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
FARM CREDIT FOUNDATION FOR AGRICULTURAL
ADVANCEMENT
Number and street (or P.O. box number if mail is not delivered to street address)45 AILERON COURT
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WESTMINSTER, MD21157
A Employer identification number

81-0945517
B Telephone number (see instructions)

(410) 848-1033
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$6,165,268J 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 59,638 59,638  
4 Dividends and interest from securities... 69,787 69,787  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -132,540
b Gross sales price for all assets on line 6a 3,006,734
7 Capital gain net income (from Part IV, line 2)... 0
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........ -3,115 129,425 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 12,715 0 0 12,715
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 6,500 3,250 0 3,250
c Other professional fees (attach schedule).... Click to see attachment 44,627 32,214 0 12,414
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,277 0 0 25
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 619 0 0 619
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 160 0 0 160
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 68,898 35,464 0 29,183
25 Contributions, gifts, grants paid....... 298,985 298,985
26 Total expenses and disbursements. Add lines 24 and 25 367,883 35,464 0 328,168
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -370,998
b Net investment income (if negative, enter -0-) 93,961
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............. 46,338 10,668 10,668
2 Savings and temporary cash investments......... 150,788 138,203 138,203
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)....... 3,893,440 Click to see attachment3,604,042 4,584,632
c Investments—corporate bonds (attach schedule)....... 1,421,998 Click to see attachment1,388,653 1,431,765
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,512,564 5,141,566 6,165,268
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 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........ 5,512,564 5,141,566
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 5,512,564 5,141,566
30 Total liabilities and net assets/fund balances (see instructions). 5,512,564 5,141,566
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
5,512,564
2
Enter amount from Part I, line 27a .....................
2
-370,998
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
5,141,566
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,141,566
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 PUBLICLY TRADED SECURITIES      
b
c
d
e
(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 3,006,734 0 3,139,274 -132,540
b
c
d
e
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       0
b
c
d
e
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 0
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 0
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 1,306
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 1,306
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 1,306
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 2,145
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,200
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,345
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 7,039
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet7,039 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)
    bulletDE, MD
    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 addressbulletHTTPS://FCFOUNDATIONFORAG.ORG
    14
    The books are in care ofbulletBRIAN ROSATI Telephone no.bullet (410) 848-1033

    Located atbullet45 AILERON COURTWESTMINSTERMD ZIP+4bullet211573022
    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
    WALTER HOPKINS PRESIDENT/BOARD CHAIR (END JUNE 2020)
    2.00     		498 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    ANTHONY ILL VICE CHAIR (END JUNE 2020)/PRESIDENT
    2.00     		2,311 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    KARL BINNS JR DIRECTOR
    2.00     		2,123 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    JOHN WHEELER SECRETARY/TREASURER
    8.00     		5,502 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    PAUL BAUMGARDNER OFFICER
    2.00     		1,725 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    CHERYL STEINBACHER MAFC EMPLOYEE/DIRECTOR
    2.00     		0 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    BRIAN ROSATI MAFC EMPLOYEE/VICE CHAIR(BEG JUNE2020)
    2.00     		0 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    GAIL POFFENBERGER YEISER OFFICER
    2.00     		200 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    CHARLES WRIGHT IV OFFICER
    2.00     		975 0 0
    45 AILERON COURT
    WESTMINSTER,MD21157
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 AWARDED TWENTY-THREE SCHOLARSHIPS TO HIGH SCHOOL AND COLLEGE STUDENTS PLANNING TO PURSUE A CAREER IN THE AGRICULTURE INDUSTRY. 162,500
    2 AWARDED TWELVE SCHOLARSHIPS TO HIGH SCHOOL AGRICULTURE TEACHERS TO PURSUE AN ADVANCED DEGREE OR CONTINUING EDUCATION CREDITS. 86,485
    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.........................bullet0
    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
    5,348,736
    b
    Average of monthly cash balances.......................
    1b
    227,785
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,576,521
    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
    5,576,521
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    83,648
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,492,873
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    274,644
    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
    274,644
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,306
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,306
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    273,338
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    273,338
    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
    273,338
    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
    328,168
    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
     
    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
    328,168
    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
    328,168
    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 7 273,338
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 139,271
    b Total for prior years:2018, 2017, 2016 0
    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........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 328,168
    a Applied to 2019, but not more than line 2a 139,271
    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..... 188,897
    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 ..........     		84,441
    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....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    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:
    JENNY KREISHER
    45 AILERON COURT
    WESTMINSTER,MD21157
    (410) 848-1033
    bThe form in which applications should be submitted and information and materials they should include:
    COLLEGE SCHOLARSHIPS MUST BE SUBMITTED ONLINE ON FOUNDATION'S WEBSITE.
    cAny submission deadlines:
    COLLEGE SCHOLARSHIPS: JANUARY OF EACH AWARD YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDS TO STUDENTS: APPLICANTS MUST RESIDE IN THE MIDATLANTIC FARM CREDIT (MAFC) TERRITORY (SEE BELOW), BE A HIGH SCHOOL SENIOR OR ALREADY ENROLLED IN A TWO OR FOUR YEAR COLLEGE, AND BE PURSUING A CAREER IN AGRICULTURE. MAFC TERRITORY (STATES AND COUNTIES): DE MD (BALTIMORE, CARROLL, CAROLINE, CECIL, DORCHESTER, FREDERICK, HARFORD, HOWARD, KENT, MONTGOMERY, QUEEN ANNE'S, SOMERSET, TALBOT, WASHINGTON, WICOMICO, WORCESTER) PA (BERKS, BUCKS, CARBON, CHESTER, DAUPHIN, DELAWARE, LEBANON, LANCASTER, LEHIGH, MONROE, MONTGOMERY, NORTHAMPTON, PHILADELPHIA, PIKE, SCHUYLKILL) VA (ACCOMACK, CLARKE, FREDERICK, NORTHAMPTON, PAGE, SHENANDOAH, WARREN) WV (BERKELEY, JEFFERSON, MORGAN)
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JENNY KREISHER
    45 AILERON COURT
    WESTMINSTER,MD21157
    (410) 848-1033
    bThe form in which applications should be submitted and information and materials they should include:
    HIGH SCHOOL EDUCATOR AWARDS MUST BE SUBMITTED ONLINE ON FOUNDATION'S WEBSITE.
