Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
HORST RECHELBACHER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1010 DALE STREET NORTH
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST PAUL, MN55117
A Employer identification number

41-1956679
B Telephone number (see instructions)

(651) 343-2254
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$25,731,149J 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... 494,496 494,496  
5a Gross rents............ 15,000 15,000 15,000
b Net rental income or (loss) 6,902
6a Net gain or (loss) from sale of assets not on line 10 -46,607
b Gross sales price for all assets on line 6a 5,773,002
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
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).......      
12 Total. Add lines 1 through 11........ 462,889 509,496 15,000
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 478,710 8,159 0 470,551
15 Pension plans, employee benefits....... 34,997 1,080 0 33,917
16a Legal fees (attach schedule)......... Click to see attachment 13,973 0 0 13,973
b Accounting fees (attach schedule)....... Click to see attachment 25,018 12,509 0 12,509
c Other professional fees (attach schedule).... Click to see attachment 126,183 101,895 0 24,288
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 19,503 0 0 13,186
19 Depreciation (attach schedule) and depletion... 72,937 0 0
20 Occupancy.............. 42,265 0 0 42,265
21 Travel, conferences, and meetings....... 7,755 0 0 7,755
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 326,878 8,098 8,098 318,780
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,148,219 131,741 8,098 937,224
25 Contributions, gifts, grants paid....... 296,500 296,500
26 Total expenses and disbursements. Add lines 24 and 25 1,444,719 131,741 8,098 1,233,724
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -981,830
b Net investment income (if negative, enter -0-) 377,755
c Adjusted net income (if negative, enter -0-)... 6,902
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............. 131,751 270,325 270,325
2 Savings and temporary cash investments......... 6,506,783 5,602,252 5,602,252
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) 3,968,124 Click to see attachment2,508,592 2,642,343
b Investments—corporate stock (attach schedule)....... 1,364,218 Click to see attachment5,419,585 5,806,680
c Investments—corporate bonds (attach schedule)....... 8,041,735 Click to see attachment5,261,179 5,338,162
11 Investments—land, buildings, and equipment: basis bullet2,510,365
Less: accumulated depreciation (attach schedule) bullet170,715 2,384,184 2,339,650 2,339,650
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,000,000 Click to see attachment1,022,913 1,267,703
14 Land, buildings, and equipment: basis bullet2,576,883
Less: accumulated depreciation (attach schedule) bullet112,849 2,450,900 2,464,034 2,464,034
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,847,695 24,888,530 25,731,149
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 25,847,695 24,888,530
29 Total net assets or fund balances (see instructions)..... 25,847,695 24,888,530
30 Total liabilities and net assets/fund balances (see instructions). 25,847,695 24,888,530
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
25,847,695
2
Enter amount from Part I, line 27a .....................
2
-981,830
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
22,665
4
Add lines 1, 2, and 3 ..........................
4
24,888,530
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
24,888,530
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 P    
b
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 5,773,002   5,819,609 -46,607
b
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       -46,607
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 -46,607
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 0
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 5,251
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,251
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 10,500
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 10,500
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 124
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 5,125
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet5,125 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletTHE FOUNDATION Telephone no.bullet (651) 343-2254

    Located atbullet1010 DALE STREET NORTHST PAULMN ZIP+4bullet55117
    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
    LINDA KIRAN STORDALEN DIRECTOR, PRESIDENT
    5.00     		0 0 0
    1010 DALE STREET NORTH
    ST PAUL,MN55117
    NICOLE THOMAS DIRECTOR, VICE PRESIDENT/SECRETARY
    5.00     		0 0 0
    1010 DALE STREET NORTH
    ST PAUL,MN55117
    ANTHONY GLEEKEL DIRECTOR, TREASURER
    5.00     		0 0 0
    1010 DALE STREET NORTH
    ST PAUL,MN55117
    MINDY RECHELBACHER DIRECTOR
    5.00     		0 0 0
    1010 DALE STREET NORTH
    ST PAUL,MN55117
    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
    JILL GREENHALGH MANAGING DIRECTOR
    40.00     		90,658 0 12,000
    945 PIONEER DRIVE
    OSCEOLA,WI54020
    BRIAN C ELKIN MAINTENANCE MANAGER
    40.00     		67,732 0 2,500
    945 PIONEER DRIVE
    OSCEOLA,WI54020
    JODI GENTLE PROGRAM COORDINATOR
    40.00     		61,862 0 6,000
    945 PIONEER DRIVE
    OSCEOLA,WI54020
    CHERYL ELLIOTT PROGRAM COORDINATOR
    40.00     		56,237 0 6,000
    945 PIONEER DRIVE
    OSCEOLA,WI54020
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    JOHN CHRISTIANSEN CONSTRUCTION CONTRACTOR 50,793
    1265 S SHORE CT
    AMERY,WI54001
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 THE HORST RECHELBACHER FOUNDATION IS A FAMILY FOUNDATION THAT OPERATES MULTIPLE PROGRAMS AT THE ACREAGE ON 350 ACRES OF PRISTINE HARDWOOD FORESTS, OAK SAVANNAS, MEADOWS, PRAIRIES, WETLANDS AND SHORES OF THE NATIONALLY DESIGNATED WILD & SCENIC ST CROIX RIVER.THE ACREAGE WORKS WITH PARTNER NON-PROFITS TO OFFER A MULTITUDE OF PROGRAMS INCLUDING EDUCATIONAL CLASSES, ENVIRONMENTAL PROGRAMS, CONVENINGS, AND ART EVENTS THAT UTILIZE THE UNIQUE NATURE-BASED SETTING, SCULPTURE GARDEN, ANIMALS AND BUILDINGS THAT ENCOMPASS THE PROPERTY. THE FOUNDATION IS ACTIVELY CONSERVING, RESTORING, MANAGING, AND PRESERVING THE NATURAL ECOSYSTEMS, HABITATS, HISTORICAL SIGNIFICANT AND NATURAL RESOURCES ON THE PROPERTY. 945,322
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    20,938,724
    b
    Average of monthly cash balances.......................
    1b
    109,652
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    21,048,376
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    21,048,376
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    315,726
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    20,732,650
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,036,633
    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
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    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
     
