Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
The Jennings Family Foundation
c/o National Christian Foundation TC
Number and street (or P.O. box number if mail is not delivered to street address)7701 France Avenue S 360
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Edina, MN55435
A Employer identification number

41-1765206
B Telephone number (see instructions)

(612) 288-2292
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$29,924,172J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 614,627 614,627  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,407,459
b Gross sales price for all assets on line 6a 12,111,842
7 Capital gain net income (from Part IV, line 2)... 3,407,459
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 5,142 5,142  
12 Total. Add lines 1 through 11........ 4,027,228 4,027,228  
Operating and Administrative Expenses 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)....... Click to see attachment 14,704 0   7,869
c Other professional fees (attach schedule).... Click to see attachment 254,738 190,288   64,450
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,477 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 2,700 0   2,700
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 274,619 190,288   75,019
25 Contributions, gifts, grants paid....... 7,455,000 7,455,000
26 Total expenses and disbursements. Add lines 24 and 25 7,729,619 190,288   7,530,019
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,702,391
b Net investment income (if negative, enter -0-) 3,836,940
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............. 322,959 495,145 495,145
2 Savings and temporary cash investments......... 1,058,736 1,623,619 1,623,619
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) 753,795 Click to see attachment432,876 431,551
b Investments—corporate stock (attach schedule)....... 15,472,652 Click to see attachment2,996,553 6,184,493
c Investments—corporate bonds (attach schedule)....... 6,303,979 Click to see attachment1,704,795 1,665,834
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 101,600 Click to see attachment13,064,071 19,523,530
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) 24,013,721 20,317,059 29,924,172
Liabilities 17 Accounts payable and accrued expenses.......... 730 7,565
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)......... 730 7,565
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........... 24,012,991 20,309,494
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    
29 Total net assets or fund balances (see instructions)..... 24,012,991 20,309,494
30 Total liabilities and net assets/fund balances (see instructions). 24,013,721 20,317,059
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
24,012,991
2
Enter amount from Part I, line 27a .....................
2
-3,702,391
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
20,310,600
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1,106
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
20,309,494
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 Wells Fargo Publicaly Traded Securities      
b Bank of America Publicaly Traded Securities      
c
d
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 10,934,268   7,916,759 3,017,509
b 1,177,574   787,624 389,950
c
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       3,017,509
b       389,950
c
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 3,407,459
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 53,333
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 53,333
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 8,339
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 40,885
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 49,224
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 4,109
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet   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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    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 ofbulletNational Christian Foundation TC Telephone no.bullet (612) 214-2822

    Located atbullet7701 France Avenue S Suite 360EdinaMN ZIP+4bullet55435
    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
    Joel Jennings President
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    Mary Lee Jennings Director
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    Wendi J Moffly Director
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    Tracey J Hagman Director (partial year)
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    Todd R Jennings Director (partial year)
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    Jocelyn Jodi J Jennings Director (partial year)
    0.10     		0 0 0
    7701 France Avenue S Suite 360
    Edina,MN55435
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Bank of America Investment Management 100,557
    PO Box 830269
    Dallas,TX554353206
    Wells Fargo Investment Management 89,732
    PO Box 2999
    Minneapolis,MN55402
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    31,377,299
    b
    Average of monthly cash balances.......................
    1b
    1,807,115
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    33,184,414
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    33,184,414
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    497,766
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    32,686,648
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,634,332
    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
    1,634,332
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    53,333
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    53,333
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,580,999
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,580,999
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,580,999
    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 1,580,999
    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...... 1,885,263
    b From 2017...... 2,769,530
    c From 2018...... 2,827,897
    d From 2019...... 2,424,852
    e From 2020...... 2,681,633
    f Total of lines 3a through e ........ 12,589,175
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 7,530,019
    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..... 1,580,999
    e Remaining amount distributed out of corpus 5,949,020
    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 18,538,195
    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) ...     		1,885,263
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		16,652,932
    10 Analysis of line 9:
    a Excess from 2017.... 2,769,530
    b Excess from 2018.... 2,827,897
    c Excess from 2019.... 2,424,852
    d Excess from 2020.... 2,681,633
    e Excess from 2021.... 5,949,020
    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).)
