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
BERNARD & AUDRE RAPOPORT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5400 BOSQUE BLVD NO 302
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WACO, TX76710
A Employer identification number

74-2479712
B Telephone number (see instructions)

(254) 741-0510
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$61,881,361J Accounting method:
modified accrual
(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) 32,700
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,075,242 1,075,242  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 486,594
b Gross sales price for all assets on line 6a 8,323,433
7 Capital gain net income (from Part IV, line 2)... 486,594
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 44,869 0  
12 Total. Add lines 1 through 11........ 1,639,405 1,561,836  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 220,420 44,084   176,336
14 Other employee salaries and wages...... 145,000 29,000   116,000
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 1,520 0   1,520
b Accounting fees (attach schedule)....... Click to see attachment 36,558 0   0
c Other professional fees (attach schedule).... Click to see attachment 189,956 189,956   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 63,935 29,099   18,261
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 39,127 0   39,127
21 Travel, conferences, and meetings....... 717 0   717
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 204,861 24,200   145,583
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 902,094 316,339   497,544
25 Contributions, gifts, grants paid....... 1,978,642 2,043,641
26 Total expenses and disbursements. Add lines 24 and 25 2,880,736 316,339   2,541,185
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,241,331
b Net investment income (if negative, enter -0-) 1,245,497
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............. -1    
2 Savings and temporary cash investments......... 728,748 418,517 418,517
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.......... 15,490 16,387 16,387
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).......... 56,007,160 Click to see attachment61,403,072 61,403,082
14 Land, buildings, and equipment: basis bullet27,952
Less: accumulated depreciation (attach schedule) bullet27,952      
15 Other assets (describe bullet) Click to see attachment53,928 Click to see attachment43,375 Click to see attachment43,375
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 56,805,325 61,881,351 61,881,361
Liabilities 17 Accounts payable and accrued expenses.......... 2,850 4,750
18 Grants payable................. 375,630 195,000
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) Click to see attachment19,110,332 Click to see attachment20,667,269
23 Total liabilities (add lines 17 through 22)......... 19,488,812 20,867,019
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........... 24,233,495 26,746,347
25 Net assets with donor restrictions............ 13,083,018 14,267,985
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)..... 37,316,513 41,014,332
30 Total liabilities and net assets/fund balances (see instructions). 56,805,325 61,881,351
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
37,316,513
2
Enter amount from Part I, line 27a .....................
2
-1,241,331
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
6,703,494
4
Add lines 1, 2, and 3 ..........................
4
42,778,676
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1,764,344
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
41,014,332
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 SHORT TERM SALES P    
b PUBLICLY TRADED SECURITIES LONG TERM SALES      
c LONG TERM CAPITAL GAIN DISTRIBUTIONS      
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 1,841,133   1,842,674 -1,541
b 6,469,301   5,994,165 475,136
c 12,999     12,999
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       -1,541
b       475,136
c       12,999
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 2 486,594
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 17,312
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 17,312
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 17,312
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 12,765
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 18,765
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 58
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,395
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet1,395 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)
    bulletTX
    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 addressbulletRAPOPORTFDN.ORG
    14
    The books are in care ofbulletTHE ORGANIZATION Telephone no.bullet (254) 741-0510

    Located atbullet5400 BOSQUE BLVD SUITE 302WACOTX ZIP+4bullet76710
    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
     
