KENDRICK B MELROSE FAMILY FOUNDATION: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- KENDRICK B MELROSE FAMILY FOUNDATION (EIN 41-1894134)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-05-01
- IRS object ID
- 202501219349100995
- Schema version
- 2024v5.1
- 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
- Schedule B
- Accounting Fees Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Govt Obligations Sch
- Investments Other Schedule2
- Other Decreases Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-01T12:52:56-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450250958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Eide Bailly LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 800 Nicollet Mall Ste 1300 | AddressLine1Txt |
| City | Minneapolis | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 554027033 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411894134 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Kendrick B Melrose Family Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | KEND | BusinessNameControlTxt |
| Phone | 7635458667 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 Balsam Lane N | AddressLine1Txt |
| City | Plymouth | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55441 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | David Zaudtke | PersonNm |
| Person Title | Treasurer | PersonTitleTxt |
| Phone | 7635458667 | PhoneNum |
| Signature | 2025-04-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Deb Nelson CPA | PreparerPersonNm |
| PTIN | P01264758 | PTIN |
| Phone | 6122536500 | PhoneNum |
| Preparation | 2025-04-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $67,690,146 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $21,281,903 | ContriRcvdRevAndExpnssAmt |
| Dividends Rev And Expnss | $933,409 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $933,409 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $657,996 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $8,322,072 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $657,996 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $15,346 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $15,346 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $22,888,654 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $1,606,751 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $147,000 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $49,850 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $54,150 | CompOfcrDirTrstDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $6,600 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Chrtbl Prps | $6,600 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $282,234 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $282,234 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $0 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $3,789 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $2,459 | TaxesNetInvstIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $312 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $312 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $439,935 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $334,543 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $61,062 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $463,400 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $463,400 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $903,335 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $334,543 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $524,462 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $21,985,319 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $1,272,208 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $1,328,320 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $1,371,175 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $1,371,175 | SavAndTempCashInvstEOYFMVAmt |
| US Government Obligations BOY | $1,943,233 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $2,503,650 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $2,478,989 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $19,094,212 | CorporateStockBOYAmt |
| Corporate Stock EOY | $7,854,457 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $19,283,462 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $3,333,531 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $1,911,878 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $1,936,017 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $1,518,812 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $35,562,019 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $42,620,503 | OtherInvestmentsEOYFMVAmt |
| Total Assets BOY | $27,218,108 | TotalAssetsBOYAmt |
| Total Assets EOY | $49,203,179 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $67,690,146 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $0 | CapitalStockBOYAmt |
