NORMAN AND ANN HOFFMAN FOUNDATION: Form 990PF, tax year 2025

View the entire original 990 at ProPublica ↗

Organization: NORMAN AND ANN HOFFMAN FOUNDATION (EIN 45-3080856)
Tax period: 2025-01-01 to 2025-12-31
Filed: 2026-03-13
IRS object ID: 202610729349100511
Schema version: 2025v4.0
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
Investments Corp Bonds Schedule
Investments Corp Stock Schedule
Investments Govt Obligations Sch
Investments Other Schedule2
Legal Fees Schedule
Other Decreases Schedule
Other Expenses Schedule
Other Professional Fees Schedule
Taxes Schedule

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2026-03-13T10:17:47-05:00	ReturnTs
Tax Period End	2025-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	420714325	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

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

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	227 WEST FIRST STREET SUITE 700	AddressLine1Txt
City	DULUTH	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55802	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990PF	ReturnTypeCd
Tax Period Begin	2025-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	453080856	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	NORMAN AND ANN HOFFMAN FAMILY FOUNDATION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	NORM	BusinessNameControlTxt
Phone	9522706862	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	7750 RUTZ LAKE RD	AddressLine1Txt
City	WACONIA	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55387	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	GERALD R STORMS	PersonNm
Person Title	DIRECTOR/VP/TREASURER	PersonTitleTxt
Phone	9522706862	PhoneNum
Signature	2026-03-11	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JULIE BOYER	PreparerPersonNm
PTIN	P01278549	PTIN
Phone	2187275025	PhoneNum
Preparation	2026-03-11	PreparationDt

Field	Value	IRS element (for citing)
Tax	2025	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	$8,589,220	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	$62,326	InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm	$61,591	InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss	$119,489	DividendsRevAndExpnssAmt
Dividends Net Invst Incm	$115,556	DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss	$6,943	NetGainSaleAstRevAndExpnssAmt
Gross Sales Price	$1,438,038	GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm	$6,943	CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss	$188,758	TotalRevAndExpnssAmt
Total Net Invst Incm	$184,090	TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss	$10,147	CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm	$0	CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl	$10,147	CompOfcrDirTrstDsbrsChrtblAmt
Legal Fees Rev And Expnss	$6,294	LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm	$0	LegalFeesNetInvstIncmAmt
Legal Fees Dsbrs Chrtbl	$6,294	LegalFeesDsbrsChrtblAmt
Accounting Fees Rev And Expnss	$5,250	AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm	$2,625	AccountingFeesNetInvstIncmAmt
Accounting Fees Chrtbl Prps	$2,625	AccountingFeesChrtblPrpsAmt
Other Prof Fees Rev And Expnss	$35,123	OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm	$35,123	OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl	$0	OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss	$3,880	TaxesRevAndExpnssAmt
Taxes Net Invst Incm	$375	TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl	$0	TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss	$757	OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm	$0	OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl	$757	OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss	$61,451	TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm	$38,123	TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl	$19,823	TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss	$370,000	ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl	$370,000	ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss	$431,451	TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm	$38,123	TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl	$389,823	TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses	-$242,693	ExcessRevenueOverExpensesAmt
Net Investment Income	$145,967	NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

Field	Value	IRS element (for citing)
Cash BOY	$23,755	CashBOYAmt
Cash EOY	$12,803	CashEOYAmt
Cash EOYFMV	$12,803	CashEOYFMVAmt
Sav And Temp Cash Invst BOY	$1,106,287	SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY	$982,656	SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV	$985,678	SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY	$0	USGovernmentObligationsBOYAmt
US Government Obligations EOY	$100,049	USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV	$100,080	USGovtObligationsEOYFMVAmt
Corporate Stock BOY	$551,903	CorporateStockBOYAmt
Corporate Stock EOY	$517,460	CorporateStockEOYAmt
Corporate Stock EOYFMV	$1,563,870	CorporateStockEOYFMVAmt
Corporate Bonds BOY	$276,307	CorporateBondsBOYAmt
Corporate Bonds EOY	$174,839	CorporateBondsEOYAmt
Corporate Bonds EOYFMV	$172,912	CorporateBondsEOYFMVAmt
Other Investments BOY	$2,170,299	OtherInvestmentsBOYAmt
Other Investments EOY	$2,085,893	OtherInvestmentsEOYAmt
Other Investments EOYFMV	$5,753,877	OtherInvestmentsEOYFMVAmt
Total Assets BOY	$4,128,551	TotalAssetsBOYAmt
Total Assets EOY	$3,873,700	TotalAssetsEOYAmt
Total Assets EOYFMV	$8,589,220	TotalAssetsEOYFMVAmt
Total Liabilities BOY	$0	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind
Capital Stock BOY	-$355,761	CapitalStockBOYAmt
Capital Stock EOY	-$355,761	CapitalStockEOYAmt
Additional Paid In Capital BOY	$0	AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY	$0	AdditionalPaidInCapitalEOYAmt
Retained Earning BOY	$4,484,312	RetainedEarningBOYAmt
Retained Earning EOY	$4,229,461	RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY	$4,128,551	TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY	$3,873,700	TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY	$4,128,551	TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY	$3,873,700	TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

