Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
HORST RECHELBACHER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1010 DALE STREET NORTH
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST PAUL, MN55117
A Employer identification number

41-1956679
B Telephone number (see instructions)

(651) 343-2254
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$34,307,182J 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) 1,750
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 457,149 488,279 488,279
5a Gross rents............ 36,000 36,000 36,000
b Net rental income or (loss) 36,000
6a Net gain or (loss) from sale of assets not on line 10 -266,481
b Gross sales price for all assets on line 6a 7,127,669
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
33,357 0 33,192
12 Total. Add lines 1 through 11........ 261,775 524,279 557,471
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 496,731 0 0 496,731
15 Pension plans, employee benefits....... 83,755 0 0 83,755
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
6,054 0 0 6,054
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25,861 12,931 12,931 12,930
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
167,002 106,802 106,802 60,200
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
12,772 0 12,772 0
19 Depreciation (attach schedule) and depletion... 93,673 0 93,673
20 Occupancy.............. 64,509 0 0 64,509
21 Travel, conferences, and meetings....... 19,709 0 0 19,709
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
494,340 0 331,293 163,047
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,464,406 119,733 557,471 906,935
25 Contributions, gifts, grants paid....... 69,685 69,685
26 Total expenses and disbursements. Add lines 24 and 25 1,534,091 119,733 557,471 976,620
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,272,316
b Net investment income (if negative, enter -0-) 404,546
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 110,950 161,363 161,363
2 Savings and temporary cash investments......... 1,424,813 801,287 801,287
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 5,283,550 Click to see attachment
List of Attached Documents:
// Content
5,342,310 		5,450,492
b Investments—corporate stock (attach schedule)....... 5,770,513 Click to see attachment
List of Attached Documents:
// Content
6,389,941 		6,682,817
c Investments—corporate bonds (attach schedule)....... 4,811,133 Click to see attachment
List of Attached Documents:
// Content
3,417,068 		3,230,447
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,731,344 Click to see attachment
List of Attached Documents:
// Content
1,736,310 		1,986,137
14 Land, buildings, and equipment: basis right arrow5,114,075
Less: accumulated depreciation (attach schedule) right arrow461,438 4,746,308 4,652,637 15,994,639
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 23,878,611 22,500,916 34,307,182
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 23,878,611 22,500,916
29 Total net assets or fund balances (see instructions)..... 23,878,611 22,500,916
30 Total liabilities and net assets/fund balances (see instructions). 23,878,611 22,500,916
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
23,878,611
2
Enter amount from Part I, line 27a .....................
2
-1,272,316
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
22,606,295
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
105,379
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
22,500,916
Form 990-PF (2023)
Form 990-PF (2023)
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
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 7,127,669   7,394,150 -266,481
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       -266,481
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 -266,481
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 -266,481
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 right arrow 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) 1 5,623
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 5,623
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,623
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 679
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 5,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,679
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 207
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 151
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowMN
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
Yes
 
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
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 addressright arrowN/A
14
The books are in care ofright arrowJILL GREENHALGH Telephone no.right arrow (651) 343-2254

Located atright arrow1010 DALE STREET NORTHST PAULMN ZIP+4right arrow55117
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
LINDA KIRAN STORDALEN DIRECTOR, PRESIDENT
5.00 		0 0 0
1010 DALE STREET NORTH
ST PAUL,MN55117
NICOLE RECHELBACHER THOMAS DIRECTOR, VICE PRESIDENT/SECRETARY
5.00 		0 0 0
1010 DALE STREET NORTH
ST PAUL,MN55117
ANTHONY GLEEKEL DIRECTOR, TREASURER
5.00 		0 0 0
1010 DALE STREET NORTH
ST PAUL,MN55117
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
GREG GENTLE DIRECTOR OF OPERATIO
40.00 		104,306 0 0
945 PIONEER DRIVE
OSCEOLA,WI54020
BENJAMIN BROWN FACILITIES/MAINTENAN
40.00 		82,500 0 0
945 PIONEER DRIVE
OSCEOLA,WI54020
JILL GREENHALGH FOUNDATION DIRECTOR
24.00 		71,571 0 0
945 PIONEER DRIVE
OSCEOLA,WI54020
JODI GENTLE PROGRAM COORDINATOR
40.00 		66,032 0 0
945 PIONEER DRIVE
OSCEOLA,WI54020
CHERYL ELLIOTT PROGRAM COORDINATOR
40.00 		54,131 9,902 0
945 PIONEER DRIVE
OSCEOLA,WI54020
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
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
MORGAN STANLEY INVESTMENT MANAGEMENT 60,376
445 EAST LAKE STREET SUITE 320
WAYZATA,MN55391
SITTLOW ESTATE SERVICES LLC CONSTRUCTION SERVICES 51,338
PO BOX 758
OSCEOLA,WI54020
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 THE HORST RECHELBACHER FOUNDATION IS A FAMILY FOUNDATION THAT OPERATES MULTIPLE PROGRAMS AT THE ACREAGE ON 350 ACRES OF PRISTINE HARDWOOD FORESTS, OAK SAVANNAS, MEADOWS, PRAIRIES, WETLANDS AND SHORES OF THE NATIONALLY DESIGNATED WILD & SCENIC ST CROIX RIVER.THE ACREAGE WORKS WITH PARTNER NON-PROFITS TO OFFER A MULTITUDE OF PROGRAMS INCLUDING EDUCATIONAL CLASSES, ENVIRONMENTAL PROGRAMS, CONVENINGS, AND ART EVENTS THAT UTILIZE THE UNIQUE NATURE-BASED SETTING, SCULPTURE GARDEN, ANIMALS AND BUILDINGS THAT ENCOMPASS THE PROPERTY. THE FOUNDATION IS ACTIVELY CONSERVING, RESTORING, MANAGING, AND PRESERVING THE NATURAL ECOSYSTEMS, HABITATS, HISTORICAL SIGNIFICANT AND NATURAL RESOURCES ON THE PROPERTY. 894,005
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.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
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
17,983,731
b
Average of monthly cash balances.......................
1b
194,163
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
18,177,894
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
18,177,894
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
272,668
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
17,905,226
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
895,261
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
 