| Capital Stock EOY | $0 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $27,218,108 | RetainedEarningBOYAmt |
| Retained Earning EOY | $49,203,179 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $27,218,108 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $49,203,179 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $27,218,108 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $49,203,179 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $27,218,108 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $21,985,319 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $49,203,427 | SubtotalAmt |
| Other Decreases | $248 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $49,203,179 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)
| PropertyPropertyDesc | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | How AcquiredHowAcquiredCd |
|---|---|---|---|---|---|
| MorganStanley | $2,267,670 | $2,270,797 | -$3,127 | -$3,127 | |
| Wells Fargo | $5,611,839 | $5,393,279 | $218,560 | $218,560 | |
| Capital Gains Dividends | $442,563 | $442,563 | $442,563 | P |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $657,996 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $17,684 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $17,684 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $17,684 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $5,400 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $5,400 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $586 | EsPenaltyAmt |
| Tax Due | $12,870 | 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 | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | MN | 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 | Kendrick B Melrose Family Foundati | IndividualWithBooksNm |
| Phone | 7635458667 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 Balsam Lane N | AddressLine1Txt |
| City | Plymouth | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55441 | 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 | Yes (1) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | 0 | ActsFailToQlfyAsExceptionsInd |
| 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 |
| 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 | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| Edward A Arndt | ||||||||
| 115 Balsam Lane N | Plymouth | MN | 55441 | Chair/President | 2.00 | $53,000 | $0 | $0 |
| David Zaudtke | ||||||||
| 115 Balsam Lane N | Plymouth | MN | 55441 | Treasurer | 1.00 | $51,000 | $0 | $0 |
| Laurie Rivard | ||||||||
| 115 Balsam Lane N | Plymouth | MN | 55441 | Secretary | 1.00 | $43,000 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Wells Fargo | |||||
| 90 South 7th Street MAC N9305-111 | Minneapolis | MN | 55402 | Investment management | $227,309 |
| MorganStanley | |||||
| 445 East Lake Street Suite 320 | Wayzata | MN | 55391 | Investment management | $54,925 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
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 | $42,590,322 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $1,223,198 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $43,813,520 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $43,813,520 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $657,203 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $43,156,317 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,157,816 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,157,816 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $17,684 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $17,684 | TotalTaxAmt |
| Distributable Before Adj | $2,140,132 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $0 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $2,140,132 | DistributableBeforeDedAmt |
| Deduction From Distributable | $0 | DeductionFromDistributableAmt |
| Distributable As Adjusted | $2,140,132 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $524,462 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $524,462 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,140,132 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr5 | $592,085 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $907,061 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr2 | $956,493 | ExcessDistributionCyovYr2Amt |
| Total Excess Distribution Cyov | $2,455,639 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $524,462 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Applied To Prior Years | $0 | AppliedToPriorYearsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $524,462 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $1,615,670 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $1,615,670 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $839,969 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Prior Year Deficiency Or Tax | $0 | PriorYearDeficiencyOrTaxAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Corpus Distri170b1 E Or4942g3 | $0 | CorpusDistri170b1EOr4942g3Amt |
