Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
ELAINE F STEPANEK FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

20-5632706
B Telephone number (see instructions)

(855) 452-4015
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$54,930,220J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 865,960 851,940  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,031,445
b Gross sales price for all assets on line 6a 13,414,021
7 Capital gain net income (from Part IV, line 2)... 4,031,445
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 4,897,405 4,883,385  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 30,000     30,000
14 Other employee salaries and wages...... 159,986 0 0 159,986
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule).... Click to see attachment 291,780 233,424   58,356
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 69,621 8,791   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 8,203     8,203
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 561,090 242,215 0 258,045
25 Contributions, gifts, grants paid....... 2,025,000 2,025,000
26 Total expenses and disbursements. Add lines 24 and 25 2,586,090 242,215 0 2,283,045
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,311,315
b Net investment income (if negative, enter -0-) 4,641,170
c Adjusted net income (if negative, enter -0-)... 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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............   9,717 9,717
2 Savings and temporary cash investments......... 1,188,897 2,063,681 2,063,681
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
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)....... 23,121,043 Click to see attachment23,895,847 38,216,666
c Investments—corporate bonds (attach schedule)....... 11,888,405 Click to see attachment9,088,405 9,482,170
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,554,468 Click to see attachment4,863,312 5,116,961
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment38,863 Click to see attachment41,025 Click to see attachment41,025
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 37,791,676 39,961,987 54,930,220
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 37,791,676 39,961,987
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 37,791,676 39,961,987
30 Total liabilities and net assets/fund balances (see instructions). 37,791,676 39,961,987
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
37,791,676
2
Enter amount from Part I, line 27a .....................
2
2,311,315
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
23,403
4
Add lines 1, 2, and 3 ..........................
4
40,126,394
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
164,407
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
39,961,987
Form 990-PF (2021)
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 124. ALPHABET INC CL A     2021-01-14
b 3125. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2021-01-25
c 60. ALPHABET INC CL A     2021-02-02
d 504. BANK OF AMERICA CORP   2016-11-14 2021-02-02
e 554. BANK OF AMERICA CORP   2021-01-14 2021-02-02
309.99982 CENTENE CORP COM     2021-02-02
175.00018 CENTENE CORP COM   2020-07-07 2021-02-02
158. J P MORGAN CHASE & CO   2021-01-14 2021-02-02
4. J P MORGAN CHASE & CO   2016-11-14 2021-02-02
711.99999 MARATHON PETROLEUM CORP   2018-10-23 2021-02-02
137.00001 MARATHON PETROLEUM CORP   2018-10-23 2021-02-02
341. RINGCENTRAL INC   2019-11-08 2021-02-02
571. SCHWAB CHARLES CORP NEW COM   2021-01-14 2021-02-02
135. SCHWAB CHARLES CORP NEW COM   2018-07-19 2021-02-02
114. TELADOC INC     2021-02-02
7. AMAZON COM INC COM   2020-09-10 2021-02-17
1139. BANK OF AMERICA CORP   2020-03-05 2021-02-17
