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 05-01-2021 , and ending 04-30-2022
Name of foundation
ROY J CARVER CHARITABLE TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)202 IOWA AVENUE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MUSCATINE, IA527613733
A Employer identification number

42-1186589
B Telephone number (see instructions)

(563) 263-4010
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$359,646,469J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 900 900  
4 Dividends and interest from securities... 5,177,031 8,670,701  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 16,246,113
b Gross sales price for all assets on line 6a 103,546,657
7 Capital gain net income (from Part IV, line 2)... 21,662,535
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 807,000 592,727  
12 Total. Add lines 1 through 11........ 22,231,044 30,926,863  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 566,393 152,634   413,759
14 Other employee salaries and wages...... 521,287 5,601   515,686
15 Pension plans, employee benefits....... 241,900 14,909   226,991
16a Legal fees (attach schedule)......... Click to see attachment 8,099 1,620   6,479
b Accounting fees (attach schedule)....... Click to see attachment 36,520 7,304   29,216
c Other professional fees (attach schedule).... Click to see attachment 1,363,746 1,355,219   8,527
17 Interest...............   10,544    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 403,066 164,763   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 64,783 12,957  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,902 0   2,902
22 Printing and publications.......... 2,019 0   2,019
23 Other expenses (attach schedule)....... Click to see attachment 129,345 1,073,739   103,713
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,340,060 2,799,290   1,309,292
25 Contributions, gifts, grants paid....... 8,372,429 14,586,576
26 Total expenses and disbursements. Add lines 24 and 25 11,712,489 2,799,290   15,895,868
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 10,518,555
b Net investment income (if negative, enter -0-) 28,127,573
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............. 4,000 4,000 4,000
2 Savings and temporary cash investments......... 5,437,346 7,326,541 7,326,541
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 13,495,254 Click to see attachment12,978,322 12,859,137
b Investments—corporate stock (attach schedule)....... 57,487,394 Click to see attachment60,550,639 91,208,861
c Investments—corporate bonds (attach schedule)....... 28,149,122 Click to see attachment30,852,900 29,316,015
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans............. 11,223,450 12,047,603 11,801,156
13 Investments—other (attach schedule).......... 113,718,180 Click to see attachment109,354,349 205,201,357
14 Land, buildings, and equipment: basis bullet3,097,938
Less: accumulated depreciation (attach schedule) bullet1,721,829 1,318,662 Click to see attachment1,376,109 1,376,109
15 Other assets (describe bullet) Click to see attachment562,678 Click to see attachment553,293 Click to see attachment553,293
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 231,396,086 235,043,756 359,646,469
Liabilities 17 Accounts payable and accrued expenses.......... 42,841 105,103
18 Grants payable................. 35,293,639 29,079,492
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment2,451,000 Click to see attachment1,732,000
23 Total liabilities (add lines 17 through 22)......... 37,787,480 30,916,595
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........ 193,608,606 204,127,161
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 193,608,606 204,127,161
30 Total liabilities and net assets/fund balances (see instructions). 231,396,086 235,043,756
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
193,608,606
2
Enter amount from Part I, line 27a .....................
2
10,518,555
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
204,127,161
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
204,127,161
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b ADAMS STREET PARTNERSHIP FUND - 2003 NON-US FUND LP      
c ADAMS STREET PARTNERSHIP FUND - 2003 US FUND LP      
d ADAMS STREET PARTNERSHIP FUND - 2005 NON-US FUND LP      
e ADAMS STREET PARTNERSHIP FUND - 2005 US FUND LP      
ADAMS STREET 2009 DIRECT FUND LP      
ADAMS STREET PARTNERSHIP FUND - 2009 NON-US DEVELOPED MARKETS FUND LP      
ADAMS STREET PARTNERSHIP FUND - 2009 NON-US EMERGING MARKETS FUND LP      
ADAMS STREET PARTNERSHIP FUND - 2009 US FUND LP      
ADAMS STREET 2013 GLOBAL FUND LP      
ADAMS STREET CO-INVESTMENT FUND IIIA LP      
ACADIAN INTERNATIONAL ALL-CAP FUND      
THE EMERGING WORLD INVESTORS LP      
CAPITAL GAIN DIVIDENDS      
DISPOSAL OF FIXED ASSETS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 103,532,700   92,689,911 10,842,789
b       -164,562
c       94,038
d       -265,510
e       432,060
      33,839
      181,254
      66,960
      721,590
      1,577,281
      2,157,800
      5,245,340
      728,059
13,957     13,957
    2,360 -2,360
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       10,842,789
b       -164,562
c       94,038
d       -265,510
e       432,060
      33,839
      181,254
      66,960
      721,590
      1,577,281
      2,157,800
      5,245,340
      728,059
      13,957
      -2,360
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 21,662,535
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........................... 3 390,973
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- ..... 5 390,973
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 340,066
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 52,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 392,066
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,093
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet1,093 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletCARVERTRUST.ORG
    14
    The books are in care ofbulletDR TROY ROSS Telephone no.bullet (563) 263-4010

    Located atbullet202 IOWA AVENUEMUSCATINEIA ZIP+4bullet527613733
    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)
    Yes
     
