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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
P FALK TRUST 002738
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1700
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
IOWA CITY, IA52244
A Employer identification number

42-6091303
B Telephone number (see instructions)

(319) 356-5933
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$1,546,494J 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... 33,229 31,850  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 42,618
b Gross sales price for all assets on line 6a 228,090
7 Capital gain net income (from Part IV, line 2)... 42,618
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........ 75,847 74,468  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 11,874 8,906   2,969
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 1,178 590 0 590
b Accounting fees (attach schedule)....... Click to see attachment 1,385 693 0 693
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,914 116   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 3,974 3,974    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 21,325 14,279 0 4,252
25 Contributions, gifts, grants paid....... 69,800 69,800
26 Total expenses and disbursements. Add lines 24 and 25 91,125 14,279 0 74,052
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -15,278
b Net investment income (if negative, enter -0-) 60,189
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 41,753 43,290 43,290
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)....... 353,368 Click to see attachment338,393 731,435
c Investments—corporate bonds (attach schedule)....... 527,581 Click to see attachment523,300 531,019
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 191,497 Click to see attachment194,653 240,750
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) 1,114,199 1,099,636 1,546,494
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 1,114,199 1,099,636
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,114,199 1,099,636
30 Total liabilities and net assets/fund balances (see instructions). 1,114,199 1,099,636
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,114,199
2
Enter amount from Part I, line 27a .....................
2
-15,278
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,128
4
Add lines 1, 2, and 3 ..........................
4
1,101,049
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1,413
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,099,636
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 50. DOW, INC.   2018-10-19 2020-04-07
b 21. DOLLAR GENERAL CORP NEW   2016-03-23 2020-04-15
c 83. EXPEDIA INC. COM   2018-03-09 2020-04-15
d 11. AMERICAN TOWER CORP NEW COM   2015-04-10 2020-04-30
e 12. APPLE INC COM   2011-10-06 2020-04-30
62. LINCOLN NATL CORP IND COM   2015-01-15 2020-05-08
135. LINCOLN NATL CORP IND COM   2015-02-12 2020-05-08
81. WELLS FARGO & CO NEW COM   2005-04-18 2020-05-08
22. WELLS FARGO & CO NEW COM   2005-10-26 2020-05-08
128. WELLS FARGO & CO NEW COM   2007-02-08 2020-05-08
866.309 EATON VANCE FLOATING RATE ADVANTAGE FUND CL I   2013-02-22 2020-06-26
284.404 EATON VANCE FLOATING RATE ADVANTAGE FUND CL I   2017-10-18 2020-06-26
127.737 EATON VANCE FLOATING RATE ADVANTAGE FUND CL I   2018-01-30 2020-06-26
481.928 LORD ABBETT SHORT DURATION INCOME FUND CLASS F   2019-07-17 2020-07-07
1300.954 PIMCO INCOME FUND INSTITUTIONAL CLASS   2013-09-26 2020-07-07
342.64 TCW EMERGING MARKET INCOME FUND CLASS I   2019-07-17 2020-07-07
2775.208 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2012-02-08 2020-07-07
4. ALPHABET INC - CL A   2012-06-29 2020-07-22
19. APPLE INC COM   2011-10-06 2020-07-22
9. BECTON DICKINSON AND CO   2015-06-02 2020-07-22
6. BLACKROCK INC COMMON   2017-04-12 2020-07-22
26. DOLLAR GENERAL CORP NEW   2016-03-23 2020-07-22
38. DOMINION ENERGY, INC. COM   2013-10-11 2020-07-22
10. FACEBOOK INC CL A   2016-03-23 2020-07-22
27. FED EX CORP   2019-05-22 2020-07-22
10. HOME DEPOT INC COM   2016-11-17 2020-07-22
33. ILLINOIS TOOLWORKS COM   2006-09-13 2020-07-22
