THE KARLA SCHERER FOUNDATION: Form 990PF, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: THE KARLA SCHERER FOUNDATION (EIN 38-2877392)
Tax period: 2018-01-01 to 2018-12-31
Filed: 2019-05-16
IRS object ID: 201911369349100506
Schema version: 2018v3.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990-PF
Accounting Fees Schedule
Depreciation Schedule
Investments Corp Bonds Schedule
Investments Corp Stock Schedule
Investments Other Schedule2
Land Etc Schedule2
Other Assets Schedule
Other Decreases Schedule
Other Expenses Schedule
Other Income Schedule2
Reasonable Cause Explanation
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-05-16T09:11:05-05:00	ReturnTs
Tax Period End	2018-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	383635706	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	REHMANN ROBSON LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	902 S HURON PO BOX 250	AddressLine1Txt
City	CHEBOYGAN	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	49721	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2018-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	382877392	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	THE KARLA SCHERER FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	KARL	BusinessNameControlTxt
Phone	3129439191	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	737 N MICHIGAN AVE NO 2330	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60611	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	KARLA SCHERER	PersonNm
Person Title	OFFICER	PersonTitleTxt
Phone	3129439191	PhoneNum
Signature	2019-05-15	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	DEBRA C KITELEY	PreparerPersonNm
PTIN	P00188333	PTIN
Phone	2316273143	PhoneNum
Preparation	2019-05-15	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	71.81.96.82	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2019-05-15	IPDt
IP Tm	14:42:54	IPTm
IP Timezone	ED	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	DA39A3EE5E6B4B0D3255BFEF95601890AFD80709	AtSubmissionCreationDeviceId
At Submission Filing Device Id	C4118716D98C8C57520B8517CD221D1EE8F371A4	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2019-02-21 02:37:17Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$5,194,708	FMVAssetsEOYAmt
Method Of Accounting Cash	Yes (X)	MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Field	Value	IRS element (for citing)
Schedule B Not Required	Yes (X)	ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss	$49	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$49	InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss	$288,067	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$288,067	DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss	$14,634	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$292,839	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$14,634	CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss	-$14,567	OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm	-$14,567	OtherIncomeNetInvstIncmAmt
Total Rev And Expnss	$288,183	TotalRevAndExpnssAmt
Total Net Invst Incm	$288,183	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$0	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$0	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$0	CompOfcrDirTrstDsbrsChrtblAmt
Accounting Fees Rev And Expnss	$9,950	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$4,975	AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps	$4,975	AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss	$1,781	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$1,781	TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Deprec And Dpltn Rev And Expnss	$1,087	DeprecAndDpltnRevAndExpnssAmt
Deprec And Dpltn Net Invst Incm	$0	DeprecAndDpltnNetInvstIncmAmt
Occupancy Rev And Expnss	$65,175	OccupancyRevAndExpnssAmt
Occupancy Net Invst Incm	$16,294	OccupancyNetInvstIncmAmt
Occupancy Dsbrs Chrtbl	$48,881	OccupancyDsbrsChrtblAmt
Other Expenses Rev And Expnss	$8,607	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$1,579	OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl	$7,029	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$86,600	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$24,629	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$60,885	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$186,831	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$186,831	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$273,431	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$24,629	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$247,716	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$14,752	ExcessRevenueOverExpensesAmt
Net Investment Income	$263,554	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$230,559	CashBOYAmt
Cash EOY	$183,395	CashEOYAmt
Cash EOYFMV	$183,395	CashEOYFMVAmt
Sav And Temp Cash Invst BOY	$205,883	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$321,333	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$321,333	SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY	$4,533,117	CorporateStockBOYAmt
Corporate Stock EOY	$4,351,556	CorporateStockEOYAmt
Corporate Stock EOYFMV	$4,351,556	CorporateStockEOYFMVAmt
Corporate Bonds BOY	$200,817	CorporateBondsBOYAmt
Corporate Bonds EOY	$195,847	CorporateBondsEOYAmt
Corporate Bonds EOYFMV	$195,847	CorporateBondsEOYFMVAmt
Other Investments BOY	$121,384	OtherInvestmentsBOYAmt
Other Investments EOY	$121,173	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$121,173	OtherInvestmentsEOYFMVAmt
Land Bldg Equip Cost Or Other Bss	$132,127	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$115,273	LandBldgEquipAccumDeprecAmt
Land BOY	$17,941	LandBOYAmt
Land EOY	$16,854	LandEOYAmt
Land EOYFMV	$16,854	LandEOYFMVAmt
Other Assets BOY	$4,550	OtherAssetsBOYAmt
Other Assets EOY	$4,550	OtherAssetsEOYAmt
Other Assets EOYFMV	$4,550	OtherAssetsEOYFMVAmt
Total Assets BOY	$5,314,251	TotalAssetsBOYAmt
Total Assets EOY	$5,194,708	TotalAssetsEOYAmt
Total Assets EOYFMV	$5,194,708	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind
Unrestricted BOY	$5,314,251	UnrestrictedBOYAmt
Unrestricted EOY	$5,194,708	UnrestrictedEOYAmt
Tot Net Ast Or Fund Balances BOY	$5,314,251	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$5,194,708	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$5,314,251	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$5,194,708	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$5,314,251	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$14,752	ExcessRevenueOverExpensesAmt
Other Increases	$0	OtherIncreasesAmt
Subtotal	$5,329,003	SubtotalAmt
Other Decreases	$134,295	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$5,194,708	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (11 entries)