    (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
    Yes
     
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JOHN A CARVER TRUSTEE
    2.00     		23,250 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    ROY J CARVER JR TRUSTEE/CHAIRMAN
    4.00     		28,600 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    WILLARD L BOYD TRUSTEE
    1.00     		21,500 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    J LARRY GRIFFITH TRUSTEE/VICE CHAIRMAN
    4.00     		27,600 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    TROY K ROSS CHIEF EXECUTIVE OFFICER
    40.00     		399,043 60,538 2,453
    202 IOWA AVENUE
    MUSCATINE,IA52761
    D SCOTT INGSTAD TRUSTEE
    2.00     		25,100 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    DAVID M UTLEY TRUSTEE/SECRETARY
    2.00     		23,050 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    ANDREW B CARVER TRUSTEE
    2.00     		18,250 0 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    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
    LYNNE M SASMAZER PROGRAM DIRECTOR
    40.00     		187,258 38,715 481
    202 IOWA AVENUE
    MUSCATINE,IA52761
    ERIN L VAN HOOK EXEC ASST & FIN DIR
    40.00     		128,498 18,022 274
    202 IOWA AVENUE
    MUSCATINE,IA52761
    LINDA B MUMEY PROGRAM ASST/SEC
    40.00     		65,043 19,489 0
    202 IOWA AVENUE
    MUSCATINE,IA52761
    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
    SMITH GRAHAM & CO ASSET MANAGEMENT 469,320
    600 TRAVIS STREET
    HOUSTON,TX77002
    ACADIAN ASSET MANAGEMENT ASSET MANAGEMENT 318,632
    1 POST OFFICE SQUARE
    BOSTON,MA02109
    LSV ASSET MANAGEMENT ASSET MANAGEMENT 233,927
    155 NORTH WACKER DRIVE SUITE 4600
    CHICAGO,IL60606
    GALLIARD CAPITAL MANAGEMENT ASSET MANAGEMENT 111,824
    800 LASALLE AVENUE SUITE 1100
    MINNEAPOLIS,MN55402
    NORTHERN TRUST ASSET MANAGEMENT 95,714
    50 SOUTH LASALLE STREET
    CHICAGO,IL60606
    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
    400,803,023
    b
    Average of monthly cash balances.......................
    1b
    1,727,502
    c
    Fair market value of all other assets (see instructions)................
    1c
    724,504
    d
    Total (add lines 1a, b, and c).........................
    1d
    403,255,029
    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
    403,255,029
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    6,048,825
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    397,206,204
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    19,860,310
    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
    19,860,310
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    390,973
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    390,973
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    19,469,337
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    43,000
    5
    Add lines 3 and 4............................
    5
    19,512,337
    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
    19,512,337
    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 19,512,337
    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...... 1,423,334
    b From 2017...... 1,156,852
    c From 2018...... 1,585,559
    d From 2019...... 1,628,860
    e From 2020...... 821,657
    f Total of lines 3a through e ........ 6,616,262
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 15,995,540
    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..... 15,995,540
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 3,516,797 3,516,797
    (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 3,099,465
    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 ......     		3,099,465
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018.... 648,948
    c Excess from 2019.... 1,628,860
    d Excess from 2020.... 821,657
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ROY J CARVER CHARITABLE TRUST
    202 IOWA AVENUE
    MUSCATINE,IA527613733
    (563) 236-4010
    bThe form in which applications should be submitted and information and materials they should include:
    SUBMIT A WRITTEN OR ELECTRONIC LETTER OF INQUIRY BEFORE SUBMISSION OF A FORMAL REQUEST. INCLUDE THE FOLLOWING INFORMATION: 1. A BRIEF BACKGROUND ON YOUR ORGANIZATION, INCLUDING A HISTORY OF ITS EXISTENCE, THE SIZE OF STAFF AND BOARD AND THE TYPE OF SERVICE PROVIDED. 2. A DESCRIPTION OF THE PROJECT, WHAT IT IS DESIGNED TO ACHIEVE, AND HOW THIS WILL BE ACCOMPLISHED. 3. A PROPOSED BUDGET FOR THE TOTAL COST OF THE PROJECT AND THE AMOUNT YOU INTEND TO REQUEST FROM THE TRUST. 4. A STATEMENT DESCRIBING WHY PARTICIPATION OF THE CARVER TRUST IS VITAL TO THE SUCCESS OF THE PROJECT. INDICATE PAST HISTORY WITH THE TRUST.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    RECIPIENT MUST QUALIFY AS AN EXEMPT CHARITABLE, EDUCATIONAL, OR SCIENTIFIC ORGANIZATION UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE.
    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
    AMERICAN RED CROSS
    PO BOX 37839
    BOONE,IA50037     		  PC DISASTER RELIEF FOR HURRICANE IDA 10,000
    ARROWHEAD YOUTH AND FAMILY SERVICES
    12200 104TH STREET
    COAL VALLEY,IL61240     		  PC SECURITY CAMERA INSTALLATION 35,000
    BERTHA BARTLETT PUBLIC LIBRARY
    503 BROAD STREET
    STORY CITY,IA50248     		  PC LIBRARY EXPANSION 60,000
    BETHANY FOR CHILDREN & FAMILIES
    1860 6TH AVENUE
    MOLINE,IL61265     		  PC GENERAL FUNDS 27,952
    BRIAR CLIFF UNIVERSITY
    3303 REBECCA STREET
    SIOUX CITY,IA51104     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 8,000
