HIGHLANDS FOUNDATION INC: Form 990PF, tax year 2019

View the entire original 990 at ProPublica ↗

Organization: HIGHLANDS FOUNDATION INC (EIN 20-3941123)
Tax period: 2019-01-01 to 2019-12-31
Filed: 2020-10-14
IRS object ID: 202012889349100821
Schema version: 2019v5.1
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
Investments Corp Bonds Schedule
Investments Corp Stock Schedule
Investments Govt Obligations Sch
Investments Other Schedule2
Other Expenses Schedule
Other Increases Schedule
Other Professional Fees Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2020-10-14T16:22:28-05:00	ReturnTs
Tax Period End	2019-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	390859910	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BAKER TILLY US LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 7398	AddressLine1Txt
City	MADISON	CityNm
State Abbreviation	WI	StateAbbreviationCd
ZIP	537077398	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2019-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	203941123	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	HIGHLANDS FOUNDATION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	HIGH	BusinessNameControlTxt
Phone	6082712233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4717 HAMMERSLEY ROAD	AddressLine1Txt
City	MADISON	CityNm
State Abbreviation	WI	StateAbbreviationCd
ZIP	537112708	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	JAMES J BAKKE	PersonNm
Person Title	VICE PRESIDENT	PersonTitleTxt
Phone	6082712233	PhoneNum
Signature	2020-09-29	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	BRIGID ELLIOTT-BOGER CPA	PreparerPersonNm
PTIN	P00089494	PTIN
Phone	6082496622	PhoneNum
Preparation	2020-09-29	PreparationDt
Self Employed	Yes (X)	SelfEmployedInd

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	71.86.166.179	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2020-09-29	IPDt
IP Tm	09:40:27	IPTm
IP Timezone	CD	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	DA39A3EE5E6B4B0D3255BFEF95601890AFD80709	AtSubmissionCreationDeviceId
At Submission Filing Device Id	7B929D470FAB8027D85E41882740AD1C7455F91E	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2019	TaxYr
Build TS	2021-04-22 16:20:28Z	BuildTS

Form 990-PF IRS990PF

Field	Value	IRS element (for citing)
Organization501c3 Exempt PF	Yes (X)	Organization501c3ExemptPFInd
FMV Assets EOY	$24,621,230	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
Dividends Rev And Expnss	$583,318	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$573,563	DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss	$709,159	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$8,584,499	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$709,159	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$1,292,477	TotalRevAndExpnssAmt
Total Net Invst Incm	$1,282,722	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
Other Prof Fees Rev And Expnss	$73,254	OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm	$73,254	OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl	$0	OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss	$47,963	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$7,963	TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss	$1,005	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$950	OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl	$55	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$122,222	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$82,167	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$55	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$563,500	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$563,500	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$685,722	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$82,167	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$563,555	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	$606,755	ExcessRevenueOverExpensesAmt
Net Investment Income	$1,200,555	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$50,100	CashBOYAmt
Cash EOY	$34,982	CashEOYAmt
Cash EOYFMV	$34,982	CashEOYFMVAmt
Sav And Temp Cash Invst BOY	$149,351	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$84,146	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$84,189	SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY	$0	USGovernmentObligationsBOYAmt
US Government Obligations EOY	$5,990,044	USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV	$6,035,901	USGovtObligationsEOYFMVAmt
Corporate Stock BOY	$7,966,518	CorporateStockBOYAmt
Corporate Stock EOY	$7,949,756	CorporateStockEOYAmt
Corporate Stock EOYFMV	$9,779,118	CorporateStockEOYFMVAmt
Corporate Bonds BOY	$13,452,149	CorporateBondsBOYAmt
Corporate Bonds EOY	$8,241,075	CorporateBondsEOYAmt
Corporate Bonds EOYFMV	$8,319,691	CorporateBondsEOYFMVAmt
Other Investments BOY	$340,996	OtherInvestmentsBOYAmt
Other Investments EOY	$322,562	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$367,349	OtherInvestmentsEOYFMVAmt
Total Assets BOY	$21,959,114	TotalAssetsBOYAmt
Total Assets EOY	$22,622,565	TotalAssetsEOYAmt
Total Assets EOYFMV	$24,621,230	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	$21,959,114	RetainedEarningBOYAmt
Retained Earning EOY	$22,622,565	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$21,959,114	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$22,622,565	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$21,959,114	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$22,622,565	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$21,959,114	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	$606,755	ExcessRevenueOverExpensesAmt
Other Increases	$56,696	OtherIncreasesAmt
Subtotal	$22,622,565	SubtotalAmt
Other Decreases	$0	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$22,622,565	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 entries)