PropertyPropertyDesc	How AcquiredHowAcquiredCd	AcquiredAcquiredDt	SoldSoldDt	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
FORD MTR CO	P	2011-06-01	2018-06-26	$34,380	$44,667	-$10,287	-$10,287
GGP INC COM	P	2011-01-27	2018-08-30	$50	$2,291	-$2,241	-$2,241
CIGNA CORP	P	2003-08-25	2018-12-26	$73	$9	$64	$64
EXPRESS SCRIPTS	P	2003-08-25	2018-12-24	$48,750	$41	$48,709	$48,709
GGP INC COM	P	1994-05-06	2018-08-30	$1,872	$29,238	-$27,366	-$27,366
GGP INC COM	P	2010-01-28	2018-08-30	$27	$735	-$708	-$708
CAPITAL GAINS DISTRIBUTION	P			$7,687		$7,687	$7,687
JPM #5007	P	2018-04-10	2018-04-10	$100,000	$101,058	-$1,058	-$1,058
JPM #5007	P	2013-11-15	2018-11-20	$100,000	$101,404	-$1,404	-$1,404
FROM K-1 KKR ST GAIN	P					-$86	-$86
FROM K-1 KKR LT GAIN	P					$1,324	$1,324

Field	Value	IRS element (for citing)
Capital Gain Net Income	$14,634	CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	0	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$227,225	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1	$4,948,670	NetVlNoncharitableAssetsYr1Amt
Distribution Yr1	0.045916	DistributionYr1Rt
Adjusted Qlfy Distri Yr2	$256,572	AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2	$4,913,220	NetVlNoncharitableAssetsYr2Amt
Distribution Yr2	0.052221	DistributionYr2Rt
Adjusted Qlfy Distri Yr3	$223,729	AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3	$5,227,461	NetVlNoncharitableAssetsYr3Amt
Distribution Yr3	0.042799	DistributionYr3Rt
Adjusted Qlfy Distri Yr4	$170,056	AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4	$5,435,520	NetVlNoncharitableAssetsYr4Amt
Distribution Yr4	0.031286	DistributionYr4Rt
Adjusted Qlfy Distri Yr5	$117,303	AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5	$5,097,183	NetVlNoncharitableAssetsYr5Amt
Distribution Yr5	0.023013	DistributionYr5Rt
Total Distribution	0.195235	TotalDistributionRt
Average Distribution	0.039047	AverageDistributionRt
Net Vl Noncharitable Assets	$5,214,863	NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets	$203,625	AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct	$2,636	NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct	$206,261	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$247,716	QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Domestic Org Meeting Sect4940e	Yes (X)	DomesticOrgMeetingSect4940eInd
Investment Income Excise Tax	$2,636	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$2,636	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$2,636	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$1,705	EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid	$0	ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld	$0	BackupWithholdingWithheldAmt
Total Payments And Credits	$1,705	TotalPaymentsAndCreditsAmt
Es Penalty	$0	EsPenaltyAmt
Tax Due	$931	TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