    BUENA VISTA UNIVERSITY
    610 WEST 4TH STREET
    STORM LAKE,IA50588     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    CENTRAL COLLEGE
    812 UNIVERSITY
    PELLA,IA50219     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    CHILD ABUSE COUNCIL
    524 15TH STREET
    MOLINE,IL61265     		  PC PROVIDE TRANSITIONAL SUPPORT 100,000
    CHILDREN'S THERAPY CENTER OF THE QUAD CITIES
    4450 48TH AVENUE COURT
    ROCK ISLAND,IL61201     		  PC REPLACE HVAC UNIT 25,000
    CLARKE UNIVERSITY
    1550 CLARKE DRIVE
    DUBUQUE,IA52001     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    COE COLLEGE
    1220 1ST AVENUE NE
    CEDAR RAPIDS,IA52402     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    CONSERVATION CORPS MINNESOTA & IOWA
    60 PLATO BLVD E SUITE 210
    SAINT PAUL,MN55107     		  PC BIOLOGICAL SURVEY PROGRAM IN IOWA 30,000
    CORNELL COLLEGE
    600 1ST STREET SW
    MOUNT VERNON,IA52314     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    CORNELL COLLEGE
    600 1ST STREET SW
    MOUNT VERNON,IA52314     		  PC ATOMIC FORCE MICROSCOPE 195,695
    DORDT COLLEGE
    498 4TH AVENUE NE
    SIOUX CENTER,IA51250     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    DRAKE UNIVERSITY
    2507 UNIVERSITY AVENUE
    DES MOINES,IA50311     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    FAMILY RESOURCES
    2800 EASTERN AVENUE
    DAVENPORT,IA52803     		  PC TRANSITIONAL FUNDING FOR CRIME VICTIM SUPPORT SERVICES 150,000
    FIRST TEE OF THE QUAD CITIES
    6364 NORTHWEST BLVD
    DAVENPORT,IA52806     		  PC CONSTRUCTION OF CLASSROOM 20,000
    GRACELAND UNIVERSITY
    1 UNIVERSITY PLACE
    LAMONI,IA50140     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    GRAND VIEW UNIVERSITY
    1200 GRANDVIEW AVENUE
    DES MOINES,IA50316     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    GRINNELL COLLEGE
    1115 8TH AVENUE
    GRINNELL,IA50112     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    HABITAT FOR HUMANITY QUAD CITIES
    3625 MISSISSIPPI AVENUE
    DAVENPORT,IA52807     		  PC VEHICLE PURCHASE 8,000
    HAND IN HAND
    3860 MIDDLE ROAD
    BETTENDORF,IA52722     		  PC RENOVATE BUILDING FOR EXPANDED PROGRAMMING 100,000
    HOOVER PRESIDENTIAL FOUNDATION
    127 WEST MAIN STREET
    WEST BRANCH,IA52358     		  PC MUSEUM RENOVATION 500,000
    IOWA HISTORICAL FOUNDATION
    600 EAST LOCUST STREET
    DES MOINES,IA50319     		  PC BUILDING IMPROVEMENTS 200,000
    IOWA STATE UNIVERSITY FOUNDATION
    2415 UNION DRIVE
    AMES,IA50011     		  PC CARVER STATEWIDE SCHOLARSHIP PROGRAM 245,000
    IOWA STATE UNIVERSITY
    2415 UNION DRIVE
    AMES,IA50011     		  GOV DEVELOP SALIVA-BASED DIAGNOSTIC TESTS FOR SARS-COV-2 91,285
    IOWA STATE UNIVERSITY
    2415 UNION DRIVE
    AMES,IA50011     		  GOV DEPT OF GENETICS - DEVELOPMENT & CELL BIOLOGY 137,140
    IOWA STATE UNIVERSITY
    2415 UNION DRIVE
    AMES,IA50011     		  GOV EXPAND A PROFESSIONAL DEVELOPMENT PROGRAM FOR K-12 TEACHERS 84,416
    IOWA STATE UNIVERSITY
    2415 UNION DRIVE
    AMES,IA50011     		  GOV STUDY RESPIRATORY VIRUS INFECTION 147,169
    LORAS COLLEGE
    1450 ALTA VISTA STREET
    DUBUQUE,IA52001     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    LOUISA COUNTY CONSERVATION BOARD
    12635 CO RD G56 101
    WAPELLO,IA52653     		  PC CONSTRUCTION OF A PLAYGROUND AT A NEW COUNTY PARK 80,000
    LUTHER COLLEGE
    700 COLLEGE DRIVE
    DECORAH,IA52101     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    MONROE PUBLIC LIBRARY
    416 SOUTH BUCHNAN BOX 780
    MONROE,IA50170     		  PC UPDATE LIBRARY INTERIOR 11,352
    MORNINGSIDE UNIVERITY
    1501 MORNINGSIDE AVENUE
    SIOUX CITY,IA51106     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 12,000
    MORNINGSIDE UNIVERITY
    1501 MORNINGSIDE AVENUE
    SIOUX CITY,IA51106     		  PC CHEMISTRY & MICROBIOLOGY INSTRUMENTATION 170,000
    MOUNT MERCY UNIVERSITY
    1330 ELMHURST DRIVE NE
    CEDAR RAPIDS,IA52402     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    MUSCATINE ART CENTER
    1314 MULBERRY AVENUE
    MUSCATINE,IA52761     		  PC JAPANESE GARDEN RENOVATION 100,000
    MUSCATINE COMMUNITY COLLEGE
    152 COLORADO STREET
    MUSCATINE,IA52761     		  PC PURCHASE EQUIPMENT FOR NURSING EDUCATION 267,261
    MUSCATINE COMMUNITY SCHOOL DISTRICT
    2900 MULBERRY AVENUE
    MUSCATINE,IA52761     		  GOV ROBOTICS CLUB - NATIONAL COMPETITION 12,500
    MUSCATINE COMMUNITY SCHOOL DISTRICT
    2900 MULBERRY AVENUE
    MUSCATINE,IA52761     		  GOV 2022 EXCELLENCE IN EDUCATION PROGRAM 84,600
    NIABI ZOOLOGICAL PARK
    13010 NIABI ZOO ROAD
    COAL VALLEY,IL61240     		  PC CONSTRUCT A NEW ANIMAL EXHIBIT 160,000
    NORTHWESTERN COLLEGE
    101 7TH STREET SW
    ORANGE CITY,IA51041     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    ORCHARD PLACE
    925 SW PORTER AVENUE
    DES MOINES,IA50315     		  PC SUPPORT BUILDING IMPROVEMENTS 200,000
    PRAIRIE CITY PUBLIC LIBRARY
    100 EAST 5TH STREET
    PRAIRIE CITY,IA50228     		  PC BUILDING RENOVATION 60,000
    PUTNAM MUSEUM AND SCIENCE CENTER
    1717 WEST 12TH STREET
    DAVENPORT,IA52804     		  PC CAPITAL IMPROVEMENTS 500,000
    QUAD CITIES ASTRONOMICAL SOCIETY
    PO BOX 3706
    DAVENPORT,IA52806     		  PC CONSTRUCTION OF OBSERVATION FACILITY 20,000
    QUAD CITY BOTANICAL CENTER
    2525 4TH AVENUE
    ROCK ISLAND,IL61201     		  PC RENOVATION OF ABILITY GARDEN 34,000
    SIMPSON COLLEGE
    701 NORTH C STREET
    INDIANOLA,IA50125     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    ST AMBROSE UNIVERSITY