    cAny submission deadlines:
    HIGH SCHOOL EDUCATOR AWARDS: JANUARY OF EACH AWARD YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDS TO HIGH SCHOOL EDUCATORS: APPLICANTS MUST BE HIGH SCHOOL AGRICULTURE EDUCATORS PLANNING TO PURSUE A MASTERS OR DOCTORATE DEGREE TO FURTHER THEIR EDUCATION, OR TO APPLY TO REQUIRED CONTINUING EDUCATION CREDITS, RESIDE AND TEACH WITHIN MAFC TERRITORY, AND CANNOT BE AN EMPLOYEE OR DIRECTOR OF MAFC, NOR AN IMMEDIATE FAMILY MEMBER OF AN EMPLOYEE OR DIRECTOR OF MAFC. MAFC TERRITORY (STATES AND COUNTIES): DE MD (BALTIMORE, CARROLL, CAROLINE, CECIL, DORCHESTER, FREDERICK, HARFORD, HOWARD, KENT, MONTGOMERY, QUEEN ANNE'S, SOMERSET, TALBOT, WASHINGTON, WICOMICO, WORCESTER) PA (BERKS, BUCKS, CARBON, CHESTER, DAUPHIN, DELAWARE, LEBANON, LANCASTER, LEHIGH, MONROE, MONTGOMERY, NORTHAMPTON, PHILADELPHIA, PIKE, SCHUYLKILL) VA (ACCOMACK, CLARKE, FREDERICK, NORTHAMPTON, PAGE, SHENANDOAH, WARREN) WV (BERKELEY, JEFFERSON, MORGAN)
    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
    4-H THERAPEUTIC RIDING CENTER
    PO BOX 124
    WESTMINSTER,MD21158     		PC PC AGRICULTURAL SCHOLARSHIP 1,955
    CENTER FOR DAIRY EXCELLENCE FOUNDATION OF PENNSYLVANIA - CALVING CORNER
    2301 N CAMERON STREET
    HARRISBURG,PA17110     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    CENTER FOR DAIRY EXCELLENCE FOUNDATION OF PENNSYLVANIA - DAIRY LEADERS OF T
    2301 N CAMERON STREET
    HARRISBURG,PA17110     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    CORNELL UNIVERSITY
    PO BOX 752
    ITHACA,NY14851     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    DAIRY EXCELLENCE FOUNDATION
    2301 NORTH CAMERON STREET SUITE
    4000
    HARRISBURG,PA17110     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    DELAWARE FARM BUREAU FOUNDATION
    3457 SOUTH DUPONT HIGHWAY
    CAMDEN,DE19934     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    FLINT HILL FARMS EDUCAITONAL CENTER
    1922 FLINT HILL ROADS
    COOPERSBURG,PA18036     		PC PC AGRICULTURAL SCHOLARSHIP 7,780
    FRIENDS OF AGRICULTURE FOUNDATION
    501 SOUTH 31 STREET
    CAMP HILL,PA17001     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    IOWA STATE UNIVERISTY OF SCIENCE AND TECHNOLOGY
    1600 SOUTH 16TH STREET
    AMES,IA50011     		PC PC AGRICULTURE EDUCATION 7,500
    IOWA STATE UNIVERSITY OF SCIENCE AND TECH
    2221 WANDA DALEY DRIVE
    AMES,IA50011     		PC PC AGRICULTURAL SCHOLARSHIP 7,500
    IOWA STATE UNIVERSITY
    0210 BEARDSHEAR HALL
    AMES,IA50011     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    KUTZTOWN AREA HIGH SCHOOL
    251 LONG LANE
    KUTZTOWN,PA19530     		PC PC AGRICULTURAL SCHOLARSHIP 3,000
    LANCASTER COUNTY AGRICULTURE
    1383 ARCADIA ROAD
    LANCASTER,PA17601     		PC PC AGRICULTURAL SCHOLARSHIP 5,000
    LORD FAIRFAX COMMUNITY COLLEGE
    173 SKIRMISHER LN
    MIDDLETOWN,VA22645     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    MARYLAND AG EDUCATION FOUNDATION
    403 OAKINGTON ROAD
    HAVRE DE GRACE,MD21078     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    NUFFIELD INTERNATIONAL FARMING
    18890 JOHNSON RD
    LINCOLN,DE199602635     		PC PC AGRICULTURE EDUCATION 20,000
    OHIO STATE UNIVERSITY
    281 W LANE AVENUE
    COLUMBUS,OH43210     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    OREGON STATE UNIVERSITY
    1701 SW WESTERN BOULEVARD
    CORVALLIS,OR97333     		PC PC AGRICULTURE EDUCATION 2,500
    PENN STATE UNIVERSITY
    109 SHIELDS BUILDING
    UNIVERSITY PARK,PA16802     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    PENN STATE UNIVERSITY
