Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 07-01-2018 , and ending 06-30-2019
Name of foundation
CHARLES A GUNDELACH MEMORIAL FUND
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

43-6395177
B Telephone number (see instructions)

(314) 418-2643
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$6,210,808J 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      
4 Dividends and interest from securities... 141,652 141,652  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 484,907
b Gross sales price for all assets on line 6a 1,875,836
7 Capital gain net income (from Part IV, line 2)... 484,907
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 626,559 626,559  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 90,068 45,034   45,034
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 1,499 1,499   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 19,681 1,846   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 999 999    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 112,247 49,378 0 45,034
25 Contributions, gifts, grants paid....... 281,159 281,159
26 Total expenses and disbursements. Add lines 24 and 25 393,406 49,378 0 326,193
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 233,153
b Net investment income (if negative, enter -0-) 577,181
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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.............      
2 Savings and temporary cash investments......... 54,923 84,407 84,407
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
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)....... 4,241,508 Click to see attachment4,445,153 6,126,401
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,296,431 4,529,560 6,210,808
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 SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 4,296,431 4,529,560
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 4,296,431 4,529,560
31 Total liabilities and net assets/fund balances (see instructions). 4,296,431 4,529,560
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 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
4,296,431
2
Enter amount from Part I, line 27a .....................
2
233,153
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
4,529,584
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
24
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
4,529,560
Form 990-PF (2018)
Form 990-PF (2018)
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 1. AMERICAN INTL GROUP INC   1911-11-11 2018-07-02
b .644 ATT INC   2016-02-24 2018-08-16
c 423. EDUCATION REALTY TRUST INC   2017-06-06 2018-09-20
d .75 RIGHTMOVE PLC UNSP A D R   2018-06-22 2018-09-20
e .7 GARRETT MOTION INC   2015-06-12 2018-10-23
320. PINNACLE FOODS INC   2016-02-24 2018-10-26
.8333 RESIDEO TECHNOLOGIES INC   2015-06-12 2018-11-05
263. AETNA INC   2016-02-24 2018-11-29
.808 CONAGRA FOODS INC   2018-10-26 2019-01-17
.3414 CVS CORP COM   2018-11-28 2019-01-30
.056 APARTMENT INVT MGMT CO A   2016-06-24 2019-02-21
1. PFIZER INC   1911-11-11 2019-03-13
.3333 DOW INC   2016-02-24 2019-04-17
171. ELLIE MAE INC   2016-02-24 2019-04-17
.173 APARTMENT INVT MGMT CO A   2016-06-24 2019-05-20
.3333 CORTEVA INC   2016-02-24 2019-06-18
.333 DUPONT DE NEMOURS INC WI   2016-02-24 2019-06-19
833. ABB LTD A D R   2018-06-22 2019-06-25
539. AIA GROUP LTD ADR   2018-06-22 2019-06-25
