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
ZAFIROVSKI FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO PASQUESI SHEPPARD 585 BANK LAN
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LAKE FOREST, IL60045
A Employer identification number

20-3610677
B Telephone number (see instructions)

(847) 234-5000
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$4,392,695J 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) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments 8 8  
4 Dividends and interest from securities... 82,486 82,486  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 144,517
b Gross sales price for all assets on line 6a 1,352,288
7 Capital gain net income (from Part IV, line 2)... 144,517
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
List of Attached Documents:
// Content
559 559  
12 Total. Add lines 1 through 11........ 227,570 227,570  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
12,100 12,100   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
44,450 44,450   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
3,715 3,715   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,024 1,175   40
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 62,289 61,440   40
25 Contributions, gifts, grants paid....... 165,750 165,750
26 Total expenses and disbursements. Add lines 24 and 25 228,039 61,440   165,790
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -469
b Net investment income (if negative, enter -0-) 166,130
c Adjusted net income (if negative, enter -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............. 8,814 86,463 86,463
2 Savings and temporary cash investments......... 90,018 103,170 103,170
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) 121,585 Click to see attachment
List of Attached Documents:
// Content
126,724 		116,841
b Investments—corporate stock (attach schedule)....... 2,198,595 Click to see attachment
List of Attached Documents:
// Content
2,381,127 		3,415,758
c Investments—corporate bonds (attach schedule).......      
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).......... 1,458,508 Click to see attachment
List of Attached Documents:
// Content
1,179,567 		670,463
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,877,520 3,877,051 4,392,695
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........ 3,877,520 3,877,051
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)..... 3,877,520 3,877,051
30 Total liabilities and net assets/fund balances (see instructions). 3,877,520 3,877,051
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
3,877,520
2
Enter amount from Part I, line 27a .....................
2
-469
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
3,877,051
5
Decreases not included in line 2 (itemize) right arrow
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
3,877,051
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 P    
b CAPITAL GAINS DIVIDENDS P    
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 1,352,080   1,207,771 144,309
b 208     208
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       144,309
b       208
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 2 144,517
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  
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 2,309
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 2,309
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 2,309
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 7,750
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,750
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 5,441
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow5,441 Refundedright arrow 11 0
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 arrowIL
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
 
No
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 arrowPASQUESI SHEPPARD Telephone no.right arrow (847) 234-5000

Located atright arrow585 BANK LANELAKE FORESTIL ZIP+4right arrow60045
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)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
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
MIKE S ZAFIROVSKI PRESIDENT AND DIRECTOR
1.00 		0 0 0
C/O PASQUESI SHEPPARD LLC 585 BANK
LANE
LAKE FOREST,IL60045
ROBIN G ZAFIROVSKI SECRETARY, TREASURER, DIRECTOR
1.00 		0 0 0
C/O PASQUESI SHEPPARD LLC 585 BANK
LANE
LAKE FOREST,IL60045
MATTHEW D ZAFIROVSKI VICE PRESIDENT, DIRECTOR
1.00 		0 0 0
C/O PASQUESI SHEPPARD LLC 585 BANK
LANE
LAKE FOREST,IL60045
KIRK M ZAFIROVSKI VICE PRESIDENT, DIRECTOR
1.00 		0 0 0
C/O PASQUESI SHEPPARD LLC 585 BANK
LANE
LAKE FOREST,IL60045
TODD A ZAFIROVSKI VICE PRESIDENT
1.00 		0 0 0
C/O PASQUESI SHEPPARD LLC 585 BANK
LANE
LAKE FOREST,IL60045
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................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
NONE
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  
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
3,939,746
b
Average of monthly cash balances.......................
1b
185,587
c
Fair market value of all other assets (see instructions)................
1c
12,230
d
Total (add lines 1a, b, and c).........................
1d
4,137,563
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
4,137,563
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
62,063
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
4,075,500
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
203,775
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
203,775
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
2,309
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
2,309
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
201,466
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
201,466
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
201,466
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
165,790
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
165,790
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 7 201,466
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...... 62,020
b From 2019...... 202,818
c From 2020...... 293,411
d From 2021...... 183,788
e From 2022...... 160,538
f Total of lines 3a through e ........ 902,575
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 165,790
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..... 165,790
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 35,676 35,676
(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 5 866,899
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) ... 		26,344
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		840,555
10 Analysis of line 9:
a Excess from 2019.... 202,818
b Excess from 2020.... 293,411
c Excess from 2021.... 183,788
d Excess from 2022.... 160,538
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
         
