TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go 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
LINCOLN M KNORR RESID TR - EQFUNDS XXXXX3009

Number and street (or P.O. box number if mail is not delivered to street address)10 S DEARBORN IL1-0111
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60603

A Employer identification number

38-6725549

B Telephone number (see instructions)

(800) 496-2583

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$32,922,065J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	460,336		460,336
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,248,006
b	Gross sales price for all assets on line 6a 7,949,047
7	Capital gain net income (from Part IV, line 2)...			1,248,006
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		77
12	Total. Add lines 1 through 11........	1,708,419		1,708,342
13	Compensation of officers, directors, trustees, etc.	174,688		116,392		58,297
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		6,339	6,339		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		45,222	8,095		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	226,249		130,826	0	58,297
25	Contributions, gifts, grants paid.......	1,339,539				1,339,539
26	Total expenses and disbursements. Add lines 24 and 25	1,565,788		130,826	0	1,397,836
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	142,631
b	Net investment income (if negative, enter -0-)			1,577,516
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	1,267,766	1,337,525	1,337,525
	2	Savings and temporary cash investments.........	335,010	586,564	586,564
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts 0
	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).......	10,740,463	10,286,400	15,329,178
	c	Investments—corporate bonds (attach schedule).......	6,265,830	6,256,953	6,715,939
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	6,033,256	6,316,453	8,952,859
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	24,642,325	24,783,895	32,922,065
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	24,642,325	24,783,895
	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).....	24,642,325	24,783,895
	30	Total liabilities and net assets/fund balances (see instructions).	24,642,325	24,783,895

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

24,642,325

Enter amount from Part I, line 27a .....................

142,631

Other increases not included in line 2 (itemize) bullet

28,693

Add lines 1, 2, and 3 ..........................