    109 SHIELDS BUILDING
    UNIVERSITY PARK,PA16802     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    PENN STATE UNIVERSITY
    109 SHIELDS BUILDING
    UNIVERSITY PARK,PA16802     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    PENNSYLVANIA FUTURE FARMERS OF AMERICA FOUNDATION INC
    PO BOX 157
    EAST BERLIN,PA17316     		PC PC AGRICULTURE EDUCATION 5,000
    SALISBURY UNIVERSITY
    1101 CAMDEN AVE
    SALISBURY,MD21801     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    SALISBURY UNIVERSITY
    1101 CAMDEN AVE
    SALISBURY,MD21801     		PC PC AGRICULTURAL SCHOLARSHIP 2,500
    UC DAVIS SCHOOL OF VET MEDICINE
    2100 DUTTON HALL
    DAVIS,CA95616     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    UNIVERSITY OF DELAWARE
    20 LOVETT AVENUE
    NEWARK,DE19716     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    UNIVERSITY OF FLORIDA
    SUITE 1250 EAST CAMPUS BUILDIN
    GAINESVILLE,FL326113201     		PC PC AGRICULTURE EDUCATION 2,500
    UNIVERSITY OF FLORIDA
    SUITE 1250 EAST CAMPUS OFFICE BLDG
    PO BOX 113201
    GAINESVILLE,FL32611     		PC PC AGRICULTURAL SCHOLARSHIP 2,500
    UNIVERSITY OF MARYLAND
    0102 LEE BUILDING 7809 REGNETS DR
    COLLEGE PARK,MD20742     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    UNIVERSITY OF MARYLAND
    11868 COLLEGE BACKBONE ROAD
    PRINCESS ANNE,MD21853     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    UNIVERSITY OF MISSOURI
    118 UNIVERISTY HALL
    COLUMBIA,MO65211     		PC PC AGRICULTURAL SCHOLARSHIP 2,500
    UNIVERSITY OF MISSOURI
    230 JESSE HALL
    COLUMBIA,MO65211     		PC PC AGRICULTURE EDUCATION 5,000
    UNIVERSITY OF VIRGINIA
    1001 NORTH EMMET STREET
    CHARLOTTESVILLE,VA22904     		PC PC AGRICULTURAL SCHOLARSHIP 2,500
    UNIVERSITY OF VIRGINIA
    1001 NORTH EMMET STREET
    CHARLOTTESVILLE,VA22904     		PC PC AGRICULTURE EDUCATION 2,500
    VIRGINIA 4-H PROGRAM
    902 PRICES FORK ROAD
    BLACKSBURG,VA24061     		PC PC AGRICULTURAL SCHOLARSHIP 1,250
    VIRGINIA FOUNDATION FOR AGRICULTURE IN THE CLASSROOM
    PO BOX 27552
    RICHMOND,VA23261     		PC PC AGRICULTURAL SCHOLARSHIP 7,500
    VIRGINIA TECH
    STUDENT SERVICES BUILDING SUITE 105
    BLACKBURGS,VA21755     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    WEST VIRGINIA UNIVERSITY
    62 MORRILL WAY
    MORGANTOWN,WV26506     		PC PC AGRICULTURAL SCHOLARSHIP 10,000
    WILMINGTON UNIVERSITY
    320 N DUPONT HIGHWAY
    NEW CASTLE,DE19720     		PC PC AGRICULTURAL SCHOLARSHIP 5,000
    WILMINGTON UNIVERSITY
    320 NORTH DUPOINT HIGHWAY
    NEW CASTLE,DE19720     		PC PC AGRICULTURE EDUCATION 5,000
    Total .................................bullet 3a 298,985
    bApproved for future payment
    Total .................................bullet 3b 0
    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 59,638  
    4 Dividends and interest from securities....     14 69,787  
    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 -132,540  
    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).. 0 -3,115 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    -3,115
    (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:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 6,500 3,250 0 3,250

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK TOTAL RETURN- I (MAHQX) PNC 242,213 248,591
    MFS EMERGING MKTS DEBT FD-R6 (MEDHX) PNC 136,809 150,584
    METROPOLITAN WEST UNCONSTRAINED (MWCIX) BOND FUND CLASS I FUND #0518 PNC 127,903 129,077
    PGIM HIGH YIELD FUND (PHYQX) CLASS R6 PNC 117,103 117,528