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).)
MIKE S ZAFIROVSKI
ROBIN G ZAFIROVSKI
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

CHURCH OF THE HOLY SPIRIT

400 EAST WESTMINSTER ROAD
LAKE FOREST,IL60045 		NONE PC GENERAL CHARITABLE PURPOSES 60,000

CUP O JOY MINISTRIES INC

525 N TAYLOR STREET
GREEN BAY,WI54303 		NONE PC GENERAL CHARITABLE PURPOSES 2,500

EDINBORO UNIVERSITY

219 MEADVILLE STREET
EDINBORO,PA16444 		NONE PC GENERAL CHARITABLE PURPOSES 50,000

LAKE FOREST ACADEMY

1500 KENNEDY ROAD
LAKE FOREST,IL60045 		NONE PC GENERAL CHARITABLE PURPOSES 750

LURIE CHILDREN'S FOUNDATION

225 E CHICAGO AVENUE
CHICAGO,IL60611 		NONE PC GENERAL CHARITABLE PURPOSES 2,500

SPECIAL OLYMPICS

2600 VIRGINIA AVE NW FL 11
WASHINGTON,DC20037 		NONE PC GENERAL CHARITABLE PURPOSES 50,000
Total .................................right arrow 3a 165,750
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
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 8  
4 Dividends and interest from securities ....     14 82,486  
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 .....     14 559  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 144,517  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 227,570 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
227,570
(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 (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:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREP FEES 12,100 12,100   0

