Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

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
R J MCELROY TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)425 CEDAR ST SUITE 312
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WATERLOO, IA50701
A Employer identification number

42-6173496
B Telephone number (see instructions)

(319) 287-9102
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$56,598,043J 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... 1,539,555 1,539,555  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 2,124,351
b Gross sales price for all assets on line 6a 13,439,853
7 Capital gain net income (from Part IV, line 2)... 1,763,840
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 1,043,707 105,130  
12 Total. Add lines 1 through 11........ 4,707,613 3,408,525  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 105,220 50,600   54,620
14 Other employee salaries and wages...... 63,422 6,342   57,080
15 Pension plans, employee benefits....... 13,393     13,393
16a Legal fees (attach schedule)......... Click to see attachment 1,038     1,038
b Accounting fees (attach schedule)....... Click to see attachment 18,400 4,600   13,800
c Other professional fees (attach schedule).... Click to see attachment 203,608 201,294   2,314
17 Interest............... 91,531 91,531    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 78,541 22,753    
19 Depreciation (attach schedule) and depletion... Click to see attachment 5,469    
20 Occupancy.............. 10,395     10,395
21 Travel, conferences, and meetings....... 3,308     3,308
22 Printing and publications.......... 1,002     1,002
23 Other expenses (attach schedule)....... Click to see attachment 175,335 102,056   73,279
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 770,662 479,176   230,229
25 Contributions, gifts, grants paid....... 2,525,532 2,525,532
26 Total expenses and disbursements. Add lines 24 and 25 3,296,194 479,176   2,755,761
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,411,419
b Net investment income (if negative, enter -0-) 2,929,349
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......... 284,126 512,841 512,841
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)      
b Investments—corporate stock (attach schedule)....... 30,589,316 Click to see attachment29,169,842 37,851,749
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 8,445,526 Click to see attachment11,042,473 18,233,453
14 Land, buildings, and equipment: basis bullet81,030
Less: accumulated depreciation (attach schedule) bullet70,717 5,082 Click to see attachment10,313  
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 39,324,050 40,735,469 56,598,043
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 39,324,050 40,735,469
29 Total net assets or fund balances (see instructions)..... 39,324,050 40,735,469
30 Total liabilities and net assets/fund balances (see instructions). 39,324,050 40,735,469
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
39,324,050
2
Enter amount from Part I, line 27a .....................
2
1,411,419
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
40,735,469
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
40,735,469
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 QC10W05001788 P    
b MS949028290 P    
c VINTAGE VII OFFSHORE LP P    
d QC12W05001788 P    
e MS949028290 P    
HAMILTON LANE P    
QC14W05001788 P    
MS949032246 P    
PRIVATE EQUITY CORE FUND P    
QC19W05001788 P    
MS949032246 P    
PRIVATE EQUITY CORE FUND P    
QC23W00501788 P    
MS949036750 P    
PRIVATE EQUITY CORE FUND P    
QC23W05001788 P    
MS949036750 P    
OAK STREET REAL ESTATE CAPITAL FD V P    
QC24W05001788 P    
MS949036750 P    
TOWNSQUARE REAL ESTATE ALPHA FD P    
QC25W05001788 P    
MS949036750 P    
TOWNSQUARE REAL ESTATE ALPHA FD P    
QC25W05001788 P    
MS949036751 P    
PENN SQUARE GLOBAL REAL ESTATE FD P    
QC30W05001788 P    
BAYVIEW CAPITAL PARTNERS III P    
PENN SQUARE GLOBAL REAL ESTATE FD P    
QC30W05001788 P    
COHESIVE CAPITAL PARTNERS III P    
PENN SQUARE GLOBAL REAL ESTATE FD P    
QC31W05001788 P    
CANYON VALUE REALIZATION FUND P    
SECURITIES LITIGATION PROCEEDS P    
MS949026084 P    
VINTAGE V OFFSHORE LP P    
MS949026084 P    
VINTAGE V OFFSHORE LP P    
MS949028290 P    
VINTAGE VI OFFSHORE LP P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 430,000   439,697 -9,697
b 735,710   505,182 230,528
c 6,052     6,052
d 100,000   79,249 20,751
e 91,977   23,534 68,443
171,057     171,057
33,446     33,446
153,386   132,870 20,516
1,089     1,089
350,015   296,947 53,068
420,834   359,360 61,474
96,479     96,479
134,823   137,297 -2,474
732,761   733,879 -1,118
158     158
65,177   28,879 36,298
20,498   21,665 -1,167
4,257     4,257
1,140,045   1,037,331 102,714
8,633   9,020 -387
    3,057 -3,057
1,374,536   1,387,010 -12,474
159,984   159,988 -4
1,239     1,239
2,078,375   2,045,426 32,949
13,405   17,315 -3,910
    252 -252
8,534   7,649 885
180,738     180,738
    11,147 -11,147
1,078,874   949,470 129,404
14,953     14,953
386     386
450,000   448,953 1,047
337     337
843     843
400,183   323,109 77,074
51,180     51,180
300,008   214,377 85,631
963     963
141,035   121,563 19,472
    4 -4
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       -9,697
b       230,528
c       6,052
d       20,751
e       68,443
      171,057
      33,446
      20,516
      1,089
      53,068
      61,474
      96,479
      -2,474
      -1,118
      158
      36,298
      -1,167
      4,257
      102,714
      -387
      -3,057
      -12,474
      -4
      1,239
      32,949
      -3,910
      -252
      885
      180,738
      -11,147
      129,404
      14,953
      386
      1,047
      337
      843
      77,074
      51,180
      85,631
      963
      19,472
      -4
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 1,763,840
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 3 113,250
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 40,718
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 40,718
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 37,000
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 7,500
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 44,500
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 192
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 3,590
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet3,590 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)
    bulletIA
    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 addressbulletWWW.MCELROYTRUST.ORG
    14
    The books are in care ofbulletMEGAN MCKENZIE Telephone no.bullet (319) 287-9102