PropertyPropertyDesc	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt	How AcquiredHowAcquiredCd
PUBLICLY TRADED SECURITIES - USB ST	$379,760	$389,126	-$9,366	-$9,366
PUBLICLY TRADED SECURITIES - USB LT	$1,776,358	$1,270,124	$506,234	$506,234
PUBLICLY TRADED SECURITIES - GS ST	$455,756	$422,836	$32,920	$32,920
PUBLICLY TRADED SECURITIES - GS LT	$3,844,934	$3,692,366	$152,568	$152,568
PUBLICLY TRADED SECURITIES - GS ORD	$2,126,909	$2,100,888	$26,021	$26,021
CAPITAL GAINS DIVIDENDS	$782		$782	$782	P

Field	Value	IRS element (for citing)
Capital Gain Net Income	$709,159	CapitalGainNetIncomeAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

Field	Value	IRS element (for citing)
Liable Section4942 Tax	0	LiableSection4942TaxInd
Adjusted Qlfy Distri Yr1	$1,055,500	AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1	$22,951,513	NetVlNoncharitableAssetsYr1Amt
Distribution Yr1	0.045988	DistributionYr1Rt
Adjusted Qlfy Distri Yr2	$318,600	AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2	$22,460,401	NetVlNoncharitableAssetsYr2Amt
Distribution Yr2	0.014185	DistributionYr2Rt
Adjusted Qlfy Distri Yr3	$382,112	AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3	$5,215,958	NetVlNoncharitableAssetsYr3Amt
Distribution Yr3	0.073258	DistributionYr3Rt
Adjusted Qlfy Distri Yr4	$313,354	AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4	$5,016,090	NetVlNoncharitableAssetsYr4Amt
Distribution Yr4	0.062470	DistributionYr4Rt
Adjusted Qlfy Distri Yr5	$315,487	AdjustedQlfyDistriYr5Amt
Net Vl Noncharitable Assets Yr5	$5,200,008	NetVlNoncharitableAssetsYr5Amt
Distribution Yr5	0.060670	DistributionYr5Rt
Total Distribution	0.256571	TotalDistributionRt
Average Distribution	0.051314	AverageDistributionRt
Net Vl Noncharitable Assets	$23,321,725	NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets	$1,196,731	AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct	$12,006	NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct	$1,208,737	AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions	$563,555	QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$24,011	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$24,011	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$24,011	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$27,067	EstimatedPlusOvpmtIncmTxAmt
Extsn Request Income Tax Paid	$22,000	ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld	$0	BackupWithholdingWithheldAmt
Total Payments And Credits	$49,067	TotalPaymentsAndCreditsAmt
Form2220 Attached	Yes (X)	Form2220AttachedInd
Es Penalty	$0	EsPenaltyAmt
Overpayment	$25,056	OverpaymentAmt
Applied To ES Tax	$25,056	AppliedToESTaxAmt
Refund	$0	RefundAmt