24,813,649

Decreases not included in line 2 (itemize) bullet

29,754

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

24,783,895

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	30. DOLLAR GENERAL CORP			2020-01-07
b	40. NESTLE S A SPONSORED ADR REPSTG REG			2020-01-07
c	10. STANLEY BLACK & DECKER,INC.		2015-04-30	2020-01-07
d	10. ACCENTURE PLC		2012-01-18	2020-01-07
e	30. CERNER CORP		2016-11-02	2020-01-08
	30. CERNER CORP		2016-11-02	2020-01-08
	50. DOLLAR GENERAL CORP		2015-05-19	2020-01-08
	50. NESTLE S A SPONSORED ADR REPSTG REG		2017-03-24	2020-01-08
	30. PPG INDS INC		2019-03-13	2020-01-08
	50. STANLEY BLACK & DECKER,INC.			2020-01-08
	20. ACCENTURE PLC		2012-01-18	2020-01-08
	20. CERNER CORP		2016-11-02	2020-01-09
	39. DOLLAR GENERAL CORP		2015-05-19	2020-01-09
	52. NESTLE S A SPONSORED ADR REPSTG REG			2020-01-09
	37. PPG INDS INC			2020-01-09
	10. PEPSICO INC		2018-10-11	2020-01-09
	20. STANLEY BLACK & DECKER,INC.			2020-01-09
	59. ACCENTURE PLC		2012-01-18	2020-01-09
	30. CERNER CORP		2016-11-02	2020-01-10
	54. PEPSICO INC		2018-06-20	2020-01-10
	10. STANLEY BLACK & DECKER,INC.		2016-01-19	2020-01-10
	20. CERNER CORP		2016-11-02	2020-01-13
	30. STANLEY BLACK & DECKER,INC.		2016-01-19	2020-01-13
	75. TJX COS INC NEW			2020-01-15
	6. J P MORGAN CHASE & CO		2016-08-05	2020-01-27
	40. J P MORGAN CHASE & CO		2019-08-12	2020-01-27
	91. J P MORGAN CHASE & CO		2016-08-05	2020-01-28
	5361.279 AMER FNDS INTL VNTG-F3		2014-02-13	2020-01-31
	50. BERKSHIRE HATHAWAY INC DEL CL B			2020-02-10
	3. BOOKING HOLDINGS INC		2020-01-28	2020-02-10
	50. CERNER CORP			2020-02-10
	100. COMCAST CORP NEW CL A		2020-01-09	2020-02-10
	35. DOLLAR GENERAL CORP		2015-05-19	2020-02-10
	45. DOLLAR TREE INC		2019-01-14	2020-02-10
	55. EXPEDITORS INTL WASH INC			2020-02-10
	100. HD SUPPLY HOLDINGS INC			2020-02-10
	45. HONEYWELL INTL INC		2016-10-12	2020-02-10
	55. J P MORGAN CHASE & CO		2016-08-05	2020-02-10
	165. MASCO CORP			2020-02-10
	35. NESTLE S A SPONSORED ADR REPSTG REG			2020-02-10
	45. NORTHERN TR CORP			2020-02-10
	65. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-02-10
	60. OMNICOM GROUP			2020-02-10
	30. PPG INDS INC			2020-02-10
	55. PACCAR INC			2020-02-10
	30. PEPSICO INC			2020-02-10
	60. QUEST DIAGNOSTICS INC			2020-02-10
	135. SCHLUMBERGER LTD			2020-02-10
	115. SCHWAB CHARLES CORP NEW			2020-02-10
	70. SMITH & NEPHEW PLC SPONS ADR NEW			2020-02-10
	30. SMITH & NEPHEW PLC SPONS ADR NEW		2018-03-28	2020-02-10
	70. SOUTHWEST AIRLS CO		2019-10-25	2020-02-10
	80. TJX COS INC NEW		2017-10-04	2020-02-10
	85. UNILEVER PLC			2020-02-10
	30. UNITEDHEALTH GROUP INC			2020-02-10
	15. ACCENTURE PLC		2012-01-18	2020-02-10
	50. EATON CORP PLC		2020-01-09	2020-02-10
	40. CHUBB LTD			2020-02-10
	30. TE CONNECTIVITY LTD			2020-02-10
	10. CERNER CORP		2017-02-07	2020-02-12
	10. CERNER CORP		2017-02-07	2020-02-12
	4422. JPMORGAN BETABUILDERS JAPAN ETF		2018-12-28	2020-02-12
	2566. JPMORGAN BETABUILDERS JAPAN ETF		2018-12-28	2020-02-12
	40. CERNER CORP			2020-02-13
	70. CERNER CORP			2020-02-14
	30. CERNER CORP			2020-02-18
	50. CERNER CORP		2016-11-04	2020-02-19
	30. CERNER CORP		2016-11-04	2020-02-21
	20. CERNER CORP			2020-02-24
	30. CERNER CORP			2020-02-25
	50. CERNER CORP			2020-02-26
	60. CERNER CORP			2020-02-27
	30. CERNER CORP		2016-12-06	2020-02-28
	4251. ISHARES MISCI EAFE INDEX FUND			2020-03-05
	10. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-07-29	2020-03-06
	14467.597 PIMCO SHORT TERM FUND INSTL		2018-01-29	2020-03-06