572. ATT INC   2016-02-24 2019-06-25
501. ABBOTT LABORATORIES   2018-06-22 2019-06-25
501. ALTRIA GROUP INC   2016-02-24 2019-06-25
178. APPLE COMPUTER INC COM   2011-06-16 2019-06-25
290. AVERY DENNISON CORP   2016-02-24 2019-06-25
314. BARNES GROUP INC   2018-06-22 2019-06-25
201. CNOOC LTD A D R   2018-06-22 2019-06-25
220. CVS CORP COM   2018-11-28 2019-06-25
2665. CANON INC ADR REPSTG 5 SHS   2016-02-24 2019-06-25
160. CARTERS INC   2016-02-24 2019-06-25
706. CHEFS WAREHOUSE HOLDINGS LLC   2016-02-24 2019-06-25
352. COGNEX CORP   2016-02-24 2019-06-25
1192. COMCAST CORP CL A   2016-02-24 2019-06-25
207. CONAGRA FOODS INC   2018-10-26 2019-06-25
68. COVETRUS INC NPV   2016-02-24 2019-06-25
702. DELTA AIR LINES INC   2016-02-24 2019-06-25
808. EQUINOR ASA SPON ADR   2018-06-22 2019-06-25
107. FACTSET RESH SYS INC COM   2016-02-24 2019-06-25
709. FRESENIUS MED AKTIENGESELLSCHAFT ADR   2016-02-24 2019-06-25
341. GILEAD SCIENCES INC COM   2011-06-16 2019-06-25
930. HP INC   2017-06-06 2019-06-25
365. H E I C O CORPORATION CL A   2016-02-24 2019-06-25
123. HOME DEPOT INC COM   2016-02-24 2019-06-25
184. HUNT J B TRANS SVCS INC   2016-02-24 2019-06-25
2537. HUNTINGTON BANCSHARES INC   2016-02-24 2019-06-25
92. IPG PHOTONIC CORP COM   2016-02-24 2019-06-25
136. INTL FLAVORS FRAGRANCES   2016-02-24 2019-06-25
276. KELLOGG CO   2018-06-22 2019-06-25
909. KITE REALTY GROUP TRUST   2017-06-06 2019-06-25
425. LINCOLN NATL CORP COM   2015-06-12 2019-06-25
1929. MELCO CROWN ENTERTAINMENT LMTD A D R   2017-06-06 2019-06-25
377. MERCK AND CO INC   2016-02-24 2019-06-25
587. MICROSOFT CORP COM   1995-12-11 2019-06-25
435. NATIONAL RETAIL PROPERTIES INC   2017-06-06 2019-06-25
312. NESTLE S A SPONSORED ADR REPSTG REG SH   2008-02-12 2019-06-25
262. NESTLE S A SPONSORED ADR REPSTG REG SH   2017-06-06 2019-06-25
616. NETAPP INC   2017-06-06 2019-06-25
235. NORTHERN TR CORP COM   2016-02-24 2019-06-25
145. NORTHROP GRUMMAN CORP COM W/RTS ATTACHED EXP 10/31/2008   2016-02-24 2019-06-25
202. NVIDIA CORP   2016-06-24 2019-06-25
298. OLLIES BARGAIN OUTLET HOLDI   2016-02-24 2019-06-25
1073. ON SEMICONDUCTOR CORP COM   2018-06-22 2019-06-25
439. ORIX CORP SPONS A D R   2017-06-06 2019-06-25
98. OUTFRONT MEDIA INC   2014-06-12 2019-06-25
334. POSCO A D R   2016-06-24 2019-06-25
1318. RPC ENERGY SVCS INC   2018-06-22 2019-06-25
232. RAYMOND JAMES FINL INC   2016-02-24 2019-06-25
757. RECKITT BENCKISER SPON A D R   2016-02-24 2019-06-25
1068. RELX PLC SPON A D R   2016-02-24 2019-06-25
52. RESIDEO TECHNOLOGIES INC   2015-06-12 2019-06-25
170. SCHEIN HENRY INC COM W/RIGHTS ATTACHED EXPIRING 11/30/2008   2016-02-24 2019-06-25
141. SEMPRA ENERGY   2017-06-06 2019-06-25
1050. SMITH NEPHEW P L C A D R   2016-02-24 2019-06-25
439. SONY CORP AMERN SH NEW   2017-06-06 2019-06-25
241. STANLEY BLACK DECKER INC   2017-06-06 2019-06-25
1408. STMICROELECTRONICS N V   2017-06-06 2019-06-25
326. SYSCO CORP COM   2016-06-24 2019-06-25
767. TEVA PHARMACEUTICAL INDS LTD ADR   2018-06-22 2019-06-25
337. TEXAS ROADHOUSE INC   2016-02-24 2019-06-25
839. TREASURY WINE ESTATES LTD A D R   2008-12-16 2019-06-25
283. TYSON FOODS INC CL A   2018-06-22 2019-06-25
115. UNITEDHEALTH GRP INC COM   2016-02-24 2019-06-25
514. VERIZON COMMUNICATIONS   2006-06-19 2019-06-25
134. VMWARE INC CL A   2017-06-06 2019-06-25
96. WASHINGTON PRIME GROUP   2011-06-16 2019-06-25
3000. WHITESTONE REIT B   2011-11-15 2019-06-25
237. ALLEGION PLC   2018-06-22 2019-06-25
