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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletGo to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2018
Open to Public
Inspection
Name of the organization
THE CARLE FOUNDATION
 
Employer identification number
37-0673465
Part Ⅰ
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A ILLINOIS FINANCE AUTHORITY
  		86-1091967 45200FVH9 03-18-2009 240,717,712 SEE PART VI   X   X   X
B ILLINOIS FINANCE AUTHORITY
  		86-1091967 45203HBT8 05-19-2011 233,719,141 SEE PART VI   X   X   X
C ILLINOIS FINANCE AUTHORITY
  		86-1091967 000000000 06-16-2011 100,000,000 SEE PART VI   X   X   X
D ILLINOIS FINANCE AUTHORITY
  		86-1091967 45203HZU9 08-08-2014 26,095,000 REFUND PRIOR ISSUE - 03/18/09   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 134,415,000 14,060,000 0 8,355,000
2 Amount of bonds legally defeased .............. 0 0 0 0
3 Total proceeds of issue .................. 240,723,013 234,462,863 100,365,148 26,095,000
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 20,762,837 2,882,629 0
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 2,482,257 0 0 0
8 Credit enhancement from proceeds ............. 543,040 860,364 0 0
9 Working capital expenditures from proceeds ............. 0 3,304,035 2,285,375 0
10 Capital expenditures from proceeds ............. 19,958,620 184,923,346 84,712,629 0
11 Other spent proceeds ............. 217,739,096 24,612,281 10,484,515 26,095,000
12 Other unspent proceeds ............. 0 0 0 0
13 Year of substantial completion ............. 2010 2014 2014 2010
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? .... X   X   X   X  
15 Were the bonds issued as part of an advance refunding issue? .....   X   X   X   X
16 Has the final allocation of proceeds been made? .......... X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X   X  
Part Ⅲ
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   X   X   X   X
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2018
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Schedule K (Form 990) 2018
Page 2
Part Ⅲ
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............   X   X   X   X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?                
c Are there any research agreements that may result in private business use of bond-financed property? ............. X   X   X   X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X   X   X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....SchKMediumBullet 0.001 % 0 % 0 % 0.001 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... SchKMediumBullet 0 % 0 % 0 % 0 %
6 Total of lines 4 and 5 ............. 0.001 % 0 % 0 % 0.001 %
7 Does the bond issue meet the private security or payment test? ...   X   X   X   X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X   X   X   X  
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X   X   X
b Exception to rebate? ........ X   X   X   X  
c No rebate due? ......... X   X   X   X  
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? ..... X     X X   X  
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
Schedule K (Form 990) 2018
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Schedule K (Form 990) 2018
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Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X X   X     X
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X   X  
Part Ⅴ
Procedures To Undertake Corrective Action
--------------------------------------------------------------------------------------------------------------- A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
Part I Part I, Line A, Column (f) - Construct Facility & refund prior issues (6/9/98, 7/1/98,11/10/04) Part I, Line B, Column (f) - Construct Facility & refund prior issues (7/15/05, 11/7/08, 3/10/10) Part I, Line C, Column (f) - Construct Facility & refund prior issues (7/15/05, 11/7/08, 3/10/10 Part II, Line 3 - The total proceeds do not agree to the issue price in Part I, Column (e) due to interest earnings. Part IV, Arbitrage, Line 2c: (A) Issuer Name: Illinois Finance Authority, Date the Rebate Computation was Performed: 09/18/2010 Note regarding the rebate computation: Since the bond proceeds have been spent, a spending exception was met, and the debt service fund was operated on a bona fide basis so no further rebate calculations are necessary. Part IV, Arbitrage, Line 2c: (B) Issuer Name: Illinois Finance Authority, Date the Rebate Computation was Performed: 04/30/2015 Note regarding the rebate computation: Since the bond proceeds have been spent and the debt service fund was operated on a bona fide basis, no further rebate calculations are necessary. Part IV, Arbitrage, Line 2c: (C) Issuer Name: Illinois Finance Authority, Date the Rebate Computation was Performed: 05/01/2016 Note regarding the rebate computation: Since the bond proceeds have been spent and the debt service fund was operated on a bona fide basis, no further rebate calculations are necessary. Part IV, Arbitrage, Line 2c: (D) Issuer Name: Illinois Finance Authority, Date the Rebate Computation was Performed: 02/08/2015 Note regarding the rebate computation: Since the bond proceeds have been spent, a spending exception was met, and the debt service fund was operated on a bona fide basis so no further rebate calculations are necessary. Part I, Line A, Column (f) - Construct Facility & refund prior issues (3/18/09) Part II, Line 3 - The total proceeds do not agree to the issue price in Part I, Column (e) due to interest earnings.
Schedule K (Form 990) 2018

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