14. MICROSOFT CORP COM   2016-06-30 2020-07-22
13. O REILLY AUTOMOTIVE INC NEW COM   2011-05-04 2020-07-22
13. SALESFORCE COM INC COM   2017-05-19 2020-07-22
145. BP AMOCO P L C SPONSORED ADR   2019-03-20 2020-07-29
7. NETFLIX INC COM   2018-11-26 2020-07-29
26. PRUDENTIAL FINL INC COM   2014-02-11 2020-09-17
35. PRUDENTIAL FINL INC COM   2014-02-21 2020-09-17
35. PRUDENTIAL FINL INC COM   2014-04-16 2020-09-17
28. APPLE INC COM   2011-10-06 2020-09-28
10. SALESFORCE COM INC COM   2017-05-19 2020-09-28
8. FED EX CORP   2019-05-22 2020-10-21
13. VONTIER CORP   2011-07-28 2020-10-26
4. VONTIER CORP   2011-10-24 2020-10-26
14.6 VONTIER CORP   2012-07-12 2020-10-26
35.359 INVESCO OPPENHEIMER DEVELOPING MARKETS CLASS R6   2012-08-10 2020-10-30
15.596 JANUS INVT FD TRITON FD I SHS   2015-07-06 2020-10-30
3117.508 LORD ABBETT SHORT DURATION INCOME FUND CLASS F   2019-07-17 2020-10-30
38.865 MFS INSTL INTL EQUITY FUND   2019-01-24 2020-10-30
14.852 T ROWE PRICE MID-CAP GROWTH FUND CLASS I   2019-09-24 2020-10-30
194.327 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2012-02-08 2020-10-30
181.984 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2012-12-20 2020-10-30
1291.875 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2013-02-22 2020-10-30
224.719 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2014-07-24 2020-10-30
439.185 VANGUARD FIXED INCOME SECS GNMA FD ADMRL   2014-08-11 2020-10-30
38. MONDELEZ INTL INC CL A   2009-04-17 2020-11-09
10. DANAHER CORP DEL COM   2012-07-12 2020-11-17
6. COSTCO WHSL CORP NEW COM   2018-07-16 2020-12-11
20. DANAHER CORP DEL COM   2012-07-12 2020-12-29
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
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 1,691   2,805 -1,114
b 3,680   1,782 1,898
c 5,038   9,209 -4,171
d 2,578   1,055 1,523
e 3,494   655 2,839
2,204   3,146 -942
4,798   7,824 -3,026
2,062   2,423 -361
560   659 -99
3,258   4,559 -1,301
8,498   9,649 -1,151
2,790   3,100 -310
1,253   1,400 -147
2,000   2,029 -29
15,000   16,098 -1,098
2,700   2,892 -192
30,000   30,722 -722
6,219   1,153 5,066
7,366   1,037 6,329
2,449   1,269 1,180
3,482   2,294 1,188
5,047   2,207 2,840
3,034   2,400 634
2,382   1,129 1,253
4,452   4,401 51
2,639   1,280 1,359
6,018   1,449 4,569
2,952   713 2,239
5,848   774 5,074
2,471   1,156 1,315
3,309   6,438 -3,129
3,440   1,818 1,622
1,795   2,182 -387
2,417   2,942 -525
2,417   2,773 -356
3,170   382 2,788
2,464   890 1,574
2,281   1,304 977
383   117 266
118   35 83
430   131 299
1,600   1,141 459
500   395 105
13,000   13,125 -125
1,000   901 99
1,500   1,408 92
2,083   2,151 -68
1,951   2,000 -49
13,849   13,991 -142
2,409   2,400 9
4,708   4,704 4
2,138   567 1,571
2,304   374 1,930
2,242   1,286 956
4,464   748 3,716
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
      6,155
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       -1,114
b       1,898
c       -4,171
d       1,523
e       2,839
      -942
      -3,026
      -361
      -99
      -1,301
      -1,151
      -310
      -147
      -29
      -1,098
      -192
      -722
      5,066
      6,329
      1,180
      1,188
      2,840
      634
      1,253
      51
      1,359
      4,569
      2,239
      5,074
      1,315
      -3,129
      1,622
      -387
      -525
      -356
      2,788
      1,574
      977
      266
      83
      299
      459
      105
      -125
      99
      92
      -68
      -49
      -142
      9
      4
      1,571
      1,930
      956
      3,716
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 42,618
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 837
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 837
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- ..... 5 837
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,888
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,888
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,051
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet840 RefundedBullet 11 211
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletMIDWESTONE BANK Telephone no.bullet (319) 356-5933