215. MEDTRONIC PLC   2015-06-12 2019-06-25
168. LYONDELLBASELL INDUSTRIES CL A   2014-06-20 2019-06-25
CAPITAL GAIN DIVIDENDS 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 35     35
b 21   24 -3
c 17,555   16,287 1,268
d 9   11 -2
e 10   8 2
21,198   13,593 7,605
20   15 5
55,920   27,890 28,030
16   29 -13
22   28 -6
3   2 1
698     698
20   15 5
16,929   14,469 2,460
9   7 2
9   8 1
25   23 2
16,461   18,776 -2,315
22,638   18,903 3,735
18,562   21,180 -2,618
42,370   31,207 11,163
24,220   30,480 -6,260
35,128   8,244 26,884
32,523   18,546 13,977
16,984   18,730 -1,746
34,013   32,816 1,197
11,768   17,757 -5,989
79,725   76,985 2,740
14,915   14,020 895
23,347   12,456 10,891
16,295   6,432 9,863
51,195   34,406 16,789
5,973   7,374 -1,401
1,600   3,095 -1,495
39,375   33,997 5,378
15,959   21,549 -5,590
30,765   15,875 14,890
27,385   31,581 -4,196
23,331   6,755 16,576
19,158   17,121 2,037
37,032   7,672 29,360
25,247   15,189 10,058
16,242   13,859 2,383
33,945   21,688 12,257
13,393   7,503 5,890
20,086   14,397 5,689
15,032   18,641 -3,609
13,795   16,615 -2,820
26,414   26,027 387
41,326   43,959 -2,633
32,113   18,966 13,147
78,653   3,453 75,200
23,660   16,609 7,051
32,241   13,447 18,794
27,075   22,742 4,333
37,941   23,965 13,976
20,157   13,540 6,617
46,732   27,363 19,369
30,958   9,174 21,784
25,800   6,115 19,685
20,745   26,081 -5,336
32,502   35,735 -3,233
2,560   2,621 -61
17,773   14,029 3,744
9,430   18,672 -9,242
18,647   20,266 -1,619
12,187   13,982 -1,795
26,379   17,491 8,888
1,066   933 133
11,838   10,972 866
19,827   16,552 3,275
45,658   34,435 11,223
23,166   16,806 6,360
34,010   33,097 913
23,499   23,108 391
23,352   16,180 7,172
6,720   18,477 -11,757
17,889   14,167 3,722
8,675   1,838 6,837
23,433   19,658 3,775
28,626   13,736 14,890
29,770   14,961 14,809
23,146   12,296 10,850
335   1,276 -941
37,570   30,533 7,037
25,569   18,455 7,114
21,382   16,109 5,273
14,590   16,845 -2,255
      1,461
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       35
b       -3
c       1,268
d       -2
e       2
      7,605
      5
      28,030
      -13
      -6
      1
      698
      5
      2,460
      2
      1
      2
      -2,315
      3,735
      -2,618
      11,163
      -6,260
      26,884
      13,977
      -1,746
      1,197
      -5,989
      2,740
      895
      10,891
      9,863
      16,789
      -1,401
      -1,495
      5,378
      -5,590
      14,890
      -4,196
      16,576
      2,037
      29,360
      10,058
      2,383
      12,257
      5,890
      5,689
      -3,609
      -2,820
      387
      -2,633
      13,147
      75,200
      7,051
      18,794
      4,333
      13,976
      6,617
      19,369
      21,784
      19,685
      -5,336
      -3,233
      -61
      3,744
      -9,242
      -1,619
      -1,795
      8,888
      133
      866
      3,275
      11,223
      6,360
      913
      391
      7,172
      -11,757
      3,722
      6,837
      3,775
      14,890
      14,809
      10,850
      -941
      7,037
      7,114
      5,273
      -2,255
       
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 2 484,907
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 311,110 5,886,637 0.05285
2016 279,124 5,136,207 0.054344
2015 256,496 4,892,937 0.052422
2014 303,022 5,472,161 0.055375
2013 299,714 5,293,549 0.056619
2
Total of line 1, column (d) .....................