	10. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-07-30	2020-03-09
	30. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-07-30	2020-03-10
	50. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-10-25	2020-03-11
	40. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-10-24	2020-03-12
	50. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-07-31	2020-03-13
	40. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0		2013-07-31	2020-03-16
	50. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-03-17
	2166. SPDR TR UNIT SER 1			2020-03-17
	40. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-03-18
	50. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-03-19
	40. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-03-20
	50. NUTRIEN LTD ISIN CA67077M1086 SEDOL BDRJLN0			2020-03-23
	22495.343 JPMORGAN CORE BOND FUND ULTRA			2020-03-27
	15120.99 PIMCO SHORT TERM FUND INSTL			2020-03-27
	18430.564 VANGUARD TTL INTL BND-ADM		2017-04-27	2020-03-27
	50. TE CONNECTIVITY LTD			2020-04-09
	20. TE CONNECTIVITY LTD			2020-04-13
	40. SOUTHWEST AIRLS CO			2020-04-14
	30. TE CONNECTIVITY LTD			2020-04-14
	110. SOUTHWEST AIRLS CO			2020-04-15
	70. SOUTHWEST AIRLS CO			2020-04-15
	100. SOUTHWEST AIRLS CO			2020-04-15
	20. TE CONNECTIVITY LTD		2012-01-18	2020-04-15
	70. SOUTHWEST AIRLS CO		2020-01-09	2020-04-16
	160. SOUTHWEST AIRLS CO			2020-04-16
	120. SOUTHWEST AIRLS CO			2020-04-16
	40. TE CONNECTIVITY LTD		2012-01-18	2020-04-16
	115. SOUTHWEST AIRLS CO			2020-04-17
	10. TE CONNECTIVITY LTD		2012-01-18	2020-04-17
	10. TE CONNECTIVITY LTD		2012-01-18	2020-04-17
	50. TE CONNECTIVITY LTD		2012-01-18	2020-04-17
	30. TE CONNECTIVITY LTD			2020-04-20
	17. TE CONNECTIVITY LTD		2012-09-27	2020-04-21
	40. TE CONNECTIVITY LTD			2020-04-22
	40. TE CONNECTIVITY LTD		2012-10-04	2020-04-23
	1171. ISHARES TR S&P 500 GROWTH INDEX FD		2018-12-28	2020-04-24
	694. ISHARES TR S&P 500 VALUE INDEX FD		2018-12-28	2020-04-24
	53. TE CONNECTIVITY LTD			2020-04-24
	28678.266 DOUBLELINE TTL RTRN BND-I		2017-11-20	2020-05-08
	2759. ISHARES TR 7-10 YR TREAS INDEX FD		2019-02-13	2020-05-08
	5501.976 AMER FNDS INTL VNTG-F3		2014-02-13	2020-05-15
	20. EXPEDITORS INTL WASH INC		2012-05-23	2020-05-15
	20. SMITH & NEPHEW PLC SPONS ADR NEW		2018-03-28	2020-05-15
	12. UNITEDHEALTH GROUP INC		2019-09-24	2020-05-15
	6. UNITEDHEALTH GROUP INC		2013-10-17	2020-05-15
	60. EXPEDITORS INTL WASH INC		2012-05-17	2020-05-18
	40. SMITH & NEPHEW PLC SPONS ADR NEW		2018-03-27	2020-05-18
	27. UNITEDHEALTH GROUP INC		2013-10-17	2020-05-18
	10. EXPEDITORS INTL WASH INC		2012-05-17	2020-05-19
	30. SMITH & NEPHEW PLC SPONS ADR NEW			2020-05-19
	30. UNITEDHEALTH GROUP INC		2013-10-17	2020-05-19
	20. EXPEDITORS INTL WASH INC		2012-05-17	2020-05-20
	25. SMITH & NEPHEW PLC SPONS ADR NEW		2018-03-26	2020-05-20
	19. UNITEDHEALTH GROUP INC		2013-10-17	2020-05-20
	19. UNITEDHEALTH GROUP INC		2013-10-17	2020-05-21
	20. QUEST DIAGNOSTICS INC		2020-01-15	2020-06-01
	45. QUEST DIAGNOSTICS INC			2020-06-01
	40. HONEYWELL INTL INC			2020-06-05
	48. HONEYWELL INTL INC		2016-10-11	2020-06-08
	58863.869 JPM GL RES ENH IDX FD - USD - R6 ISIN US48129C2070			2020-06-16
	. KONINKLIJKE PHILIPS ELECTRS N V NEW			2020-07-17
	11. ACCENTURE PLC		2012-01-18	2020-08-31
	25. ACCENTURE PLC		2012-01-18	2020-09-01
	26101.619 DOUBLELINE TTL RTRN BND-R6			2020-09-22
	4897.024 AMER FNDS INTL VNTG-F3		2014-02-13	2020-09-25
	374. VANGUARD MID-CAP VIPERS		2015-02-09	2020-10-02
	17. NESTLE S A SPONSORED ADR REPSTG REG		2017-03-22	2020-10-06
	11. PEPSICO INC		2018-05-25	2020-10-06
