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
SUSAN & BRUCE WORSTER FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)456 CROCKER SPERRY DRIVE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MONTECITO, CA93108

A Employer identification number

77-0549392

B Telephone number (see instructions)

(650) 815-6354

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

$5,905,121J 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)	119,361
2	Check .............
3	Interest on savings and temporary cash investments	11,927		11,927
4	Dividends and interest from securities...	58,422		53,896
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		300,238
b	Gross sales price for all assets on line 6a 12,915,473
7	Capital gain net income (from Part IV, line 2)...			300,238
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).......		10,402	10,402
12	Total. Add lines 1 through 11........	500,350		376,463
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).......		18,500	9,250	9,250
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		2,034	2,034	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		44,215	44,044	50
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	64,749		55,328	9,300
25	Contributions, gifts, grants paid.......	335,511			335,511
26	Total expenses and disbursements. Add lines 24 and 25	400,260		55,328	344,811
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	100,090
b	Net investment income (if negative, enter -0-)			321,135
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.............	0
	2	Savings and temporary cash investments.........	1,891,612	389,676	389,676
	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)	50,440	50,500	51,234
	b	Investments—corporate stock (attach schedule).......	1,600,569	3,145,754	4,326,063
	c	Investments—corporate bonds (attach schedule).......	664,216	984,718	970,927
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	473,272	175,623	165,779
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	4,438	1,442	1,442
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,684,547	4,747,713	5,905,121
	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...........	4,684,547	4,747,713
	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........
	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).....	4,684,547	4,747,713
	30	Total liabilities and net assets/fund balances (see instructions).	4,684,547	4,747,713

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

4,684,547

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

100,090

Other increases not included in line 2 (itemize) bullet

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

4,784,637

Decreases not included in line 2 (itemize) bullet

36,924

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

4,747,713

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	PUBLICLY TRADED SECURITIES		2021-01-01	2021-12-31
b	CHARLES SCHWAB CAPITAL GAIN DISTRIBUTIONS	P	2021-01-01	2021-12-31
c	FIRST REPUBLIC CAPITAL GAIN DISTRIBUTIONS		2021-01-01	2021-12-31
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	12,913,332	12,615,235	298,097
b	2,137		2,137
c	4		4
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			298,097
b			2,137
c			4
d
e

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	300,238
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	4,464
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	4,464
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	3,739
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	4,400
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	8,139
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	3,675
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax3,675	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

BRUCE AND SUSAN WORSTER Telephone no. bullet

(650) 815-6354

Located at bullet

456 CROCKER SPERRY DRIVEMONTECITOCA ZIP+4 bullet

93108

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
BRUCE WORSTER	PRESIDENT 1.00	0	0	0
1159 PALOMINO RD SANTA BARBARA,CA931052146	PRESIDENT 1.00	0	0	0
SUSAN WORSTER	SECRETARY 1.00	0	0	0
1159 PALOMINO RD SANTA BARBARA,CA931052146	SECRETARY 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...................

4,294,342

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

1,600,617

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

1,442

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

5,896,401

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

5,896,401

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

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

88,446

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

5,807,955

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

290,398

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

290,398

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

4,464

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

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

4,464

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

285,934

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

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

285,934

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

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

285,934

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					285,934
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......	61,443
b From 2017......	85,996
c From 2018......
d From 2019......
e From 2020......	56,383
f Total of lines 3a through e ........		203,822
4Qualifying distributions for 2021 from Part
XI, line 4: $ 344,811
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.....					285,934
e Remaining amount distributed out of corpus		58,877
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		262,699
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) ...		61,443
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		201,256
10 Analysis of line 9:
a Excess from 2017....	85,996
b Excess from 2018....
c Excess from 2019....
d Excess from 2020....	56,383
e Excess from 2021....	58,877

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).)

