TY 2021 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. 1545-0047

2021

Open to Public Inspection

For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021

Name of foundation
NIEL C AND KAREN M ELLERBROOK FAMILY
FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)ONE N ILLINOIS ST UNIT 2001
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
INDIANAPOLIS, IN46204

A Employer identification number

26-0431032

B Telephone number (see instructions)

(812) 424-7575

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

$2,868,049J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	33,980		33,980
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		980,908
b	Gross sales price for all assets on line 6a 3,038,437
7	Capital gain net income (from Part IV, line 2)...			980,908
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	1,014,888		1,014,888
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		1,660	830	830
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,479	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		10,162	10,162	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	13,301		10,992	830
25	Contributions, gifts, grants paid.......	176,250			176,250
26	Total expenses and disbursements. Add lines 24 and 25	189,551		10,992	177,080
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	825,337
b	Net investment income (if negative, enter -0-)			1,003,896
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2021)

Form 990-PF (2021)

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.............
	2	Savings and temporary cash investments.........	13,686	313,338	313,338
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	2,056,743	2,582,428	2,554,711
	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)	2,070,429	2,895,766	2,868,049
	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	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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	2,070,429	2,895,766
	29	Total net assets or fund balances (see instructions).....	2,070,429	2,895,766
	30	Total liabilities and net assets/fund balances (see instructions).	2,070,429	2,895,766

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

2,070,429

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

825,337

Other increases not included in line 2 (itemize) bullet

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

2,895,766

Decreases not included in line 2 (itemize) bullet

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

2,895,766

Form 990-PF (2021)

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	VANGUARD SMALL CAP GROWTH	P
b	SCHWAB US LARGE CAP GROWTH	P
c	SCHWAB US LARGE CAP VALUE	P
d	XTRACKERS HEDGED EQUITY	P
e	ISHARES CORE	P
	SPDR S&P 600 SMALL CAP	P
	SPDR S&P 600 SMALL CAP	P
	SCHWAB US MID CAP ETF	P
	SCHWAB EMERGING MARKETS	P
	SCHWAB INTL EQUITY ETF	P
	SCHWAB US AGGREGATE BOND	P
	VANGUARD SMALL CAP GROWTH	D
	VANGUARD SMALL CAP VALUE ETF	P
	VANGUARD MID-CAP ATF	P
	VANGUARD GROWTH ETD	P
	VANGUARD VALUE ETF	P
	WISDOMTREE INTL HEDGED	P
	ISHARES IBOXX CORP BOND	P
	ISHARES JPMORGAN EMERGING MKTS BOND ETF	P
	VANGUARD TOTAL INTL BOND ETF	P
	VANGUARD SHORT TERM CORP ADM	P
	VANGUARD EMERGING MKTS GOVT ETF	P
	BOSTON PARTNERS - ALL CAP VALUE	P
	BOSTON PARTNERS - ALL CAP VALUE	P
	BOSTON PARTNERS SMALL CAP	P
	BOSTON PARTNERS SMALL CAP	P
	JPMORGAN US SMALL COMPANY	P
	JPMORGAN US SMALL COMPANY	P
	INVESCO INTL GROWTH	P
	INVESCO INTL GROWTH	P
	DRIEHAUS EMERGING MKTS	P
	DRIEHAUS EMERGING MKTS	P
	VICTORY SYCAMORE EST VALUE	P
	VICTORY SYCAMORE EST VALUE	P
	CARILLON EAGLE SMALL CAP GROWTH	P
	JANUS HENDERSON ENTERPRISE	P
	VANGUARD SHORT TERM BOND INDEX	P
	VANGUARD SHORT TERM BOND INDEX	P
	VANGUARD INTERMEDIATE TERM BOND	P
	SCHWAB US LARGE CAP	P	2020-09-03	2021-01-12
	ISHARES IBOXX INVT GRADEBOND	P	2018-05-10	2021-09-07
	ISHARES JPMORGAN	P	2015-08-20	2021-09-07
	SCHWAB EMERGING MARKETS	P	2015-11-18	2021-09-07
	SCHWAB INTERNATIONAL	P	2017-11-08	2021-01-12
	SCHWAB US LARGE CAP	P	2017-11-08	2021-04-13
	SCHWAB US LARGE CAP	P	2017-11-08	2021-01-12
	VANGUARD SMALL CAP GROWTH IND	P	2013-08-12	2021-01-12
	VANGUARD TOTAL	P	2015-08-20	2021-09-07
	XTRACKERS MSCI EAFE	P	2015-08-20	2021-09-07