    518 WEST LOCUST STREET
    DAVENPORT,IA52803     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    UNITYPOINT HEALTH - DES MOINES FOUNDATION
    1415 WOODLAND AVENUE SUITE E-200
    DES MOINES,IA50309     		  PC MED STUDENT RESEARCH INITIATIVE 45,000
    UNIVERSITY OF DUBUQUE
    2000 UNIVERSITY AVENUE
    DUBUQUE,IA52001     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    UNIVERSITY OF ILLINOIS
    1305 WEST GREEN STREET
    URBANA,IL61801     		  GOV UPGRADE AN ADVANCED MICROSCOPE 605,981
    UNIVERSITY OF ILLINOIS
    1305 WEST GREEN STREET
    URBANA,IL61801     		  GOV PURCHASE A TRANSMISSION ELECTRON MICROSCOPE 450,000
    UNIVERSITY OF ILLINOIS
    1305 WEST GREEN STREET
    URBANA,IL61801     		  GOV SUPPORT RESEARCH OF PROTEIN STRUCTURE, CONFORMATION AND FUNCTION 116,865
    UNIVERSITY OF ILLINOIS
    1305 WEST GREEN STREET
    URBANA,IL61801     		  GOV ACQUISITION OF MASS SPECTROMETRY INSTRUMENT 493,000
    UNIVERSITY OF IOWA FOUNDATION
    PO BOX 4550
    IOWA CITY,IA52244     		  PC CARVER STATEWIDE SCHOLARSHIPS 245,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV ENGINEERING - MAJOR INITIATIVE IN RESPIRATORY AND PULMONARY BME 1,500,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV CCOM - DIRECT THE 2020 GIFT PAYOUT FOR THE IOWA NEUROSCIENCE INSTITUTE 3,100,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV COLLEGE OF EDUCATION - STUDY ON ENGLISH LANGUAGE INSTRUCTION 102,467
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV CHEMISTRY - DEVELOP NEW UNDERGRADUATE CURRICULA IN CHEMISTRY 65,803
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV LIBRARIES - RENOVATION OF HARDIN LIBRARY 850,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV MEDICINE - EMFS TO TREAT TYPE II DIABETES - DR VAL SHEFFIELD 166,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV BIOLOGY - PURCHASE EQUIPMENT FOR FUNCTIONAL & COMPARATIVE GENOMIC RESEARCH 221,962
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV MEDICINE - EXTEND A CORONAVIRUS RESEARCH PILOT GRANT PROGRAM 1,000,000
    UNIVERSITY OF NORTHERN IOWA FOUNDATION
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV CARVER STATEWIDE SCHOLARSHIPS 245,000
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV ACQUIRE HIGH PERFORMANCE COMPUTING SYSTEM 363,676
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV CENTER FOR ENERGY AND ENV. ED. - DEVELOP EDUCATIONAL PROGRAM IN PUBLIC HEALTH 62,463
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV UPDATE INSTRUCTIONAL MICROSCOPY EQUIPMENT 213,009
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV UPDATE FACILITIES USED IN HYDROLOGY AND WATER SCIENCE STUDIES 165,000
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV ACQUISITION OF EQUIPMENT FOR INSTRUCTION IN AUTOMATED MANUFACTURING 149,980
    UNIVERSITY OF NORTHERN IOWA
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  GOV ACQUISITION OF EQUIPMENT FOR USE IN CHEMISTRY AND BIOCHEMISTRY 150,000
    UPPER IOWA UNIVERSITY
    605 WASHINGTON STREET
    FAYETTE,IA52142     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    VILLAGE OF MATHERVILLE
    PO BOX 585
    MATHERVILLE,IL61263     		  GOV DEVELOP A LAKESIDE RECREATION AREA 25,000
    VOLGA PUBLIC LIBRARY
    505 WASHINGTON STREET
    VOLGA,IA52077     		  PC RENOVATE BUILDING FOR EXPANSION 60,000
    WARTBURG COLLEGE
    100 WARTBURG BLVD
    WAVERLY,IA50677     		  PC PRIVATE COLLEGE CARVER SCHOLARSHIP PROGRAM 16,000
    Total .................................bullet 3a 14,586,576
    bApproved for future payment
    CHILD ABUSE COUNCIL
    524 15TH STREET
    MOLINE,IL61265     		  PC PROVIDE TRANSITIONAL SUPPORT 75,000
    IOWA STATE UNIVERSITY FOUNDATION
    2415 UNION DRIVE
    AMES,IA50011     		  PC CARVER STATEWIDE SCHOLARSHIP PROGRAM 122,500
    IOWA STATE UNIVERSITY
    2415 UNION DRIVE
    AMES,IA50011     		  GOV STUDY A BIOCHEMICAL MECHANISM INVOLVED IN THE FORMATION OF MATURE BLOOD CELLS 141,964
    TRINITY MUSCATINE FOUNDATION
    1518 MULBERRY AVENUE
    MUSCATINE,IA52761     		  PC CONSTRUCT A NEW HEALTH CLINIC FACILITY 1,000,000
    UNIVERSITY OF ILLINOIS
    1305 WEST GREEN STREET
    URBANA,IL61801     		  GOV SUPPORT RESEARCH INTO THE RELATIONSHIP BETWEEN PROTEIN STRUCTURE, CONFORMATION AND BIOLOGICAL FUNCTION 87,444
    UNIVERSITY OF IOWA FOUNDATION
    PO BOX 4550
    IOWA CITY,IA52244     		  PC CARVER STATEWIDE SCHOLARSHIP PROGRAM 122,500
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV SUPPORT RESEARCH ON THE USE OF ELECTROMAGNETIC FIELDS TO TREAT TYPE 2 DIABETES 166,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV SUPPORT A MAJOR INITIATIVE IN RESPIRATORY AND PULMONARY BIOMEDICAL ENGINEERING 6,000,000
    UNIVERSITY OF IOWA
    PO BOX 4550
    IOWA CITY,IA52244     		  GOV PROVIDE MAJOR PROGRAM AND ENDOWMENT SUPPORT 24,650,000
    UNIVERSITY OF NORTHERN IOWA FOUNDATION
    1227 WEST 27TH STREET
    CEDAR FALLS,IA50614     		  PC CARVER STATEWIDE SCHOLARSHIP PROGRAM 122,500
    Total .................................bullet 3b 32,487,908
    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 ...........     		    14 900  
    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 16,246,113  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGRANT RECOVERIES     		    01 43,000  
    bCHANGE IN ACCRUED EXCISE TAX     01 764,000  
    cPARTNERSHIP UBI INCOME REPORTED ON K-1 901101 155,319 14 -155,319  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 155,319 22,075,725 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    22,231,044
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING & AUDITING FEES 36,520 7,304   29,216