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
 
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
976,620
b
Program-related investments—total from Part VIII-B..................
1b
0
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
976,620
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 0
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$  
a Applied to 2022, 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 2023 distributable amount..... 0
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 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 0
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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		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 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
0 0 6,902 0 6,902
b 85% (0.85) of line 2a ......... 0 0 5,867 0 5,867
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		976,620 1,283,992 1,273,636 1,360,495 4,894,743
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		69,685 120,200 296,500 356,000 842,385
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		906,935 1,163,792 977,136 1,004,495 4,052,358
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......         0
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		         0
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		596,841 624,248 691,089 724,788 2,636,966
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		        0
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		        0
(3) Largest amount of support
from an exempt organization		         0
(4) Gross investment income         0
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
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 (2023)
Form 990-PF (2023)
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

CHILDREN'S HEALTH CARE FOUNDATION

2525 CHICAGO AVE SOUTH
MINNEAPOLIS,MN55404 		  PC PEDIATRIC PAIN, PALLIATIVE AND INTEGRATIVE MEDICINE CLINIC 25,000

VILLAGE OF OSCEOLA

310 CHEIFTAN ST
OSCEOLA,WI54020 		  GOV GENERAL OPERATING SUPPORT 15,000

OSCEOLA MAINSTREET PROGRAM INC

PO BOX 251
OSCEOLA,WI54020 		  PC OSCEOLA TRAILS COALITION FOR PARKS AND TRAILS 1,500

STEGER CENTER

2008 PORTLAND AVE
ST PAUL,MN55104 		  PC CAPITAL CAMPAIGN PLEDGE 2,000

OPEN CUPBOARD

PO BOX 541
OSCEOLA,WI54020 		  PC GENERAL OPERATING SUPPORT 3,500

ST CROIX VALLEY FOUNDATION

516 SECOND STREET 214
HUDSON,WI54016 		  PC MARINE MILLS FOLK SCHOOL, OSCEOLA SENIOR CENTER PROGRAM, POLK COUNTY MENTAL HEALTH TASK FORCE 14,000

POLLINATOR FRIENDLY ALLIANCE

PO BOX 934
STILLWATER,MN55082 		  PC GENERAL OPERATING SUPPORT 5,185

OSCEOLA HIGH SCHOOL

1111 OAK RIDGE DRIVE
OSCEOLA,WI54020 		  GOV MENTAL HEALTH SUPPORT 500

ST CROIX VALLEY FOOD BANK

1231 INDUSTRIAL STREET 400
HUDSON,WI54016 		  PC GENERAL OPERATING SUPPORT 1,500

WISCONSIN FARMERS UNION FOUNDATION

117 W SPRING STREET
CHIPPEWA FALLS,WI54729 		  PC ST. CROIX VALLEY FOOD ALLIANCE 1,500
Total .................................right arrow 3a 69,685
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
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
aPROGRAM EVENT INCOME         11,927
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 457,149  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 36,000  
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 -266,481  
9 Net income or (loss) from special events:     18 13,162  
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aTAX OVERPAYMENT 		    01 165  
bOTHER REVENUE     01 894  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 240,889 11,927
13Total. Add line 12, columns (b), (d), and (e)..................
13
252,816
(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.)
1 HOSTING EDUCATIONAL CLASSES ABOUT NATURE TO ENHANCE COMMUNITY STEWARDSHIP TO FOSTER A SUSTAINABLE AND VIBRANT FUTURE. EMPOWERMENT THROUGH EDUCATION.
Form 990-PF (2023)
Form 990-PF (2023)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 25,861 12,931 12,931 12,930

TY 2023 InvestmentsCorpBondsSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Name of Bond End of Year Book Value End of Year Fair Market Value
BANK OF AMERICA CORP FXD TO 032025 VAR THRAFTR 6.1000% 397,230 397,258
DUKE ENERGY CORP FXD TO 092024 VAR THRAFTR 4.8750% 54,246 49,415
GENERAL MOTORS FIN CO FXD TO 092027 VAR THRAFTR 5.7500% 209,007 176,319
HUNTINGTON BANCSHARES INC/OH F XD TO 102027 VAR THRAFTR 4.45% 54,361 44,218
JPMORGAN CHASE & CO FXD TO 022025 VAR THRAFTR 4.6000% 206,580 193,086
TRUIST FINANCIAL CORP FXD TO 122025 VAR THRAFTR 4.9500% 55,444 47,877
WELLS FARGO & CO FXD TO 062025 VAR THRAFTR 5.8750% 436,386 397,072
MORGAN STANLEY 151,295 143,754
CAPITAL ONE FINANCIAL CORP 101,211 95,886
MORGAN STANLEY 103,236 98,270
FORD MOTOR CO 100,777 97,522
OCCIDENTAL PETROLEUM CORP 199,955 185,721
THE SOUTHERN CO 4.20% (SOJE) 100,000 79,680
SEMPRA ENERGY 5.750% (SREA) 125,000 123,425
WELLS FARGO & CO 153,756 148,316
BERKSHIRE HATHAWAY INC 251,665 243,050
APPLE INC 250,895 240,528
NATIONAL RURAL UTILITIES COOP 104,762 95,670
BANK OF AMERICA CORP 216,506 199,066
JPMORGAN CHASE & CO 144,756 150,875
ACCRUED INTEREST 0 23,439

