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 07-01-2021 , and ending 06-30-2022
Name of foundation
THE DREXEL FUND
 
Number and street (or P.O. box number if mail is not delivered to street address)212 BROADWAY EAST 22777
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SEATTLE, WA98102
A Employer identification number

46-5768451
B Telephone number (see instructions)

(617) 778-8118
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$18,444,694J 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) 3,550,955
2 Check bullet.............
3 Interest on savings and temporary cash investments 631 631  
4 Dividends and interest from securities... 516 516  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -526
b Gross sales price for all assets on line 6a 101,626
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 31,285 0  
12 Total. Add lines 1 through 11........ 3,582,861 1,147  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 422,489 0   422,489
14 Other employee salaries and wages...... 285,841 0   285,841
15 Pension plans, employee benefits....... 165,433 0   163,457
16a Legal fees (attach schedule)......... Click to see attachment 7,335 0   7,335
b Accounting fees (attach schedule)....... Click to see attachment 50,338 0   49,498
c Other professional fees (attach schedule).... Click to see attachment 105,462 0   108,439
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 16 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 12,416 0   9,641
21 Travel, conferences, and meetings....... 76,359 0   72,852
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 94,588 0   94,588
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,220,277 0   1,214,140
25 Contributions, gifts, grants paid....... 2,254,064 2,457,048
26 Total expenses and disbursements. Add lines 24 and 25 3,474,341 0   3,671,188
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 108,520
b Net investment income (if negative, enter -0-) 1,147
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,080,711 179,817 179,817
2 Savings and temporary cash investments......... 4,997 2,876,857 2,876,857
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet13,935,539
Less: allowance for doubtful accounts bullet   16,442,737 13,935,539 13,935,539
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.......... 2,775 3,500 3,500
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment1,248,988 1,248,988
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,000,000 Click to see attachment199,993 199,993
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,531,220 18,444,694 18,444,694
Liabilities 17 Accounts payable and accrued expenses.......... 37,955 41,620
18 Grants payable................. 932,981 733,192
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)......... 970,936 774,812
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........... 1,494,367 2,329,715
25 Net assets with donor restrictions............ 16,065,917 15,340,167
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 17,560,284 17,669,882
30 Total liabilities and net assets/fund balances (see instructions). 18,531,220 18,444,694
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
17,560,284
2
Enter amount from Part I, line 27a .....................
2
108,520
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,078
4
Add lines 1, 2, and 3 ..........................
4
17,669,882
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
17,669,882
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   2021-07-01 2022-06-30
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 101,626   102,152 -526
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       -526
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 -526
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 16
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 16
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 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 16
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet   RefundedBullet 11  
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.DREXELFUND.ORG
    14
    The books are in care ofbulletJOHN ERIKSEN Telephone no.bullet (617) 778-8118

    Located atbullet212 BROADWAY EAST 22777SEATTLEWA ZIP+4bullet98102
    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)
    Yes
     
