,NC28054	FAMILY DIRECTOR 0.00	0

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


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









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

Form 990-PF (2023)

Page 7

Part VII

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............. right arrow

Part VIII-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 VIII-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......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

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

57,369,814

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

41,156,447

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

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

98,526,261

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

98,526,261

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

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

1,477,894

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

97,048,367

Minimum investment return. Enter 5% (0.05) of line 5................

4,852,418

Part X

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 IX, line 6..................

4,852,418

Tax on investment income for 2022 from Part V, line 5.......

55,036

Income tax for 2022. (This does not include the tax from Part V.) ...

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

55,036

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

4,797,382

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

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

4,797,382

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

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

4,797,382

Part XI

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 ..........

4,680,185

Program-related investments—total from Part VIII-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 XII, line 4. .......

4,680,185

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2023
1 Distributable amount for 2023 from Part X, line 7			4,797,382
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2022:
a From 2018......
b From 2019......
c From 2020......	44,607
d From 2021......
e From 2022......	80,858
f Total of lines 3a through e ........		125,465
4Qualifying distributions for 2023 from Part
XI, line 4: $ 4,680,185
a Applied to 2022, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2023 distributable amount.....			4,680,185
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2023.		117,197	117,197
(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		8,268
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 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........			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 2018 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		8,268
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....	8,268
e Excess from 2023....

Form 990-PF (2023)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-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 2023, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, 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 IX, 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 XIV

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 right arrow

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

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

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

cAny submission deadlines:

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

Form 990-PF (2023)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
GASTON DAY SCHOOL 2001 GASTON DAY SCHOOL ROAD GASTONIA,NC28056	NONE	PC	TAX EXEMPT EDUCATIONAL PURPOSE OF THE SCHOOL	1,212,935
GASTON COLLEGE FOUNDATION 201 US-321 DALLAS,NC28034	NONE	PC	TAX EXEMPT EDUCATIONAL PURPOSE OF THE ORGANIZATION	1,843,333
WOODS SERVICES 40 MARTIN GROSS DR LANGHOME,PA19047	NONE	PC	GENERAL TAX EXEMPT PURPOSE OF THE ORGANIZATION	10,000
CAROLINA THREAD TRAIL 4530 PARK RD SUITE 420 CHARLOTTE,NC28209	NONE	PC	GENERAL TAX EXEMPT PURPOSE OF THE ORGANIZATION	50,000
BEYOND BOUNDARIES CHILDRENS FOUNDAT 2333 BRICKELL AVE APT 906 MIAMI,FL33129	NONE	PC	TAX EXEMPT EDUCATIONAL PURPOSE OF THE ORGANIZATION	600,000
GASTON COUNTY JAYCEES PO BOX 4 GASTONIA,NC28053	NONE	PC	TO ASSIST WITH TAX EXEMPT COMMUNITY ACTIVITIES PERFORMED BY THE ORGANIZATION	1,500
SCHIELE MUSEUM OF NATURAL HISTORY 1500 E GARRISON BLVE GASTONIA,NC28054	NONE	PC	TAX EXEMPT PURPOSE TO FUND PUBLIC APPRECIATION OF NATURAL HISTORY AND SCIENCE	166,667
HABITAT FOR HUMANITY OF GASTON COUN 1840 E FRANKLIN BLVD GASTONIA,NC28054	NONE	PC	TAX EXEMPT LOW INCOME HOUSING PURPOSE OF THE ORGAINZATION	100,000
NORTH CAROLINA TEXTILE FOUNDATION NCSU BOX 7207 RALEIGH,NC27695	NONE	PC	TO ADVANCE TEXTILE INDUSTRY EDUCATION THROUGH WILSON COLLEGE OF TEXTILES, NC STATE UNIVERSIY	600,000
Total ................................. 3a				4,584,435

bApproved for future payment

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

Form 990-PF (2023)

Page 12

Part XV-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	4,258,675
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	-556,973
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aINVESTMENT PARTNERSHIPS			14	15,241
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				3,716,943

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

3,716,943

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

Part XV-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 XV-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 (2023)

Page 13

Part XVI

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 (2023)

Additional Data

Software ID:	23017517
Software Version:	2023v5.1

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING AND TAX PREPARATION	8,250	0	0	8,250

