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 01-01-2018 , and ending 12-31-2018
Name of foundation
THE BRUNING FOUNDATION
C/O CHRISTIAN B SILGE
Number and street (or P.O. box number if mail is not delivered to street address)21 N RIDGE ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LAKE FOREST, IL60045
A Employer identification number

36-6068626
B Telephone number (see instructions)

(847) 736-7451
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$17,657,822J 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... 382,918 382,918  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 188,239
b Gross sales price for all assets on line 6a 7,053,196
7 Capital gain net income (from Part IV, line 2)... 188,239
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment -49,669 -54,786  
12 Total. Add lines 1 through 11........ 521,488 516,371  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 36,165 36,165   9,041
c Other professional fees (attach schedule).... Click to see attachment 162,660 162,660    
17 Interest............... 13 13    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 61,069 11,069    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 24,913 21,899   18,885
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 23 23   23
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 284,843 231,829   27,949
25 Contributions, gifts, grants paid....... 986,100 986,100
26 Total expenses and disbursements. Add lines 24 and 25 1,270,943 231,829   1,014,049
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -749,455
b Net investment income (if negative, enter -0-) 284,542
c Adjusted net income (if negative, enter -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......... 506,796 155,932 155,932
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,233,801 Click to see attachment881,761 879,720
b Investments—corporate stock (attach schedule)....... 12,696,627 Click to see attachment13,310,551 14,279,700
c Investments—corporate bonds (attach schedule)....... 3,016,794 Click to see attachment2,364,827 2,338,720
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment12,258 Click to see attachment3,750 Click to see attachment3,750
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 17,466,276 16,716,821 17,657,822
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........ 5,833,892 5,833,892
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 11,632,384 10,882,929
30 Total net assets or fund balances (see instructions)..... 17,466,276 16,716,821
31 Total liabilities and net assets/fund balances (see instructions). 17,466,276 16,716,821
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
17,466,276
2
Enter amount from Part I, line 27a .....................
2
-749,455
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
16,716,821
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
16,716,821
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 NAT'L FINL SERVICES (5967) P    
b NAT'L FINL SERVICES (7777) P    
c NAT'L FINL SERVICES (5967) P    
d NAT'L FINL SERVICES (8373) P    
e NAT'L FINL SERVICES (7332) P 2011-01-01 2018-12-31
NAT'L FINL SERVICES (8373) P    
NAT'L FINL SERVICES (7768) P    
NAT'L FINL SERVICES (9881) P    
NAT'L FINL SERVICES (7768) P    
NAT'L FINL SERVICES (1590) P    
NAT'L FINL SERVICES (7770) P    
NAT'L FINL SERVICES (1590) P    
NAT'L FINL SERVICES (7770) P    
SECURITIES LITIGATION SETTLEMENT P 2014-01-01 2018-12-31
NAT'L FINL SERVICES (7771) P    
NAT'L FINL SERVICES (7771) P    
NAT'L FINL SERVICES (7772) P    
NAT'L FINL SERVICES (7772) P    
NAT'L FINL SERVICES (7773) P    
NAT'L FINL SERVICES (7773) P    
NAT'L FINL SERVICES (7775) P    
NAT'L FINL SERVICES (7777) 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 81,430   94,462 -13,032
b 398,463   297,410 101,053
c 176,815   217,401 -40,586
d 34,112   33,417 695
e 447     447
90,066   43,341 46,725
2,723   2,494 229
400,000   339,888 60,112
499,783   504,893 -5,110
455   494 -39
522,748   505,663 17,085
19,855   20,559 -704
521,620   436,018 85,602
1,950     1,950
284,182   301,151 -16,969
527,312   549,795 -22,483
825,796   931,744 -105,948
345,750   292,236 53,514
195,015   195,176 -161
1,337,549   1,349,315 -11,766
246,990   205,168 41,822
540,135   544,332 -4,197
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       -13,032
b       101,053
c       -40,586
d       695
e       447
      46,725
      229
      60,112
      -5,110
      -39
      17,085
      -704
      85,602
      1,950
      -16,969
      -22,483
      -105,948
      53,514
      -161
      -11,766
      41,822
      -4,197
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 2 188,239
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 -122,337
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 905,749 19,614,159 0.046178
2016 932,890 18,100,314 0.051540
2015 949,100 18,773,788 0.050555
2014 855,500 19,281,601 0.044369
2013 820,400 18,116,086 0.045286
2
Total of line 1, column (d) .....................
2
0.237928
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
0.047586
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
19,397,365
5
Multiply line 4 by line 3......................
5
923,043
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
2,845
7
Add lines 5 and 6........................
7
925,888
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,014,049
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 2,845
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  
3 Add lines 1 and 2........................... 3 2,845
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 2,845
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 36,447
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 36,447
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 33,602
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet33,602 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletIL
    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 ofbulletCHRISTIAN B SILGE Telephone no.bullet (847) 736-7451

