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
THE ELBURN SCHOLARSHIP FUND
 
Number and street (or P.O. box number if mail is not delivered to street address)611 PLAMONDON COURT
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WHEATON, IL601896305
A Employer identification number

36-3366640
B Telephone number (see instructions)

(630) 665-2776
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$1,055,518J 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 8,633 8,633  
4 Dividends and interest from securities... 22,301 22,301  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 154
b Gross sales price for all assets on line 6a 291,898
7 Capital gain net income (from Part IV, line 2)... 154
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 31,088 31,088  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 6,567 6,567    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 393 393    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 6,960 6,960   0
25 Contributions, gifts, grants paid....... 65,000 65,000
26 Total expenses and disbursements. Add lines 24 and 25 71,960 6,960   65,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -40,872
b Net investment income (if negative, enter -0-) 24,128
c Adjusted net income (if negative, enter -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............. 2,571 2,267 2,267
2 Savings and temporary cash investments.........   20,343 20,343
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,059,826 Click to see attachment1,032,908 1,032,908
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) 1,062,397 1,055,518 1,055,518
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........... 1,062,397 1,055,518
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........    
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)..... 1,062,397 1,055,518
30 Total liabilities and net assets/fund balances (see instructions). 1,062,397 1,055,518
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
1,062,397
2
Enter amount from Part I, line 27a .....................
2
-40,872
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
1,021,525
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
-33,993
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,055,518
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 BAIRD CORE PLUS BOND P 2018-01-01 2020-07-17
b ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
c US TREASUR NT 1.75% 11/29 P 2019-11-13 2020-03-06
d FNMA PL MA2154 3% P 2015-01-27 2020-01-08
e US TREASUR NT 3% 10/25UST NOTE P 2019-02-04 2020-11-09
HONEYWELL INTL INC P 2018-11-16 2020-11-20
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
US TREASUR NT 1.75% 11/29 P 2020-01-06 2020-03-10
FNMA PL MA2214 3% P 2015-03-23 2020-01-08
US TREASUR NT 2.75% 2/24 P 2015-07-07 2020-01-06
INVESCO PREFERRED ETF P 2017-09-26 2020-07-17
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
ALPHABET INC 1.998% P 2016-08-02 2020-03-06
FNMA PL MA2233 2.5% P 2015-04-02 2020-05-11
US TREASUR NT 2.75% 2/24 P 2015-07-08 2020-01-06
INVESCO PREFERRED ETF P 2017-09-26 2020-07-17
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
ALTRUA GROUP INC 3.49% P 2019-02-12 2020-09-22
FNMA PL MA2239 % P 2015-04-10 2020-01-08
US TREASUR NT 2.75% 2/24 P 2018-06-21 2020-02-03
ISHARES CORE S&P SMALL CAP ETF P 2012-04-09 2020-05-29
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
AMERISOURCEBERGE 3.45% P 2017-11-29 2020-01-14
FNMA PL MA2570 3% P 2016-06-14 2020-05-11
US TREASUR NT 2.75% 2/25 P 2018-03-07 2020-02-18
ISHARES CORE S&P SMALL CAP ETF P 2019-05-28 2020-05-29