    (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
    Yes
     
    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
    BJ CASSIN CHAIRMAN
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    THOMAS J HEALEY TREASURER
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    NICK HOWLEY TRUSTEE
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    DARREN JACKSON SECRETARY
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    DARLA ROMFO TRUSTEE
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    DR DANIEL SCOGGIN TRUSTEE
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    CHRISTOPHER WILSON TRUSTEE
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    MICHAEL MESSNER TRUSTEE
    2.00     		0 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    ABIGAIL SCHUMWINGER TRUSTEE, PARTNER AND INVESTMENT DIR
    40.00     		159,989 16,870 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    JOHN ERIKSEN MANAGING PARTNER
    40.00     		262,500 40,590 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    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
    AARUSHI PRABHAKAR INVESTMENT DIRECTOR
    40.00     		159,987 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    MARK GLEASON PARTNER
    40.00     		133,618 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    CHRISTA KEEL DIRECTOR OF FIN. & A
    40.00     		91,948 0 0
    212 BROADWAY EAST 22777
    SEATTLE,WA98102
    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
    JAMES WILLCOX CONSULTING 55,000
    116 SHORE DR
    PORTLAND,TX78374
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,603,941
    b
    Average of monthly cash balances.......................
    1b
    2,906,906
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,510,847
    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
    4,510,847
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    67,663
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    4,443,184
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    222,159
    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
    222,159
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    16
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    16
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    222,143
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    222,143
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    222,143
    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 7 222,143
    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......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 3,671,188
    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..... 222,143
    e Remaining amount distributed out of corpus 3,449,045
    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 3,449,045
    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 ......     		3,449,045
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021.... 3,449,045
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or 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
    ADIA WELLS
    6400 HEARNE AVE
    SHREVEPORT,LA71108     		  PC FY22 FOUNDER STIPEND 80,000
    ACCESS UNLIMITED
    525 W 120TH ST STE 201
    NEW YORK,NY10027     		  PC PLANNING GRANTS 15,000
    AUTISM INSPIRED ACADEMY
    2177 NE COACHMAN ROAD
    CLEARWATER,FL33765     		  PC OTHER SCHOOL SUPPORT 50,000
    AZALEA MONTESSORI SCHOOL
    4502 CARTER AVE
    NORWOOD,OH45212     		  PC NETWORK GRANTS 10,000
    CRISTO REY NETWORK - ORLANDO
    11 E ADAMS ST STE 800
    CHICAGO,IL60603     		  PC PLANNING GRANTS 25,000
    CRISTO REY NETWORK ATLANTA JESUIT HIGH SCHOOL
    222 PIEDMONT AVE NE
    ATLANTA,GA30308     		  PC NETWORK GRANTS 150,000
    CRISTO REY RESEARCH TRIANGLE HS NC
    334 BLACKWELL ST STE 100
    DURHAM,NC27701     		  PC NETWORK GRANTS 100,000
    CRISTO REY ST VIATOR LAS VEGAS COLLEGE PREPARATORY
    2880 N VAN DER MEER STREET
    NORTH LAS VEGAS,NV89030     		  PC OTHER SCHOOL SUPPORT 50,000
    ECCLESIAL SCHOOLS INITIATIVE
    3348 W STATE RD 426
    OVIEDO,FL32765     		  PC OTHER SCHOOL SUPPORT 90,000
    EDWARD CHARLES FOUNDATION DBA ALLPOD
    269 SOUTH BEVERLY DRIVE NO 338
    BEVERLY HILLS,CA90212     		  PC OTHER SCHOOL SUPPORT 10,000
    BRANDY WILLIAMS
    4650 GENERAL DE GAULLE DR
    NEW ORLEANS,LA70131     		  PC FY22 FOUNDER STIPEND 75,000
    GRETCHEN STEWART