    Located atbullet445 E ILLINOIS STREET UNIT 4202CHICAGOIL ZIP+4bullet60611
    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
     
     
    ........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
     
     
    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
    CHARLES BRUNING III PRESIDENT/DI
    000.00     		0 0 0
    11401 OSPREY LANDING
    FT MYERS,FL33908
    SUSAN B WULFF V.P./DIRECTO
    000.00     		0 0 0
    1429 RAVENOAKS TRAIL
    OREGON,WI53575
    CHRISTIAN B SILGE TREASURER/DI
    000.00     		0 0 0
    445 E ILLINOIS STREET UNIT 4202
    CHICAGO,IL60611
    JEANNE B JOSEPH DIRECTOR
    000.00     		0 0 0
    28 REST LAKE ROAD
    MANITOWISH WATERS,WI54545
    KIMBERLY B DONAHUE DIRECTOR
    000.00     		0 0 0
    10673 QUAIL RIDGE DRIVE
    PONTE VEDRA,FL32081
    TRACY S BRUNING DIRECTOR
    000.00     		0 0 0
    4809 LAUREL LANE
    FT MYERS,FL33908
    EDWIN C BRUNING DIRECTOR
    000.00     		0 0 0
    8255 SAN FERNANDO WAY
    DALLAS,TX75218
    KATHLEEN J BRUNING SECRETARY
    000.00     		0 0 0
    11401 OSPREY LANDING
    FT MYERS,FL33908
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (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
    NATIONAL FINANCIAL SERVICES LLC INVESTMENT 162,660
    499 WASHINGTON BOULEVARD
    JERSEY CITY,NJ07310
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (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
    19,238,943
    b
    Average of monthly cash balances.......................
    1b
    453,813
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    19,692,756
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    19,692,756
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    295,391
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    19,397,365
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    969,868
    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
    969,868
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    2,845
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,845
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    967,023
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    967,023
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    967,023
    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
    1,014,049
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,014,049
    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
    2,845
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,011,204
    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 7 967,023
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 916,480
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,014,049
    a Applied to 2017, but not more than line 2a 916,480
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 97,569
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2018.    
    (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  
    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 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		869,454
    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 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    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).)
    HERBERT F BRUNING
    PAUL J BRUNING
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (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
    AMHERST COLLEGE
    PO BOX 5000
    AMHERST,MA010025000     		  PC:509(A)(1) EDUCATIONAL 3,000
    ARIZONA STATE UNIVERSITY
    300 E UNIVERSITY DRIVE
    TEMPE,AZ85281     		  PC:509(A)(1) EDUCATIONAL 10,000