2
0.27161
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.054322
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
6,002,175
5
Multiply line 4 by line 3......................
5
326,050
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
5,772
7
Add lines 5 and 6........................
7
331,822
8
Enter qualifying distributions from Part XII, line 4,.............
8
326,193
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
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 includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 11,544
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 11,544
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 11,544
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 9,452
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 9,452
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 2,092
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet0 RefundedBullet 11 0
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 Instructions
for 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)
    bulletMO
    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 2018 or the taxable year beginning in 2018? 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 (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletUS BANK NA Telephone no.bullet (314) 418-2643

    Located atbulletPO BOX 387ST LOUISMO ZIP+4bullet63166
    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 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    US BANK NA TRUSTEE
    1     		90,068    
    PO BOX 387
    ST LOUIS,MO63166
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    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.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    6,016,405
    b
    Average of monthly cash balances.......................
    1b
    77,174
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    6,093,579
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    6,093,579
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    91,404
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    6,002,175
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    300,109
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    300,109
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    11,544
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    11,544
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    288,565
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    288,565
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    288,565
    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
    326,193
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    326,193
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    326,193
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 288,565
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 53,393
    b From 2014...... 35,884
    c From 2015...... 16,871
    d From 2016...... 27,872
    e From 2017...... 26,227
    fTotal of lines 3a through e........ 160,247
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 326,193
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 288,565
    e Remaining amount distributed out of corpus 37,628
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 197,875
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		53,393
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		144,482
    10 Analysis of line 9:
    a Excess from 2014.... 35,884
    b Excess from 2015.... 16,871
    c Excess from 2016.... 27,872
    d Excess from 2017.... 26,227
    e Excess from 2018.... 37,628
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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).)
    NONE
    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.
    NONE
    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 (2018)
    Form 990-PF (2018)
    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
    AMERICAN HEART ASSN CA AFFILIATE
    1710 GILBRETH ROAD
    BURLINGAME,CA940101317     		NONE PC GENERAL OPERATING 31,209
    STANFORD UNIVERSITY
    ATTN FUND ACCOUNTING
    3145 PORTER DR
    PALO ALTO,CA94304     		NONE PC SCHOLARSHIPS 93,626
    ROLLINS COLLEGE
    1000 HOLT AVENUE - 2715
    WINTER PARK,FL327892715     		NONE PC SCHOLARSHIPS 120,617
    WHEAT RIDGE MINISTRIES
    ATTN STEVE BRUEGGEMAN
    ONE PIERCE PLACE SUITE 250E
    ITASCA,IL60143     		NONE PC GENERAL OPERATING 35,707
    Total .................................bullet 3a 281,159
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 ...........     		         
    4 Dividends and interest from securities....     14 141,652  
    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 ............     		    18 484,907  
    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)..   626,559  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    626,559
    (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 (2018)
    Form 990-PF (2018)
    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 instr.)?