PIMCO INCM INST CL P 2015-11-06 2020-05-29
AUTOMATIC DATA 3.375% P 2015-11-06 2020-10-01
FNMA PL MA2570 3% P 2017-06-13 2020-05-11
US TREASUR NT 2.75% 2/25 P 2018-03-20 2020-02-28
ISHARES INTERNATIONA SEL DEV ETF P 2019-05-28 2020-05-29
PIMCO INCM INST P 2015-11-06 2020-07-17
BOOKING HOLDINGS 3.6% P 2016-05-18 2020-06-02
FREDDIE MAC 2.375% P 2017-10-16 2020-03-06
US TREASUR NT2.75% 2/25 P 2018-04-10 2020-05-21
ISHARES INTERNATIONA SEL DEV ETF P 2019-05-28 2020-05-29
PIMCO INCOME INSTL P 2015-11-06 2020-11-20
COSTCO WHOLESALE 2.75% P 2017-05-10 2020-02-12
GENERAL DYNAMIC 2.375% P 2018-12-12 2020-09-30
US TREASUR NT 2.75% 2/25 P 2018-05-04 2020-11-05
ISHARES INTERNATIONA SEL DEV ETF P 2019-05-28 2020-05-29
PRUDENTIAL FINL P 2018-06-20 2020-11-20
ECOLAB INC 2.7% P 2017-04-27 2020-11-17
HUNTINGTON BANCSH 2.3% P 2016-12-06 2020-09-02
US TREASUR NT 2.75% 2/25 P 2018-12-10 2020-11-09
ISHARES INTERNATIONA SEL DEV ETF P 2019-05-28 2020-05-29
VANGUARD GNMA ADM P 2012-11-06 2020-07-17
FEDERAL NATL MO 2.375% P 2017-10-16 2020-07-08
INTER-AMERN DEV 1.875% P 2015-06-09 2020-01-16
US TREASUR NT 2.75% 2/25 P 2019-01-17 2020-11-30
LOOMIS SAYLES BOND INSTL P 2014-03-24 2020-07-17
VANGUARD SHORT-TERM INVESTMENT GRADE P 2012-11-06 2020-07-17
FEDERAL NATL MO 2.875% P 2018-10-30 2020-01-16
NORTHERN STATES P 2.6% P 2014-02-19 2020-09-09
US TREASUR NT 2.75% 2/25 P 2019-01-24 2020-11-30
MFS EMERGING MARKETS DEBT I P 2018-01-01 2020-07-17
VIATRIS INC P 2016-05-18 2020-11-17
FNMA PL AB9392 2.5% P 2013-05-09 2020-01-13
NVIDIA CORP 2.2% P 2016-11-04 2020-07-20
US TREASUR NT 2.75% 2/28 P 2018-03-23 2020-06-05
MFS EMERGING MKTS DEBT FD CL I P 2014-11-25 2020-05-29
VORTIS SEIX HIGH INCOME I P 2012-04-09 2020-07-17
FNMA PL MA2020 2.5% P 2014-11-21 2020-01-13
SHELL INTERNTNL 3.5% P 2018-11-07 2020-12-02
US TREASUR NT 2.75% 2/28 P 2018-05-18 2020-06-16
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
WISDOMTREE INTL SMALLCP DIV ETF P 2019-05-28 2020-05-29
FNMA PL MA 2047 2.5% P 2014-11-13 2020-01-13
TRINITY ACQUISITI3.5% P 2016-10-13 2020-03-11
US TREASURY 3.125% 11/28 UST BOND P 2019-04-25 2020-06-17
ORANGE FSPONSORED ADR P 2014-11-25 2020-11-20
US TREASUR NT 1.75% 11/29 P 2019-11-13 2020-02-11
FNMA PL MA 2047 2.5% P 2014-11-14 2020-01-13
TRUIST FINL CORP 2.75% P 2017-10-20 2020-08-10
(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 15,000   13,753 1,247
b 1,184   1,646 -462
c 3,283   2,964 319
d 1,009   1,064 -55
e 3,378   3,054 324
7,667   5,619 2,048
1,233   1,715 -482
3,268   2,984 284
527   541 -14
1,045   1,024 21
5,050   5,269 -219
1,849   2,572 -723
2,098   1,958 140
1,076   1,069 7
2,091   2,048 43
14,430   15,056 -626
2,466   3,429 -963
2,083   2,000 83
1,023   1,090 -67
2,110   1,993 117
6,629   3,696 2,933
2,564   3,567 -1,003
3,132   2,993 139
1,483   1,478 5
3,196   2,989 207
2,917   3,324 -407
20,000   21,410 -1,410
2,254   2,018 236
1,112   1,087 25
3,258   2,986 272
616   761 -145
20,000   20,988 -988
3,232   2,994 238
3,097   3,025 72
3,342   3,002 340
690   853 -163
7,500   7,628 -128
3,129   2,993 136
3,215   2,865 350
3,318   2,973 345
715   883 -168
3,770   4,872 -1,102
2,217   1,948 269
3,076   2,977 99
3,306   3,002 304
3,525   4,355 -830
11,915   12,241 -326
2,066   2,014 52
4,004   3,998 6
3,311   3,016 295
15,000   17,188 -2,188
5,000   4,924 76
3,029   2,998 31
3,140   2,948 192
3,311   3,018 293
5,000   5,110 -110
4   3 1
595   618 -23
2,039   2,001 38
3,444   2,979 465
12,500   13,255 -755
10,000   11,398 -1,398
672   684 -12
3,265   2,987 278
3,482   2,935 547
12   17 -5