| Excess Distri Cyov From Yr5 | $0 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $839,969 | ExcessDistriCyovToNextYrAmt |
| Excess From Year2 | $839,969 | ExcessFromYear2Amt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (9 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| Alzheimers Association Minnesota-North Dakota Chapter | |||||||
| 12701 Whitewater Drive Suite 290 | Minnetonka | MN | 55343 | None | PC | General Purpose | $71,000 |
| Create A Memory Foundation | |||||||
| 80 South 8th Street Suite 3901 | Minneapolis | MN | 55402 | None | PC | General Purpose | $115,000 |
| Giving Voice Initiative | |||||||
| 7400 Metro Boulevard Suite 255 | Edina | MN | 55439 | None | PC | General Operations | $12,000 |
| Good Cities | |||||||
| 7340 Hunters Run | Eden Prairie | MN | 55346 | None | PC | General Purpose | $8,400 |
| Helping Paws Inc | |||||||
| 630 12th Ave S PO Box 634 | Hopkins | MN | 55343 | None | PC | General Purpose | $50,000 |
| Hill Cities | |||||||
| 4440 2-1/2 Street NE | Minneapolis | MN | 55421 | None | PC | General Purpose | $12,000 |
| Minnesota Military Family Foundation | |||||||
| 630 Mendelssohn Ave N | Golden Valley | MN | 55427 | None | PC | General Purpose | $10,000 |
| No Barriers USA | |||||||
| 605 South College Avenue 101 | Fort Collins | CO | 80524 | None | PC | General Purpose | $120,000 |
| Park Nicollet Foundation | |||||||
| 6500 Excelsior Blvd | St Louis Park | MN | 55426 | None | PC | Melrose East St. Paul location expansion | $65,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $463,400 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $933,409 | ExclusionAmt |
Other Investment Income OtherInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $15,346 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $657,996 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $1,606,751 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $1,606,751 | 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 |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Kendrick B Melrose Irrevocable Trust | BusinessNameLine1Txt |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 Balsom Lane N | AddressLine1Txt |
| City | Plymouth | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 554416003 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | $21,281,903 | TotalContributionsAmt |
| Person Contribution | Yes (X) | PersonContributionInd |
| Noncash Contribution | Yes (X) | NoncashContributionInd |
Non Cash Property Contribution NonCashPropertyContributionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | 1 | ContributorNum |
| Noncash Property | Shares of multiple stocks | NoncashPropertyDesc |
| Fair Market Value | $29,833,026 | FairMarketValueAmt |
| Received | 2024-06-27 | ReceivedDt |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting Fees | CategoryTxt |
| Amt | $6,600 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $6,600 | DisbursementsCharitablePrpsAmt |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (41 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| ABBVIE JNC | $44,849 | $46,408 |
| AMAZON.COM Lnc | $47,614 | $48,276 |
| AMERICAN EXPRESS CO | $48,815 | $49,799 |
| AMERICAN INTt GROUP | $48,431 | $47,941 |
| AMGEN INC | $50,833 | $50,467 |
| ANHEUSER-BUSCH INBEVWOR | $49,907 | $49,980 |
| ANTHEM INC | $35,950 | $36,383 |
| APPLE INC | $48,461 | $49,397 |
| AT&T INC | $50,101 | $50,200 |
| BOEING CO | $46,003 | $48,490 |
| CANADIAN IMPERIAL BANK | $64,706 | $65,517 |
| CATERPILLAR FINL SERVICE | $44,902 | $45,125 |
| CITIGROUP INC | $46,660 | $48,059 |
| CVS HEALTHCORP | $48,492 | $48,446 |
| DUKE ENERGY CORP | $42,294 | $42,868 |
| FISERV INC | $46,202 | $46,913 |
| GENERAL MILLS INC | $39,330 | $39,168 |
| GILEAD SCIENCES INC | $48,643 | $49,932 |
| GOLDMAN SACHS GROUP INC | $67,297 | $71,159 |
| HOME DEPOT INC | $45,172 | $44,607 |
| JPMORGAN CHASE & CO | $54,892 | $56,184 |
| KEURIG DR PEPPER INC | $46,608 | $46,781 |
| LOCKHEED MARTIN CORP | $51,348 | $50,769 |
| LOWE'S COS INC_ | $43,069 | $43,429 |
| MASTER CARD INC | $42,029 | $42,282 |
| MCKESSON CORP | $45,319 | $44,757 |
| MERCK & CO INC | $41,885 | $41,816 |
| METAPLATFORMS INC | $49,969 | $50,064 |
| MORGAN STANLEY | $46,593 | $48,215 |
| NORTHROP GRUMMAN CORP | $47,311 | $47,796 |
| PEPSICO INC | $67,413 | $69,617 |
| PFIZER INVESTMENT ENTER | $49,755 | $49,561 |
| RTX CORP | $32,118 | $32,723 |
| STARBUCKS CORP | $34,984 | $35,011 |
| STATE STREET CORP | $31,465 | $34,017 |
| SUMITOMO MITSUIFINL GRP | $45,872 | $45,715 |
| SYSCO CORPORATION | $48,095 | $48,966 |
| TEXAS INSTRUMENTS INC | $39,515 | $39,724 |
| UNITEDHEALTH GROUP INC | $51,851 | $50,315 |
| VERIZON COMMUNICATIONS | $28,519 | $29,280 |
| WALT DISNEY COMPANY | $48,606 | $49,860 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (23 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| ACCENTURE PLC | $382,016 | $746,850 |