TY 2023 InvestmentsCorpStockSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Name of Stock End of Year Book Value End of Year Fair Market Value
ALLSTATE CORP 5.100 H (ALL.H) 125,000 106,200
AT&T INC 4.750% SER-C (T.C) 125,000 98,825
BANK OF AMER CORP 5.375% S-KK (BAC.M) 100,000 92,360
BANK OF AMERICA COR 4.375%-NN (BAC.O) 50,000 38,840
BANK OZK 4.625% PER PFD A (OZKAP) 125,000 83,325
BK OF AMERICA CORP 4.250% DP (BAC.Q) 125,000 93,275
BRIGHTHOUSE FINL INC 4.625% (BHFAM) 50,000 31,450
CAPITAL ONE FINANCIAL 4.80%-J (COF.J) 100,000 70,660
CAPITAL ONE FINANCIAL 5%-I PRF (COF.I) 50,000 36,850
EQUITABLE HLDGS INC 5.25% DPRP (EQH.A) 100,000 86,140
FEDERAL AGRICULTURAL 5.25%-F (AGM.F) 100,000 83,280
FIRST REP BK SAN FCO CAL 4.5% (FRC.N) 50,000 178
JPMORGAN CHASE & 4.20% SER MM (JPM.M) 50,000 37,980
JPMORGAN CHASE & CO 4.625%-LL (JPM.L) 50,000 41,690
MORGAN STANLEY 4.250% DP PFD (MS.O) 125,000 94,850
MORGAN STANLEY 4.875% SER-L (MS.L) 125,000 111,800
TRUIST FINCL CORP 4.75% SER-R (TFC.R) 50,000 40,590
WESTERN ASSET DIVERSIFIED INCM (WDI) 100,000 70,500
ACAP STRATEGIC INTERVAL COMMON (XCAPX) 507,456 588,408
3I GROUP PLC UNSPONS ADR (TGOPY) 2,923 4,290
ABBOTT LABORATORIES (ABT) 3,606 4,047
ABBVIE INC COM (ABBV) 13,029 18,286
ACCENTURE PLC IRELAND CL A (ACN) 8,354 8,422
ADOBE INC 5,734 8,271
AIA GROUP LTD SPON ADR (AAGIY) 6,443 5,717
AIR PROD & CHEM INC (APD) 14,478 14,785
AIRBUS SE UNSPONSORED ADR (EADSY) 3,560 5,404
ALCON INC (ALC) 12,714 14,452
AMADEUS IT GROUP ADR 5,832 6,665
AMAZON COM INC 26,616 27,349
AMGEN INC 2,751 2,793
APPLE INC (AAPL) 9,948 18,098
APTIV PLC 4,186 3,050
ARGENX SE ADR 4,720 4,161
ASML HOLDING NV NY REG NEW (ASML) 12,651 19,083
ATLAS COPCO AS A ADR A NEW (ATLKY) 6,437 8,094
ATLASSIAN CORPORATION CL A 6,267 6,898
AUTOMATIC DATA PROCESSING INC (ADP) 6,444 9,086
ASTRAZENECA PLC ADR 9,705 9,564
BRAMBLES LTD SPONSORED ADR (BXBLY) 4,143 4,918
BROADCOM INC (AVGO) 9,347 26,653
CDN PACIFIC RY LTD NEW (CP) 8,673 9,487
CHEVRON CORP (CVX) 9,695 13,424
CISCO SYS INC (CSCO) 6,664 7,426
CME GROUP INC 2,290 2,270
COMPASS GROUP PLC SPD ADR (CMPGY) 2,787 3,721
COMPUTERSHARE LTD SPN ADR (CMSQY) 4,327 4,311
CORNING INC (GLW) 6,258 4,994
CRH PLC ADR (CRH) 5,774 7,746
DAIICHI SANKYO CO LTD SPON ADR (DSNKY) 7,423 6,674
DELL TECHNOLOGIES INC CL C 2,318 2,540
DEUTSCHE BOERSE AG UNSPON ADR (DBOEY) 6,749 8,014
DEUTSCHE TELEKOM AG 1 ORD 1ADS(DTEGY) 8,656 11,124
EATON CORP PLC SHS (ETN) 12,089 20,522
EDENRED S A ADR 926 837
EDP ENERGIAS DE PORTGUAL SA (EDPFY) 9,155 8,604
ELI LILLY & CO (LLY) 7,807 22,734
EQUINIX INC (EQIX) 6,112 6,443
ESSILORLUXOTTICA ADR (ESLOY) 6,146 6,413
ESTEE LAUDER CO INC CL A (EL) 6,464 4,954
EVERSOURCE ENERGY COM (ES) 3,981 2,901
EXXON MOBIL CORP 4,238 3,799
FASTENAL CO 2,636 3,109
GIVAUDAN SA ADR (GVDNY) 5,510 6,152
HALEON PLC ADR 7,001 7,654
HOME DEPOT INC (HD) 8,537 12,476
HONEYWELL INTL INC (HON) 3,467 5,235
HONG KONG EXCHANGES & CLEARING (HKXCY) 3,880 3,604
HOYA CORP SPONS ADR (HOCPY) 4,832 5,529
IBERDROLA SA SPON ADR (IBDRY) 3,410 3,760
ICON PLC 3,212 5,378
ILL TOOL WORKS INC (ITW) 5,861 7,596
INDUSTRIA DE DISENO TEXTIL IND (IDEXY) 9,856 12,479
INTEL CORP (INTC) 3,593 3,696
INTERCONTINENTAL EXCHANGE INC 1,493 1,776
INTESA SANPAOLO S.P.A. ADR (ISNPY) 4,534 4,871
INTUIT INC 3,649 5,000
INTUITIVE SURGICAL INC 5,840 6,072
JOHNSON CTLS INTL PLC 2,287 1,898
KERING S ADR NEW 4,893 3,599
KEURIG DR PEPPER INC COM (KDP) 9,449 8,597
KINDER MORGAN INCORP (KMI) 3,675 3,704
L OREAL CO ADR (LRLCY) 5,442 7,766
LEGRAND SA (LGRDY) 2,953 3,971
LINDE PLC (LIN) 4,515 8,214
LOCKHEED MARTIN CORP (LMT) 7,819 9,518
LONDON STK EXCHANGE GROUP ADR (LNSTY) 11,434 13,152
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 11,802 12,382
MARSH & MCLENNAN COS INC (MMC) 12,702 17,722
MC DONALDS CORP (MCD) 11,600 15,033
MERCK & CO INC NEW COM (MRK) 13,466 19,406
META PLATFORMS INC CL A 12,133 17,552
MICROSOFT CORP (MSFT) 27,549 45,501
MONDELEZ INTL INC COM (MDLZ) 15,138 18,325
MONOTARO CO LTD ADR (MONOY) 1,635 994
MONSTER BEVERAGE CORP NEW COM 4,169 6,049
NESTLE SPON ADR REP REG SHR(NSRGY) 14,784 14,945