2,760   3,235 -475
721   731 -10
2,052   2,025 27
2,407   2,089 318
247   343 -96
3,044   2,969 75
480   488 -8
3,111   3,017 94
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       1,247
b       -462
c       319
d       -55
e       324
      2,048
      -482
      284
      -14
      21
      -219
      -723
      140
      7
      43
      -626
      -963
      83
      -67
      117
      2,933
      -1,003
      139
      5
      207
      -407
      -1,410
      236
      25
      272
      -145
      -988
      238
      72
      340
      -163
      -128
      136
      350
      345
      -168
      -1,102
      269
      99
      304
      -830
      -326
      52
      6
      295
      -2,188
      76
      31
      192
      293
      -110
      1
      -23
      38
      465
      -755
      -1,398
      -12
      278
      547
      -5
      -475
      -10
      27
      318
      -96
      75
      -8
      94
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 2 154
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 3 678
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................................ 1 335
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  
3 Add lines 1 and 2........................... 3 335
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 335
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 240
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 122
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 362
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 27
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet27 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See 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)
    bulletIL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbulletN/A
    14
    The books are in care ofbulletGEORDAN L CAPES Telephone no.bullet (630) 665-2776

    Located atbullet737 W ALDINE AVE UNIT 1CHICAGOIL ZIP+4bullet60657
    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
     
     
    ........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
     
     
    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
    DONALD G WESTLAKE PRESIDENT
    2.00     		0 0 0
    611 PLAMONDON CT
    WHEATON,IL601896305
    GEORDAN L CAPES TREASURER
    1.00     		0 0 0
    737 W ALDINE AVE UNIT 1
    CHICAGO,IL60657
    DAWN WESTLAKE SECRETARY
    1.00     		0 0 0
    611 S GENESEE AVE
    LOS ANGELES,CA90036
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (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.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (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
    1,038,237
    b
    Average of monthly cash balances.......................
    1b
    20,720
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,058,957
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    1,058,957
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    0
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,058,957
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    52,948
    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
    52,948
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    335
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    335
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    52,613
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    52,613
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    52,613
    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
    65,000
