Form990-PF
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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
The Tapeats Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

76-0412011
B Telephone number (see instructions)

(800) 839-1754
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$20,277,493J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 610 610  
4 Dividends and interest from securities... 383,048 383,048  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,278,083
b Gross sales price for all assets on line 6a 4,281,990
7 Capital gain net income (from Part IV, line 2)... 1,276,484
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)....... Click to see attachment 69,769 30,710  
12 Total. Add lines 1 through 11........ 1,731,510 1,690,852  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 92,165 78,316   13,849
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 33,823 1,158    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 29,890     29,890
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 101,360 22,039   78,575
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 257,238 101,513   122,314
25 Contributions, gifts, grants paid....... 735,000 735,000
26 Total expenses and disbursements. Add lines 24 and 25 992,238 101,513   857,314
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 739,272
b Net investment income (if negative, enter -0-) 1,589,339
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 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.............      
2 Savings and temporary cash investments......... 1,722,821 470,342 470,342
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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 bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,494,509 Click to see attachment1,399,567 1,409,182
b Investments—corporate stock (attach schedule)....... 9,182,824 Click to see attachment11,835,164 14,606,117
c Investments—corporate bonds (attach schedule)....... 1,019,694 Click to see attachment901,577 918,635
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,522,417 Click to see attachment2,074,887 2,873,217
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,942,265 16,681,537 20,277,493
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 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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 15,942,265 16,681,537
29 Total net assets or fund balances (see instructions)..... 15,942,265 16,681,537
30 Total liabilities and net assets/fund balances (see instructions). 15,942,265 16,681,537
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
15,942,265
2
Enter amount from Part I, line 27a .....................
2
739,272
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
16,681,537
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
16,681,537
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 Publicly-traded Securities      
b Passthrough K1 Capital Gain/(Loss)      
c LIGHTHOUSE DIVERSIFIED FD LTD P 2009-12-31 2021-03-03
d DISTRIBUTION IN EXCESS OF BASIS      
e
(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 3,151,125   2,359,555 791,570
b       90,479
c 1,130,865   750,000 380,865
d       13,570
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       791,570
b        
c       380,865
d        
e
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 1,276,484
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  
3 Add lines 1 and 2........................... 3 22,092
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 22,092
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 17,482
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 4,800
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 22,282
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 190
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet190 RefundedBullet 11  
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletTX
    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 addressbulletN/A
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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)
     
    No
    (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
     
     
    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)
     