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	WI	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	JAMES J BAKKE	IndividualWithBooksNm
Phone	6082712233	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	4717 HAMMERSLEY ROAD	AddressLine1Txt
City	MADISON	CityNm
State Abbreviation	WI	StateAbbreviationCd
ZIP	537172708	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
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
SUSAN A BAKKE
4717 HAMMERSLEY ROAD	MADISON	WI	537112708	PRESIDENT	1.00	$0	$0	$0
JAMES J BAKKE
4717 HAMMERSLEY ROAD	MADISON	WI	537112708	VICE PRESIDENT	1.00	$0	$0	$0
BLAINE R RENFERT
4717 HAMMERSLEY ROAD	MADISON	WI	537112708	SECRETARY & TREASURER	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

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GOLDMAN SACHS & CO LLC	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	71 S WACKER DRIVE SUITE 500	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60606	ZIPCd

Field	Value	IRS element (for citing)
Service Type	INVESTMENT MANAGEMENT	ServiceTypeTxt
Compensation	$55,203	CompensationAmt

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	$23,365,756	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$311,122	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$23,676,878	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$23,676,878	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$355,153	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$23,321,725	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$1,166,086	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$1,166,086	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$24,011	TaxBasedOnInvestmentIncomeAmt
Total Tax	$24,011	TotalTaxAmt
Distributable Before Adj	$1,142,075	DistributableBeforeAdjAmt
Recoveries Qualfied Distri	$0	RecoveriesQualfiedDistriAmt
Distributable Before Ded	$1,142,075	DistributableBeforeDedAmt
Deduction From Distributable	$0	DeductionFromDistributableAmt
Distributable As Adjusted	$1,142,075	DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$563,555	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$563,555	QualifyingDistributionsAmt
Pct Sect4940e Org Net Invst Incm	$0	PctSect4940eOrgNetInvstIncmAmt
Adjusted Qualifying Distri	$563,555	AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$1,142,075	DistributableAsAdjustedAmt
Undistributed Income PY	$548,082	UndistributedIncomePYAmt
Total For Prior Years	$0	TotalForPriorYearsAmt
Total Excess Distribution Cyov	$0	TotalExcessDistributionCyovAmt
Qualifying Distributions	$563,555	QualifyingDistributionsAmt
Applied To Year1	$548,082	AppliedToYear1Amt
Applied To Prior Years	$0	AppliedToPriorYearsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$15,473	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	$1,126,602	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	SUSAN A BAKKE	ContributingManagerNm
Contributing Manager	JAMES J BAKKE	ContributingManagerNm
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (16 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient Foundation StatusRecipientFoundationStatusTxt	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt	Address Line2RecipientUSAddress/AddressLine2Txt
BETHEL HORIZONS
312 WISCONSIN AVENUE	MADISON	WI	53703	PC	CAPITAL FUND	$100,000
BETHEL LUTHERAN CHURCH
312 WISCONSIN AVENUE	MADISON	WI	53703	PC	RELIGIOUS SUPPORT	$60,000
DOMESTIC ABUSE INTERVENTION SERVICES
PO BOX 1761	MADISON	WI	53701	PC	SOCIAL SERVICES	$10,000
EDGEWOOD HIGH SCHOOL OF THE SACRED HEART
2219 MONROE STREET	MADISON	WI	53711	PC	EDUCATIONAL SERVICES	$100,000
FOUNDATION FOR MADISON PUBLIC SCHOOLS
455 SCIENCE DRIVE SUITE 130	MADISON	WI	53711	PC	EDUCATIONAL SERVICES	$10,000
MADISON CHILDREN'S MUSEUM FOUNDATION
100 NORTH HAMILTON STREET	MADISON	WI	53703	PC	WONDER BALL	$5,000
MADISON MUSEUM OF CONTEMPORARY ART
227 STATE STREET	MADISON	WI	53703	PC	ARTS SUPPORT	$2,000
MADISON SYMPHONY ORCHESTRA LEAGUE
222 WEST WASHINGTON AVENUE SUITE	MADISON	WI	53703	PC	ARTS SUPPORT-CONCERTS ON THE GREEN	$3,500	460
NATIONAL CENTER FOR PERFORMING ARTS
2440 RESERVOIR AVENUE	TRUMBULL	CT	06611	PC	ARTS SUPPORT-KENNEDY CENTER	$50,000
OCALA FARM MINISTRY
489 NW 110TH AVENUE	OCALA	FL	03482	PC	RELIGIOUS SUPPORT	$1,000
SEASONS OF LIFE HOSPICE HOUSE
8951 WOODRUFF ROAD	WOODRUFF	WI	53568	PC	HUMAN SERVICES	$1,000
ST MARIA GORETTI CATHOLIC PARISH
5313 FLAD AVENUE	MADISON	WI	53711	PC	RELIGIOUS SUPPORT	$3,500
UNITED WAY OF DANE COUNTY
2059 ATWOOD AVENUE	MADISON	WI	53704	PC	HUMAN SERVICES	$25,000
UNIVERSITY OF WISCONSIN FOUNDATION
1848 UNIVERSITY AVENUE	MADISON	WI	53726	PC	GRADUATE FELLOWSHIP	$40,000
UNIVERSITY OF WISCONSIN FOUNDATION
1848 UNIVERSITY AVENUE	MADISON	WI	53726	PC	EDUCATIONAL SUPPORT	$150,000
WISCONSIN CHAMBER ORCHESTRA INC
321 EAST MAIN STREET SUITE 104	MADISON	WI	53703	PC	ARTS SUPPORT-CONCERTS ON THE SQUARE	$2,500