    Joel Jennings
    Mary Lee Jennings
    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:
    National Christian Foundation Twin
    7701 France Avenue S Suite 360
    Edina,MN55435
    (612) 288-2292
    bThe form in which applications should be submitted and information and materials they should include:
    No application form; however, please provide IRS determination letter.
    cAny submission deadlines:
    None
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    None
    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
    Alzheimer's Association
    7900 W 78th St Suite 100
    Minneapolis,MN55439     		None PC General Support 25,000
    Anselm House
    1337 Cleveland Ave N
    St Paul,MN55108     		None PC General Support 3,600,000
    Bethany International
    6820 Auto Club Road Suite J
    Bloomington,MN55438     		None PC General Support 300,000
    Beyond Limits
    6820 Auto Club Road Suite P
    Bloomington,MN55438     		None   General Support 50,000
    CBMC
    PO Box 8009 Chattanooga
    Chatanaoog,TN374110009     		None PC Ministry of Alan Smith 40,000
    CURE International
    701 Bosler Ave
    Lemoyne,PA17043     		None PC General Support 50,000
    Edina Rotary Foundation
    5101 Vernon Ave S Ste 501
    Edina,MN55436     		None PC Fundraiser Gala Sponsorship 5,000
    FCA
    2001 University Ave NE Suite 100
    Minneapolis,MN55414     		None PC General Support - MN Organization 50,000
    Forever Adventure
    4316 Washburn Ave N
    Minneapolis,MN55412     		None PC General Support 50,000
    Freeset USA
    2943 Riverside Dr
    Cincinnati,OH45226     		None PC General Support 50,000
    Good Cities
    7340 Hunters Run
    Eden Prairie,MN55346     		None PC General Support 35,000
    Heshima Foundation
    PO Box 306
    Wheaton,IL60187     		None   Housing 500,000
    Hope Academy
    2300 Chicago Avenue
    Minneapolis,MN55404     		None PC Student Scholarships, Boaz Gifts 200,000
    Hope United CDC
    PO Box 11996
    Mineaispol,MN55412     		None PC Franklin School Students 25,000
    HopeKids
    PO Box 44712
    Eden Prairie,MN55344     		None PC General Support 20,000
    International Justice Mission
    PO Box 96961
    Washington,DC200906961     		None PC General Support 100,000
    Kenya Children's Fund
    PO Box 4159
    Hopkins,MN55343     		None PC General Support 50,000
    Living Well Disability Services
    1168 Northland Drive
    Mendota Heights,MN55120     		None PC General Support 20,000
    Luis Palau Association
    PO Box 50
    Portland,OR97207     		None PC General Support 40,000
    Minnesota Adult and Teen Challenge
    740 E 24th St
    Minneapolis,MN55404     		None PC General Support 100,000
    Minnesota Family Institute
    2855 Anthony Lane South
    Minneapolis,MN55418     		None PC General Support 75,000
    National Christian Foundation
    7701 France Ave S