    No
    (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
     
     
    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
    Margaret Borho Executive Dir, Sec
    20.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    David R Graham Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Laurel A Graham Executive VP, Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Robert H Graham Pres, Treas, Trustee
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Spencer R Graham Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Whitney G Mixon Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    Total number of other employees paid over $50,000...................bullet  
    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
    CIBC Private Wealth Management INVESTMENT MGMT 78,316
    1177 Avenue of the Americas
    NEW YORK,NY10036
    Foundation Source Administrative 78,575
    55 Walls Drive 3rd Fl
    Fairfield,CT06824
    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)
    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
    15,826,773
    b
    Average of monthly cash balances.......................
    1b
    1,058,724
    c
    Fair market value of all other assets (see instructions)................
    1c
    2,750,431
    d
    Total (add lines 1a, b, and c).........................
    1d
    19,635,928
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    19,635,928
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    294,539
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    19,341,389
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    967,069
    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
    967,069
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    22,092
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    7,056
    c
    Add lines 2a and 2b............................
    2c
    29,148
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    937,921
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    937,921
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    937,921
    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 7 937,921
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 224,351
    b Total for prior years:2019, 2018, 2017  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 857,314
    a Applied to 2020, but not more than line 2a 224,351
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount..... 632,963
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021.    
    (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 ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		304,958
    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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    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).)
    Laurel A Graham
    Robert H Graham
    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:
    GRANT APPS TO MARGARET BORHO
    55 WALLS DRIVE 3RD FLOOR
    fairfield,CT06824
    (800) 839-1754
    bThe form in which applications should be submitted and information and materials they should include:
    FSREQUESTS.COM/TAPEATS
    cAny submission deadlines:
    FSREQUESTS.COM/TAPEATS
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FSREQUESTS.COM/TAPEATS
    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
    ALLIANCE FOR CHOICE IN EDUCATION
    5251 DTC PKWY STE 1150
    GREENWOOD VILLAGE,CO80111     		N/A PC ACE Houston K-12 Scholarship Program 7,500
    BAYOU PRESERVATION ASSOCIATION INC
    7305 NAVIGATION BLVD STE A
    HOUSTON,TX77011     		N/A PC Operating Support 2,500
    BOS PLACE
    10050 BUFFALO SPEEDWAY
    HOUSTON,TX77054     		N/A PC General Operating Funds 10,000
    BREAKTHROUGH HOUSTON
    2401 CLAREMONT LN
    HOUSTON,TX77019     		N/A PC General & Unrestricted 15,000
    BRIDGEYEAR
    3414 EASTSIDE ST
    HOUSTON,TX77098     		N/A PC General & Unrestricted 5,000
    BUFFALO BAYOU PARTNERSHIP
    1019 COMMERCE ST SUITE 200
    HOUSTON,TX77002     		N/A PC General Operating Support 5,000
    CAMP ARANZAZU INC
    5420 FM 1781
    ROCKPORT,TX78382     		N/A PC Campers with Special Needs and Chronic Illness 5,000
    CAMP FOR ALL FOUNDATION
    3701 KIRBY DR STE 570
    HOUSTON,TX77098     		N/A PC Equestrian Program 5,000