TY 2023 InvestmentsCorpStockSchedule
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Name of Stock End of Year Book Value End of Year Fair Market Value
GE HEALTHCARE TECHNOLOGIES INC (GEHC) 14,232 32,165
GENERAL ELECTRIC CO (GE) 54,046 159,538
ACCENTURE PLC IRELAND CL A (ACN) 6,710 6,647
ALPHABET INC CL A (GOOG) 12,531 21,652
ALPHABET INC CL C (GOOG) 11,451 19,448
AMAZON COM INC (AMZN) 37,468 51,052
ANALOG DEVICES INC (ADI) 5,546 6,906
APPLE INC (AAPL) 31,733 39,469
ASML HOLDING NV NY REG NEW (ASML) 6,954 13,024
ATLASSIAN CORPORATION CL A (TEAM) 5,396 7,432
BOSTON SCIENTIFIC CORP (BSX) 6,354 7,111
BROADCOM INC (AVGO) 16,387 20,990
CHIPOTLE MEXICAN GRILL INC COM (CMG) 5,111 15,313
COSTCO WHOLESALE CORP NEW (COST) 5,151 7,790
DEXCOM INC (DXCM) 6,119 8,320
ELI LILLY & CO (LLY) 8,393 10,315
HILTON WORLDWIDE HLDGS INC (HLT) 4,746 7,830
IDEXX LABS (IDXX) 6,104 8,059
INTUITIVE SURGICAL INC (ISRG) 13,228 16,962
KKR & CO INC CL A (KKR) 8,412 9,279
LAM RESEARCH CORPORATION (LRCX) 7,913 12,785
LINDE PLC (LIN) 3,761 9,458
LULULEMON ATHLETICA INC (LULU) 4,616 7,937
MASTERCARD INC CL A (MA) 3,470 16,112
MC DONALDS CORP (MCD) 7,942 8,721
META PLATFORMS INC CL A (META) 18,755 29,034
MICROSOFT CORP (MSFT) 31,952 79,344
MOODYS CORP (MCO) 2,078 8,202
MSCI INC COM (MSCI) 5,652 9,357
NETFLIX INC (NFLX) 10,572 12,185
NVIDIA CORPORATION (NVDA) 5,750 31,885
O'REILLY AUTOMOTIVE INC NEW (ORLY) 9,342 10,048
PARKER HANNIFIN CORP (PH) 7,701 10,355
SALESFORCE INC (CRM) 13,206 16,459
SCHLUMBERGER LTD (SLB) 6,637 6,609
SERVICENOW INC (NOW) 10,631 17,557
SNOWFLAKE INC CL A (SNOW) 6,520 8,264
STARBUCKS CORP WASHINGTON (SBUX) 3,422 3,172
SYNOPSYS INC (SNPS) 6,328 8,956
TESLA INC (TSLA) 7,729 8,379
THERMO FISHER SCIENTIFIC (TMO) 7,526 7,654
UBER TECHNOLOGIES INC (UBER) 3,765 6,650
UNION PACIFIC CORP (UNP) 8,557 8,722
UNITEDHEALTH GP INC (UNH) 5,627 11,833
VERTEX PHARMACEUTICALS (VRTX) 8,277 10,550
VISA INC CL A (V) 943 11,455
WORKDAY INC CL A (WDAY) 13,258 17,698
ABBVIE INC COM (ABBV) 14,991 15,652
ACCENTURE PLC IRELAND CL A (ACN) 7,675 23,511
AMERICAN EXPRESS CO (AXP) 22,707 25,104
ANALOG DEVICES INC (ADI) 21,346 25,416
AON PLC CL A (AON) 9,728 25,901
CHEVRON CORP (CVX) 15,611 16,258
CHUBB LTD (CB) 12,852 23,278
CITIGROUP INC NEW (C) 13,949 14,197
COMCAST CORP (NEW) CLASS A (CMCSA) 18,876 34,729
CONOCOPHILLIPS (COP) 16,566 33,428
DIAGEO PLC SPON ADR NEW (DEO) 15,172 14,857
DOMINION ENERGY INC (D) 25,239 17,061
DUKE ENERGY CORPORATION (DUK) 22,166 25,036
DUPONT DE NEMOURS INC (DD) 16,724 17,078
EATON CORP PLC SHS (ETN) 3,246 16,442
GENL DYNAMICS CORP (GD) 21,270 24,425
HONEYWELL INTL INC (HON) 9,156 24,117
ILL TOOL WORKS INC (ITW) 7,694 19,646
JOHNSON & JOHNSON (JNJ) 8,286 17,241
JPMORGAN CHASE & CO (JPM) 12,639 39,463
KENVUE INC (KVUE) 19,251 17,870
KKR & CO INC CL A (KKR) 14,558 19,138
KLA CORPORATION (KLAC) 10,213 17,439
LOWES COMPANIES INC (LOW) 17,203 24,258
MARRIOTT INTL INC NEW CL A (MAR) 9,134 13,693
MARSH & MCLENNAN COS INC (MMC) 9,794 20,463
MCKESSON CORP (MCK) 8,633 28,242
MORGAN STANLEY (MS) 19,080 22,567