    Edina,MN55435     		None PC Multiple Giving Funds 220,000
    New Life Family Services
    1515 East 66th St
    Richfield,MN55423     		None PC General Support 30,000
    Pregnancy Choices
    15010 Glazier Ave Ste 104
    Apple Valley,MN55124     		None PC General Support 15,000
    Rotary International
    5418 Creek View Lane
    Edina,MN55439     		None PC General Support 10,000
    Sanford Health
    1305 W 18th St
    Sioux Falls,SD57117     		None PC Spirit Camp 15,000
    Search Ministries
    7400 Metro Blvd Suite 210
    Edina,MN55436     		None PC General Support 50,000
    The Navigaotrs
    PO Box 6000
    Colorado Springs,CO80934     		None PC Mutua Mahiaini 50,000
    Thrive
    PO Box 151927 Lakewood
    Lakewood,CO80215     		None PC General Support 50,000
    TreeHouse
    5666 Lincoln Drive Ste 201
    Edina,MN55436     		None PC General Support 50,000
    True Friends
    10509 108th St NW
    Annandale,MN55302     		None PC General Support 30,000
    Union Gospel Mission
    PO Box 64389
    St Paul,MN55164     		None PC General Support 70,000
    Urban Ventures
    2924 4th Ave S
    Minneapolis,MN55408     		None PC Installment 6 of 6 on $3M pledge 500,000
    Wayman AME Church
    1221 7th Ave N
    Minneapolis,MN55411     		None PC Ministry of Richard Coleman 15,000
    World Vision
    4325 Upton Ave S
    Minneapolis,MN55410     		None PC Syria Refugees and Zambia Agri. 850,000
    Young Life - Capernaum
    PO Box 398195
    Minneapolis,MN55439     		None PC General Support 40,000
    Young Life - Eastern Division
    23636 Glenn Drive
    Sterling,VA20164     		None PC Wiley Scott 25,000
    Young Life - Minneapolis
    PO Box 390546
    Minneapolis,MN55439     		None PC General Support 50,000
    Total .................................bullet 3a 7,455,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 3,407,459  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 4,027,228 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,027,228
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting Fees 14,704 0   7,869

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC 4.550% 3/09/49 110,932 119,082
    HOME DEPOT INC 3.125% 12/15/49 64,588 68,502
    MORGAN STANLEY 3.875% 4/29/24 81,523 79,507
    MOSAIC CO 4.250% 11/15/23 80,096 78,886
    PAYPAL HOLDINGS INC 2.650% 10/01/26 79,466 78,731
    PNC FINANCIAL SERVIC 2.550% 1/22/30 78,440 77,102
    STATE STREET CORP 3.550% 8/18/25 78,684 80,796
    TOTAL CAPITAL INTL 2.829% 1/10/30 84,269 78,530
    TOYOTA MOTOR CREDIT 0.800% 1/09/26 73,593 72,922
    UNITEDHEALTH GROUP 3.750% 7/15/25 103,971 108,426
    VISA INC 4.300% 12/14/45 70,781 62,919
    VR BANK OF AMERICA 1.922% 10/24/31 48,945 47,873
    PGIM HIGH YIELD-Q #1067 225,000 224,675
    FIDELITY NEW MRKTS INC-Z #3323 163,538 158,098
    TCW EMRG MRKTS INC-PLAN #5721 360,969 329,785