    ART IMPACT PROJECT
    794 OAKWOOD AVEUNE
    LAKE FOREST,IL60045     		  PC:509(A)(1) CHARITABLE 3,000
    AVON OLD FARMS
    500 OLD FARMS ROAD
    AVON,CT06001     		  PC:509(A)(1) CHARITABLE 9,000
    BARRINGTON AREA COMMUNITY FOUND
    18-5 E DUNDEE ROAD
    BARRINGTON,IL60010     		  PC:509(A)(1) CHARITABLE 4,000
    BE THE MATCH
    500 N 5TH STREET
    MINNEAPOLIS,MN554011206     		  PC:509(A)(1) MEDICAL 5,000
    BEEF 4 HUNGER
    PO BOX 464
    LAKE FOREST,IL60045     		  PC:509(A)(1) CHARITABLE 21,500
    BELOIT COLLEGE
    OFFICE OF DEVELOPMENT
    BELOIT,WI53511     		  PC:509(A)(1) EDUCATIONAL 50,000
    BLESSINGS IN A BACKPACK
    10680 QUAIL RIDGE DRIVE
    PONTE VEDRA,FL32081     		  PC:509(A)(1) CHARITABLE 3,000
    BRIDGING BIONICS FOUNDATION
    PO BOX 3767
    BASALT,CO81621     		  PC:509(A)(1) CHARITABLE 5,000
    CAMP COURAGEOUS
    12007 190TH STREET
    MONTICELLO,IA52310     		  PC:509(A)(1) CHARITABLE 2,000
    CAMP JORN
    13591 ZENNER LANE
    MANITOWISH WATERS,WI54545     		  PC:509(A)(1) CHARITABLE 5,000
    CAN-DO CANINES
    9440 SCIENCE CENTER DRIVE
    NEW HOPE,MN55428     		  PC:509(A)(1) CHARITABLE 16,000
    CARMEL HIGH SCHOOL
    1 CARMEL PARKWAY
    MUNDELEIN,IL60060     		  PC:509(A)(1) EDUCATIONAL 7,000
    CHALLENGE ASPEN
    PO BOX 6639
    SNOWMASS VILLAGE,CO81615     		  PC:509(A)(1) CHARITABLE 4,000
    CHAPEL BY THE SEA
    11580 CHAPIN LANE
    CAPTIVA,FL33924     		  PC:509(A)(1) RELIGIOUS 10,000
    COLLEGE OF THE HOLY CROSS
    1 COLLEGE STREET
    WORCESTER,MA01610     		  PC:509(A)(1) EDUCATIONAL 5,000
    COLORADO ANIMAL RESCUE
    2801 COUNTY ROAD 114
    GLENWOOD SPRINGS,CO81601     		  PC:509(A)(1) CHARITABLE 2,500
    COLORADO HEALTH NETWORK INC
    6260 E COLFAX AVE
    DENVER,CO80220     		  PC:509(A)(1) CHARITABLE 1,000
    COLORADO MOUNTAIN CLUB FOUNDATION
    710 10TH ST STE 200
    GOLDEN,CO80401     		  PC:509(A)(1) CHARITABLE 2,000
    COMMUNITY AND CONTINUING EDUCATION
    8401 WESTFIELD BLVD
    INDIANAPOLIS,IN46240     		  PC:509(A)(1) CHARITABLE 3,500
    CORNELL UNIVERSITY
    130 E SENECA STREET
    SUITE 400
    ITHACA,NY14850     		  PC:509(A)(1) EDUCATIONAL 1,000
    DAIS
    2102 FORDEM AVENUE
    MADISON,WI53704     		  PC:509(A)(1) CHARITABLE 3,000
    DALLAS ARBORETUM AND BOTANICAL GARD
    8525 GARLAND ROAD
    DALLAS,TX75218     		  PC:509(A)(1) CHARITABLE 5,000
    DALLAS THEATER CENTER
    2400 FLORA STREET
    DALLAS,TX75201     		  PC:509(A)(1) CHARITABLE 3,000
    DAN'S HANDS EDUCATION FOUNDATION
    357 SOUTH MILL VIEW WAY
    PONTE VEDRA BEACH,FL32082     		  PC:509(A)(1) CHARITABLE 2,500
    DICKINSON COLLEGE
    28 N COLLEGE STREET
    CARLISLE,PA17013     		  PC:509(A)(1) EDUCATIONAL 3,000
    DR KATE HOSPICE
    PO BOX 470
    WOODRUFF,WI54568     		  PC:509(A)(1) CHARITABLE 2,000
    DUCKS UNLIMITED
    ONE WATERFOWL WAY
    MEMPHIS,TN38120     		  PC:509(A)(1) CHARITABLE 50,000
    DUNN COUNTY HUMANE SOCIETY
    302 BRICKYARD ROAD
    MENOMONIE,WI54751     		  PC:509(A)(1) CHARITABLE 1,000
    FEED MY STARVING CHILDREN
    401 93RD AVENUE NW
    COON RAPIDS,MN55433     		  PC:509(A)(1) CHARITABLE 11,500
    FRIENDS OF THE GTM RESERVE
    450 GUANA RIVER ROAD
    PONTE VEDRA BEACH,FL32082     		  PC:509(A)(1) CHARITABLE 15,000
    GARRETT EVANGELICAL HEOLOGICAL SEMI
    2121 SHERIDAN ROAD
    EVANSTON,IL602012926     		  PC:509(A)(1) CHARITABLE 5,000
    GLADIOLUS FOOD PANTRY
    10511 GLADIOLUS DRIVE
    FT MYERS,FL33908     		  PC:509(A)(1) CHARITABLE 15,000
    GOLISANO CHILDRENS HOSPITAL
    16451 S HEALTHPARK COMMON