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	21,383	8,189	13,194
b	479,629	211,323	268,306
c	441,041	286,713	154,328
d	165,030	118,676	46,354
e	74,849	72,908	1,941
	15,971	10,066	5,905
	15,706	10,136	5,570
	87,236	55,529	31,707
	72,097	48,810	23,287
	308,066	226,173	81,893
	152,946	147,461	5,485
	25,622	14,009	11,613
	67,695	46,883	20,812
	20,892	12,619	8,273
	128,540	65,935	62,605
	123,174	87,540	35,634
	177,809	119,666	58,143
	111,039	94,536	16,503
	9,927	9,670	257
	21,900	20,937	963
	278,089	271,294	6,795
	9,766	9,825	-59
	2,893		2,893
	1,127		1,127
	2,035		2,035
	668		668
	5,618		5,618
	3,829		3,829
	10,632		10,632
	571		571
	8,601		8,601
	4,508		4,508
	5,559		5,559
	1,302		1,302
	10,319		10,319
	13,648		13,648
	30		30
	543		543
	1,015		1,015
	11,586	10,167	1,419
	108	92	16
	21	20	1
	21	13	8
	35,049	30,566	4,483
	37,601	18,573	19,028
	49,591	40,041	9,550
	23,085	9,100	13,985
	40	37	3
	30	22	8

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			13,194
b			268,306
c			154,328
d			46,354
e			1,941
			5,905
			5,570
			31,707
			23,287
			81,893
			5,485
			11,613
			20,812
			8,273
			62,605
			35,634
			58,143
			16,503
			257
			963
			6,795
			-59
			2,893
			1,127
			2,035
			668
			5,618
			3,829
			10,632
			571
			8,601
			4,508
			5,559
			1,302
			10,319
			13,648
			30
			543
			1,015
			1,419
			16
			1
			8
			4,483
			19,028
			9,550
			13,985
			3
			8

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	980,908
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

Form 990-PF (2021)

Page 4

Part V

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	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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	13,954
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	13,954
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	1,352
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	14,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	15,352
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	1
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	1,397
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax1,397	Refunded	11	0

Part VI-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

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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 XIV..................................

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 .

Yes

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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

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

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

Form 990-PF (2021)

Page 5

Part VI-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

THE FOUNDATION Telephone no. bullet

(812) 424-7575

Located at bullet

ONE N ILLINOIS ST UNIT 2001INDIANAPOLISIN ZIP+4 bullet

46204

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 2021, 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 VI-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? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

1a(5)

(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.) ...............

1a(6)

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 2021? .............

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 2021, did the foundation have any undistributed income (lines 6d

and 6e, Part XII) for tax year(s) beginning before 2021?....................

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

If "Yes," did it have excess business holdings in 2021 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 2021.) .....................

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 2021? ..

Form 990-PF (2021)

Page 6

Part VI-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))? ..........

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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?

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

Part VII

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
NIEL C ELLERBROOK	PRESIDENT/TREASURER 2.00	0	0	0
ONE N ILLINOIS ST UNIT 2001 INDIANAPOLIS,IN46204	PRESIDENT/TREASURER 2.00	0	0	0
KAREN M ELLERBROOK	VICE PRES/SECRETARY 2.00	0	0	0
ONE N ILLINOIS ST UNIT 2001 INDIANAPOLIS,IN46204	VICE PRES/SECRETARY 2.00	0	0	0
JENNIFER A WRIGHT	DIRECTOR 1.00	0	0	0
6758 TRAILSIDE DR AVON,IN46123	DIRECTOR 1.00	0	0	0

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 (2021)

Page 7

Part VII

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 VIII-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 VIII-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 (2021)

Page 8

Part IX

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

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

237,742

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

2,667,914

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

2,905,656

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

2,905,656

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

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

43,585

Net value of noncharitable-use assets. Subtract line 4 from line 3. .......

2,862,071

Minimum investment return. Enter 5% (0.05) of line 5................

143,104

Part X

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 IX, line 6..................

143,104

Tax on investment income for 2021 from Part V, line 5.......

13,954

Income tax for 2021. (This does not include the tax from Part V.) ...

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

13,954

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

129,150

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

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

129,150

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

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

129,150

Part XI

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 ..........

Program-related investments—total from Part VIII-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 XII, line 4.

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7					129,150
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2021:
a From 2016......	14,995
b From 2017......
c From 2018......	80,210
d From 2019......
e From 2020......	67,127
f Total of lines 3a through e ........		162,332
4Qualifying distributions for 2021 from Part
XI, line 4: $ 177,080
a Applied to 2020, 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 2021 distributable amount.....					129,150
e Remaining amount distributed out of corpus		47,930
5 Excess distributions carryover applied to 2021.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		210,262
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 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........					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 2016 not applied on line 5 or line 7 (see instructions) ...		14,995
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		195,267
10 Analysis of line 9:
a Excess from 2017....
b Excess from 2018....	80,210
c Excess from 2019....
d Excess from 2020....	67,127
e Excess from 2021....	47,930

Form 990-PF (2021)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-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 2021, enter the date of the ruling ....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section 4942(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) 2021	(b) 2020	(c) 2019	(d) 2018	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, 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 IX, 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 XIV

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).)