     
    .........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
    DR RONALD RAPOPORT CHAIRMAN, TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MRS PATRICIA RAPOPORT TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    AMBASSADOR LYNDON OLSON JR TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MR WILLIAM A NESBITT SEC., TREAS., TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    DR JOEL SCHWARTZ TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    DR JAMES CHESNEY TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    DR RICK BATTISTONI TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MS EMILY RAPOPORT TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MR TOM STANTON EXECUTIVE DIRECTOR
    40.00     		220,420 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MR MARK HOBBS TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    MRSREBECCA A RAPOPORT-BAKER TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    SAMUEL BAKER TRUSTEE
    3.50     		11,000 0 0
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    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
    UBS FINANCIAL SERVICES INC INVESTMENT ADVICE 189,956
    100 CRESCENT CT SUITE 400
    DALLAS,TX75201
    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 DISTRIBUTIONS WERE MADE TO ORGANIZATIONS QUALIFYING UNDER IRC SEC. 501(C)(3) TO FURTHER THEIR PURPOSES OF EDUCATION AND RESEARCH 2,034,271
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................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
    54,718,585
    b
    Average of monthly cash balances.......................
    1b
    466,127
    c
    Fair market value of all other assets (see instructions)................
    1c
    60,351
    d
    Total (add lines 1a, b, and c).........................
    1d
    55,245,063
    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
    55,245,063
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    828,676
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    54,416,387
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,720,819
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,720,819
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    17,312
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    17,312
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,703,507
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    24,500
    5
    Add lines 3 and 4............................
    5
    2,728,007
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,728,007
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    2,541,185
    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
    2,541,185
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,541,185
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 2,728,007
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 333,355
    b From 2016...... 185,545
    c From 2017...... 472,964
    d From 2018...... 285,278
    e From 2019...... 458,499
    fTotal of lines 3a through e........ 1,735,641
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,541,185
    a Applied to 2019, but not more than line 2a 0
    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..... 2,541,185
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 186,822 186,822
    (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 1,548,819
    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 ..........     		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) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		146,533
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		1,402,286
    10 Analysis of line 9:
    a Excess from 2016.... 185,545
    b Excess from 2017.... 472,964
    c Excess from 2018.... 285,278
    d Excess from 2019.... 458,499
    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).)
    DR RONALD RAPOPORT
    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:
    TOM STANTON
    5400 BOSQUE BLVD SUITE 302
    WACO,TX76710
    (254) 741-0510
    bThe form in which applications should be submitted and information and materials they should include:
    WRITTEN APPLICATION WITH IRS DETERMINATION LETTER
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    MUST BE A 501(C)(3) ORGANIZATION. NO OTHER RESTRICTIONS APPLY.
    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
    ALLIANCE FOR JUSTICE
    11 DUPONT CIRCLE NW 2ND FLOOR
    WASHINGTON,DC20036     		NONE 501(C)(3) SUPPORT FOR ADVOCACY AND MOBILIZATION OF THE TEXAS NONPROFIT COMMUNITY 50,000
    CARITAS OF WACO
    300 SOUTH 15TH
    WACO,TX76701     		NONE 501(C)(3) FUNDING SALARY SUPPORT FOR A NEW POSITION OF CASE MANAGER 70,998
    CENTER FOR PUBLIC POLICY PRIORITIES
    7020 EASY WIND DR SUITE 200
    AUSTIN,TX78752     		NONE 501(C)(3) GENERAL OPERATIONAL SUPPORT 75,000
    COMMUNITIES FOUNDATION OF TX (TEGAC)