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BOOKING HOLDINGS INC 34,500 59,981
    NIKE INC CL B 31,380 70,001
    TARGET CORP 21,866 67,118
    WALT DISNEY CO 24,858 68,152
    CVS HEALTH CORPORATION 36,624 77,370
    MONDELEZ INTERNATIONAL INC 45,575 72,278
    SYSCO CORP 33,183 61,662
    BLACKROCK INC 34,103 96,134
    BLACKSTONE INC 28,331 72,458
    CITIGROUP INC. 99,906 100,247
    JPMORGAN CHASE & CO 47,453 137,765
    ABBVIE INC 64,575 81,240
    ELI LILLY & CO COM 52,182 93,915
    MERCK & CO INC NEW 54,601 74,341
    THERMO FISHER SCIENTIFIC INC 6,191 70,060
    UNITEDHEALTH GROUP INC 36,796 138,089
    BOEING CO 18,388 43,284
    RAYTHEON TECHNOLOGIES CORP 74,113 81,499
    UNION PACIFIC CORP 20,581 71,800
    UNITED PARCEL SERVICE-CL B 30,838 83,593
    WASTE MANAGEMENT INC 56,936 85,119
    ALPHABET INC CL C 52,038 286,465
    APPLE INC 35,768 326,729
    BROADCOM INC 38,507 99,812
    CISCO SYSTEMS INC 25,603 92,520
    COGNIZANT TECH SOLUTIONS CRP COM 56,224 79,404
    FIDELITY NATL INFORMATION SVCS INC 70,708 65,490
    LAM RESEARCH CORP COM 14,387 68,319
    META PLATFORMS INC 38,943 42,044
    MICROSOFT CORP 33,022 341,365
    TE CONNECTIVITY LTD 51,948 75,023
    VISA INC-CLASS A SHRS 58,724 73,681
    CELANESE CORP 28,686 92,433
    SPDR S&P MIDCAP 400 ETF TRUST 360,356 1,033,289
    HASBRO INC 60,082 63,613
    INTERPUBLIC GROUP COS INC 46,275 72,466
    LAS VEGAS SANDS CORP 90,034 49,685
    ELECTRONIC ARTS INC 47,666 59,355
    ISHARES RUSSELL 2000 ETF 278,986 674,468
    HAIN CELESTIAL GROUP INC 16,705 40,480
    GARMIN LTD 47,017 64,000
    DIAGEO PLC - ADR 34,636 80,351
    UNILEVER PLC - ADR 40,494 41,418
    SUNCOR ENERGY INC NEW F 76,635 67,956
    TOTALENERGIES SE -SPON ADR 70,805 66,276
    MANULIFE FINANCIAL CORP 75,209 87,627
    TORONTO DOMINION BK ONT COM NEW 64,680 87,799
    MEDTRONIC PLC 44,109 47,587
    EATON CORP PLC 70,233 101,964
    INV OPP DEVELOP MRKTS-R6 #7038 50,000 44,065
    ISHARES CORE MSCI EMERGING ETF 165,093 152,703

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    US Government Securities - End of Year Book Value:

    432,876
    US Government Securities - End of Year Fair Market Value:

    431,551
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2021 InvestmentsOtherSchedule2
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CARILLON SCOUT MID CAP FUND CL I AT COST 149,000 238,029
    DOMINI IMPACT INTL EQUITY FUND INSTL CL AT COST 1,022,500 1,111,958
    OAKMARK INTL FD CL INSTITUTIONAL AT COST 210,030 266,246
    INVESCO FTSE RAFI US 1500 SMALL-MID ETF AT COST 204,301 331,658
    INVESCO FTSE RAFI US 1000 ETF AT COST 127,758 212,221
    ISHARES CORE S&P SMALL CAP ETF AT COST 175,135 236,463
    ORION OFFICE REIT INC REG SHS AT COST 5,776 5,228
    PAX WORLD SMALL CAP FUND INSTITUTIONAL CL AT COST 765,000 869,381
    PRIMECAP ODYSSEY GROWTH FUND CL NL AT COST 406,030 685,272