3459. BANK OF AMERICA CORP   2016-11-14 2021-02-17
303. J P MORGAN CHASE & CO   2020-03-05 2021-02-17
839. J P MORGAN CHASE & CO     2021-02-17
1005. PAYPAL HOLDINGS INC     2021-02-17
142. ALBEMARLE CORP   2021-01-14 2021-02-26
135. MICROSOFT CORP   2018-07-19 2021-02-26
1. SCHWAB CHARLES CORP NEW COM   2020-02-26 2021-02-26
3168. SCHWAB CHARLES CORP NEW COM     2021-02-26
261. CHUBB LTD     2021-02-26
466. CHUBB LTD     2021-02-26
128. ELECTRONIC ARTS COM     2021-03-05
642. ELECTRONIC ARTS COM   2019-06-21 2021-03-05
141. MATCH GROUP INC NEW   2020-02-06 2021-03-05
1252. CHUBB LTD     2021-03-05
2683. MICRON TECHNOLOGY INC COM     2021-03-25
67. RINGCENTRAL INC   2021-03-05 2021-03-25
375. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2021-04-05
70. STANDARD & POORS DEPOSITARY RECEIPTS   2017-06-20 2021-05-03
2498. BANK OF AMERICA CORP     2021-05-11
526. ELECTRONIC ARTS COM     2021-05-11
136. MICRON TECHNOLOGY INC COM   2020-09-18 2021-05-11
2429. MICRON TECHNOLOGY INC COM     2021-05-11
23. ALBEMARLE CORP   2017-03-29 2021-06-09
35. ALBEMARLE CORP   2021-01-14 2021-06-09
16. ALPHABET INC CL A   2020-05-14 2021-06-09
17. AMAZON COM INC COM   2020-09-10 2021-06-09
41. AMERICAN TOWER CORP   2020-07-07 2021-06-09
127. AMERICAN TOWER CORP   2020-05-04 2021-06-09
3271. BANK OF AMERICA CORP   2020-05-27 2021-06-09
9218. CABOT OIL & GAS CORP CL A     2021-06-09
598. CABOT OIL & GAS CORP CL A     2021-06-09
470. CENTENE CORP COM   2020-05-04 2021-06-09
234. COPART INC COM   2020-05-21 2021-06-09
62. COSTCO WHSL CORP NEW COM   2020-05-04 2021-06-09
41. COUPA SOFTWARE INC   2021-02-26 2021-06-09
145. ECOLAB INC COM   2020-01-14 2021-06-09
37. EDWARDS LIFESCIENCES CORP COM   2020-05-14 2021-06-09
145. FACEBOOK INC A   2020-05-04 2021-06-09
121. GILEAD SCIENCES INC   2020-07-07 2021-06-09
189. GILEAD SCIENCES INC   2020-05-04 2021-06-09
12. HOME DEPOT INC COM   2021-02-17 2021-06-09
31. INTUIT INC COMMON STOCK   2020-05-14 2021-06-09
135. J P MORGAN CHASE & CO   2020-03-05 2021-06-09
676. MARATHON PETROLEUM CORP   2018-11-16 2021-06-09
4. MASTERCARD INC   2020-05-14 2021-06-09
197. MATCH GROUP INC NEW   2020-02-06 2021-06-09
248. MICROSOFT CORP   2020-05-04 2021-06-09
103. MICRON TECHNOLOGY INC COM   2020-05-14 2021-06-09
24. NVIDIA CORP   2021-02-26 2021-06-09
122. PAYPAL HOLDINGS INC   2020-05-14 2021-06-09
87. RINGCENTRAL INC     2021-06-09
57. ROPER INDS INC     2021-06-09
6. S P GLOBAL INC   2020-05-14 2021-06-09
109. SALESFORCE COM INC     2021-06-09
1698. SCHWAB CHARLES CORP NEW COM     2021-06-09
4. SERVICENOW INC   2020-05-14 2021-06-09
93. TARGET CORPORATION   2020-05-14 2021-06-09
154. TELADOC INC   2021-02-17 2021-06-09
19. TRADE DESK INC THE CLASS A   2020-05-04 2021-06-09
56. TRANSDIGM GROUP INC   2020-03-05 2021-06-09
206. TRANSUNION   2020-05-04 2021-06-09
16. TYLER TECHNOLOGIES INC   2020-05-14 2021-06-09
50. UNITEDHEALTH GROUP INC COM   2020-05-04 2021-06-09
1639. VIATRIS INC   2020-09-18 2021-06-09
206. WAL MART STORES INC COM   2020-09-10 2021-06-09
13. MEDTRONIC PLC   2020-03-05 2021-06-09
159. APTIV PLC   2018-11-05 2021-06-09
7. CHUBB LTD   2020-05-14 2021-06-09
1556. J P MORGAN CHASE & CO     2021-07-26
807. MICROSOFT CORP     2021-07-26
936. TARGET CORPORATION     2021-07-26
1. WELLS FARGO & CO   1911-11-11 2021-08-30
200000. BMO 24M VXF 2X LBR MTN 8/31/21   2019-08-27 2021-08-31
200000. BMO 24M MXEA 2X LBR MTN 8/31/21   2019-08-27 2021-08-31
500000. JPM 24M SPX 2X LBR MTN 8/31/21   2019-08-27 2021-08-31
100000. WFF 24M MXEF 2X LBR MTN 8/31/21   2019-08-27 2021-08-31
742. AMERICAN TOWER CORP     2021-09-09
516. COSTCO WHSL CORP NEW COM     2021-09-09
970. EDWARDS LIFESCIENCES CORP COM     2021-09-09