	26. NESTLE S A SPONSORED ADR REPSTG REG			2020-10-07
	30. PEPSICO INC		2018-05-25	2020-10-07
	20. NESTLE S A SPONSORED ADR REPSTG REG		2012-01-18	2020-10-08
	217. ISHARES TR S&P 500 GROWTH INDEX FD		2018-12-28	2020-10-14
	578. ISHARES TR S&P 500 VALUE INDEX FD		2018-12-28	2020-10-14
	12072.151 JPMORGAN CORE BOND FUND ULTRA			2020-10-14
	2257. ISHARES TR S&P 500 VALUE INDEX FD		2018-12-28	2020-10-21
	3543. JPMORGAN BETABUILDERS EUROPE ETF		2020-06-16	2020-10-21
	4626. JPMORGAN BETABUILDERS EUROPE ETF		2020-06-16	2020-10-21
	11786.329 JPMORGAN CORE BOND FUND ULTRA		2014-10-16	2020-10-29
	12733.315 VANGUARD TOT BD MKT IDX-ADM		2017-04-13	2020-10-29
	12405.04 VANGUARD TTL INTL BND-ADM			2020-10-29
	4. EXPEDITORS INTL WASH INC		2012-05-17	2020-11-02
	23. ACCENTURE PLC		2012-01-18	2020-11-02
	21. EXPEDITORS INTL WASH INC		2012-05-17	2020-11-03
	6. EXPEDITORS INTL WASH INC		2012-05-17	2020-11-03
	29. EXPEDITORS INTL WASH INC		2012-05-17	2020-11-04
	28. EXPEDITORS INTL WASH INC		2012-05-16	2020-11-05
	4. BOOKING HOLDINGS INC		2020-01-28	2020-11-16
	15. HONEYWELL INTL INC		2016-10-11	2020-11-16
	2293. ISHARES TR S&P 500 GROWTH INDEX FD		2018-12-28	2020-12-07
	654. VANGUARD MID-CAP VIPERS		2015-02-09	2020-12-07
	91. HD SUPPLY HOLDINGS INC			2020-12-17
	242. HD SUPPLY HOLDINGS INC			2020-12-17
	238. HD SUPPLY HOLDINGS INC			2020-12-18
	200. HD SUPPLY HOLDINGS INC			2020-12-21
	95. HD SUPPLY HOLDINGS INC			2020-12-22
	99. HD SUPPLY HOLDINGS INC			2020-12-22
	1. BLACKSTONE GSO PRIVATE INVESTORS,		2018-01-01	2020-12-31
	1. CRP VIII (CARLYLE) PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF		2018-01-01	2020-12-31
	1. BSREP III (BROOKFIELD) PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF		2018-01-01	2020-12-31
	1. RIVERSTONE GLOBAL ENERGY AND POWER PRIVATE INVESTORS V, LP (OFFSHOR		2018-01-01	2020-12-31
	1. BREP IX PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A -		2018-01-01	2020-12-31
	1. DFJ GROWTH 2013 PRIVATE INVESTORS OFFSHORE, L.P. CLASS A -		2018-01-01	2020-12-31
	1. AESSF II PRIVATE INVESTORS OFFSHORE (USD), L.P. AVENUE CLASS A		2018-01-01	2020-12-31
	1. KKR NORTH AMERICA XI PRIVATE INVESTORS OFFSHORE CLASS A NON SELF		2018-01-01	2020-12-31
	1. GSO PRIVATE INVESTORS OFFSHORE II,		2018-01-01	2020-12-31
	1. CD&R FUND X PRIVATE INVESTORS CAYMAN, LP (NON-SELF DEALING		2018-01-01	2020-12-31
	1. LC ASIA PRIVATE INVESTORS, L.P. (OFFSHORE) CLASS A (NON SELF DEALIN		2018-01-01	2020-12-31
	1. ARES PCS PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF DEALING FIDUCIA		2018-01-01	2020-12-31
	1. WP GROWTH PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A -		2018-01-01	2020-12-31
	1. AP X PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A - NON-SELF DEALING		2018-01-01	2020-12-31
	1. STARWOOD SOF XI PRIVATE INVESTORS, LLC		2018-01-01	2020-12-31
	1. STARWOOD SOF IX PRIVATE INVESTORS		2018-01-01	2020-12-31
	1. SILVER LAKE PARTNERS IV (SLP IV) PRIVATE INVESTORS, L.P. (OFFSHORE		2018-01-01	2020-12-31
	1. THE WINTON FUND LIMITED TRANCHE B - NEW ISSUES INELIGIBLE NON-SELF		2018-01-01	2020-12-31
	1. BREP ASIA II PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF DEALING		2018-01-01	2020-12-31
	1. ASF VIII PRIVATE INVESTORS OFFSHORE, SICAV-RAIF S.C.SP. - CLASS A -		2018-01-01	2020-12-31
	CAPITAL GAIN DIVIDENDS	P
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	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	4,572	2,225	2,347
b	4,332	3,145	1,187
c	1,659	990	669
d	2,044	544	1,500
e	2,209	1,615	594
	2,201	1,615	586
	7,604	3,702	3,902
	5,340	3,901	1,439