    REALTY INCM CRP MD PV$1. REIT AT COST 83,635 200,452
    SPDR S&P 500 ETF TRUST AT COST 1,054,104 1,749,753
    SPDR S&P MIDCAP 400 ETF TRUST AT COST 622,066 1,495,578
    VANGUARD FTSE DEVELOPED MARKETS ETF AT COST 334,390 773,457
    VANGUARD FTSE EMERGING MARKETS ETF AT COST 281,381 629,972
    WELLTOWER INC AT COST 97,920 171,540
    COLUMBIA TOTAL RETURN BOND FUND CL INSTL3 AT COST 900,000 909,761
    ISHARES FLOATING RATE BOND ETF AT COST 200,948 201,652
    SPDR PORTFOLIO SHORT TER CORP BOND ETF AT COST 205,966 205,517
    AT&T INC CLD GLB 04.125% FEB 17 2026 AT COST 24,671 27,282
    ABBOTT LABORATORIES GLB 02.950% MAR 15 2025 AT COST 21,313 21,007
    ABBVIE INC GLB 03.200% NOV 21 2029 AT COST 21,397 21,404
    ALEXANDRIA REAL ESTATE E COMPANY GUARNT GLB 04.900% DEC 15 2030 AT COST 12,756 12,024
    AMERICAN EXPRESS CO GLB 02.500% JUL 30 2024 AT COST 18,449 20,667
    AMERICAN TOWER CORP GLB 03.125% JAN 15 2027 AT COST 10,687 10,475
    AMGEN INC GLB 02.200% FEB 21 2027 AT COST 15,560 15,363
    ANHEUSER-BUSCH INBEV WOR COMPANY GUARNT GLB 04.000% APR 13 2028 AT COST 20,135 22,263
    ANTHEM INC GLB 03.650% DEC 01 2027 AT COST 20,791 21,956
    AON CORP COMPANY GUARNT GLB 02.800% MAY 15 2030 AT COST 16,605 15,474
    APPLE INC GLB 02.850% FEB 23 2023 AT COST 34,526 35,732
    BOSTON PROPERTIES LP - 03.800% FEB 01 2024 AT COST 10,383 10,460
    CVS HEALTH CORP GLB 04.300% MAR 25 2028 AT COST 22,565 22,460
    CARRIER GLOBAL CORP GLB 02.242% FEB 15 2025 AT COST 5,222 5,122
    CITIGROUP INC - 03.200% OCT 21 2026 AT COST 23,410 26,507
    COMCAST CORP COMPANY GUARNT GLB 03.150% MAR 01 2026 AT COST 37,923 42,667
    DEKALB KANE ETC IL CMTY CCD523 TAXABLE TAXABLE MAR20 01.869%FEB01 2023 AT COST 40,000 40,366
    WALT DISNEY COMPANY/THE COMPANY GUARNT GLB 02.000% SEP 01 2029 AT COST 29,337 29,870
    USD ENBRIDGE INC 4.000% OCT 01 2023 AT COST 10,476 10,442
    EQUINIX INC GLB 03.200% NOV 18 2029 AT COST 9,384 9,469
    EQUINOR ASA COMPANY GUARNT GLB 03.125% APR 06 2030 AT COST 10,750 10,754
    EVERSOURCE ENERGY SER L 02.900% OCT 01 2024 AT COST 23,768 25,898
    GOLDMAN SACHS GROUP INC GLB VAR%APR 23 2029 AT COST 23,057 21,772
    HOME DEPOT INC GLB 03.350% SEP 15 2025 AT COST 24,778 26,700
    JPMORGAN CHASE & CO GLB VAR%APR 22 2032 AT COST 33,144 33,462
    LINCOLN NATIONAL CORP GLB 03.050% JAN 15 2030 AT COST 10,930 10,409
    LOCKHEED MARTIN CORP GLB 03.550% JAN 15 2026 AT COST 17,048 16,245
    LOWE'S COS INC GLB 03.650% APR 05 2029 AT COST 22,103 21,944
    MASTERCARD INC GLB 03.350% MAR 26 2030 AT COST 34,487 33,034
    MICROSOFT CORP GLB 02.700% FEB 12 2025 AT COST 41,146 41,893
    MITSUBISHI UFJ FIN GRP GLB 03.455% MAR 02 2023 AT COST 26,388 25,747
    MORGAN STANLEY SER GMTN GLB 03.700% OCT 23 2024 AT COST 21,874 21,304
    NEW YORK NY CITY TFA REV TAXABLE PRF22 TAXABLE SEP16 02.400%AUG01 2025 AT COST 70,328 77,671