    CASA DE ESPERANZA DE LOS NINOS INCORPORATED
    PO BOX 301209
    HOUSTON,TX77230     		N/A PC Residential Program 5,000
    CENTRAL TEXAS FOOD BANK INC
    6500 METROPOLIS DR
    AUSTIN,TX78744     		N/A PC General & Unrestricted 7,500
    CHILDRENS MUSEUM INC
    1500 BINZ ST
    HOUSTON,TX77004     		N/A PC Open Doors 5,000
    CHINQUAPIN PREPARATORY SCHOOL
    2615 E WALLISVILLE RD
    HIGHLANDS,TX77562     		N/A PC General & Unrestricted 12,500
    COLLABORATIVE FOR CHILDREN
    1111 N LOOP W STE 600
    HOUSTON,TX77008     		N/A PC General & Unrestricted 10,000
    CRISTO REY JESUIT HIGH SCHOOL OF HOUSTON INC
    6700 MOUNT CARMEL ST
    HOUSTON,TX77087     		N/A PC General & Unrestricted 5,000
    DISCOVERU
    7676 HILLMONT ST STE 239
    HOUSTON,TX77040     		N/A PC General & Unrestricted 2,500
    DOG IS MY COPILOT
    PO BOX 3399
    JACKSON,WY83001     		N/A PC General & Unrestricted 7,500
    DRESS FOR SUCCESS HOUSTON
    3310 EASTSIDE ST
    HOUSTON,TX77098     		N/A PC Job Search 5,000
    EMERGE FELLOWSHIP
    11251 NW FWY STE 330
    HOUSTON,TX77092     		N/A PC EMERGE's HS fellowship and College success program 7,500
    FISHER HOUSE FRIENDS OF HOUSTON
    8118 MEGAN PL DR
    HOUSTON,TX77095     		N/A PC General & Unrestricted 2,500
    FOUNDATION FOR TEEN HEALTH
    2726 BISSONNET ST STE 240 168
    HOUSTON,TX77005     		N/A PC General & Unrestricted 5,000
    FUELED SCHOOLS INC
    2990 RICHMOND AVE STE 525
    HOUSTON,TX77098     		N/A PC FuelEd Educator Training and Community Support 5,000
    GALVESTON BAY FOUNDATION
    1725 HWY 146
    KEMAH,TX77565     		N/A PC General & Unrestricted 2,500
    GEORGETOWN PROJECT
    PO BOX 957
    GEORGETOWN,TX78627     		N/A PC General & Unrestricted 8,000
    GOOD REASON HOUSTON INC
    8 GREENWAY PLZ STE 900
    HOUSTON,TX77046     		N/A PC General & Unrestricted 10,000
    HARD TO LOVE
    234 E EDISON AVE
    DES MOINES,IA50315     		N/A PC General & Unrestricted 4,000
    HEIFER PROJECT INTERNATIONAL
    PO BOX 8058
    LITTLE ROCK,AR72203     		N/A PC General & Unrestricted 1,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC General Operations 10,000
    HOUSTON HABITAT FOR HUMANITY INC
    3750 N MCCARTY ST
    HOUSTON,TX77029     		N/A PC General & Unrestricted 5,000
    HOUSTON INDEPENDENT SCHOOL DISTRICT FOUNDATION
    PO BOX 27904
    HOUSTON,TX77227     		N/A PC General & Unrestricted 5,000
    HOUSTON MUSEUM OF NATURAL SCIENCE
    5555 HERMANN PARK DR
    HOUSTON,TX77030     		N/A PC General & Unrestricted 5,000
    HOUSTON PARKS BOARD
    300 N POST OAK LN
    HOUSTON,TX77024     		N/A PC Houston Parks Board Mission Support 5,000
    HOUSTON WILDERNESS INC
    1334 BRITTMOORE RD STE 2804
    HOUSTON,TX77043     		N/A PC General & Unrestricted 5,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC Conservation Education Programs 55,000
    KIPP TEXAS INC
    10711 KIPP WAY DR
    HOUSTON,TX77099     		N/A PC KIPP Forward 10,000
    LONE STAR FLIGHT MUSEUM
    11551 AEROSPACE AVE
    HOUSTON,TX77034     		N/A PC Girls in Aviation 5,000
    MARBRIDGE FOUNDATION INC
    PO BOX 2250
    MANCHACA,TX78652     		N/A PC General & Unrestricted 10,000
    MEDICAL BRIDGES INC
    2706 MAGNET ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 7,500
    MGVP INC
    PO BOX 356
    DAVIS,CA95617     		N/A PC Gorilla Doctors 30,000
    MOBILE LOAVES & FISHES INC
    9301 HOG EYE RD UNIT 950
    AUSTIN,TX78724     		N/A PC Community First! Village 8,000
    MONTANA LAND RELIANCE
    PO BOX 355
    HELENA,MT59624     		N/A PC Project and Stewardship in the Madison Valley 5,000
    MOTORCYCLE MISSIONS
    2001 PARKER LN APT 127
    AUSTIN,TX78741     		N/A PC General & Unrestricted 8,000
    NORAS GIFT FOUNDATION INC
    8300 EL RIO ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 5,000
    OPERATION UNDERGROUND RAILROAD INC
    PO BOX 560902
    DENVER,CO80256     		N/A PC General & Unrestricted 20,000
    OURTOWN
    2321 MORRO RD
    FALLBROOK,CA92028     		N/A PC General & Unrestricted 25,000
    P4L
    1800 W LOOP S STE 1875
    HOUSTON,TX77027     		N/A PC Lemonade Day Houston 2,500
    PARKS AND WILDLIFE FOUNDATION OF TEXAS INC
    2914 SWISS AVE
    DALLAS,TX75204     		N/A PC General & Unrestricted 5,000
    PATHWAYS FOR LITTLE FEET
    9 GREENWAY PLZ STE 3150
