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
ELAINE F STEPANEK FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

20-5632706
B Telephone number (see instructions)

(855) 452-4015
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$50,231,351J 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... 757,357 737,292  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,415,548
b Gross sales price for all assets on line 6a 17,892,652
7 Capital gain net income (from Part IV, line 2)... 1,415,548
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........ 2,172,905 2,152,840  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 30,000 0   30,000
14 Other employee salaries and wages...... 173,321 0 0 173,321
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule).... Click to see attachment 251,524 201,219   50,305
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 23,231 10,774   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 6,835     6,835
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 486,411 211,993 0 261,961
25 Contributions, gifts, grants paid....... 2,105,000 2,105,000
26 Total expenses and disbursements. Add lines 24 and 25 2,591,411 211,993 0 2,366,961
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -418,506
b Net investment income (if negative, enter -0-) 1,940,847
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......... 1,135,124 1,188,897 1,188,897
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)....... 22,727,659 Click to see attachment23,121,043 34,225,179
c Investments—corporate bonds (attach schedule)....... 12,859,527 Click to see attachment11,888,405 12,976,940
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,200,000 Click to see attachment1,554,468 1,801,472
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment182,420 Click to see attachment38,863 Click to see attachment38,863
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 38,104,730 37,791,676 50,231,351
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........ 38,104,730 37,791,676
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)..... 38,104,730 37,791,676
30 Total liabilities and net assets/fund balances (see instructions). 38,104,730 37,791,676
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
38,104,730
2
Enter amount from Part I, line 27a .....................
2
-418,506
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
134,095
4
Add lines 1, 2, and 3 ..........................
4
37,820,319
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
28,643
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
37,791,676
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 1300. HORMEL FOODS CORPORATIONCOM     2020-01-14
b 90. SPLUNK INC   2019-06-21 2020-01-14
c 701. SPLUNK INC     2020-01-14
d 301. RINGCENTRAL INC   2018-08-01 2020-02-06
e 103. TYLER TECHNOLOGIES INC   2018-12-10 2020-02-06
2031. AMERICAN CAMPUS COMMUNITIES     2020-03-05
173. AMERICAN TOWER CORP   2018-12-10 2020-03-05
300. CENTENE CORP COM   2019-11-04 2020-03-05
1072. CENTENE CORP COM   2018-07-03 2020-03-05
623. FIVE BELOW   2019-03-07 2020-03-05
254. MOHAWK INDS INC COM     2020-03-05
239. UNITEDHEALTH GROUP INC COM     2020-03-05
148331.273 INVESCO OPPENHEIMER SENIOR FLOATING   2018-07-17 2020-03-10
126. COSTCO WHSL CORP NEW COM     2020-03-10
157. S P GLOBAL INC     2020-03-10
5502. CABOT OIL & GAS CORP CL A     2020-03-18
1093. CABOT OIL & GAS CORP CL A   2018-09-05 2020-03-18
76. AMAZON COM INC COM     2020-03-30
326. FIVE BELOW   2019-03-07 2020-03-30
328. WAL MART STORES INC COM   2018-03-06 2020-04-07
107491.173 CAMBIAR INTL EQUITY FUND INS   2016-06-29 2020-05-04
43177.893 BAIRD AGGREGATE BOND FD INSTL     2020-05-04
47438.33 DOUBLELINE TOTAL RET BD I   2018-03-29 2020-05-04
10000. ISHARES S&P SMALL CAP 600 INDEX FD     2020-05-04
