TY 2020 Form 990

- TIN:

SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization

WALTERS ART GALLERY END

Employer identification number

52-6021290

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990 or 990-EZ).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................1

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iii) Type of organization (described on lines 1- 10 above (see instructions))	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN		Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(A) TRUSTEES OF WALTER'S ART MUSEUM	526002611	6	Yes		2,044,488	0

Total 1					2,044,488	0

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2020

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..
6	Public support. Subtract line 5 from line 4.

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
7	Amounts from line 4..
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10

Gross receipts from related activities, etc. (see instructions) ..................

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2020 (line 6, column (f) divided by line 11, column (f)) .........

Public support percentage for 2019 Schedule A, Part II, line 14 ...............

16a

33 1/3% support test—2020. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2019. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2020. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2019. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990 or 990-EZ) 2020

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support. (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2016	(b) 2017	(c) 2018	(d) 2019	(e) 2020	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2020 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2019 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2020 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2019 Schedule A, Part III, line 17 .............

19a

331/3% support tests—2020. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2019. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2020

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Yes

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990 or 990-EZ) 2020

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described in 11a above?

11b

A 35% controlled entity of a person described in line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Yes

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Yes

Did the activities described in line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Yes

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2020

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1	0
2	Enter 85% of line 1	2	0
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3	0
4	Enter greater of line 2 or line 3	4	0
5	Income tax imposed in prior year	5	0
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6	0

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2020

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2020 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2020	(iii) Distributable Amount for 2020
1 Distributable amount for 2020 from Section C, line 6
2 Underdistributions, if any, for years prior to 2019 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2020:
a From 2015.......
b From 2016.......
c From 2017.......
d From 2018.......
e From 2019.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2020 distributable amount
i Carryover from 2015 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2020 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2020 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2020, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2020. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2021. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2016.....
b Excess from 2017.....
c Excess from 2018.....
d Excess from 2019.....
e Excess from 2020.....

Schedule A (Form 990 or 990-EZ) (2020)

Schedule A (Form 990 or 990-EZ) 2020

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
SCHEDULE A, PART VI, LINES 2A AND 2B	The organization has been established in 1931 under the Will of Henry Walters, who left his art gallery, The Walters Art Gallery, to the Mayor and City Council of Baltimore, as well as an endowment, ie this filing organization, for the maintenance and upkeep of the gallery.
SCHEDULE A, PART IV, LINE 6	The supported organization has requested that the annual distributions be sent to a related foundation
SCHEDULE A, PART IV, SECTION D , LINE 2	PNC , as the corporate trustee, maintains regular communications with the supported organization regarding financial statements and distribution scheduling.

Schedule A (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
SchDMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

Name of the organization

WALTERS ART GALLERY END

Employer identification number

52-6021290

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... SchDMd Bullet

(ii)

Assets included in Form 990, Part X ............................... SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2020

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Term endowment SchDMd Bullet

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .......................

3a(i)

(ii) Related organizations .......................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....
b	Buildings ....
c	Leasehold improvements
d	Equipment ....
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..