    SUITE 200
    FORT MEYERS,FL33908     		  PC:509(A)(1) CHARITABLE 43,000
    HENRY PREDOLIN SCHOOL OF NURSING
    1000 EDGEWOOD COLLEGE DR
    MADISON,WI53711     		  PC:509(A)(1) CHARITABLE 15,000
    HOPE 2 OTHERS
    913 DAVIS ST
    SUN PRAIRIE,WI53590     		  PC:509(A)(1) CHARITABLE 5,000
    HOUSE OF GOOD SHEPHERD
    PO BOX 88328
    CHICAGO,IL606913328     		  PC:509(A)(1) CHARITABLE 2,500
    INFANT WELFARE SOCIETY OF MT PROSP
    302 S LANCASTER
    MOUNT PROSPECT,IL60056     		  PC:509(A)(1) CHARITABLE 2,000
    JACKSONVILLE UNIVERSITY
    2800 UNIVERSITY BLVD N
    JACKSONVILLE,FL32211     		  PC:509(A)(1) EDUCATIONAL 22,000
    K9'S FOR WARRIORS
    114 CAMP K9 ROAD
    PONTE VEDRA,FL32081     		  PC:509(A)(1) CHARITABLE 12,500
    KENTUCKY COLONEL
    1717 ALLIANT AVENUE
    SUITE 14
    LOUISVILLE,KY40299     		  PC:509(A)(1) CHARITABLE 5,000
    LOVE FUTBOL INC
    5105 CHEVY CHASE PARKWAY
    WASHINGTON,DC20008     		  PC:509(A)(1) CHARITABLE 3,000
    LYMPHOMA RESEARCH FOUNDATION
    115 BROADWAY SUITE 1301
    NEW YORK,NY10006     		  PC:509(A)(1) MEDICAL 5,000
    M CASA RESOURCE CENTER
    345 SOUTH GROVE
    DENVER,CO80219     		  PC:509(A)(1) CHARITABLE 3,500
    MATTHEW 25 MINISTRIES
    11060 KENWOOD RD
    CINCINNATI,OH45242     		  PC:509(A)(1) CHARITABLE 50,000
    MAX MCGRAW WILDLIFE FOUNDATION
    14N322 ILLINOIS 25
    EAST DUNDEE,IL60118     		  PC:509(A)(1) CHARITABLE 31,600
    MISERACORDIA HOME
    6300 N RIDGE AV
    CHICAGO,IL60660     		  PC:509(A)(1) CHARITABLE 3,000
    NASHVILLE BIBLICAL STUDIES
    1716 BLUELAKE COURT
    FRANKLIN,TN37064     		  PC:509(A)(1) RELIGIOUS 6,000
    NEW JERSEY SEEDS INC
    494 BROAD ST
    STE 105
    NEWARD,NJ07102     		  PC:509(A)(1) CHARITABLE 1,000
    NORTH LAKELAND DISCOVERY CENTER
    PO BOX 237
    MANITOWISH WATERS,WI54545     		  PC:509(A)(1) CHARITABLE 82,000
    NORTH TEXAS FOOD BANK
    1010 S PERL EXPRESSWAY
    DALLAS,TX75201     		  PC:509(A)(1) CHARITABLE 5,000
    NORTHSHORE INTEGRATIVE MEDICINE
    PHILANTHROPY DEPT
    1033 UNIVERSITY PLACE 450
    EVANSTON,IL60201     		  PC:509(A)(1) CHARITABLE 5,000
    NORTHWEST COMMUNITY HEALTHCARE
    3060 W SALT CREEK LANE
    ARLINGTON HEIGHTS,IL60005     		  PC:509(A)(1) CHARITABLE 50,000
    NPH USA
    134 N LA SALLE STREET
    CHICAGO,IL606021036     		  PC:509(A)(1) CHARITABLE 5,000
    NTPGA JR GOLD FOUNDATION
    15150 PRESTON RD
    STE 250
    DALLAS,TX75248     		  PC:509(A)(1) CHARITABLE 5,000
    OPERATION FREEDOM INC
    133 INDIANA STREET
    PARK FOREST,IL60466     		  PC:509(A)(1) CHARITABLE 5,000
    OPPORTUNITY KNOCKS
    8020 MADISON STREET
    RIVER FOREST,IL60305     		  PC:509(A)(1) CHARITABLE 3,000
    OREGON PUBLIC LIBRARY
    256 BROOK STREET
    OREGON,WI53575     		  PC:509(A)(1) EDUCATIONAL 2,000
    OREGON SCHOOL DISTRICT
    123 E GROVE ST
    OREGON,WI53575     		  PC:509(A)(1) EDUCATIONAL 10,000
    OVERALL CREEK ELEMENTARY
    429 OTTER TRAIL
    MURFREESBORO,TN37128     		  PC:509(A)(1) EDUCATIONAL 5,000
    OVERTURE CENTER FOR THE ARTS
    201 STATE STREET
    MADISON,WI53703     		  PC:509(A)(1) EDUCATIONAL 10,000
    PATRIOTS 4 INC
    10500 HUME ROAD
    MARSHALL,VA20115     		  PC:509(A)(1) CHARITABLE 5,000
    PEACE DRAGON
    104 KENNET ROAD
    OLD HICKORY,TN37138     		  PC:509(A)(1) CHARITABLE 20,000
    PKT ENTERPRISES
    1500 FILLMORE ST NE
    SUITE 150
    MINNEAPOLIS,MN55413     		  PC:509(A)(1) CHARITABLE 4,000
    PONTE VEDRA YMCA
    170 LANDRUM LANE
    PONTE VEDRA,FL32082     		  PC:509(A)(1) CHARITABLE 15,000
    RAVINIA ANNUAL FUND