    HOUSTON,TX77046     		N/A PC New Adoption Grants Program and Expansion Initiati 5,000
    PATRIOT PAWS SERVICE DOGS
    254 RANCH TRL
    ROCKWALL,TX75032     		N/A PC General & Unrestricted 5,000
    PEREGRINE FUND INC
    5668 W FLYING HAWK LN
    BOISE,ID83709     		N/A PC General & Unrestricted 10,000
    POSITIVE COACHING ALLIANCE
    66 FRANKLIN ST STE 300
    OAKLAND,CA94607     		N/A PC PCA-Houston chapter 10,000
    POSITIVE COACHING ALLIANCE
    66 FRANKLIN ST STE 300
    OAKLAND,CA94607     		N/A PC PCA - Central Texas chapter 10,000
    PRISON ENTREPRENEURSHIP PROGRAM
    PO BOX 2767
    HOUSTON,TX77252     		N/A PC Workforce Training Entrepreneurship Development 20,000
    PRO-VISION INC
    4590 WILMINGTON ST
    HOUSTON,TX77051     		N/A PC General & Unrestricted 5,000
    PROJECT GRAD HOUSTON
    2950 BROADWAY ST
    HOUSTON,TX77017     		N/A PC GRAD Houston-College Access 5,000
    RANCH HANDS RESCUE
    8827 HWY 377 SOUTH
    ARGYLE,TX76226     		N/A PC Genreal operations and the care and feeding of the 30,000
    RANCH HANDS RESCUE
    8827 HWY 377 SOUTH
    ARGYLE,TX76226     		N/A PC EAAC Counseling Program 5,500
    SCENIC TEXAS INC
    PO BOX 6446
    AUSTIN,TX78762     		N/A PC Placemaking Assessment & Education Programs 2,500
    SLEEP IN HEAVENLY PEACE INC
    PO BOX 116
    KIMBERLY,ID83341     		N/A PC Fort Worth, TX chapter 5,500
    SMALL STEPS NURTURING CENTER
    2902 JENSEN DR
    HOUSTON,TX77026     		N/A PC Scholarship Society 5,000
    SPARK
    PO BOX 1562
    HOUSTON,TX77251     		N/A PC Park Construction 2,500
    STUDENT CONSERVATION ASSOCIATION INC
    689 RIVER RD
    CHARLESTOWN,NH03603     		N/A PC SCA Houston Urban Initiatives 5,000
    SUNSHINE KIDS FOUNDATION
    2814 VIRGINIA ST
    HOUSTON,TX77098     		N/A PC General & Unrestricted 2,500
    TEACH FOR AMERICA - HOUSTON
    2 GREENWAY PLZ 500
    HOUSTON,TX77046     		N/A PC Teach For America Houston 20,000
    TEAM RUBICON
    214 MAIN ST 354
    EL SEGUNDO,CA90245     		N/A PC General & Unrestricted 5,000
    THE BROOKWOOD COMMUNITY INC
    1752 FM 1489
    BROOKSHIRE,TX77423     		N/A PC Operating Support for Revenue Lost Due to COVID-19 5,000
    THE MONARCH SCHOOL INC
    2815 ROSEFIELD DR
    HOUSTON,TX77080     		N/A PC Scholarship Program 5,000
    THE POSSE FOUNDATION INC
    14 WALL ST STE 8A60
    NEW YORK,NY10005     		N/A PC Posse Foundation - Houston 5,000
    THE UNIVERSITY OF TEXAS AT AUSTIN
    PO BOX 7458
    AUSTIN,TX78713     		N/A GOV Funds to be allocated as follows: $4,000 to the La 10,000
    TREES FOR HOUSTON
    PO BOX 270477
    HOUSTON,TX77277     		N/A PC General & Unrestricted 2,500
    UNIVERSITY OF CENTRAL FLORIDA FOUNDATION INC
    12424 RESEARCH PKWY STE 250
    ORLANDO,FL32826     		N/A PC Limbitless Solutions, Inc. 5,000
    URBAN HARVEST INC
    3302 CANAL ST 73
    HOUSTON,TX77003     		N/A PC General & Unrestricted 2,500
    W OSCAR NEUHAUS MEMORIAL FOUNDATION
    4433 BISSONNET ST
    BELLAIRE,TX77401     		N/A PC Teacher Professional Learning Program 5,000
    WARRIORS & QUIET WATERS FOUNDATION
    351 EVERGREEN DR STE A
    BOZEMAN,MT59715     		N/A PC General & Unrestricted 5,000
    WILD SKIES RAPTOR CENTER
    PO BOX 3676
    MISSOULA,MT59806     		N/A PC Rescue, rehabilitate, release, and educate. 10,000
    WILDLIFE CONSERVATION NETWORK INC
    209 MISSISSIPPI ST
    SAN FRANCISCO,CA94107     		N/A PC Wildlife Conservation 110,000
    WOODS PROJECT INC
    2700 SW FWY STE B
    HOUSTON,TX77098     		N/A PC General & Unrestricted 10,000
    YELLOWSTONE ACADEMY INC
    3000 TRULLEY ST
    HOUSTON,TX77004     		N/A PC General & Unrestricted 5,000
    YES PREP PUBLIC SCHOOLS INC
    5455 S LOOP EAST FWY
    HOUSTON,TX77033     		N/A PC General Operating Support 10,000
    Total .................................bullet 3a 735,000
    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 ...........     		    14 610  
    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 ............     		525990 1,599 18 1,276,484  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -29,146 14 30,786  
    bSEC 751 GAIN FROM PTSHP 525990 68,129      
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 40,582 1,690,928  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,731,510
    (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