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    65,000
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    65,000
    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 52,613
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 131
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 65,000
    a Applied to 2019, but not more than line 2a 131
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2020 distributable amount..... 52,613
    e Remaining amount distributed out of corpus 12,256
    5 Excess distributions carryover applied to 2020.    
    (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 12,256
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		12,256
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020.... 12,256
    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).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    THE ELBURB SCHOLARSHIP FUND
    611 PLAMONDON CT
    WHEATON,IL601896305
    ESFAPP@GMAIL.COM
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS ARE AVAILABLE AT THE EMAIL ADDRESS, AND COMPLETED FORMS SHOULD BE SENT TO THAT ADDRESS.
    cAny submission deadlines:
    MARCH 1
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    EDUCATION AWARDS: ALL SCHOLARSHIP RECIPIENTS MUST BE GRADUATES OF KANELAND HIGH SCHOOL WHO ENROLL IN PUBLIC UNIVERSITIES/COMMUNITY COLLEGES IN ILLINOIS.
    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
    ETHAN FEIZA WAUBONSEE CC
    423 S GENEVA ST
    MAPLE PARK,IL60151     		NONE I EDUCATION 4,000
    JACK GERLING UNIV OF IL URBANA
    3S544 FINLEY RD
    SUGAR GROVE,IL60554     		NONE I EDUCATION 7,500
    LAUREN KAROLEWICZ WAUBONSEE CC
    43W982 OAKLEAF DR
    ELBURN,IL60119     		NONE I EDUCATION 4,000
    VERONICA LATKA WAUBONSEE CC
    328 SUTTON CT
    SUGAR GROVE,IL60554     		NONE I EDUCATION 4,000
    CLAIRE LEHMAN UNIV OF IL URBANA
    1545 FAIRFIELD DR
    ELBURN,IL60119     		NONE I EDUCATION 7,500
    REAGAN MALONEY ILLINOIS STATE UNI
    790 BOYCE RD
    SUGAR GROVE,IL60554     		NONE I EDUCATION 7,000
    BEN MANUGAS UNIV OF IL CHICAGO
    1160 MOTZ ST
    ELBURN,IL60119     		NONE I EDUCATION 5,000
    BRIDGET MCCRACKEN ILLINOIS STATE
    902 ELM ST
    SUGAR GROVE,IL60554     		NONE I EDUCATION 7,000
    DANIEL PAWLAK UNIV OF IL URBANA
    1227 CORRIGAN ST
    ELBURN,IL60119     		NONE I EDUCATION 7,500
    KATELYN SCHULTZ WAUBONSEE CC
    236 BERKSHIRE LN
    SUGAR GROVE,IL60554     		NONE I EDUCATION 4,000
    RICHIES TIV UNIV OF IL CHICAGO
    1062 WISE ST
    ELBURN,IL60119     		NONE I EDUCATION 7,500
    Total .................................bullet 3a 65,000
    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 ...........     		    14 8,633  
    4 Dividends and interest from securities....     14 22,301  
    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 ............     		    18 154  
    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)..   31,088  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    31,088
    (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 InvestmentsOtherSchedule2
    Name:
    THE ELBURN SCHOLARSHIP FUND
    EIN:
    36-3366640
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ABBIVIE INC 3.75%23 FMV 3,270 3,270
    AFS SENSUB CORP 2.65%24 FMV 3,544 3,544
    AGILENT TECHNOL 3.875%23 FMV 3,228 3,228
    ALPHABET INC 1.998% 26 FMV    
    ALPS SECTOR DIVIDEND FMV 62,496 62,496
    ALTRIA GROUP IN 3.49% 22 FMV    
    AMDOCS LIMITED 2.538%30F FMV 3,145 3,145
    AMERICSOURCEBERGE 3.45% 27 FMV    
    AMGEN INC 1.9%25 FMV 3,154 3,154