    Located atbullet425 CEDAR ST SUITE 312WATERLOOIA ZIP+4bullet50701
    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? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletOC
    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
     
     
    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
     
    No
    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
    RALEIGH D BUCKMASTER TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    RICHARD C YOUNG TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    JAMES B WATERBURY TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    KATHY FLYNN TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    ROBERT L SMITH JR TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    MICHAEL R YOUNG TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    SALLY HOLLIS TRUSTEE
    2.00     		6,000 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    MEGAN MCKENZIE EXECUTIVE DI
    36.00     		63,220 0 0
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    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  
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    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
    37,330,963
    b
    Average of monthly cash balances.......................
    1b
    753,502
    c
    Fair market value of all other assets (see instructions)................
    1c
    16,543,141
    d
    Total (add lines 1a, b, and c).........................
    1d
    54,627,606
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    54,627,606
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    819,414
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    53,808,192
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    2,690,410
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    2,690,410
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    40,718
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    40,718
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,649,692
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    2,649,692
    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
    2,649,692
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 2,649,692
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 48,518
    b Total for prior years:20, 20, 20  
    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$ 2,755,761
    a Applied to 2020, but not more than line 2a 48,518
    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..... 2,649,692
    e Remaining amount distributed out of corpus 57,551
    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 57,551
    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 ..........     		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) .......     		 
    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 ......     		57,551
    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.... 57,551
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    MEGAN MCKENZIE
    425 CEDAR ST SUITE 312
    WATERLOO,IA50701
    (319) 287-9102
    bThe form in which applications should be submitted and information and materials they should include:
    GRANT APPLICATIONS ARE FILLED OUT ONLINE THROUGH THEIR WEBSITE AT WWW.MCELROYTRUST.ORG. APPLICATIONS MUST INCLUDE THE PROJECT NAME, PROJECT SUMMARY, START/END DATE, HOW THE GRANT ALIGNS WITH MCELROY'S STRATEGIC MISSION, TYPE OF FUNDING NEEDED, TOTAL COST OF PROJECT AND HOW MUCH FUNDING IS REQUESTED.
    cAny submission deadlines:
    THE TRUST CONSIDERS GRANT PROPOSALS THROUGHOUT THE YEAR.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    EDUCATION PROJECTS - YOUTH IN NORTHEAST IOWA
    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
    SCHEDULED - ATTACHED
    SCHEDULED
    SCHEDULED,IA50701     		N/A PUBLIC SCHEDULED 2,525,532
    Total .................................bullet 3a 2,525,532
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,763,840 360,511
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aBAYVIEW III - ADD BOOK INC     		    14 -109,296  
    bBAYVIEW CAPITAL III 900099 82,771      
    cBAYVIEW IV - ADD BOOK INC     14 165,103  
    dBAYVIEW CAPITAL IV 900099 10,444      
    eBAYVIEW CAPITAL IV 900099 766      
    fBLACKSTONE EN - ADD BOOK IN     14 18,630  
    gCOHESIVE CAP - ADD BOOK INC     14 20,205  
    hGOLDMAN V - ADD BOOK INC     14 34,710  
    iGOLDMAN VI - ADD BOOK INC     14 211,102  
    jGOLDMAN VII - ADD BOOK INC     14 500,506  
    kNORTHERN TRUST 900099 7,354      
    lNORTHERN TRUST - ADD BOOK I     14 8,340  
    mOAK STREET - ADD BOOK INC     14 5,235  
    nPENN SQUARE - ADD BOOK INC     14 -298  
    oPENN SQUARE GLOBAL REAL EST 900099 162      
    pTOWNSQUARE - ADD BOOK INC     14 -25,660  
    qTOWNSQUARE REAL ESTATE ALPH 900099 5,975      
    rTOWNSQUARE REAL ESTATE ALPH 900099 1,520      
    sTOWNSQUARE REAL ESTATE ALPH 900099 1,008      
    12 Subtotal. Add columns (b), (d), and (e) .. 110,000 4,237,102 360,511
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,707,613
    (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:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 18,400 4,600   13,800