    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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    CHARLES A GUNDELACH MEMORIAL FUND
    EIN:
    43-6395177
    Name of Stock End of Year Book Value End of Year Fair Market Value
    15135B101 CENTENE CORP COM 25,162 46,776
    907818108 UNION PACIFIC CORP 35,074 44,307
    110122108 BRISTOL MYERS SQUIBB 10,367 17,097
    478160104 JOHNSON JOHNSON 39,572 76,325
    053015103 AUTOMATIC DATA PROCE 15,043 29,594
    03027X100 AMERICAN TOWER CORP 28,574 63,584
    592688105 METTLER-TOLEDO INTL 14,072 37,800
    23636T100 DANONE SPONS A D R 21,505 25,954
    67066G104 NVIDIA CORP    
    679580100 OLD DOMINION FGHT LI 22,612 36,718
    526107107 LENNOX INTERNATIONAL 14,253 31,350
    00817Y108 AETNA INC    
    247361702 DELTA AIR LINES INC    
    02209S103 ALTRIA GROUP INC    
    57060D108 MARKETAXESS HLDGS IN 12,082 33,749
    72348P104 PINNACLE FOODS INC    
    02079K107 ALPHABET INC CL C 10,220 44,317
    37045V100 GENERAL MOTORS CO 20,969 28,281
    163086101 CHEFS WAREHOUSE HOLD 10,004 19,885
    75955B102 RELX NV SPON A D R    
    20030N101 COMCAST CORP CL A 25,400 37,206
    12514G108 CDW CORP DE 28,976 29,859
    74340W103 PROLOGIS INC 25,939 36,686
    500467501 KONINKLIJKE AHOLD DE 21,646 22,999
    93964W108 WASHINGTON PRIME GRO    
    534187109 LINCOLN NATL CORP IN    
    580135101 MCDONALDS CORP 13,957 24,919
    835699307 SONY CORP A D R    
    931142103 WAL MART STORES INC 46,695 75,575
    665859104 NORTHERN TR CORP    
    358029106 FRESENIUS MED AKTIEN    
    216648402 COOPER COS INC 14,126 33,689
    693483109 POSCO A D R    
    34407D109 FLY LEASING LTD A D 31,715 46,798
    40434L105 HP INC    
    13057Q206 CALIFORNIA RES CORP 14 20
    75524B104 RBC BEARINGS INC 19,585 31,360
    571748102 MARSH MCLENNAN COS I 19,162 33,516
    742718109 PROCTER GAMBLE CO 11,004 36,733
    053611109 AVERY DENNISON CORP 11,256 20,360
    172908105 CINTAS CORP 13,948 39,627
    594918104 MICROSOFT CORP 5,624 128,066
    653656108 NICE SYS LTD SPONSOR 30,029 68,363
    654624105 NIPPON TELEGRAPH TEL 33,370 31,710
    861012102 STMICROELECTRONICS N    
    49803T300 KITE REALTY GROUP TR    
    09247X101 BLACKROCK INC 15,114 23,465
    92343V104 VERIZON COMMUNICATIO    
    854502101 STANLEY BLACK DECKER    
    89465J109 TREASURY WINE ESTATE    
    458140100 INTEL CORP 30,420 68,885
    872540109 TJX COMPANIES INC 29,919 42,727
    437076102 HOME DEPOT INC 48,653 81,940
    125896100 C M S ENERGY CORP 14,036 20,326
    641069406 NESTLE SA SPONSORED 17,424 42,601
    32054K103 FIRST INDL RLTY TR I 16,506 20,538
    74460D109 PUBLIC STORAGE INC 19,960 19,054
    426281101 JACK HENRY ASSOCIATE 14,010 22,499
    91913Y100 VALERO ENERGY CORP 32,079 45,716
    949746101 WELLS FARGO CO 18,826 18,975
    03662Q105 A N S Y S INC 7,966 26,217
    741511109 PRICE SMART INC 15,559 10,224