	3,859	3,344	515
	8,303	4,890	3,413
	4,091	1,087	3,004
	1,477	1,077	400
	5,967	2,888	3,079
	5,509	4,054	1,455
	4,757	4,033	724
	1,348	1,059	289
	3,310	1,932	1,378
	12,172	3,207	8,965
	2,208	1,615	593
	7,274	5,716	1,558
	1,662	957	705
	1,461	1,077	384
	4,961	2,872	2,089
	4,646	2,761	1,885
	793	397	396
	5,285	4,308	977
	12,205	6,018	6,187
	76,291	62,727	13,564
	11,339	11,143	196
	5,655	5,752	-97
	3,970	2,687	1,283
	4,452	4,545	-93
	5,438	2,592	2,846
	3,917	4,384	-467
	3,987	2,102	1,885
	4,119	4,372	-253
	7,954	4,637	3,317
	7,563	3,637	3,926
	8,178	6,340	1,838
	3,914	2,725	1,189
	4,544	4,868	-324
	2,791	6,186	-3,395
	4,578	4,811	-233
	3,621	3,228	393
	4,134	3,640	494
	4,367	3,128	1,239
	6,693	6,728	-35
	4,616	10,203	-5,587
	5,359	5,536	-177
	3,390	2,866	524
	1,453	1,158	295
	4,016	3,943	73
	4,913	2,945	1,968
	5,146	4,782	364
	8,605	7,209	1,396
	3,178	815	2,363
	5,132	4,761	371
	6,520	6,310	210
	2,795	2,515	280
	768	536	232
	773	536	237
	108,558	93,470	15,088
	63,039	54,239	8,800
	3,063	2,143	920
	5,382	3,724	1,658
	2,308	1,592	716
	3,839	2,644	1,195
	2,280	1,586	694
	1,469	1,057	412
	2,179	1,580	599
	3,638	2,465	1,173
	4,264	2,862	1,402
	2,058	1,428	630
	266,336	236,242	30,094
	387	936	-549
	142,072	142,795	-723
	360	788	-428
	1,024	2,363	-1,339
	1,623	3,891	-2,268
	1,149	3,068	-1,919
	1,461	3,793	-2,332
	1,112	3,035	-1,923
	1,354	3,702	-2,348
	539,373	306,347	233,026
	1,009	2,660	-1,651
	1,356	2,253	-897
	1,126	1,593	-467
	1,303	1,967	-664
	269,269	250,608	18,661
	142,289	149,244	-6,955
	417,821	400,496	17,325
	3,552	4,155	-603
	1,386	1,649	-263
	1,391	2,248	-857
	2,105	1,320	785
	3,620	6,162	-2,542
	2,324	3,907	-1,583
	3,322	5,475	-2,153
	1,311	726	585
	2,144	3,814	-1,670
	4,948	8,686	-3,738
	3,667	6,493	-2,826
	2,551	1,453	1,098
	3,583	5,838	-2,255
	663	363	300
	670	363	307
	3,340	1,816	1,524
	2,011	1,032	979
	1,112	578	534
	2,674	1,359	1,315
	2,734	1,359	1,375
	214,830	174,669	40,161
	72,152	69,646	2,506
	3,692	1,788	1,904
	302,842	305,997	-3,155
	335,288	287,135	48,153
	69,600	64,373	5,227
	1,460	764	696
	750	772	-22
	3,538	2,703	835
	1,769	430	1,339
	4,395	2,272	2,123
	1,598	1,530	68
	7,952	1,933	6,019
	725	379	346
	1,193	1,139	54
	8,753	2,148	6,605
	1,462	757	705
	1,017	946	71
	5,487	1,360	4,127
	5,460	1,360	4,100
	2,377	2,140	237
	5,348	4,963	385
	6,452	4,085	2,367
	7,790	4,875	2,915
	1,197,291	949,212	248,079
	24		24
	2,636	598	2,038
	5,969	1,359	4,610
	281,114	275,490	5,624
	72,525	57,295	15,230
	66,614	46,432	20,182
	2,010	1,322	688
	1,494	1,106	388
	3,052	1,615	1,437
	4,100	3,016	1,084
	2,362	1,148	1,214
	52,370	32,368	20,002
	67,037	58,005	9,032
	150,298	141,219	9,079
	260,166	226,499	33,667
	82,195	79,169	3,026
	107,468	103,368	4,100
	145,915	139,552	6,363
	147,197	137,138	10,059
	289,906	269,207	20,699
	354	151	203
	5,068	1,250	3,818
	1,823	795	1,028
	520	227	293
	2,548	1,098	1,450
	2,453	1,060	1,393
	8,432	7,669	763
	3,122	1,523	1,599
	143,435	85,507	57,928
	133,650	81,194	52,456
	5,084	3,883	1,201
	13,516	10,087	3,429
	13,285	9,521	3,764
	11,167	7,903	3,264
	5,309	3,707	1,602
	5,531	3,733	1,798
	1	1,376	-1,375
	18,223	20,083	-1,860
	2,996	4,149	-1,153
	11,403	8,154	3,249
	17,536	26,241	-8,705
	117,071	118,163	-1,092
	136	1	135
	124,291	22,043	102,248
	9,461	10,066	-605
	55,816	57,795	-1,979
	218,323	149,859	68,464
	15,822	16,115	-293
	4,600	5,024	-424
	1	1,204	-1,203
	12,866	13,291	-425
	4,125	414	3,711
	99,859	106,542	-6,683
	379,236	402,560	-23,324
	7,597	12,070	-4,473
	21,849	24,558	-2,709
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838
			67,838