    6707 RANCHWOOD LOOP
    NEW PORT RICHEY,FL34653     		  PC FY22 FOUNDER STIPEND 100,000
    GSC YOUTH ATHLETIC ASSOCIATION (ARIZONA URBAN YOUTH FOUNDATION)
    12171 W MIAMI ST
    TOLLESON,AZ85353     		  PC PLANNING GRANTS 25,000
    JUPITER CHRISTIAN SCHOOL
    2823 N AUSTRALIAN AVE
    WEST PALM BEACH,FL33407     		  PC NETWORK GRANTS 20,000
    KING'S ACADEMY (TUSCULUM HILLS BAPTIST CHURCH)
    4930 NOLENSVILLE RD
    NASHVILLE,TN37221     		  PC START-UP GRANTS 50,000
    MERCY EDUCATION SYSTEM OF THE AMERICAS
    8403 COLESVILLE RD STE 400
    SILVER SPRING,MD20910     		  PC START-UP GRANTS 50,000
    MERCY EDUCATION SYSTEM OF THE AMERICAS
    8403 COLESVILLE RD STE 400
    SILVER SPRING,MD20910     		  PC START-UP GRANTS 25,000
    MISERICORDIA CAREER AND TECHNICAL EDUCATION
    1200 SE 10TH ST
    STUART,FL34996     		  PC START-UP GRANTS 172,250
    PARTNERSHIP SCHOOLS
    1011 FIRST AVE STE 1800
    NEW YORK,NY10022     		  PC OTHER SCHOOL SUPPORT 125,000
    SAILFUTURE ACADEMY
    2900 68TH AVE S
    ST PETERSBURG,FL33712     		  PC START-UP GRANTS 250,000
    SETON EDUCATION PARTNERS
    1562 FIRST AVE NO 205-2219
    NEW YORK,NY10028     		  PC OTHER SCHOOL SUPPORT 100,000
    SOUTH BEND MONTESSORI HIGH SCHOOL
    333 W COLFAX AVE
    SOUTH BEND,IN46601     		  PC OTHER SCHOOL SUPPORT 54,000
    ST AUGUSTINE PREPARATORY ACADEMY
    2607 S 5TH ST
    MILWAUKEE,WI53207     		  PC START-UP GRANTS 100,000
    ST MARCUS LUTHERAN SCHOOL
    2215 N PALMER STREET
    MILWAUKEE,WI53212     		  PC NETWORK GRANTS 480,000
    STARS AUTISM SCHOOLS FOUNDATION
    10870 SW 113 PL 2ND FL
    MIAMI,FL33176     		  PC OTHER SCHOOL SUPPORT 100,000
    THE DIVINE SAVIOR SCHOOL
    6055 NW 104TH AVE SUITE 1
    DORAL,FL33178     		  PC OTHER SCHOOL SUPPORT 15,000
    THE JULIE BILLIART SCHOOL
    4982 CLUBSIDE RD
    LYNDHURST,OH44124     		  PC PLANNING GRANTS 14,500
    ADRIANE PETERS
    2529 HARTSFIELD RD
    TALLAHASSEE,FL32303     		NONE INDIVIDUAL SEED GRANTS 262
    ABA HEALING ACADEMY
    4650 GENERAL DE GAULLE DR
    NEW ORLEANS,LA70131     		  PC LEARNING PLAN EXPENSES 2,046
    EDIE MARTWICK
    2345 N 25TH ST
    MILWAUKEE,WI53206     		NONE PC FOUNDERS PROGRAM EXPENSES 1,000
    GENERATION SUCCESS
    PO BOX 871556
    NEW ORLEANS,LA70127     		  PC LEARNING PLAN EXPENSES 24,964
    GENERATION SUCCESS
    PO BOX 871556
    NEW ORLEANS,LA70127     		  PC FOUNDERS PROGRAM EXPENSES 21,043
    IGNITE CLASSICAL
    6400 HEARNE AVE
    SHREVEPORT,LA71108     		  PC LEARNING PLAN EXPENSES 37,806
    IGNITE CLASSICAL
    6400 HEARNE AVE
    SHREVEPORT,LA71108     		  PC FOUNDERS PROGRAM EXPENSES 22,686
    PARAGON ACADEMY OF FINE ARTS
    502 N 28TH AVE
    HOLLYWOOD,FL33020     		  PC SEED GRANTS 2,500
    SARAH SCHNAUDER
    10230 MOLLYLEA DR
    BATON ROUGE,LA70815     		NONE I LEARNING PLAN EXPENSES 3,000
    SEED PROGRAM SCHOOLS
    212 BROADWAY EAST 22777
    SEATTLE,WA98102     		  PC SEED PROGRAM EXPENSES 14,234
    SMART MOVES ACADEMY
    6707 RANCHWOOD LOOP
    NEW PORT RICHEY,FL34653     		  PC LEARNING PLAN EXPENSES 20,020
    SMART MOVES ACADEMY
    6707 RANCHWOOD LOOP
    NEW PORT RICHEY,FL34653     		  PC FOUNDERS PROGRAM EXPENSES 22,728
    THE OAKS ACADEMY
    2301 N PARK AVE
    INDIANAPOLIS,IN46205     		  PC SEED GRANTS 1,500
    UP CHRISTIAN ACADEMY
    8608 W HEMLOCK ST
    MILWAUKEE,WI53224     		  PC FOUNDERS PROGRAM EXPENSES 4,165
    UP CHRISTIAN ACADEMY
    8608 W HEMLOCK ST
    MILWAUKEE,WI53224     		  PC SEED GRANTS 1,500
    WADE REIMER
    212 BROADWAY EAST 22777
    SEATTLE,WA98102     		NONE I SEED GRANTS 2,500
    FUGEES FAMILY INC
    1933 E DUBLIN GRANVILLE RD 117
    COLUMBUS,OH43229     		  PC GRANT TERMINATION -250,000
    THE BASILICA SCHOOL OF ST MARY'S STAR OF THE SEA
    700 TRUMAN AVE
    KEY WEST,FL33040     		  PC GRANT TERMINATION -13,640
    Total .................................bullet 3a 2,254,064
    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 ...........     		    14 631  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 -526  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER REVENUE     		    14 1,285  
    bADVISORY SERVICES     01 30,000  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 31,906 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    31,906
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    THE DREXEL FUND
     