    VANGUARD TOTAL BD MKT INDX #584 (VBTLX) ADM PNC 525,703 538,097
    WESTERN ASSET CORE PLUS BOND FD (WACPX) CLASS I FD #287 PNC 238,922 247,888

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Name of Stock End of Year Book Value End of Year Fair Market Value
    FERRARI NV - W/I (RACE) SEDOL BZ1GMK5 ISIN NL0011585146 WCM INVESTMENT MANAG 4,191 6,427
    ALIBABA GROUP HOLDING LTD (BABA) ADR SEDOL BP41ZD1 ISN US01609W1027 CAMBIAR 6,503 6,982
    BRIGHT HORIZONS FAMILY SOLUT (BFAM) PRINCIPAL GLOBAL INVESTORS 1,229 1,557
    CARMAX INC (KMX) PRINCIPAL GLOBAL INVESTORS 6,508 8,501
    DOLLAR GENERAL CORP (DG) PRINCIPAL GLOBAL INVESTORS 661 1,472
    DOMINO'S PIZZA, INC. (DPZ) PRINCIPAL GLOBAL INVESTORS 2,496 3,835
    HILTON WORLDWIDE HLDGS- W/O (HLT) PRINCIPAL GLOBAL INVESTORS 5,753 7,899
    HOME DEPOT INC (HD) JENSEN INVESTMENT MGMT 5,712 5,578
    HYATT HOTELS CORP (H) CL A PRINCIPAL GLOBAL INVESTORS 2,101 2,079
    INDUSTRIA DE DISENO TEXTIL IND (IDEXY) ADR CAMBIAR INVESTORS LLC 7,333 8,196
    LVMH MOET HENNESSY LOUIS (LVMUY) ADR WCM INVESTMENT MANAGEMENT 7,624 12,224
    LENNAR CORP (LEN) CLASS A ARISTOTLE CAPITAL MANAGEMENT 6,016 8,766
    LENNAR CORP (LEN) CLASS A PRINCIPAL GLOBAL INVESTORS 2,807 4,116
    LULULEMON ATHLETICA INC (LULU) WCM INVESTMENT MANAGEMENT 5,611 9,049
    MERCADOLIBRE INC (MELI) WCM INVESTMENT MANAGEMENT 5,873 16,752
    NIKE INC (NKE) CLASS B WCM INVESTMENT MANAGEMENT 5,972 6,083
    NIKE INC (NKE) CLASS B JENSEN INVESTMENT MANAGEMENT 6,526 11,318
    O REILLY AUTOMOTIVE INC (ORLY) PRINCIPAL GLOBAL INVESTORS 4,458 7,241
    PROSUS NV- SPON ADR (PROSY) SEDOL BKT6LC7 ISIN US74365P1084 CAMBIAR INVESTOR 5,352 7,787
    RESTAURANT BRANDS INTERN- W/I (QSR) SEDOL BTF8WD8 ISIN CA76131D1033 PRINCIPA 5,087 5,133
    ROSS STORES INC (ROST) PRINCIPAL GLOBAL INVESTORS 1,791 2,579
    SANDS CHINA LTD (SCHYY) UNSPONS ADR CAMBIAR INVESTORS LLC 8,759 8,290
    SONY CORP AMERICAN SHARE NEW (SNE) SPONSORED ADR SRISTOTLE CAPITAL MANAGEMEN 6,096 12,536
    STARBUCKS CORP (SBUX) JENSEN INVESTMENT MGMT 5,256 6,847
    TJX COMPANIES INC NEW (TJX) JENSEN INVESTMENT MGMT 3,471 4,917
    V-F CORP (VFC) JENSEN INVESTMENT MGMT 3,773 4,014
    VAIL RESORTS INC (MTN) PRINCIPAL GLOBAL INVESTORS 4,701 5,300
    YUM CHINA HOLDINGS INC- W/I (YUMC) CAMBIAR INVESTORS LLC 4,532 4,796
    BROWN FORMAN CORP CLASS B (BFB) PRINCIPAL GLOBAL INVESTORS 1,064 1,669
    CARLSBERG AS (CABGY) SPON ADR CAMBIAR INVESTORS LLC 5,323 6,040
    COCA COLA CO (KO) ARISTOTLE CAPITAL MANAGEMENT 7,156 8,994
    DANONE (DANOY) SPONS ADR CAMBIAR INVESTORS LLC 5,941 4,729
    GENERAL MILLS INC (GIS) JENSEN INVESTMENT MGMT 7,627 8,173
    KONINKLIJKE AHOLD DELAHAIZE ADR (ADRNY) SEDOL BD9FL92 ISIN US5004675014 CAMB 3,633 4,657
    NESTLE S.A. (NSRGY) SPONSORED ADR REPSTG REG SH WCM INVESTMENT MANAGEMENT 8,172 8,835
    PEPSICO INC (PEP) JENSEN INVESTMENT MGMT 14,505 16,461
    PERNOD RICARD SA (PDRDY) UNSPONSORED ADR CAMBIAR INVESTORS LLC 6,256 8,245
    PERNOD RICARD SA (PDRDY) UNSPONSORED ADR WCM INVESTMENT MANAGEMENT 5,251 5,829
    PROCTER & GAMBLE CO (PG) ARISTOTLE CAPITAL MANAGEMENT 7,577 7,653
    PROCTER & GAMBLE CO (PG) JENSEN INVESTMENT MGMT 4,071 4,870
    RECKITT BENCKISER- SPON ADR (RBGLY) ADR SEDOL B93K0B0 ISIN US7562552049 CAMB 4,082 4,729
    TYSON FOODS INC (TSN) CLASS A ARISTOTLE CAPITAL MANAGEMENT 7,444 5,800
    WALGREENS BOOTS ALLIANCE INC (WBA) ARISTOTLE CAPITAL MANAGEMENT 4,598 2,991
    CABOT OIL & GAS CORP COM (COG) ARISTOTLE CAPITAL MANAGEMENT 6,734 6,024
    PHILLIPS 66 (PSX) ARISTOTLE CAPITAL MANAGEMENT 5,473 4,476