NIEL C ELLERBROOK

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 (2021)

Page 11

Part XIV

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
BALL STATE UNIVERSITY FOUNDATION 2000 W UIVERSITY AVE MUNCIE,IN47306	NONE	501(C)(3)	UNRESTRICTED	70,000
CHRISTIAN THEOLOGICAL SEMINARY 1000 W 42ND STREET INDIANAPOLIS,IN46208	NONE	501(C)(3)	UNRESTRICTED	10,000
INDIANA CITIZEN EDUCATION FOUNDATION 3544 CLEARWATER CIRCLE INDIANAPOLIS,IN46240	NONE	501(C)(3)	UNRESTRICTED	5,000
INDIANAPOLIS OPERA 4011 N PENNSYLVANIA ST INDIANAPOLIS,IN46205	NONE	501(C)(3)	UNRESTRICTED	2,500
INDIANAPOLIS SYMPHONIC ORCHESTRA 32 EAST WASHINGTON STREET NO 600 INDIANAPOLIS,IN462042919	NONE	501(C)(3)	UNRESTRICTED	2,500
IVY TECH OF SW INDIANA 50 W FALL CREEK PKWY NORTH DRIVE INDIANAPOLIS,IN462085752	NONE	501(C)(3)	UNRESTRICTED	10,000
THE GREAT AMERICAN SONGBOOK FOUNDATION ONE CENTER GREEN CARMEL,IN46032	NONE	501(C)(3)	UNRESTRICTED	7,500
UNIVERSITY OF EVANSVILLE 1800 LINCOLN AVENUE EVANSVILLE,IN47722	NONE	501(C)(3)	UNRESTRICTED	25,000
EASTER SEALS REHABILITATION CENTER 3701 BELLEMEADE AVE EVANSVILLE,IN47714	NONE	501(C)(3)	UNRESTRICTED	15,000
GREGORY HANCOCK THEATRE 329 GRADLE DR CARMEL,IN46032	NONE	501(C)(3)	UNRESTRICTED	1,000
EVANSVILLE JUNIOR GOLF ASSOCIATION 7800 E MORGAN AVE EVANSVILLE,IN47715	NONE	501(C)(3)	UNRESTRICTED	750
EIU FOUNDATION 860 WEST LINCOLN AVENUE CHARLESTON,IL61920	NONE	501(C)(3)	UNRESTRICTED	15,000
YMCA OF SOUTHWESTERN INDIANA 516 COURT ST EVANSVILLE,IN47708	NONE	501(C)(3)	UNRESTRICTED	1,000
EVANSVILLE ZOOLOGICAL SOCIETY 1545 MESKER PARK DR EVANSVILLE,IN47720	NONE	501(C)(3)	UNRESTRICTED	1,000
TRI KAPPA 941 E 86TH ST INDIANAPOLIS,IN46240	NONE	501(C)(3)	UNRESTRICTED	1,000
RED CROSS OF SOUTHWEST INDIANA 29 S STOCKWELL RD EVANSVILLE,IN47714	NONE	501(C)(3)	UNRESTRICTED	3,500
INDIANA STATE UNIVERSITY FOUNDATION 30 N 5TH ST TERRE HAUTE,IN47807	NONE	501(C)(3)	UNRESTRICTED	2,500
LAMPION CENTER 655 S HEBRON AVE EVANSVILLE,IN47714	NONE	501(C)(3)	UNRESTRICTED	3,000
Total ................................. 3a				176,250

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2021)

Page 12

Part XV-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 ....
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	980,908
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		1,014,888	0

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

1,014,888

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

Part XV-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 XV-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 (2021)

Page 13

Part XVI

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 (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2021 AccountingFeesSchedule

Name:

NIEL C AND KAREN M ELLERBROOK FAMILY

FOUNDATION INC

EIN:

26-0431032

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	1,660	830		830

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

NIEL C AND KAREN M ELLERBROOK FAMILY

FOUNDATION INC

EIN:

26-0431032

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
EQUITY FUNDS	AT COST	2,109,643	2,090,409
OTHER INVESTMENTS	AT COST	472,785	464,302

- TIN:

TY 2021 OtherExpensesSchedule

Name:

NIEL C AND KAREN M ELLERBROOK FAMILY

FOUNDATION INC

EIN:

26-0431032

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADVISOR FEES	10,162	10,162		0

- TIN:

TY 2021 TaxesSchedule

Name:

NIEL C AND KAREN M ELLERBROOK FAMILY

FOUNDATION INC

EIN:

26-0431032

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX	308	0		0
TAXES	1,171	0		0