213. INTUIT INC COMMON STOCK     2021-09-09
544. NVIDIA CORP   2021-02-26 2021-09-09
338. SCHWAB CHARLES CORP NEW COM   2020-05-04 2021-09-09
1943. TRANSUNION     2021-09-09
500000. BMO 24M SPX 2X LBR MTN 9/30/21   2019-09-25 2021-09-30
200000. BMO 24M VXF 2X LBR MTN 9/30/21   2019-09-25 2021-09-30
100000. WFF 24M MXEF 1.5X LBR MTN 9/30/21   2019-09-25 2021-09-30
200000. WFF 24M MXEA 1.5X LBR MTN 9/30/21   2019-09-25 2021-09-30
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-01
185. AIRBNB INC CL A   2021-02-26 2021-10-04
1167. BANK OF AMERICA CORP     2021-10-04
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-04
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-04
268. J P MORGAN CHASE & CO     2021-10-04
1223. MARATHON PETROLEUM CORP     2021-10-04
164. SALESFORCE COM INC     2021-10-04
269. SCHWAB CHARLES CORP NEW COM   2020-09-18 2021-10-04
97. TRANSDIGM GROUP INC     2021-10-04
500000. JPM 24M SPX TW 202110 MTN 11/02/21   2019-10-28 2021-11-02
200000. JPM 24M MXEA TW 202110 MTN 11/02/21   2019-10-28 2021-11-02
100000. JPM 24M MXEF TW 202110 MTN 11/02/21   2019-10-28 2021-11-02
180. ALBEMARLE CORP     2021-11-08
16. AMAZON COM INC COM     2021-11-08
155. AMERICAN TOWER CORP     2021-11-08
666. APPLE COMPUTER INC COM   2020-09-10 2021-11-08
1405. BANK OF AMERICA CORP     2021-11-08
52. COSTCO WHSL CORP NEW COM   2021-01-14 2021-11-08
424. COSTCO WHSL CORP NEW COM     2021-11-08
127. ECOLAB INC COM     2021-11-08
136. FACEBOOK INC A   2020-09-10 2021-11-08
316. HOME DEPOT INC COM   2021-07-26 2021-11-08
197. INTUIT INC COMMON STOCK     2021-11-08
104. MICROSOFT CORP   2020-09-10 2021-11-08
200. PAYPAL HOLDINGS INC     2021-11-08
98. TARGET CORPORATION   2020-09-18 2021-11-08
311. TELADOC INC     2021-11-08
218. TYLER TECHNOLOGIES INC     2021-11-08
194. WAL MART STORES INC COM     2021-11-08
500000. JPM 24M SPX 2X LBR MTN 11/30/21   2019-11-22 2021-11-30
500000. WFF 24M SPX 2X LBR MTN 12/31/21   2019-12-26 2021-12-31
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 216,941   139,275 77,666
b 1,197,834   761,179 436,655
c 115,337   41,585 73,752
d 15,603   9,914 5,689
e 17,151   18,635 -1,484
18,869   20,616 -1,747
10,652   11,660 -1,008
20,968   22,280 -1,312
531   313 218
32,461   51,106 -18,645
6,246   9,834 -3,588
134,006   57,701 76,305
31,373   33,917 -2,544
7,417   7,163 254
31,122   22,082 9,040
23,129   23,191 -62
38,860   30,536 8,324
118,013   68,039 49,974
43,762   34,615 9,147
121,176   50,771 70,405
293,964   109,220 184,744
22,286   25,659 -3,373
31,441   14,135 17,306
62   42 20
197,682   128,234 69,448
42,799   36,826 5,973
76,414   31,496 44,918
16,744   16,950 -206
83,980   59,565 24,415
20,226   10,468 9,758
209,003   131,127 77,876
219,473   144,019 75,454
19,977   20,480 -503
152,234   91,341 60,893
29,287   17,050 12,237
103,909   63,538 40,371
74,286   60,976 13,310
10,811   6,832 3,979
193,092   106,812 86,280
4,025   2,300 1,725
6,125   6,324 -199
38,483   21,287 17,196
55,778   56,322 -544
10,945   10,974 -29
33,904   29,371 4,533
138,447   84,162 54,285
158,490   168,609 -10,119
10,282   11,095 -813
33,682   30,298 3,384
28,703   20,374 8,329
23,542   18,782 4,760
8,907   13,912 -5,005
30,942   27,769 3,173
3,589   2,592 997
47,956   29,586 18,370
8,301   9,261 -960
12,966   15,020 -2,054
3,692   3,347 345
14,536   8,494 6,042
22,008   15,423 6,585
43,004   54,347 -11,343
1,457   1,071 386
28,065   14,626 13,439
62,901   44,103 18,798
8,114   4,451 3,663
16,661   13,187 3,474
32,188   17,557 14,631
22,799   25,628 -2,829
25,740   19,719 6,021
2,313   1,760 553
25,767   27,189 -1,422
123,675   65,804 57,871
1,861   1,433 428
21,583   10,969 10,614
23,165   42,939 -19,774
11,129   5,452 5,677
37,194   30,102 7,092