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BROWN ADVISORY MORT SEC	2,127,565	1,954,503
ARTISAN HIGH INCOME FUND	108,531	99,488
JPMBB COMM MORT SECS 07/15/2048	9,973	8,621
ARTISAN HIGH INCOME	1,477,870	1,412,868
DOLLAR GENERAL 3.875 4/15/27	69,838	62,987
AMPHENOL CORP 2.80 2/15/30	65,571	59,183
CONSOLIDATED EDISON 3.35 4/1/30	52,945	51,282
CROWN CASTLE INTL 3.30 7/1/30	64,661	58,276
XYLEM INC 2.25 1/30/31	64,849	55,684
FORTIS INC 3.055 10/4/26	67,911	61,702
CARMAX AUTO OWN VAR 2/16/24	44,998	42,176
CARMAX AUTO OWN TR 1.38 5/17/27	64,996	60,046
VERIZON MASTER VAR 11/22/27	69,988	69,999
MARVELL TECHNOLOGY 5.85 9/15/33	86,375	90,133
EQUINIX INC 3.200 11/18/29	83,666	87,251
APTIV PLC APTIV CORP 3.250 3/1/32	68,177	61,838
BROWN ADV SUSTAIN BND INST	938,062	778,540
PIMCO MORTGAGE OPPORTUNITIES FD	4,245,000	4,261,882
BOYUA INTERMEDIATE BOND I	1,800,000	1,791,837
ABBVIE INC 2.6 11/21/24	81,957	83,037
CARRIER GLOBAL 2.2242 2/15/25	57,501	58,143
AT&T 4.35 3/1/29	55,881	59,215
MICRON TECH INC 6.75 11/1/29	31,435	32,418
ROPER TECH 1.75 2/15/31	43,415	45,301
PERKINELMER INC 2.250 9/15/31	80,829	69,695
BIO RAD LABS INC 3.70 3/15/32	56,803	58,692
SPRINT CAPITAL 8.75 3/15/32	83,907	86,398
TRIMBLE INC 6.10 3/15/23	85,884	90,967
PNC FINL SVCS GROUP 6.875 10/20/34	61,102	61,058
TORONTO DOMINION BNK 5.264 12/11/26	85,404	86,670
BROWN ADV SUSTAIN BND INST	851,642	751,507
PIMCO MORTGAGE OPPORTUNITIES FD	520,000	522,525

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ALPHABET INC CL A	11,559	21,233
ALPHABET INC CL C	15,313	28,468
AMERIPRISE FINL INC	3,954	10,255
APPLE INC	15,556	31,767
BANK OF AMERICA	12,778	16,431
BERKSHIRE HATHAWAY INC CL B	20,969	31,743
CARMAX INC	7,680	9,899
EDWARDS LIFESCIENCES CORP	11,720	17,004
LOWES CO INC	5,778	9,570
MASTERCARD INC	19,532	38,386
MICROSOFT CORP	27,258	59,414
TJX COMPANIES INC	7,453	12,383
UNITED RENTALS INC	6,064	17,203
VISA INC CLASS A	22,268	39,834
ACCENTURE PLC IRELAND SHS	6,606	11,580
CANADIAN NATL RAILWAY CO	7,307	9,548
NOMAD FOODS LTD	8,969	9,763
SUNCOR ENERGY INC	11,514	14,514
AMAZON COM INC	18,740	28,109
BOOKING HOLDINGS INC	8,622	17,736
KKR CO INC A	13,790	28,335
SBA COMMUNICATIONS CORP	7,524	9,640
TAIWAN SEMICONDUCTOR	11,091	18,408
AKRE FOCUS FUND	695,770	906,767
MERCK CO	5,055	7,413
AKRE FOCUS FUND	82,587	108,118
BROWN ADV GLOBAL LDRS INST	518,952	527,211
AGILENT TECHNOLOGIES	9,494	12,513
BA BEUTL GDMAN LRG CAP INST	4,900,000	5,329,207
BA BEUTL GDMAN LRG CAP INST	335,916	389,869
ANALOG DEVICES	7,900	12,311
BLACKSTONE GROUP CL A	3,995	8,510
CARRIER GLOBAL CORP	2,793	8,330
INTUIT INC	10,373	20,001
UNITEDHEALTH GROUP INC	17,241	27,903
ISHARES MSCI ACWI ETF	2,787,212	3,108,056
META PLATFORMS INC	16,874	31,148
PINTEREST INC CL A	8,616	7,297
T MOBILE US INC	8,905	11,063
ISHARES MSCI ACWI	162,707	192,244
LAZARD CL LIST INFRASTR INST	2,632,887	2,506,538
LAZARD CL LIST IFRASTR INST	228,335	211,208
ADOBE INC	105,655	145,570
ALIGN TECHNOLOGY	9,560	11,508
AVANTOR INC	13,049	11,347
BAKER HUGHES COMPANY	8,012	9,639
ELEVANCE HEALTH INC	10,003	16,505
FISERV INC	10,281	12,354
NETFLIX COM INC	4,972	8,276
ADOBE INC	8,453	13,722
AGILENT TECHNOLOGIES	111,534	134,303
ALIGN TECHNOLOGY	104,994	123,300
ALPHABET INC CL A	139,740	226,857
ALPHABET INC CL C	187,346	304,268
AMAZON COM INC	250,430	300,993
AMERIPRISE FINL INC	66,445	109,771
ANALOG DVICES INC	93,273	132,837
APPLE INC	189,045	340,008
AVANTOR INC	143,536	121,501
BAKER HUGHES CO	91,915	103,292
BANK OF AMERICA CORP	146,835	176,094
BERKSHIRE HATHAWAY INC CL B	241,719	341,324
BLACKSTONE GROUP INC CL A	56,262	91,644
BOOKING HOLDINGS INC	140,035	195,097
BRIGHT HORIZONS FAMILY SOLUTIONS	88,582	78,785
CARMAX INC	90,199	106,438
CARRIER GLOBAL CORPORATION	53,265	89,392
EDWARDS LABSCIENCES CORP	126,842	182,314
ELEVANCE HEALTH INC	112,872	175,892
FISERV INC	117,257	132,840
INTUIT INC	148,775	216,260
KKR CO INC A	201,241	303,645
LOWES CO INC	67,054	102,596
MASTERCARD INC	244,902	412,862
MERCK CO INC	52,594	79,040
META PLATFORMS INC	224,498	334,846
MICROSOFT CORP COM	347,115	638,516
NETFLIX COM INC	64,244	91,047
PINTEREST INC CL A	98,622	78,340
SBA COMMUNICATIONS CORP	87,063	104,520
TJX COMPANIES INC	96,135	132,929
UNITED RENTALS INC COM	104,511	187,508
UNITEDHEALTH GROUP INC	199,474	297,456
VISA INC CLASS A	270,606	425,412
ACCENTURE PLC IRELAND SHS	79,774	124,222
CANADIAN NATL RAILWAY CO	83,045	102,137
NOMAD FOODS LTD	97,726	104,683
SUNCOR ENERGY INC	133,932	155,682
TAIWAN SEMICONDUCTOR	141,803	197,600
FIRST CTZNS BANCSHARES INC CL A	9,857	15,609
T MOBILE US INC	104,416	119,286
ARTISAN INTL VALUE FUND INS	954,156	1,076,941
DIMENSIONAL ETF TR	3,094,786	3,171,784
DIMENSIONAL INTL CR EQ MKT	1,005,227	1,002,801
ULTIMUS MANAGE WESTWOOD SA MLP	1,010,494	1,068,933
FIRST CTZNS BANCSHARES CL A	119,321	167,438
GENERAL ELECTRIC	106,093	113,463
PROGRESSIVE CORP	100,264	118,026
UBER TECHNOLOGIES	77,443	98,266
FERGUSON PLC NEW SHARES	145,161	159,862
ARTISAN INTL VALUE FUND INS	175,988	196,100
DIMENSIONAL ETF TR	250,496	261,732
ULTIMUS MANAGE WESTWOOD SA MLP	59,630	65,257
GENERAL ELECTRIC	9,445	10,593
PROGRESSIVE CORP	8,357	10,990
UBER TECHNOLOGIES INC	6,012	9,174
FERGUSON PLC NEW SHARES	12,623	14,866
BRIGHT HORIZONS FAMILY SOLU	7,966	7,351