NASDAQ INC COM (NDAQ) 6,508 17,849
NESTLE SPON ADR REP REG SHR (NSRGY) 13,197 22,244
NORTHROP GRUMMAN CP(HLDG CO) (NOC) 7,233 19,194
NXP SEMICONDUCTORS NV (NXPI) 7,335 12,560
PACCAR INC (PCAR) 9,190 10,644
PEPSICO INC NC (PEP) 11,973 14,732
PFIZER INC (PFE) 36,698 23,665
PIONEER NATURAL RESOURCES CO (PXD) 2,280 6,161
PNC FINL SVCS GP (PNC) 9,964 12,078
PROGRESSIVE CORP OHIO (PGR) 16,488 28,193
PROLOGIS INC COM (PLD) 28,874 32,659
RTX CORPORATION (RTX) 17,206 17,585
SOUTHERN CO (SO) 18,621 23,490
TARGET CORPORATION (TGT) 22,233 21,221
THE CIGNA GROUP (CI) 20,986 35,635
UNION PACIFIC CORP (UNP) 11,301 26,773
ANSYS INC (ANSS) 2,694 10,285
APPFOLIO INC CL A (APPF) 3,404 5,370
ATLASSIAN CORPORATION CL A (TEAM) 1,546 3,006
BIO-TECHNE CORP (TECH) 6,110 11,188
CARMAX INC (KMX) 6,628 7,904
CBRE GROUP INC CL A (CBRE) 9,763 16,942
CHEWY INC CL A (CHWY) 4,590 2,788
COSTAR GROUP INC (CSGP) 1,830 7,149
CROWDSTRIKE HLDGS INC CL A (CRWD) 1,381 2,781
ECOLAB INC (ECL) 10,106 13,686
EDWARD LIFESCIENCES CORP (EW) 6,468 6,546
ENDAVA PLC ADR (DAVA) 5,855 6,306
FASTENAL CO (FAST) 3,358 8,873
FLOOR & DECOR HLDGS INC CL-A (FND) 3,347 4,938
GOOSEHEAD INSURANCE INC CLAS A (GSHD) 3,961 6,746
GUIDEWIRE SOFTWARE INC (GWRE) 8,393 10,070
HEICO CORP CLASS A (HEI'A) 6,463 9,401
ILLUMINA INC (ILMN) 10,082 5,848
INTUITIVE SURGICAL INC (ISRG) 1,352 6,093
KINSALE CAP GROUP INC (KNSL) 4,873 4,892
MARKEL GROUP INC (MKL) 7,636 10,446
MOODYS CORP (MCO) 2,416 8,577
OLD DOMINION FREIGHT LINE (ODFL) 4,285 10,539
REPLIGEN CP (RGEN) 7,112 8,766
SBA COMMUNICATNS CORP NEW CL A (SBAC) 1,329 2,947
SITEONE LANDSCAPE SUPPLY INC (SITE) 4,401 4,618
SPROUT SOCIAL INC CL A (SPT) 6,629 6,451
TRANSDIGM GROUP INC (TDG) 2,326 10,360
TYLER TECHNOLOGIES INC (TYL) 2,805 2,604
UTZ BRANDS INC CL A (UTZ) 5,207 5,522
VEEVA SYS INC CL A (VEEV) 11,166 12,192
VERALTO CORP (VLTO) 9,245 10,365
VULCAN MATERIALS CO (VMC) 7,104 12,940
WASTE CONNECTIONS INC (WCN) 3,481 10,300
WILLSCOT MOBILE MINI HOLDINGS (WSC) 8,998 11,659
WNS HOLDINGS LIMITED (WNS) 10,783 8,785
WORKIVA INC CLASS A (WK) 1,883 2,031
A A R CORPORATION (AIR) 4,687 8,050
ADVANCED ENERGY IND INC (AEIS) 3,635 6,208
ALBANY INTL A NEW (AIN) 3,482 7,170
AMKOR TECHNOLOGY INC (AMKR) 3,506 5,390
ARCHROCK INC (AROC) 1,142 3,650
BOX,INC. CL A (BOX) 5,562 5,455
CABOT CORP (CBT) 4,203 7,849
CASELLA WASTE SYS INC CL A (CWST) 3,328 9,572
CHEESE CAKE FACTORY INC (CAKE) 6,194 6,547
CONMED CORP (CNMD) 6,717 7,941
COPT DEFENSE PROPERTIES SH BEN (CDP) 5,069 4,716
CORE LABORATORIES INC (CLB) 6,829 3,461
CRACKER BARREL OLD CTRY STORE (CBRL) 7,141 4,625
CTS CORPORATION (CTS) 4,567 5,118
DARLING INGREDIENTS INC (DAR) 2,387 6,629
DIODES INC (DIOD) 4,133 5,234
DMC GLOBAL INC (BOOM) 3,680 1,167
ENERSYS (ENS) 3,427 7,067
ENTEGRIS INC (ENTG) 441 5,272
ENTERPRISE FINCL SVCS CORP (EFSC) 5,904 5,849
ENVESTNET INC (ENV) 6,302 4,902
FIRST MERCHANTS CORP (FRME) 6,370 6,600
FIRSTCASH HLDGS INC (FCFS) 2,531 7,371
FLOWSERVE CORP (FLS) 5,480 8,244
FORMFACTOR INC (FORM) 4,990 9,260
FOUR CORNERS PPTY TR INC (FCPT) 3,741 3,694