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

    TY 2021 DepreciationSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2021 GeneralExplanationAttachment
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Identifier Return Reference Explanation
    PART I LINE 6A (990-PF) PART I LINE 6A (990-PF) RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $1,276,484 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $1,599 TOTAL PART I, LINE 6A: $1,278,083 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $3,151,125 BOOK BASIS: $2,359,555 NET GAIN/(LOSS): $791,570 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $90,479 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $1,130,865 BOOK BASIS: $750,000 NET GAIN/(LOSS): $380,865 DISTRIBUTION IN EXCESS OF BASIS NET GAIN/(LOSS): $13,570

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS BOND - 3.750% - 11 74,406 82,925
    BLACKROCK INC FR - 3.375% - 06 76,829 75,935
    CINTAS CORP - 3.700% - 04/01/2 106,315 109,369
    CISCO SYSTEMS INC - 3.625% - 0 103,130 106,106
    DEERE JOHN CAP CORP - 2.800% - 20,126 20,452
    ELECTRONIC ARTS INC NOTE - 4.8 105,453 100,327
    MORGAN STANLEY - 3.125% - 01/2 52,974 51,270
    PFIZER INC NT - 3.400% - 05/15 100,397 105,694
    PRAXAIR INC NT - 2.200% - 08/1 45,819 50,311
    STRYKER CORP - 3.375% - 11/01/ 82,068 85,253
    UNITED PARCEL SERVICE - 3.400% 134,060 130,993