Field	Value	IRS element (for citing)
Legislative Political Acty	0	LegislativePoliticalActyInd
More Than100 Spent	0	MoreThan100SpentInd
Form1120 POL Filed	0	Form1120POLFiledInd
Section4955 Organization Tax	$0	Section4955OrganizationTaxAmt
Section4955 Managers Tax	$0	Section4955ManagersTaxAmt
Tax Reimbursed	$0	TaxReimbursedAmt
Activities Not Previously Rpt	0	ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws	0	ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Organization Dissolved Etc	0	OrganizationDissolvedEtcInd
Section508e Rqr Satisfied	Yes (1)	Section508eRqrSatisfiedInd
At Least5000 In Assets	Yes (1)	AtLeast5000InAssetsInd
Org Report Or Register State	MI	OrgReportOrRegisterStateCd
Org Report Or Register State	IL	OrgReportOrRegisterStateCd
Form990 PF Filed With Atty Gen	Yes (1)	Form990PFFiledWithAttyGenInd
Private Operating Foundation	0	PrivateOperatingFoundationInd
New Substantial Contributors	0	NewSubstantialContributorsInd
Own Controlled Entity	0	OwnControlledEntityInd
Donor Advised Fund	0	DonorAdvisedFundInd
Comply With Public Insp Rqr	Yes (1)	ComplyWithPublicInspRqrInd
Website Address	N/A	WebsiteAddressTxt
Individual With Books	KARLA SCHERER	IndividualWithBooksNm
Phone	3129439191	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	737 NORTH MICHIGAN AVE STE NO 2330	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60611	ZIPCd

Field	Value	IRS element (for citing)
Foreign Accounts Question	0	ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Field	Value	IRS element (for citing)
Sale Or Exch Disqualified Prsn	0	SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn	0	BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn	0	FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn	0	PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn	0	TransferAstDisqualifiedPrsnInd
Payment To Government Official	0	PaymentToGovernmentOfficialInd
Uncorrected Prior Acts	0	UncorrectedPriorActsInd
Undistributed Income PY	0	UndistributedIncomePYInd
Business Holdings	0	BusinessHoldingsInd
Jeopardy Investments	0	JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst	0	UncorrectedPYJeopardyInvstInd
Influence Legislation	0	InfluenceLegislationInd
Influence Election	0	InfluenceElectionInd
Grants To Individuals	0	GrantsToIndividualsInd
Grants To Organizations	0	GrantsToOrganizationsInd
Noncharitable Purpose	0	NoncharitablePurposeInd
Transactions Fail To Qlfy As Exc	0	TransactionsFailToQlfyAsExcInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1Txt	Address Line2USAddress/AddressLine2Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	TitleTitleTxt	Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt	CompensationCompensationAmt	Employee Benefit ProgramEmployeeBenefitProgramAmt	Expense Account Other AllwncExpenseAccountOtherAllwncAmt
KARLA SCHERER
737 NORTH MICHIGAN AVENUE SUITE	2330	CHICAGO	IL	60611	CHRM-BD, CEO & TRUSTEE	20.00	$0	$0	$0
HADLEY KIMBERLIN
PO BOX 321028		ALEXANDRIA	VA	22320	TREASURER	2.00	$0	$0	$0
AMANDA MCKENZIE
737 NORTH MICHIGAN AVENUE SUITE	2330	CHICAGO	IL	60611	SECRETARY	1.00	$0	$0	$0

Field	Value	IRS element (for citing)
Comp Of Hghst Pd Empl Or NONE	NONE	CompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k	0	OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONE	NONE	CompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k	0	ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Field	Value	IRS element (for citing)
Description1	N/A	Description1Txt
Expenses1	$0	Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