    744320102 PRUDENTIAL FINANCIAL 20,798 32,926
    45841N107 INTERACTIVE BROKERS 22,331 33,712
    N53745100 LYONDELLBASELL INDUS    
    00287Y109 ABBVIE INC 8,120 30,252
    88579Y101 3M CO 20,984 17,681
    761152107 RESMED INC 13,938 29,531
    29084Q100 EMCOR GROUP INC 40,609 48,631
    422806208 H E I C O CORPORATIO 6,200 30,494
    83175M205 SMITH NEPHEW P L C 16,052 18,505
    58933Y105 MERCK AND CO INC 27,270 54,838
    69007J106 OUTFRONT MEDIA INC    
    585464100 MELCO CROWN ENTERTAI 19,826 18,896
    G3922B107 GENPACT LIMITED 14,253 20,683
    48268K101 KT CORP SP A D R 48,090 47,526
    681116109 OLLIES BARGAIN OUTLE 4,370 18,554
    146229109 CARTERS INC    
    64110D104 NETAPP INC    
    882681109 TEXAS ROADHOUSE INC    
    28849P100 ELLIE MAE INC    
    617700109 MORNINGSTAR INC 16,972 31,387
    00206R102 ATT INC 22,072 21,212
    037833100 APPLE INC 21,399 91,439
    882508104 TEXAS INSTRUMENTS IN 16,509 36,379
    666807102 NORTHROP GRUMMAN COR    
    693475105 P N C FINANCIAL SERV 23,515 32,810
    031162100 AMGEN INC 23,283 29,485
    00687A107 ADIDAS AG A D R 15,746 36,394
    17275R102 CISCO SYSTEMS INC 48,599 90,469
    375558103 GILEAD SCIENCES INC    
    03748R101 APARTMENT INVT MGMT    
    539830109 LOCKHEED MARTIN CORP 55,556 67,982
    229663109 CUBESMART 13,918 15,650
    637417106 NATIONAL RETAIL PROP    
    015271109 ALEXANDRIA REAL ESTA 13,813 25,961
    92932M101 WNS HOLDINGS LTD ADR 13,963 30,074
    060505104 BANK OF AMERICA CORP 39,136 50,808
    174610105 CITIZENS FINANCIAL G 35,138 36,385
    438516106 HONEYWELL INTERNATIO 31,532 55,345
    62942M201 NTT DOCOMO INC A D R 41,856 40,985
    28140H203 EDUCATION REALTY TRU    
    60687Y109 MIZUHO FNL GRP A D R 23,990 23,501
    44980X109 IPG PHOTONIC CORP CO    
    713448108 PEPSICO INC 25,630 33,963
    171340102 CHURCH AND DWIGHT CO 14,091 22,649
    445658107 HUNT J B TRANS SVCS    
    754730109 RAYMOND JAMES FINL I 11,999 23,843
    138006309 CANON INC SPONS A D    
    816851109 SEMPRA ENERGY    
    828806109 SIMON PROPERTY GROUP 23,655 26,680
    521865204 LEAR CORP 25,445 36,349
    46625H100 J P MORGAN CHASE CO 62,653 121,974
    166764100 CHEVRON CORPORATION 47,659 58,238
    05278C107 AUTOHOME INC 13,789 48,118
    025537101 AMERICAN ELECTRIC PO 14,026 19,714
    369550108 GENERAL DYNAMICS COR 9,568 37,273
    459506101 INTL FLAVORS FRAGRA    
    494368103 KIMBERLY CLARK CORP 14,005 14,261
    717081103 PFIZER INC 25,610 37,082
    871829107 SYSCO CORP    
    192422103 COGNEX CORP    
    806407102 SCHEIN HENRY INC COM    
    466313103 JABIL CIRCUIT INC 23,503 36,214
    303075105 FACTSET RESEARCH SYS 12,314 23,784
    22822V101 CROWN CASTLE INTL CO 14,051 21,247
    G5960L103 MEDTRONIC PLC    
    12572Q105 CME GROUP INC 19,290 40,957
    65339F101 NEXTERA ENERGY INC 13,890 24,788
    756255204 RECKITT BENCKISER SP    