    PIONEER NAT RES CO (PXD) ARISTOTLE CAPITAL MANAGEMENT 5,036 3,075
    AON PLC/IRELAND-A (AON) SEDOL BLP1HW5 ISIN IE00BLPP1HW54 PRINCIPAL GLOBAL IN 1,548 2,324
    AON PLC/IRELAND-A (AON) SEDOL BLP1HW5 ISIN IE00BLPP1HW54WCM INVESTMENT MANAG 5,132 5,282
    ARCH CAPITAL GROUP LTD (ACGL) SEDOL 2740542 ISIN BMG0450A1053 PRINCIPAL GLOB 3,308 4,401
    CHUBB LTD (CB) SEDOL B3BQMF6 ISIN CH0044328745 ARISTOTLE CAPITAL MANAGEMENT 4,701 5,541
    AIA GROUP LTD (AAGIY) SPONSORED ADR CAMBIAR INVESTORS LLC 4,705 6,240
    AIA GROUP LTD (AAGIY) SPONSORED ADR WCM INVESTMENT MANAGEMENT 11,404 14,886
    AMERIPRISE FINANCIAL INC (AMP) ARISTOTLE CAPITAL MANAGEMENT 6,041 8,162
    BOK FINL CORP (BOKF) NEW ARISTOTLE CAPITAL MANAGEMENT 3,620 2,534
    BROOKFIELD ASSET MANAGEMENT CL A (BAM) ISIN CA1125851040 SEDOL 2092555 PRINC 8,778 13,248
    BROWN & BROWN INC (BRO) PRINCIPAL GLOBAL INVESTORS 2,483 4,172
    CANNAE HOLDINGS INC (CNNE) PRINCIPAL GLOBAL INVESTORS 527 665
    CAPITAL ONE FINANCIAL CORP (COF) ARISTOTLE CAPITAL MANAGEMENT 4,560 5,634
    CINCINNATI FINANCIAL CORP (CINF) ARISTOTLE CAPITAL MANAGEMENT 6,128 6,378
    COMMERCE BANCSHARES INC (CBSH) ARISTOTLE CAPITAL MANAGEMENT 4,037 4,665
    CREDIT ACCEPTANCE CORPORATION (CACC) PRINCIPAL GLOBAL INVESTORS 4,557 4,154
    CULLEN FROST BANKERS INC (CFR) ARISTOTLE CAPITAL MANAGEMENT 3,958 3,053
    DBS GROUP HLDGS LTD (DBSDY) SPONSORED ADR CAMBIAR INVESTORS LLC 5,550 6,160
    DNB ASA-SPONSOR ADR (DNHBY) ADR SEDOL B59G6H2 ISIN US23328E1064 CAMBIAR INVE 4,966 6,040
    DEUTSCHE BOERSE AG (DBOEY) UNSPN ADR CAMBIAR INVESTORS LLC 4,596 5,307
    EAST WEST BANCORP INC (EWBC) ARISTOTLE CAPITAL MANAGEMENT 6,490 4,767
    FNF GROUP-W/I (FNF) PRINCIPAL GLOBAL INVESTORS 3,849 4,026
    FIRST REPUBLIC BANK/FRAN (FRC) PRINCIPAL GLOBAL INVESTORS 1,791 2,645
    HDFC BANK LTD (HDB) SPON - ADR WCM INVESTMENT MANAGEMENT 9,597 12,212
    JPMORGAN CHASE & CO (JPM) ARISTOTLE CAPITAL MANAGEMENT 6,442 7,878
    JULIS BAER GROUP LTD (JBAXY) UN SPON ADR CAMBIAR INVESTORS LLC 3,525 5,433
    KBC GROEP NV (KBCSY) UNSP ADR CAMBIAR INVESTORS LLC 4,492 5,024
    KKR & CO INC (KKR) CLASS A PRINCIPAL GLOBAL INVESTORS 5,829 8,786
    M&T BK CORP (MTB) PRINCIPAL GLOBAL INVESTORS 1,396 1,018
    MSCI INC (MSCI) PRINCIPAL GLOBAL INVESTORS 1,173 3,126
    MARKEL CORP (HOLDING CO) (MKL) PRINCIPAL GLOBAL INVESTORS 7,733 7,233
    MITSUBISHI UFJ FINL GRP ADR (MUFG) ARISTOTLE CAPITAL MANAGEMENT 4,837 3,646
    MOODY'S CORP (MCO) PRINCIPAL GLOBAL INVESTORS 1,729 2,902
    NORDEA BANK ABP - SPON ADR (NRDBY) ADR SEDOL BGT1Q96 ISIN US65558R1095 CAMBI 3,780 5,140
    PROGRESSIVE CORP OHIO (PGR) PRINCIPAL GLOBAL INVESTORS 1,334 2,175
    S&P GLOBAL INC (SPGI) PRINCIPAL GLOBAL INVESTORS 821 1,315
    ZURICH INS GROUP LTD (ZURVY) ADR CAMBIAR INVESTORS LLC 4,901 5,404
    ICON PLC (ICLR) SEDOL B94G471 ISIN IE0005711209 WCM INVESTMENT MANAGEMENT 3,354 4,290
    MEDTRONIC PLC (MDT) SEDOL BTN1Y11 ISIN IE00BTN1Y115 ARISTOTLE CAPITAL MANAGE 7,352 9,957
    STERIS PLC (STE) SEDOL BFY8C75 ISIN IE00BFY8C754 WCM INVESTMENT MANAGEMENT 6,217 7,771
    ALCON INC (ALC) SEDOL BJXBP41 ISIN CH0432492467 ARISTOTLE CAPITAL MANAGEMENT 6,677 7,786
    ALCON INC (ALC) SEDOL BJXBP41 ISIN CH0432492467 WCM INVESTMENT MANAGEMENT 7,127 8,182
    AGILENT TECHNOLOGIES (IPO) (A) PRINCIPAL GLOBAL INVESTORS 806 829
    AMGEN INC (AMGN) ARISTOTLE CAPITAL MANAGEMENT 8,754 10,806
    BECTON DICKINSON & CO (BDX) JENSEN INVESTMENT MGMT 13,802 14,012
    CSL LTD-SPONSORED ADR (CSLLY) ADR SEDOL BN5TD14 ISIN US12637N2045 WCM INVEST 9,120 12,888
    DANAHER CORP (DHR) ARISTOTLE CAPITAL MANAGEMENT 7,657 16,883