BRUCE WORSTER

SUSAN WORSTER

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
HARVEY MUDD COLLEGE 301 E 12TH ST CLAREMONT,CA91711	NONE	PC	GENERAL USE	126,511
SANTA BARBARA MUSEUM OF ART 1130 STATE ST SANTA BARBARA,CA93101	NONE	PC	GENERAL USE	69,000
SANTA BARBARA MUSEUM OF NATURAL HISTORY 2559 PUESTA DEL SOL SANTA BARBARA,CA93105	NONE	PC	GENERAL USE	15,000
THE REGENTS OF THE UNIV OF CA 1111 FRANKLIN ST 12TH FLOOR OAKLAND,CA94607	NONE	PC	GENERAL USE	100,000
UC SANTA BARBARA FOUNDATION UCSB SANTA BARBARA,CA93106	NONE	PC	GENERAL USE	25,000
Total ................................. 3a				335,511

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 ...........			14	11,927
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	300,238
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER REVENUE			14	10,402
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		380,989	0

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

380,989

(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:

Schedule B
(Form 990)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

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

OMB No. 1545-0047

2021

Name of the organization

SUSAN & BRUCE WORSTER FOUNDATION

Employer identification number

77-0549392

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

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

Cat. No. 30613XSchedule B (Form 990) (2021)

Schedule B (Form 990) (2021) Page 2

Name of organization SUSAN & BRUCE WORSTER FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	CHARLES SCHWAB (BRUCE WORSTER IRA) 211 MAIN STREET SAN FRANCISCO, CA94105	$ 56,174	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	CHARLES SCHWAB (SUSAN WORSTER IRA) 211 MAIN STREET SAN FRANCISCO, CA94105	$ 63,187	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Schedule B (Form 990) (2021)

Page 3

Name of organization SUSAN & BRUCE WORSTER FOUNDATION		Employer identification number 77-0549392

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2021)

Schedule B (Form 990) (2021)

Page 4


Name of organization SUSAN & BRUCE WORSTER FOUNDATION			Employer identification number 77-0549392
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (2021)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2021 AccountingFeesSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	18,500	9,250		9,250

- TIN:

TY 2021 InvestmentsCorpBondsSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMC NETWORKS INC. 5%24	9,120	9,063
$20,000 WASHINGTON MUT B/E FLAT	18,829	0
MITSUBISHI UFJ FINANCIAL GROUP INC	8,782	8,747
AERCAP IRELAND CAP DESIGNATED ACTIVITY GTD	9,484	9,441
BANK OF NOVA SCOTIA BC SR NT ISIN#US064159VL701.300%	9,972	9,946
ROYAL BK CDA GLOBAL MED TERM NTS BOOK ENTRY	20,628	20,548
SUNCOR ENERGY INC NEW NT ISIN#US867224AD98 3.100%	20,999	20,902
AMERICAN HONDA FIN CORP MED TERM NTS 0.650%	9,990	9,971
AMGEN INC SR NT 2.200%	10,164	10,242
AUTONATION INC SR NTL.950%	9,737	9,787
BAT CAP CORP GTD FXD RT NT 3.222%	18,781	18,712
BANK AMER CORP MEDIUM TERN SR NT SER N FIXED/FLTG 3.974%	8,815	8,820
BEST BUY CO INC NT 1.950%	9,610	9,604
BIOGEN INC SR NT 2.250%	9,791	9,858
BOEING CO SR NT 2.800%	10,298	10,277
BROADCOM CORP/ BROADCOM CAYMAN FIN LTD GTD FXD RT SR	10,782	10,849
BUNGE LTD FIN CORP GTD FXD RT SR NT 3.250%	10,620	10,554
CONSTELLATION BRANDS INC 2.250%	9,739	9,785
DISCOVER FINL SVCS SR NT- FULLY EXCHANGED FROM CUSIP	10,288	10,264
ENERGY TRANSFER OPER LP SR NT 3.750%	10,579	10,607
ENTERGY LA LLC 0.950%	9,919	9,892
GENERAL MTRS CO FXD RT SR NT 5.000%	9,137	9,180
GOLDMAN SACHS GROUP INC SR NT 5.750%	67,124	67,202
HARRIS CORP DEL FXD RT SR NT 4.400%	9,025	8,986
HP INC NT 3.000%	10,526	10,523
JPMORGAN CHASE & CO FIXED TO FLTG RA TE NT 3.782%	10,828	10,832
KOHLS CORP NT 3.375%	10,264	10,195
LENNAR CORP GTD FXD RT SR NT 5.875%	19,906	19,818
MARATHON PETE CORP SR NT 4.700%	19,757	19,644
MARRIOTT INTL INC NEW NT SER FF 4.625%	9,067	9,008
MERCK & CO INC NEW NT 1.900%	9,982	10,050
MOLSON COORS BEVERAGE CO GTD SR NT 3.500%	13,138	13,107
MORGAN STANLEY FLTG RT GLOBAL NT SER 11.364%	10,138	10,118
MORGAN STANLEY GLOBAL MED TERM NT SER I FXD/FLTG 1.164%	19,848	19,846
NATIONAL RURAL UTILS COOP FIN CORP COLL TR BD 2.400%	10,110	10,094
PHILIP MORRIS INTL INC NT 2.500%	20,275	20,253
REALTY INCOME CORP FXD RT SR NT 4.125%	8,876	8,833
SIMON PPTY GROUP LP NT 2.450%	10,099	10,078
SOUTHWEST AIRLS CO NT 2.625%	10,047	9,995
SOUTHWEST AIRLS CO NT 4.750%	101,956	104,733
STATE STR CORP SR SUB NT 2.200%	9,875	9,924
STIFEL FINL CORP FXD RT SR NT 4.250%	10,777	10,650
SUNTRUST BKS INC FXD RT SR NT SER A 4.000%	10,841	10,795
V F CORP SR NT 2.400%	10,309	10,291
VMWARE INC 2.200%	9,666	9,818
WESTERN UN CO NT 1.350%	9,779	9,805
PIMCO INCOME FUND INSTITUTIONAL CLASS	75,000	75,379
PLAINS ALL AMERN PIPELINE LP PAA FIN CORP FIXED-TO-FLOATING 6.125%	84,250	84,875
PLAINS ALL AMERN PIPELINE LP PAA FIN	61,500	63,656
THE OSTERWEIS STRATEGIC INCOME FUND	75,691	75,370

