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
NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
 
Number and street (or P.O. box number if mail is not delivered to street address)131 S MORGAN STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SHELBYVILLE, IL62565
A Employer identification number

83-3345333
B Telephone number (see instructions)

(217) 774-4001
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$2,506,093J 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) 651
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,204 1,204 1,204
4 Dividends and interest from securities... 73,114 70,146 70,146
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 1,511
8 Net short-term capital gain......... 1,511
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment 46,551 46,551 46,551
12 Total. Add lines 1 through 11........ 121,520 119,412 119,412
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 0      
b Accounting fees (attach schedule)....... 1,255 1,255 1,255  
c Other professional fees (attach schedule).... 14,641 14,641 14,641  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,367 5,367 5,367  
19 Depreciation (attach schedule) and depletion... 761 761 761
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 5,075 5,075 5,075  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 27,099 27,099 27,099 0
25 Contributions, gifts, grants paid....... 82,000 82,000
26 Total expenses and disbursements. Add lines 24 and 25 109,099 27,099 27,099 82,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 12,421
b Net investment income (if negative, enter -0-) 92,313
c Adjusted net income (if negative, enter -0-)... 92,313
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............. 2,001,723    
2 Savings and temporary cash investments.........   81,734 81,734
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).....   0  
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet     0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)   Click to see attachment287,393 325,891
b Investments—corporate stock (attach schedule).......   Click to see attachment311,830 321,296
c Investments—corporate bonds (attach schedule).......   Click to see attachment402,468 390,303
11 Investments—land, buildings, and equipment: basis bullet11,416
Less: accumulated depreciation (attach schedule) bullet1,142 11,035 Click to see attachment10,274 10,274
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment930,024 848,561
14 Land, buildings, and equipment: basis bullet528,000
Less: accumulated depreciation (attach schedule) bullet0 528,000 Click to see attachment528,000 528,000
15 Other assets (describe bullet) Click to see attachment34 Click to see attachment34 Click to see attachment34
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,540,792 2,551,757 2,506,093
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe bullet) 0 0
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 2,540,792 2,551,757
29 Total net assets or fund balances (see instructions)..... 2,540,792 2,551,757
30 Total liabilities and net assets/fund balances (see instructions). 2,540,792 2,551,757
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
2,540,792
2
Enter amount from Part I, line 27a .....................
2
12,421
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,511
4
Add lines 1, 2, and 3 ..........................
4
2,554,724
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
2,967
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
2,551,757
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 BP CAP MARKETS AMERICA UNSECURED 25,000 SHARES P 2021-06-08 2021-12-23
b CHEVRON CORPORATION 23 SHARES P 2021-06-01 2021-12-15
c DISCOVER FINANCIAL 27 SHARES P 2021-08-02 2021-09-08
d GREAT LAKES SMALL CAP 416.99 SHARES P 2021-04-28 2021-11-04
e ORGANON & CO .80 SHARES P 2021-04-28 2021-06-03
ORGANON & CO 6 SHARES P 2021-04-28 2021-06-14
PHILIP MORRIS 26 SHARES P 2021-04-28 2021-11-04
VANGUARD SHORT TERM EFT 115 SHARES P 2021-07-02 2021-12-15
GENERAL ELECTRIC .375 SHARES P 2021-08-02 2021-08-02
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-07-15
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-08-15
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-09-15
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-10-15
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-11-15
FHLMC REMIC PRINCIPAL P 2021-01-01 2021-12-15
(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 26,063 0 26,603 -540
b 2,642 0 2,431 211
c 3,193 0 3,208 -15
d 8,432 0 8,269 163
e 26 0 29 -3
182 0 218 -36
2,435 0 2,449 -14
9,355 0 9,497 -142
38 0 0 38
327 0 0 327
259 0 0 259
308 0 0 308
427 0 0 427
402 0 0 402
126 0 0 126
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 0 0 0 -540
b 0 0 0 211
c 0 0 0 -15
d 0 0 0 163
e 0 0 0 -3
0 0 0 -36
0 0 0 -14
0 0 0 -142
0 0 0 38
0 0 0 327
0 0 0 259
0 0 0 308
0 0 0 427
0 0 0 402
0 0 0 126
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,511
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 1,511
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 1,283
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 1,283
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a  
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Tax Paid with the Original Return: 0 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 23
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,306
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet0 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
 
