Form990-PF
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
Michael and Ina Korek Foundation Trust
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

77-6140213
B Telephone number (see instructions)

(800) 839-1754
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$10,557,686J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 60 60  
4 Dividends and interest from securities... 202,018 202,018  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 930,254
b Gross sales price for all assets on line 6a 3,078,779
7 Capital gain net income (from Part IV, line 2)... 771,328
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 -6,541 36  
12 Total. Add lines 1 through 11........ 1,125,791 973,442  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 98,666     98,666
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 56,634 56,634    
17 Interest............... 3 3    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 6,064 164    
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 59,241 11,044   47,940
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 220,608 67,845   146,606
25 Contributions, gifts, grants paid....... 290,485 290,485
26 Total expenses and disbursements. Add lines 24 and 25 511,093 67,845   437,091
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 614,698
b Net investment income (if negative, enter -0-) 905,597
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......... 535,984 841,102 841,102
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) 636,728 Click to see attachment718,549 749,025
b Investments—corporate stock (attach schedule)....... 5,510,781 Click to see attachment6,294,659 7,275,478
c Investments—corporate bonds (attach schedule)....... 652,398 Click to see attachment110,999 111,896
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 907,436 Click to see attachment868,659 1,580,185
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) 8,243,327 8,833,968 10,557,686
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) Click to see attachment24,057  
23 Total liabilities (add lines 17 through 22)......... 24,057 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 8,219,270 8,833,968
29 Total net assets or fund balances (see instructions)..... 8,219,270 8,833,968
30 Total liabilities and net assets/fund balances (see instructions). 8,243,327 8,833,968
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
8,219,270
2
Enter amount from Part I, line 27a .....................
2
614,698
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
8,833,968
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
8,833,968
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b Passthrough K1 Capital Gain/(Loss)      
c
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 3,078,779   2,421,994 656,785
b       114,543
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       656,785
b        
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 2 771,328
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 12,588
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 12,588
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 7,900
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 7,100
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 2,412
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet2,412 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)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    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
    Teresa Babb Managing Trustee
    25.0     		58,666 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brian Korek Executive Dir
    15.0     		40,000 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Alek Dylan Peterlin Trustee
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brock Peterlin Trustee
    0.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    beacon pointe advisors llc Investment Mgmt 56,634
    900 east hamilton ave ste 120
    CAMPBELL,CA95008
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    8,299,644
    b
    Average of monthly cash balances.......................
    1b
    563,670
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,580,185
    d
    Total (add lines 1a, b, and c).........................
    1d
    10,443,499
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    10,443,499
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    156,652
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    10,286,847
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    514,342
    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
    514,342
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    12,588
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    12,588
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    501,754
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    501,754