Field	Value	IRS element (for citing)
Average Monthly FMV Of Sec	$4,806,875	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$465,454	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$21,948	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$5,294,277	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$5,294,277	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$79,414	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$5,214,863	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$260,743	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$260,743	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$2,636	TaxBasedOnInvestmentIncomeAmt
Total Tax	$2,636	TotalTaxAmt
Distributable Before Adj	$258,107	DistributableBeforeAdjAmt
Recoveries Qualfied Distri	$0	RecoveriesQualfiedDistriAmt
Distributable Before Ded	$258,107	DistributableBeforeDedAmt
Deduction From Distributable	$0	DeductionFromDistributableAmt
Distributable As Adjusted	$258,107	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$247,716	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$247,716	QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm	$2,636	PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri	$245,080	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$258,107	DistributableAsAdjustedAmt
Undistributed Income PY	$186,733	UndistributedIncomePYAmt
Total For Prior Years	$0	TotalForPriorYearsAmt
Total Excess Distribution Cyov	$0	TotalExcessDistributionCyovAmt
Qualifying Distributions	$247,716	QualifyingDistributionsAmt
Applied To Year1	$186,733	AppliedToYear1Amt
Applied To Prior Years	$0	AppliedToPriorYearsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$60,983	AppliedToCurrentYearAmt
Remaining Distri From Corpus	$0	RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus	$0	ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY	$0	ExcessDistributionCyovAppCYAmt
Total Corpus	$0	TotalCorpusAmt
Prior Year Undistributed Incm	$0	PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax	$0	PriorYearDeficiencyOrTaxAmt
Taxable1	$0	Taxable1Amt
Taxable2	$0	Taxable2Amt
Undistributed Income CY	$197,124	UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3	$0	CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5	$0	ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr	$0	ExcessDistriCyovToNextYrAmt

Supplementary Information SupplementaryInformationGrp

Field	Value	IRS element (for citing)
Contributing Manager	KARLA SCHERER	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

Field	Value	IRS element (for citing)
Recipient Person	KARLA SCHERER	RecipientPersonNm

Recipient US Address RecipientUSAddress

Field	Value	IRS element (for citing)
Address Line1	737 NORTH MICHIGAN AVENUE SUITE	AddressLine1Txt
Address Line2	2330	AddressLine2Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60611	ZIPCd

Field	Value	IRS element (for citing)
Recipient Phone	3129439191	RecipientPhoneNum
Form And Info And Materials	N/A	FormAndInfoAndMaterialsTxt
Submission Deadlines	N/A	SubmissionDeadlinesTxt
Restrictions On Awards	N/A	RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (17 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
ART INSTITUTE OF CHICAGO
111 SOUTH MICHIGAN AVE	CHICAGO	IL	60603	NONE	PC	GENERAL FUND	$5,000
CHICAGO HUMANITIES FESTIVAL
500 N DEARBORN STREET	CHICAGO	IL	60610	NONE	PC	GENERAL FUND	$25,000
FIELD MUSEUM
1400 S LAKE SHORE DRIVE	CHICAGO	IL	60605	NONE	PC	GENERAL FUND	$5,000
HEALTHNETWORK FOUNDATION
33 RIVER STREET	CHAGRIN FALLS	OH	44022	NONE	PC	GENERAL FUND	$5,000
IAMAT
1623 MILITARY RD SUITE 279	NIAGARA FALLS	NY	14304	NONE	PC	GENERAL FUND	$100
ILLINOIS POLICY INSTITUTE
190 SOUTH LASALLE STREET 1500	CHICAGO	IL	60603	NONE	PC	GENERAL FUND	$5,000
INTERNATIONAL HEARING DOG
5901 EAST 89TH AVENUE	HENDERSON	CO	80640	NONE	PC	GENERAL FUND	$1,000
KBACH FRIENDS OF PUBLIC RADIO ARIZONA
2323 W 14TH STREET	TEMPE	AZ	85281	NONE	PC	GENERAL FUND	$1,000
MICHIGAN SUPREME COURT HISTORICAL SOCIETY
925 W OTTAWA STREET	LANSING	MI	48915	NONE	PC	GENERAL FUND	$500
NATIONAL PORTRAIT GALLERY
40 ETTL LN UNIT 20	GREENWICH	CT	06831	NONE	PC	GENERAL FUND	$25,000
NEWBERRY LIBRARY
60 W WALTON STREET	CHICAGO	IL	60610	NONE	PC	GENERAL FUND	$99,231
THE CHICAGO SYMPHONY ORCHESTRA
220 S MICHIGAN AVE	CHICAGO	IL	60604	NONE	PC	GENERAL FUND	$5,000
UNIVERSITY OF CHICAGO
5801 SOUTH ELLIS AVENUE	CHICAGO	IL	60637	NONE	PC	THE KARLA SCHERER CENTER	$5,000
LEUKEMIA LYMPHONA SOCIETY
3 INTERNATIONAL DRIVE SUITE 200	RYE BROOK	NY	10573	NONE	PC	GENERAL FUND	$1,000
LIFELINE THEATRE
6912 N GLENWOOD AVE	CHICAGO	IL	60626	NONE	PC	GENERAL FUND	$500
ACLU
150 N MICHIGAN AVE 600	CHICAGO	IL	60601	NONE	PC	GENERAL FUND	$1,500
PLANNED PARENTHOOD FEDERATION OF AMERICA
1215 W FULTON MARKET	CHICAGO	IL	60607	NONE	PC	GENERAL FUND	$2,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$186,831	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$49	ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$288,067	ExclusionAmt