    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 0
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017...... 336,843
    c From 2018......  
    d From 2019...... 244,950
    e From 2020...... 280,891
    f Total of lines 3a through e ........ 862,684
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$  
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 0
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 862,684
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		862,684
    10 Analysis of line 9:
    a Excess from 2017.... 336,843
    b Excess from 2018....  
    c Excess from 2019.... 244,950
    d Excess from 2020.... 280,891
    e Excess from 2021....  
    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
    6,902 0 0 0 6,902
    b 85% (0.85) of line 2a ......... 5,867 0 0 0 5,867
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		1,273,636 1,360,495 1,513,454 1,057,676 5,205,261
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		296,500 356,000 382,500 474,334 1,509,334
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		977,136 1,004,495 1,130,954 583,342 3,695,927
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......         0
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		691,089 724,788 855,601 762,293 3,033,771
    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) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    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 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
    BEAUTY CHANGES LIVES
    PO BOX 7174
    RANCHO SANTA FE,CA920677174     		NONE PC HORST RECHELBACHER SCHOLARSHIP PROGRAM 50,000
    MINNESOTA CHILDREN'S HOSPITAL - PALLIATIVE CARE
    5901 LINCOLN DRIVE MAIL STOP
    CBC-3-FOUN
    EDINA,MN55436     		NONE PC PEDIATRIC PAIN, PALLIATIVE AND INTEGRATIVE MEDICINE CLINIC 225,000
    CITY OF OSCEOLA
    310 CHEIFTAN ST
    OSCEOLA,WI54020     		NONE GOV'T GRANT TO CITY, FIRE DEPARTMENT, AND POLICE 15,000
    OSCEOLA CHAMBER OF COMMERCE
    PO BOX 251
    OSCEOLA,WI54020     		NONE PC FRIEND OF OSCEOLA TRAILS COALITION CHARITABLE GRANT 1,000
    OPEN CUPBOARD
    406 2ND AVE
    OSCEOLA,WI54020     		NONE PC GRANT 1,500
    ST CROIX VALLEY FOOD BANK
    1231 INDUSTRIAL ST
    HOUSTON,WI54016     		NONE PC GRANT 4,000
    Total .................................bullet 3a 296,500
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property...... 531190 6,902      
    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 -46,607  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aLEASING INCOME     		        0
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 6,902 447,889 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    454,791
    (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.)
    1A LEASING SPACE TO AN ORGANIZATION WHICH HORST RECHELBACHER FOUNDATION OFFERS JOINTS PROGRAMS WITH THROUGHOUT THE YEAR.
    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:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 25,018 12,509 0 12,509