NETFLIX INC 9,567 11,583
NEXTERA ENERGY INC (NEE) 18,305 15,367
NICE LTD ADR 4,318 2,993
NIKE INC B (NKE) 6,287 5,120
NOMURA RESH INST LTD ADR 2,588 2,675
NOVO NORDISK A/S ADR (NVO) 7,534 18,518
NVIDIA CORPORATION (NVDA) 4,247 20,101
NXP SEMICONDUCTORS NV 4,656 4,970
OLYMPUS CORPORATION SPONS ADR (OCPNY) 8,263 6,513
PALO ALTO NETWORKS INC 2,908 9,756
PAYCHEX INC (PAYX) 3,879 6,075
PAYPAL HLDGS INC COM 9,495 3,746
PEPSICO INC NC (PEP) 13,852 16,135
PHILLIPS 66 COM (PSX) 5,812 8,639
PNC FINL SVCS GP (PNC) 12,734 12,388
PROCTER & GAMBLE (PG) 14,453 15,387
PROLOGIS INC COM (PLD) 8,767 10,631
QUALCOMM INC (QCOM) 4,183 5,848
REALTY INCOME CORP (O) 11,342 10,278
REGIONS FINANCIAL CORP NEW 2,277 2,190
RELX PLC SPONSORED ADR (RELX) 4,791 7,099
RENTOKIL INITIAL PLC ADR (RTO) 5,569 4,950
RTX CORPORATION 4,698 4,051
S&P GLOBAL INC COM (SPGI) 5,288 7,672
SALESFORCE INC 5,885 7,692
SANDVIK AB SPONS ADR (SDVKY) 1,587 1,866
SAP AG 9,086 11,440
SEMPRA 10,132 11,508
SHERWIN WILLIAMS COMPANY OHIO (SHW) 5,574 6,778
SHISEIDO LTD SPON ADR (SSDOY) 6,921 3,348
SHOPIFY INC 3,233 4,350
SMC CORP JAPAN SPONSORED ADR 5,025 5,562
SONY GROUP CORPORATION ADR (SONY) 9,651 10,984
SPLUNK INC 2,158 2,875
STARBUCKS CORP WASHINGTON (SBUX) 11,535 11,809
STRAUMANN HLDG AG ADR (SAUHY) 2,535 3,561
STRYKER CORP (SYK) 4,617 5,705
TARGET CORPORATION 4,885 5,693
TESLA INC 1,894 2,982
TEXAS INSTRUMENTS (TXN) 8,993 11,421
THERMO FISHER SCIENTIFIC (TMO) 7,174 9,082
THOMSON REUTERS CORP (TRI) 3,271 5,995
TOKYO ELECTRON LTD UNSPON ADR 8,555 11,823
TRAVELLERS COMPANIES INC COM 9,339 9,905
U S BANCORP COM NEW (USB) 12,871 12,854
UBER TECHNOLOGIES INC 4,013 6,650
UNION PACIFIC CORP 4,567 4,924
UNITED PARCEL SER INC CL-B (UPS) 12,891 11,655
UNITEDHEALTH GP INC (UNH) 7,702 12,109
VISA INC CL A (V) 12,899 16,383
W W GRAINGER INC (GWW) 3,589 8,355
WEC ENERGY GROUP INC COM (WEC) 5,870 5,219
WILLIAMS CO INC (WMB) 9,440 9,752
WORKDAY INC CL A 5,081 5,797
ZOETIS INC CLASS-A (ZTS) 4,717 6,352
ISHARES EDGE MSCI MIN VOL USA (USMV) 160,208 185,009
ISHARES S&P MIDCAP 400 INDEX (IJH) 169,535 206,754
VANGUARD TOTAL INTL STOCK ETF (VXUS) 87,807 86,940
AMDOCS LIMITED 10,653 11,338
AMERICA MOVIL S A B DE C V 3,801 3,778
BEIGENE LTD AMERICAN DEPOSITARY SHARES 6,773 5,050
HDFC BK LTD 10,822 10,939
NETEASE INC SPONSORED ADR 3,615 3,447
TAIWAN SEMICONDUCTOR MFG CO LTD-SPONSORED ADR REPSTG 5 COM 14,510 15,496
TENCENT HOLDINGS LIMITED UNSPONSORED ADR REPRESENTING B 9,568 6,542
ABB LTD SPONSORED ADR 13,809 19,500
ACCENTURE PLC IRELAND SHS CL A 2,186 2,456
ADIDAS AG SPONSORED ADR 5,479 5,798
AIA GROUP LTD SPONSORED ADR 17,421 14,676
AIR LIQUIDE-ADR 7,295 9,455
AIRBUS SE AMERICAN DEPOSITARY RECEIPTS 10,179 12,623
ALLEGION PUBLIC LIMITED COMPANY 8,568 8,615
AMADEUS IT GROUP SA AMERICAN DEPOSITARY RECEIPTS 11,880 14,191
ANHEUSER-BUSCH INBEV SA SPONSORED ADR 7,192 8,271
ASML HOLDING N V N Y REGISTRY SHS 2012 20,524 25,735
ASSA ABLOY AB ADR 3,591 4,033
ASTRAZENECA PLC AMERICAN DEPOSITARY SHARES 20,612 22,158
B&M EUROPEAN VALUE RETAIL SA AMERICAN DEPOSITARY 3,292 3,456
BHP GROUP LIMITED AMERICAN DEPOSITARY SHARES ON 3,711 4,235
BP PLC SPONSORSORED ADR 8,724 8,354
BRITISH AMERICAN TOBACCO PLC SPONSORED ADR 14,516 11,013
CANADIAN NATIONAL RAILWAY CO 6,846 7,789
CAPGEMINI SE AMERICAN DEPOSITARY RECEIPTS UNSPONSORED 8,463 9,466
CARLSBERG AS SPONSORED ADR REPRESENTING 10,933 9,462
CHECK POINT SOFTWARE TECHNOLOGIES LTD 7,663 8,251
CHUBB LTD COM 4,394 5,198
COMPAGNIE FINANCIERE RICHEMONT UNSPONSORED ADR 2,128 2,531
DAIICHI SANKYO CO LTD SPONSORED ADR 6,965 6,756
DAIKIN INDS LTD UNSPONSORED ADR 8,095 7,320
DANONE SPONSORED ADR 5,592 6,288
DASSAULT SYSTEMS SA SPONSORED ADR 3,959 4,789
DBS GROUP HOLDINGS LTD SPONSORED ADR 10,150 10,942
DNB BK ASA AMERICAN DEPOSITARY RECEIPTS 7,895 8,103
DSV A S AMERICAN DEPOSITARY RECEIPTS 5,935 5,446
EATON CORPORATION PLC 3,882 5,780
ENGIE AMERICAN DEPOSITARY RECEIPTS 9,046 11,131
EPIROC AKTIEBOLAG AMERICAN DEPOSITARY RECEIPTS 11,479 11,918
ESSILORLUXOTTICA AMERICAN DEPOSITARY RECEIPTS 13,564 15,848
FUJITSU LTD-ADR NEW 6,112 6,549