    ELANCO ANIMAL HEALTH INC (ELAN) ARISTOTLE CAPITAL MANAGEMENT 4,893 7,330
    IDEXX LABS INC (IDXX) PRINCIPAL GLOBAL INVESTORS 1,831 4,499
    JOHNSON & JOHNSON (JNJ) JENSEN INVESTMENT MGMT 12,004 14,322
    KONINKLIJKE PHILLIPS NV (PHG) SPON ADR CAMBIAR INVESTORS LLC 4,874 5,254
    LONZA GROUP AG (LZAGY) UNSPON ADR WCM INVESTMENT MANAGEMENT 8,234 8,523
    MERCK KGAA-SPONSORED ADR (MKKGY) SEDOL ISIN US5893392093 CAMBIAR INVESTORS L 6,370 8,386
    METTLER TOLEDO INTL INC (MTD) PRINCIPAL GLOBAL INVESTORS 2,264 4,559
    METTLER TOLEDO INTL INC (MTD) WCM INVESTMENT MANAGEMENT 4,692 7,978
    NOVARTIS AG (NVS) SPONSORED ADR ARISTOTLE CAPITAL MANAGEMENT 5,261 7,554
    PFIZER INC (PFE) JENSEN INVESTMENT MGMT 7,957 8,834
    RESMED INC (RMD) WCM INVESTMENT MANAGEMENT 6,734 10,841
    ROCHE HOLDING LTD SPONSORED ADR (RHHBY) CAMBIAR INVESTORS LLC 3,774 4,779
    SANOFI SPONSORED ADR (SNY) CAMBIAR INVESTORS LLC 5,312 5,102
    SMITH & NEPHEW P/C (SNN) SPON ADR CAMBIAR INVESTORS LLC 5,112 4,765
    SMITH & NEPHEW P/C (SNN) SPON ADR WCM INVESTMENT MANAGEMENT 8,479 7,464
    STRYKER CORP (SYK) JENSEN INVESTMENT MGMT 10,336 12,252
    UCB SA - UNSPONSORED ADR (UCBJY) ADR SEDOL B4YDXH0 ISIN US9034801012 CAMBIAR 5,451 4,731
    UNITEDHEALTH GROUP INC (UNH) JENSEN INVESTMENT MGMT 8,066 11,572
    ALLEGION PLC (ALLE) SEDOL BFRT3W7 ISIN IE00BFRT3W74 ARISTOTLE CAPITAL MANAGE 6,750 7,448
    IHS MARKIT LTD (INFO) SEDOL BD0Q558 ISIN BMG475671050 PRINCIPAL GLOBAL INVES 2,389 4,222
    JOHNSON CTLS INTL PLC (JCI) SEDOL BY7QL61 ISIN IE00BY7QL619 ARISTOTLE CAPITA 5,379 7,268
    ADECCO GROUP SA (AHEXY) CAMBIAR INVESTORS LLC 5,233 5,523
    AIRBUS SE (EADSY) ADR CAMBIAR INVESTORS LLC 6,605 5,710
    ATLAS COPCO AB (ATLKY) SPONSORED ADR NEW REPSTG COM WCM INVESTMENT MANAGEMEN 4,377 8,071
    BAE SYSYTEMS PLC (BAESY) SPONSORED ADR CAMBIAR INVESTORS LLC 4,039 4,100
    BRAMBLES LTD-SPONSORED ADR (BXBLY) ADR SEDOL BYM1B61 ISIN US1051052090 CAMBI 4,630 5,096
    CANADIAN PACIFIC RAILWAY LTD (CP) SEDOL 2793115 ISIN CA13645T1003 WCM INVEST 8,421 12,481
    COLFAX CORP (CFX) PRINCIPAL GLOBAL INVESTORS 846 1,071
    COMPAGNIE DE SAINT-UNSP ADR (CODYY) ADR SEDOL B3K9YH2 ISIN US2042803096 CAMB 5,373 5,840
    COPART INC (CPRT) PRINCIPAL GLOBAL INVESTORS 4,211 9,417
    COSTAR GROUP INC (CSGP) PRINCIPAL GLOBAL INVESTORS 4,857 6,470
    DEUTSCHE POST AG (DPSGY) SPON ADR ISIN US25157Y2028 SEDOL B41F04 CAMBIAR INV 5,766 8,024
    DSV PANALPINA A/S (DSDVY) ADR SEDOL B3FP4L9 ISIN US26251A1088 WCM INVESTMENT 6,137 10,839
    EQUIFAX INC (EFX) JENSEN INVESTMENT MGMT 3,366 5,207
    EXPERIAN PLC (EXPGY) SPON ADR WCM INVESTMENT MANAGEMENT 9,745 12,261
    FANUC CORP ADR (FANUY) CAMBIAR INVESTORS LLC 3,513 5,185
    FASTENAL CO (FAST) PRINCIPAL GLOBAL INVESTORS 2,266 4,004
    GENERAL DYNAMICS CORP (GD) ARISTOTLE CAPITAL MANAGEMENT 7,019 5,358
    HEICO CORP NEW (HEIA) CL A PRINCIPAL GLOBAL INVESTORS 2,405 3,746
    HONEYWELL INTL INC (HON) ARISTOTLE CAPITAL MANAGEMENT 6,536 8,933
    KOMATSU LTD (KMTUY) SPON ADR CAMBIAR INVESTORS LLC 5,385 5,675
    OSHKOSH CORPORATION (OSK) CLASS B ARISTOTLE CAPITAL MANAGEMENT 5,716 6,886
    PARKER HANNIFIN CORP (PH) ARISTOTLE CAPITAL MANAGEMENT 5,046 8,717
    ROPER TECHNOLOGIES INC (ROP) PRINCIPAL GLOBAL INVESTORS 3,626 5,604
    SIEMENS AG (SIEGY) SPON ADR CAMBIAR INVESTORS LLC 8,087 8,399
    3M COMPANY (MMM) JENSEN INVESTMENT MGMT 11,338 12,410
    TRANSDIGM GROUP INC (TDG) PRINCIPAL GLOBAL INVESTORS 7,787 14,234
    TRANSUNION (TRU) PRINCIPAL GLOBAL INVESTORS 3,096 4,564
    UNITED PARCEL SERVICE CL B (UPS) JENSEN INVESTMENT MGMT 3,700 5,557