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

US Government Securities - End of Year Book Value:

2,511,711

US Government Securities - End of Year Fair Market Value:

2,240,373

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

37,144

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

36,123

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BLACKSTONE REAL ESTATE INC TR	AT COST	1,395,127	1,611,128
BLACKSTONE REAL ESTATE INC TR	AT COST	184,417	209,618
VIKING LONG FUND	AT COST	200,000	203,826
LEXINGTON PARTNERS	AT COST	107,497	107,497
ENERGY CAP MEZZANINE	AT COST	91,268	91,268
HAYFIN DIRECT LENDING	AT COST	85	85
CRESCENT MEZZANINE PARTNERS	AT COST	150,225	144,426
VIKING LONG FUND	AT COST	850,000	1,370,894
DRA GROWTH & INCOME FUND IX	AT COST	287,022	302,061
YUKON CAPITAL PARTNERS III	AT COST	68,809	103,388
CANTILLON GLOBAL EQUITY	AT COST	1,900,000	2,386,062
CANTILLON GLOBAL EQUITY	AT COST	149,049	187,499
HILLHOUSE CHINA VAL FD-SRS 1	AT COST	2,782	2,782
HILLHOUSE CHINA VAL FD-SRS 1	AT COST	409	409

- TIN:

TY 2023 LegalFeesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES RELATED TO INVESTMENT ACTIVIT	2,618	2,618	0	0

- TIN:

TY 2023 OtherDecreasesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Description	Amount
NONDEDUCTIBLE COST BASIS WRITEDOWNS	791,718

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
INVESTMENT PARTNERSHIPS	15,241

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
9	291,680	291,680	0	0
ADMINISTRATIVE SERVICE FEES	37,500	0	0	37,500

- TIN:

TY 2023 TaxesSchedule

Name:

THE W DUKE KIMBRELL FAMILY FOUNDATION

CO JULIA B SINGH

EIN:

20-3390787

Software ID:

23017517

Software Version:

2023v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL INCOME TAX PAYMENT	50,000
FOREIGN INCOME TAX	4,980	4,980