Schedule D (Form 990) 2020

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3) Other (A) 1317205 AIA GROUP LTD SPONSORED ADR	19,246	C
(B) 8492100 AGREE RLTY CORP REIT	44,682	C
(C) 9066101 AIRBNB INC-CLASS A	41,692	C
(D) 9126202 AIR LIQUIDE ADR	17,348	C
(E) 9158106 AIR PRODUCTS & CHEMICALS IN	52,612	C
(F) 11311107 ALAMO GROUP INC	37,585	C
(G) 23135106 AMAZON COM INC	792,898	C
(H) 32654105 ANALOG DEVICES INC	162,292	C
(I) 37833100 APPLE INC	599,536	C
(J) 41232109 ARKEMA ADR W/I SPONSORED A	13,866	C
(K) 45387107 ASSA ABLOY AB UNSP ADR	39,142	C
(L) 52769106 AUTODESK INC	307,889	C
(M) 52800109 AUTOLIV INC	9,641	C
(N) 57665200 BALCHEM CORP CL B	32,957	C
(O) 58498106 BALL CORPORATION	119,109	C
(P) 68334101 BARRATT DEVELOPMENTS-UNS A	15,211	C
(Q) 90572207 BIO RAD LABORATORIES INC C	124,704	C
(R) 99406100 BOOT BARN HOLDINGS INC	35,752	C
(S) XXX-XX-XXXX BRENNTAG AG-UNSP ADR ADR	29,138	C
(T) XXX-XX-XXXX BRIDGESTONE CORP UNSPONS	34,056	C
(U) XXX-XX-XXXX BRIGHT HORIZONS FAMILY SO	47,414	C
(V) XXX-XX-XXXX BROOKFIELD ASSET MANAGEME	296,806	C
(W) XXX-XX-XXXX BROOKS AUTOMATION INC	56,777	C
(X) XXX-XX-XXXX BROWN & BROWN INC	97,898	C
(Y) XXX-XX-XXXX BROWN FORMAN CORP CLASS B	44,769	C
(Z) XXX-XX-XXXX BUNZL PLC SPONS ADR	32,131	C
(AA) XXX-XX-XXXX CACI INTL INC CL A	44,869	C
(AB) XXX-XX-XXXX CADENCE DESIGN SYSTEMS IN	131,441	C
(AC) XXX-XX-XXXX CARMAX INC	251,141	C
(AD) XXX-XX-XXXX CARVANA CO	147,686	C
(AE) XXX-XX-XXXX CATHAY GENERAL BANCORP	67,483	C
(AF) XXX-XX-XXXX CENTRAL GARDEN & PET CO	16,111	C
(AG) XXX-XX-XXXX CENTRAL GARDEN AND PET CO	65,175	C
(AH) XXX-XX-XXXX CERENCE INC-WI	38,669	C
(AI) XXX-XX-XXXX CHIPOTLE MEXICAN GRIL CL	155,819	C
(AJ) XXX-XX-XXXX CHURCHILL DOWNS INC	25,561	C
(AK) XXX-XX-XXXX CHUY'S HOLDINGS INC	27,924	C
(AL) XXX-XX-XXXX COGNEX CORP	14,760	C
(AM) XXX-XX-XXXX COLFAX CORP	34,985	C
(AN) XXX-XX-XXXX COPART INC	164,227	C
(AO) XXX-XX-XXXX CREDIT ACCEPTANCE CORPORA	160,703	C
(AP) XXX-XX-XXXX CRYOLIFE INC	56,774	C
(AQ) XXX-XX-XXXX CRYOPORT INC	20,771	C
(AR) XXX-XX-XXXX DANAHER CORP	269,817	C
(AS) XXX-XX-XXXX DESCARTES SYS GROUP INC I	21,606	C
(AT) XXX-XX-XXXX DEUTSCHE BOERSE AG UNSPN	10,415	C
(AU) XXX-XX-XXXX DEXCOM INC	87,965	C
(AV) XXX-XX-XXXX DOLLAR GENERAL CORP	37,321	C
(AW) XXX-XX-XXXX DYNATRACE INC	150,987	C
(AX) XXX-XX-XXXX ECOLAB INC	110,903	C
(AY) XXX-XX-XXXX FASTENAL CO	111,519	C
(AZ) XXX-XX-XXXX GARTNER INC	149,394	C
(BA) XXX-XX-XXXX GLOBUS MEDICAL INC A	43,396	C
(BB) XXX-XX-XXXX HAEMONETICS CORP	51,438	C
(BC) XXX-XX-XXXX HEARTLAND EXPRESS INC	35,525	C
(BD) XXX-XX-XXXX HEICO CORP NEW CL A	105,458	C
(BE) XXX-XX-XXXX HEINEKEN NV ADR	44,527	C
(BF) XXX-XX-XXXX HOME DEPOT INC	320,341	C
(BG) XXX-XX-XXXX HORACE MANN EDUCATORS COR	77,041	C
(BH) XXX-XX-XXXX HOULIHAN LOKEY INC	47,195	C
(BI) XXX-XX-XXXX HOYA CORP SPONSORED ADR	20,786	C
(BJ) XXX-XX-XXXX HYATT HOTELS CORP CL A	73,236	C
(BK) XXX-XX-XXXX IDACORP INC	48,314	C
(BL) XXX-XX-XXXX INFOSYS LTD SPONSORED ADR	28,487	C
(BM) XXX-XX-XXXX INTEGRA LIFESCIENCES HLDG	53,535	C
(BN) XXX-XX-XXXX INTUIT SOFTWARE	202,242	C
(BO) XXX-XX-XXXX KAO CORP ADR SEDOL BFZPL1	11,911	C
(BP) XXX-XX-XXXX KENNEDY WILSON HOLDINGS I	56,938	C
(BQ) XXX-XX-XXXX KERING S A ADR	148,790	C
(BR) XXX-XX-XXXX KERRY GROUP PLC-SPONS ADR	42,082	C
(BS) XXX-XX-XXXX KONINKLIJKE PHILLIPS NV S	24,589	C
(BT) XXX-XX-XXXX L OREAL CO UNSPONSORED AD	10,953	C
(BU) XXX-XX-XXXX LVMH MOET HENNESSY LOUIS	270,904	C
(BV) XXX-XX-XXXX LAUDER ESTEE COS INC CL A	202,931	C
(BW) XXX-XX-XXXX LENNAR CORP CLASS A	129,421	C
(BX) XXX-XX-XXXX LIBERTY BROADBAND-A	33,510	C
(BY) XXX-XX-XXXX LIBERTY BROADBAND-C	163,293	C
(BZ) XXX-XX-XXXX LIBERTY SIRIUSXM SERIES A	15,882	C
(CA) XXX-XX-XXXX LIBERTY SIRIUSXM SERIES C	49,880	C
(CB) XXX-XX-XXXX LIBERTY FORMULA ONE SERIE	78,327	C
(CC) XXX-XX-XXXX LIBERTY FORMULA ONE SERIE	4,149	C
(CD) XXX-XX-XXXX LITHIA MTRS INC CL A	37,662	C
(CE) XXX-XX-XXXX LIVE NATION ENTERTAINMENT	117,147	C
(CF) XXX-XX-XXXX LULULEMON ATHLETICA INC	161,079	C
(CG) XXX-XX-XXXX MARKEL CORP (HOLDING CO)	180,939	C
(CH) XXX-XX-XXXX MARTIN MARIETTA MATLS INC	106,661	C
(CI) XXX-XX-XXXX METTLER TOLEDO INTL INC	120,949	C
(CJ) XXX-XX-XXXX MICROSOFT CORP	500,535	C
(CK) XXX-XX-XXXX MICROCHIP TECHNOLOGY INC	101,165	C
(CL) XXX-XX-XXXX MINERALS TECHNOLOGIES INC	48,465	C