4000. ISHARES S&P SMALL CAP 600 INDEX FD   2019-06-12 2020-05-04
62189.055 BARON EMERGING MARKETS INSTITUTIONAL   2015-12-08 2020-05-14
5088. DELTA AIR LINES INC     2020-05-14
2480. DELTA AIR LINES INC     2020-05-14
5169.562 CLEARBRIDGE INTERNATIONAL GROWTH   2020-05-04 2020-05-14
126291.619 MAINSTAY FLOATING RATE I   2020-03-10 2020-05-14
1700. STANDARD & POORS DEPOSITARY RECEIPTS   2019-11-18 2020-05-14
3550. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2020-05-14
234. ALBEMARLE CORP     2020-05-21
6. AMAZON COM INC COM   2017-02-14 2020-05-21
576. BANK OF AMERICA CORP   2020-03-05 2020-05-21
852. ELECTRONIC ARTS COM   2019-05-17 2020-05-21
1264. ELECTRONIC ARTS COM     2020-05-21
81. MICROSOFT CORP   2018-07-19 2020-05-21
218. CHUBB LTD   2016-01-26 2020-05-21
33. SERVICENOW INC   2020-05-14 2020-05-27
227. SERVICENOW INC     2020-05-27
1176. SPLUNK INC     2020-05-27
1. BANK OF AMERICA CLASS ACTION PROCEEDS   1911-11-11 2020-06-29
38. AMAZON COM INC COM   2017-02-14 2020-07-07
588. FACEBOOK INC A     2020-07-07
1600. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2020-07-07
7. SCHWAB CHARLES CORP NEW COM   2020-02-26 2020-07-07
4. SERVICENOW INC   2020-05-14 2020-07-07
6. TELADOC INC   2020-05-27 2020-07-07
2. APTIV PLC   2018-11-05 2020-07-07
.261 MATCH GROUP INC NEW   2020-07-07 2020-08-04
2009. ALBEMARLE CORP     2020-08-12
1478.00114 ALBEMARLE CORP     2020-08-12
47.99886 ALBEMARLE CORP   2017-02-28 2020-08-12
89. ALPHABET INC CL A     2020-08-12
10. ALPHABET INC CL A   2020-07-07 2020-08-12
34388.226 BARON EMERGING MARKETS INSTITUTIONAL   2015-12-08 2020-08-12
61516.682 PRINCIPAL GL R E SEC INS   2018-04-16 2020-08-12
1200. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2020-08-12
27667.984 CAUSEWAY EMERGING MARKETS INSTL   2016-06-29 2020-09-10
3000. ISHARES S&P SMALL CAP 600 INDEX FD   2011-06-22 2020-09-10
1500. MIDCAP SPDR TRUST SERIES I E T F   2019-11-18 2020-09-10
1500. MIDCAP SPDR TRUST SERIES I E T F   2019-06-12 2020-09-10
10000. ISHARES CORE US TREASURY BOND ETF   2020-08-12 2020-09-18
1500. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2020-09-18
3000. MIDCAP SPDR TRUST SERIES I E T F     2020-09-23
1. WELLS FARGO & CO NEW   1911-11-11 2020-10-02
4599. MYLAN NV   2020-03-05 2020-11-17
5853. MYLAN NV   2020-05-04 2020-11-17
6820. MYLAN NV   2020-05-14 2020-11-17
1014. MYLAN NV   2019-03-07 2020-11-17
627. MYLAN NV   2018-12-10 2020-11-17
850. MYLAN NV   2018-07-19 2020-11-17
94. MYLAN NV   2018-01-25 2020-11-17
145. MYLAN NV   2017-06-21 2020-11-17
957. MYLAN NV   2017-08-08 2020-11-17
151. MYLAN NV   2017-07-21 2020-11-17
601. MYLAN NV   2016-06-19 2020-11-17
2708. MYLAN NV   2020-05-21 2020-11-17
1807. MYLAN NV   2017-04-17 2020-11-17
660. MYLAN NV   2020-09-10 2020-11-17
2317. MYLAN NV   2020-09-18 2020-11-17
975. MYLAN NV   2020-07-07 2020-11-17
457. BOEING COMPANY     2020-11-18
156. BOEING COMPANY   2019-06-21 2020-11-18
687. FACEBOOK INC A     2020-11-18
286. TRADE DESK INC THE CLASS A   2019-10-02 2020-11-18
40. TRANSDIGM GROUP INC   2018-07-19 2020-11-18
222. UNITEDHEALTH GROUP INC COM     2020-11-18
1. AMGEN INC   1911-11-11 2020-12-07
71. SPLUNK INC     2020-12-07
687. SPLUNK INC     2020-12-07
25. TRADE DESK INC THE CLASS A   2019-10-02 2020-12-07
206. TRADE DESK INC THE CLASS A     2020-12-07
CAPITAL GAIN DIVIDENDS P    
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(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 59,056   42,389 16,667
b 14,092   11,130 2,962
c 109,763   71,287 38,476
d 61,641   22,966 38,675
e 33,834   19,059 14,775
90,589   95,180 -4,591
42,375   28,251 14,124
17,862   15,496 2,366
63,827   61,700 2,127
58,761   73,048 -14,287
30,333   45,118 -14,785
67,541   32,545 34,996
1,022,002   1,200,000 -177,998
37,613   25,901 11,712
39,237   19,015 20,222
101,439   101,910 -471