21,715   15,904 5,811
6,673   5,276 1,397
20,043   14,231 5,812
25,281   25,822 -541
28,670   28,854 -184
1,599   1,300 299
25,168   12,113 13,055
1,172   656 516
235,736   155,008 80,728
233,322   150,887 82,435
243,984   111,142 132,842
32     32
236,000   200,000 36,000
240,000   200,000 40,000
587,500   500,000 87,500
120,000   100,000 20,000
221,270   169,862 51,408
240,733   158,430 82,303
118,723   67,522 51,201
120,918   57,902 63,016
120,994   74,725 46,269
24,504   12,026 12,478
241,880   144,938 96,942
585,000   500,000 85,000
232,800   200,000 32,800
120,000   100,000 20,000
240,000   200,000 40,000
3     3
31,710   37,891 -6,181
50,467   30,026 20,441
2     2
2     2
44,942   27,022 17,920
78,094   83,194 -5,100
44,848   32,511 12,337
19,966   9,669 10,297
63,256   51,400 11,856
756,134   500,000 256,134
241,924   200,000 41,924
122,350   100,000 22,350
49,585   11,332 38,253
56,685   50,352 6,333
42,951   38,561 4,390
100,745   79,560 21,185
66,408   35,510 30,898
26,636   18,993 7,643
217,185   82,493 134,692
29,172   26,007 3,165
46,523   37,180 9,343
116,777   104,469 12,308
121,361   54,885 66,476
35,046   22,268 12,778
45,379   52,052 -6,673
24,887   14,480 10,407
45,401   76,637 -31,236
116,142   72,764 43,378
29,134   26,425 2,709
600,750   500,000 100,750
580,000   500,000 80,000
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
      246,005
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       77,666
b       436,655
c       73,752
d       5,689
e       -1,484
      -1,747
      -1,008
      -1,312
      218
      -18,645
      -3,588
      76,305
      -2,544
      254
      9,040
      -62
      8,324
      49,974
      9,147
      70,405
      184,744
      -3,373
      17,306
      20
      69,448
      5,973
      44,918
      -206
      24,415
      9,758
      77,876
      75,454
      -503
      60,893
      12,237
      40,371
      13,310
      3,979
      86,280
      1,725
      -199
      17,196
      -544
      -29
      4,533
      54,285
      -10,119
      -813
      3,384
      8,329
      4,760
      -5,005
      3,173
      997
      18,370
      -960
      -2,054
      345
      6,042
      6,585
      -11,343
      386
      13,439
      18,798
      3,663
      3,474
      14,631
      -2,829
      6,021
      553
      -1,422
      57,871
      428
      10,614
      -19,774
      5,677
      7,092
      5,811
      1,397
      5,812
      -541
      -184
      299
      13,055
      516
      80,728
      82,435
      132,842
      32
      36,000
      40,000
      87,500
      20,000
      51,408
      82,303
      51,201
      63,016
      46,269
      12,478
      96,942
      85,000
      32,800
      20,000
      40,000
      3
      -6,181
      20,441
      2
      2
      17,920
      -5,100
      12,337
      10,297
      11,856
      256,134
      41,924
      22,350
      38,253
      6,333
      4,390
      21,185
      30,898
      7,643
      134,692
      3,165
      9,343
      12,308
      66,476
      12,778
      -6,673
      10,407
      -31,236
      43,378
      2,709
      100,750
      80,000
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 4,031,445
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 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 64,512
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 64,512
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 57,988
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 57,988
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 6,524
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet0 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK NATIONAL ASSOCIATION Telephone no.bullet (503) 464-4908