    NEW YORK ST URBAN DEV CORP REV ST B TAXABLE MAR17 03.270%MAR15 2027 AT COST 73,328 80,944
    NIKE INC GLB 02.400% MAR 27 2025 AT COST 32,265 31,070
    NOVARTIS CAPITAL CORP COMPANY GUARNT GLB 01.750% FEB 14 2025 AT COST 30,158 30,428
    PNC FINANCIAL SERVICES GLB 03.500% JAN 23 2024 AT COST 20,539 20,945
    PROLOGIS LP GLB 01.250% OCT 15 2030 AT COST 24,631 23,276
    SALESFORCE.COM INC GLB 01.950% JUL 15 2031 AT COST 24,942 24,796
    SAN JOSE CA RDA SUCCESS REF BDS SER A-T TAXABLE DEC17 03.176%AUG01 2026 AT COST 72,649 79,927
    USD SCHLUMBERGER INV 3.650% DEC 01 2023 AT COST 20,059 20,892
    SEMPRA ENERGY GLB 03.400% FEB 01 2028 AT COST 21,313 21,306
    SHELL INTERNATIONAL FIN COMPANY GUARNT GLB 03.250% MAY 11 2025 AT COST 24,287 26,618
    SIMON PROPERTY GROUP INC GLB 01.375% JAN 15 2027 AT COST 24,443 24,431
    STARBUCKS CORP GLB 03.500% MAR 01 2028 AT COST 10,835 10,823
    TARGET CORP GLB 02.250% APR 15 2025 AT COST 15,314 15,464
    TORONTO-DOMINION BANK SER MTN 00.750% JAN 06 2026 AT COST 34,013 33,935
    UNION PACIFIC CORP GLB 02.400% FEB 05 2030 AT COST 15,054 15,301
    UNITED PARCEL SERVICE - 03.400% MAR 15 2029 AT COST 30,548 32,749
    U.S. TREASURY NOTE 0.625% AUG 15 2030 AT COST 14,657 14,004
    U.S. TREASURY NOTE 0.125% OCT 31 2022 AT COST 35,007 34,941
    U.S. TREASURY NOTE 0.375% DEC 31 2025 AT COST 19,730 19,395
    U.S. TREASURY NOTE 1.125% FEB 15 2031 AT COST 39,167 38,864
    U.S. TREASURY NOTE 0.750% AUG 31 2026 AT COST 39,520 39,128
    U.S. TREASURY NOTE 2.750% FEB 15 2024 AT COST 14,759 15,625
    U.S. TREASURY NOTE 2.250% NOV 15 2024 AT COST 72,604 77,774
    U.S. TREASURY NOTE 2.000% FEB 15 2025 AT COST 9,354 10,303
    U.S. TREASURY NOTE 2.000% FEB 15 2022 AT COST 53,692 55,125
    U.S. TREASURY NOTE 1.750% MAY 15 2022 AT COST 39,667 40,234
    U.S. TREASURY NOTE 2.000% FEB 15 2023 AT COST 40,800 40,691
    U.S. TREASURY NOTE 1.750% MAY 15 2023 AT COST 47,594 50,826
    U.S. TREASURY NOTE 2.500% AUG 15 2023 AT COST 54,162 56,650
    U.S. TREASURY NOTE 2.500% MAY 15 2024 AT COST 39,019 41,561
    U.S. TREASURY NOTE 2.375% MAY 15 2027 AT COST 28,311 26,403
    U.S. TREASURY NOTE 1.625% AUG 15 2029 AT COST 54,764 50,772
    U.S. TREASURY NOTE 0.500% MAY 31 2027 AT COST 14,472 14,374
    U.S. TREASURY NOTE 2.875% MAY 15 2028 AT COST 38,928 43,614
    U.S. TREASURY NOTE 3.125% NOV 15 2028 AT COST 48,313 44,497
    UNITEDHEALTH GROUP INC GLB 03.100% MAR 15 2026 AT COST 32,631 32,083
    UNIVERSITY CALIF REVS LTD PROJ BDS N TAXABLE SEP17 03.039%MAY15 2027 AT COST 70,808 79,970
    UNIVERSITY HOUSTON TEX UNIV REVS CONS B TAXABLE FEB16 02.800%FEB15 2024 AT COST 29,133 31,141
    UNIVERSITY PITTSBURGH PA HIGHER ED SER A TAXABLE JAN17 02.532%SEP15 2022 AT COST 40,450 40,607
    VERIZON COMMUNICATIONS GLB 01.500% SEP 18 2030 AT COST 23,044 23,474
    ACCENTURE PLC SHS AT COST 34,907 87,885
    EATON CORP PLC AT COST 32,057 78,287