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$563,500	TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut	$0	TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$583,318	ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	18	ExclusionCd
Exclusion	$709,159	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$0	UnrelatedBusinessTaxblIncmAmt
Exclusion	$1,292,477	ExclusionAmt
Related Or Exempt Function Incm	$0	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$1,292,477	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

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (32 entries)

BondBondNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
BAGIX	$503,680	$527,430
DBLTX	$559,639	$552,174
MXFIX	$81,566	$79,176
CORPORATE FIXED INCOME US DOLLAR	$5,314	$5,314
BDA	$856,299	$856,336
ADOBE SYSTEMS INC 4.75%	$150,334	$153,272
UNITED TECHNOLOGIES CORP 4.5%	$150,831	$152,553
MONDELEZ INTERNATIONAL 3.0%	$150,560	$151,106
ABBVIE INC 2.5%	$150,230	$150,715
PNC BANK NA 2.0%	$299,661	$300,745
NORTHROP GRUMMAN CORPORATION 2.08%	$199,970	$201,100
AUTONATION INC 3.35%	$224,463	$230,822
KINDER MORGAN ENERGY PART 5.8%	$154,517	$159,053
UNILEVER CAPITAL CORP 2.75%	$198,978	$203,913
UNITED PARCEL SERVICE, INC. 2.05%	$149,763	$151,171
APPLE INC. 2.85%	$201,253	$203,957
CHARLES SCHWAB CORPORATION 3.25%	$199,994	$204,624
TOYOTA MOTOR CREDIT CORP MTN 1.8%	$199,976	$200,866
CREDIT SUISSE AG-NEW YORK BRAN 2.1%	$249,970	$251,897
GLAXOSMITHKLINE CAPITAL PLC 2.875%	$374,708	$384,085
HONEYWELL INTERNATIONAL 2.15%	$224,773	$228,994
OCCIDENTAL PETROLEUM COR 2.7%	$99,893	$102,113
PAYPAL HOLDINGS, INC. 2.2%	$99,873	$101,150
MARRIOTT INTERNATIONAL 2.125%	$149,688	$151,067
ORACLE CORPORATION 2.5%	$251,121	$255,957
CITIGROUP INC. HYBRID 2.312%	$300,000	$302,031
KFW MTN 1.5%	$399,659	$400,915
IBRD 1.875%	$274,761	$276,069
EIB 1.625%	$348,614	$352,096
COCA-COLA FEMSA S.A.B. DE C.V. 4.625%	$100,198	$101,980
EATON VANCE GROUP MUTUAL FUND CLASS I	$928,479	$924,700
BDA	$2,310	$2,310