    Employer identification number

    46-5768451
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    THE DREXEL FUND
          		Employer identification number
    46-5768451
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ACORN HILL FOUNDATION
     
    55 WALLS DRIVE 3RD FLOOR
     
    FAIRFIELD, CT04524

    		$ 20,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    DARREN & TERRY JACKSON FOUNDATION
     
    290 WOODLAWN AVENUE
     
    SAINT PAUL, MN55105

    		$ 660,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    THE HOWLEY FOUNDATION
     
    700 W ST CLAIR AVENUE
     
    CLEVELAND, OH44113

    		$ 25,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    HEALEY FAMILY FOUNDATION
     
    310 SOUTH ST 3RD FL
     
    MORRISTOWN, NJ07960

    		$ 300,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    BETH AND RAVENEL CURRY FOUNDATION
     
    499 PARK AVE FL 17
     
    NEW YORK, NY10022

    		$ 150,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    THE MCCAUSLAND FOUNDATION
     
    PO BOX 274
     
    LAFAYETTE HILL, PA19444

    		$ 200,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Name of organization
    THE DREXEL FUND
          		Employer identification number
    46-5768451
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
    WILSON SHEEHAN FOUNDATION
     
    1115 N LIMESTONE ST
     
    SPRINGFIELD, OH45503

    		$ 2,025,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
    LYNCH FOUNDATION
     
    30 ROWES WHARF STE 600
     
    BOSTON, MA02110

    		$ 30,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    9
    THE SPEEDWELL FOUNDATION
     
    75 MONTGOMERY FERRY DR NE
     
    ATLANTA, GA30309

    		$ 250,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    THE DREXEL FUND
          		Employer identification number

    46-5768451
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    THE DREXEL FUND
          		Employer identification number

    46-5768451
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT FEES 11,750 0   11,750
    ACCOUNTING FEES 38,588 0   37,748

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    US Government Securities - End of Year Book Value:

    1,248,988
    US Government Securities - End of Year Fair Market Value:

    1,248,988
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALLSPRING 100% TREASURY MONEY MARKET FMV 199,993 199,993

    TY 2021 LegalFeesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 7,335 0   7,335


    TY 2021 OtherExpensesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSES 22,521 0   22,521
    INFORMATION TECHNOLOGY 3,820 0   3,820
    INSURANCE 6,258 0   6,258
    CONVENING 58,973 0   58,973
    OTHER EXPENSES 3,016 0   3,016


    TY 2021 OtherIncomeSchedule2
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER REVENUE 1,285   1,285
    ADVISORY SERVICES 30,000   30,000


    TY 2021 OtherIncreasesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Description Amount
    UNREALIZED GAIN ON INVESTMENTS 1,078


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING 105,462 0   108,439


    TY 2021 TaxesSchedule
    Name:
    THE DREXEL FUND
    EIN:
    46-5768451
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAXES 16 0   0