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ACCRUED INTEREST 26,182 26,182
    ACCRUED INTEREST 4,639 4,639
    BANK OF AMERICAN CORP FXD TO 032025 VAR THRAFTR 6.1000% 397,229 433,500
    DUKE ENERGY CORP FXD TO 092027 VAR THRAFTR 5.75% 54,246 51,875
    GENERAL MOTORS FIN CO FXD TO 092027 VAR THRAFTR 5.7500% 209,006 214,000
    HUNTINGTON BANCSHARES INC/OH F XD TO 102027 VAR THRAFTR 4.45% 54,361 52,813
    JPMORGAN CHASE & CO FXD VAR THRAFTR 4.600% 206,580 205,250
    TRUIST FINANCIAL CORP FXD TO 122025 VAR THRAFTR 4.9500% 55,444 53,644
    WELLS FARGO & CO FXD TO 062025 FLTS THRAFTR 5.8750% 436,386 437,000
    JPMORGAN CHASE & CO 101,064 102,719
    INDIANA MICHIGAN POWER CO 101,141 102,063
    UNITEDHEALTH GROUP INC 102,010 104,011
    MORGAN STANLEY 152,241 158,988
    CAPITAL ONE FINANCIAL CORP 102,085 107,289
    MORGAN STANLEY 105,478 110,467
    FORD MOTOR CO 101,256 109,075
    OCCIDENTAL PETROLEUM CORP 199,955 203,000
    THE SOUTHERN CO 100,000 104,000
    SEMPRA ENERGY 5.750% 125,000 136,700
    BERKSHIRE HATHAWAY INC 253,083 267,705
    APPLE INC 251,370 268,013
    NATIONAL RURAL UTILITIES COOP CALLABLE 104,988 107,531
    BANK OF AMERICA CORP 216,506 218,994
    GENERAL ELECTRIC COMPANY 109,256 99,500
    J P MORGAN CHASE & CO 202,506 199,998
    JPMORGAN CHASE & CO 144,756 153,671
    MORGAN STANLEY 201,506 200,102
    WELLS FARGO & CO 153,756 158,271
    FORTUNE BRANDS HOME & SECURITY INC 49,220 47,609
    PNC BANK NA 48,683 46,535
    INTEL CORP 48,418 46,595
    EQUINIX INC 54,696 52,603
    COMMONWEALTH EDISON 47,755 45,041
    PEPSICO INC 49,113 47,549
    COSTCO WHOLESALE CORP 45,829 43,640
    APPLE INC 40,850 38,969
    CHEVRON CORP 47,888 45,562
    DUKE ENERGY OHIO INC. 46,988 44,320
    LOCKHEED MARTIN CORP 46,861 44,242
    MERCK & CO INC 50,307 47,928
    AUTOMATIC DATA PROCESSING INC 49,488 47,109
    BERKSHIRE HATHAWAY FINANCE CORP 45,326 43,144
    CYRUSONE LP 18,999 19,791
    ATMOS ENERGY CORP 50,136 46,968
    CROWN CASTLE INERNATIONAL CORP 50,574 48,774
    STEEL DYNAMICS INC 49,656 47,497
    CITIGROUP INC FXD TO 062030 VAR THRAFTR 2.5720% 47,439 45,437
    BANK OF AMERICA CORP FXD TO 100230 VAR THRAFTR 1.922% 49,960 48,000
    JPMORGAN CHASE & CO FXD TO 022031 VAR THRAFTR 1.9530% 25,000 24,107
    WRKCO INC 25,963 25,742