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    TY 2021 DepreciationSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    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
    FILES 1983-12-31 832 832 S/L 5.0000        
    WORD PROCESSOR 1984-04-30 4,066 4,066 S/L 5.0000        
    FILE CABINET 1989-01-31 650 650 S/L 7.0000        
    CARPET 1989-12-31 2,043 2,043 S/L 7.0000        
    COMPUTER 1992-08-31 6,926 6,926 S/L 5.0000        
    FURNITURE 1993-06-30 854 854 S/L 7.0000        
    FAX AND TYPEWRITER 1993-06-30 1,697 1,697 S/L 5.0000        
    REDECORATING 1993-09-30 4,816 4,816 S/L 7.0000        
    CARPET 1993-09-30 1,389 1,389 S/L 7.0000        
    DOORS 1993-09-30 839 839 S/L 7.0000        
    CHAIRS - 4 1993-10-31 1,901 1,901 S/L 7.0000        
    DESK 1994-01-31 292 292 S/L 7.0000        
    COMPUTER 1997-11-20 8,819 8,819 S/L 5.0000        
    COPIER 1998-11-17 5,775 5,775 S/L 5.0000        
    TELEPHONE SYSTEM 1999-10-28 5,738 5,738 S/L 5.0000        
    OFFICE FURNITURE 2004-09-15 4,166 4,166 S/L 7.0000        
    LAPTOP COMPUTER 2006-03-14 953 953 S/L 5.0000        
    PHONE 2006-11-29 488 488 S/L 5.0000        
    CHAIR 2006-11-29 449 449 S/L 7.0000        
    BOOKCASE CABINET 2007-08-09 2,116 2,116 S/L 7.0000        
    COMPUTER 2013-12-11 1,271 1,271 200DB 5.0000        
    OFFICE FURNITURE 2018-07-30 4,085 4,085 200DB 7.0000        
    GRANTS MANAGEMENT SOFTWARE 2019-07-12 10,165 5,083   3.0000 3,388      
    SOFTWARE 2021-06-28 10,700     3.0000 2,081      

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    TY 2021 GainLossSaleOtherAssetsSch
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    QC14W05001788   PURCHASE     2,181,783 1,821,272     360,511  

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Name of Stock End of Year Book Value End of Year Fair Market Value
    DOUBLE TOTAL RETURN 2,332,882 2,301,457
    KOPERNIK 959,131 1,290,023
    VIRTUS EM    
    VANGUARD INT'L EQUITY 4,395,813 5,563,550
    VOO 4,272,072 6,010,696
    OAKMARK GLOBAL EQUITY 1,492,953 2,082,563
    EDGEWOOD LARGE CAP 1,157,735 2,847,404
    ISHARES BC TIP ETF 1,122,581 1,228,692
    ISHARES BC AGG ETF    
    LAZARD SMA 1,803,322 2,686,675
    ISHARES CORE S&P SMALL-CAP ETF 713,712 1,163,192
    ISHARES CORE S&P MID-CAP ETF 1,118,171 1,832,377
    ARISOTLE 1,917,729 2,618,494
    PIMCO COMMODITY REAL RETURN 2,618,573 2,960,565
    MAN AHL TARGET RISK    
    GARCIA HAMILTON 3,400,633 3,431,073
    MARTIN CURRIE EM 1,864,535 1,834,988