Other Investment Incm Part VII OtherInvestmentIncmPartVIIGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$524	ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$14,634	ExclusionAmt

Other Revenue Described OtherRevenueDescribedGrp

Field	Value	IRS element (for citing)
Desc	PASS THRU LOSS	Desc
Exclusion	14	ExclusionCd
Exclusion	-$15,091	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$0	UnrelatedBusinessTaxblIncmAmt
Exclusion	$288,183	ExclusionAmt
Related Or Exempt Function Incm	$0	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$288,183	TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Field	Value	IRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO	0	TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO	0	TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets	0	SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO	0	PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets	0	RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements	0	ReimbursementArrangementsInd
Loans Or Loan Guarantees	0	LoansOrLoanGuaranteesInd
Performance Of Services Etc	0	PerformanceOfServicesEtcInd
Sharing Of Facilities Etc	0	SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO	0	RelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Field	Value	IRS element (for citing)
Category	ACCOUNTING FEES	CategoryTxt
Amt	$9,950	Amt
Net Investment Income	$4,975	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$4,975	DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (39 entries)

PropertyPropertyDesc	AcquiredAcquiredDt	Cost Or Other BasisCostOrOtherBasisAmt	Prior Year DepreciationPriorYearDepreciationAmt	Computation MethodComputationMethodTxt	LifeLifeRt	Current Year ExpenseCurrentYearExpenseAmt	Net Investment IncomeNetInvestmentIncomeAmt
FILING CABINETS	1990-03-08	$696	$696	SL	7.000000000000	$0	$0
FILING CABINETS	1990-09-06	$924	$924	SL	7.000000000000	$0	$0
OFFICE EQUIPMENT	1990-05-10	$1,314	$1,314	SL	5.000000000000	$0	$0
CONFERENCE ROOM FURNITURE	1992-09-10	$16,299	$16,299	SL	7.000000000000	$0	$0
OFFICE FURNITURE	1992-08-10	$5,742	$5,742	SL	7.000000000000	$0	$0
CALCULATOR	1992-09-01	$50	$50	SL	7.000000000000	$0	$0
APPLIANCES	1992-08-01	$179	$179	SL	7.000000000000	$0	$0
POSTAGE EQUIPMENT	1992-09-10	$2,090	$2,090	SL	7.000000000000	$0	$0
FILING CABINETS (5 DRAWER)	1993-03-02	$688	$688	SL	7.000000000000	$0	$0
SIGNS	1993-06-03	$2,138	$2,138	SL	7.000000000000	$0	$0
PARSON'S TABLE	1993-12-09	$850	$850	SL	7.000000000000	$0	$0