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 48,308 73,607
    ADOBE SYSTEMS, INC 87,744 124,753
    AIA GROUP LTD ADR 14,292 13,910
    ALCON INC 9,322 13,068
    ALIBABA GROUP HOLDING LTD 24,157 10,097
    ALPHABET INC CL A 116,294 191,205
    ALPHABET INC CL C 90,565 193,871
    AMADEUS IT HLDS SA 12,283 15,102
    AMAZON COM 261,012 373,446
    AMERICAN TOWER REIT INC 38,690 45,630
    AMERICAN WATER WORKS COMPANY I 20,665 30,784
    AMPHENOL CORPORATION 11,209 16,093
    ANALOG DEVICES INC 42,584 64,859
    APPLE INC 88,757 194,617
    ASML HOLDING NV NY REG SHS 30,500 57,322
    ASSA ABLOY UNSP/ADR 9,373 12,460
    ASTRAZENECA 78,436 84,929
    AUTOMATIC DATA PROCESSING INC 34,225 57,207
    BAE SYSTEMS PLC 10,954 13,018
    BANCO SANTANDER CEN 12,587 13,489
    BHP BILLITON LIMITED 20,463 18,045
    BIO TECHNE CORPORATION 32,427 32,592
    BLACKROCK INC 32,378 54,934
    BOOKING HOLDINGS INC 82,154 86,372
    BROOKFIELD ASSET MANAGEMENT CL 5,509 9,902
    BROWN & BROWN INC 31,102 44,276
    CANADIAN NATL RAILWAY CO 8,360 9,952
    CDW CORP 24,067 27,850
    CHARLES SCHWAB CORP 67,997 131,448
    CHEVRON CORP 32,254 37,787
    CHIPOTLE MEX GRILL 42,438 55,944
    CHUBB LIMITED 9,028 13,338
    CINTAS CRP 21,236 31,022
    CISCO SYSTEMS INC 75,247 107,032
    CME GROUP, INC 31,174 36,097
    COHEN & STEERS PREFRRD SECS & 889,980 892,939
    COMPASS GROUP PLC ADR 11,202 12,850
    CONTL AG SPONS ADR 12,706 12,110
    COSTAR GROUP, INC 34,418 37,618
    COSTCO WHOLESALE CORPORATION 45,799 79,478
    D R HORTON 21,775 24,835
    DAIKIN INDS LTD ADR 13,003 15,431
    DANAHER CORP 73,708 145,093
    DBS GROUP HLDGS SPON ADR 8,238 12,267
    DIAGEO PLC ADS 10,454 15,630
    DOLLAR GENERAL CORP 48,669 58,958
    ECOLAB INC 62,405 66,154
    EDWARDS LIFESCIENCES 40,606 64,645
    ENTEGRIS INC 56,447 63,470
    EPAM SYSTEMS INC 15,249 44,118
    EQUINOR ASA 7,632 10,242
    EURONET WORLDWIDE INC 11,999 10,487
    FANUC LIMITED UNSPONSORED 15,263 15,158
    FIDELITY NATIONAL INFORMATION 73,679 58,832
    FISERV INC 53,707 52,103
    FOMENTO ECONOMICO MEXICANO 4,889 6,528
    GOLDMAN SACHS GROUP 45,319 70,772
    GXO LOGISTICS 34,029 60,674
    HDFC BANK LTD ADR 20,025 16,333
    HEXAGON 6,469 9,443
    HOME DEPOT INC 73,610 123,673
    HONEYWELL INTL 86,098 106,966
    ICON PLC - AMERICAN DEPOSITARY 10,364 16,724
    IDEXX CORP 29,475 61,237
    INTERCONTINENTAL EXCHANGE, INC 38,226 54,161
    INTERCONTINENTAL HOTELS GROUP 10,413 11,933
    INTUITIVE SURGICAL 40,148 66,830
    JOHN HANCOCK FDS III DISCIPLIN 1,081,818 1,501,770
    JP MORGAN CHASE 70,339 99,444
    JULIUS BAER GROUP LTD 9,271 12,747
    L'AIR LIQUIDE ADR OTC 11,809 13,320
    LINDE PLC COM 40,044 68,940
    LLOYDS BANKING GROUP PLC 10,387 16,504
    LONDON STK EXCHANGE GROUP 13,135 10,922
    LVMH MOET HENN UNSP 11,403 18,205
    MARTIN MARIETTA MATLS INC 75,759 114,535
    MARVELL TECHNOLOGY, INC 25,444 30,272
    MASTERCARD INC 44,776 52,820
    MATTHEWS PACIFIC TIGER FUND I 1,458,984 1,411,809
    MEDTRONIC PLC 47,633 49,863
    MERCADOLIBRE, INC 5,114 5,394
    MICROSOFT CORP 228,727 434,525
    MIDDLEBY CORPORATION 48,209 52,338
    MONDELEZ INTERNATIONAL INC 38,301 47,677
    MONOLITHIC POWER SYSTEMS, INC 9,518 20,720
    NEXTERA ENERGY, INC 67,753 98,682
    NIDEC CORPORATION ADR 14,002 15,670
    NOVARTIS AG ADR 11,215 11,896
    NVIDIA CORP 38,343 110,585
    OTIS WORLDWIDE CORP 44,615 65,390
    PALO ALTO NETWORKS INC 61,168 74,049
    PAYPAL HOLDINGS, INC 19,510 23,573
    PEPSICO INC 41,269 54,892
    PIMCO COMMODITY REAL RETURN ST 925,811 910,665
    PIONEER NAT RES CO 49,120 70,388
    PNC FINANCIAL GROUP INC 55,046 79,807
    QUALCOMM INC 34,935 76,988
    RAYTHEON TECHNOLOGIES CORP 74,597 87,265
    RITCHIE BROS AUCTIONEERS 10,361 10,589
    ROBERT HALF INTL INC 44,844 60,555
    ROPER INDUSTRIES 85,572 104,274
    ROYAL DUTCH SHEL PLC SPONS ADR 5,773 10,057
    S&P GLOBAL INC COM 116,395 163,760
    SALESFORCE.COM 76,000 100,127
    SEVEN & I HOLDINGS C 6,445 8,564
    SHERWIN-WILLIAMS CO 38,990 68,671
    SIEMENS AG 10,801 13,336
    SONY CORP ADR - OLD 10,062 15,168
    STANLEY BLACK & DECKER INC 68,847 69,601
    STRYKER CORPORATION 32,705 45,729
    SVB FINANCIAL GROUP 14,049 14,243
    SYMRISE AG UNSPONSORED 13,222 14,902
    SYSMEX CORP UNSP ASDR 12,302 17,078
    T-MOBILE US INC 76,354 89,769
    T. ROWE PRICE INSTL FLOATING R 1,022,937 1,020,891
    TAIWAN SEMICONDUCTOR MFG CO LT 13,751 12,512
    TARGET CORPORATION 27,595 25,921
    TE CONNECTIVITY LTD 63,128 77,282
    TEMENOS GROUP AG 6,237 7,235
    TENCENT HOLDINGS LIMITED 27,389 18,306
    THE BLACKSTONE GROUP INC CL A 96,707 218,540
    THERMO FISHER SCIENTIFIC INC 45,959 88,076
    TJX COMPANIES INC 28,278 38,795
    TOKIO MARINE HOLDINGS INC 6,114 7,225
    TREX CO INC 35,720 73,456
    TWEEDY BROWNE GLOBAL VALUE FUN 586,746 635,033
    TYLER TECHNOLOGIES, INC 12,894 18,290
    UBISOFT ENTERTAIN UNSP ADR EAC 17,429 10,169
    UNION PACIFIC 56,788 74,571
    UNITED RENTALS INC 21,667 39,210
    UNITEDHEALTH GROUP INC 83,311 144,616
    US BANCORP 53,012 69,819
    VERSUS CAPITAL REAL ASSETS FUN 579,965 623,274
    VESTAS WIND SYS UNSP/ADR 10,081 8,899
    VISA INC 136,926 153,647
    WALT DISNEY HOLDINGS CO 65,501 70,940
    YUM CHINA HOLDINGS INC 13,303 11,912
    ZOETIS INC 69,154 115,670