GENMAB A S ADS 12,529 11,144
GIVAUDAN SA UNSPONSORED ADR 10,549 11,177
HERMES INTL S A UNSPONSORED ADR 6,146 8,902
HITACHI LTD ADR 5,195 5,915
HONG KONG EXCHANGES & CLEARING LTD UNSPONSORED ADR 1,418 1,064
IBERDROLA S A SPONSORED ADR REPSTG 1 ORD SHS 5,184 6,189
IMPERIAL BRANDS PLC AMERICAN DEPOSITARY RECEIPTS SPONSORED 5,893 5,619
INDUSTRIA DE DISENO TEXTIL INDITEX SA UNSPONSORED ADR 8,178 12,500
ITOCHU CORP-ADR 7,883 8,181
KERING UNSPONSORED ADR 13,023 10,446
KEYENCE CORP US LISTED 11,603 11,772
L OREAL CO-ADR 10,273 13,540
LONDON STK EXCHANGE GROUP AMERICAN DEPOSITARY RECEIPTS 15,928 19,389
LONZA GROUP AG ZUERICH UNSPONSORED ADR 7,960 5,715
LVMH MOET HENNESSY LOUIS VUITTON SA UNSPONSORED ADR 10,689 10,049
MARUBENI CORP-ADR 7,528 6,639
MEDTRONIC PLC COM 49,324 41,025
MTU AERO ENGINES AG UNSPONSORED ADR 5,017 5,608
NESTLE SA-SPONSORED ADR REPSTG REGD ORD (SF 10 PAR) 12,252 11,933
NICE LTD AMERICAN DEPOSITARY SHARES 2,988 2,793
NIDEC CORPORATION SPONSORED ADR 5,134 2,383
NIPPON TELEGRAPH AND TELEPHONE CORPORATION 8,797 9,105
NITORI HOLDINGS CO LTD AMERICAN DEPOSITARY RECEIPTS 5,727 5,571
NOKIA CORPORATION SPONSORED ADR REPSTG 1 SER A 4,246 2,962
NOMURA RESH INST LTD AMERICAN DEPOSITARY RECEIPTS UNSPONSORED 6,407 6,923
NOVO NORDISK A/S-ADR EACH CNV INTO 1 CLASS B 18,041 29,069
NXP SEMICONDUCTORS N V 5,590 7,350
RECKITT BENCKISER PLC SPONSORED ADR 7,133 6,315
RECRUIT HOLDINGS CO LTD AMERICAN DEPOSITARY RECEIPTS 7,701 7,951
RELX PLC AMERICAN DEPOSITARY SHARES 4,927 6,742
ROYAL KPN NV SPONSORED ADR 7,395 7,504
SAFRAN SA UNSPONSORED ADR 15,216 21,754
SAP SE SPONSORED ADR 19,434 23,961
SEAGATE TECHNOLOGY HOLDINGS PLC ORDINARY SHARES 2,517 2,902
SHIN ETSU CHEMICAL CO LTD UNSPONSORED ADR 9,213 13,137
SHOPIFY INC CL A 1,914 4,440
SIKA AG AMERICAN DEPOSITARY SHARE 10,949 13,593
SMC CORP US LISTED 11,895 11,770
STMICROELECTRONICS N V NY REGISTRY SHS 10,021 12,282
STRAUMANN HOLDING AG UNSPONSORED ADR 8,442 9,135
TDK CORP - AMERICAN DEP SHS 6,089 7,623
TERUMO CORP UNSPONSORED ADR 3,924 3,705
TFI INTL INC COM 8,817 11,286
TOKYO ELECTRON LTD UNSPONSORED ADR 7,566 9,315
TOTALENERGIES SE AMERICAN DEPOSITARY SHS EACH 21,576 24,863
UNICHARM CORP SPONSORED ADR 4,212 4,014
UNITED OVERSEAS BANK LTD SPONSORED ADR 12,647 12,121
ABBOTT LABORATORIES 4,043 3,963
ABBVIE INC 6,888 7,749
ADOBE INC COMMON STOCK 7,502 11,335
AIR PRODUCTS & CHEMICALS INC 9,217 9,309
ALPHABET INC 13,779 17,182
AMAZON.COM INC 18,373 22,791
AMERICAN EXPRESS COMPANY 5,301 6,182
AMGEN INC 41,433 49,827
ANALOG DEVICES INC 14,892 17,870
APPLE INC 38,625 50,058
ATLASSIAN CORPORATION CLASS A COMMON STOCK 7,875 9,514
BANK OF AMERICA CORP 8,494 8,013
BECTON DICKINSON & CO 3,403 3,414
BLACKROCK INC 7,847 8,930
BLACKSTONE INC 9,211 11,521
BRISTOL MYERS SQUIBB CO 10,051 7,902
CADENCE DESIGN SYSTEMS INC 6,524 10,895
CHARLES SCHWAB CORP NEW 7,371 7,706
CHEVRON CORPORATION 8,098 8,353
CHIPOTLE MEXICAN GRILL INC 7,946 11,435
CIGNA CORPORATION 4,526 5,091
CME GROUP INC 5,319 5,686
COCA COLA COMPANY 40,134 40,956
COMCAST CORP CL A 9,115 8,814
CONOCOPHILLIPS 9,784 12,652
CVS HEALTH CORPORATION 3,707 3,316
DANAHER CORPORATION 15,466 15,268
DEERE & CO 4,189 4,399
ECOLAB INC 47,236 55,141
ELI LILLY & CO 1,635 2,332
EOG RES INC 5,580 6,531
EXXON MOBIL CORP 31,721 43,791
GALLAGHER ARTHUR J & CO 8,459 8,995
GENERAL DYNAMICS CORP 41,309 51,415
HOME DEPOT INC 40,663 44,358
HONEYWELL INTL INC 40,306 41,732
INTERNATIONAL BUSINESS 3,006 3,762
INTUIT INC 15,659 21,251
JOHNSON & JOHNSON 7,956 7,524
JPMORGAN CHASE & CO 34,315 43,546
LOWES COMPANIES INC 3,467 3,561
MARSH & MCLENNAN COMPANIES INC 1,371 1,705
MARVELL TECHNOLOGY INC 9,007 10,976
MCDONALDS CORP 39,683 46,849
MERCADOLIBRE INC 8,190 11,001
MERCK & CO INC 1,440 1,853
METLIFE INC 4,280 4,034
MICROSOFT CORP 65,407 89,498
MONDELEZ INTERNATIONAL INC COM 3,522 3,911
MORGAN STANLEY 8,165 8,672
NEXTERA ENERGY INC 48,704 38,874
NIKE INC 10,957 9,337
NORFOLK SOUTHERN CORP 8,597 8,746
NORTHROP GRUMMAN CORP 5,368 5,618
NVIDIA CORP 9,949 24,761
PARKER HANNIFIN CORP 2,811 4,146
PEPSICO INC 3,590 3,736
PFIZER INC 3,214 2,130