    718172109 PHILIP MORRIS INTL 11,846 24,815
    00773T101 ADVANSIX INC 165 293
    446150104 HUNTINGTON BANCSHARE    
    771195104 ROCHE HOLDINGS LTD S 43,276 50,123
    045327103 ASPEN TECHNOLOGY INC 11,390 43,871
    053484101 AVALONBAY CMNTYS INC 18,124 21,334
    217204106 COPART INC COM 14,558 59,643
    686330101 ORIX CORP SPONS A D    
    30231G102 EXXON MOBIL CORP 59,668 60,921
    91324P102 UNITED HEALTH GROUP 25,322 51,730
    91704F104 URBAN EDGE PROPERTIE 1,979 2,288
    30040W108 EVERSOURCE ENERGY 13,995 19,016
    000360206 AAON INC 14,638 32,968
    928563402 VMWARE INC CL A 15,416 28,091
    456463108 INDUSTRIAS BACHOCO S 34,677 36,736
    966084204 WHITESTONE REIT B    
    95040Q104 WELLTOWER INC 16,499 21,524
    629445206 NVE CORP 20,155 28,479
    H1467J104 CHUBB LTD 18,393 51,552
    609839105 MONOLITHIC POWER SYS 16,595 22,268
    007924103 AEGON N V NY REG SHR 19,069 15,127
    G50871105 JAZZ PHARMACEUTICALS 18,485 14,684
    26078J100 DOWDUPONT INC    
    253868103 DIGITAL REALTY TRUST 18,529 20,260
    902494103 TYSON FOODS INC CL A    
    03820C105 APPLIED INDL TECHNOL 26,123 21,474
    670100205 NOVO NORDISK AS A D 40,517 44,048
    256163106 DOCUSIGN INC 37,116 34,051
    00846U101 AGILENT TECHNOLOGIES 18,437 21,804
    122017106 BURLINGTON STORES IN 17,942 20,588
    767204100 RIO TINTO PLC A D R 18,737 21,009
    G47791101 INGERSOLL RAND PLC 18,673 25,967
    23304Y100 DBS GROUP HLDGS LTD 18,293 17,738
    55616P104 MACYS INC 37,084 21,009
    11135F101 BROADCOM INC 18,491 20,438
    226718104 CRITEO SA SPON A D R 37,280 27,364
    001317205 AIA GROUP LTD ADR    
    70432V102 PAYCOM SOFTWARE INC 22,568 46,931
    067806109 BARNES GROUP INC    
    513272104 LAMB WESTON HOLDING 18,511 17,361
    000375204 ABB LTD A D R    
    693656100 PVH CORP 18,349 11,357
    87612E106 TARGET CORP 30,101 34,384
    05277E104 AUTO TRADER GROUP UN 26,693 30,661
    126132109 CNOOC LTD A D R    
    60786M105 MOELIS CO 18,309 10,555
    071813109 BAXTER INTERNATIONAL 52,312 55,446
    487836108 KELLOGG CO    
    76657Y101 RIGHTMOVE PLC UNSP A 37,487 35,286
    20825C104 CONOCOPHILLIPS 63,694 62,159
    447011107 HUNTSMAN CORP 45,416 37,364
    002824100 ABBOTT LABORATORIES    
    881624209 TEVA PHARMACEUTICAL    
    04623U102 ASTELLAS PHARMA INC 18,662 16,524
    73278L105 POOL CORPORATION 18,412 22,920
    29446M102 EQUINOR ASA SPON ADR    
    682189105 ON SEMICONDUCTOR COR    
    35138V102 FOX FACTORY HOLDING 28,938 51,569
    231021106 CUMMINS INC 29,930 37,523
    749660106 RPC ENERGY SVCS INC    
    22160K105 COSTCO WHSL CORP 37,218 41,753
    G0176J109 ALLEGION PLC    
    06738E204 BARCLAYS PLC A D R 18,548 18,835
    023608102 AMEREN CORP 18,689 18,252
    22052L104 CORTEVA INC 5,018 5,855
    78467J100 SS&C TECHNOLOGIES HO 18,300 18,262
    20441A102 CIA SANEAMENTO BASIC 40,702 41,488
    40416M105 HD SUPPLY HOLDINGS I 18,778 19,052