    5500 CARUTH LANE
    DALLAS,TX75227     		NONE 501(C)(3) GENERAL SUPPORT TEGAC 30,000
    CREATIVE WACO
    PO BOX 1104
    WACO,TX76703     		NONE 501(C)(3) SUPPORT OF THE ARTPRENTICESHIP 2019 PROJECT 15,000
    DEMOCRACY WORKS
    20 JAY STREET STE 824
    BROOKLYN,NY11201     		NONE 501(C)(3) FUNDING SUPPORT FOR THE TURBOVOTE ONLINE PLATFORM 50,000
    ECONOMIC POLICY INSTITUTE
    1333 H ST NW 300
    WASHINGTON,DC20005     		NONE 501(C)(3) FUNDING SUPPORT FOR A SECOND YEAR RAPOPORT POST COLLEGIATE FELLOWSHIP 25,000
    FAMILY HEALTH CENTER
    1600 PROVIDENCE DR
    WACO,TX76707     		NONE 501(C)(3) FUNDRAISER TICKET PURCHASE, TICKETS GIVEN BACK TO ORGANIZATION TO RE-SELL 128,600
    GIRL SCOUNTS OF CENTRAL TX
    12012 PARK THIRTY-FIVE CIRCLE
    AUSTIN,TX78753     		NONE 501(C)(3) FUNDING SUPPORT FOR THE CREATION OF A NEW EDGE TECHNOLOGY CENTER 18,750
    HEART OF TEXAS MHMR
    110 S 12TH STREET
    WACO,TX767030890     		NONE 501(C)(3) SALARY, BENEFITS AND PROGRAMMATIC NEEDS OF THE BHLT PROGRAM MANAGER 100,000
    HEART OF TEXAS SPECIAL OLYMPICS
    6801 SANGER AVE STE 101
    WACO,TX76710     		NONE 501(C)(3) GENERAL PROGRAMMATIC NEEDS 10,000
    JERUSALEM FOUNDATION
    420 LEXINGTON AVE SUITE 1645
    NEW YORK,NY10170     		NONE 501(C)(3) SUPPORT OF CONSTRUCTIONS COSTS FOR THE JERUSALEM CINEMATHEQUE AKA JERUSALEM FILM CENTER 179,981
    PLANNED PARENTHOOD OF GREATER TEXAS
    7424 GREENVILLE AVE SUITE 206
    DALLAS,TX75231     		NONE 501(C)(3) AUDRE RAPOPORT HEALTH CENTER EXPANSION 1,000
    PROSPER WACO
    4901 BOSQUE BLVD STE 290
    WACO,TX76710     		NONE 501(C)(3) FUNDING'S SUPPORT FOR ORGANIZATIONAL BACKBONE ($100,000) PILOT PROGRAM PROJECT LINK ($255,000) 64,370
    TEXAS DEMOCRACY FOUNDATION
    307 WEST 7TH ST
    AUSTIN,TX78701     		NONE 501(C)(3) GENERAL SUPPORT AND FUNDRAISING TRAVEL COSTS FOR EDITOR AND PUBLISHER AND FOR THE DEVELOPMENT OF A STRATEGIC BUSINESS PLAN. 140,000
    TEXAS RAMP PROJECT
    PO BOX 832065
    RICHARDSON,TX750832065     		NONE 501(C)(3) FUNDING SUPPORT FOR PURCHASE OF MATERIAL AND CONSTRUCTION OF WHEELCHAIR RAMPS FOR MCLENNAN CO. 10,000
    UNITED JEWISH APPEAL
    25 BROADWAY STE 1700
    NEW YORK,NY10004     		NONE 501(C)(3) GENERAL ORGANIZATIONAL SUPPORT FOR THE HAND IN HAND SCHOOL 179,981
    UNIVERSITY OF TEXAS AUSTIN
    1 UNIVERSITY STATION D6000
    AUSTIN,TX78712     		NONE 501(C)(3) RAPOPORT SCHOLARS PROGRAM 359,962
    WACO FOUNDATION - MAC PROGRAM
    1227 N VALLEY MILLS DR SUITE 235
    WACO,TX76710     		NONE 501(C)(3) SCHOLARSHIPS 40,000
    YMCA OF CENTRAL TEXAS
    6800 HARVEY RD
    WACO,TX76710     		NONE 501(C)(3) PARTNER WITH FAMILY HEALTH CENTER TO EDUCATE LOW INCOME FAMILIES ON OBESITY/OVERWEIGHT AND DIABETES ISSUES 60,000
    EVERY TEXAN (FORMERLY CENTER ON PUBLIC POLICY PRIORITIES)
    7020 EASY WIND DR SUITE 200
    AUSTIN,TX78752     		NONE 501(C)(3) ENSURING AN EQUITABLE ECONOMIC COVID-19 RECOVERY IN TX 75,000
    PAUL QUINN COLLEGE
    3837 SIMPSON STUART ROAD
    DALLAS,TX75241     		NONE 501(C)(3) RENOVATION OF THE RICHARD ALLEN PERFORMANCE AND MULTIPURPOSE CENTER 25,000
    NATIONAL CONFERENCE ON CITIZENSHIP
    1920 L ST NW SUITE 450
    WASHINGTON,DC20036     		NONE 501(C)(3) STUDENTS LEARN STUDENTS VOTE ($125,000) PARTY AT THE MAILBOX ($25,000) 150,000
    TEXAS TRIBUNE
    919 CONGRESS AVE SIXTH FLOOR
    AUSTIN,TX78701     		NONE 501(C)(3) GENERAL OPERATING 20,000
    TURNOUT NATION
    PO BOX 5473
    RICHMOND,CA94805     		NONE 501(C)(3) TURNOUT NATION INITIATIVE 50,000
    THE COMMITTEE OF SEVENTY
    123 SOUTH BROAD ST STE 1800
    PHILADELPHIA,PA19109     		NONE 501(C)(3) VOTER EDUCATION & AWARENESS CAMPAIGN EXPANSION 50,000
    DR PEPPER MUSEUM
    300 SOUTH 5TH STREET
    WACO,TX76701     		NONE 501(C)(3) WACO LUNCH COUNTER SIT-IN EXHIBIT 15,000
    TX APPLESEED
    1609 SHOAL CREEK BLVD SUITE 201
    AUSTIN,TX78701     		NONE 501(C)(3) TACKLING INJUSTICE IN TEXAS' JUVENILE JUSTICE SYSTEM AND ENDING YOUTH HOMELESSNESS 50,000
    Total .................................bullet 3a 2,043,642
    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 ...........     		         
    4 Dividends and interest from securities....     14 1,075,242  
    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 ............     		    18 486,594  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aFEDERAL INCOME TAX BENEFIT     		        20,369
    bGRANT RECOVERIES         24,500
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 1,561,836 44,869
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,606,705
    (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.)
    11A REFUND OF FEDERAL INCOME TAX PAID IN PRIOR YEAR
    11B RECOVERY OF GRANT MADE IN PRIOR TAX YEAR
    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:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING/PROFESSIONAL FEES 36,558 0   0