20,151   24,767 -4,616
145,617   111,711 33,906
22,637   38,224 -15,587
40,687   29,444 11,243
2,172,397   2,476,597 -304,200
500,000   473,968 26,032
500,000   497,154 2,846
598,619   371,094 227,525
239,448   303,220 -63,772
750,622   655,075 95,547
91,052   170,822 -79,770
44,381   102,185 -57,804
247,364   245,192 2,172
1,054,535   1,100,000 -45,465
471,871   530,638 -58,767
985,379   864,699 120,680
15,895   26,308 -10,413
14,747   5,015 9,732
13,156   15,442 -2,286
100,528   83,309 17,219
149,141   147,475 1,666
14,939   8,481 6,458
24,252   23,881 371
11,985   11,823 162
82,440   40,940 41,500
208,992   160,771 48,221
24     24
115,978   31,762 84,216
143,728   84,199 59,529
506,297   389,724 116,573
237   296 -59
1,678   1,433 245
1,316   943 373
155   152 3
26   24 2
181,474   134,568 46,906
133,508   142,984 -9,476
4,336   4,537 -201
134,085   94,716 39,369
15,066   15,155 -89
534,049   362,232 171,817
564,108   579,373 -15,265
404,499   292,293 112,206
350,000   274,743 75,257
218,379   107,223 111,156
517,531   546,612 -29,081
517,531   519,702 -2,171
278,994   280,200 -1,206
492,957   365,366 127,591
988,433   820,685 167,748
230     230
72,457   74,066 -1,609
92,214   94,466 -2,252
107,449   104,439 3,010
15,976   27,256 -11,280
9,878   18,346 -8,468
13,392   30,383 -16,991
1,481   4,390 -2,909
2,284   5,611 -3,327
15,078   30,830 -15,752
2,379   5,913 -3,534
9,469   28,320 -18,851
42,665   42,921 -256
28,469   68,086 -39,617
10,398   10,128 270
36,504   36,350 154
15,361   15,921 -560
94,876   77,397 17,479
32,386   58,287 -25,901
188,377   88,242 100,135
222,795   52,509 170,286
23,926   13,406 10,520
77,201   50,580 26,621
18     18
11,081   14,196 -3,115
107,221   78,684 28,537
22,631   4,590 18,041
186,477   71,077 115,400
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
      23,243
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       16,667
b       2,962
c       38,476
d       38,675
e       14,775
      -4,591
      14,124
      2,366
      2,127
      -14,287
      -14,785
      34,996
      -177,998
      11,712
      20,222
      -471
      -4,616
      33,906
      -15,587
      11,243
      -304,200
      26,032
      2,846
      227,525
      -63,772
      95,547
      -79,770
      -57,804
      2,172
      -45,465
      -58,767
      120,680
      -10,413
      9,732
      -2,286
      17,219
      1,666
      6,458
      371
      162
      41,500
      48,221
      24
      84,216
      59,529
      116,573
      -59
      245
      373
      3
      2
      46,906
      -9,476
      -201
      39,369
      -89
      171,817
      -15,265
      112,206
      75,257
      111,156
      -29,081
      -2,171
      -1,206
      127,591
      167,748
      230
      -1,609
      -2,252
      3,010
      -11,280
      -8,468
      -16,991
      -2,909
      -3,327
      -15,752
      -3,534
      -18,851
      -256
      -39,617
      270
      154
      -560
      17,479
      -25,901
      100,135
      170,286
      10,520
      26,621
      18
      -3,115
      28,537
      18,041
      115,400
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 1,415,548
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 26,978
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 26,978
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 26,978
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 24,136
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 24,136
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 2,842
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet0 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See 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)
    bulletMN
    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 ofbulletUS BANK NATIONAL ASSOCIATION Telephone no.bullet (503) 464-4908