(CM) XXX-XX-XXXX MONOLITHIC POWER SYSTEMS	120,783	C
(CN) XXX-XX-XXXX MOODY'S CORP	68,572	C
(CO) XXX-XX-XXXX MOTOROLA SOLUTIONS INC	85,496	C
(CP) XXX-XX-XXXX NIKE INC CLASS B	431,723	C
(CQ) XXX-XX-XXXX NORDSON CORPORATION	101,684	C
(CR) XXX-XX-XXXX NORTHWESTERN CORPORATION	50,176	C
(CS) XXX-XX-XXXX OCEANFIRST FINANCIAL CORP	29,581	C
(CT) XXX-XX-XXXX OLLIE'S BARGAIN OUTLET HO	42,590	C
(CU) XXX-XX-XXXX OXFORD INDUSTRIES INC	40,072	C
(CV) XXX-XX-XXXX PATRICK INDUSTRIES INC	50,117	C
(CW) XXX-XX-XXXX PERNOD RICARD SA UNSPONSO	33,838	C
(CX) XXX-XX-XXXX PROGRESSIVE CORP OHIO	52,378	C
(CY) XXX-XX-XXXX PROOFPOINT INC	31,730	C
(CZ) XXX-XX-XXXX RAPID7 INC	57,770	C
(DA) XXX-XX-XXXX RECKITT BENCKISER-SPON AD	34,812	C
(DB) XXX-XX-XXXX RELX PLC ADR	32,146	C
(DC) XXX-XX-XXXX RITCHIE BROS AUCTIONEERS	32,297	C
(DD) XXX-XX-XXXX ROCHE HOLDING LTD SPONSOR	32,488	C
(DE) XXX-XX-XXXX ROGERS CORP	21,074	C
(DF) XXX-XX-XXXX ROPER TECHNOLOGIES INC	127,953	C
(DG) XXX-XX-XXXX ROSS STORES INC	60,627	C
(DH) XXX-XX-XXXX SAFRAN SA UNSPON ADR	210,045	C
(DI) XXX-XX-XXXX SAP SE SPONSORED ADR	37,053	C
(DJ) XXX-XX-XXXX SAREPTA THERAPEUTICS INC	59,509	C
(DK) XXX-XX-XXXX SEACOAST BANKING CORP OF	75,259	C
(DL) XXX-XX-XXXX SGS S.A. UNSPONSORED ADR	10,989	C
(DM) XXX-XX-XXXX SHYFT GROUP INC/THE	23,274	C
(DN) XXX-XX-XXXX SILICON LABORATORIES INC	54,595	C
(DO) XXX-XX-XXXX SILGAN HLDGS INC	24,217	C
(DP) XXX-XX-XXXX SKYLINE CHAMPION CORP	72,228	C
(DQ) XXX-XX-XXXX SNOWFLAKE INC-CLASS A	117,967	C
(DR) XXX-XX-XXXX SPLUNK INC	74,017	C
(DS) XXX-XX-XXXX SQUARE INC - A	465,808	C
(DT) XXX-XX-XXXX STARBUCKS CORP	104,520	C
(DU) XXX-XX-XXXX STIFEL FINL CORP	35,246	C
(DV) XXX-XX-XXXX SUPERNUS PHARMACEUTICALS	48,905	C
(DW) XXX-XX-XXXX TJX COMPANIES INC NEW	200,126	C
(DX) XXX-XX-XXXX TAIWAN SEMICONDUCTOR MTG	243,924	C
(DY) XXX-XX-XXXX TEXAS ROADHOUSE INC	25,545	C
(DZ) XXX-XX-XXXX THERMO FISHER SCIENTIFIC	194,676	C
(EA) XXX-XX-XXXX TOKIO MARINE HOLDINGS ADR	17,787	C
(EB) XXX-XX-XXXX TOYOTA MTR CORP ADR 2 COM	27,037	C
(EC) XXX-XX-XXXX TRANSDIGM GROUP INC	309,278	C
(ED) XXX-XX-XXXX TYLER TECHNOLOGIES INC	144,215	C
(EE) XXX-XX-XXXX UNILEVER PLC W/I SPONSORE	32,292	C
(EF) XXX-XX-XXXX UNION PACIFIC CORP	183,548	C
(EG) XXX-XX-XXXX VIAVI SOLUTIONS INC -W/I	57,404	C
(EH) XXX-XX-XXXX VORNADO REALTY TRUST	28,020	C
(EI) XXX-XX-XXXX VULCAN MATERIALS CO	221,822	C
(EJ) XXX-XX-XXXX WEST PHARMACEUTICAL SVCS	189,693	C
(EK) XXX-XX-XXXX WILLSCOT MOBILE MINI HLDG	26,012	C
(EL) XXX-XX-XXXX WOLVERINE WORLD WIDE INC	23,900	C
(EM) 00206RDR0 AT&T INC CALL 09/01/2036	33,892	C
(EN) 00287YBD0 ABBVIE INC CALL 05/14/204	25,886	C
(EO) 00687A107 ADIDAS AG SPONSORED ADR	16,544	C
(EP) 00724F101 ADOBE INC	319,751	C
(EQ) 00751YAF3 ADVANCE AUTO PARTS CALL 0	29,963	C
(ER) 00774MAB1 AERCAP IRELAND CAP/GLOBA	38,086	C
(ES) 00783V104 ADYEN NV-UNSPON ADR SEDOL	210,110	C
(ET) 00846U101 AGILENT TECHNOLOGIES (IPO	32,363	C
(EU) 01748X102 ALLEGIANT TRAVEL CO	53,033	C
(EV) 02005AGP7 ALLY MASTER OWNER TRUST S	50,247	C
(EW) 02079K107 ALPHABET INC/CA-CL C	185,152	C
(EX) 02079K305 ALPHABET INC/CA-CL A	376,418	C
(EY) 023135AQ9 AMAZON.COM INC CALL 06/05	13,023	C
(EZ) 03027X100 AMERICAN TOWER CORP	230,105	C
(FA) 03027XBD1 AMERICAN TOWER CORP CALL	14,852	C
(FB) 03040WAQ8 AMERICAN WATER CAPITAL C	25,411	C
(FC) 03066EAE4 AMERICREDIT AUTOMOBILE RE	19,999	C
(FD) 03066KAE0 AMERICREDIT AUTOMOBILE RE	49,996	C
(FE) 03071H100 AMERISAFE INC	38,655	C
(FF) 03076K108 AMERIS BANCORP	70,492	C
(FG) 03522AAH3 ANHEUSER-BUSCH CO/INBEV S	5,294	C
(FH) 03522AAJ9 ANHEUSER-BUSCH CO/INBEV S	30,164	C
(FI) 03662Q105 ANSYS INC	148,633	C
(FJ) 04686JAC5 ATHENE HOLDING LTD SEDOL	34,873	C
(FK) 04963C209 ATRICURE INC	45,268	C
(FL) 05368V106 AVIENT CORPORATION	100,437	C
(FM) 054561AJ4 AXA EQUITABLE HOLDINGS I	16,731	C
(FN) 05541TAP6 BGC PARTNERS INC CALL 09/	36,859	C
(FO) 05578DAG7 BPCE SA SEDOL ISIN US0557	30,976	C
(FP) 059438AG6 BANK ONE CORP SUBORD	22,678	C
(FQ) 06051GHM4 BANK OF AMERICA CORP CALL	17,660	C
(FR) 075887AN9 BECTON DICKINSON CO DEB	23,358	C
(FS) 08161BAY9 BENCHMARK MORTGAGE TRUST	59,088	C
(FT) 08162UAW0 BENCHMARK MTG TRUST SERIE	53,716	C
(FU) 09215C105 BLACK KNIGHT INC-WHEN ISS	196,729	C
(FV) 09260B630 BLACKROCK HIGH YIELD BOND	1,635,807	C