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

    TY 2021 DepreciationSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 1995-07-27 1,331,453 880,523 SL 39.000000000000 34,140 0    
    LAND IMPROVEMENTS 1995-07-27 10,475 6,927 SL 39.000000000000 269 0    
    LAND IMPROVEMENTS 1995-07-27 26,873 17,772 SL 39.000000000000 689 0    
    BUILDING ADDITIONS 2003-04-22 210,035 94,953 SL 40.000000000000 5,251 0    
    SITE IMPROVEMENTS 2003-04-22 240,860 217,777 SL 20.000000000000 12,043 0    
    CIRCUIT BOARD 2006-11-01 676 245 SL 40.000000000000 17 0    
    ROOFING REPAIRS 2007-09-01 670 235 SL 39.000000000000 17 0    
    BOILER REPAIR 2009-09-29 665 194 SL 40.000000000000 17 0    
    BOILER REPAIR 2010-02-24 712 200 SL 40.000000000000 18 0    
    REPAIR BACKFLOW PREVENTION SYSTEM 2010-06-15 577 158 SL 40.000000000000 14 0    
    BOILER (H3-0182) 2011-08-15 8,956 8,732 SL 10.000000000000 224 0    
    CYLINDERS - NORTIC HUMIDIFIER 2012-03-15 754 691 SL 10.000000000000 63 0    
    BEARING ASSEMBLY FOR HEAT PUMP 2012-04-15 501 455 SL 10.000000000000 46 0    
    ROOF REPLACEMENT 2012-10-13 47,874 20,546 SL 20.000000000000 2,394 0    
    FAN ASSEMBLY 2013-05-01 3,205 2,564 SL 10.000000000000 321 0    
    SURVEILLANCE CAMERA SYSTEM 2014-05-13 2,221 389 SL 40.000000000000 51 0    
    SURVEILLANCE CAMERA SYSTEM (ADD'L CAMERA) 2014-12-29 708 114 SL 40.000000000000 16 0    
    COPIER - KYOCERA TASKALFA 5551CI 2014-05-01 14,634 10,244 SL 10.000000000000 1,463 0    
    SHREDDER - DESTROYIT 3804SC 2014-07-31 3,160 2,159 SL 10.000000000000 316 0    
    UPS POWER BACKUP (APC PRO-1500) 2014-07-13 531 363 SL 10.000000000000 53 0    
    COMPUTER - DELL OPTIPLEX (SECRETARY) 2014-07-13 1,359 928 SL 10.000000000000 136 0    
    COMPUTER - DELL OPTIPLEX 3020 (RECEPTION AREA) 2014-07-13 1,337 914 SL 10.000000000000 134 0    
    PARKING LOT (REPLACEMENT) 2014-09-09 46,744 15,581 SL 20.000000000000 2,337 0    
    BOILER - HONEYWELL MOTOR M8185D 1006 2014-09-30 516 86 SL 40.000000000000 13 0    
    BOILER - RAYPAK MODEL H3-0182 2014-09-24 3,675 613 SL 40.000000000000 92 0    
    COMPUTER - DELL LATITUDE E6440 (LAPTOP) 2015-02-25 1,681 1,051 SL 10.000000000000 168 0    
    WATER HEATER (ELECTRIC) 2015-05-05 632 95 SL 40.000000000000 16 0    
    INVENSYS ZONE VALVE & MOTORS (HVAC SYSTEM) 2015-05-29 999 150 SL 40.000000000000 25 0    
    ACCESS CONTROL SYSTEM (PER MAR) 2015-08-14 7,212 1,037 SL 40.000000000000 180 0    
    ACCESS CONTROL SYSTEM (PER MAR) 2015-09-08 1,792 254 SL 40.000000000000 45 0    
    COMPUTER - DELL LATITUDE E7450 LAPTOP 2015-07-10 1,607 937 SL 10.000000000000 161 0    
    CHRISTMAS TREE - 10' FRASER FIR 2015-10-23 1,799 1,004 SL 10.000000000000 180 0    
    CABINET - COMPUTER EQUIPMENT 2015-11-10 1,386 762 SL 10.000000000000 139 0    
    COMPUTER - DELL LATITUDE E7450 ULTRA LAPTOP 2016-04-19 1,411 717 SL 10.000000000000 141 0    
    LIFEPAK CR - AUTOMATIC DEFIBRILLATOR 2018-05-14 1,575 473 SL 10.000000000000 158 0    
    OFFICE CHAIRS (3) 2018-09-12 3,081 822 SL 10.000000000000 308 0    
    FOUNTAIN PUMP 2018-06-28 4,035 294 SL 40.000000000000 100 0    
    GATE OPENER HEATERS (2) 2018-10-15 1,199 77 SL 40.000000000000 30 0    
    REAR GATE OPENERS 2019-05-01 11,659 583 SL 40.000000000000 290 0    
    FIRE ALARM PANEL 2019-12-01 1,233 175 SL 10.000000000000 123 0    
    SECURITY CAMERA SYSTEM 2020-01-15 16,003 2,134 SL 10.000000000000 1,600 0    
    PROJECTOR & SCREEN 2020-08-01 8,137 610 SL 10.000000000000 814 0    
    SECURITY CAMERA SYSTEM 2020-06-01 1,707 156 SL 10.000000000000 171 0    