    412 SHERIDAN ROAD
    HIGHLAND PARK,IL60035     		  PC:509(A)(1) CHARITABLE 30,000
    READING POWER
    736 N WESTERN AVENUE
    LAKE FOREST,IL60045     		  PC:509(A)(1) CHARITABLE 2,000
    REPS
    PO BOX 773324
    STEAMBOAT SPRINGS,CO80477     		  PC:509(A)(1) CHARITABLE 7,000
    RISE INC
    8406 SUNSET ROAD NE
    SPRING LAKE PARK,MN55432     		  PC:509(A)(1) CHARITABLE 4,000
    SAINT PAUL FIRE DEPARTMENT STATION
    645 RANDOLPH AVENUE
    SAINT PAUL,MN55102     		  PC:509(A)(1) CHARITABLE 4,000
    SANIBEL CAPTIVA CONSERVATION
    3333 SANIBEL CAPTIVA ROAD
    SANIBEL,FL33957     		  PC:509(A)(1) CHARITABLE 50,000
    SCHOLL COMMUNITY IMPACT GROUP
    6003 OLD COUNTY W
    WINCHESTER,WI54557     		  PC:509(A)(1) CHARITABLE 7,000
    SEAMARK RANCH
    1 SAN JOSE PLACE
    SUITE 31
    JACKSONVILLE,FL32257     		  PC:509(A)(1) CHARITABLE 25,000
    SECOND HARVEST HEARTLAND
    1140 GERVAIS AVE
    SAINT PAUL,MN55109     		  PC:509(A)(1) CHARITABLE 5,000
    ST THOMAS RUTHERFORD FOUNDATION
    1700 MEDICAL CENTER PKWY
    MURFREESBORO,TN37129     		  PC:509(A)(1) CHARITABLE 20,000
    STOBER ELEMENTARY SCHOOL PTA
    2300 URBAN STREET
    LAKEWOOD,CO80215     		  PC:509(A)(1) EDUCATIONAL 2,000
    TEAM RUBICON
    1509 16TH ST NW
    WASHINGTON,DC20036     		  PC:509(A)(1) CHARITABLE 5,000
    THE CENTER
    1301 E COLFAX AVE
    DENVER,CO80218     		  PC:509(A)(1) CHARITABLE 2,000
    THE CORAL REEF ALLIANCE
    1330 BROADWAY
    SUITE 1602
    OAKLAND,CA94612     		  PC:509(A)(1) CHARITABLE 2,500
    THE FIRST TEE OF GREATER DALLAS
    16200 ADDISON ROAD
    ADDISON,TX75001     		  PC:509(A)(1) CHARITABLE 3,000
    THE OHIO STATE UNIV-WILGUS LAB
    101 FISHER
    1480 W LANE AVENUE
    COLUMBUS,OH43221     		  PC:509(A)(1) EDUCATIONAL 5,000
    TICE FIRE DEPARTMENT
    9351 WORKMEN WAY
    FORT MYERS,FL33905     		  PC:509(A)(1) CHARITABLE 2,000
    TKE EDUCATIONAL FOUNDATION
    7439 WOODLAND DRIVE
    INDIANAPOLIS,IN46278     		  PC:509(A)(1) CHARITABLE 1,000
    TWIN CITIES PET RESCUE
    PO BOX 28245
    ST PAUL,MN55128     		  PC:509(A)(1) CHARITABLE 7,000
    UNITED WAY - LEE COUNTY
    7273 CONCOURSE DRIVE
    FT MYERS,FL339082644     		  PC:509(A)(1) CHARITABLE 5,000
    UNIVERSITY OF WISCONSIN FOUNDATION
    1848 UNIVERSITY AVENUE
    MADISON,WI537264090     		  PC:509(A)(1) EDUCATIONAL 5,000
    WIND WALKERS THERAPEUTIC RIDING
    1030 CR 102 PO BOX 504
    CARBONDALE,CO81623     		  PC:509(A)(1) CHARITABLE 19,000
    WISCONSIN BIBLE FELLOWSHIP
    720 E KEARNEY STREET
    SPRINGFIELD,MO65803     		  PC:509(A)(1) RELIGIOUS 12,000
    WISCONSIN REGIONAL ARTIST ASSOC
    1867 RIARWOOD LN
    FITCHBURG,WI53575     		  PC:509(A)(1) CHARITABLE 6,000
    WOODLANDS ACADEMY
    760 E WESTLEIGH ROAD
    LAKE FOREST,IL60045     		  PC:509(A)(1) EDUCATIONAL 26,000
    Total .................................bullet 3a 986,100
    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....     14 382,918  
    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 ............     		    18 188,239  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aLOGAN STONE     		    18 569  
    bFIXED INCOME OPPORT QP     18 -55,355  
    cFIXED INCOME OPPORTUNITY 525990 5,117 18    
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 5,117 516,371  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    521,488
    (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 AccountingFeesSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BERTRAND P. MCANDREW & ASSOCIATE 36,165 36,165   9,041
    ACCOUNTING AND TAX FEES        