    TY 2020 InvestmentsOtherSchedule2
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PRIOR & CURRENT YEAR BOOK VALUES FMV 61,403,072 0
    ADT SECURITY CORPORATION 4.125% 15-JUN-2023 FMV 0 34,117
    AECOM 5.875% 15-OCT-2024 FMV 0 34,574
    AIRCASTLE LIMITED 4.25% 15-JUN-2026 FMV 0 30,542
    ALLY FINANCIAL INC. 4.625% 19-MAY-2022 FMV 0 12,649
    ALCOA INC. 6.75% 15-JAN-2028 FMV 0 11,006
    AMERICAN AXLE & MANUFACTURING, INC. 6.25% 15-MAR-2026 FMV 0 31,930
    AMERIGAS PARTNERS, L.P. 5.875% 20-AUG-2026 FMV 0 34,875
    ARAMARK CORP. /OLD/ 4.75% 01-JUN-2026 FMV 0 14,412
    ASBURY AUTOMOTIVE GROUP, INC. 4.75% 01-MAR-2030 FMV 0 32,175
    BALL CORPORATION 4.0% 15-NOV-2023 FMV 0 33,015
    BALL CORPORATION 4.875% 15-MAR-2026 FMV 0 21,461
    BED BATH & BEYOND INC. 3.749% 01-AUG-2024 FMV 0 18,927
    BERRY GLOBAL, INC. 5.125% 15-JUL-2023 FMV 0 14,175
    BOEING COMPANY 5.705% 01-MAY-2040 FMV 0 25,954
    BOYD GAMING CORPORATION 6.375% 01-APR-2026 FMV 0 33,242
    BOYD GAMING CORPORATION 6.0% 15-AUG-2026 FMV 0 31,125
    CDW LLC 5.5% 01-DEC-2024 FMV 0 33,540
    CSC HOLDINGS, LLC 6.75% 15-NOV-2021 FMV 0 32,395
    CSC HOLDINGS, LLC 5.25% 01-JUN-2024 FMV 0 32,472
    CABLEVISION SYSTEMS CORPORATION 5.875% 15-SEP-2022 FMV 0 32,821
    CEDAR FAIR, L.P. 5.375% 15-APR-2027 FMV 0 32,720
    CENTENE CORPORATION 4.75% 15-JAN-2025 FMV 0 21,551
    CENTURY COMMUNITIES, INC. 6.75% 01-JUN-2027 FMV 0 14,948
    LUMEN TECHNOLOGIES, INC. 7.5% 01-APR-2024 FMV 0 33,975
    CHEMOURS CO. 5.375% 15-MAY-2027 FMV 0 34,080
    CREDIT ACCEPTANCE CORPORATION 6.625% 15-MAR-2026 FMV 0 31,950
    CROWN AMERICAS LLC 4.5% 15-JAN-2023 FMV 0 34,819
    DCP MIDSTREAM OPERATING LP 5.375% 15-JUL-2025 FMV 0 35,162
    DCP MIDSTREAM LP 5.125% 15-MAY-2029 FMV 0 6,655
    DELL INC. 6.5% 15-APR-2038 FMV 0 22,365
    DELL INC. 5.4% 10-SEP-2040 FMV 0 33,777
    DELTA AIR LINES, INC. 7.375% 15-JAN-2026 FMV 0 36,554
    DISH DBS CORPORATION 5.0% 15-MAR-2023 FMV 0 33,040
    DISH DBS CORPORATION 5.875% 15-NOV-2024 FMV 0 26,214
    EQT CORPORATION 8.5% 01-FEB-2030 FMV 0 33,075
    EQM MIDSTREAM PARTNERS, LP 5.5% 15-JUL-2028 FMV 0 37,157
    ENCOMPASS HEALTH CORPORATION 4.5% 01-FEB-2028 FMV 0 34,485
    ENCOMPASS HEALTH CORPORATION 4.75% 01-FEB-2030 FMV 0 29,995
    ENERGY TRANSFER OPERATING, L.P. 5.0% 15-MAY-2050 FMV 0 34,652
    EXPEDIA GROUP, INC. 5.0% 15-FEB-2026 FMV 0 35,850
    FORD MOTOR COMPANY 9.0% 22-APR-2025 FMV 0 31,876
    FORD MOTOR COMPANY 9.625% 22-APR-2030 FMV 0 36,693
    FREEPORT-MCMORAN, INC. 5.25% 01-SEP-2029 FMV 0 34,488
    GLP CAPITAL LP 5.375% 15-APR-2026 FMV 0 35,578
    ALLY FINANCIAL INC. 8.0% 01-NOV-2031 FMV 0 38,165
    GRAPHIC PACKAGING INTERNATIONAL, LLC 4.75% 15-APR-2021 FMV 0 33,020
    GRIFFON CORPORATION 5.75% 01-MAR-2028 FMV 0 30,668
    H.B. FULLER COMPANY 4.25% 15-OCT-2028 FMV 0 28,700