FRANKLIN ELECTRIC CO (FELE) 4,229 10,052
GATX CORP (GATX) 3,568 7,213
HEARTLAND FIN USA INC (HTLF) 6,530 4,889
HELEN OF TROY (HELE) 4,157 4,712
HELMERICH & PAYNE (HP) 4,189 4,745
HEXCEL CORP NEW (HXL) 4,684 9,440
HORACE MANN EDUCATORS CP (HMN) 2,958 2,845
HOULIHAN LOKEY INC CL A (HLI) 5,836 13,070
INTEGER HOLDINGS CORP (ITGR) 5,817 7,926
LITTELFUSE INC (LFUS) 2,953 6,957
MERITAGE HOME CORPORATION (MTH) 1,577 7,491
METHODE ELEC INC (MEI) 5,011 2,409
MOOG INC CL A (MOG'A) 3,210 7,636
OCEANEERING INTL INC (OII) 5,555 6,405
PARSONS CORP (PSN) 6,755 10,410
PEBBLEBROOK HOTEL TR COM (PEB) 4,133 3,020
PEDIATRIX MEDICAL GROUP INC (MD) 7,953 3,134
PLEXUS CORP (PLXS) 4,013 5,839
REINSURANCE GROUP OF AMERICA (RGA) 4,221 8,089
RYDER SYSTEMS INC (R) 1,557 5,408
SABRE CORP COM (SABR) 6,838 3,524
SOUTHSTATE CORPORATION (SSB) 6,759 8,023
SPX TECHNOLOGIES INC (SPXC) 4,292 8,283
STAG INDL INC COM (STAG) 5,569 7,185
STIFEL FINANCIAL CORPORATION (SF) 2,648 5,463
THE SCOTTS MIRACLE-GRO COMPANY (SMG) 5,319 6,248
TIMKEN CO (TKR) 1,630 5,049
TRINET GROUP INC (TNET) 2,815 4,124
TRUSTMARK CP (TRMK) 6,030 6,385
UNITED BANKSHARES INC W VA (UBSI) 5,666 6,872
UNITED COMMUNITY BANKS INC (UCBI) 7,588 7,052
UNITED FIRE GROUP INC (UFCS) 1,750 1,469
WOLVERINE WORLD WIDE (WWW) 5,948 2,018
AIA GROUP LTD SPON ADR (AAGIY) 6,544 5,926
AIR LIQUIDE ADR (AIQUY) 5,281 6,342
AMADEUS IT GROUP S.A ADR (AMADY) 3,068 4,387
ARKEMA SPONS ADR (ARKAY) 4,413 3,727
ASHTEAD GROUP PLC ADR (ASHTY) 4,645 6,167
ASML HOLDING NV NY REG NEW (ASML) 2,760 6,494
BAE SYS PLC SPON ADR (BAESY) 3,554 3,854
BROADCOM INC (AVGO) 687 9,612
CAPGEMINI S E UNSPONSORED ADR (CGEMY) 5,322 5,671
CGI INC CL A SUB VTG (GIB) 3,648 8,117
CHINA MENGNIU DAIRY CO LTD ADR (CIADY) 4,929 3,200
CHINA RES BEER HLDG CO LTD ADR (CRHKY) 5,134 3,416
COMPAGNIE FIN RICHEMONTAG ADR (CFRUY) 4,575 5,171
CRH PLC (CRH) 3,152 5,079
CSL LTD (CSLLY) 1,994 3,845
DEUTSCHE BOERSE AG UNSPON ADR (DBOEY) 2,961 5,336
FANUC CORPORATION UNSP ADR (FANUY) 6,944 6,648
FLUTTER ENTMT PLC ADR (PDYPY) 2,280 4,462
HALEON PLC ADR (HLN) 5,324 5,547
HDFC BANK LTD ADR (HDB) 6,111 8,523
HEINEKEN NV SPN ADR (HEINY) 6,231 6,297
HOYA CORP SPONS ADR (HOCPY) 2,393 4,501
ICON PLC (ICLR) 6,057 9,073
KINGSPAN GROUP PLC UNSPON ADR (KGSPY) 3,116 3,464
KOMATSU LTD SPON ADR NEW (KMTUY) 1,417 2,123
LINDE PLC (LIN) 4,117 6,706
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 4,940 7,942
MAGNA INTERNATIONAL INC (MGA) 4,119 2,985
MERCADOLIBRE INC (MELI) 2,260 3,484
NESTLE SPON ADR REP REG SHR (NSRGY) 7,462 7,601
NOVO NORDISK A/S ADR (NVO) 2,579 8,055
PERNOD RICARD SA ADR (PRNDY) 2,838 3,671
PUBLICIS GROUPE SA ADR (PUBGY) 4,174 4,872
RB GLOBAL INC (RBA) 3,559 4,125
RECKITT BENCKISER PLC SPNS ADR (RBGLY) 5,848 4,837
RELX PLC SPONSORED ADR (RELX) 7,390 9,399
ROYAL BANK OF CANADA (RY) 2,571 3,288
SANDVIK AB SPONS ADR (SDVKY) 3,731 4,220
SCHNEIDER ELEC SA UNSP ADR (SBGSY) 2,134 7,912
SHELL PLC ADR (SHEL) 4,474 5,320
SHIMANO INC ADR (SMNNY) 4,916 4,553
SMC CORP JAPAN SPONSORED ADR (SMCAY) 2,783 3,412
SONY GROUP CORPORATION ADR (SONY) 4,450 5,743