- TIN:

TY 2021 InvestmentsCorpStockSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES	20,831	132,296
ALPHABET INC., CLASS A	13,611	130,367
ALPHABET INC., CLASS C	13,530	130,212
BANK OF AMERI 7.25% PFD	23,748	28,908
BERKSHIRE HATHAWAY, CLASS B	63,999	273,585
BOLLORE ORDF	34,996	53,162
CISCO SYSTEMS INC	17,025	66,222
CVS HEALTH CORP	29,801	48,485
EBAY INC	24,196	44,888
EQUITY COMMONWEALTH	28,343	22,533
FAIRFAX FINL HL F	62,788	115,667
HOWARD HUGHES CORP	29,693	48,346
KKR & CO INC	45,660	134,100
LIBERTY MEDIA CORP	33,825	61,020
MASTEC INC	31,069	63,212
MICROSOFT CORP	9,753	119,394
NESTLE S A F	33,465	77,204
NINTENDO LTD F	42,594	67,126
OKTA INC CLASS A	22,412	22,417
ROYCE VALUE CF	14,554	35,086
TWITTER INC	30,052	41,059
VIRTU FINL INCORPORA0050 CLASS A	22,781	23,785
WALT DISNEY CO	30,797	44,918
ALPHA ARCHTCT INTR QUNTV	34,969	27,626
ALPHA ARCHTCT US QUNTV	44,589	74,360
SPDR GOLD SHARES ETF	64,429	100,012
VANECK VECTORS GOLD	41,067	50,607
WISDOMTREE EMRG MRKT HG	35,691	35,739
OAKMARK INTERNATIONAL FUND INSTITUTIONAL CLASS	76,075	72,157
POLYPID LTD SHS	40,766	25,118
VANGUARD INTL EQUITY INDEX FDS FTSE EMERGING MARKETS ETF	74,978	72,261
BOSTON PPTYS INC COM	25,435	25,340
PROLOGIS INC COM	33,745	37,544
ABBOTT LABS COM	19,699	21,533
ADOBE SYS INC COM	19,990	17,012
ALPHABET INC CLASS A	73,997	72,426
AMAZON COM INC	61,241	60,018
APPLE INC COM	93,714	105,121
BANK OF AMERICA CORPORATION COM	26,838	25,982
BERKSHIRE HATHAWAY INC DEL CL B NEW	21,161	22,126
BROADCOM INC COM	25,752	29,943
CARRIER GLOBAL CORP COM	21,043	20,882
CHARGEPOINT HLDGS INC CL A	68,223	60,903
CHUBB LTD COM ISIN#CH0044328745	17,032	17,205
CIENA CORP COM NEW	34,872	49,954
CIGNA CORP NEW COM	34,791	39,956
CISCO SYSTEMS INC	17,231	18,948
CITIGROUP INC COM NEW ISIN#US1729674242	29,912	27,538
COMCAST CORP CL A	15,331	14,797
CONOCOPHILLIPS COM	28,999	28,150
CUMMINS INC	15,597	14,834
DANAHER CORP COM	29,138	31,256
DISNEY WALT CO DISNEY COM	23,597	21,994
EATON CORPORATION PLC SHS ISIN#IEOOB8KQN827	22,766	22,812
EMERSON ELEC CO COM	21,070	20,546
EXELON CORP COM	11,266	12,072
EXXON MOBIL CORP COM	24,995	23,681
GOLDMAN SACHS GROUP INC COM	16,275	15,685
GROCERY OUTLET HLDG CORP COM	70,095	84,105
HILTON WORLDWIDE HLDGS INC COM NEW	22,764	24,334
HOME DEPOT INC COM	15,806	17,015
HONEYWELL INTL INC COM	17,472	16,472
JOHNSON & JOHNSON COM	21,325	22,410
JP MORGAN CHASE & CO COM ISIN#US46625H1005	31,426	30,245
LINDE PLC SH ISIN#IEOOBZ12WP82	16,062	16,629
LYONDELLBASELL INDUSTRIES NV ORD SHS CL A	18,442	18,538