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBVIE 107,312 107,331
    ALEXANDRIA REAL 113,038 111,253
    AMEREN ILL CO 113,720 109,555
    AMERICAN EXPRESS CO 209,833 204,264
    AMERIGAS PARTNERS 252,027 246,220
    APACHE 213,225 188,000
    AT&T 116,785 110,800
    ATMOS ENERGY 118,686 117,890
    AVALONBAY COMMUNITIES 61,828 59,985
    AXALTA COATING SYS 237,919 213,750
    BALL 126,840 125,000
    BANK AMERICA 295,387 283,373
    BANK MONTREAL 116,340 112,949
    BANK NOVA SCOTIA BC 119,996 109,734
    BANK NOVA SCOTIA BC (CONVERTIBLE) 39,997 40,398
    BANK OF AMERICA 200,363 185,118
    BANK OF MONTREAL 59,958 58,784
    BANK OF NOVA SCOTIA 49,943 49,436
    BAYLOR SCOTT & WHITE 73,845 73,394
    BLACK HILLS 204,268 201,002
    BOEING 122,795 120,496
    BSTN PPTYS 113,913 108,666
    BUCKEYE PARTNERS 230,026 236,250
    CAPITAL ONE FINANCIAL 187,935 185,349
    CEDAR FAIR/CAN/MAGNUM/MI 228,996 218,797
    CENOVUS ENERGY 99,983 100,057
    CENT GARDEN & PET 239,328 217,125
    CENTERPOINT ENERGY RES 118,772 117,478
    CHENIERE ENERGY 265,087 239,375
    CINTAS 49,989 49,790
    CITIGROUP 462,178 448,449
    COMMONSPIRIT HEALTH 100,618 97,914
    CONOCOPHILLIPS CO 39,961 39,027
    CONSUMERS ENERGY 164,453 158,277
    CREDIT SUISSE GROUP 257,157 245,064
    CVS HEALTH 30,441 28,972
    DAIMLER FIN N AMER 149,712 150,847
    DAIMLER TRUCK FIN NORTH AMER 149,701 146,273
    DEERE & CO 90,276 88,371
    DEVON ENERGY 110,045 97,691
    DTE ELEC CO 110,790 109,376
    DUKE REALTY 61,442 58,360
    DUKE UNIV HEALTH SYS 69,489 67,623
    EMBRAER NETHERLANDS FINANCE 330,875 312,710
    ENBRIDGE 39,998 38,749
    ENERGY TRANSFER 103,226 101,195
    ENLINK MIDSTREAM 92,560 93,564
    ENTERGY LOUISIANA 116,383 113,169
    EQT 183,983 191,494
    ERP OPER 113,448 109,440
    FED REALTY INVT TR 63,850 63,389
    FIFTH THIRD BANCORP 89,978 87,079
    FIRSTENERGY 54,755 48,509
    FISERV 111,869 108,313
    FMC 129,869 125,617
    FORD MOTOR CREDIT CO 249,967 243,477
    FREEPORT-MCMORAN 263,208 241,735
    FULLER H B CO 203,365 211,500
    GENERAL MILLS 85,587 83,159
    GENERAL MOTORS FINANCIAL 200,184 199,359
    GOLDMAN SACHS 300,714 291,968
    GRAPHIC PACKAGING 4,809 4,987
    HCP 31,399 30,237
    HELIOS LEASING I 56,233 54,915
    HEXCEL 208,312 196,072
    HONDA MOTOR CO 130,000 126,140
    HOST HOTELS 199,150 199,432
    HP 113,781 107,797
    HSBC HOLDINGS 405,470 391,400
    HUNGTINGTON 69,847 68,707
    INGERSOLL-RAND 69,942 69,041
    INTERSTATE POWER & LIGHT 112,468 109,258
    IPALCO ENTERPRISES 150,393 149,180
    JOHNS HOPKINS HEALTH 174,786 174,622
    JPMORGAN CHASE & CO 550,269 534,363
    KANSAS CITY POWER & LIGHT 111,071 110,465
    KEYCORP 159,894 161,900
    KIMCO REALTY 123,061 118,465
    KLA 116,481 112,687
    LAMAR MEDIA 239,344 214,594
    LENNOX INTERNATIONAL 112,615 111,089
    LOUISVILLE GAS & ELECTRIC CO 111,056 108,737
    MAGELLAN MIDSTREAM 64,966 62,210
    MARATHON OIL 100,625 104,380
    MARSH & MCLENNAN 111,996 110,411
    MCCORMICK & CO 113,080 109,663
    MEDNAX 185,362 172,374
    MICROCHIP TECHNOLOGY 233,436 223,104
    MID-AMERICA APTS 103,228 98,178
    MITSUBISHI UFJ FINL GROUP 200,000 178,766
    MOOG 251,832 228,156
    MORGAN STANLEY 456,330 439,938
    MOSAIC 224,559 223,130
    MPLX 199,668 198,147
    NATIONAL RETAIL PPTYS 107,234 105,919
    NEW YORK & COMPANY 156,040 155,882
    NORFOLK SOUTHERN 115,211 109,640
    NORTHERN STATES POWER 112,233 110,268
    NUSTAR LOGISTICS 241,017 224,469
    NUTRIEN 10,164 9,818
    OCCIDENTAL PETROLEUM 99,931 94,000
    ONCOR ELECTRIC DELIVERY CO 197,401 189,939
    ORACLE 139,329 136,774
    PETROLEOS 85,000 84,746
    PHILLIPS VAN HEUSEN 39,596 36,981
    PLAINS ALL AMERICAN PIPELINE 126,289 126,229
    PROTECTIVE LIFE 147,195 142,213
    PROVIDENCE HEALTH & SERVICES 61,166 60,423
    PUBLIC SERVICE ELECTRIC 129,108 122,824
    PUBLIC SERVICE ENTERPRISE GROUP 116,347 115,627
    PVTPL 7-ELEVEN 29,929 26,830
    PVTPL ALLISON TRANSMISSION 263,557 240,899
    PVTPL ANTERO RESOURCES 257,642 239,387
    PVTPL ASHLAND 228,128 194,625
    PVTPL BAE SYS HOLDINGS 110,860 109,596
    PVTPL BMW US CAP 86,549 86,847
    PVTPL CARGILL 69,805 69,920
    PVTPL CCO HOLDINGS 311,510 277,092
    PVTPL CDK GLOBAL 243,327 226,777
    PVTPL CHARLES RIVER LABORATOIES INTERNATIONAL 229,563 214,769
    PVTPL CLEAN HARBORS 253,625 245,000
    PVTPL CLEARWATER PAPER 233,938 197,716
    PVTPL COMMONWEALTH BK AUSTRALIA 100,000 96,830
    PVTPL COTERRA ENERGY 221,943 221,538
    PVTPL DT MIDSTREAM 184,852 182,000
    PVTPL EMD FINANCE 113,478 108,944
    PVTPL FAIR ISAAC 381,759 351,745
    PVTPL FOOT LOCKER 196,971 166,500
    PVTPL GARTNER 246,310 225,228
    PVTPL GEOGIA-PACIFIC 123,846 120,079
    PVTPL GRAFTECH FINANCIAL 172,250 159,731
    PVTPL GRAPHIC PACKAGING INTERNATIONAL 224,926 200,312
    PVTPL GRAY OAK PIPELINE 150,503 141,964
    PVTPL GULFSTREAM NATURAL GAS SYS 113,801 111,644
    PVTPL HANESBRANDS 250,113 249,687
    PVTPL HF SINCLAIR 116,084 112,945
    PVTPL HOLOGIC 260,571 235,804
    PVTPL INGEVITY 203,147 201,375
    PVTPL IQVIA 287,834 272,475
    PVTPL MAGALLANES 100,000 97,207
    PVTPL MASONITE 240,929 215,415
    PVTPL MSCI 213,650 184,210
    PVTPL MUELLER WATER PRODUCTS 229,578 201,375
    PVTPL NEXTERA ENERGY OPERATING PARTNERS 262,284 230,812
    PVTPL ON SEMICONDUCTOR 226,824 208,734
    PVTPL OPEN TEXT CORP 240,445 218,588
    PVTPL PENNSYLVANIA ELECTRIC CO 200,962 199,542
    PVTPL PRINCIPAL LIFE GLOBAL FUNDING II 117,718 113,254
    PVTPL ROGERS COMMUNICATIONS 39,979 38,769
    PVTPL ROLLS-ROYCE 197,750 188,000
    PVTPL SEALED AIR 251,719 230,063
    PVTPL SENSATA TECHNOLOGIES 227,250 200,580
    PVTPL STERICYCLE 250,888 216,053
    PVTPL TELEFLEX 207,486 188,500
    PVTPL VALVOLINE 227,820 195,188
    PVTPL W R GRACE HOLDINGS 211,530 200,500
    PVTPL WILLIAM CARTER CO 255,954 249,113
    PVTPL WOLVERINE WORLD WIDE 201,825 169,968
    RANGE RESOURCES 281,423 287,600
    REALTY INCOME 112,163 107,774
    ROYAL BK CDA 129,953 123,981
    ROYAL BK CDA GLOBAL 116,489 112,787
    RYDER SYSTEM 110,516 109,617
    SABINE PASS LIQUEFACTION 109,366 102,270
    SANTA ROSA LEASING 26,773 26,421
    SEAGATE HDD CAYMAN 384,236 355,584
    SEMPRA ENERGY 39,929 39,443
    SERVICE CORP INTERNATIONAL 308,427 281,438
    SILGAN HOLDINGS 254,944 228,463
    SOUTHERN CALIFORNIA EDISON 111,013 110,257
    SOUTHWESTERN PUBLIC SERVICE CO 111,493 109,768
    STANLEY BLACK & DECKER 19,973 19,414
    STATE STREET 60,000 57,316
    TAKE-TWO INTERACTIVE SOFTWARE 19,991 19,841
    TELEFLEX 52,844 49,000
    TEVA 202,383 192,942
    T-MOBILE USA 225,476 203,549
    TORONTO DOMINOIN BK 118,118 113,880
    TWITTER 231,667 225,470
    TYCO ELECTRONICS 112,767 110,137
    UBS GROUP FDG SWITZ 200,000 199,607
    UDR 71,008 67,136
    VALE OVERSEAS 242,534 236,588
    VENTAS REALTY 110,567 106,512
    VERISIGN 45,000 45,207
    WELLS FARGO & CO 180,000 174,763
    WELLTOWER 113,346 110,129
    WESTERN GAS PARTNERS 27,133 24,656
    WESTERN MIDSTREAM 149,850 137,804
    WESTROCK CO 113,519 110,572
    WI ENERGY 113,511 109,091
    WI SCOTTS MIRACLE-GRO 266,568 232,538
    WILLIAMS PARTNERS 111,568 109,744