    VERISK ANALYTICS INC (VRSK) PRINCIPAL GLOBAL INVESTORS 2,389 4,567
    WASTE MANAGEMENT INC (WM) JENSEN INVESTMENT MGMT 3,059 3,184
    XYLEM INC (XYL) ARISTOTLE CAPITAL MANAGEMENT 7,040 8,651
    ACCENTURE PLC CLASS A (ACN) SEDOL B4BNMY3 ISIN IE00B4BNMY34 WCM INVESTMENT M 8,276 11,493
    ACCENTURE PLC CLASS A (ACN) SEDOL B4BNMY3 ISIN IE00B4BNMY34 JENSEN INVESTMEN 8,647 12,016
    WIX.COM LTD (WIX) SEDOL BFZCHN7 ISIN IL0011301780 PRINCIPAL GLOBAL INVESTORS 2,654 6,999
    ASML HOLDING NV-NY (ASML) SEDOL B908F01 ISIN USN070592100 CAMBIAR INVESTORS 2,294 5,365
    ASML HOLDING NV-NY (ASML) SEDOL B908F01 ISIN USN070592100 WCM INVESTMENT MAN 6,322 14,144
    ADOBE INC (ADBE) ARISTOTLE CAPITAL MANAGEMENT 7,256 14,503
    ADYEN NV-UNSPON ADR (ADYEY) SEDOL BJXK4M9 ISIN US00783V1044 WCM INVESTMENT M 6,219 7,378
    AMADEUS IT GROUP S A (AMADY) ADR CAMBIAR INVESTORS LLC 2,707 2,780
    AMADEUS IT GROUP S A (AMADY) ADR WCM INVESTMENT MANAGEMENT 8,192 8,265
    ANSYS INC (ANSS) ARISTOTLE CAPITAL MANAGEMENT 6,782 14,188
    ANSYS INC (ANSS) PRINCIPAL GLOBAL INVESTORS 2,930 6,185
    APPLE INC (AAPL) JENSEN INVESTMENT MGMT 5,069 12,473
    AUTODESK INC (ADSK) PRINCIPAL GLOBAL INVESTORS 4,140 9,160
    AUTOMATIC DATA PROCESSING INC (ADP) JENSEN INVESTMENT MGMT 5,582 6,343
    BLACK KNIGHT INC-WHEN ISSUED (BKI) PRINCIPAL GLOBAL INVESTORS 4,646 7,775
    BROADRIDGE FINANCIAL SOL (BR) W/I JENSEN INVESTMENT MGMT 4,994 6,128
    CAPGEMINI SE - UNSPONSOR ADR (CGEMY) SEDOL BF0ZJQ8 ISIN US13961R1005 CAMBIAR 4,269 5,580
    COGNEX CORP (CGNX) PRINCIPAL GLOBAL INVESTORS 347 642
    COGNIZANT TECHNOLOGY SOLUTIONS (CTSH) JENSEN INVESTMENT MGMT 6,733 9,015
    GARTNER INC (IT) PRINCIPAL GLOBAL INVESTORS 4,654 5,446
    GUIDEWIRE SOFTWARE INC (GWRE) PRINCIPAL GLOBAL INVESTORS 3,709 4,763
    HITACHI LTD (HTHIY) ADR 10 COMMON CAMBIAR INVESTORS LLC 4,849 5,637
    INTUIT SOFTWARE (INTU) JENSEN INVESTMENT MGMT 6,194 8,737
    MASTERCARD INC CL A (MA) JENSEN INVESTMENT MGMT 4,841 6,425
    MICROSOFT CORP (MSFT) ARISTOTLE CAPITAL MANAGEMENT 6,441 14,235
    MICROSOFT CORP (MSFT) JENSEN INVESTMENT MGMT 10,790 17,349
    MICROCHIP TECHNOLOGY INC (MCHP) ARISTOTLE CAPITAL MANAGEMENT 7,109 10,082
    MICROCHIP TECHNOLOGY INC (MCHP) PRINCIPAL GLOBAL INVESTORS 3,909 5,386
    MOTOROLA SOLUTIONS INC (MSI) PRINCIPAL GLOBAL INVESTORS 2,394 3,061
    MURATA MFG CO LTD ADR (MRAAY) UNSPON ADR ISIN US6264251025 SEDOL B3K81D4 CAM 2,622 5,550
    PAYPAL HOLDINGS INC-W/I (PYPL) ARISTOTLE CAPITAL MANAGEMENT 3,377 9,368
    QUALCOMM (QCOM) ARISTOTLE CAPITAL MANAGEMENT 5,902 11,730
    REALPAGE, INC. (RP) PRINCIPAL GLOBAL INVESTORS 2,970 4,362
    SAP SE SPONSORED ADR (SAP) CAMBIAR INVESTORS LLC 5,500 6,128
    SHOPIFY INC - A (SHOP) SEDOL BXDZ9Z0 ISIN CA82509L1076 WCM INVESTMENT MANAGE 2,795 9,056
    SLACK TECHNOLOGIES INC- CL A (WORK) PRINCIPAL GLOBAL INVESTORS 1,652 2,154
    SQUARE INC - A (SQ) PRINCIPAL GLOBAL INVESTORS 561 1,959
    TAIWAN SEMICONDUCTOR MTG CO (TSM) ADR CAMBIAR INVESTORS LLC 2,921 5,997
    TAIWAN SEMICONDUCTOR MTG CO (TSM) ADR WCM INVESTMENT MANAGEMENT 6,585 17,774
    TEMENOS AG ADR (TMSNY) SEDOL B96QTM9 ISIN US87974R2085 CAMBIAR INVESTORS LLC 6,015 5,806
    TEXAS INSTRUMENTS INC (TXN) JENSEN INVESTMENT MGMT 4,014 5,416
    TYLER TECHNOLOGIES INC (TYL) PRINCIPAL GLOBAL INVESTORS 2,443 3,056
    VERISIGN INC (VRSN) PRINCIPAL GLOBAL INVESTORS 3,803 5,843
    AIR LIQUIDE (AIQUY) ADR CAMBIAR INVESTORS LLC 4,575 4,966
    AIR PRODUCTS & CHEMICALS INC (APD) PRINCIPAL GLOBAL INVESTORS 1,092 1,913
    ANGLO AMERICAN PLC-SPONS ADR (NGLOY) ADR SEDOL BYYWFP9 ISIN US03485P3001 CAM 6,463 8,534