    Located atbullet101 EAST FIFTH STREETSAINT PAULMN ZIP+4bullet55101
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 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
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)
     
    No
    (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)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    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? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    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.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (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)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
    Yes
     
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (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)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    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? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    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
    DANIEL H GAINEY PRESIDENT & TRESURER
    2     		10,000    
    817 ARBOLADO ROAD
    SANTA BARBARA,CA93103
    DIANE P GAINEY VP & SECRETARY
    2     		10,000    
    817 ARBOLADO ROAD
    SANTA BARBARA,CA93103
    WILIAM K RODGERS BOARD MEMBER
    2     		10,000    
    25 WEST PADRE ST
    SANTA BARBARA,CA93105
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    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
    US BANK N A CUSTODIAL SVCS/TAX P 0
    P O BOX 64713 TRUST TAX SERVICES
    MINNEAPOLIS,MN55164
    Total number of others receiving over $50,000 for professional services.............bullet0
    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)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    52,679,092
    b
    Average of monthly cash balances.......................
    1b
    781,627
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    53,460,719
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    53,460,719
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    801,911
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    52,658,808
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    2,632,940
    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.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    2,632,940
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    64,512
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    64,512
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,568,428
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,568,428
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    2,568,428
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    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 2,568,428
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 1,956,348
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 0
    b From 2017...... 0
    c From 2018...... 0
    d From 2019...... 0
    e From 2020...... 0
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 2,283,045
    a Applied to 2020, but not more than line 2a 1,956,348
    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..... 326,697
    e Remaining amount distributed out of corpus 0
    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 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		2,241,731
    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) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017.... 0
    b Excess from 2018.... 0
    c Excess from 2019.... 0
    d Excess from 2020.... 0
    e Excess from 2021.... 0
    Form 990-PF (2021)
    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 or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ELAINE F STEPANEK FOUNDATION
    C/O US BANK NA 101 E 5TH ST 14TH
    ST PAUL,MN551011860
    (855) 452-4015
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORMAT
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SUPPORTS PUBLICLY SUPPORTED CHARITABLE ORGANIZATIONS AND 501(C)(3) ORGANIZATIONS. THE FOUNDATION MAY ALSO PROVIDE SCHOLARSHIPS WITH THE SCHOOL AND GEOGRAPHICAL AREA TO BE DETERMINED.
    Form 990-PF (2021)
    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)
    aPaid during the year
    ISD 761 FOUNDATION
    515 WEST BRIDGE ST
    OWATONNA,MN55060     		NONE PC GENERAL OPERATING 80,000
    LAGUNA BLANCA SCHOOL
    4125 PALOMA DRIVE
    SANTA BARBARA,CA93110     		NONE PC GENERAL OPERATING 250,000
    SCHOLARSHIP FOUNDATION OF SANTA BARBARA
    PO BOX 3620
    SANTA BARBARA,CA93130     		NONE PC GENERAL OPERATING 70,000
    SANTA BARBARA SYMPHONY ORCHESTRA
    1330 STATE STREET SUITE 102
    SANTA BARBARA,CA93101     		NONE PC GENERAL OPERATING 30,000
    UNIVERSITY OF CALIFORNIA
    GEVIRTZ GRADUATE SCHOOL OF EDUCATION
    3201 SAASB BUILDING PAYROLL OFFICE
    SANTA BARBARA,CA931060001     		NONE PC GENERAL OPERATING 100,000
    HEARTS THERAPEUTIC EQUESTRIAN CENTER
    PO BOX 30662
    SANTA BARBARA,CA93130     		NONE PC GENERAL OPERATING 25,000
    NOTES FOR NOTES
    PO BOX 90632
    SANTA BARBARA,CA93190     		NONE PC GENERAL SUPPORT 10,000
    SANTA BARBARA COTTAGE
    HOSPITAL FOUNDATION
    P O BOX 689
    SANTA BARBARA,CA93102     		NONE PC GENERAL SUPPORT 50,000
    SANTA YNEZ VALLEY - COTTAGE HOSPITAL FDN
    2050 VIBORG ROAD
    SOLVANG,CA93463     		NONE PC PROGRAM SUPPORT 50,000
    OPERA SANTA BARBARA
    1330 STATE ST STE 209
    SANTA BARBARA,CA93101     		NONE PC PROGRAM SUPPORT 50,000
    MUSIC ACADEMY OF THE WEST
    1070 FAIRWAY ROAD
    SANTA BARBARA,CA931082899     		NONE PC PROGRAM SUPPORT 50,000
    BRAILLE INSTITUTE OF AMERICA INC
    2031 DE LA VINA STREET
    SANTA BARBARA,CA93105     		NONE PUBLCI PROGRAM SUPPORT 100,000
    SANTA BARBARA MUSEUM OF ART
    1130 STATE STREET
    SANTA BARBARA,CA93101     		NONE NONE PROGRAM SUPPORT 75,000
    COMMUNITY ARTS MUSIC ASSOCIATION
    2060 ALAMEDA PADRE SERRA ST 201
    SANTA BARBARA,CA93103     		NONE PC PROGRAM SUPPORT 20,000
    LOBERO THEATRE FOUNDATION
    33 EAST CANON PERIDO ST
    SANTA BARBARA,CA93101     		NONE PC PROGRAM SUPPORT 50,000
    Santa Barbara Foundation
    1111 CHAPALA STREET SUITE 200
    Santa Barbara,CA93101     		NONE PC GENERAL OPERATING 515,000
    CANCER FOUNDATION OF
    SANTA BARBARA
    601 WEST PUEBLO STREET
    SANTA BARBARA,CA93105     		NONE PUBLIC PROGRAM SUPPORT 150,000
    SANTA BARBARA EDUCATION FOUNDATION
    720 SANTA BARBARA STREET
    SANTA BARBARA,CA93101     		NONE PC GENERAL SUPPORT 100,000
    SANTA BARBARA BOWL FOUNDATION
    1122 NORTH MILPAS STREET
    SANTA BARBARA,CA93103     		NONE PC GENERAL SUPPORT 150,000
    SANTA BARBARA NEIGHBORHOOD CLINIC
    915 NORTH MILPAS STREET
    SANTA BARBARA,CA93103     		NONE PC GENERAL OPERATING 100,000
    Total .................................bullet 3a 2,025,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    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
    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 4,031,445  
    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) ..   4,897,405  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,897,405
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part 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)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Name of Bond End of Year Book Value End of Year Fair Market Value
    31420B300 FEDERATED HERMES INS 1,164,974 1,254,684
    057071854 BAIRD AGGREGATE BOND 3,631,375 3,853,728
    258620103 DOUBLELINE TOTAL RET 3,562,166 3,538,579
    808524870 SCHWAB U S TIPS ETF 729,890 835,179
    95001HDF5 WFF 24M SPX 2X LBR M    
    06367WPJ6 BMO 24M MXEA 2X LBR    
    06367WQK2 BMO 24M SPX 2X LBR M    
    06367WQL0 BMO 24M VXF 2X LBR M    
    48132FS56 JPM 24M SPX 2X LBR M    
    95001HA68 WFF 24M MXEF 2X LBR    
    95001HAT8 WFF 24M MXEA 1.5X LB    
    95001HAS0 WFF 24M MXEF 1.5X LB    
    06367WPH0 BMO 24M VXF 2X LBR M    
    48132FZH2 JPM 24M MXEA TW 2021    
    48132FZJ8 JPM 24M MXEF TW 2021    
    48132FCR5 JPM 24M SPX 2X LBR M    
    48132FZG4 JPM 24M SPX TW 20211    