| ALPHABET INC CL C | $547,487 | $1,576,843 |
| AMPHENOL CORP CL A | $249,972 | $818,954 |
| APPLE INC | $672,123 | $2,311,877 |
| BERKSHIRE HATHAWAY CL-B NEW | $318,960 | $781,455 |
| BERKSHIRE HATHAWAY INC. | $271,586 | $679,920 |
| BLACKROCK FUNDING INC/DE | $286,484 | $607,890 |
| BROOKFIELD ASSET MANAGMT LTD | $36,242 | $93,153 |
| BROOKFIELD CORP CL A | $148,025 | $389,856 |
| BROOKFIELD RENEWABLE CORP CL A | $54,548 | $58,722 |
| CHEVRON CORP | $194,342 | $314,158 |
| FARMLAND PARTNERS INC | $31,840 | $61,258 |
| GOLDMAN SACHS GROUP lNC | $294,387 | $957,421 |
| GRANITE POINT MORTGAGE TRUST I | $35,981 | $33,896 |
| JPMORGAN CHASE & CO | $397,092 | $1,031,712 |
| MASTERCARD INC | $705,267 | $1,382,773 |
| MICROSOFT CORP | $545,313 | $1,303,278 |
| RESMED INC | $395,800 | $571,725 |
| S&P GLOBAL INC | $343,323 | $743,559 |
| TAIWAN SEMICONDUCTOR MANUFACTU-ADR | $660,354 | $2,518,787 |
| THERMO FISHER SCIENTIFIC INC | $577,929 | $913,004 |
| UNITEDHEALTH GROUP INC | $398,528 | $708,204 |
| WALMART INC | $306,858 | $678,167 |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| US Govt Obligations Book Vl EOY | $2,503,650 | USGovtObligationsBookVlEOYAmt |
| US Govt Obligations EOYFMV | $2,478,989 | USGovtObligationsEOYFMVAmt |
| State Local Sec Book Vl EOY | $0 | StateLocalSecBookVlEOYAmt |
| State Local Sec EOYFMV | $0 | StateLocalSecEOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (41 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| !SHARES CORE S&P SMALL-CAP ETF | AT COST | $1,602,915 | $1,650,296 |
| ACAP STRATEGIC INTERVAL COMMON | AT COST | $250,000 | $597,871 |
| CTR COAST BRKFLD MDSTRM FOC I | AT COST | $52,440 | $72,482 |
| DOUBLELINE INCOME SOLUTIONS FD | AT COST | $36,378 | $37,949 |
| DOUBLELINE TOTAL RETURN I | AT COST | $231,406 | $200,988 |
| E V SHT DURATION GOVT INC I | AT COST | $732,462 | $681,452 |
| EATON VANCE LTD DURATION FD | AT COST | $46,507 | $44,121 |
| EDGEWOODGROWTHINSTL#2l31 | AT COST | $2,000,000 | $1,737,666 |
| FIRST TR INTERM DUR PRF&INC FD | AT COST | $49,363 | $53,478 |
| INVESCO QQQ TRUST SERIES 1 | AT COST | $1,112,397 | $1,124,706 |
| ISHARES 0-3 MONTH TREASURY B | AT COST | $1,206,666 | $1,203,840 |
| ISHARES BROAD USD INV GRD CORP | AT COST | $480,709 | $506,772 |
| ISHARES CORE S&P MID-CAP ETF | AT COST | $1,919,191 | $2,274,315 |
| ISHARES CORES & P 500 ETF | AT COST | $6,117,487 | $8,983,257 |
| ISHARES CORES&P SMALL-CAP ETF | AT COST | $2,486,744 | $2,712,808 |
| ISHARES CORES&P SMALL-CAP ETF | AT COST | $967,853 | $1,007,032 |
| ISHARES MBS ETF | AT COST | $112,193 | $110,016 |
| ISHARES RUSSELL TOP 200 G ETF | AT COST | $282,748 | $880,851 |
| ISHARES S&P 500 VALUE ETF . | AT COST | $1,112,792 | $1,145,280 |
| KINETICS PARADIGM INST | AT COST | $189,815 | $683,566 |
| MFS INTL DIVERSIFICATION I | AT COST | $631,311 | $689,003 |
| NH CREDIT PTR II OFFSH | AT COST | $57,933 | $150,712 |
| OAKTREE SPECIALTY LENDING CORP | AT COST | $88,739 | $79,792 |
| PIMCO HIGH YIELD FUND | AT COST | $843,500 | $839,038 |
| PIMCO INCOME I | AT COST | $246,068 | $238,975 |
| PRINCIPAL MIDCAP FUND | AT COST | $2,000,000 | $2,215,063 |
| PRINCIPAL PREFERRED SECURITIES FUND | AT COST | $2,736,000 | $2,582,228 |
| PROSHARES TR S&P 500 DV ARIST | AT COST | $491,349 | $669,076 |
| SPDR PORTFOLIO S&P 600 SMALL | AT COST | $481,775 | $446,415 |
| SPDRS & P 500 ETF TRUST | AT COST | $510,843 | $1,054,944 |
| THORNBURG STRATEGIC INC I | AT COST | $240,076 | $238,276 |
| TOYOTA AUTO RECEIVABLES OWNER | AT COST | $16,112 | $16,750 |
| TROWE PRICE INSTITUTIONAL FLOAT | AT COST | $850,000 | $853,598 |
| VANGUARD DIVIDEND APPRECIATION | AT COST | $434,037 | $907,868 |
| VANGUARD FTSE EMERGING MARKETS ETF | AT COST | $1,575,167 | $1,728,956 |
| VANGUARD SHORT-TERM CORPORATE | AT COST | $233,367 | $240,115 |
| VANGUARD SMALL CAP ETF | AT COST | $169,443 | $301,792 |
| VANGUARD TOTAL BOND MARKET | AT COST | $254,498 | $245,141 |
| VANGUARD TOTAL BOND MARKETINDEX ADMIRAL | AT COST | $1,400,000 | $1,389,738 |
| VIRTUS KAR SMALL-CAP CORE FUND | AT COST | $844,351 | $1,097,487 |
| WISDOMTREE US LARGECAP DIV FND | AT COST | $467,384 | $926,790 |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Cost Basis Adjustment | Desc |
| Amt | $248 | Amt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| MN Filing Fee | $25 | $0 | $25 |
| Miscellaneous Expense | $287 | $0 | $287 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other Investment Income | Desc |
| Revenue And Expenses Per Books | $15,346 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $15,346 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $15,346 | AdjustedNetIncomeAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Investment Management Fees | CategoryTxt |
| Amt | $282,234 | Amt |
| Net Investment Income | $282,234 | NetInvestmentIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| Excise Tax | $1,330 | $0 | $0 |
| Foreign Tax | $2,459 | $2,459 | $0 |