    CORTEVA INC-W/I (CTVA) ARISTOTLE CAPITAL MANAGEMENT 6,477 8,906
    MARTIN MARIETTA MATLS INC (MLM) ARISTOTLE CAPITAL MANAGEMENT 6,354 7,951
    MARTIN MARIETTA MATLS INC (MLM) PRINCIPAL GLOBAL INVESTORS 2,785 3,976
    RPM INTERNATIONAL INC (RPM) ARISTOTLE CAPITAL MANAGEMENT 6,676 7,898
    SIKA AG-BR-ADR (SXYAY) ADR SEDOL B98D285 ISIN US82674R1032 WCM INVESTMENT MA 5,223 7,597
    SUMMIT MATERIALS INC -CL A (SUM) PRINCIPAL GLOBAL INVESTORS 1,150 1,285
    VULCAN MATERIALS CO (VMC) PRINCIPAL GLOBAL INVESTORS 5,840 7,267
    BROOKFIELD PPTY REIT INC (BPYU) PRINCIPAL GLOBAL INVESTORS 772 568
    CBRE GROUP INC (CBRE) PRINCIPAL GLOBAL INVESTORS 4,547 6,021
    EQUINIX INC (EQIX) PRINCIPAL GLOBAL INVESTORS 1,574 2,857
    EQUITY LIFESTYLE PROPERTIES (ELS) REIT ARISTOTLE CAPITAL MANAGEMENT 2,833 3,738
    HOWARD HUGHES CORP THE-W I (HHC) PRINCIPAL GLOBAL INVESTORS 3,563 2,447
    KENNEDY WILSON HOLDINGS INC (KW) PRINCIPAL GLOBAL INVESTORS 1,584 1,485
    SBA COMMUNICATIONS CORP (SBAC) PRINCIPAL GLOBAL INVESTORS 4,561 8,182
    SUN CMNTYS INC (SUI) ARISTOTLE CAPITAL MANAGEMENT 2,786 4,102
    VORNADO REALTY TRUST (VNO) PRINCIPAL GLOBAL INVESTORS 765 597
    ALPHABET INC/CA-CL A (GOOGL) JENSEN INVESTMENT MGMT 10,496 15,774
    LIBERTY BROADBAND-A (LBRDA) PRINCIPAL GLOBAL INVESTORS 800 1,733
    LIBERTY BROADBAND-C (LBRDK) PRINCIPAL GLOBAL INVESTORS 3,827 7,443
    LIBERTY SIRIUSXM (LSXMA) SERIES A PRINCIPAL GLOBAL INVESTORS 782 734
    LIBERTY SIRIUSXM (LSXMK) SERIES C PRINCIPAL GLOBAL INVESTORS 1,993 2,045
    LIBERTY FORMULA ONE (FWONK) SERIES C PRINCIPAL GLOBAL INVESTORS 2,077 2,726
    LIBERTY FORMULA ONE (FWONA) SERIES A PRINCIPAL GLOBAL INVESTORS 188 228
    LIVE NATION ENTERTAINMENT INC (LYV) PRINCIPAL GLOBAL INVESTORS 2,883 4,335
    TENCENT HOLDINGS LTD (TCEHY) UNSPON ADR WCM INVESTMENT MANAGEMENT 4,840 8,411
    TWITTER INC (TWTR) ARISTOTLE CAPITAL MANAGEMENT 5,479 8,610
    BROOKFIELD INFRASTRUCTURE-A (BIPC) SEDOL BJP50C4 ISIN CA11275Q1072 PRINCIPAL 2,395 4,193
    BROOKFIELD RENEWABLE COR CL-A (BEPC) SEDOL BMW8YT2 ISIN CA11284V1058 PRINCIP 263 408
    ENEL SPA (ENLAY) ADR CAMBIAR INVESTORS LLC 3,976 5,735
    RWE AG (RWEOY) SPONSORED ADR REPSTG ORD PAR CAMBIAR INVESTORS LLC 3,577 5,390
    INVESCO QQQ TRUST (QQQ) ETF PNC 156,730 199,225
    ISHARES CORE S&P SMALL CAP ETF (IJR) PNC 334,142 418,972
    REAL ESTATE SELECT SECT SPDR (XLRE) ETF PNC 143,946 163,131
    VANGUARD MID CAP (VO) ETF PNC 220,862 276,038
    WISDOMTREE U.S. QUALITY DIVI (DGRW) ETF PNC 152,766 166,952
    FEDERATED HERMES INTERNATIONAL (PEIRX) EQUITY FUND PNC 214,809 259,939
    FIDELITY 500 INDEX FD-AI (FXAIX) PNC 582,628 764,526
    SEAFARER OVERSEAS GROWTH & (SIGIX) INCOME INSTL CLASS FD # 11602 PNC 133,778 172,744
    OAKMARK INTL SM CAP-INST (OANEX) #2888 PNC 74,265 86,293
    LAZARD GLOBAL LISTED (GLIFX) INFRASTRUCTURE PORTFOLIO FUND# 1243 PNC 298,200 288,249
    TOUCHSTONE SANDS EM GR-INST (TSEGX) FUND# 565 PNC 123,031 206,070
    WASATCH INTL OPPORTUNIT-INST (WIIOX) PNC 86,485 126,715

    TY 2020 OtherExpensesSchedule
    Name:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PNC BANK FEES 160 0 0 160
      0 0 0 0


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 32,214 32,214 0 0
    SURVEY MONKEY 9,600 0 0 9,600
    REDWHOOSH PRODUCTIONS 2,813 0 0 2,814


    TY 2020 TaxesSchedule
    Name:
    FARM CREDIT FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    81-0945517
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DELAWARE FRANCHISE TAX 25 0 0 25
    FEDERAL EXCISE TAX 4,252 0 0 0