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Name of Stock End of Year Book Value End of Year Fair Market Value
    A O SMITH CORPORATION 4,108 4,979
    ABBOTT LABORATORIES 465 563
    ABBVIE INC 1,744 2,031
    ADOBE INC 4,445 4,536
    ADVANCE AUTO PARTS INC 835 960
    AIR PRODUCTS & CHEMICALS INC 2,446 2,738
    AKAMAI TECHNOLOGIES INC 5,954 6,320
    ALPHABET INC 7,570 8,691
    AMAZON.COM INC 3,280 3,334
    AMERICAN EXPRESS COMPANY 2,560 2,781
    AMERICAN FINANCIAL GROUP INC 4,066 4,394
    AMERISOURCEBERGEN CORP 1,079 1,329
    AMGEN INC 16,476 16,198
    ANALOG DEVICES INC 6,824 7,382
    APPLE INC 16,923 21,131
    APPLIED INDUSTRIAL 4,690 5,032
    APTARGROUP INC 4,212 3,919
    ASPEN TECHNOLOGY INC 6,472 7,153
    ATMOS ENERGY CORP 3,754 4,086
    AUTODESK INC 4,635 4,499
    AVERY DENNISON CORP 4,681 4,765
    BAKER HUGHES COMPANY 3,953 4,042
    BANK OF AMERICA CORP 3,767 4,271
    BECTON DICKINSON & CO 1,712 1,760
    BEST BUY COMPANY INC 1,235 1,219
    BIO-RAD LABORATORIES INC CL A 3,402 3,778
    BLACKROCK INC 2,994 3,662
    BLOCK INC 4,392 3,069
    BRISTOL MYERS SQUIBB CO 3,301 3,429
    BROADRIDGE FINANCIAL SOLUTIONS 3,578 4,022
    BROWN & BROWN INC 4,769 5,974
    C H ROBINSON WORLDWIDE INC 3,235 3,659
    CADENCE DESIGN SYSTEMS INC 4,536 5,591
    CAPITAL ONE FINANCIAL CORP 1,478 1,596
    CARTER'S INC 3,578 3,644
    CAVCO INDS INC DEL 3,393 4,447
    CBOE GLOBAL MARKETS INC 3,418 3,782
    CHARLES SCHWAB CORP NEW 1,759 2,103
    CHEMED CORPORATION 7,150 7,936
    CHEVRON CORPORATION 2,421 2,699
    CHOICE HOTELS INTERNATIONAL 4,832 6,084
    CHURCH & DWIGHT CO INC 3,940 4,613
    CIGNA CORPORATION 1,054 1,148
    CITIGROUP INC 2,131 1,872
    CITRIX SYSTEMS INC 4,291 3,500
    CME GROUP INC 3,330 3,655
    CMS ENERGY CORP 1,013 1,171
    COCA COLA COMPANY 16,683 18,474
    COHEN & STEERS INC 2,926 3,423
    COLUMBIA SPORTSWEAR CO 3,740 3,605
    COMCAST CORP 4,049 3,775
    CONOCOPHILLIPS 3,561 4,331
    COOPER COMPANIES INC NEW (THE) 6,053 6,284
    CORNING INC 754 707
    CVS HEALTH CORPORATION 2,080 2,682
    DANAHER CORPORATION 6,288 7,567
    DEERE & CO 1,689 1,714
    DOLBY LABORATORIES INC 1,942 1,904
    DONALDSON CO INC 5,690 5,511
    DORMAN PRODUCTS INC 3,634 3,955
    DOVER CORPORATION 2,518 3,269
    DYNATRACE INC 4,107 4,285
    EAST WEST BANCORP INC 4,897 5,193
    ECOLAB INC 3,536 3,753
    EDWARDS LIFESCIENCES CORP 3,388 4,405
    ELI LILLY & CO 1,468 1,934
    ENPHASE ENERGY INC 2,248 2,195
    EOG RES INC 2,055 2,398
    ETSY INC 3,059 3,284
    EXPEDITORS INTERNATIONAL OF 5,860 6,580
    EXXON MOBIL CORP 15,861 17,378
    FACTSET RESEARCH SYSTEMS INC 4,876 6,318
    FIDELITY NATIONAL INFORMATION 1,971 1,637
    FLOWERS FOODS INC 3,306 3,681
    FORTIVE CORPORATION 4,373 4,577
    F5 INC 4,656 5,628
    GALLAGHER ARTHUR J & CO 1,203 1,527
    GAP INC 919 582
    GENERAL DYNAMICS CORP 17,759 20,639
    HAEMONETICS CORP-MASS 2,205 1,750
    HARTFORD FINANCIAL SERVICES 1,137 1,381
    HASBRO INC 925 1,018
    HELMERICH & PAYNE INC 2,531 2,109
    HENRY JACK & ASSOCIATES INC 3,855 4,008
    HENRY SCHEIN INC 3,792 3,954
    HOME DEPOT INC 21,902 28,221
    HUBBELL INCORPORATED 5,154 5,623
    IDACORP INC 2,474 2,719
    IDEXX LABORATORIES CORP 5,157 5,926
    INTEL CORP 228 206
    INTERNATIONAL BUSINESS 1,059 1,203
    INTERPUBLIC GROUP OF COS INC 4,853 5,280
    INTUIT INC 6,060 7,719
    IPG PHOTONICS CORP 3,042 2,754
    JOHNSON & JOHNSON 18,911 19,673
    JONES LANG LASALLE INC 5,735 7,272
    JPMORGAN CHASE & CO 16,129 17,102
    LAMB WESTON HOLDINGS INC 2,320 2,028
    LINCOLN ELEC HOLDINGS INC 4,637 4,881