FILING CABINETS	1995-03-08	$1,149	$1,149	SL	7.000000000000	$0	$0
LEASEHOLD IMPROVEMENTS	1997-05-23	$12,303	$6,486	SL	39.000000000000	$315	$0
AREA RUG	1997-05-23	$8,250	$8,250	SL	7.000000000000	$0	$0
LEASEHOLD IMPROVEMENTS	1997-05-19	$3,067	$1,626	SL	39.000000000000	$79	$0
LEASEHOLD IMPROVEMENTS	1997-05-23	$22,120	$11,671	SL	39.000000000000	$567	$0
FILE CABINETS	1997-06-17	$2,194	$2,194	SL	7.000000000000	$0	$0
SOFA	1997-06-23	$6,140	$6,140	SL	7.000000000000	$0	$0
2 CHAIRS	1997-06-23	$5,430	$5,430	SL	7.000000000000	$0	$0
CREDENZA, 2 BOOK CASES & DESKTOP	1997-07-03	$11,373	$11,373	SL	7.000000000000	$0	$0
HP LASERJET 5 PRINTER	1997-07-08	$1,209	$1,209	SL	5.000000000000	$0	$0
20" TV & VCR	1997-07-10	$500	$500	SL	7.000000000000	$0	$0
3 DESK CHAIRS	1997-10-08	$394	$394	SL	7.000000000000	$0	$0
COMPUTER SERVER	1999-10-09	$839	$839	SL	5.000000000000	$0	$0
BATTERY PACK	1999-03-08	$455	$455	SL	5.000000000000	$0	$0
COMPUTER & CABLE	1999-10-09	$953	$953	SL	5.000000000000	$0	$0
PRINTER & CABLE	1999-10-06	$735	$735	SL	5.000000000000	$0	$0
SCANNER	1999-10-06	$150	$150	SL	5.000000000000	$0	$0
COPIER / FAX MACHINE	2002-02-01	$3,703	$3,703	SL	5.000000000000	$0	$0
MONITOR	2005-05-07	$391	$391	SL	5.000000000000	$0	$0
COMPUTER	2005-06-01	$1,147	$1,147	SL	5.000000000000	$0	$0
PHONE SYSTEM	2007-02-27	$764	$764	SL	7.000000000000	$0	$0
COPIER / FAX MACHINE	2008-02-21	$2,199	$2,199	SL	5.000000000000	$0	$0
COPIER / FAX MACHINE	2008-03-14	$524	$524	SL	5.000000000000	$0	$0
COPIER / FAX MACHINE	2008-04-01	$414	$414	SL	5.000000000000	$0	$0
HP TOUCHSMART 610 COMPUTER	2011-05-05	$12,990	$12,990	SL	5.000000000000	$0	$0
DESK CHAIR	2011-03-21	$1,389	$1,287	SL	7.000000000000	$50	$0
ELECTRIC POSTAGE SCALE	2014-03-29	$131	$104	SL	5.000000000000	$27	$0
SHREDDER	2015-02-24	$244	$139	SL	5.000000000000	$49	$0

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

Field	Value	IRS element (for citing)
Bond	JPM ASSET ACCOUNT - CORPORATE BONDS	BondNm
EOY Book Value	$195,847	EOYBookValueAmt
EOYFMV	$195,847	EOYFMVAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
NORTHERN TRUST SECURITIES #057061 - CORPORATE STOCK	$3,825,499	$3,825,499
JPM ASSET ACCOUNT - CORPORATE STOCK	$526,057	$526,057

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

Field	Value	IRS element (for citing)
Category Or Item	INVESTMENT IN PARTNERSHIPS	CategoryOrItemTxt
Listed At Cost Or FMV	FMV	ListedAtCostOrFMVCd
Book Value	$121,173	BookValueAmt
EOYFMV	$121,173	EOYFMVAmt

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (39 entries)