PHILIP MORRIS INTERNATIONAL INC 7,865 7,809
PNC FINANCIAL SVCS GROUP INC 6,089 5,884
PROCTER & GAMBLE CO 44,415 42,350
PROGRESSIVE CORP-OHIO 2,155 3,026
REPUBLIC SERVICES INC 2,946 3,628
RTX CORPORATION COMMON STOCK 6,629 5,974
SERVICENOW INC 12,046 16,956
STARBUCKS CORP 40,060 39,460
TEXAS INSTRUMENTS INCORPORATED 41,523 40,229
THERMO FISHER SCIENTIFIC INC 12,484 12,208
TJX COMPANIES INC NEW 4,613 5,816
UBER TECHNOLOGIES INC 8,998 11,945
UNION PACIFIC CORP 1,696 1,719
UNITED PARCEL SVC INC CL B 8,853 7,862
UNITEDHEALTH GROUP INC 60,555 66,862
US BANCORP DEL COM 6,668 6,752
VERIZON COMMUNICATIONS 2,946 2,299
VISA INC CL A COMMON STOCK 51,246 61,963
WALMART INC 5,032 5,675
WELLS FARGO & CO 9,232 10,189
A O SMITH CORPORATION 9,481 11,624
AGILENT TECHNOLOGIES INC 3,776 4,310
AKAMAI TECHNOLOGIES INC 10,073 11,598
AMERICAN FINANCIAL GROUP INC 13,539 12,840
APTARGROUP INC 14,891 15,947
ATMOS ENERGY CORP 5,106 5,447
AVERY DENNISON CORP 10,108 11,119
BAXTER INTERNATIONAL INC 1,754 1,430
BEST BUY COMPANY INC 2,722 2,348
BJ S WHOLESALE CLUB HOLDINGS 16,414 15,932
C H ROBINSON WORLDWIDE INC 5,869 5,270
CAPITAL ONE FINANCIAL CORP 929 1,180
CBOE GLOBAL MARKETS INC 10,942 15,713
CENCORA INC COMMON STOCK 2,459 3,491
CHEMED CORPORATION 12,808 15,204
CMS ENERGY CORP 2,590 2,555
COOPER COMPANIES INC NEW (THE) 15,567 18,165
CORNING INC 3,042 2,710
DOLBY LABORATORIES INC CL A 11,211 12,238
DOMINION ENERGY INC COMMON STOCK 3,895 2,914
DOVER CORPORATION 6,402 6,921
DYNATRACE INC 7,442 9,461
EAST WEST BANCORP INC 10,522 11,296
EDWARDS LIFESCIENCES CORP 12,494 10,980
EXPEDITORS INTERNATIONAL OF WASHINGTON INC 11,534 13,102
FACTSET RESEARCH SYSTEMS INC 15,587 17,651
FORTIVE CORPORATION 9,705 10,676
F5 INC 16,261 17,719
GARTNER INC 7,833 10,376
HARTFORD FINANCIAL SERVICES GROUP INC 2,449 2,974
HENRY JACK & ASSOCIATES INC 10,147 9,641
HERSHEY COMPANY 3,053 2,797
HUBBELL INCORPORATED COM 7,819 11,513
IDEX CORP 11,611 12,809
IDEXX LABORATORIES CORP 9,966 11,656
INTERPUBLIC GROUP OF COS INC 11,167 10,902
KENVUE INC COMMON STOCK 2,634 2,541
LINCOLN ELEC HOLDINGS INC 8,500 12,830
MANHATTAN ASSOCIATES INC 6,888 10,120
MASCO CORP 5,467 6,698
MEDPACE HOLDINGS INC COM 10,680 18,698
MICROCHIP TECHNOLOGY INC 1,114 1,082
MONOLITHIC POWER SYS INC 8,331 12,616
MSCI INC 10,215 11,879
NETAPP INC 9,312 11,108
NORDSON CORP 15,037 17,699
NORTHERN TRUST CORP 9,099 10,632
OMNICOM GROUP INC 9,434 10,468
PACKAGING CORP AMER 8,484 9,775
PAYCOM SOFTWARE INC 11,550 13,230
PPG INDUSTRIES INC 6,454 7,178
PUBLIC SERVICE ENTERPRISE GROUP INC 2,618 2,629
REVVITY INC COMMON STOCK 10,340 7,542
ROBERT HALF INTERNATIONAL INC 7,140 6,770
RPM INTERNATIONAL INC 10,910 13,507
SNAP-ON INC 10,901 13,864
SYSCO CORP 4,398 4,095
TELEFLEX INC 14,809 14,212
THE TRAVELERS COMPANIES INC 1,555 1,714
TOPBUILD CORP 10,849 19,087
TORO CO 9,269 8,831
TRUIST FINANCIAL CORPORATION COMMON STOCK 49,427 41,904
VERALTO CORPORATION COMMON STOCK 5,259 5,511
VERISK ANALYTICS INC COM 8,343 10,510
WATERS CORP 19,787 21,071
WEST PHARMACEUTICAL SVCS INC COM 9,051 9,859
WILLIAMS SONOMA INC 13,371 18,766
XCEL ENERGY INC 44,279 41,418
ZEBRA TECHNOLOGIES CORP - CL A 11,369 10,387
APPLIED INDUSTRIAL TECHNOLOGIES INC 9,576 14,679
CABLE ONE INC 12,186 6,679
CACTUS INC CLASS A COMMON STOCK 12,358 11,123
CARTER'S INC 9,217 8,388
CAVCO INDS INC DEL 4,729 6,586
CHOICE HOTELS INTERNATIONAL INC 13,750 12,463
COHEN & STEERS INC 6,587 6,740
COLUMBIA SPORTSWEAR CO 10,395 9,942
COMMERCE BANCSHARES INC 7,033 6,089
CORE LABORATORIES INC COMMON STOCK 8,606 6,110
DONALDSON CO INC 13,221 14,769
EXLSERVICE HOLDINGS INC 14,460 14,839
FLOWERS FOODS INC 13,907 12,988
HELMERICH & PAYNE INC 10,702 10,504
IDACORP INC 6,272 5,899
INTERNATIONAL BANCSHARES CORP TEX 8,647 8,908
JONES LANG LASALLE INC 15,006 15,298
MIDDLEBY CORP 8,332 7,653
ONE GAS INC COM 8,954 7,455
PROGRESS SOFTWARE CORPORATION 10,330 11,403
QUALYS INC COM 10,697 16,880
SEI INVESTMENTS CO 15,246 16,332
SELECTIVE INSURANCE GROUP INC 11,044 11,341
SILGAN HOLDINGS INC COMMON STOCK 7,601 6,561
TEXAS ROADHOUSE INC 7,058 9,045
UMB FINANCIAL CORP 8,657 8,021