STMICROELECTRONICS NV (STM) 2,848 3,395
SVENSKA HANDELSBANKEN AB ADR (SVNLY) 4,512 5,435
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 3,418 8,327
TECHTRONIC IND LTD SPONS ADR (TTNDY) 7,013 7,329
TOKYO ELECTRON LTD UNSPON ADR (TOELY) 3,793 6,977
TOTALENERGIES SE SPONSORED ADS (TTE) 4,251 5,458
UTD OVERSEAS BK LTD SPON ADR (UOVEY) 2,359 3,379
WAL-MART DE MEXICO SA SPON ADR (WMMVY) 7,666 10,961
WOLTERS KLUWER NV SPON ADR (WTKWY) 1,860 7,036
YUM CHINA HLDNGS (YUMC) 3,192 3,712
ABB LTD ADR (ABBNY) 4,866 11,833
ADVANTEST CORP NEW (ATEYY) 6,177 7,043
AIA GROUP LTD SPON ADR (AAGIY) 17,094 16,035
AIR LIQUIDE ADR (AIQUY) 9,676 13,891
AIRBUS SE UNSPONSORED ADR (EADSY) 9,628 13,202
AKZO NOBEL NV ADR (AKZOY) 12,745 10,304
AON PLC CL A (AON) 4,253 13,883
ASICS CORP ADR (ASCCY) 4,277 7,490
ASM INTERNATIONAL NV (ASMIY) 9,192 13,362
ASML HOLDING NV NY REG NEW (ASML) 6,249 8,061
BANDAI NAMCO HLDGS INC ADR (NCBDY) 7,073 5,624
BP PLC ADS (BP) 13,009 17,134
BUREAU VERITAS SA ADR (BVVBY) 13,222 10,914
CAPGEMINI S E UNSPONSORED ADR (CGEMY) 8,050 9,174
CARLSBERG AS (CABGY) 4,413 6,952
CHUBB LTD (CB) 9,650 9,891
COCA-COLA EUROPACIFIC PARTNERS (CCEP) 7,665 9,005
COMPAGNIE FIN RICHEMONTAG ADR (CFRUY) 10,707 10,934
COMPASS GROUP PLC SPD ADR (CMPGY) 12,645 16,524
CONTL AG SPONS ADR (CTTAY) 12,471 11,709
COVESTRO AG SPONSORED ADR (COVTY) 6,543 7,856
DAIKIN INDS LTD UNSPON ADR (DKILY) 11,718 9,717
DAIWA HOUSE IND LTD ADR (DWAHY) 5,569 9,091
DBS GROUP HOLDINGS LTD SP (DBSDY) 3,663 6,924
DISCO CORP ADR (DSCSY) 4,142 10,495
ENGIE SPONS ADR (ENGIY) 17,767 22,666
EXPERIAN GP LTD ADR (EXPGY) 5,887 5,837
FANUC CORPORATION UNSP ADR (FANUY) 8,315 8,634
GILDAN ACTIVEWEAR INC (GIL) 6,662 6,083
HALMA PLC UNSPON ADR (HALMY) 5,201 6,231
HOYA CORP SPONS ADR (HOCPY) 10,227 11,658
HSBC HOLDINGS PLC SPON ADR NEW (HSBC) 11,642 15,405
ICON PLC (ICLR) 10,011 12,979
IMCD GROUP N V ADR (IMCDY) 6,067 7,287
ING GROEP NV ADR (ING) 9,921 11,550
KBC GROUP NV UNSPONS ADR (KBCSY) 8,766 8,595
LEGRAND SA (LGRDY) 11,259 11,185
LONDON STK EXCHANGE GROUP ADR (LNSTY) 8,359 9,458
MERCK KGAA SPD ADR (MKKGY) 8,755 9,392
MTU AERO ENGINES AG (MTUAY) 5,313 5,632
NOMURA RESH INST LTD ADR (NRILY) 10,496 11,141
NOVO NORDISK A/S ADR (NVO) 19,178 23,587
PERNOD RICARD SA ADR (PRNDY) 9,709 9,812
RECRUIT HOLDINGS CO. LTD. ADR (RCRUY) 5,203 6,767
RELX PLC SPONSORED ADR (RELX) 11,717 24,391
RENESAS ELECTRONICS CORP ADR (RNECY) 6,830 9,212
ROCHE HOLDINGS ADR (RHHBY) 25,227 19,347
RYANAIR HLDGS PLC ADR (RYAAY) 10,331 16,937
SAMPO OYJ UNSPON ADR (SAXPY) 8,727 11,158
SANDVIK AB SPONS ADR (SDVKY) 8,067 8,808
SAP AG (SAP) 10,277 11,309
SHIN ETSU CHEM CO LTD ADR (SHECY) 10,484 10,870
SIEMENS HEALTHINEERS AG ADR (SMMNY) 6,795 8,512
SUNCOR ENERGY INC (SU) 7,302 9,740
SUZUKI MTR CORP ADR (SZKMY) 9,703 8,387
THALES USDPONSORD ADR (THLLY) 11,078 12,696
UNILEVER PLC (NEW) ADS (UL) 12,791 14,253
UNIVERSAL MUSIC GROUP NV ADR (UNVGY) 6,771 9,038
VONOVIA SE ADR (VONOY) 12,396 9,347
ZOZO INC ADR (SRTTY) 6,428 5,959
HENKEL KGAA PFD SHARS SPON ADR (HENOY) 6,907 7,515