    HCA, INC. 5.375% 01-FEB-2025 FMV 0 34,860
    HCA, INC. 5.875% 01-MAY-2023 FMV 0 34,061
    HASBRO, INC. 6.35% 15-MAR-2040 FMV 0 11,606
    HILLENBRAND, INC. 5.75% 15-JUN-2025 FMV 0 21,600
    HILTON DOMESTIC OPERATING CO., INC. 4.875% 15-JAN-2030 FMV 0 34,960
    HILTON WORLDWIDE FINANCE LLC 4.875% 01-APR-2027 FMV 0 33,870
    HOST HOTELS & RESORTS, INC. (MARYLAND) 3.375% 15-DEC-2029 FMV 0 20,571
    HOST HOTELS & RESORTS, INC. 3.5% 15-SEP-2030 FMV 0 15,803
    HUGHES SATELLITE SYSTEMS CORP. 5.25% 01-AUG-2026 FMV 0 32,009
    ICAHN ENTERPRISES L.P. 4.75% 15-SEP-2024 FMV 0 17,659
    IHEARTCOMMUNICATIONS, INC. 6.375% 01-MAY-2026 FMV 0 26,750
    KOHL'S CORPORATION 9.5% 15-MAY-2025 FMV 0 35,022
    KRAFT HEINZ FOODS CO. 5.2% 15-JUL-2045 FMV 0 35,672
    L BRANDS, INC. 6.75% 01-JUL-2036 FMV 0 25,625
    LEVEL 3 FINANCING, INC. 5.375% 01-MAY-2025 FMV 0 32,910
    LEVEL 3 FINANCING, INC. 5.25% 15-MAR-2026 FMV 0 24,799
    MGIC INVESTMENT CORPORATION 5.25% 15-AUG-2028 FMV 0 35,310
    MGM RESORTS INTERNATIONAL 5.75% 15-JUN-2025 FMV 0 34,275
    MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP 4.5% 01-SEP-2026 FMV 0 20,442
    MPT OPERATING PARTNERSHIP, L.P. 5.25% 01-AUG-2026 FMV 0 33,504
    MARRIOTT OWNERSHIP RESORTS, INC. 6.5% 15-SEP-2026 FMV 0 31,350
    NRG ENERGY, INC. 7.25% 15-MAY-2026 FMV 0 32,705
    NETFLIX, INC. 5.5% 15-FEB-2022 FMV 0 32,434
    NETFLIX, INC. 5.875% 15-FEB-2025 FMV 0 33,364
    NEWELL BRANDS INC 6.0% 01-APR-2046 FMV 0 22,950
    NORDSTROM, INC. 4.375% 01-APR-2030 FMV 0 28,562
    OCCIDENTAL PETROLEUM CORPORATION 5.55% 15-MAR-2026 FMV 0 26,099
    OCCIDENTAL PETROLEUM CORPORATION 5.875% 01-SEP-2025 FMV 0 36,210
    PG&E CORPORATION 5.25% 01-JUL-2030 FMV 0 37,400
    PENSKE AUTOMOTIVE GROUP, INC. 3.5% 01-SEP-2025 FMV 0 27,439
    QVC, INC. 4.85% 01-APR-2024 FMV 0 29,093
    QVC, INC. 5.45% 15-AUG-2034 FMV 0 31,200
    QVC, INC. 4.375% 01-SEP-2028 FMV 0 35,229
    RHP HOTEL PROPERTIES LP 4.75% 15-OCT-2027 FMV 0 11,385
    RADIAN GROUP INC. 4.875% 15-MAR-2027 FMV 0 36,241
    RADIAN GROUP INC. 6.625% 15-MAR-2025 FMV 0 21,518
    SBA COMMUNICATIONS CORPORATION 4.875% 01-SEP-2024 FMV 0 33,849
    SALLY HOLDINGS LLC 5.625% 01-DEC-2025 FMV 0 31,853
    SERVICE CORPORATION INTERNATIONAL 3.375% 15-AUG-2030 FMV 0 34,327
    SPRINGLEAF FINANCE CORPORATION 6.875% 15-MAR-2025 FMV 0 30,193
    SPRINGLEAF FINANCE CORPORATION 7.125% 15-MAR-2026 FMV 0 34,293
    SPIRIT AEROSYSTEMS, INC. 3.85% 15-JUN-2026 FMV 0 26,279
    SPIRIT AEROSYSTEMS, INC. 4.6% 15-JUN-2028 FMV 0 26,696
    SPRINT COMMUNICATIONS, INC. 11.5% 15-NOV-2021 FMV 0 32,550
    STARWOOD PROPERTY TRUST, INC. 5.0% 15-DEC-2021 FMV 0 33,553
    TEGNA, INC. 5.0% 15-SEP-2029 FMV 0 32,749
    TELEFLEX INCORPORATED 4.625% 15-NOV-2027 FMV 0 33,316
    TENET HEALTHCARE CORPORATION 4.625% 15-JUL-2024 FMV 0 32,801