    AMPHENOL CORP 2.8%30 FMV 3,289 3,289
    AT & T INC 2.3%27 FMV 3,198 3,198
    AUTOMATIC DATA 3.375%25 FMV    
    AUTOZONE INC 3.125%23 FMV 3,183 3,183
    BAIRD CORE PLUS BOND INS FMV 44,397 44,397
    BANK OF AMERICA C VAR 26 FMV 3,047 3,047
    BAT CAPITAL C 2.259%28 FMV 3,107 3,107
    BLACKROCK INC 3.2%27 FMV 3,387 3,387
    BOOKING HOLDINGS 3.6% 26 FMV    
    CANGUARD SMALL CAP VALUE FMV 19,341 19,341
    CAPITAL ONE FUND 1.99% 23 FMV    
    CHEVRON CORP FMV 8,445 8,445
    CME GROUP INC 3.75%28 FMV 3,560 3,560
    CNH EQUIPMENT TR 2.36%24 FMV 3,045 3,045
    COMCAST CORP 32.3%27 FMV 3,376 3,376
    COSTCO WHOLESALE 2.75% 24 FMV    
    CVS HEALTH CORP 3%26 FMV 3,310 3,310
    DOLLAR GENERAL C 3.25%23 FMV 3,175 3,175
    DUKE ENERGY PROGR 3.7%28 FMV 3,483 3,483
    EBAY INC 1.9%25 FMV 4,198 4,198
    ECOLAB INC 2.7% 26 FMV    
    FEDERAL HOME LN .081%29 FMV 3,966 3,966
    FEDERAL HOME LO 2.598%25 FMV 1,817 1,817
    FEDERAL NTNL MO 2.875% 20 FMV    
    FHLMC G14809 3%28 FMV 3,886 3,886
    FHLMC G14814 4.5%25 FMV 2,486 2,486
    FHLMC G18575 3%30 FMV 1,110 1,110
    FHLMC G18597 3.5%31 FMV 1,442 1,442
    FHLMC G31066 4%35 FMV 1,984 1,984
    FHLMC SC8027 3%35 FMV 5,520 5,520
    FIDELITY SELECT SOFTWARE FMV 16,630 16,630
    FIRST ENERGY CORP FMV 21,427 21,427
    FISERV INC 3.2%26 FMV 2,240 2,240
    FNMA PL AB9392 2.5%23 FMV    
    FNMA PL AD0686 4.5%25 FMV 5,954 5,954
    FNMA PL AL4898 4.5%27 FMV 655 655
    FNMA PL AL4898 4.5%27 FMV    
    FNMA PL AL5957 4%27 FMV 2,124 2,124
    FNMA PL AL6841 4%29 FMV 2,314 2,314
    FNMA PL AS4198 3.5%29 FMV 1,056 1,056
    FNMA PL BK0709 2.5%35 FMV 2,249 2,249
    FNMA PL BM5440 4.5%38 FMV 1,957 1,957
    FNMA PL BN6579 3.5%34 FMV 1,590 1,590
    FNMA PL CA3163 4.5%34 FMV 2,308 2,308
    FNMA PL FM3081 3%33 FMV 2,494 2,494
    FNMA PL MA 2047 2.5% 24 FMV    
    FNMA PL MA 2239 3%25 FMV    
    FNMA PL MA2020 2.5%24 FMV    
    FNMA PL MA2154 3%25 FMV    
    FNMA PL MA2214 3%25 FMV    
    FNMA PL MA2233 2.5%25 FMV    
    FNMA PL MA2570 3% 26 FMV    
    FNMA PL MA2868 2.5%32 FMV 3,193 3,193
    FNMA PL MA2940 3.5%27 FMV 1,201 1,201
    FNMA PL MA3097 3.5%27 FMV 2,649 2,649
    FNMA PL MA3159 3%27 FMV 1,796 1,796
    FNMA PL MA3221 3%27 FMV 5,453 5,453
    FNMA PL MA3345 3.5%28 FMV 1,572 1,572
    FNMA PL MA3366 3.5%28 FMV 1,441 1,441
    FNMA PL MA3372 4%33 FMV 4,644 4,644
    FNMA PL MA3395 3.5%28 FMV 2,890 2,890
    FNMA PL MA3956 3%35 FMV 2,278 2,278
    FREDDIE MAC 1.378%30 FMV 3,056 3,056
    FREDDIE MAC 1.383%30 FMV 4,078 4,078
    FREDDIE MAC 1.406%30 FMV 3,062 3,062
    FREDDIE MAC 2.206%25 FMV 3,651 3,651
    FREDDIE MAC 2.375% 22 FMV    
    FREDDIE MAC 2.596%49 FMV    
    FREDDIE MAC 3.06%23 FMV 2,124 2,124
    FREDDIE MAC 3.286%27 FMV 2,306 2,306
    FREDDIE MAC 3.3%23 FMV 3,188 3,188
    FREDDIE MAC 3.78%28 FMV 3,536 3,536
    FREDDIE MAC 3.85%28 FMV 3,579 3,579
    FREDDIE MAC 3.854%28 FMV 3,579 3,579
    FREDDIE MAC 3.926%28 FMV 3,601 3,601
    FREDDIE MAC 4.094%24 FMV 3,197 3,197
    GENERAL DYNAMICS 2.375% 24 FMV    
    GENRAL MILLS IN 3.7%23 FMV 3,265 3,265
    HEALTH PEAK PROPE 3.25%26 FMV 3,390 3,390
    HONEYWELL INTL INC FMV 7,870 7,870
    HUNINGTON BANCSH 2.3% 22 FMV    
    INTER-AMERN DE 1.875% 20F FMV    
    INTERCONTINENTAL EX 4%23 FMV 2,194 2,194
    INVESCO PREFERRED ETF FMV    
    ISHARES CORE MSCI EAFE FMV 17,272 17,272
    ISHARES CORE S&P 500 FMV 25,902 25,902
    ISHARES CORE S&P MID CAP FMV 11,491 11,491
    ISHARES CORE S&P SMALL CAP FMV 25,364 25,364
    ISHARES INTERNATIONAL FMV    