    M & T BANK CORP 5,414 5,375
    MANHATTAN ASSOCIATES INC 4,467 4,665
    MARSH & MCLENNAN COMPANIES INC 508 695
    MARVELL TECHNOLOGY INC 3,548 5,337
    MASCO CORP 3,931 4,564
    MCDONALDS CORP 18,204 20,641
    MEDPACE HOLDINGS INC 7,828 9,359
    MERCADOLIBRE INC 4,194 4,045
    MERCK & CO INC 559 613
    METLIFE INC 17,622 19,372
    MICROSOFT CORP 24,679 30,605
    MIDDLEBY CORP 3,018 3,345
    MONDELEZ INTERNATIONAL INC 1,812 2,122
    MONOLITHIC POWER SYS INC 4,345 4,933
    MORGAN STANLEY 2,977 3,337
    MSCI INC 3,570 4,289
    NETAPP INC 4,006 4,691
    NEXTERA ENERGY INC 19,850 22,780
    NIKE INC 3,935 4,333
    NORDSON CORP 4,074 4,595
    NORFOLK SOUTHERN CORP 2,582 2,977
    NORTHERN TRUST CORP 728 837
    NORTHROP GRUMMAN CORP 1,971 2,322
    NVIDIA CORP 4,244 6,470
    OMNICOM GROUP INC 6,163 5,935
    ONE GAS INC 3,451 3,647
    PACKAGING CORP AMER 3,155 2,995
    PARKER HANNIFIN CORP 2,397 2,545
    PEPSICO INC 1,244 1,563
    PERKINELMER INC 6,810 8,646
    PFIZER INC 865 1,299
    PHILIP MORRIS INTERNATIONAL 2,912 3,135
    PNC FINANCIAL SVCS GROUP INC 3,444 3,810
    PPG INDUSTRIES INC 2,324 2,759
    PRICE T ROWE GROUP INC 1,650 1,770
    PROCTER & GAMBLE CO 1,886 2,290
    PROGRESS SOFTWARE CORPORATION 3,812 3,958
    PROGRESSIVE CORP-OHIO 998 1,129
    PUBLIC SERVICE ENTERPRISE 827 934
    RAYTHEON TECHNOLOGIES 3,171 3,442
    REPUBLIC SERVICES INC 824 1,116
    ROBERT HALF INTERNATIONAL INC 3,277 3,680
    RPM INTERNATIONAL INC 6,307 7,070
    SEI INVESTMENTS CO 6,548 6,521
    SERVICENOW INC 4,600 5,193
    SIGNATURE BANK 5,739 7,116
    SMUCKER J M COMPANY 3,129 3,260
    STARBUCKS CORP 18,795 20,353
    SYSCO CORP 2,674 2,671
    TEXAS INSTRUMENTS INCORPORATED 18,656 19,601
    TEXAS ROADHOUSE INC 2,855 2,678
    THERMO FISHER SCIENTIFIC INC 5,291 6,672
    TJX COMPANIES INC NEW 1,970 2,278
    TOPBUILD CORP 5,948 7,450
    TORO CO 3,871 3,597
    TRACTOR SUPPLY CO 3,960 4,772
    TRUIST FINANCIAL CORPORATION 18,061 19,263
    UMB FINANCIAL CORP 4,239 4,669
    UNIFIRST CORP-MASS 2,884 2,735
    UNITED PARCEL SVC INC 2,247 2,572
    UNITEDHEALTH GROUP INC 26,525 33,643
    US BANCORP DEL 1,481 1,573
    VALERO ENERGY CORP NEW 581 601
    VERISK ANALYTICS INC 5,473 6,404
    VERIZON COMMUNICATIONS 1,516 1,455
    VF CORPORATION 928 879
    VISA INC 21,747 21,888
    WALMART INC 1,998 2,170
    WATERS CORP 6,943 7,825
    WEST PHARMACEUTICAL SVCSINC 4,646 6,097
    WILLIAMS SONOMA INC 5,306 5,412
    XCEL ENERGY INC 17,568 17,941
    3M COMPANY 15,310 14,743
    ABB LTD 6,390 7,214
    ACCENTURE PLC IRELAND 1,046 1,244
    ADIDAS AG 1,944 1,728
    AIA GROUP LTD 8,641 7,380
    AIR LIQUIDE-ADR 2,752 2,929
    AIRBUS SE 5,418 5,399
    AMDOCS LIMITED 2,691 2,619
    AMERICA MOVIL S A B DE C V 1,939 2,174
    ANHEUSER-BUSCH INBEV SA 4,764 4,299
    AON PLC 2,410 2,705
    ASAHI KASEI CORP 2,973 2,741
    ASML HOLDING N V 11,259 12,738
    ASSA ABLOY AB 1,657 1,678
    ASSOCIATED BRITISH FOODS 2,082 1,904
    ASTRAZENECA PLC 8,238 8,621
    ATLASSIAN CORPORATION PLC 1,877 2,288
    B&M EUROPEAN VALUE RETAIL 3,207 3,386
    BANCO BILBAO VIZCAYA 3,183 3,129
    BEIGENE LTD 3,789 3,251
    BNP PARIBAS 2,307 2,384
    BRITISH AMERICAN TOBACCO 5,695 5,649
    CARLSBERG AS 6,505 6,528
    CHUBB LTD 1,729 1,933
    COMPAGNIE FINANCIERE 3,513 4,494
    DAIICHI SANKYO CO LTD 1,531 1,575
    DAIKIN INDS LTD 1,846 1,903
    DBS GROUP HOLDINGS LTD 3,882 4,167
    DEUTSCHE BOERSE AG 1,380 1,388
    DIAGEO PLC-SPONSORED ADR 2,678 3,082
    DNB BK ASA 3,382 3,482
    DSV A S 2,839 2,919
    EATON CORPORATION PLC 2,306 2,765
    ENEL SOCIETA PER AZIONI 6,458 5,665
    ENGIE 4,055 4,336