    Located atbulletPO BOX 1700IOWA CITYIA ZIP+4bullet522441700
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet2015, 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
    Yes
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    MIDWESTONE BANK TRUSTEE
    4     		11,874    
    BOX 1700
    IOWA CITY,IA52244
    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 (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............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 (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,366,734
    b
    Average of monthly cash balances.......................
    1b
    22,448
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,389,182
    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
    1,389,182
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    20,838
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,368,344
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    68,417
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    68,417
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    837
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    837
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    67,580
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    67,580
    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
    67,580
    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
    74,052
    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
    74,052
    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
    74,052
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 67,580
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 66,780
    b Total for prior years:2018, 20, 20 2,486
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 0
    b From 2016...... 0
    c From 2017...... 0
    d From 2018...... 0
    e From 2019...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 74,052
    a Applied to 2019, but not more than line 2a 66,780
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		2,486
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 4,786
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		62,794
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 0
    c Excess from 2018.... 0
    d Excess from 2019.... 0
    e Excess from 2020.... 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    MAYA M ALTEMEIER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,900
    HANNAH EK BIRT
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    PARKER A ELLER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    RACHEL A HARDER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    JACKSON M HARDIE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    AMARIS L HORNBUCKLE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    STEPHANIE C KROGH
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CAM H LARSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KAYLA F LIMBERG
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MAYZIE METZGER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    LINDSEY J MEYER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY A FISHEL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    LAYKEN J GURWELL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    FRANK K IOLE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY M JOHNSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,900
    TESS KNICKERBOCKER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SYDNEY M LAMONT
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    COLE L MOELLER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ZACHRY M MOUSEL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY M O'BRIEN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    GRACIE K SCHNELL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SARAH E WATSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ABBY J BUCHELE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ALEXIS M REDSHAW
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ALYSSA N RICKE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ANDREW P PROSHUTO
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    AUTUMN E JOHNSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    BETHANY V JUNGE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CAYLA A SINCOX
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ELIZABETH A LARSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ELIZABETH A MCVEY
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ERYNN E MOORE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    JACOB L NORTON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    JOSIE M FISCHELS
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KAIA M JOHANNINGMEIER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KELSEY M KANNENBERG
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KRISTYN R EAVES
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MEGAN E EARLES
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MEGAN T GRIMES
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    RYAN GREENOUGH
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SAMANTHA J BLAIN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SARAH M ALTEMEIR
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,900
    SCOTT M CULPEPPER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    TESSA J KEETON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ALLISYN COGHLAN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ALY HECKER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ANNA FOX
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    AYA HAMANAKA
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    BENJAMIN LAGRANGE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    BROOKE JASPER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,900
    BROOKE WILSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CAITLIN FAIRCHILD
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CARA HEUER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    CARSON STOCKER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CARTER JOSUND
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CARTER WELLS
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    COLETRANE SIPES
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    CONNOR SUTTON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    DAINEN VANGORKOM
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    DALTON NEISHEIM
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    DAVID HEBRINK
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY MILLER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY PETERSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMILY RICHMOND
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    EMMA KELDERMAN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    EMMA VANDELUNE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    ERYKA DICKEY
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    ETHAN ORR
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    GABRIEL LOCKIN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    GRACIE LUCHTENBURG
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    HAILEY THOMAS
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    IELAND FLANAGAN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    JACOB MURPHY
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    JEREMY STRUVE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KELSEY DAUSEL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    KRISTEN DAUSEL
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    LAL ZUALI
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MADELYN NEDERHOFF
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MADISON O'LEARY
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MADISON WERNING
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    MADISYN GEARHART
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    MARY FLAHERTY
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    MEGAN UDEN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    MORGAN GUSTAFSON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    NICHOLAS MUELLER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    RACHEL STRANG
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    RYAN CEYNAR
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SAMUAL STARNES
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,500
    SAMUEL PHILLIPS
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SARA DODGE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SARAH SCHMINKE
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    SIERRA KELMAN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    THOMAS COON
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    TORI SLOAN
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 2,900
    VICTORIA STRONG
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    ZACHARY SPRINGER
    C/O UNIVERSITY OF IOWA
    IOWA CITY,IA52242     		NONE N/A SCHOLARSHIP 400
    Total .................................bullet 3a 69,800
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 33,229  
    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 42,618  
    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)..   75,847  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    75,847
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,385 693   693