(FW) 093662AH7 BLOCK FINANCIAL LLC CALL	27,081	C
(FX) 11133TAC7 BROADRIDGE FINANCIAL SOL	25,899	C
(FY) 11133TAD5 BROADRIDGE FINANCIAL SOL	32,745	C
(FZ) 11275Q107 BROOKFIELD INFRASTRUCTURE	101,074	C
(GA) 11282X103 BROOKFIELD PPTY REIT INC	24,677	C
(GB) 11284V105 BROOKFIELD RENEWABLE COR	7,287	C
(GC) 115236AC5 BROWN & BROWN INC CALL 12	25,024	C
(GD) 120568BB5 BUNGE LTD FINANCE CORP CA	30,225	C
(GE) 12189LAU5 BURLINGTN NORTH SANTA FE	9,945	C
(GF) 12504L109 CBRE GROUP INC	127,174	C
(GG) 12517LAA2 CES MU2 LLC GOVT	42,020	C
(GH) 12517LAB0 CES MU2 LLC GOVT	21,426	C
(GI) 12591RAX8 COMM MORTGAGE TRUST SERIE	13,358	C
(GJ) 12592BAJ3 CNH INDUSTRIAL CAP LLC CO	21,122	C
(GK) 12597PAC2 CNH EQUIPMENT TRUST SERIE	24,995	C
(GL) 12624BAG1 COMMERICAL MTG PASS THROU	41,141	C
(GM) 12624KAF3 COMM MORTGAGE TRUST SERIE	41,381	C
(GN) 12626K203 CRH PLC ADR	52,939	C
(GO) 12637BAD3 CNH EQUIPMENT TRUST SERIE	6,287	C
(GP) 126650BP4 CVS PASS THROUGH TRUST PA	23,514	C
(GQ) 13063BJC7 CALIFORNIA ST BUILD AMERI	30,559	C
(GR) 134429BK4 CAMPBELL SOUP CO CALL 10/	40,273	C
(GS) 13765N107 CANNAE HOLDINGS INC	20,829	C
(GT) 14687AAQ1 CARVANA AUTO RECEIVABLES	29,998	C
(GU) 14843C105 CASTLE BIOSCIENCES INC	31,521	C
(GV) 161175BA1 CHARTER COMM OPT LLC/CAP	20,724	C
(GW) 16679L109 CHEWY INC - CLASS A	172,861	C
(GX) 172967MQ1 CITIGROUP IN SR UNSEC CAL	30,000	C
(GY) 17320DAN8 CITIGROUP COMMERCIAL MORT	15,731	C
(GZ) 17321RAD8 CITIGROUP COMMERCIAL MORT	84,758	C
(HA) 17326DAD4 CITIGROUP COMMERCIAL MORT	39,472	C
(HB) 191216CY4 COCA-COLA CO/THE CALL 12/	34,974	C
(HC) 19247A100 COHEN & STEERS INC	28,975	C
(HD) 20030NAV3 COMCAST CORP CO GUARNT	12,422	C
(HE) 20268JAD5 COMMONSPIRIT HEALTH CALL	25,129	C
(HF) 20451N101 COMPASS MINERALS INTL INC	44,256	C
(HG) 205887CD2 CONAGRA BRANDS INC CALL 0	35,871	C
(HH) 21685WDF1 RABOBANK NEDERLAND ISIN U	20,349	C
(HI) 22160K105 COSTCO WHOLESALE CORP	140,900	C
(HJ) 22160N109 COSTAR GROUP INC	210,221	C
(HK) 22266L106 COUPA SOFTWARE INC	106,517	C
(HL) 22304C100 COVETRUS INC-WHEN ISSUED	70,477	C
(HM) 22788C105 CROWDSTRIKE HOLDINGS INC	106,821	C
(HN) 228023AB3 CROWLEY CONRO LLC GOVT	33,283	C
(HO) 23304Y100 DBS GROUP HLDGS LTD SPONS	29,102	C
(HP) 23331ABP3 D.R. HORTON INC CALL 08/1	24,928	C
(HQ) 23381B106 DAIKIN INDS LTD ADR	9,550	C
(HR) 24906PAA7 DENTSPLY SIRONA INC CALL	27,106	C
(HS) 25243Q205 DIAGEO PLC SPONSORED ADR	31,870	C
(HT) 25470DAS8 DISCOVERY COMMUNICATIONS	15,283	C
(HU) 25754A201 DOMINO'S PIZZA, INC.	118,659	C
(HV) 26818LAB6 DY9 LEASING LLC GOVT	41,041	C
(HW) 278642AF0 EBAY INC SR UNSEC	28,178	C
(HX) 28176E108 EDWARDS LIFESCIENCES CORP	120,113	C
(HY) 29089Q105 EMERGENT BIOSOLUTIONS INC	71,825	C
(HZ) 29250N105 ENBRIDGE INC SEDOL 247890	11,961	C
(IA) 29260V105 ENDAVA PLC- SPON ADR SEDO	85,677	C
(IB) 29365TAD6 ENTERGY TEXAS INC CALL 06	25,568	C
(IC) 29379VBA0 ENTERPRISE PRODUCTS OPER	29,269	C
(ID) 29444U700 EQUINIX INC	87,089	C
(IE) 29444UBE5 EQUINIX INC CALL 08/18/20	37,070	C
(IF) 29444UBH8 EQUINIX INC CALL 04/15/20	20,403	C
(IG) 29670GAE2 ESSENTIAL UTILITIES INC C	32,944	C
(IH) 29766DAF1 ETHIOPIAN LEASING 2012 GO	32,089	C
(II) 29786A106 ETSY INC	87,688	C
(IJ) 30303M102 FACEBOOK INC	504,984	C
(IK) 30744W107 FARFETCH LTD-CLASS A SEDO	62,630	C
(IL) 3128MDK44 FEDERAL HOME LOAN MTG COR	12,274	C
(IM) 3128MJYC8 FEDERAL HOME LOAN MTG COR	17,105	C
(IN) 3128MMSK0 FEDERAL HOME LOAN MTG COR	11,931	C
(IO) 3128P8DJ7 FEDERAL HOME LOAN MTG COR	25,873	C
(IP) 31292LPX7 FEDERAL HOME LOAN MTG COR	14,600	C
(IQ) 3132CWN67 FEDERAL HOME LOAN MTG COR	55,503	C
(IR) 3132KFYG1 FEDERAL HOME LOAN MTG COR	19,176	C
(IS) 3133D3L94 FEDERAL HOME LOAN MTG COR	49,867	C
(IT) 3137BKW30 FHLMC MULTIFAMILY STRUCTU	1,489	C
(IU) 3137F3RG1 FEDERAL HOME LOAN MTG COR	7,948	C
(IV) 3137FAWS3 FHLMC MULTIFAMILY STRUCTU	35,674	C
(IW) 3138ABYR4 FEDERAL NATL MTG ASSN POO	13,214	C
(IX) 3138LYPM3 FEDERAL NATL MTG ASSN POO	14,757	C
(IY) 3138M3RR7 FEDERAL NATL MTG ASSN POO	19,226	C
(IZ) 3138M5LP2 FEDERAL NATL MTG ASSN POO	14,226	C
(JA) 3138MGBP9 FEDERAL NATL MTG ASSN POO	20,720	C
(JB) 3138WFY59 FEDERAL NATL MTG ASSN POO	21,674	C
(JC) 3138WFYH3 FEDERAL NATL MTG ASSN POO	11,627	C
(JD) 3138WJXN3 FEDERAL NATL MTG ASSN POO	29,041	C
(JE) 3138WPLH5 FEDERAL NATL MTG ASSN POO	32,372	C
(JF) 3140F0JX3 FEDERAL NATL MTG ASSN POO	26,530	C