    EPIROC AKTIEBOLAG 3,063 3,392
    ESSILORLUXOTTICA 5,978 6,920
    FLUTTER ENTMT PLC 1,164 948
    GENMAB A S 4,891 4,905
    GIVAUDAN SA 5,093 5,890
    HDFC BK LTD 3,307 2,993
    HERMES INTL S A 4,054 4,891
    HONG KONG EXCHANGES & 3,480 3,388
    HOYA CORP 3,415 3,715
    HUTCHMED CHINA LIMITED 1,688 1,754
    IBERDROLA S A 3,820 3,694
    INDUSTRIA DE DISENO TEXTIL 4,512 4,250
    ING GROEP NV-SPONSORED ADR 1,511 1,587
    JARDINE MATHESON HOLDINGS 1,653 1,485
    KERING 7,060 7,155
    KEYENCE CORP 9,080 10,792
    KONINKLIJKE PHILIPS N V 2,337 1,769
    L OREAL CO-ADR 6,970 7,207
    LONDON STK EXCHANGE GROUP 6,865 6,336
    LVMH MOET HENNESSY LOUIS 3,340 3,638
    MEDTRONIC PLC 16,609 14,276
    MURATA MANUFACTURING CO LTD 1,960 1,928
    NESTLE SA-SPONSORED ADR 6,692 7,553
    NETEASE INC 1,455 1,425
    NICE LTD 1,727 1,822
    NIDEC CORPORATION 2,981 3,023
    NITORI HOLDINGS CO LTD 3,180 2,648
    NOKIA CORPORATION 1,880 2,009
    NOVO NORDISK A/S-ADR 9,776 12,544
    ORSTED A S 1,795 1,575
    PERNOD RICARD S A 2,655 2,934
    RECKITT BENCKISER PLC 4,199 4,261
    RECRUIT HOLDINGS CO LTD 3,207 3,500
    RELX PLC 5,000 5,576
    RIO TINTO PLC 1,302 1,138
    ROYAL KPN NV 1,635 1,553
    SAFRAN SA 6,663 5,938
    SAP SE 5,645 5,604
    SEAGATE TECHNOLOGY HOLDINGS 767 1,017
    SHIN ETSU CHEMICAL CO LTD 5,370 5,492
    SHIONOGI & CO LTD 3,354 4,092
    SMC CORP 5,595 6,109
    STERIS PLC 6,149 7,302
    STMICROELECTRONICS N V 4,298 4,839
    STRAUMANN HOLDING AG 3,727 4,571
    TAIWAN SEMICONDUCTOR MFG CO 11,501 11,670
    TENCENT HOLDINGS LIMITED 4,859 4,043
    TERUMO CORP 1,703 1,815
    TFI INTL INC 3,177 3,700
    TOKYO ELECTRON LTD 1,932 2,446
    TOTALENERGIES SE 2,355 2,522
    TRANE TECHNOLOGIES PLC 491 606
    UNICHARM CORP 1,911 1,962
    ALLSTATE CORP 5.1 H 125,000 135,600
    AT&T 4.75% SER-C 125,000 131,300
    BANK OF AMERICA CORP 5.375% 100,000 107,280
    BANK OF AMERICA CORP 4.375% 50,000 51,160
    BANK OZK 4.625% 125,000 125,700
    BK OF AMERICA 4.250% 125,000 126,850
    BRIGHTHOUSE FINL INC 4.625% 50,000 50,980
    CAPITAL ONE FINANCIAL 4.80% 100,000 104,080
    CAPITAL ONE FINANCIAL 5% 50,000 53,500
    EQUITABLE HLDGS INC 5.25% 100,000 106,000
    FEDERAL AGRICULTURAL 5.25% 100,000 104,840
    FIRST REP BK SAN FCO CAL 4.5% 50,000 52,000
    JPMORGAN CHASE & 4.20% 50,000 51,040
    JPMORGAN CHASE & CO 4.625% 50,000 52,220
    MORGAN STANLEY 4.250% 125,000 126,150
    MORGAN STANLEY 4.875% 125,000 132,250
    TRUIST FINCL CORP 4.75% 50,000 53,180
    WESTERN ASSET DIVERSIFIED INCM 100,000 91,550
    ACAB STRATEGIC INTERVAL COMMON 507,456 438,721
    PE PREMIER BLKSTONE GROWTH 161,188 161,188
    BLACKSTONE BCRED 499,614 499,614
    ABBOTT LABORATORIES 7,915 10,133
    ABBVIE INC COM 10,086 13,134
    ACCENTURE PLC IRELAND CL A 3,740 3,731
    ADIDAS AG 7,602 7,056
    ADOBE INC 8,395 10,207
    ADVANCED AUTO PARTS 3,368 5,037
    ADYEN N V UNSPONSORED ADR 2,927 4,738
    AIA GROUP LTD 6,628 6,371
    AIR PROD & CHEM INC 13,387 15,213
    AIRBUS SE UNSPONSORED ADR 6,560 7,403
    ALCON INC 12,413 15,420
    AMADEUS IT GROUP 7,390 7,720
    AMAZON COM INC 23,491 26,675
    AMERICAN TOWER REIT 7,246 8,483
    APPLE INC 9,641 16,692
    APTIV PLC 4,186 5,608
    ASML HOLDING NV NY REG NEW 16,198 23,088
    ATLAS COPCO AS A ADR 8,210 9,565
    ATLASSIAN CORP PLC 10,743 15,633
    AUTOMATIC DATA PROCESSING INC 8,764 12,329
    BEST BUY CO 6,847 5,994
    BIOMARIN PHARMAC SE 2,584 2,916
    BLACKROCK INC 10,515 13,773
    BNP PARIBAS SP ADR REPSTG 9,937 10,298
    BROADCOM INC 12,010 19,297
    BURBERRY GROUP PLC 5,646 5,796