TY 2023 InvestmentsGovtObligationsSch
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
US Government Securities - End of Year Book Value:

126,724
US Government Securities - End of Year Fair Market Value:

116,841
State & Local Government Securities - End of Year Book Value:


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


0


TY 2023 InvestmentsOtherSchedule2
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
FIRST TR MLP&ENRG INC FND (FEI) AT COST 179,417 123,965
ARTISAN DEVELOPING WORLD ADV (APDYX) AT COST 623,980 421,844
PIMCO FIX INC SHRS: SERIES C (FXICX) AT COST 74,345 56,046
PIMCO FIX INC SHRS: SERIES M (FXIMX) AT COST 68,510 56,258
GSO MEZZANINE FINANCE AT COST 233,315 12,350

TY 2023 OtherExpensesSchedule
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
IL CHARITY BUREAU FEE 30 0   30
IL SECRETARY OF STATE 10 0   10
ADR FEES 1,146 1,146   0
CLASS ACTION VENDOR FEE 29 29   0
MISCELLANEOUS 809 0   0


TY 2023 OtherIncomeSchedule2
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MORGAN STANLEY 559 559 559


TY 2023 OtherProfessionalFeesSchedule
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 44,450 44,450   0


TY 2023 TaxesSchedule
Name:
ZAFIROVSKI FAMILY FOUNDATION
EIN:
20-3610677
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES PAID 3,715 3,715   0
EXCISE TAXES PAID 0 0   0