Category Or ItemCategoryOrItemTxt	Cost Or Other BasisCostOrOtherBasisAmt	Accumulated DepreciationAccumulatedDepreciationAmt	Book ValueBookValueAmt
FILING CABINETS	$696	$696	$0
FILING CABINETS	$924	$924	$0
OFFICE EQUIPMENT	$1,314	$1,314	$0
CONFERENCE ROOM FURNITURE	$16,299	$16,299	$0
OFFICE FURNITURE	$5,742	$5,742	$0
CALCULATOR	$50	$50	$0
APPLIANCES	$179	$179	$0
POSTAGE EQUIPMENT	$2,090	$2,090	$0
FILING CABINETS (5 DRAWER)	$688	$688	$0
SIGNS	$2,138	$2,138	$0
PARSON'S TABLE	$850	$850	$0
FILING CABINETS	$1,149	$1,149	$0
LEASEHOLD IMPROVEMENTS	$12,303	$6,801	$5,502
AREA RUG	$8,250	$8,250	$0
LEASEHOLD IMPROVEMENTS	$3,067	$1,705	$1,362
LEASEHOLD IMPROVEMENTS	$22,120	$12,238	$9,882
FILE CABINETS	$2,194	$2,194	$0
SOFA	$6,140	$6,140	$0
2 CHAIRS	$5,430	$5,430	$0
CREDENZA, 2 BOOK CASES & DESKTOP	$11,373	$11,373	$0
HP LASERJET 5 PRINTER	$1,209	$1,209	$0
20" TV & VCR	$500	$500	$0
3 DESK CHAIRS	$394	$394	$0
COMPUTER SERVER	$839	$839	$0
BATTERY PACK	$455	$455	$0
COMPUTER & CABLE	$953	$953	$0
PRINTER & CABLE	$735	$735	$0
SCANNER	$150	$150	$0
COPIER / FAX MACHINE	$3,703	$3,703	$0
MONITOR	$391	$391	$0
COMPUTER	$1,147	$1,147	$0
PHONE SYSTEM	$764	$764	$0
COPIER / FAX MACHINE	$2,199	$2,199	$0
COPIER / FAX MACHINE	$524	$524	$0
COPIER / FAX MACHINE	$414	$414	$0
HP TOUCHSMART 610 COMPUTER	$12,990	$12,990	$0
DESK CHAIR	$1,389	$1,337	$52
ELECTRIC POSTAGE SCALE	$131	$131	$0
SHREDDER	$244	$188	$56

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Field	Value	IRS element (for citing)
Desc	ARTWORK	Desc
BOY Book Value	$4,550	BOYBookValueAmt
EOY Book Value	$4,550	EOYBookValueAmt
EOYFMV	$4,550	EOYFMVAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

Field	Value	IRS element (for citing)
Desc	NET CHANGE IN UNREALIZED GAIN	Desc
Amt	$134,295	Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (10 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
OFFICE EXPENSE	$958	$240	$719
VOLUNTEER PARKING EXPENSE	$3,348	$0	$3,348
POSTAGE	$184	$0	$184
UTILITIES	$1,172	$293	$879
LICENSES & FEES	$45	$0	$45
TELEPHONE	$1,549	$387	$1,162
INSURANCE	$520	$520	$0
CHARITABLE PLANNING MEETINGS	$276	$0	$276
IT SUPPORT	$160	$40	$120
MISCELLANEOUS	$395	$99	$296

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (4 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Adjusted Net IncomeAdjustedNetIncomeAmt
FROM K-1 - CALUMET SPECIALTY PRODUCTS PARTNERS	-$9	-$9	-$9
FROM K-1 - KKR & CO. L.P.	$980	$980	$980
FROM K-1 BROOKFIELD	-$447	-$447	-$447
PASS THRU LOSS	-$15,091	-$15,091	-$15,091

Reasonable Cause Explanation ReasonableCauseExplanation

Field	Value	IRS element (for citing)
Explanation	LATE FILED RETURN DUE TO CCH SOFTWARE OUTAGE.	ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Field	Value	IRS element (for citing)
Category	FOREIGN TAXES	CategoryTxt
Amt	$1,781	Amt
Net Investment Income	$1,781	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$0	DisbursementsCharitablePrpsAmt

THE KARLA SCHERER FOUNDATION: Form 990PF, tax year 2018

Return header ReturnHeader

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Preparer US Address PreparerUSAddress

Filer Filer

Business Name BusinessName

US Address USAddress

Business Officer BusinessOfficerGrp

Preparer Person PreparerPersonGrp

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Form 990-PF IRS990PF

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (11 entries)

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Statements Regarding Acty StatementsRegardingActyGrp

Location Of Books US Address LocationOfBooksUSAddress

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

Distributable Amount DistributableAmountGrp

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Undistributed Income UndistributedIncomeGrp

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

Recipient US Address RecipientUSAddress

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (17 entries)

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Other Investment Incm Part VII OtherInvestmentIncmPartVIIGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (39 entries)

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (39 entries)

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (10 entries)

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (4 entries)

Reasonable Cause Explanation ReasonableCauseExplanation

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

Comments