    Located atbullet101 EAST FIFTH STREETSAINT PAULMN ZIP+4bullet55101
    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 bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........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
    DANIEL H GAINEY PRESIDENT & TRESURER
    2     		10,000    
    817 ARBOLADO ROAD
    SANTA BARBARA,CA93103
    DIANE P GAINEY VP & SECRETARY
    2     		10,000    
    817 ARBOLADO ROAD
    SANTA BARBARA,CA93103
    WILIAM K RODGERS BOARD MEMBER
    2     		10,000    
    25 WEST PADRE ST
    SANTA BARBARA,CA93105
    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
    US BANK N A CUSTODIAL SVCS/TAX P 251,524
    P O BOX 64713 TRUST TAX SERVICES
    MINNEAPOLIS,MN55164
    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
    44,065,261
    b
    Average of monthly cash balances.......................
    1b
    874,981
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    44,940,242
    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
    44,940,242
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    674,104
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    44,266,138
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,213,307
    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
    2,213,307
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    26,978
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    26,978
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,186,329
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,186,329
    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
    2,186,329
    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
    2,366,961
    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
    2,366,961
    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
    2,366,961
    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 2,186,329
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 2,136,980
    b Total for prior years:20, 20, 20 0
    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$ 2,366,961
    a Applied to 2019, but not more than line 2a 2,136,980
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 229,981
    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 ..........     		1,956,348
    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 e-mail address of the person to whom applications should be addressed:
    ELAINE F STEPANEK FOUNDATION
    C/O US BANK NA 101 E 5TH ST 14TH
    ST PAUL,MN551011860
    (855) 452-4015
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORMAT
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SUPPORTS PUBLICLY SUPPORTED CHARITABLE ORGANIZATIONS AND 501(C)(3) ORGANIZATIONS. THE FOUNDATION MAY ALSO PROVIDE SCHOLARSHIPS WITH THE SCHOOL AND GEOGRAPHICAL AREA TO BE DETERMINED.
    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
    ISD 761 FOUNDATION
    515 WEST BRIDGE ST
    OWATONNA,MN55060     		NONE PC GENERAL OPERATING 80,000
    LAGUNA BLANCA SCHOOL
    4125 PALOMA DRIVE
    SANTA BARBARA,CA93110     		NONE PC GENERAL OPERATING 250,000
    SANTA BARBARA SYMPHONY ORCHESTRA
    1330 STATE STREET SUITE 102
    SANTA BARBARA,CA93101     		NONE PC GENERAL OPERATING 30,000
    NOTES FOR NOTES
    PO BOX 90632
    SANTA BARBARA,CA93190     		NONE PC GENERAL SUPPORT 10,000
    SANTA BARBARA COTTAGE