    TY 2018 ContractorCompensationExpln
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Contractor Explanation
    NATIONAL FINANCIAL SERVICES LLC INVESTMENT FEES

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SEE ATT'D SCHEDULE 2,364,827 2,338,720

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SEE ATT'D SCHEDULE 13,310,551 14,279,700

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    US Government Securities - End of Year Book Value:

    881,761
    US Government Securities - End of Year Fair Market Value:

    879,720
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2018 OtherAssetsSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INTEREST & DIVIDEND RECEIVEABLE 12,258 3,750 3,750


    TY 2018 OtherExpensesSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    OFFICE EXPENSES 23 23   23


    TY 2018 OtherIncomeSchedule2
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    LOGAN STONE 569 569  
    FIXED INCOME OPPORT QP -55,355 -55,355  
    FIXED INCOME OPPORTUNITY 5,117    


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVEST FEES NAT'L FINL (5962) 6,180 6,180    
    INVEST FEES NAT'L FINL (5967) 17,626 17,626    
    INVEST FEES NAT'L FINL (7768) 3,871 3,871    
    INVEST FEES NAT'L FINL (7770) 3,553 3,553    
    INVEST FEES NAT'L FINL (7771) 6,785 6,785    
    INVEST FEES NAT'L FINL (7772) 20,607 20,607    
    INVEST FEES NAT'L FINL (7773) 28,540 28,540    
    INVEST FEES NAT'L FINL (7775) 23,011 23,011    
    INVEST FEES NAT'L FINL (7777) 12,614 12,614    
    INVEST FEES NAT'L FINL (8373) 26,699 26,699    
    INVEST FEES NAT'L FINL (9881) 3,498 3,498    
    INVEST FEES NAT'L FINL (1590 1,248 1,248    
    INVEST FEES NAT'L FINL (5149) 3,938 3,938    
    INVEST FEES NAT'L FINL (1248) 4,490 4,490    


    TY 2018 TaxesSchedule
    Name:
    THE BRUNING FOUNDATION
     
    C/O CHRISTIAN B SILGE
    EIN:
    36-6068626
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES NAT'L FINL (5967) 405 405    
    FOREIGN TAXES NAT'L FINL (7768) 2,808 2,808    
    FOREIGN TAXES NAT'L FINL (7770) 1,379 1,379    
    FOREIGN TAXES NAT'L FINL (7775) 253 253    
    FOREIGN TAXES NAT'L FINL (7777) 2,725 2,725    
    FOREIGN TAXES NAT'L FINL (8373) 3,499 3,499    
    ESTIMATED TAXES 50,000