    JOHNSON CONTROLS INTER AT COST 14,555 35,207
    MEDTRONIC PLC SHS AT COST 59,338 71,587
    STERIS PLC REG SHS AT COST 9,038 16,795
    TRANE TECHNOLOGIES PLC AT COST 17,576 49,497
    AMN HEALTHCARE SVCS INC AT COST 9,548 20,918
    ABBOTT LABS AT COST 50,476 114,281
    ADOBE INC SHS AT COST 36,228 84,492
    AIR PRODUCTS&CHEM AT COST 23,181 45,335
    ALEXANDRIA REAL EST EQTS REIT AT COST 26,740 35,228
    ALPHABET INC SHS CL C AT COST 118,496 303,827
    AMERICAN TOWER REIT INC (HLDG CO) SHS AT COST 11,377 12,870
    AMERICAN WTR WKS CO INC NEW AT COST 25,176 55,714
    ELEVANCE HEALTH INC AT COST 29,538 49,135
    APPLE INC AT COST 112,867 430,075
    APPLIED MATERIAL INC AT COST 26,381 90,482
    APTARGROUP INC AT COST 15,214 15,555
    ASSURANT INC AT COST 13,521 12,936
    AUTODESK INC DEL PV$0.01 AT COST 32,620 33,180
    AVERY DENNISON CORP AT COST 15,254 35,951
    BALL CORP COM AT COST 10,766 29,266
    BAXTER INTERNTL INC AT COST 25,516 27,040
    BEST BUY CO INC AT COST 15,343 25,400
    BLACKROCK INC AT COST 36,727 70,498
    BORG WARNER INC COM AT COST 49,056 46,152
    CBRE GROUP INC CL A AT COST 18,573 42,644
    CVS HEALTH CORP AT COST 36,459 57,151
    CARMAX INC AT COST 39,380 50,139
    CISCO SYSTEMS INC COM AT COST 57,070 83,522
    CITIGROUP INC COM NEW AT COST 76,184 81,768
    CLOROX CO DEL COM AT COST 65,382 72,534
    COLGATE PALMOLIVE AT COST 24,958 32,088
    COMCAST CORP NEW CL A AT COST 55,661 66,687
    CONOCOPHILLIPS AT COST 76,828 82,574
    CUMMINS INC COM AT COST 30,599 35,993
    DECKERS OUTDOORS CORP AT COST 13,678 15,385
    DEERE CO AT COST 20,140 49,033
    DEXCOM INC AT COST 26,613 37,587
    DISNEY (WALT) CO COM STK AT COST 40,162 59,168
    DISCOVER FINL SVCS AT COST 62,800 59,976
    EBAY INC COM AT COST 45,266 70,823
    ECOLAB INC AT COST 22,719 37,769
    EDWARDS LIFESCIENCES CRP AT COST 19,135 50,525
    ELECTRONIC ARTS INC DEL AT COST 38,194 37,064
    EMERSON ELEC CO AT COST 46,431 61,918
    ETSY INC SHS AT COST 6,441 29,557
    EXPEDITORS INTL WASH INC AT COST 15,231 27,529
    GENERAL MILLS AT COST 35,490 46,694
    W W GRAINGER INCORP AT COST 18,177 33,686
    HANESBRANDS INC AT COST 12,702 10,433
    HASBRO INC COM AT COST 13,358 14,656
    HERSHEY COMPANY AT COST 17,618 27,473
    HESS CORP AT COST 44,463 52,339
    HOLOGIC INC AT COST 14,423 14,164
    HOME DEPOT INC AT COST 43,095 90,887
    HUMANA INC AT COST 30,310 47,314
    HUNTNGTN BANCSHS INC MD AT COST 19,295 22,837
    IDEXX LAB INC DEL $0.10 AT COST 16,619 44,775
    INTL FLAVORS&FRAGRNC AT COST 12,428 15,065
    INTRPUBLIC GRP OF CO AT COST 36,415 35,390
    INTUIT INC COM AT COST 21,596 44,382
    ITRON INC AT COST 19,208 16,102
    LAM RESEARCH CORP COM AT COST 34,163 79,826
    LAUDER ESTEE COS INC A AT COST 13,466 34,429
    LOWE'S COMPANIES INC AT COST 24,232 61,518
    MARKETAXESS HOLDINGS INC AT COST 28,827 29,200