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			2,347
b			1,187
c			669
d			1,500
e			594
			586
			3,902
			1,439
			515
			3,413
			3,004
			400
			3,079
			1,455
			724
			289
			1,378
			8,965
			593
			1,558
			705
			384
			2,089
			1,885
			396
			977
			6,187
			13,564
			196
			-97
			1,283
			-93
			2,846
			-467
			1,885
			-253
			3,317
			3,926
			1,838
			1,189
			-324
			-3,395
			-233
			393
			494
			1,239
			-35
			-5,587
			-177
			524
			295
			73
			1,968
			364
			1,396
			2,363
			371
			210
			280
			232
			237
			15,088
			8,800
			920
			1,658
			716
			1,195
			694
			412
			599
			1,173
			1,402
			630
			30,094
			-549
			-723
			-428
			-1,339
			-2,268
			-1,919
			-2,332
			-1,923
			-2,348
			233,026
			-1,651
			-897
			-467
			-664
			18,661
			-6,955
			17,325
			-603
			-263
			-857
			785
			-2,542
			-1,583
			-2,153
			585
			-1,670
			-3,738
			-2,826
			1,098
			-2,255
			300
			307
			1,524
			979
			534
			1,315
			1,375
			40,161
			2,506
			1,904
			-3,155
			48,153
			5,227
			696
			-22
			835
			1,339
			2,123
			68
			6,019
			346
			54
			6,605
			705
			71
			4,127
			4,100
			237
			385
			2,367
			2,915
			248,079
			24
			2,038
			4,610
			5,624
			15,230
			20,182
			688
			388
			1,437
			1,084
			1,214
			20,002
			9,032
			9,079
			33,667
			3,026
			4,100
			6,363
			10,059
			20,699
			203
			3,818
			1,028
			293
			1,450
			1,393
			763
			1,599
			57,928
			52,456
			1,201
			3,429
			3,764
			3,264
			1,602
			1,798
			-1,375
			-1,860
			-1,153
			3,249
			-8,705
			-1,092
			135
			102,248
			-605
			-1,979
			68,464
			-293
			-424
			-1,203
			-425
			3,711
			-6,683
			-23,324
			-4,473
			-2,709