    CDN PACIFIC RY LTD NEW 9,075 8,993
    CELLNEX TELECOMM SA UNS ADR 4,398 4,276
    CHEVRON CORP 7,392 9,036
    CISCO SYS INC 10,496 13,625
    COMCAST CORP (NEW) CLASS A 5,038 5,536
    COMPASS GROUP PLC SPD ADR 7,164 7,682
    CORNING INC 4,402 4,133
    CRH PLC ADR 7,733 8,554
    CROWN CASTLE INTL CORP 10,963 13,151
    CVS HEALTH CORP 4,455 6,499
    DEXCOM INC 3,459 4,296
    EATON CORP PLC 10,636 12,962
    EDP ENGERGIAS DE PORTGUAL 9,155 9,365
    ELASTIC N V 5,156 5,662
    ELI LILLY & CO 8,182 11,600
    EQUINIX INC 6,112 6,766
    ESSILORLUXOTTICA ADR 3,881 4,062
    EVERSOURCE ENERGY COM 3,510 3,730
    FANUC CORPORATION UNSP ADR 6,204 6,429
    FIDELITY NATL INFORMATION 6,338 5,130
    GIVAUDAN SA ADR 5,391 7,028
    HOME DEPOT INC 15,550 24,070
    HONEYWELL INTERNATIONAL INC. 8,362 9,799
    HOYA CORP SPONS ADR 8,201 9,722
    ICON PLC 8,984 13,007
    IHS MARKIT LTD 5,217 7,709
    ILL TOOLS WORKS INC 5,861 7,157
    INDUSTRIA DE DISENO TEXTIL IND 6,591 6,507
    INTESA SANPAOLO S.P.A ADR 5,339 4,984
    INTUITIVE SURGICAL INC 4,063 4,311
    JPMORGAN CHASE & CO 15,772 18,526
    KBC GROUP NV UNSPONS ADR 4,130 4,999
    LOREAL CO ADR 9,004 11,164
    LEGRAND SA 6,274 8,082
    LINDE PLC 9,989 13,139
    LOOKHEED MARTIN CORP 7,347 7,108
    LONDON STK EXCHANGE GROUP 10,925 9,907
    MARSH & MCLENNAN COS INC 8,365 11,645
    MCDONALDS CORP 8,623 10,722
    MEDTRONIC PLC SHS 11,563 10,448
    MERCK & CO INC NEW COM 13,466 13,641
    META PLATFORMS INC CL A 18,415 22,535
    MICROSOFT CORP 29,747 43,048
    MONDELEZ INTL INC COM 13,268 14,986
    MONOTARO CO LTD ADR 2,831 2,468
    MONSTER BEVERAGE CORP 4,645 5,282
    NESTLE SPON ADR 15,293 18,248
    NETFLIX INX 8,131 8,434
    NEXTERA ENERGY INC. 13,927 17,925
    NICE LTD ADR 4,318 4,554
    NIDEC CORP 4,137 5,164
    NIKE INC B 6,479 6,833
    NOVO NORDISK 9,397 13,216
    NVIDIA CORPORATION 6,251 14,705
    NXP SEMICONDUCTORS 3,271 4,555
    OCADO GROUP PLC 3,913 3,042
    PALO ALTO NETWORKS 3,986 7,794
    PAYCHEX INC 6,631 10,647
    PAYPAL HLDGS INC COM 4,121 4,148
    PEPSICO INC 12,466 15,112
    PHILLIPS 66 COM 2,904 2,898
    PNC FINL SVCS GP 7,566 9,825
    PROCTOR & GAMBLE 12,769 15,376
    PROLOGIS INC COM 7,129 10,775
    QUALCOMM INC 8,002 12,618
    REALTY INCOME CORP 7,126 7,803
    RECRUIT HOLDINGS CO. LTD. ADR 8,511 9,987
    RENTOKIL GROUP PLC 6,909 8,266
    ROCHE HOLDINGS ADR 10,928 12,508
    SALESFORCE.COM INC 11,451 12,960
    SANDVIK AB SPONS ADR 4,951 5,226
    SEA LIMITED ADR 8,909 7,829
    SEMPRA 8,301 8,465
    SHISEIDO LTD SPON ADR 6,005 5,083
    SPLUNK INC 5,103 4,397
    STARBUCKS CORP WASHINGTON 9,220 11,112
    TAIWAN SMCNDCTR MFG CO LTD 7,358 9,263
    TE CONNECTIVITY LTD NEW 10,077 11,939
    TELEPERFORMANCE SA 6,796 8,684
    TEMENOS AG SPONSORED ADR 4,035 3,983
    TEXAS INSTRUMENTS 14,683 18,281
    THERMO FISHER SCIENTIFIC 6,825 10,676
    THOMSON REUTERS CORP 5,785 7,656
    TOKYO ELECTRON LTD 1,322 2,878
    TRACTOR SUPPLY CO 3,290 4,533
    TRUIST FINL CORP 11,025 13,057
    US BANKCORP COM NEW 5,572 6,403
    UBER TECHNOLOGIES INC 6,243 6,373
    UIPATH INC CL A 3,160 2,415
    ULTA BEAUTY INC 3,973 5,773
    UNITED PARCEL SERVICE SER INC CL-B 15,274 18,219
    UNITEDHEALTH GP INC 7,702 11,549
    VERIZON COMMUNICATIONS 4,320 4,001
    VISA INC CL A 15,094 15,603
    W W GRAINGER INC. 4,886 6,737
    WALT DISNEY CO HLDG CO 7,838 7,899
    WEC ENERGY GROUP INC COM 5,870 6,018
    WORKDAY INC CL A 4,595 5,190
    WORLDLINE SA ADR 4,785 3,080
    ISHARES EDGE MSCI MIN VOL USA 175,866 207,913
    ISHARES S&P MIDCAP 400 169,535 211,178
    VANGUARD TOTAL INT'L STOCK 87,807 95,355