    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
    501,754
    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 7 501,754
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 414,277
    b Total for prior years:2019, 2018, 2017  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 437,091
    a Applied to 2020, but not more than line 2a 414,277
    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..... 22,814
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		478,940
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021.... 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    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
    A SAFE PLACE
    PO BOX 23006
    OAKLAND,CA94623     		N/A PC General & Unrestricted 3,000
    AMERICAN BIRD CONSERVANCY
    4249 LOUDOUN AVE BOX 249
    THE PLAINS,VA20198     		N/A PC General & Unrestricted 2,000
    AMERICAN LUNG ASSOCIATION
    55 W WACKER DR STE 1150
    CHICAGO,IL60601     		N/A PC General & Unrestricted 1,000
    ANIMAL LEGAL DEFENSE FUND
    525 E COTATI AVE
    COTATI,CA94931     		N/A PC General & Unrestricted 5,000
    ASSOCIATION OF SMALL FOUNDATIONS DBA EXPONENT PHIL
    1720 N ST NW
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 1,000
    BAT WORLD SANCTUARY
    299 HIGH POINT RD
    WEATHERFORD,TX76088     		N/A PC General & Unrestricted 4,000
    CENTER FOR BIOLOGICAL DIVERSITY INC
    PO BOX 710
    TUCSON,AZ85702     		N/A PC General & Unrestricted 4,000
    CHABAD OF CALIFORNIA
    741 GAYLEY AVE
    LOS ANGELES,CA90024     		N/A PC General & Unrestricted 1,000
    CHAC
    590 W EL CAMINO REAL
    MOUNTAIN VIEW,CA94040     		N/A PC General & Unrestricted 3,000
    CHARITY GLOBAL INC - CHARITY WATER
    40 WORTH ST STE 330
    NEW YORK,NY10013     		N/A PC General & Unrestricted 2,000
    CHEETAH CONSERVATION FUND
    PO BOX 2496
    ALEXANDRIA,VA22301     		N/A PC General & Unrestricted 4,000
    CHILD ADVOCATES OF SILICON VALLEY INC
    509 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 5,000
    CHILDRENS CANCER NETWORK
    6150 W CHANDLER BLVD STE 1
    CHANDLER,AZ85226     		N/A PC General & Unrestricted 1,000
    CITY COLLEGE FUND
    160 CONVENT AVE NO S166
    NEW YORK,NY10031     		N/A PC General & Unrestricted 1,000
    COMMUNITY SCHOOL OF MUSIC AND ARTS
    230 SAN ANTONIO CIR
    MOUNTAIN VIEW,CA94040     		N/A PC General & Unrestricted 5,000
    COMMUNITY SERVICES AGENCY
    204 STIERLIN RD
    MOUNTAIN VIEW,CA94043     		N/A PC General & Unrestricted 4,000
    CONGREGATION SHIR HADASH
    20 CHERRY BLOSSOM LN
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 1,000
    CONSUMER REPORTS INC
    PO BOX 96552
    WASHINGTON,DC20090     		N/A PC General & Unrestricted 1,000
    COVENANT HOUSE CALIFORNIA
    1325 N WESTERN AVE
    LOS ANGELES,CA90027     		N/A PC General & Unrestricted 1,000
    EARTHJUSTICE
    50 CALIFORNIA ST SUITE 500
    SAN FRANCISCO,CA94111     		N/A PC General & Unrestricted 4,000
    GLAUCOMA RESEARCH FOUNDATION
    251 POST ST STE 600
    SAN FRANCISCO,CA94108     		N/A PC General & Unrestricted 1,000
    GREENPEACE FUND INC
    702 H ST NW STE 300
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 5,000
    H E R WEEKEND INC
    PO BOX 77
    WOODLAND HLS,CA91365     		N/A PC General & Unrestricted 1,000
    HIAS INC
    411 5TH AVE 10TH FL
    NEW YORK,NY10016     		N/A PC General & Unrestricted 1,000
    HONEST REPORTING COM INC
    165 E 56TH ST 2ND FL
    NEW YORK,NY10022     		N/A PC General & Unrestricted 1,000
    HOOPS FOR HOPE INC
    PO BOX 895
    EAST HAMPTON,NY11937     		N/A PC General & Unrestricted 2,000
    HOPE FOR PAWS
    8950 W OLYMPIC BLVD 525
    LOS ANGELES,CA90211     		N/A PC General & Unrestricted 2,000
    HUMANE SOCIETY SILICON VALLEY
    901 AMES AVE
    MILPITAS,CA95035     		N/A PC General & Unrestricted 1,000
    INSTITUTE OF NOETIC SCIENCES
    101 SAN ANTONIO RD
    PETALUMA,CA94952     		N/A PC General & Unrestricted 1,000
    INTERNATIONAL PLANNED PARENTHOOD FEDERATION
    125 MAIDEN LANE 9TH FL
    NEW YORK,NY10038     		N/A PC General & Unrestricted 5,000
    JEWISH FAMILY & CHILDRENS SERVICES
    2150 POST ST
    SAN FRANCISCO,CA94115     		N/A PC General & Unrestricted 1,000
    KARMA CAT RESCUE
    346 PAUL AVE
    MOUNTAIN VIEW,CA94041     		N/A PC General & Unrestricted 1,000
    KIDNEY CANCER ASSOCIATION
    PO BOX 676226
    DALLAS,TX75267     		N/A PC General & Unrestricted 1,000
    LEVY FAMILY CAMPUS
    14855 OAK RD 200
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 1,000
    MARINE MAMMAL CENTER
    2000 BUNKER RD FORT CRONKHITE
    SAUSALITO,CA94965     		N/A PC General & Unrestricted 3,000
    MARS SOCIETY INC
    11111 W 8TH AVE
    LAKEWOOD,CO80215     		N/A PC General & Unrestricted 1,500
    MEDECINS SANS FRONTIERES USA INC - DOCTORS WITHOUT
    PO BOX 5030
    HAGERSTOWN,MD21741     		N/A PC General & Unrestricted 2,000