TY 2023 InvestmentsGovtObligationsSch
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
US Government Securities - End of Year Book Value:

3,707,081
US Government Securities - End of Year Fair Market Value:

3,794,451
State & Local Government Securities - End of Year Book Value:


1,635,229
State & Local Government Securities - End of Year Fair Market Value:


1,656,041


TY 2023 InvestmentsOtherSchedule2
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
PE PREMIER BLKSTONE GROWTH AT COST 166,101 166,101
PE PREMIER BLKSTONE GROWTH CPV AT COST 2,875 2,875
BLACKSTONE BCRED AT COST 500,000 486,502
BREIT CL I AT COST 1,000,000 1,264,842
ALEXANDRIA REAL ESTATE EQUITIES INC AT COST 1,485 1,141
AMERICAN TOWER CORPORATION REIT AT COST 16,320 14,680
AVALONBAY COMMUNITIES INC AT COST 1,908 1,872
CAMDEN PROPERTY TRUST - SBI AT COST 5,594 5,362
CUBESMART AT COST 9,400 9,826
LAMAR ADVERTISING COMPANY CL A AT COST 10,117 10,522
PHYSICIANS REALTY TRUST AT COST 9,724 7,746
PROLOGIS INC AT COST 3,463 3,732
STAG INDUSTRIAL INC AT COST 7,891 9,540
VENTAS INC AT COST 1,432 1,396

TY 2023 LegalFeesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL 6,054 0 0 6,054


TY 2023 OtherDecreasesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Description Amount
BOOK TO TAX ADJUSTMENTS 105,379


TY 2023 OtherExpensesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EQUIPMENT/FURNITURE PURCHASE 15,267 0 0 15,267
OFFICE SUPPLIES 6,205 0 0 6,205
PROPERTY INSURANCE 63,049 0 0 63,049
PROPERTY MAINTENANCE 233,924 0 212,076 21,848
INFORMATION TECHNOLOGY 33,306 0 0 33,306
MISCELLANEOUS 9,714 0 0 9,714
ANIMAL CARE 65,083 0 65,083 0
LAND MANAGEMENT SUPPLIES 54,134 0 54,134 0
MARKETING & SIGNAGE 13,108 0 0 13,108
DETERMINATION FILING FEE 550 0 0 550


TY 2023 OtherIncomeSchedule2
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PROGRAM EVENT INCOME 11,927   11,927
TAX OVERPAYMENT 165   0
OTHER REVENUE 894   894
GROSS INCOME FROM SPECIAL FUNDRAISING EVENTS 20,371   20,371


TY 2023 OtherProfessionalFeesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT 106,802 106,802 106,802 0
CONSULTANT FEES 10,200 0 0 10,200
MARKETING CONSULTANT 50,000 0 0 50,000


TY 2023 TaxesSchedule
Name:
HORST RECHELBACHER FOUNDATION
EIN:
41-1956679
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PROPERTY TAXES 12,772 0 12,772 0