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Name of Bond End of Year Book Value End of Year Fair Market Value
    EATON VANCE FLOATING RATE ADVA    
    FEDERATED INSTL TR HI YIELD BD 40,836 40,585
    PIMCO INVEST.GRADE CREDIT BOND 101,095 106,502
    PIMCO INCOME FUND INSTITUTIONA 98,848 97,283
    VANGUARD FIXED INCOME SECS GNM 55,997 58,154
    LORD ABBETT SHORT DURATION INC 95,846 95,846
    PIONEER MULTI-ASSET ULTRA SHOR 11,000 10,712
    TCW EMERGING MARKET INCOME FUN 35,108 35,918
    WESTERN ASSET CORE PLUS BOND 84,570 86,019

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AT&T INC COM 6,199 5,752
    ABBOTT LABS COM 4,011 15,876
    ALLSTATE CORP COM 4,447 16,050
    ALPHABET INC - CL C 5,189 22,774
    ALPHABET INC - CL A    
    AMERICAN TOWER CORP NEW COM 5,949 13,917
    APPLE INC COM 3,526 32,907
    BALL CORP COM 1,213 10,716
    BECTON DICKINSON AND CO 8,788 14,763
    BOEING CO COM 2,205 11,131
    CVS HEALTH CORPORATION COM 10,751 16,802
    CHEVRON CORPORATION COM 6,561 8,445
    CISCO SYS INC COM 5,600 11,411
    DANAHER CORP DEL COM 1,421 8,441
    DOLLAR GENERAL CORP NEW 7,639 18,927
    DOMINION RES INC VA NEW COM 8,521 9,776
    DUKE ENERGY CORP NEW COM NEW 10,210 13,459
    FACEBOOK INC CL A 7,592 15,297
    FORTIVE CORP COM 1,632 5,595
    HOME DEPOT INC COM 7,807 16,203
    ILLINOIS TOOLWORKS 2,678 12,437
    JPMORGAN CHASE & CO COM 6,712 21,983
    JOHNSON & JOHNSON COM 7,870 16,525
    LINCOLN NATL IND COM    
    MICROSOFT CORP COM 6,472 25,356
    MONDELEZ INTL INC CL A 2,240 8,771
    O REILLY AUTOMOTIVE INC NEW CO 1,906 14,482
    ORACLE SYSTEMS CORPORATION 4,991 18,954
    PEPSICO INCORPORATED 4,395 9,343
    PIONEER NAT RES CO COM 5,098 3,303
    PROCTER & GAMBLE CO COM 3,482 10,296
    PRUDENTIAL FINL INC COM    
    SYNCHRONY FINANCIAL 8,209 10,031
    3M CO COM 2,704 6,467
    UNITEDHEALTH GROUP INC COM 7,981 21,391
    VALERO ENERGY CORP NEW COM 5,576 6,110
    VERIZON COMMUNICATIONS INC COM 4,474 6,698
    VISA INC COM CL A 7,884 20,123
    WELLS FARGO & CO NEW COM    
    BROADCOM LTD 9,188 21,893
    BLACKROCK INC COMMON 7,264 13,709
    SALESFORCE COM INC COM 9,692 20,473
    APPLIED MATLS INC COM 6,622 11,478
    COSTCO WHSL CORP NEW COM 7,075 12,434
    DUPONT DE NEMOURS INC 4,281 3,556
    EXPEDIA INC. COM    
    NETFLIX INC COM 7,532 15,681
    UNION PAC CORP COM 8,030 11,244
    WALMART INC COM 8,557 14,415
    ACCENTURE PLC IRELAND SHS CLAS 2,519 16,979
    NIKE INC CL B 6,557 10,186
    BP AMOCO P L C SPONSORED ADR    
    CIGNA CORP COMMON 10,679 14,156
    CORTEVA INC 1,553 1,936
    DOW, INC    
    FED EX CORP 7,172 11,423
    BOSTON SCIENTIFIC CORP COM 4,477 4,530
    CAPITAL ONE FINL CORP COM 7,027 11,269
    CITIGROUP INC COM NEW 5,932 8,016
    WALT DISNEY COMMON 8,572 14,857
    GOLDMAN SACHS GROUP INC COM 6,687 8,966
    MICRON TECHNOLOGY INC 8,495 13,307
    TARGET CORP COM 8,549 10,415

    TY 2020 InvestmentsOtherSchedule2
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    JANUS INVT FD TRITON FD I SHS AT COST 39,509 55,054
    INVESCO OPPENHEIMER DEVELOPING AT COST 24,964 36,719
    COHEN & STEERS GLOBAL REALTY S AT COST 19,000 18,290
    MFS NEW DISCOVERY VALUE FUND C AT COST 23,000 25,318
    MFS INSTL INTL EQUITY FUND MFS AT COST 27,588 36,347
    T ROWE PRICE MID-CAP GROWTH FU AT COST 38,592 46,079
    VICTORY SYCAMORE ESTABLISHED V AT COST 22,000 22,943

    TY 2020 LegalFeesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - PRINCIPAL (ALLOCA 589 295   295
    LEGAL FEES - INCOME (ALLOCABLE 589 295   295


    TY 2020 OtherDecreasesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Description Amount
    ROUNDING 1
    2020 TRANS POSTED IN 2021 1,323
    COST BASIS ADJ 89


    TY 2020 OtherExpensesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 10 10   0
    OTHER NON-ALLOCABLE EXPENSE - 760 760   0
    INVESTMNT MNGMNT FEES (NON-DED 3,204 3,204   0


    TY 2020 OtherIncreasesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Description Amount
    2019 TRANS POSTED IN 2020 1,702
    SEC 199A DIV ADJ 426


    TY 2020 TaxesSchedule
    Name:
    P FALK TRUST 002738
    EIN:
    42-6091303
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 53 53   0
    FEDERAL TAX PAYMENT - PRIOR YE 910 0   0
    FEDERAL ESTIMATES - PRINCIPAL 1,888 0   0
    FOREIGN TAXES ON QUALIFIED FOR 63 63   0