    MENTOR TUTOR CONNECTION
    PO BOX 1473
    LOS ALTOS,CA94023     		N/A PC General & Unrestricted 2,000
    MONTEREY BAY AQUARIUM FOUNDATION
    886 CANNERY ROW
    MONTEREY,CA93940     		N/A PC General & Unrestricted 2,000
    MOTHERS AGAINST DRUNK DRIVING
    511 E JOHN CARPENTER FREEWAY STE 70
    IRVING,TX75062     		N/A PC Northern California - Boating Under the influence program 22,800
    NATIONAL ASSOCIATION OF STATE BOATING LAW ADMINIST
    1020 MONARCH ST STE 200
    LEXINGTON,KY40513     		N/A PC Operation Dry Water Campaign 5,000
    NATIONAL ASSOCIATION OF STATE BOATING LAW ADMINIST
    1020 MONARCH ST STE 200
    LEXINGTON,KY40513     		N/A PC Korek BUI PSA Project 87,185
    NATURAL RESOURCES DEFENSE COUNCIL INC
    40 WEST 20TH ST 11TH FLOOR
    NEW YORK,NY10011     		N/A PC General & Unrestricted 5,000
    NIKE ANIMAL RESCUE FOUNDATION
    1784 EL CODO WAY
    SAN JOSE,CA95124     		N/A PC General & Unrestricted 2,000
    ONE CHILD
    1900 MOWRY AVE STE 103
    FREMONT,CA94538     		N/A PC General & Unrestricted 1,000
    PALACE OF FINE ARTS LEAGUE INC
    3301 LYON ST
    SAN FRANCISCO,CA94123     		N/A PC General & Unrestricted 1,000
    PAWS FOR PURPLE HEARTS
    10201 OLD REDWOOD HWY
    PENNGROVE,CA94951     		N/A PC General & Unrestricted 2,000
    PENINSULA HUMANE SOCIETY & SPCA
    1450 ROLLINS RD
    BURLINGAME,CA94010     		N/A PC General & Unrestricted 4,000
    PEOPLE FOR THE AMERICAN WAY FOUNDATION
    1101 15TH ST NW STE 600
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 1,000
    PERFORMING ANIMAL WELFARE SOCIETY
    PO BOX 849
    GALT,CA95632     		N/A PC General & Unrestricted 4,000
    PETS IN NEED
    871 5TH AVE
    REDWOOD CITY,CA94063     		N/A PC General & Unrestricted 5,000
    PHYSICIANS FOR SOCIAL RESPONSIBILITY INC
    1111 14TH ST NW STE 700
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 1,000
    POPULATION CONNECTION
    2120 L ST NW STE 500
    WASHINGTON,DC20037     		N/A PC General & Unrestricted 1,000
    PRIDE INDUSTRIES
    10030 FOOTHILLS BLVD
    ROSEVILLE,CA95747     		N/A PC General & Unrestricted 1,000
    PROSTATE CANCER RESEARCH INSTITUTE
    300 CORPORATE POINTE STE 383
    CULVER CITY,CA90230     		N/A PC General & Unrestricted 1,000
    SAN FRANCISCO BAY BIRD OBSERVATORY
    524 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 1,000
    SECOND HARVEST OF SILICON VALLEY
    4001 N 1ST ST
    SAN JOSE,CA95134     		N/A PC General & Unrestricted 7,000
    SIERRA CLUB FOUNDATION
    2101 WEBSTER ST STE 1250
    OAKLAND,CA94612     		N/A PC General & Unrestricted 7,000
    SILICON VALLEY JEWISH FILM FESTIVAL
    PO BOX 2190
    CUPERTINO,CA95015     		N/A PC General & Unrestricted 1,000
    SOLAR COOKERS INTERNATIONAL
    2400 22ND ST STE 210
    SACRAMENTO,CA95818     		N/A PC General & Unrestricted 2,000
    TAWONGA JEWISH COMMUNITY CORPORATION
    131 STEUART ST STE 460
    SAN FRANCISCO,CA94105     		N/A PC General & Unrestricted 2,000
    THE CENTER FOR INVESTIGATIVE REPORTING INC
    1400 65TH ST STE 200
    EMERYVILLE,CA94608     		N/A PC General & Unrestricted 1,000
    THE DIAN FOSSEY GORILLA FUND INTERNATIONAL
    800 CHEROKEE AVE SE
    ATLANTA,GA30315     		N/A PC General & Unrestricted 1,000
    THE ELEPHANT SANCTUARY IN TENNESSEE
    PO BOX 393
    HOHENWALD,TN38462     		N/A PC General & Unrestricted 8,000
    THE MANKIND PROJECT
    PO BOX 383
    KAYSVILLE,UT84037     		N/A PC MKP USA Marketing - Program OnBoarding and development with focus on cultural training and racial justice 15,000
    THE TECH INTERACTIVE
    201 S MARKET ST
    SAN JOSE,CA95113     		N/A PC General & Unrestricted 3,000
    THEATREWORKS SILICON VALLEY
    350 TWIN DOLPHIN DR STE 127
    REDWOOD CITY,CA94065     		N/A PC General & Unrestricted 2,000
    UTILITY REFORM NETWORK
    785 MARKET ST SUITE 1400
    SAN FRANCISCO,CA94103     		N/A PC General & Unrestricted 1,000
    WILDERNESS SOCIETY
    1801 PENNSYLVANIA AVE NW STE 200
    WASHINGTON,DC20006     		N/A PC General & Unrestricted 2,000
    WILDLIFE CONSERVATION NETWORK INC
    209 MISSISSIPPI ST
    SAN FRANCISCO,CA94107     		N/A PC General & Unrestricted 4,000
    YOUNG MENS CHRISTIAN ASSOCIATION SILICON VALLEY
    80 SARATOGA AVE
    SANTA CLARA,CA95051     		N/A PC General & Unrestricted 1,000
    YOUTHLINC
    1166 E BRICKYARD RD
    SALT LAKE CTY,UT84106     		N/A PC General & Unrestricted 1,000
    Total .................................bullet 3a 290,485
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 60  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		525990 159,368 18 770,886  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -6,577 14 36  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 152,791 973,000  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,125,791
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