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,248,006
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 ...................		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

Reserved...........................

Reserved,..........................

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	21,927
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	21,927
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	21,927
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	37,625
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	37,625
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	15,698
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax15,698	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 . Click to see attachment

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

JP MORGAN CHASE BANK NA Telephone no. bullet

(800) 496-2583

Located at bullet

10 S DEARBORN ST MC IL 1-0111CHICAGOIL ZIP+4 bullet

60603

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

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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?.............

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)):

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?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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
JP MORGAN CHASE BANK NA	TRUSTEE 2	174,688
10 S DEARBORN ST MC IL 1-0111 CHICAGO,IL60603	TRUSTEE 2	174,688

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...................				0

Form 990-PF (2020)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

28,642,648

Average of monthly cash balances.......................

1,739,438

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

30,382,086

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

30,382,086

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

455,731

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

29,926,355

Minimum investment return. Enter 5% of line 5..................

1,496,318

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.)

Minimum investment return from Part X, line 6....................

1,496,318

Tax on investment income for 2020 from Part VI, line 5......

21,927

Income tax for 2020. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

21,927

Distributable amount before adjustments. Subtract line 2c from line 1............

1,474,391

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

1,474,391

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

1,474,391

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

1,397,836

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

1,397,836

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

1,397,836

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)

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					1,474,391
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......	71,627
b From 2016......	59,783
c From 2017......	0
d From 2018......	67,245
e From 2019......	0
fTotal of lines 3a through e........		198,655
4Qualifying distributions for 2020 from Part
XII, line 4: $ 1,397,836
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.....					1,397,836
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.		76,555			76,555
(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		122,100
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) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		122,100
10 Analysis of line 9:
a Excess from 2016....	54,855
b Excess from 2017....	0
c Excess from 2018....	67,245
d Excess from 2019....	0
e Excess from 2020....	0

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2020)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
UNIVERSITY OF MICHIGAN 500 S STATE ST ANN ARBOR,MI48109	NONE	PC	GENERAL	1,339,539
Total ................................. 3a				1,339,539

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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	460,336
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	1,248,006
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	77
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				1,708,419

13Total. Add line 12, columns (b), (d), and (e)..................

1,708,419

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
258620103 DOUBLELINE TTL RTRN
4812C0100 JPM CORE BOND FD - U
921937603 VANGUARD TOT BD MKT	2,205,301	2,380,566
92203J308 VANGUARD TTL INTL BN	1,059,636	1,104,590
693390601 PIMCO SHORT-TERM FD-
464287432 ISHARES 20+ YEAR TRE	533,422	556,629
464287440 ISHARES 7-10 YEAR TR
83002G108 SIX CIRCLES ULTR SHR	293,989	294,577
693390841 PIMCO HIGH YIELD FUN	755,217	830,191
74440Y884 PGIM HIGH YIELD-Q	825,570	961,494
92206C771 VANGUARD MORTGAGE-BA	294,467	294,141
92206C870 VANGUARD INT-TERM CO	289,351	293,751

Name of Stock	End of Year Book Value	End of Year Fair Market Value
156782104 CERNER CORP
256677105 DOLLAR GENERAL CORP	28,018	81,176
302130109 EXPEDITORS INTL WASH	13,870	35,381
438516106 HONEYWELL INTERNATIO	26,180	61,045
464287465 ISHARES MSCI EAFE ET	267,879	340,431
641069406 NESTLE SA-SPONS ADR	17,794	36,518
681919106 OMNICOM GROUP	50,850	43,971
693718108 PACCAR INC	24,502	47,885
743315103 PROGRESSIVE CORP	32,809	42,518
806857108 SCHLUMBERGER LTD	60,314	24,340
854502101 STANLEY BLACK & DECK
904767704 UNILEVER PLC-SPONSOR	48,389	62,171
922908629 VANGUARD MID-CAP ETF	791,673	1,573,520
20030N101 COMCAST CORP-CLASS A	73,509	86,617
46625H100 JPMORGAN CHASE & CO	33,166	61,248
78462F103 SPDR S&P 500 ETF TRU	2,130,642	4,216,619
91324P102 UNITEDHEALTH GROUP I	13,500	66,279
G1151C101 ACCENTURE PLC-CL A	7,174	34,480
H84989104 TE CONNECTIVITY LTD
084670702 BERKSHIRE HATHAWAY I	47,562	114,080
48129C207 JPM GL RES ENH IDX F
74834L100 QUEST DIAGNOSTICS IN	62,474	74,600
872540109 TJX COMPANIES INC	30,052	59,071
256746108 DOLLAR TREE INC	65,113	76,492
464287309 ISHARES S&P 500 GROW	557,383	953,918
464287408 ISHARES S&P 500 VALU	516,019	658,279
574599106 MASCO CORP	65,843	94,535
693506107 PPG INDUSTRIES INC	35,607	51,775
713448108 PEPSICO INC	27,034	40,041
46641Q696 JPMORGAN BETABUILDER	436,793	487,716
46641Q712 JPMORGAN BETABUILDER	502,478	645,456
67077M108 NUTRIEN LTD
83175M205 SMITH & NEPHEW PLC -	42,198	47,062
H1467J104 CHUBB LTD	58,289	65,878
09857L108 BOOKING HOLDINGS INC	55,525	69,045
14019V606 AMER FNDS INTL VNTG-	189,962	265,947
40416M105 HD SUPPLY HOLDINGS I
665859104 NORTHERN TRUST CORP	45,065	46,943
808513105 SCHWAB (CHARLES) COR	45,343	63,118
83002G306 SIX CIRCLES US UNCON	1,387,299	1,835,740
83002G405 SIX CIRCLES INTL UNC	978,835	1,052,326
844741108 SOUTHWEST AIRLINES C
G29183103 EATON CORP PLC	44,846	58,028
291011104 EMERSON ELECTRIC CO	12,908	22,102
315911750 FIDELITY 500 INDEX-I	573,226	686,132
46434G103 ISHARES CORE MSCI EM	382,347	429,007
46641Q720 JPMORGAN BETABUILDER	363,980	425,286
500472303 KONINKLIJKE PHILIPS	55,981	65,004
595112103 MICRON TECHNOLOGY IN	30,608	45,709
835699307 SONY CORP-SPONSORED	53,361	81,689