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    US Government Securities - End of Year Book Value:

    0
    US Government Securities - End of Year Fair Market Value:

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


    2,508,592
    State & Local Government Securities - End of Year Fair Market Value:


    2,642,343


    TY 2021 InvestmentsOtherSchedule2
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALEXANDRIA REAL ESTATE AT COST 737 892
    AMERICAN TOWER CORPORATION AT COST 7,460 8,190
    AVALONBAY COMMUNITIES INC AT COST 769 1,010
    BOSTON PROPERTIES INC AT COST 431 461
    CUBESMART AT COST 2,314 2,846
    LAMAR ADVERTISING COMPANY AT COST 4,615 5,216
    PHYSICIANS REALTY TRUST AT COST 2,039 2,090
    PROLOGIS INC AT COST 1,068 1,515
    REALTY INCOME CORP AT COST 191 215
    STAG INDUSTRIAL INC AT COST 2,539 3,069
    VENTAS INC AT COST 750 716
    BLACKSTONE REIT AT COST 1,000,000 1,241,483

    TY 2021 LegalFeesSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 13,973 0 0 13,973


    TY 2021 OtherExpensesSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMPUTERS/ELECTRONIC DEVICES 6,887 0 0 6,887
    EQUIPMENT/FURNITURE PURCHASE 9,238 0 0 9,238
    OFFICE SUPPLIES 3,505 0 0 3,505
    PROPERTY INSURANCE 59,910 0 0 59,910
    PROPERTY MAINTENANCE 124,733 0 0 124,733
    WEBSITE HOSTING/SUPPORT 980 0 0 980
    CREDIT CARD FEES 869 0 0 869
    MISCELLANEOUS 16,926 0 0 16,926
    ANIMAL CARE 66,804 0 0 66,804
    LAND MANAGEMENT SUPPLIES 28,928 0 0 28,928
    RENTAL EXPENSES 8,098 8,098 8,098 0


    TY 2021 OtherIncreasesSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Description Amount
    BOOK TO TAX ADJUSTMENTS 22,665


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT SERVICES 101,895 101,895 0 0
    OTHER PROFESSIONAL FEES 24,288 0 0 24,288


    TY 2021 TaxesSchedule
    Name:
    HORST RECHELBACHER FOUNDATION
    EIN:
    41-1956679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAXES 13,186 0 0 13,186
    EXCISE TAXES 6,317 0 0 0