(JG) 3140JAJ58 FEDERAL NATL MTG ASSN POO	17,019	C
(JH) 3140QE6M9 FEDERAL NATL MTG ASSN POO	61,483	C
(JI) 3140X5NF6 FEDERAL NATL MTG ASSN POO	21,434	C
(JJ) 3140X7ZW2 FEDERAL NATL MTG ASSN POO	73,388	C
(JK) 3140X8D61 FEDERAL NATL MTG ASSN POO	56,160	C
(JL) 31416XBP4 FEDERAL NATL MTG ASSN POO	15,462	C
(JM) 31416XJX9 FEDERAL NATL MTG ASSN POO	18,472	C
(JN) 31418CV27 FEDERAL NATL MTG ASSN POO	11,819	C
(JO) 31418DSS2 FEDERAL NATL MTG ASSN POO	45,489	C
(JP) 31418DT93 FEDERAL NATL MTG ASSN POO	55,476	C
(JQ) 31418DUA8 FEDERAL NATL MTG ASSN POO	61,457	C
(JR) 31419BCT0 FEDERAL NATL MTG ASSN POO	12,921	C
(JS) 31423A671 FEDERATED HERMES INTERNAT	2,045,000	C
(JT) 31502A303 FERGUSON NEWCO PLC ADR SE	23,662	C
(JU) 31620R303 FNF GROUP-W/I	107,176	C
(JV) 33616C100 FIRST REPUBLIC BANK/FRAN	70,587	C
(JW) 33829M101 FIVE BELOW	13,342	C
(JX) 341271AE4 FLORIDA ST BRD OF ADMIN F	50,588	C
(JY) 34528QHQ0 FORD CREDIT FLOORPLAN MAS	50,002	C
(JZ) 34959J108 FORTIVE CORP	140,363	C
(KA) 36158FAA8 GE GLOBAL INS HLDG CORP N	16,842	C
(KB) 3622AAJS4 GOVT NATL MTG ASSN POOL #	13,311	C
(KC) 362569AE5 GM FINANCIAL AUTOMOBILE L	24,995	C
(KD) 36257AAG6 GM FINANCIAL AUTOMOBILE L	50,466	C
(KE) 36259PAG1 GM FINANCIAL AUTOMOBILE L	51,621	C
(KF) 37045VAV2 GENERAL MOTORS CO CALL 09	22,331	C
(KG) 37045XCG9 GENERAL MOTORS FINL CO CA	21,006	C
(KH) 37636P108 GIVUADAN USNPON ADR MARKE	3,673	C
(KI) 37637Q105 GLACIER BANCORP INC	47,798	C
(KJ) 37940XAD4 GLOBAL PAYMENTS INC CALL	30,733	C
(KK) 38141GFD1 GOLDMAN SACHS GROUP INC S	49,759	C
(KL) 38378BAV1 GOVERNMENT NATIONAL MORTG	6,625	C
(KM) 38378BX20 GOVERNMENT NATIONAL MORTG	6,562	C
(KN) 38379KKM9 GOVERNMENT NATIONAL MORTG	32,352	C
(KO) 38379RTQ6 GOVERNMENT NATIONAL MORTG	17,236	C
(KP) 38379UCY0 GNMA REMIC TRUST SERIES 2	18,611	C
(KQ) 38380M6G1 GOVERNMENT NATIONAL MORTG	7,004	C
(KR) 38526M106 GRAND CANYON EDUCATION IN	26,518	C
(KS) 38611TDL8 GRAND PARKWAY TRANSPRTN C	15,000	C
(KT) 40131M109 GUARDANT HEALTH INC	44,506	C
(KU) 40171V100 GUIDEWIRE SOFTWARE INC	148,795	C
(KV) 40415F101 HDFC BANK LTD SPON - ADR	27,120	C
(KW) 40426UAA3 HNA 2015 LLC GOVT	40,243	C
(KX) 40637H109 HALOZYME THERAPEUTICS INC	39,096	C
(KY) 413875AR6 HARRIS CORPORATION CALL 0	24,480	C
(KZ) 414008CU4 HARRIS CNTY TX CULTURAL E	30,000	C
(LA) 41978CAR6 HAWAII ST ARPTS SYS CUSTO	25,101	C
(LB) 41978CBK0 HAWAII ST ARPTS SYS CUSTO	20,000	C
(LC) 42226A107 HEALTHEQUITY INC	55,899	C
(LD) 42328BAA0 HELIOS LEASING I LLC GOVT	31,100	C
(LE) 42328BAC6 HELIOS LEASING I LLC US G	32,162	C
(LF) 42328H109 HELIOS TECHNOLOGIES INC	61,793	C
(LG) 42824CBK4 HP ENTERPRISE CO UNSC	40,148	C
(LH) 43300A203 HILTON WORLDWIDE HLDGS -	236,999	C
(LI) 44107HAF9 HOSPITAL SPECIAL SURGERY	28,442	C
(LJ) 44267D107 HOWARD HUGHES CORP THE-W	105,530	C
(LK) 442851AH4 HOWARD UNIVERSITY SER 202	15,000	C
(LL) 44925C103 ICF INTERNATIONAL INC	47,244	C
(LM) 44930G107 ICU MED INC	7,144	C
(LN) 45167RAG9 IDEX CORP CALL 02/01/2030	14,973	C
(LO) 45168D104 IDEXX LABS INC	262,590	C
(LP) 45662N103 INFINEON TECHNOLOGIES ADR	15,104	C
(LQ) 457187AD4 INGREDION INC CALL 12/01/	43,496	C
(LR) 45866FAP9 INTERCONTINENTALEXCHANGE	19,864	C
(LS) 46120E602 INTUITIVE SURGICAL INC	82,523	C
(LT) 46634SAF2 JP MORGAN CHASE COMMERCIA	36,310	C
(LU) 47789KAC7 JOHN DEERE OWNER TRUST SE	19,999	C
(LV) 478045AA5 JOHN SEVIER COMB CYCLE SE	32,956	C
(LW) 478111AC1 JOHNS HOPKINS HEALTH SYS	35,483	C
(LX) 48137C108 JULIS BAER GROUP LTD UN S	24,187	C
(LY) 48241F104 KBC GROEP NV UNSP ADR	33,812	C
(LZ) 482480AH3 KLA-TENCOR CORP CALL 09/1	19,682	C
(MA) 48251W104 KKR & CO INC CLASS A	259,283	C
(MB) 49338LAF0 KEYSIGHT TECHNOLOGIES CAL	31,398	C
(MC) 49456BAR2 KINDER MORGAN INC CALL 11	24,765	C
(MD) 50077LAB2 KRAFT HEINZ FOODS CO CALL	14,646	C
(ME) 501044DN8 KROGER CO CALL 07/15/2049	22,598	C
(MF) 50187A107 LHC GROUP INC	32,017	C
(MG) 53944YAB9 LLOYDS BANK PLC SEDOL ISI	11,259	C
(MH) 539830AZ2 LOCKHEED MARTIN CORP SR U	16,828	C
(MI) 54211N101 LONDON STOCK EXCHG-UNSP A	11,417	C
(MJ) 54338V101 LONZA GROUP AG UNSPON ADR	17,272	C
(MK) 54438CYT3 LOS ANGELES CA CMNTY CLG	20,000	C
(ML) 548661DV6 LOWES COS INC CALL 10/15/	33,375	C
(MM) 55261F104 M&T BK CORP	31,396	C
(MN) 55354G100 MSCI INC	47,829	C
(MO) 55405Y100 MACOM TECHNOLOGY SOLUTION	66,153	C