    TENET HEALTHCARE CORPORATION 5.125% 01-MAY-2025 FMV 0 34,663
    TOLL BROTHERS FINANCE CORP. 4.875% 15-MAR-2027 FMV 0 34,275
    TRANSDIGM, INC. 7.5% 15-MAR-2027 FMV 0 32,025
    TRANSDIGM, INC. 5.5% 15-NOV-2027 FMV 0 32,590
    UNITED RENTALS (NORTH AMERICA), INC. 5.875% 15-SEP-2026 FMV 0 33,878
    UNITED RENTALS (NORTH AMERICA), INC. 3.875% 15-NOV-2027 FMV 0 33,520
    VERISIGN, INC. 5.25% 01-APR-2025 FMV 0 27,270
    WESTERN DIGITAL CORPORATION 4.75% 15-FEB-2026 FMV 0 35,360
    WESTERN MIDSTREAM OPERATING, LP 4.75% 15-AUG-2028 FMV 0 12,480
    WESTERN MIDSTREAM OPERATING, LP 6.5% 01-FEB-2050 FMV 0 14,300
    TRI POINTE HOMES HOLDINGS, INC. 5.875% 15-JUN-2024 FMV 0 34,928
    WPX ENERGY, INC. 5.75% 01-JUN-2026 FMV 0 34,691
    TRAVEL + LEISURE CO. 4.25% 01-MAR-2022 FMV 0 34,765
    ABERDEEN STANDARD PHYSICAL PLATINUM SHARES ETF FMV 0 368,672
    ISHARES SILVER TRUST FMV 0 842,579
    ISHARES GOLD TRUST FMV 0 850,805
    SPDR GOLD SHARES FMV 0 853,096
    VANECK VECTORS GOLD MINERS ETF FMV 0 480,255
    VANECK VECTORS JUNIOR GOLD MINERS ETF FMV 0 305,046
    ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC FMV 0 303,840
    AMERICAN ELECTRIC POWER COMPANY, INC. FMV 0 212,339
    BROOKFIELD RENEWABLE CORPORATION CLASS A FMV 0 399,616
    CHENIERE ENERGY, INC. FMV 0 660,330
    CLEARWAY ENERGY, INC. CLASS C FMV 0 712,039
    DTE ENERGY COMPANY FMV 0 339,948
    DOMINION ENERGY INC FMV 0 330,880
    NEXTERA ENERGY PARTNERS LP FMV 0 1,005,750
    ONEOK, INC. FMV 0 575,700
    PEMBINA PIPELINE CORPORATION FMV 0 347,802
    PLAINS GP HOLDINGS LP CLASS A FMV 0 194,350
    SEMPRA ENERGY FMV 0 382,230
    TARGA RESOURCES CORP. FMV 0 659,500
    TC ENERGY CORPORATION FMV 0 317,616
    WILLIAMS COMPANIES, INC. FMV 0 882,200
    ISHARES MSCI EAFE SMALL-CAP ETF FMV 0 1,040,082
    ISHARES MSCI CHINA ETF FMV 0 499,747
    ISHARES CORE MSCI EAFE ETF FMV 0 1,415,930
    ISHARES CORE MSCI EMERGING MARKETS ETF FMV 0 1,699,896
    VANGUARD FTSE DEVELOPED MARKETS ETF FMV 0 1,422,532
    VANGUARD FTSE EMERGING MARKETS ETF FMV 0 1,687,504
    VANGUARD FTSE EUROPE ETF FMV 0 1,085,344
    ISHARES CORE U.S. AGGREGATE BOND ETF FMV 0 3,717,312
    ISHARES FLOATING RATE BOND ETF FMV 0 688,423
    VANGUARD LONG-TERM BOND ETF FMV 0 191,103
    VANGUARD TOTAL BOND MARKET ETF FMV 0 2,044,950
    VANGUARD MORTGAGE-BACKED SECURITIES ETF FMV 0 2,118,841
    VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF FMV 0 3,813,134
    FIRST TRUST NASDAQ CYBERSECURITY ETF FMV 0 1,997,455
    GLOBAL X CLOUD COMPUTING ETF FMV 0 1,171,103
    INVESCO QQQ TRUST FMV 0 4,707,669
    ISHARES RUSSELL MIDCAP ETF FMV 0 4,699,171
    ISHARES RUSSELL 2000 ETF FMV 0 5,471,054
    SPDR S&P 500 ETF TRUST FMV 0 5,533,424
    SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST FMV 0 2,144,505