    482480100 KLA TENCOR CORPORATI 18,948 19,503
    147528103 CASEYS GEN STORES IN 29,340 29,638
    N72482123 QIAGEN N V 47,623 47,565
    34959E109 FORTINET INC 22,615 23,049
    15189T107 CENTERPOINT ENERGY I 18,544 17,865
    86562M209 SUMITOMO MITSUI FINL 72,352 72,909
    12504L109 CBRE GROUP INC 26,027 26,266
    12626K203 CRH PLC ADR 18,718 18,962
    29274F104 ENERSIS SA SPONSORED 18,810 19,381
    92220P105 VARIAN MED SYS INC C 25,961 26,001
    705015105 PEARSON P L C A D R 27,585 27,506
    036752103 ANTHEM INC 25,481 25,117
    09239B109 BLACKLINE INC 20,247 20,387
    74758T303 QUALYS INC 18,440 18,461
    05577E101 B T GROUP P L C A D 18,876 18,836
    244199105 DEERE CO. 18,655 18,560
    759509102 RELIANCE STEEL ALUMI 30,842 32,549
    404280406 HSBC HOLDINGS PLC SP 32,433 32,891
    874054109 TAKE-TWO INTERACTIVE 18,559 18,619
    989207105 ZEBRA TECHNOLOGIES C 53,005 56,143
    983919101 XILINX INC 32,753 34,668
    871503108 SYMANTEC CORP 29,245 30,333
    46187W107 INVITATION HOMES INC 18,822 18,444
    29977A105 EVERCORE PARTNERS IN 28,176 28,608
    33829M101 FIVE BELOW 18,042 18,003
    26614N102 DUPONT DE NEMOURS IN 13,831 14,864
    088606108 B H P BILLITON LIMIT 30,565 30,973
    05338G106 AVALARA INC 18,489 19,133
    36467J108 GAMING LEISURE PROP 18,528 18,282
    459200101 INTERNATIONAL BUSINE 22,476 22,340
    579780206 MCCORMICK CO NON VTG 18,512 18,756
    92939U106 WEC ENERGY GROUP INC 18,680 18,258
    03748R754 APARTMENT INVT MGMT 19,972 23,105
    606822104 MITSUBISHI UFJ FINL 25,493 25,655
    98419M100 XYLEM INC 19,681 20,074
    366505105 GARRETT MOTION INC 346 476
    92937A102 WPP PLC SPONSORED A 28,211 28,687
    260557103 DOW INC 9,063 9,763
    743315103 PROGRESSIVE CORP 37,425 37,487
    871607107 SYNOPSYS INC 18,373 18,789
    01973R101 ALLISON TRANSMISSION 34,147 34,484
    448579102 HYATT HOTELS CORP - 18,423 19,033
    29786A106 ETSY INC 18,125 17,920
    G25839104 COCA COLA EUROREAN P 75,789 75,089
    G0751N103 ATLANTICA YIELD PLC 18,617 18,045
    313747206 FEDERAL RLTY INVT TR 18,758 18,155

    TY 2018 OtherDecreasesSchedule
    Name:
    CHARLES A GUNDELACH MEMORIAL FUND
    EIN:
    43-6395177
    Description Amount
    ROUNDING ADJUSTMENT 24


    TY 2018 OtherExpensesSchedule
    Name:
    CHARLES A GUNDELACH MEMORIAL FUND
    EIN:
    43-6395177
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADR FEES 999 999   0


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    CHARLES A GUNDELACH MEMORIAL FUND
    EIN:
    43-6395177
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 1,499 1,499    


    TY 2018 TaxesSchedule
    Name:
    CHARLES A GUNDELACH MEMORIAL FUND
    EIN:
    43-6395177
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 3,559 1,846   0
    FEDERAL TAX PAYMENT - PRIOR YE 6,670 0   0
    FEDERAL ESTIMATES - PRINCIPAL 9,452 0   0