    HOSPITAL FOUNDATION
    P O BOX 689
    SANTA BARBARA,CA93102     		NONE PC GENERAL SUPPORT 285,000
    SANTA YNEZ VALLEY - COTTAGE HOSPITAL FDN
    2050 VIBORG ROAD
    SOLVANG,CA93463     		NONE PC PROGRAM SUPPORT 50,000
    OPERA SANTA BARBARA
    1330 STATE ST STE 209
    SANTA BARBARA,CA93101     		NONE PC PROGRAM SUPPORT 50,000
    MUSIC ACADEMY OF THE WEST
    1070 FAIRWAY ROAD
    SANTA BARBARA,CA931082899     		NONE PC PROGRAM SUPPORT 50,000
    BRAILLE INSTITUTE OF AMERICA INC
    2031 DE LA VINA STREET
    SANTA BARBARA,CA93105     		NONE PUBLCI PROGRAM SUPPORT 100,000
    SANTA BARBARA MUSEUM OF ART
    1130 STATE STREET
    SANTA BARBARA,CA93101     		NONE NONE PROGRAM SUPPORT 75,000
    COMMUNITY ARTS MUSIC ASSOCIATION
    2060 ALAMEDA PADRE SERRA ST 201
    SANTA BARBARA,CA93103     		NONE PC PROGRAM SUPPORT 30,000
    LOBERO THEATRE FOUNDATION
    33 EAST CANON PERIDO ST
    SANTA BARBARA,CA93101     		NONE PC PROGRAM SUPPORT 50,000
    SANTA BARBARA EDUCATION FOUNDATION
    720 SANTA BARBARA STREET
    SANTA BARBARA,CA93101     		NONE PC GENERAL SUPPORT 200,000
    CAPE ARTS & ENTERTAINMENT
    1060 FALMOUTH ROAD
    HYANNIS,MA02601     		NONE PC GENERAL SUPPORT 120,000
    GOLETA VALLEY COTTEGE
    HOSPITAL FOUNDATION
    PO BOX 689
    SANTA BARBARA,CA93102     		NONE PC GENERAL SUPPORT 50,000
    SANTA BARBARA BOWL FOUNDATION
    1122 NORTH MILPAS STREET
    SANTA BARBARA,CA93103     		NONE PC GENERAL SUPPORT 150,000
    HEARTS THERAPEUTIC EQUESTRIAN CENTER
    PO BOX 30662
    SANTA BARBARA,CA93130     		NONE PC GENERAL OPERATING 25,000
    SOLVANG THEATERFEST
    PO BOX 917
    SOLVANG,CA93464     		NONE PC GENERAL OPERATING 100,000
    GEVIRTZ GRADUATE SCHOOL OF EDUCATION
    18 OCEAN ROAD
    ISLA VISTA,CA931069490     		NONE PC GENERAL OPERATING 100,000
    SANTA BARBARA NEIGHBORHOOD CLINIC
    915 NORTH MILPAS STREET
    SANTA BARBARA,CA93103     		NONE PC GENERAL OPERATING 300,000
    Total .................................bullet 3a 2,105,000
    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....     14 757,357  
    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 1,415,548  
    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)..   2,172,905  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,172,905
    (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:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Name of Bond End of Year Book Value End of Year Fair Market Value
    31420B300 FEDERATED INST HI YL 1,164,974 1,259,738
    057071854 BAIRD AGGREGATE BOND 3,131,375 3,477,565
    258620103 DOUBLELINE TOTAL RET 3,062,166 3,134,982
    808524870 SCHWAB U.S. TIPS ETF 729,890 824,422
    95001HDF5 WFF 24M SPX 2X LBR M 500,000 531,650
    06367WPJ6 BMO 24M MXEA 2X LBR 200,000 210,380
    06367WQK2 BMO 24M SPX 2X LBR M 500,000 567,335
    06367WQL0 BMO 24M VXF 2X LBR M 200,000 210,800
    48132FS56 JPM 24M SPX 2X LBR M 500,000 559,700
    95001HA68 WFF 24M MXEF 2X LBR 100,000 113,830
    95001HAT8 WFF 24M MXEA 1.5X LB 200,000 219,160
    95001HAS0 WFF 24M MXEF 1.5X LB 100,000 111,840
    06367WPH0 BMO 24M VXF 2X LBR M 200,000 233,308
    48132FZH2 JPM 24M MXEA TW 2021 200,000 214,960
    48132FZJ8 JPM 24M MXEF TW 2021 100,000 123,170
    48132FCR5 JPM 24M SPX 2X LBR M 500,000 566,150
    48132FZG4 JPM 24M SPX TW 20211 500,000 617,950