MASTERCARD INC CL A COM	13,017	13,654
MCDONALDS CORP	11,169	11,795
MEDTRONIC PLC SHS ISIN#IEOOBTN1Y115	21,126	18,414
MERCK & CO INC NEW COM	23,443	23,222
META PLATFORMS INC CL A	22,394	22,872
MICROSOFT CORP COM	104,108	103,923
MORGAN STANLEY COM NEW	29,136	28,957
NETFLIX INC COM	25,801	24,098
NEXTERA ENERGY INC COM	14,723	15,871
NIKE INC CL B	17,144	16,667
NVIDIA CORP COM	33,338	32,058
PAYPAL HLDGS INC COM	11,937	11,315
PEPSICO INC COM	22,740	23,798
PFIZER INC COM	13,977	18,187
PROCTER & GAMBLE CO COM	18,235	20,120
QUALCOMM INC	27,401	29,076
RAYTHEON TECHNOLOGIES CORP COM	27,978	27,195
SALESFORCE.COM INC COM STOCK	24,041	20,585
SERVICENOW INC COM	25,063	24,017
TARGET CORP COM	24,702	22,913
TESLA INC COM	17,521	17,965
TEXAS INSTRUMENTS INC	21,218	20,732
THERMO FISHER SCIENTIFIC INC COM	32,021	34,029
TJX COS INC NEW COM	17,030	18,600
UNION PAC CORP COM	20,099	20,910
UNITEDHEALTH GROUP INC COM	24,204	26,111
VERIZON COMMUNICATIONS INC COM	83,905	80,538
VERTEX PHARMACEUTICALS INC COM	35,107	41,285
VISA INC COM CL A	20,167	20,587
WALGREENS BOOTS ALLIANCE INC COM	35,120	40,320
WALMART INC COM	12,462	12,299
BAKKT HLDGS INC COM CL A	33,826	16,935
ISHARES TR RUSSELL 2000 VALUE ETF	71,011	67,250
SPDR S&P MIDCAP 400 ETF TR UNIT SER 1 STANDARD & POORS DEP	71,401	69,887

- TIN:

TY 2021 InvestmentsGovtObligationsSch

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

US Government Securities - End of Year Book Value:

50,500

US Government Securities - End of Year Fair Market Value:

51,234

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
DEER PARK TOTAL RETURN C	AT COST	45,623	44,649
DOUBLELINE TOTAL RETURN	AT COST	130,000	121,130

- TIN:

TY 2021 OtherAssetsSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED INTEREST RECEIVABLE	3,711	0	0
DIVIDENDS RECEIVABLE	727	1,442	1,442

- TIN:

TY 2021 OtherDecreasesSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Description	Amount
PRIOR PERIOD ADJUSTMENT	36,924

- TIN:

TY 2021 OtherExpensesSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BROKERAGE FEES	43,681	43,681	0
INVESTMENT EXPENSE	363	363	0
STATE FILING FEES	50	0	50
PORTFOLIO DEDUCTIONS FROM K-1	121	0	0

- TIN:

TY 2021 OtherIncomeSchedule2

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER REVENUE	10,402	10,402	10,402

- TIN:

TY 2021 TaxesSchedule

Name:

SUSAN & BRUCE WORSTER FOUNDATION

EIN:

77-0549392

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX EXPENSE	2,034	2,034		0