    ISHARES MSCI EAFE SMALL CAP FMV 13,670 13,670
    ISHARES SELECT DIVIDEND FMV 8,560 8,560
    ISHS MSCI INTL SML CP FMV 23,489 23,489
    JOHN DEERE OWNER 1.78%21 FMV    
    JOHNSON & JOHNSON FMV 15,738 15,738
    JP MORGAN CHASE & CO FMV 22,237 22,237
    JPMORGAN CHASE & VAR 28 FMV 3,184 3,184
    LOOMIS SAYLES BOND INSTL FMV 54,008 54,008
    LYB INTL FIN III VAR 23 FMV 3,000 3,000
    MAGELLAN MISTRE 3.25%30 FMV 3,362 3,362
    MARSH & MCLENNAN 2.75%22 FMV 3,071 3,071
    MATTHEWS ASIA DIVIDEND I FMV 8,318 8,318
    MCKEESSON CORP 0.9%25 FMV 3,007 3,007
    MDF INTERNATIONAL INTRIN FMV 25,517 25,517
    MFS EMERGING MARKETS DEB FMV 13,096 13,096
    MICROSOFT CORP FMV 44,484 44,484
    MICROSOFT CORP 3.125%25 FMV 3,352 3,352
    MIDAMERICAN ENER 3.65%29 FMV 3,552 3,552
    MOODYS CORP 4.875%24 FMV 3,355 3,355
    MORGAN STANLEY VAR23 FMV 3,004 3,004
    NASDAQ INC 3.85%26 FMV 3,439 3,439
    NIDIA CORP 2.2% 21 FMV    
    NIKE INC 2.4%25 FMV 3,226 3,226
    NORTHERN STATES P 2.6% 23 FMV    
    NOVARTIS CAPITAL CO 2%27 FMV 3,197 3,197
    ORANGE F FMV    
    PAYPAL HOLDINGS 2.3%30 FMV 3,209 3,209
    PFIZER INC FMV 11,043 11,043
    PIMCO INCOME ISNSTL FMV 36,389 36,389
    PRIVATE EXPORT F 2.45%24 FMV 3,211 3,211
    PRIVATE EXPORT F 3.25%25 FMV 6,698 6,698
    PRIVATE EXPORT F 3.55%24 FMV 5,472 5,472
    PRUDENTIAL FINL FMV 3,903 3,903
    QUEST DIAGNOSTIC 2.95%30 FMV 3,298 3,298
    SCHWAB CASH/EQUIVELENTS      
    SHELL INTERNT0.6206%23F FMV 3,007 3,007
    SHELL INTERNTNL F 3.5% 23F FMV    
    STARBUCKS CORP 1%27 FMV 3,182 3,182
    TD AMERITRADE HOL 3.2%27 FMV 3,360 3,360
    TELUS CORP 2.8%27F FMV 3,277 3,277
    THE GOLDMAN SACHS VAR23 FMV 2,994 2,994
    THERMO FISHER SC 4.15%24 FMV 3,317 3,317
    TOYOTA AUTO FIN 2.12%23 FMV 3,030 3,030
    TRINITY ACQUISITI 3.5% 21F FMV    
    TRUIST FINL CORP 2.75% 22 FMV    
    TVA 3.875%21 FMV 3,013 3,013
    US BANCORP 3.95%25 FMV 3,461 3,461
    US TREASURY 1.75% 11/15/29 FMV    
    US TREASURY 2.75% 2/15/24 FMV    
    US TREASURY 2.75% 2/15/28 FMV    
    US TREASURY 2.75% 2/28/25 FMV    
    US TREASURY 3% 10/31/25 FMV    
    US TREASURY 3.125%11/28 FMV 5,917 5,917
    VANECK VECTORS FMV 28,644 28,644
    VANGUARD GLBAL EX US FMV 11,405 11,405
    VANGUARD GNMA FUND FMV    
    VANGUARD HEALTH CARE FMV 11,634 11,634
    VANGUARD HIGH DIVIDEND FMV 27,453 27,453
    VANGUARD INTL DIVIDEND FMV 28,893 28,893
    VANGUARD REAL ESTATE FMV 16,986 16,986
    VANGUARD SHORT-TERM INVE FMV 20,154 20,154
    VANGUARD SMALL CAP FMV 19,272 19,272
    VERIZON OWNER TR 3.23%23 FMV 2,694 2,694
    VIATRIS INC FMV 693 693
    VIRTUS SEIX HIGH INCOME FMV 16,942 16,942
    VISA INC 3.15%25 FMV 2,242 2,242
    WASTE MANAGEMENT 0.75%25 FMV 3,010 3,010
    WILLIS NORTH AME 2.95%29 FMV 3,277 3,277
    WISDOMTREE INTL SMALL CAP FMV    
    WISDOMTREE US SMALL CAP FMV 18,966 18,966
    WORLD OMNI AUTO 3.33%24 FMV 2,587 2,587

    TY 2020 OtherDecreasesSchedule
    Name:
    THE ELBURN SCHOLARSHIP FUND
    EIN:
    36-3366640
    Description Amount
    CHANGES IN FMV -33,993


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE ELBURN SCHOLARSHIP FUND
    EIN:
    36-3366640
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CHARLES SCHWAB FEES 6,567 6,567    


    TY 2020 TaxesSchedule
    Name:
    THE ELBURN SCHOLARSHIP FUND
    EIN:
    36-3366640
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AG 990 FEE 15 15    
    990 ESTIMATES PAID 120 120    
    990 TAXES PAID 185 185    
    FILING FEES 10 10    
    ADR FEES 16 16    
    FOREIGN TAXES 47 47