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    US Government Securities - End of Year Book Value:

    1,399,567
    US Government Securities - End of Year Fair Market Value:

    1,409,182
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2021 InvestmentsOtherSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AP ENERGY INFRASTRUCTURE FND L   680,973 1,126,243
    ATLAS POINT GLOBAL MULTI STRAT   1,000,000 982,311
    COUGAR INVESTMENT FUND LLC.   393,914 491,078
    PINEHURST INSTITUTIONAL LTD     273,585

    TY 2021 OtherExpensesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 78,575     78,575
    Bank Charges 253 253    
    K-1 Exp AP ENERGY INFRASTRUCTU 20,609 19,863    
    K-1 Exp COUGAR INVESTMENT FUND 1,923 1,923    


    TY 2021 OtherIncomeSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss AP ENERGY INFRASTRUCTURE FND LLC -5,780 23,290  
    K-1 Inc/Loss COUGAR INVESTMENT FUND LLC. 7,420 7,420  
    SEC 751 GAIN AP ENERGY INFRASTRUCTURE 68,129    


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 78,316 78,316    
    PROFESSIONAL MGMT SERVICES 13,849     13,849


    TY 2021 TaxesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2021 13,800      
    990-PF Extension for 2020 9,230      
    990-T Extension for 2020 2,500      
    990-T Income Tax for 2020 6,826      
    Foreign Tax Paid 1,158 1,158    
    IRS MISCELLANEOUS FEE 309