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Name of Stock End of Year Book Value End of Year Fair Market Value
    5TH 3RD BANCORP 179,453 439,101
    ABBVIE 155,781 499,392
    ACUITY BRANDS 125,443 189,728
    ADVANCED ENERGY INDUSTRIES 102,773 655,700
    AFLAC 241,449 446,784
    AGCO 127,915 318,500
    ALLSCRIPTS HEALTHCARE SOLUTIONS 518,078 1,155,989
    ALLSTATE 132,916 506,160
    ALTRIA GROUP 142,879 183,381
    AMERICAN AIRLINES 141,766 73,203
    AMERICAN AXLE & MFG HOLDINGS 1,184,468 739,361
    AMERICAN FINANCIAL GROUP 120,798 249,264
    AMERIPRISE FINANCIAL 82,427 610,627
    AMERISAFE 180,574 490,893
    AMGEN 88,723 443,061
    ANNALY CAP MGMT 176,005 143,166
    APPLIED MATERIALS 156,509 286,910
    ARES COMMERCIAL REAL ESTATE 600,748 907,048
    ARROW ELECTRONICS 196,489 282,864
    AT&T 522,110 439,438
    ATLAS AIR WORLDWIDE HOLDINGS 418,067 1,149,575
    B & G FOODS 454,875 916,105
    BANC CALIFORNIA 690,735 827,531
    BANK NEW YORK MELLON 392,712 364,282
    BANK OF AMERICA 51,032 317,552
    BELDEN 234,696 556,003
    BERRY GLOBAL GROUP 139,269 176,939
    BEST BUY 168,255 233,818
    BIG LOTS 97,971 98,880
    BIOGEN 68,983 62,232
    BRISTOL MYERS SQUIBB 408,060 579,579
    BRIXMOR PROPERTY GROUP 160,933 190,350
    CAPITAL ONE FINANCIAL 162,034 386,322
    CARDINAL HEALTH 272,569 197,370
    CARTER 104,773 101,088
    CELANESE 232,235 308,574
    CENT GARDEN & PET CO 217,812 215,383
    CHILDRENS PLACE 642,138 769,495
    CIGNA 246,807 296,136
    CIRRUS LOGIC 207,610 826,826
    CISCO SYSTEMS 107,643 318,370
    CITIGROUP 570,521 530,310
    CITIZENS FINANCIAL GROUP 278,393 244,280
    COLUMBIA BANKING SYSTEM 286,167 481,993
    COMCAST 267,528 298,200
    COMMSCOPE HOLDING CO 1,006,540 692,811
    COMSTOCK RESOURCES 873,351 1,848,351
    CONAGRA BRANDS 156,219 188,622
    CONDUENT 1,370,537 1,004,752
    CONSENSUS CLOUD SOUTIONS 20,592 36,904
    CRANE HOLDINGS 106,153 182,837
    CROWN HOLDINGS 91,287 99,036
    CUMMINS 344,841 414,326
    CVS HEALTH 441,867 519,102
    D R HORTON 142,203 180,934
    DAVITA 148,450 184,229
    DECKERS OUTDOOR 172,127 990,185
    DELL TECHNOLOGIES 278,806 244,452
    DELTA AIR LINES 222,685 193,635
    DIAMONDROCK HOSPITALITY 711,787 942,791
    DIEBOLD NIXDORF 651,409 569,285
    DIODES 199,299 160,666
    DISCOVER FINANCIAL SERVICES 71,297 337,380
    DXC TECHNOLOGY 17,767 21,927
    DYCOM INDUSTRIES 511,921 1,433,451
    EAGLE PHARMACEUTICALS 1,062,802 1,026,420
    EASTMAN CHEMICAL 68,820 236,141
    EBAY 175,731 244,024
    ENCORE CAPITAL GROUP 445,396 1,233,492
    ENERGIZER HOLDINGS 208,986 163,566
    ENERSYS 150,273 521,913
    EVEREST RE GROUP 80,111 219,768
    EXXON MOBIL 330,103 435,628
    FEDEX 249,477 278,236
    FIRST HORIZON 466,755 862,525
    FOOT LOCKER 208,471 114,309
    FORD MOTOR 408,489 351,168
    FOX 325,834 318,976
    GAMING & LEISURE PPTYS 187,575 229,755
    GATX 105,134 716,803
    GENERAL MOTORS 321,847 348,772
    GENESCO 245,838 793,674
    GILEAD SCIENCES 471,510 338,238
    GOLDMAN SACHS GROUP 93,283 244,392
    GOODYEAR TIRE & RUBBER 254,436 103,896
    GREEN DOT 575,240 695,338
    GREENBRIER COS 518,214 888,368
    GRIFFON 587,738 564,630
    GROUP 1 AUTOMOTIVE 191,145 1,363,342
    HANESBRANDS 170,833 157,794
    HARLEY DAVIDSON 250,619 153,090
    HARTFORD FINANCIAL SERVICES 223,431 440,559
    HCA HEALTHCARE 101,777 321,825
    HEWLETT PACKARD 122,486 203,412
    HF SINCLAIR 220,149 239,526
    HIBBETT SPORTS 520,445 952,810
    HILLENBRAND 171,797 171,444
    HOMESTREET 226,890 207,009
    HOPE BANCORP 785,859 892,964
    HP 149,193 454,212
    HUNTINGTON INGALLS INDUSTRIES 186,009 191,466
    HUNTSMAN 123,115 287,895
    INGREDION 142,425 144,687
    INTEGER HOLDINGS 182,420 801,087
    INTEL 508,383 810,774
    INTERNATIONAL BUSINESS MACHINES 311,020 356,967
    INTERNATIONAL PAPER COMPANY 150,139 171,236
    ITRON 288,040 363,892
    JAZZ PHARMACEUTICALS 154,621 190,662
    KEYCORP 268,253 218,203
    KOHLS 135,117 150,488
    KOPPERS HOLDINGS 954,773 765,452
    KRAFT HEINZ 213,724 268,569
    KROGER 180,263 491,036
    L3HARRIS TECHNOLOGIES 166,301 185,808
    LA Z BOY 479,931 604,203
    LAM RESEARCH 19,682 93,152
    LEAR 80,110 243,086
    LENNAR 170,691 229,470
    LIGAND PHARMACEUTICALS 788,832 799,525
    LINCOLN NATIONAL 178,263 210,525
    LITHIA MOTORS 99,236 1,249,170
    LOCKHEED MARTIN 203,396 259,272
    LOUISIANA-PACIFIC 137,461 264,532
    LYONDELLBASELL INDUSTRIES 203,758 233,266
    M D C HOLDINGS 605,176 873,586
    MACYS 164,687 58,008
    MARATHON OIL 96,211 97,188
    MARATHON PETROLEUM 77,064 427,574
    MATRIX SERVICE 861,491 601,018
    MDU RESOURCES GROUP 177,402 198,352
    MEDICAL PPTYS TR 207,761 189,417
    MERCK & CO 633,678 1,046,542
    METLIFE 90,153 243,016
    MGIC INVESTMENT CORP 67,265 117,540
    MOLSON COORS BREWING 415,339 395,222
    MORGAN STANLEY 123,925 411,009
    MOSAIC CO 187,946 318,342
    NCR 131,418 157,635
    NEXTGEN HEALTHCARE 826,330 1,285,532
    NORTHROP GRUMMAN 178,821 263,640
    NORTHWEST NATURAL HOLDINGS CO 898,417 903,270
    NRG ENERGY 184,562 211,810
    ORACLE 272,217 374,340
    ORGANON & CO 53,176 62,074
    OSHKOSH 92,412 120,172
    OWENS & MINOR 234,071 1,298,189
    OWENS CORNING 134,276 227,325
    PACWEST BANCORP 261,782 690,394
    PARAMOUNT GLOBAL 375,890 148,512
    PATTERSON COS 463,079 857,806
    PENNYMAC MORTGAGE INVESTMENT TRUST 430,372 547,285
    PFIZER 336,970 996,121
    PHIBRO ANIMAL HEALTH 737,105 581,005
    PHILLIPS 66 107,961 225,576
    PRESTIGE CONSUMER HEALTHCARE 549,716 822,032
    PROASSURANCE 519,074 670,589
    PRUDENTIAL FINANCIAL 102,868 238,722
    QORVO 239,582 204,804
    QUEST DIAGNOSTICS 160,071 173,992
    RADIAN GROUP 114,590 151,869
    REALOGY HOLDINGS 908,255 601,868
    RED ROBIN GOURMET BURGERS 951,717 685,643
    REGIONS FINANCIAL 353,800 366,744
    SANMINA 117,124 188,094
    SCANSOURCE 833,323 1,029,734
    SEAGATE TECHNOLOGY 70,832 352,772
    SELECT MEDICAL HOLDINGS 478,403 1,114,356
    SELECTIVE INSURANCE GROUP 220,160 1,092,670
    SERVICE PPTYS TR 133,863 42,224
    SIMON PROPERTY GROUP 212,989 188,800
    SLEEP NUMBER 71,274 60,840
    SMUCKER J M 167,175 220,457
    SPROUTS FARMERS MARKET 198,341 265,220
    STATE STREET 74,394 113,849
    SYLVAMO 8,673 15,002
    SYNAPTICS 224,864 915,429
    SYNCHRONY FINANCIAL 218,166 191,412
    TARGET 79,561 365,840
    TD SYNNEX 14,175 97,287
    TETRA TECHNOLOGIES 59,890 877,325
    TEXTRON 147,727 200,825
    TRINSEO 169,027 113,880
    TRITON INTERNATIONAL 209,691 230,920
    TRIUMPH GROUP 608,146 634,907
    TTM TECHNOLOGIES 959,050 840,515
    TYSON FOODS 66,354 354,008
    ULTRA CLEAN HOLDINGS 174,230 1,002,957
    UNITED AIRLINES 177,299 176,750
    UNITED BANKSHARES 202,043 369,918
    VALERO ENERGY 45,276 345,588
    VALVOLINE 122,894 160,219
    VERIZON COMMUNICATIONS 658,693 606,530
    VIATRIS 38,642 47,187
    VISHAY INTERTECHNOLOGY 104,864 139,725
    VISTRA 277,055 295,236
    VMWARE 149,157 133,213
    WALLGREENS BOOTS ALLIANCE 392,049 237,440
    WARNER BROS DISCOVERY 163,524 102,293
    WASHINGTON FEDERAL 299,156 643,381
    WEBSTER FINANCIAL 502,562 1,184,013
    WELLS FARGO & CO 51,527 148,342
    WESTROCK 40,515 34,919
    WEX 108,012 604,947
    WHIRLPOOL 111,724 290,432
    WORTHINGTON INDUSTRIES 250,703 624,975
    XEROX HOLDINGS 128,922 105,270
    XPERI HOLDING 1,281,050 779,516