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Name of Stock End of Year Book Value End of Year Fair Market Value
    893641100 TRANSDIGM GROUP INC 310,598 462,576
    464287465 ISHARES MSCI EAFE ET 3,283,456 4,305,684
    78462F103 SPDR S P 500 ETF 717,471 1,757,352
    902252105 TYLER TECHNOLOGIES I 69,326 138,253
    30303M102 FACEBOOK INC A 414,003 664,964
    91324P102 UNITED HEALTH GROUP 139,463 315,344
    060505104 BANK OF AMERICA CORP 283,124 552,566
    81762P102 SERVICENOW INC 80,991 146,050
    023135106 AMAZON.COM INC 944,925 1,463,775
    931142103 WAL MART STORES INC 373,144 511,479
    127097103 CABOT OIL GAS CORP C    
    03027X100 AMERICAN TOWER CORP 261,880 426,465
    46625H100 J P MORGAN CHASE CO 354,465 584,153
    02079K305 ALPHABET INC CL A 376,195 787,995
    H1467J104 CHUBB LTD 52,747 108,834
    808513105 SCHWAB CHARLES CORP 273,456 621,331
    57636Q104 MASTERCARD INC 144,778 220,982
    149498107 CAUSEWAY EMERGING MA 926,763 1,119,022
    037833100 APPLE INC 823,947 1,786,354
    012653101 ALBEMARLE CORP 164,515 556,606
    22160K105 COSTCO WHSL CORP 198,693 344,026
    78467Y107 SPDR S P MIDCAP 400 1,596,844 4,791,128
    78409V104 S P GLOBAL INC 85,942 193,019
    594918104 MICROSOFT CORP 704,837 1,748,528
    28176E108 EDWARDS LIFESCIENCES 56,316 127,348
    464287804 ISHARES CORE S P SMA 393,434 1,273,351
    56585A102 MARATHON PETROLEUM C 457,543 717,136
    G6095L109 APTIV PLC 111,929 245,940
    15135B101 CENTENE CORP COM 540,344 733,442
    595112103 MICRON TECHNOLOGY IN 351,658 527,508
    76680R206 RINGCENTRAL INC 644,251 482,239
    70450Y103 PAYPAL HOLDINGS INC 450,607 605,153
    89400J107 TRANSUNION 259,917 382,065
    88339J105 TRADE DESK INC THE C 171,789 409,631
    285512109 ELECTRONIC ARTS INC    
    278865100 ECOLAB INC 385,497 474,341
    922908553 VANGUARD REAL ESTATE 1,076,449 1,612,539
    375558103 GILEAD SCIENCES INC 420,741 449,238
    461202103 INTUIT INC 128,769 243,780
    217204106 COPART INC COM 269,853 478,209
    776696106 ROPER INDS INC 394,689 508,091
    57667L107 MATCH GROUP INC NEW 421,481 687,039
    79466L302 SALESFORCE COM INC 457,582 570,268
    92556V106 VIATRIS INC 449,632 386,133
    87612E106 TARGET CORP 230,719 430,016
    G5960L103 MEDTRONIC PLC 252,558 271,763
    87918A105 TELADOC INC 705,247 385,369
    437076102 HOME DEPOT INC 228,035 336,988
    22266L106 COUPA SOFTWARE INC 647,883 409,033
    98954M101 ZILLOW GROUP INC 233,151 216,526
    67066G104 NVIDIA CORP 242,863 560,280
    009066101 AIRBNB INC CL A 484,157 478,159
    852234103 SQUARE INC A 246,809 168,778
    30063P105 EXACT SCIENCES CORPO 600,381 439,817