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Name of Stock End of Year Book Value End of Year Fair Market Value
    893641100 TRANSDIGM GROUP INC 321,802 477,133
    N59465109 MYLAN NV    
    464287465 ISHARES MSCI EAFE ET 3,283,456 3,992,663
    06828M876 BARON EMERGING MARKE    
    00769G543 CAMBIAR INTL EQUITY    
    78462F103 SPDR S P 500 ETF 1,587,042 2,718,108
    902252105 TYLER TECHNOLOGIES I 147,365 214,331
    848637104 SPLUNK INC    
    30303M102 FACEBOOK INC A 429,440 574,729
    91324P102 UNITED HEALTH GROUP 153,694 237,761
    060505104 BANK OF AMERICA CORP 604,849 783,908
    81762P102 SERVICENOW INC 82,424 126,048
    023135106 AMAZON.COM INC 801,127 1,270,203
    931142103 WAL MART STORES INC 401,366 538,833
    127097103 CABOT OIL GAS CORP C 179,704 159,804
    03027X100 AMERICAN TOWER CORP 469,734 531,970
    46625H100 J P MORGAN CHASE CO 586,959 825,320
    02079K305 ALPHABET INC CL A 556,656 813,225
    H1467J104 CHUBB LTD 252,852 392,342
    808513105 SCHWAB CHARLES CORP 453,746 661,780
    57636Q104 MASTERCARD INC 145,848 220,946
    024835100 AMERICAN CAMPUS COMM    
    149498107 CAUSEWAY EMERGING MA 926,763 1,403,677
    037833100 APPLE INC 554,814 1,059,928
    440452100 HORMEL FOODS CORP    
    012653101 ALBEMARLE CORP 139,211 355,081
    22160K105 COSTCO WHSL CORP 259,705 377,534
    78467Y107 MIDCAP SPDR TRUST SE 1,596,844 3,886,360
    247361702 DELTA AIR LINES INC    
    78409V104 S P GLOBAL INC 87,702 136,423
    594918104 MICROSOFT CORP 906,637 1,421,264
    28176E108 EDWARDS LIFESCIENCES 126,429 181,548
    464287804 I SHARES S P SMALLC 393,434 1,021,928
    56585A102 MARATHON PETROLEUM C 527,277 503,351
    608190104 MOHAWK INDS INC CO    
    G6095L109 APTIV PLC 104,085 197,259
    15135B101 CENTENE CORP COM 578,401 570,405
    595112103 MICRON TECHNOLOGY IN 370,302 583,923
    76680R206 RINGCENTRAL INC 313,438 507,820
    70450Y103 PAYPAL HOLDINGS INC 468,176 904,949
    74254V273 PRINCIPAL GL R E SEC    
    89400J107 TRANSUNION 300,797 403,230
    88339J105 TRADE DESK INC THE C 70,392 197,046
    285512109 ELECTRONIC ARTS INC 137,491 186,106
    278865100 ECOLAB INC 413,747 470,583
    33829M101 FIVE BELOW    
    922908553 VANGUARD REIT ETF 1,094,516 1,180,527
    375558103 GILEAD SCIENCES INC 445,021 378,515
    097023105 BOEING CO    
    461202103 INTUIT INC 147,693 205,499
    217204106 COPART INC COM 290,228 431,123
    776696106 ROPER INDS INC 159,999 185,369
    57667L107 MATCH GROUP INC NEW 446,576 836,534
    79466L302 SALESFORCE COM INC 246,593 313,100
    92556V106 VIATRIS INC 597,427 565,536
    87612E106 TARGET CORP 340,610 506,288
    G5960L103 MEDTRONIC PLC 253,858 309,250
    87918A105 TELADOC INC 364,813 405,919

    TY 2020 InvestmentsOtherSchedule2
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    00141G856 INVESCO OPPENHEIMER      
    46429B267 ISHARES CORE US TREA AT COST 924,660 898,920
    524686524 CLEARBRIDGE INTERNAT AT COST 629,808 902,552

    TY 2020 OtherAssetsSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME   0 0
    000000000 MISCELLANEOUS ENTRY 182,420 38,863 38,863


    TY 2020 OtherDecreasesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Amount
    WASH SALE ADJUSTMENT 12,988
    PY MUTUAL FUND TIMING ADJUSTMENT 8,062
    PY ROC ADJUSTMENT 7,446
    COST BASIS ADJUSTMENT 147


    TY 2020 OtherExpensesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 25 0   25
    INSURANCE EXPENSE 6,783 0   6,783
    MISCELLANEOUS EXPENSE 27 0   27


    TY 2020 OtherIncreasesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Amount
    ROC ADJUSTMENT ON CY SALE 134,095


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    U.S. BANK FEES 251,524 201,219   50,305


    TY 2020 TaxesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 10,729 10,729   0
    FEDERAL ESTIMATES - PRINCIPAL 12,457 0   0
    FOREIGN TAXES ON NONQUALIFIED 45 45   0