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

    TY 2021 DepreciationSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2021 GeneralExplanationAttachment
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Identifier Return Reference Explanation
    part I line 6A (990-PF) PART I LINE 6A (990-PF) RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $770,886 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $159,368 TOTAL PART I, LINE 6A: $930,254 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $3,078,779 BOOK BASIS: $2,422,436 NET GAIN/(LOSS): $656,343 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $114,543

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Name of Bond End of Year Book Value End of Year Fair Market Value
    HIGHWOODS RLTY LP NOTE BOND - 9,933 10,178
    LEHMAN BRTHRS HLDGS - 0.000% - 0 0
    MARSHFIELD CLINIC HLTH SYS INC 15,085 15,314
    OCCIDENTAL COLLEGE - 3.015% - 30,010 30,234
    PREMIER HEALTH PARTNERS SER 20 31,250 30,635
    TEVA PHARMACEUTICAL NOTE - 0.0 14,938 15,019
    TEMECULA CALIF REDEV AGY REF B 9,783 10,516

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3M CO 2,592 2,309
    ACCENTURE PLC 2,298 3,731
    ADOBE SYSTEMS, INC 3,704 3,969
    AGNICO EAGLE MINES LTD 31,583 34,541
    ALLEGHANY CP 27,910 33,380
    ALPHABET INC CL A 6,926 11,588
    AMAZON COM 6,687 6,669
    AMERICAN TOWER REIT INC 5,852 6,728
    AMGEN INC 23,007 20,697
    ANALOG DEVICES INC 3,483 4,043
    APPLE INC 3,931 5,505
    AUTODESK, INC 3,382 3,374
    AUTOMATIC DATA PROCESSING INC 18,835 23,918
    BARRICK GOLD CORPORATION 36,393 39,995
    BECTON DICKINSON & CO 2,407 2,515
    BERKSHIRE HATHAWAY INC. CLASS 138,574 205,712
    BIO RAD LABS INC CL A 3,269 3,778
    BIOGEN INC 3,103 2,639
    BLOCK INC 3,367 2,584
    C H ROBINSON WORLDWIDE INC 5,126 5,597
    CADENCE DESIGN SYSTEMS INC 3,690 5,591
    CERNER CORPORATION 28,456 42,906
    CISCO SYSTEMS INC 33,556 51,076
    CITIGROUP INC 87,255 96,986
    COGNIZANT TECHNOLOGY SOLUTIONS 2,648 3,283
    COLGATE-PALMOLIVE COMPANY 25,472 26,541
    COMCAST CORP 18,512 24,511
    CONAGRA FOODS INC 24,929 22,641
    CORTEVA INC 40,548 41,654
    CVS CAREMARK CORP 33,944 40,026
    DANAHER CORP 6,794 8,225
    DOLLAR GENERAL CORP 28,833 32,780
    DOMINION ENERGY INC 39,750 45,093
    DOUBLELINE CORE FIXED INCOME I 178,921 179,820
    DOUBLELINE TOTAL RETURN BOND 614,101 596,792
    DU PONT DE NEMOURS 63,991 60,908
    DYNATRACE 3,383 3,621
    ECOLAB INC 3,305 3,519
    EDWARDS LIFESCIENCES 2,444 3,498
    ENPHASE ENERGY ORD SHS 2,098 2,195
    EQUITY COMMONWEALTH 52,337 46,879
    ETSY INC 2,194 2,846
    FAIRFAX FINL HLDGS LTD 92,737 122,048
    FIRST EAGLE GLOBAL FUND CLASS 698,776 805,706
    FORTIVE CORPORATION 4,184 4,501
    GEN DYNAMICS CP 3,422 3,752
    GENERAL MOTORS 62,411 113,273