    TY 2021 InvestmentsOtherSchedule2
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    46429B267 ISHARES US TREASURY AT COST 924,660 880,440
    524686524 CLEARBRIDGE INTERNAT AT COST 629,808 916,893
    46432F842 ISHARES CORE MSCI EA AT COST 3,308,830 3,319,614
    99MINBEL9 VARIOUS MINERAL INTE AT COST 14 14

    TY 2021 OtherAssetsSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME   0 0
    000000000 MISCELLANEOUS ENTRY 38,863 41,025 41,025


    TY 2021 OtherDecreasesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Amount
    VIATRIS/MYLAN ADJUSTMENT 122,089
    WASH SALE ADJUSTMENT 42,318


    TY 2021 OtherExpensesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE EXPENSE 8,043 0   8,043
    MISC CHARITABLE EXPENSE 160 0   160


    TY 2021 OtherIncreasesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Description Amount
    PY ROC ADJUSTMENT 20,064
    VARIOUS COST BASIS ADJUSTMENTS 3,339


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 291,780 233,424   58,356


    TY 2021 TaxesSchedule
    Name:
    ELAINE F STEPANEK FOUNDATION
    EIN:
    20-5632706
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 7,690 7,690   0
    FEDERAL TAX PAYMENT - PRIOR YE 2,842 0   0
    FEDERAL ESTIMATES - PRINCIPAL 57,988 0   0
    FOREIGN TAXES ON NONQUALIFIED 1,101 1,101   0