(MP) 559080AP1 MAGELLAN MIDSTREAM PARTN	16,544	C
(MQ) 559222AV6 MAGNA INTERNATIONAL INC S	14,935	C
(MR) 56501RAE6 MANULIFE FINANCIAL CORP S	23,519	C
(MS) 571903BE2 MARRIOTT INTERNATIONAL CA	16,101	C
(MT) 571903BF9 MARRIOTT INTERNATIONAL SE	14,972	C
(MU) 574599AT3 MASCO CORP UNSC	27,790	C
(MV) 57563NAD0 MASSACHUSETTS EDUCATIONAL	42,504	C
(MW) 57636Q104 MASTERCARD INC CL A	73,696	C
(MX) 57667L107 MATCH GROUP INC	373,638	C
(MY) 57772KAD3 MAXIM INTEGRATED PRODUCT	11,037	C
(MZ) 58013MEC4 MCDONALDS CORP SR UNSEC	7,035	C
(NA) 584521EM6 MED CENTER GA HOSP AUTH R	20,413	C
(NB) 58506Q109 MEDPACE HOLDINGS INC	61,281	C
(NC) 58958U103 MERIDIAN BANCORP INC	36,469	C
(ND) 59447TXW8 MICHIGAN ST FIN AUTH REVE	20,000	C
(NE) 595620AU9 MIDAMERICAN ENERGY CO CAL	17,629	C
(NF) 59562VAM9 MIDAMERICAN ENERGY HLDGS	10,131	C
(NG) 6174467X1 MORGAN STANLEY SUB	5,303	C
(NH) 6174468G7 MORGAN STANLEY SERIES GMT	17,968	C
(NI) 61761DAD4 MORGAN STANLEY BAML TRUST	32,091	C
(NJ) 61761J3R8 MORGAN STANLEY SER MTN UN	15,597	C
(NK) 61762TAE6 MORGAN STANLEY BAML TRUST	42,555	C
(NL) 620076BT5 MOTOROLA SOLUTIONS INC CA	39,966	C
(NM) 628931AB3 NBD BANK NA MICHIGAN SUBO	23,476	C
(NN) 63633D104 NATIONAL HEALTH INVS INC	40,310	C
(NO) 64110L106 NETFLIX INC	238,706	C
(NP) 6461366R7 NEW JERSEY ST TRANSPRTN T	20,000	C
(NQ) 64990FRA4 NEW YORK ST DORM AUTH ST	30,000	C
(NR) 64990GJY9 NEW YORK ST DORM AUTH REV	35,848	C
(NS) 667274AC8 NORTHWELL HEALTHCARE INC	29,135	C
(NT) 668444AM4 NORTHWESTERN UNIVERSITY U	22,878	C
(NU) 66987V109 NOVARTIS AG SPONSORED ADR	23,371	C
(NV) 67000B104 NOVANTA INC SEDOL BD8S5H8	51,636	C
(NW) 670346AR6 NUCOR CORP CALL 05/01/202	9,985	C
(NX) 67066G104 NVIDIA CORP	275,676	C
(NY) 67078AAD5 NVENT FINANCE SARL SEDOL	20,572	C
(NZ) 67103H107 O REILLY AUTOMOTIVE INC	160,044	C
(OA) 67884XCP0 OKLAHOMA ST DEV FIN AUTH	25,000	C
(OB) 680223AJ3 OLD REPUBLIC INTL CORP CA	25,634	C
(OC) 6903532R7 OVERSEAS PRIVATE INV COR	35,000	C
(OD) 690742AG6 OWENS CORNING CALL 01/15/	23,666	C
(OE) 69478X105 PACIFIC PREMIER BANCORP I	91,031	C
(OF) 70109HAJ4 PARKER-HANNIFIN CORP SR U	13,160	C
(OG) 70438V106 PAYLOCITY HOLDING CORP	33,004	C
(OH) 70450Y103 PAYPAL HOLDINGS INC-W/I	324,470	C
(OI) 70614W100 PELOTON INTERACTIVE INC-A	95,205	C
(OJ) 709235T47 PENNSYLVANIA ST UNIV SER	20,000	C
(OK) 709235T88 PENNSYLVANIA ST UNIV SER	25,371	C
(OL) 709629AR0 PENTAIR FINANCE SARL SEDO	9,939	C
(OM) 71377A103 PERFORMANCE FOOD GROUP CO	59,969	C
(ON) 71654QBD3 PETROLEOS MEXICANOS SEDOL	26,609	C
(OO) 71944F106 PHREESIA INC	45,382	C
(OP) 733911CP4 PORT OF CORPUS CHRISTI TX	20,824	C
(OQ) 740189AN5 PRECISION CASTPARTS CORP	21,219	C
(OR) 74164F103 PRIMORIS SERVICES CORP	64,235	C
(OS) 74340E103 PROGYNY INC	38,974	C
(OT) 74435K204 PRUDENTIAL PLC SPON ADR	36,225	C
(OU) 745332BX3 PUGET SOUND ENERGY INC SE	19,565	C
(OV) 74736A103 QTS REALTY TRUST INC-CL A	61,700	C
(OW) 75524B104 RBC BEARINGS INC	23,544	C
(OX) 75606N109 REALPAGE, INC.	111,746	C
(OY) 76131D103 RESTAURANT BRANDS INTERN-	154,163	C
(OZ) 76657Y101 RIGHTMOVE PLC-UNSP ADR AD	11,848	C
(PA) 775371AU1 ROHM & HAAS CO DEB	28,158	C
(PB) 78377T107 RYMAN HOSPITALITY PPTYS I	46,764	C
(PC) 78409V104 S&P GLOBAL INC	143,678	C
(PD) 78410G104 SBA COMMUNICATIONS CORP	198,729	C
(PE) 79466L302 SALESFORCE.COM	215,786	C
(PF) 798170AN6 SAN JOSE CA REDEV AGY SUC	24,283	C
(PG) 799055RJ9 SAN MATEO CA FOSTER CITY	15,000	C
(PH) 80281LAD7 SANTANDER UK GROUP HLDGS	15,001	C
(PI) 80287P100 SANTEN PHARMACEUTICAL-UN	11,362	C
(PJ) 80687P106 SCHNEIDER ELECTRIC SE	24,044	C
(PK) 81762P102 SERVICE NOW INC	156,720	C
(PL) 81762PAE2 SERVICENOW INC CALL 06/01	14,944	C
(PM) 82509L107 SHOPIFY INC - A W/I SEDOL	387,585	C
(PN) 82982L103 SITEONE LANDSCAPE SUPPLY	18,131	C
(PO) 83088V102 SLACK TECHNOLOGIES INC- C	59,493	C
(PP) 83162CB44 SMALL BUSINESS ADMINISTRA	23,479	C
(PQ) 83162CC68 SMALL BUSINESS ADMINISTRA	24,127	C
(PR) 83162CUU5 SMALL BUSINESS ADMINISTRA	34,764	C
(PS) 83162CVG5 SMALL BUSINESS ADMINISTRA	26,056	C
(PT) 83162CVR1 SMALL BUSINESS ADMINISTRA	29,985	C
(PU) 83162CZL0 SMALL BUSINESS ADMINISTRA	28,372	C
(PV) 831641FC4 SMALL BUSINESS ADMINISTRA	24,874	C
(PW) 831641FG5 SMALL BUSINESS ADMINISTRA	34,782	C
(PX) 831641FK6 SMALL BUSINESS ADMINISTRA	36,971	C
(PY) 83175M205 SMITH & NEPHEW P/C SPON A	37,082	C