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    US Government Securities - End of Year Book Value:

    11,638,862
    US Government Securities - End of Year Fair Market Value:

    11,551,538
    State & Local Government Securities - End of Year Book Value:


    1,339,460
    State & Local Government Securities - End of Year Fair Market Value:


    1,307,599


    TY 2021 InvestmentsOtherSchedule2
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ACADIAN INTERNATIONAL ALL CAP FUND AT COST 17,623,442 36,619,979
    ADAMS STREET 2009 DIRECT FUND AT COST 38,036 241,079
    ADAMS STREET 2013 GLOBAL FUND AT COST 4,671,870 12,125,880
    ADAMS STREET CO-INVESTMENT FUND III A AT COST 3,121,045 8,173,669
    ADAMS STREET PARTNERSHIP FUND - 2003 NON-US FUND AT COST 637,037 144,127
    ADAMS STREET PARTNERSHIP FUND - 2003 US FUND AT COST 1,350,274 217,617
    ADAMS STREET PARTNERSHIP FUND - 2005 NON-US FUND AT COST 613,799 120,845
    ADAMS STREET PARTNERSHIP FUND - 2005 US FUND AT COST 1,170,943 352,986
    ADAMS STREET PARTNERSHIP FUND - 2009 NON-US DEVELOPED MARKETS FUND AT COST 431,743 724,860
    ADAMS STREET PARTNERSHIP FUND - 2009 NON-US EMERGING MARKETS FUND AT COST 186,676 420,675
    ADAMS STREET PARTNERSHIP FUND - 2009 US FUND AT COST 820,750 1,707,172
    CROWLEY BLUE WATER PARTNERS AT COST 86,000 84,964
    EXPORT-IMPORT BK AT COST 61,866 60,764
    ISHARES TR EAFE SMALL CAP ETF AT COST 12,214,655 17,594,077
    ISHARES TR RUSSELL 1000 GROWTH ETF AT COST 5,234,276 18,037,116
    ISHARES TR RUSSELL MIDCAP ETF AT COST 14,448,350 37,547,200
    MSN 41079 & 41084 LTD SECD NT AT COST 40,950 40,269
    PETROLEOS MEXICANOS AT COST 99,252 71,661
    SMALL BUSINESS ADMIN GTD DEV PARTN CTF SER 2005-20F AT COST 4,724 5,210
    SMALL BUSINESS ADMIN GTD DEV PARTN CTF SER 2013-20A AT COST 65,281 61,482
    SMALL BUSINESS ADMIN GTD DEV SER 2012-20K AT COST 72,711 68,809
    SMALL BUSINESS ADMIN GTD PARTN CTFS SER 2015-10B AT COST 79,707 76,923
    SMALL BUSINESS ADMIN GTD PARTN CTFS SER SBIC 2014-10 AT COST 56,807 55,441
    SMALL BUSINESS ADMIN GTD SER 2014-10B AT COST 27,522 26,460
    SMALL BUSINESS ADMIN SER 2015-10A AT COST 54,670 52,677
    SMITHSONIAN INSTN GEN OBLIG BD SER 2020 AT COST 243,463 243,140
    THE EMERGING WORLD INVESTORS LP AT COST 32,500,000 48,894,541
    VANGUARD REAL ESTATE ETF AT COST 13,398,500 21,431,734

    TY 2021 LandEtcSchedule2
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDINGS 1,738,856 1,166,888 571,968 571,968
    FURNITURE & FIXTURES 274,750 211,090 63,660 63,660
    IMPROVEMENTS 392,704 343,851 48,853 48,853
    LAND 567,038 0 567,038 567,038
    CONSTRUCTION IN PROGRESS 124,590 0 124,590 124,590


    TY 2021 LegalFeesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 8,099 1,620   6,479


    TY 2021 OtherAssetsSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INVESTMENT INCOME 494,678 440,293 440,293
    EXCISE TAX RECEIVABLE 68,000 113,000 113,000


    TY 2021 OtherExpensesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DUES & MEMBERSHIPS 1,180 0   1,180
    POSTAGE 2,201 440   1,761
    BUILDING & GROUNDS EXPENSES 69,461 13,892   55,569
    OFFICE EXPENSES 37,740 7,548   30,192
    TELEPHONE 6,542 1,308   5,234
    INSURANCE 12,221 2,444   9,777
    PORTFOLIO DEDUCTIONS (FROM K-1'S) 0 1,048,107   0


    TY 2021 OtherIncomeSchedule2
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ACADIAN INTERNATIONAL ALL-CAP FUND   400,066  
    ADAMS STREET 2009 DIRECT FUND LP   136  
    ADAMS STREET 2009 DIRECT FUND LP (UBI)   -146  
    ADAMS STREET 2013 GLOBAL FUND LP   29,832  
    ADAMS STREET 2013 GLOBAL FUND LP (UBI)   -133,995  
    ADAMS STREET CO-INVESTMENT FUND IIIA LP   100,870  
    ADAMS STREET CO-INVESTMENT FUND IIIA LP (UBI)   -10,577  
    ADAMS STREET PARTNERSHIP FUND - 2003 NON-US FUND LP   -435  
    ADAMS STREET PARTNERSHIP FUND - 2003 NON-US FUND LP (UBI)   636  
    ADAMS STREET PARTNERSHIP FUND - 2003 US FUND LP   -4,567  
    ADAMS STREET PARTNERSHIP FUND - 2003 US FUND LP (UBI)   3,389  
    ADAMS STREET PARTNERSHIP FUND - 2005 NON-US FUND LP   -1,979  
    ADAMS STREET PARTNERSHIP FUND - 2005 NON-US FUND LP (UBI)   1,310  
    ADAMS STREET PARTNERSHIP FUND - 2005 US FUND LP   5,447  
    ADAMS STREET PARTNERSHIP FUND - 2005 US FUND LP (UBI)   -8,595  
    ADAMS STREET PARTNERSHIP FUND - 2009 NON-US DEVELOPED MARKETS FUND LP   2,926  
    ADAMS STREET PARTNERSHIP FUND - 2009 NON-US EMERGING MARKETS FUND LP   -1,114  
    ADAMS STREET PARTNERSHIP FUND - 2009 NON-US EMERGING MARKETS FUND LP (UBI)   -12  
    ADAMS STREET PARTNERSHIP FUND - 2009 US FUND LP   17,370  
    ADAMS STREET PARTNERSHIP FUND - 2009 US FUND LP (UBI)   -7,326  
    THE EMERGING WORLD INVESTORS LP   199,491  
    GRANT RECOVERIES 43,000   43,000
    CHANGE IN ACCRUED EXCISE TAX 764,000   764,000


    TY 2021 OtherLiabilitiesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED EXCISE TAX 2,451,000 1,732,000


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 1,290,819 1,290,819   0
    INVESTMENT CONSULTING FEES 64,000 64,000   0
    PROFESSIONAL CONSULTING FEES 8,927 400   8,527


    TY 2021 TaxesSchedule
    Name:
    ROY J CARVER CHARITABLE TRUST
    EIN:
    42-1186589
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX PAID (FORM 990-PF) 380,000 0   0
    FEDERAL INCOME TAX PAID (FORM 990-T) 500 0   0
    FOREIGN TAX PAID 22,566 22,566   0
    FOREIGN TAX PAID (FROM K-1'S) 0 142,197   0