    TY 2020 LegalFeesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 1,520 0   1,520


    TY 2020 OtherAssetsSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INTEREST REC 53,928 43,375 43,375


    TY 2020 OtherDecreasesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Amount
    TRANSFER OF NET INCOME TO/FROM AGENCY PAYABLE 1,764,344


    TY 2020 OtherExpensesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMPUTERS/TECH SUPPORT 5,011 0   0
    INSURANCE 27,128 0   0
    NEWSPAPERS/MAGAZINES/JOURNALS 21,340 0   21,340
    OFFICE SUPPLIES 6,175 0   6,175
    POSTAGE 130 0   130
    PROFESSIONAL DUES 11,925 0   11,925
    TELEPHONE 2,713 0   2,713
    TRUSTEE FEES 121,000 24,200   96,800
    MEETINGS GENERAL 9,439 0   6,500


    TY 2020 OtherIncomeSchedule2
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FEDERAL INCOME TAX BENEFIT 20,369   20,369
    GRANT RECOVERIES 24,500   24,500


    TY 2020 OtherIncreasesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Amount
    UNREALIZED G/L REPORTED PER AUDITED F/S 6,703,492
    ROUNDING DIFFERENCES 2


    TY 2020 OtherLiabilitiesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Description Beginning of Year - Book Value End of Year - Book Value
    AGENCY PAYABLE 18,899,115 20,663,459
    FEDERAL TAX PAYABLE 211,217 3,810


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT 189,956 189,956   0


    TY 2020 TaxesSchedule
    Name:
    BERNARD & AUDRE RAPOPORT FOUNDATION
    EIN:
    74-2479712
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 24,534 24,534   0
    PAYROLL TAXES 22,826 4,565   18,261
    EXCISE TAX 16,575 0   0