(PZ) 83238P203 SMITHS GROUP PLC SPON ADR	13,857	C
(QA) 83272W106 SMURFIT KAPPA GROUP PLC-A	24,381	C
(QB) 83569C102 SONOVA HLDG AG ADR	23,195	C
(QC) 841215AA4 SOUTHAVEN CMBD CYCLE GEN	39,276	C
(QD) 843452AZ6 SOUTHERN NATURAL GAS SR U	14,163	C
(QE) 85254J102 STAG INDUSTRIES INC	72,950	C
(QF) 858119BP4 STEEL DYNAMICS INC CALL 0	14,450	C
(QG) 86476PE46 SUFFOLK CNTY NY REF-SER C	40,000	C
(QH) 86614U100 SUMMIT MATERIALS INC -CL	43,160	C
(QI) 87166B102 SYNEOS HEALTH INC	64,731	C
(QJ) 87166PAA9 SYNCHRONY CARD ISSUANCE T	49,974	C
(QK) 874060AY2 TAKEDA PHARMACEUTICAL SED	36,817	C
(QL) 87873R101 TECHTRONIC INDUSTRIES SP	18,649	C
(QM) 87875T204 TECHNOPRO HOLDINGS-SPON A	24,111	C
(QN) 87918A105 TELADOC HEALTH INC	170,356	C
(QO) 87946F100 TELEPERFORMANCE-UNSPON AD	34,665	C
(QP) 88156J105 TERUMO CORP-UNSPON ADR AD	16,413	C
(QQ) 88160R101 TESLA INC	155,938	C
(QR) 88339J105 TRADE DESK INC/THE -CLASS	101,052	C
(QS) 88731EAF7 TIME WARNER ENTMT CO SR D	21,692	C
(QT) 891160MJ9 TORONTO-DOMINION BANK SUB	16,946	C
(QU) 89151E109 TOTAL S E	24,579	C
(QV) 89156HAA5 TOTE SHIPHOLDINGS INC GOV	72,505	C
(QW) 89400J107 TRANSUNION	124,533	C
(QX) 90138F102 TWILIO INC - A	212,822	C
(QY) 90278Q108 UFP INDUSTRIES INC	20,658	C
(QZ) 90353T100 UBER TECHNOLOGIES INC	273,569	C
(RA) 907825AA1 UNION PACIFIC RR CO SER 1	21,832	C
(RB) 912810RH3 USA TREASURY NOTES 03.125	19,746	C
(RC) 912810SR0 USA TREASURY NOTES 01.125	92,940	C
(RD) 9128282A7 USA TREASURY NOTES 01.500	78,953	C
(RE) 9128283V0 USA TREASURY NOTES 02.500	62,374	C
(RF) 9128284G2 USA TREASURY NOTES 02.375	508,229	C
(RG) 912828TY6 USA TREASURY NOTES 01.625	110,369	C
(RH) 912828ZB9 USA TREASURY NOTES 01.125	177,060	C
(RI) 912828ZC7 USA TREASURY NOTES 01.125	295,263	C
(RJ) 912828ZH6 USA TREASURY NOTES 00.250	310,637	C
(RK) 913017BS7 UNITED TECHNOLOGIES CORP	34,263	C
(RL) 91324P102 UNITEDHEALTH GROUP INC	209,397	C
(RM) 91412GXY6 UNIV OF CALIFORNIA CA REV	53,520	C
(RN) 91734M103 US ECOLOGY INC	38,310	C
(RO) 91879Q109 VAIL RESORTS INC	173,556	C
(RP) 91913YBB5 VALERO ENERGY CORP CALL 0	15,004	C
(RQ) 91915WAB8 VALIDUS HOLDINGS LTD SR U	22,609	C
(RR) 92337F107 VERACYTE INC	38,889	C
(RS) 92343E102 VERISIGN INC	116,575	C
(RT) 92343VCV4 VERIZON COMMUNICATIONS UN	30,637	C
(RU) 92345Y106 VERISK ANALYTICS INC	288,831	C
(RV) 92345YAE6 VERISK ANALYTICS INC UNSC	34,046	C
(RW) 92345YAG1 VERISK ANALYTICS INC CALL	11,488	C
(RX) 92348XAA3 VERIZON OWNER TRUST SERIE	39,368	C
(RY) 92348XAD7 VERIZON OWNER TRUST SERIE	24,995	C
(RZ) 92532F100 VERTEX PHARMACEUTICALS IN	144,691	C
(SA) 92826C839 VISA INC CLASS A SHARES	442,976	C
(SB) 928563AE5 VMWARE INC CALL 03/15/202	35,018	C
(SC) 929160AV1 VULCAN MATERIALS CO CALL	24,089	C
(SD) 92938CAD9 WF-RBS COMMERCIAL MORTGAG	42,212	C
(SE) 94106LBB4 WASTE MANAGEMENT INC CALL	30,035	C
(SF) 94876Q205 WEIR GROUP PLC - SPONSORE	9,969	C
(SG) 94988QAG6 WELLS FARGO COMMERCIAL MO	42,970	C
(SH) 95000HBF8 WELLS FARGO COMMERCIAL MO	43,511	C
(SI) 96145DAD7 WRKCO INC CALL 06/15/2027	20,511	C
(SJ) 962166AS3 WEYERHAEUSER CO DEB	27,284	C
(SK) 970648AH4 WILLIS NORTH AMERICA INC	27,649	C
(SL) 98138H101 WORKDAY INC CL A	72,975	C
(SM) 98163CAG5 WORLD OMNI AUTO RECEIVABL	39,993	C
(SN) 98163DAE8 WORLD OMNI SELECT AUTO TR	34,994	C
(SO) 98212B103 WPX ENERGY INC	48,516	C
(SP) 98458PAA3 YALE UNIVERSITY SER MTN C	33,313	C
(SQ) 98980L101 ZOOM VIDEO COMMUNICATIONS	115,144	C
(SR) G0403H108 AON PLC/IRELAND-A SEDOL B	66,050	C
(SS) G0450A105 ARCH CAPITAL GROUP LTD SE	127,920	C
(ST) G06242104 ATLASSIAN CORP PLC-CLASS	177,901	C
(SU) G1151C101 ACCENTURE PLC CLASS A SED	96,816	C
(SV) G4388N106 HELEN OF TROY LIMITED SED	28,558	C
(SW) G47567105 IHS MARKIT LTD SEDOL BD0Q	102,675	C
(SX) G5876H105 MARVELL TECHNOLOGY GROUP	155,886	C
(SY) G96629103 WILLIS TOWERS WATSON PLC	16,061	C
(SZ) H42097107 UBS GROUP AG SEDOL BRJL17	32,179	C
(TA) L8681T102 SPOTIFY TECHNOLOGY SA SED	236,899	C
(TB) M22465104 CHECK POINT SOFTWARE TECH	36,265	C
(TC) M98068105 WIX.COM LTD SEDOL BFZCHN7	174,532	C
(TD) N00985106 AERCAP HOLDINGS NV ISIN N	11,736	C
(TE) N07059210 ASML HOLDING NV-NY SEDOL	8,924	C
(TF) N6596X109 NXP SEMICONDUCTORS ISIN N	18,933	C
(TG) N72482123 QIAGEN NV SEDOL BYXS688	15,649	C
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	40,327,407