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)
    bulletIL
    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 ofbulletSHELBY COUNTY STATE BANK Telephone no.bullet (217) 774-4001

    Located atbullet131 S MORGAN STREETSHELBYVILLEIL ZIP+4bullet62565
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
     
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
     
    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
    SHELBY COUNTY STATE BANK TRUSTEE
    1.00     		8,966 0 0
    131 S MORGAN STREET
    SHELBYVILLE,IL62565
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    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 FOUNDATION PROVIDES SCHOLARSHIPS TO LOCAL SHELBY COUNTY, ILLINOIS INDIVIDUALS 82,000
    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
    1,886,051
    b
    Average of monthly cash balances.......................
    1b
    81,734
    c
    Fair market value of all other assets (see instructions)................
    1c
    538,308
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,506,093
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    2,506,093
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    37,591
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    2,468,502
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    123,425
    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
    0
    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....... 26,549
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 0
    b From 2017...... 0
    c From 2018...... 0
    d From 2019...... 0
    e From 2020...... 0
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 82,000
    a Applied to 2020, but not more than line 2a 26,549
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount.....  
    e Remaining amount distributed out of corpus 55,451
    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 55,451
    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......     		 
    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) .......     		 
    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 ......     		55,451
    10 Analysis of line 9:
    a Excess from 2017.... 0
    b Excess from 2018.... 0
    c Excess from 2019.... 0
    d Excess from 2020.... 0
    e Excess from 2021.... 55,451
    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
    92,313       92,313
    b 85% (0.85) of line 2a ......... 78,466       78,466
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		82,000       82,000
    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 ....     		82,000 0 0 0 82,000
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ...... 2,551,757 2,540,792     5,092,549
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 2,551,757 2,540,792     5,092,549
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    SHELBY COUNTY STATE BANK
    131 SOUTH MORGAN STREET
    SHELBYVILLE,IL62565
    (217) 774-4001
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION, TRANSCRIPTS AND LETTER OF REFERENCE
    cAny submission deadlines:
    APPLICATION AND ALL OTHER MATERIALS ARE TO BE SUBMITTED EACH YEAR BY APRIL 15.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    APPLICANT MUST BE A GRADUATE OF A SHELBY COUNTY, ILLINOIS HIGH SCHOOL AND BE ACCEPTED TO A FOUR-YEAR COLLEGE OR UNIVERSITY. THE STUDENT MUST MAINTAIN A 2.75 OR HIGHER GPA. A STUDENT MAY BE ELIGIBLE FOR A SCHOLARSHIP UP TO FOUR YEARS.
    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
    CHRISTINA M MYERS
    326 E CHESTNUT STREET
    MOWEAQUA,IL62550     		  I SCHOLARSHIP 7,000
    JESSICA S RAUCH
    2572 E 1650 NORTH ROAD
    WINDSOR,IL61957     		  I SCHOLARSHIP 5,000
    CIERA K PERRY
    401 E NORTH 2ND
    FINDLAY,IL62534     		  I SCHOLARSHIP 7,000
    ADILYN R MCCRAY
    1020 N 1ST STREET
    GAYS,IL61928     		  I SCHOLARSHIP 7,000
    DEAN S KAUFMAN
    209 E SOUTH 3RD STREET
    STEWARDSON,IL62463     		  I SCHOLARSHIP 7,000
    HALLIE P HORSMAN
    1256 N 1350 EAST ROAD
    SHELBYVILLE,IL62565     		  I SCHOLARSHIP 7,000
    ZACHARY A HOOD
    148 S BROADWAY STREET
    SHELBYVILLE,IL62565     		  I SCHOLARSHIP 7,000
    HANNAH J HAYES
    2890 E 100 NORTH ROAD
    STEWARDSON,IL62463     		  I SCHOLARSHIP 7,000
    CHLOE M DASENBROCK
    335 N 3100 EAST ROAD
    STEWARDSON,IL62463     		  I SCHOLARSHIP 7,000
    JACOB A DANIELS
    1851 N 875 EAST ROAD
    ASSUMPTION,IL62510     		  I SCHOLARSHIP 7,000
    CANDICE M COLCLASURE
    321 N WALNUT STREET
    WINDSOR,IL61957     		  I SCHOLARSHIP 7,000
    DAWSON E BOYS
    219 N 2100 EAST ROAD
    MODE,IL62444     		  I SCHOLARSHIP 7,000
    Total .................................bullet 3a 82,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		        1,204
    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 ............     		         
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) ..     74,318
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    74,318
    (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.)
    3 INCOME FROM INVESTED FUNDS USED TO PROVIDE SCHOLARSHIPS
    4 INCOME FROM INVESTED FUNDS USED TO PROVIDE SCHOLARSHIPS
    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:  
    Part VI Line 7 - Tax Paid with the Original Return: 0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Name of Bond End of Year Book Value End of Year Fair Market Value
    GRANITESHARES EFT BLOOMBERG COMMODITY 36,308 33,268
    VANGUARD SHORT TERM EFT CORP BOND 27,688 27,222
    AMGEN INCSR UNSECURED 27,035 26,353
    AON CORP SR UNSECURED 29,330 28,452
    FLORIDA POWER & LIGHT COVAR RATE 20,000 19,942
    GENERAL MOTORS CO SR 29,699 28,718
    GOLDMAN SACHS GRP INC 27,285 26,507
    GOLDMAN SACHS GRP INC 38,743 37,617
    MORGAN STANLEY MEDIUM TERM 20,320 20,244
    NORTHROP GRUMMAN CORP SR 12,011 11,772
    STANLEY BLACK & DECKER ISR 35,358 34,079
    STATE STREET CORP SR 26,940 26,351
    SYSCO CORPORATION SR 27,310 26,625
    VULCAN MATERIALS COSR 19,103 18,597
    TOTAL CAPITAL GTD NT SR 25,338 24,556