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (63 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
AY	$3,948	$5,172
IVV	$904,435	$971,983
VIMAX	$247,962	$275,021
GTSCX	$168,826	$165,440
AHEXY	$655	$664
ADDYY	$2,534	$8,954
AEG	$5,093	$4,109
ALPMY	$3,560	$4,956
BHP	$1,088	$1,149
BCS	$7,621	$9,130
CAJ	$3,173	$3,118
SBS	$5,475	$8,684
CCEP	$12,117	$13,280
ELP	$3,588	$5,285
CRTO	$9,998	$7,105
CYBR	$2,956	$2,798
DANOY	$1,105	$1,501
DBSDY	$4,187	$5,015
DHT	$1,504	$1,615
ENIA	$2,889	$3,327
FERGY	$3,214	$4,507
FINV	$1,416	$1,071
FLY	$6,029	$8,428
GLPG	$863	$827
IBA	$5,106	$6,500
ICAGY	$1,549	$1,523
IEFA	$408,437	$393,397
ADRNY	$5,090	$8,986
PHG	$9,309	$9,711
KT	$11,506	$10,939
LX	$2,532	$2,834
MLCO	$13,705	$15,275
MUFG	$9,258	$9,470
MFG	$9,437	$8,074
NICE	$12,357	$20,014
MTTYY	$9,126	$10,757
NOMD	$4,311	$4,519
NAT	$931	$1,107
NVS	$11,384	$12,026
NVO	$4,291	$5,267
DCMYY	$8,971	$13,061
IX	$2,866	$3,003
PSO	$4,027	$3,085
QD	$1,482	$994
RHHBY	$27,895	$33,179
SIMO	$572	$659
SNE	$2,095	$2,380
STM	$2,795	$3,256
SMFG	$25,054	$25,024
TARO	$2,283	$2,022
UOVEY	$2,072	$2,005
VIPS	$3,324	$4,917
WNS	$4,664	$10,319
WPP	$5,197	$6,326
BEXIX	$81,009	$104,836
CEMIX	$75,903	$89,249
QLEIX	$76,826	$68,427
BPIRX	$79,232	$84,298
SPY	$2,497,992	$3,593,437
IWM	$459,662	$627,227
RWO	$531,689	$598,044
BTMKX	$1,966,354	$2,260,464
SSKEX	$165,227	$209,368

Investments Govt Obligations Sch InvestmentsGovtObligationsSch

Field	Value	IRS element (for citing)
US Govt Obligations Book Vl EOY	$5,990,044	USGovtObligationsBookVlEOYAmt
US Govt Obligations EOYFMV	$6,035,901	USGovtObligationsEOYFMVAmt
State Local Sec Book Vl EOY	$0	StateLocalSecBookVlEOYAmt
State Local Sec EOYFMV	$0	StateLocalSecEOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (2 entries)

Category Or ItemCategoryOrItemTxt	Listed At Cost Or FMVListedAtCostOrFMVCd	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
VNQ	AT COST	$254,479	$301,382
CRSOX	AT COST	$68,083	$65,967

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
US BANK - CHECKING ACCOUNT FEE	$55	$0	$55
US BANK - THIRD PARTY & ADR FEES	$950	$950	$0

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

Field	Value	IRS element (for citing)
Desc	ADJUSTMENT FOR TIMING DIFFERENCES	Desc
Amt	$56,696	Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
US BANK - INVESTMENT MANAGEMENT	$17,751	$17,751	$0
GOLDMAN SACHS - INVESTMENT MANAGEMENT	$55,203	$55,203	$0
US BANK - TAX LETTER	$300	$300	$0

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
US BANK - FOREIGN TAXES PAID	$2,237	$2,237	$0
GOLDMAN SACHS - FOREIGN TAXES PAID	$5,726	$5,726	$0
DEPARTMENT OF TREASURY - 2018 EXCISE TAX EXTENSION PAYMENT	$40,000	$0	$0