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2020

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1..................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................		4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................		2e
3	Subtract line 2e from line 1...................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation

Schedule D (Form 990) 2020

Additional Data

Software ID:
Software Version:

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization
WALTERS ART GALLERY END

Employer identification number
52-6021290

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1) WALTERS ART MUSEUM FOUNDATION INC 600 NORTH CHARLES STREET BALTIMORE,MD21201	52-1194738	501(C)(3)	2,044,488		FMV		TO PROVIDE SUPPORT TO THE WALTERS ART GALLERY

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2020

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference	Explanation
EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2	THE HENRY WALTERS FOR WALTERS ART GALLERY ENDOWMENT FUND IS A TRUST FUND THAT DISBURSES FUNDS ONLY TO QUALIFYING CHARITABLE ORGANIZATIONS AS DIRECTED BY THE TRUST'S GOVERNING INSTRUMENT TO BE USED ONLY IN ACCORDANCE WITH THE GOVERNING INSTRUMENT

Schedule I (Form 990) 2020

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Open to Public
Inspection

Name of the organization

WALTERS ART GALLERY END

Employer identification number

52-6021290

Return Reference	Explanation
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a	THE HENRY WALTERS FOR WALTERS ART GALLERY ENDOWMENT FUND IS A TRUST FUND AND HAS NO WRITTEN POLICY REGARDING DOCUMENTATION OF MEETINGS AND WRITTEN ACTIONS OF ITS GOVERNING BODY AND COMMITTEES WITH AUTHORITY TO ACT ON ITS BEHALF
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b	THE HENRY WALTERS FOR WALTERS ART GALLERY ENDOWMENT FUND IS A TRUST FUND AND HAS NO WRITTEN POLICY REGARDING DOCUMENTATION OF MEETINGS AND WRITTEN ACTIONS OF ITS GOVERNING BODY AND COMMITTEES WITH AUTHORITY TO ACT ON ITS BEHALF
FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW	PNC BANK AS SOLE TRUSTEE OF THE TRUST PREPARES THE TAX RETURNS FOR THIS TRUST THUS FORM 990 IS PREPARED BY THE GOVERNING BODY
EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12c	THE CONFLICT OF INTEREST POLICY OF PNC CHARITABLE TRUST REQUIRES AN ANNUAL AFFIRMATION THAT IT HAS BEEN RECEIVED, READ, UNDERSTOOD AND AGREED TO BE COMPLIED WITH. IN ADDITION THE POLICY REQUIRES AN ANNUAL DISCLOSURE OF THE EXISTENCE AND NATURE OF ANY AFFILIATION IN WHICH A PARTY WOULD BE CONSIDERED AN "INTERESTED PERSON" UNDER THE POLICY.
FORM 990, PAGE 6, PART VI, LINE 19	FORM 990 AND RELATED FINANCIAL STATEMENTS ARE MADE AVAILABLE THROUGH REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
EXPLANATION FOR FORM 990, PART XI, LINE 9	COST BASIS ADJUSTMENT SALES ($1,282.73), 2019 SALES POSTED IN 2020, $10,222.70., 2020 TRANSACTIONS POSTED IN 2021, ($9,396.54), 2020 SALES POSTED IN 2021 ($207,978.26), WASH SALE ADJUSTMENT ($2,476.29), 2019 BOND AMORTIZATION IN 2020, $20,773.74., 2020 BOND AMORTIZATION IN 2021 ($3,948.43), ROUNDING ($52.00).

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2020

Open to Public Inspection

Name of the organization

WALTERS ART GALLERY END

Employer identification number

52-6021290

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)TRUSTEES OF THE WALTERS ART MUSEUM 600 N CHARLES ST BALTIMORE,MD21201 52-6002611	ART MUSEUM	MD	501(C)(3)	6	N/A		No
(2)WALTERS ART MUSEUM FOUNDATION INC 600 N CHARLES ST BALTIMORE,MD21201 52-1194738	SUPPORT OF MUSEUM	MD	501(C)(3)	12a	N/A		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2020

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No

Schedule R (Form 990) 2020

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

Yes

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

o Sharing of paid employees with related organization(s) ............................

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

s Other transfer of cash or property from related organization(s) ............................

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) THE WALTERS ART MUSEUM FOUNDATION	b	2,044,488	CASH

Schedule R (Form 990) 2020

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) 2020

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation

Schedule R (Form 990) 2020

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE SUPPORT FOR THE WALTERS ART GALLERY
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	1
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	0
5	Total number of individuals employed in calendar year 2020 (Part V, line 2a) ......	5	0
6	Total number of volunteers (estimate if necessary) .............	6
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........		0
9	Program service revenue (Part VIII, line 2g) .........		0
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,535,135	10,638,772
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)		855
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	2,535,135	10,639,627
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	1,878,096	2,044,488
14	Benefits paid to or for members (Part IX, column (A), line 4).....		0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	148,408	289,574
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....		0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	113,884	11,255
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	2,140,388	2,345,317
19	Revenue less expenses. Subtract line 18 from line 12.......	394,747	8,294,310
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	33,040,847	41,141,019
21	Total liabilities (Part X, line 26).............	0	0
22	Net assets or fund balances. Subtract line 21 from line 20.....	33,040,847	41,141,019

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 2,276,147 including grants of $ 2,044,488 ) (Revenue $ )
	PROVIDE FINANCIAL SUPPORT FOR THE WALTERS ART GALLERY MUSEUM

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses2,276,147

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)		(D) Reportable compensation from the organization (W-2/1099-MISC)	(E) Reportable compensation from related organizations (W-2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) PNC BANK NA TRUSTEE	................. 40.0	X	289,574	0	0

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	289,574	0	0

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a - 1f:$	1g

h Total. Add lines 1a-1f.......

		Business Code
2a
b
c
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....

3 Investment income (including dividends, interest, and othersimilar amounts) ......			576,863		576,863
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)			6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory		34,441,372	7a
b	Less: cost or other basis and sales expenses		24,379,463	7b
c	Gain or (loss)		10,061,909	7c
d	Net gain or (loss).........			10,061,909		10,061,909
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a
b
c
d	All other revenue ....			855		855
e	Total. Add lines 11a–11d ......			855
12	Total revenue. See instructions.....			10,639,627		10,639,627

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	2,044,488	2,044,488
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	289,574	231,659	57,915
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......
10	Payroll taxes ...........
11	Fees for services (non-employees):
a	Management ......	0		0
b	Legal .........
c	Accounting ...........
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)
12	Advertising and promotion ....
13	Office expenses .......
14	Information technology ......
15	Royalties ..
16	Occupancy ...........
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..
23	Insurance ...
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	FOREIGN TAXES WITHHELD	11,255		11,255
b
c
d
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	2,345,317	2,276,147	69,170	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			1
2	Savings and temporary cash investments .........		612,810	2	813,612
3	Pledges and grants receivable, net ......			3
4	Accounts receivable, net .............			4
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
				5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
				6
7	Notes and loans receivable, net ...........			7
8	Inventories for sale or use ............			8
9	Prepaid expenses and deferred charges ......			9
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation	10b		10c
11	Investments—publicly traded securities .		32,428,037	11
12	Investments—other securities. See Part IV, line 11 .....			12	40,327,407
13	Investments—program-related. See Part IV, line 11 ..			13
14	Intangible assets ...............			14
15	Other assets. See Part IV, line 11 ...........			15
16	Total assets. Add lines 1 through 15 (must equal line 33)...		33,040,847	16	41,141,019

17	Accounts payable and accrued expenses .....		17
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D		25
26	Total liabilities. Add lines 17 through 25..	0	26	0

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........		27
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....	33,004,761	29	41,141,019
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds	36,086	31
32	Total net assets or fund balances ...........	33,040,847	32	41,141,019
33	Total liabilities and net assets/fund balances ........	33,040,847	33	41,141,019