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBVIE INC 8,182 9,749
    AMEREN CORP 3,319 3,560
    AMERICAN EXPRESS COMPANY 7,965 8,016
    AMERIPRISE FINANCIAL INC 3,340 3,922
    ANHEUSER BUSCH INBEV SA/NV 7,407 6,418
    AVERY DENNISON CORP 3,210 3,249
    BANK OF AMERICA CORP 10,607 11,656
    BERKSHIRE HATHAWAY INC SERIES B NEW 10,912 11,661
    BIOGEN INC 4,416 3,599
    BOOKING HLDGS INC 4,392 4,799
    BORG WARNER INC 13,800 12,349
    BOSTON SCIENTIFIC CORP 6,466 6,245
    CVS HEALTH CORPORATION 8,282 10,522
    CANADIAN NATL RY CO 4,987 5,652
    CHEVRON CORPORATION 4,504 5,046
    CISCO SYSTEMS INC 6,413 7,668
    COMCAST CORP NEW CL A 12,934 11,475
    CUMMINS INC 8,853 7,853
    DXC TECHNOLOGY CO 3,383 2,704
    WALT DISNEY CO 8,394 7,280
    DU PONT DE NEMOURS INC 5,261 5,412
    EMERSON ELECTRIC 3,179 3,068
    EXPEDIA INC 3,406 3,614
    GENERAL ELECTRIC CO NEW 6,450 5,574
    ALPHABET INC CL C NON-VOTING 2,517 2,894
    HASBRO INC 3,196 3,359
    INTEL CORP 7,000 6,438
    INTL FLAVOR & FRAGRANCES 4,829 4,971
    LOCKHEED MARTIN CORP 6,778 6,397
    MCKESSON CORP 6,193 7,954
    MERCK & CO INC NEW 9,787 10,040
    ORACLE CORPORATION 7,626 8,547
    PNC BANK CORPORATION 6,777 7,219
    ROYAL DUTCH SHELL PLC 9,936 10,763
    PHILLIP MORRIS INTERNATIONAL INC 10,638 10,260
    PRUDENTIAL FINANCIAL INC 6,885 7,252
    PUBLIC SVC ENTERPRISE GROUP INC 10,005 10,810
    SS&C TECHNOLOGIES HOLDINGS INC 7,980 8,772
    SCHLUMBERGER LTD 3,491 3,474
    J M SMUCKER CO 5,001 5,161
    CITIGROUP INC 10,788 8,998
    UNITEDHEALTH GROUP INC 6,487 8,034
    WABTEC 4,964 5,435
    RENAISSANCE RE HOLDING LTD 11,092 12,022
    CHUBB LIMITED 9,798 11,405