    GLOBAL PAYMENTS INC 38,310 27,171
    GQG PARTNERS EMERGING MARKETS 456,433 574,346
    GRAHAM HOLDINGS COMPANY 10,076 15,746
    GRAINGER W W INC 33,520 37,832
    GRIFFIN INSTITUTIONAL ACCESS R 469,350 543,155
    GROUPE DANONE ADS 66,667 65,747
    GUIDEWIRE SOFTWARE INC 17,884 22,365
    HOME DEPOT INC 4,712 7,470
    IDEXX CORP 4,934 5,926
    INGREDION INC 34,754 43,585
    INT'L FLAVORS & FRAGRANCES INC 2,573 2,712
    INTUIT 4,836 6,432
    JOHNSON & JOHNSON 78,030 112,735
    JONES LANG LASALLE 9,724 19,662
    JP MORGAN CHASE 61,491 93,743
    KIRKLAND LAKE GOLD LTD 30,120 31,295
    KROGER CO 15,034 18,376
    LIBERTY GLOBAL PLC - SERIES C 97,049 101,602
    LIBERTY LATIN AMERICA (FORMERL 5,946 2,599
    LOEWS CORP 54,095 61,283
    LORD ABBETT HIGH YIELD FD CL I 409,228 496,153
    LOWES COMPANIES INC 30,919 41,098
    LUMEN TECHNOLOGIES INC 70,497 64,758
    MAGNA INTERNATIONAL INC 39,427 83,530
    MARSH AND MCLENNAN COMPANIES I 23,660 29,897
    MARVELL TECHNOLOGY, INC 2,190 4,462
    MEDTRONIC PLC 56,366 52,760
    MICROCHIP TECHNOLOGY INC 24,038 28,817
    MICROSOFT CORP 38,196 82,398
    MONDELEZ INTERNATIONAL INC 15,350 17,108
    MONOLITHIC POWER SYSTEMS, INC 2,843 4,440
    MSCI INC 3,193 4,289
    NIKE INC-CL B 6,292 7,667
    NOVO NORDISK A S 3,297 4,368
    NVIDIA CORP 3,046 5,882
    ORACLE CORP 6,623 7,326
    PEPSICO INC 2,060 2,432
    PERRIGO CO PLC 19,334 16,960
    PFIZER INC 34,561 62,180
    PIONEER ILS INTERVAL FUND 375,394 362,788
    POWER CORPORATION OF CANADA 61,840 106,584
    PROCTER GAMBLE CO 2,325 2,781
    QUEST DIAGNOSTICS 16,290 21,453
    RAYTHEON TECHNOLOGIES CORP 4,576 4,561
    RECKITT BENCKISER GROUP 2,799 2,800
    RESOLUTE FOREST PRODUCTS INC 4,752 9,422
    ROCHE HOLDING LTD ADR 2,312 2,791
    ROSS STORES, INC 38,383 36,684
    SERVICE NOW 3,246 4,544
    SPDR BARCLAYS CAPITAL 1-3 MONT 36,590 36,572
    SPROTT PHYSICAL GOLD TRUST 283,677 356,501
    SPX FLOW INC 21,185 52,926
    STANLEY BLACK & DECKER INC 20,835 18,862
    STARBUCKS CORP COM 20,474 31,816
    STATE STREET CORPORATION 29,184 31,527
    STONE RIDGE REINSURANCE RISK P 12,384 10,058
    SYSCO CORP 34,620 33,462
    THE COCA-COLA CO 22,428 24,454
    THE JM SMUCKER COMPANY 27,623 28,251
    THERMO FISHER SCIENTIFIC INC 21,368 30,693
    TJX COMPANIES INC 9,423 16,930
    TRAVELERS COMPANIES INC 27,500 38,169
    UNILEVER PLC AMER 73,889 70,250
    UNITED PARCEL SERVICE 26,605 28,936
    UNITEDHEALTH GROUP INC 40,497 54,231
    US BANCORP 37,248 33,983
    VERISK ANALYTICS, INC 4,316 5,490
    VERIZON COMMUNICATIONS 50,611 50,713
    VIATRIS ORD SHS 24,310 24,273
    VISA INC 7,357 8,018
    VODAFONE GROUP PLC 161,394 98,105
    WAL-MART STORES INC 2,121 2,170
    WALT DISNEY HOLDINGS CO 5,303 4,802
    WEST PHARMA SVCS INC 4,022 5,628