    TY 2021 InvestmentsOtherSchedule2
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BAYVIEW CAPITAL III AT COST 811,231 873,434
    BAYVIEW CAPITAL PARTNERS IV AT COST 201,548 130,668
    BLACKSTONE ENERGY II AT COST 424,982 397,870
    BTO OFFSHORE FEEDER FUND AT COST 613,077 843,334
    CANYON AT COST 397,704 637,639
    CASCADE FUND LTD AT COST 630,000 627,812
    COHESIVE CAPITAL PARTNERS III AT COST 198,549 259,174
    GOLDENTREE AT COST 997,537 1,568,896
    GOLDMAN SACHS VINTAGE FD V OFFSHORE AT COST 168,468 141,855
    GOLDMAN SACHS VINTAGE FD VI OFFSHORE AT COST 554,726 388,663
    GOLDMAN SACHS VINTAGE OFFSHORE VIII AT COST 835,988 548,654
    HAMILTON LANE AT COST 1,503,402 2,181,765
    HCP MILLENNIUM AT COST 1,192,157 1,909,237
    MAKENA PERPETUAL VC FUND AT COST 1,317,906 1,580,140
    PRIVATE EQUITY CORE FUND III AT COST 62,696 350,968
    OAK STREET REC V AT COST 253,748 278,018
    PENN SQUARE GLOBAL REAL ESTATE FUND AT COST 194,062 125,955
    POINTER OFFSHORE ACCOUNT AT COST 100,000 2,764,745
    THIRD POINT LLC AT COST 85,907 2,230,281
    TOWN SQUARE REAL ESTATE ALPHA FUND AT COST 498,785 394,345

    TY 2021 LandEtcSchedule2
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      81,030 70,717 10,313  


    TY 2021 LegalFeesSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT LEGAL FEES 1,038     1,038


    TY 2021 OtherExpensesSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    INSURANCE 4,609 1,152   3,457
    DUES 1,168     1,168
    OFFICE EXPENSE 1,894     1,894
    MISCELLANEOUS 4,950     4,950
    OTHER - SCHEDULED 54,624     54,624
    ALLOCATED INVESTMENT OPERATIN 91,785 91,785    
    POSTAGE 116     116
    UTILITIES 5,570     5,570
    CONTINUING EDUCATION 1,500     1,500
    OTHER INCOME PRODUCING ACTIVI 8,956 8,956    
    INVESTMENT EXPENSE 163 163    


    TY 2021 OtherIncomeSchedule2
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    INVESTMENT ALLOCATED ORDINARY 44,809 44,809  
    INVESTMENT ALLOCATED OPERATIN 3,046 3,046  
    PASSIVE INCOME 57,275 57,275  
    BAYVIEW III - ADD BOOK INC -109,296    
    BAYVIEW CAPITAL III 82,771    
    BAYVIEW IV - ADD BOOK INC 165,103    
    BAYVIEW CAPITAL IV 10,444    
    BAYVIEW CAPITAL IV 766    
    BLACKSTONE EN - ADD BOOK INC 18,630    
    COHESIVE CAP - ADD BOOK INC 20,205    
    GOLDMAN V - ADD BOOK INC 34,710    
    GOLDMAN VI - ADD BOOK INC 211,102    
    GOLDMAN VII - ADD BOOK INC 500,506    
    NORTHERN TRUST 7,354    
    NORTHERN TRUST - ADD BOOK INC 8,340    
    OAK STREET - ADD BOOK INC 5,235    
    PENN SQUARE - ADD BOOK INC -298    
    PENN SQUARE GLOBAL REAL EST 162    
    TOWNSQUARE - ADD BOOK INC -25,660    
    TOWNSQUARE REAL ESTATE ALPHA 5,975    
    TOWNSQUARE REAL ESTATE ALPHA 1,520    
    TOWNSQUARE REAL ESTATE ALPHA 1,008    


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMMUNITY BANK & TRUST 7,713 5,399   2,314
    GOLDMAN SACHS V - ALLOCATED FROM 2,076 2,076    
    GOLDMAN SACHS VI - ALL FROM PSP 5,825 5,825    
    GOLDMAN SACHS VII - ALL FROM PSP 9,998 9,998    
    OAK STREET - ALLOCATED FROM PSP 5,954 5,954    
    OTHER 172,042 172,042    


    TY 2021 TaxesSchedule
    Name:
    R J MCELROY TRUST
    EIN:
    42-6173496
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAXES 55,788      
    FOREIGN TAXES 22,753 22,753