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    US Government Securities - End of Year Book Value:

    56,540
    US Government Securities - End of Year Fair Market Value:

    99,811
    State & Local Government Securities - End of Year Book Value:


    230,853
    State & Local Government Securities - End of Year Fair Market Value:


    226,080


    TY 2021 InvestmentsLandSchedule2
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    CAPITAL LAND IMPROVEMENT 11,416 1,142 10,274  

    TY 2021 InvestmentsOtherSchedule2
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    JANUS HENDERSON FUNDS GLOBAL   37,861 38,531
    LEGG MASON FUNDS   57,056 56,084
    ARTISAN INTERNATIONAL FD ADVISOR   66,485 56,794
    CAUSEWAY INTL VALUE FD   96,753 93,744
    CAMBIAR INTERNATIONAL SMALL CAP FUND   120,961 104,190
    CAUSEWAY EMERGING MKTS   159,935 125,377
    GOLDMAN SACHS TR SMALL CP EQUITY   60,503 50,126
    LAZARD FDS GLOBAL LISTED   77,333 80,144
    GREAT LAKES SMALL CAP   41,163 38,686
    PARNASSUS MID CAP FUND   38,522 39,046
    ARTISAN PARTNERS FDS INC HIGH INCOME   77,936 75,799
    TCW EMERGING MARKETS INCOME   95,516 90,040

    TY 2021 LandEtcSchedule2
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    FARMLAND 88 ACRES 528,000 0 528,000  


    TY 2021 OtherAssetsSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ASSUMPTION COOP ASSET 34 34 34


    TY 2021 OtherDecreasesSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Description Amount
    WELLS FARGO BOND PREMIUM 2,967


    TY 2021 OtherExpensesSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FARM EXPENSES 5,075 5,075 5,075  


    TY 2021 OtherIncomeSchedule2
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CAPITAL GAIN DISTRIBUTIONS 23,536 23,536 23,536
    GOVERNMENT CONSERVATION PAYMENT 1,139 1,139 1,139
    CROP SALES 21,403 21,403 21,403
    CORN SEED SETTLEMENT 334 334 334
    MISCELLANEOUS INCOME 139 139 139


    TY 2021 OtherIncreasesSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Description Amount
    NET CAPITAL GAINS / LOSSES 1,511


    TY 2021 TaxesSchedule
    Name:
    NANNETTE AND WALTER A RAMSEY SCHOLARSHIP SHELBY COUNTY STATE BANK TRUSTEE
    EIN:
    83-3345333
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FARM REAL ESTATE TAXES 1,310 1,310 1,310  
    IL CHARITY BUREAU 15 15 15  
    WALTER RAMSEY FORM 1041 11 11 11  
    FOREIGN TAX PAID ON DIVIDENDS 4,031 4,031 4,031