    MASTERCARD INC AT COST 27,740 50,305
    METTLER-TOLEDO INTL INC AT COST 20,192 59,402
    MICROSOFT CORP AT COST 101,175 343,383
    MOODY'S CORP AT COST 22,980 23,825
    MORGAN STANLEY AT COST 49,485 119,657
    NASDAQ OMX GRP INC AT COST 10,889 22,051
    NEXTERA ENERGY INC SHS AT COST 44,215 98,588
    NIKE INC CL B AT COST 42,258 87,502
    NVIDIA AT COST 29,102 118,820
    OTIS WORLDWIDE CORP REG SH AT COST 14,873 14,976
    OWENS CORNING INC AT COST 7,728 17,014
    PNC FINCL SERVICES GROUP AT COST 58,628 90,234
    PVH CORP AT COST 27,221 25,809
    PEPSICO INC AT COST 46,969 74,348
    PHILLIPS 66 SHS AT COST 59,980 55,577
    PRICE T ROWE GROUP INC AT COST 15,721 32,052
    PROGRESSIVE CRP OHIO AT COST 17,836 23,610
    PROLOGIS INC AT COST 24,175 55,390
    QUALCOMM INC AT COST 19,690 41,877
    ROCKWELL AUTOMATION INC AT COST 26,898 56,514
    S&P GLOBAL INC AT COST 17,423 39,642
    SVB FINL GROUP AT COST 13,927 44,086
    SALESFORCE INC AT COST 47,420 88,183
    SEMPRA AT COST 35,507 37,038
    STARBUCKS CORP AT COST 63,560 89,599
    TJX COS INC NEW AT COST 37,983 60,053
    T-MOBILE US INC SHS AT COST 28,950 24,240
    TARGET CORP COM AT COST 18,786 56,934
    TERADYNE INC AT COST 16,382 21,095
    TETRA TECH INC NEW AT COST 13,288 39,054
    TEXAS INSTRUMENTS AT COST 32,118 54,845
    TRACTOR SUPPLY CO AT COST 9,488 18,611
    TRUIST FINL CORP AT COST 22,860 22,425
    VERIZON COMMUNICATNS COM AT COST 47,556 48,635
    VISA INC CL A SHRS AT COST 31,132 48,326
    WASTE MANAGEMENT INC NEW AT COST 25,063 37,386
    WATTS WATER TECH INC AT COST 12,719 20,194
    WELLTOWER INC AT COST 42,215 41,942
    WEST PHARMACTL SVCS INC AT COST 11,417 36,583
    WHIRLPOOL CORP AT COST 12,819 14,549
    XYLEM INC SHS AT COST 22,713 40,893
    ZOETIS INC AT COST 41,029 111,034
    Acrued Income AT COST 30,965 30,965
    AMERICAN TOWER CORP AT COST 52,944 218,205
    ISHARES GOLD TRUST ETF AT COST 191,909 228,423
    PIMCO COMMODITY REAL RET STRAT-I#45 AT COST 100,000 96,651
    BLACKROCK GL L/S CREDIT-K #1940 AT COST 132,270 131,213
    BOSTON P LNG/SHRT RES-INS #7015 AT COST 78,320 83,712
    NEUBERGER BERMAN LONG SH-INS #1830 AT COST 73,973 90,941

    TY 2021 OtherDecreasesSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Description Amount
    Timing Difference 1,106


    TY 2021 OtherExpensesSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Supplies 2,700 0   2,700


    TY 2021 OtherIncomeSchedule2
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Wells Fargo Other Investment Income 5,142 5,142 5,142


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Fees 190,288 190,288   0
    NCF Management Fees 64,450 0   64,450


    TY 2021 TaxesSchedule
    Name:
    The Jennings Family Foundation
     
    c/o National Christian Foundation TC
    EIN:
    41-1765206
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Excise Taxes 2,477 0   0