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    US Government Securities - End of Year Book Value:

     
    US Government Securities - End of Year Fair Market Value:

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


    718,549
    State & Local Government Securities - End of Year Fair Market Value:


    749,025


    TY 2021 InvestmentsOtherSchedule2
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BGV IV, LP   77,329 102,428
    BGV OPPORTUNITY FUND, L.P   180,209 351,843
    PARTNERS GROUP PRIVATE EQUITY   440,025 600,817
    REDWOOD-KAIROS REAL ESTATE VAL   171,096 525,097

    TY 2021 OtherExpensesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 46,330     46,330
    Bank Charges 302 302    
    Foundation Dues & Memberships 1,560     1,560
    K-1 Exp BGV IV, LP 5,288 5,288    
    K-1 Exp BGV OPPORTUNITY FUND, 5,354 5,354    
    K-1 Exp REDWOOD-KAIROS REAL ES 357 100    
    State or Local Filing Fees 50     50


    TY 2021 OtherIncomeSchedule2
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss BGV IV, LP 33 33  
    K-1 Inc/Loss BGV OPPORTUNITY FUND, L.P 2,422 2,422  
    K-1 Inc/Loss REDWOOD-KAIROS REAL ESTATE VALUE FUND -8,996 -2,419  


    TY 2021 OtherLiabilitiesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Description Beginning of Year - Book Value End of Year - Book Value
    OUTSTANDING OPTIONS 24,057  


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT SERVICES 56,634 56,634    


    TY 2021 TaxesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN:
    77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2021 5,900      
    Foreign Tax Paid 164 164