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
425955911 RIVERSTONE GLOBAL EN	AT COST	327,628	134,211
468213962 DFJ GROWTH 2013 PRIV	AT COST	229,615	1,055,732
482924925 KKR NORTH AMERICA XI	AT COST		420,298
484981964 GSO PRIVATE INVESTOR	AT COST	61,123	47,041
510000920 LC ASIA PRIVATE INVE	AT COST		242,645
811711969 STARWOOD SOF IX PRIV	AT COST		139,163
827994922 SILVER LAKE PARTNERS	AT COST	86,815	745,952
976491910 THE WINTON FUND LIMI
986903920 SCULPTOR OF II PRIVA	AT COST	125,159	245,344
8V1304918 STARWOOD SOF XI PRIV	AT COST	195,232	203,597
179172911 CRP VIII (CARLYLE) P	AT COST	103,815	111,836
4RF012923 CD&R FUND X PRIVATE	AT COST	138,539	200,439
551252919 ARES PCS PRIVATE INV	AT COST	182,105	210,232
270214084 BLACKSTONE - GSO CAP	AT COST	68,820
464287564 ISHARES COHEN & STEE	AT COST	298,129	326,190
651912933 NEWBROOK CAPITAL OFF	AT COST	590,000	758,955
98672C914 BREP ASIA II PRIVATE	AT COST	107,256	117,261
HFGHLARZ4 GOOD HILL OVERSEAS F
HFLCPBGP7 LAKEWOOD CAPITAL OFF
HFLCPBNF1 LAKEWOOD CAPITAL OFF
HFTACAPL8 TACONIC OPPORTUNITY	AT COST	400,000	433,132
HFTPPBQN4 THIRD POINT OFFSHORE	AT COST	400,000	463,913
HFVARANA5 VARDE CREDIT PARTNER	AT COST	400,000	409,837
HFWNTBRA8 THE WINTON FUND LIMI
2F7F6S982 FORT GLOBAL OFFSHORE
2F7G6S915 FORT GLOBAL OFFSHORE
325628915 BSREP III (BROOKFIEL	AT COST	182,439	179,660
426315917 BREP IX PRIVATE INVE	AT COST	114,433	132,385
612312918 WP GROWTH PRIVATE IN	AT COST	248,600	247,128
632569919 AP X PRIVATE INVESTO	AT COST	5,400	5,400
HFMRNAKM9 MARINER ATLANTIC, LT
2F7F6S966 FORT GLOBAL OFFSHORE	AT COST	450,000	470,555
456297944 LAKEWOOD CAPITAL OFF	AT COST	600,000	585,278
523642916 GOOD HILL OVERSEAS F	AT COST	300,000	302,210
5M4217912 MARINER ATLANTIC, LT	AT COST	300,000	352,073
HEBHDAA89 BREVAN HOWARD FUND L	AT COST		13,323
HEBHDABC9 BREVAN HOWARD FUND L	AT COST	300,000	288,589
PEASFAAC6 ASF VIII PRIVATE INV	AT COST	101,345	110,480

Description	Amount
2020 TRANSACTIONS POSTED IN 2021	29,748
ROUNDING	6

Category	Amount	Net Investment Income
FOREIGN TAXES	870	870
FEDERAL TAX PAYMENT - PRIOR YE	19,634	0
FEDERAL ESTIMATES - INCOME	17,493	0
FOREIGN TAXES ON QUALIFIED FOR	6,543	6,543
FOREIGN TAXES ON NONQUALIFIED	682	682