Field	Value	IRS element (for citing)
Tot Net Ast Or Fund Balances BOY	$4,128,551	TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses	-$242,693	ExcessRevenueOverExpensesAmt
Other Increases	$0	OtherIncreasesAmt
Subtotal	$3,885,858	SubtotalAmt
Other Decreases	$12,158	OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY	$3,873,700	TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDesc	How AcquiredHowAcquiredCd	Gross Sales PriceGrossSalesPriceAmt	Cost Or Other BasisCostOrOtherBasisAmt	Gain Or LossGainOrLossAmt	Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
SALE OF PUBLICLY TRADED SECURITIES	P	$1,429,774	$1,431,095	-$1,321	-$1,321
CAPITAL GAINS DIVIDENDS	P	$8,264		$8,264	$8,264

Field	Value	IRS element (for citing)
Capital Gain Net Income	$6,943	CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

Field	Value	IRS element (for citing)
Investment Income Excise Tax	$2,029	InvestmentIncomeExciseTaxAmt
Tax Under Section511	$0	TaxUnderSection511Amt
Subtotal	$2,029	SubtotalAmt
Subtitle A Tax	$0	SubtitleATaxAmt
Tax Based On Investment Income	$2,029	TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx	$2,680	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	$2,680	TotalPaymentsAndCreditsAmt
Form2220 Attached	Yes (X)	Form2220AttachedInd
Es Penalty	$0	EsPenaltyAmt
Overpayment	$651	OverpaymentAmt
Applied To ES Tax	$651	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	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

Persons With Books Name PersonsWithBooksName

Field	Value	IRS element (for citing)
Business Name Line1	GERALD R STORMS	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	9522706862	PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

Field	Value	IRS element (for citing)
Address Line1	7750 RUTZ LAKE RD	AddressLine1Txt
City	WACONIA	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55387	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
GERALD R STORMS
116 LAKE STREET WEST	WACONIA	MN	55387	DIRECTOR/VP/TREASURER	1.00	$10,147	$0	$178
JEANNE H HOFFMAN
116 LAKE STREET WEST	WACONIA	MN	55387	DIRECTOR/PRESIDENT	1.00	$0	$0	$0
JULIA K HOFFMAN
116 LAKE STREET WEST	WACONIA	MN	55387	DIRECTOR/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

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	$8,018,079	AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances	$251,910	AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast	$0	FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets	$8,269,989	TotalFMVOfUnusedAssetsAmt
Reduction Claimed	$0	ReductionClaimedAmt
Acquisition Indebtedness	$0	AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast	$8,269,989	AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable	$124,050	CashDeemedCharitableAmt
Net Vl Noncharitable Assets	$8,145,939	NetVlNoncharitableAssetsAmt
Minimum Investment Return	$407,297	MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

Field	Value	IRS element (for citing)
Minimum Investment Return	$407,297	MinimumInvestmentReturnAmt
Tax Based On Investment Income	$2,029	TaxBasedOnInvestmentIncomeAmt
Total Tax	$2,029	TotalTaxAmt
Distributable Before Adj	$405,268	DistributableBeforeAdjAmt
Recoveries Qualfied Distri	$0	RecoveriesQualfiedDistriAmt
Distributable Before Ded	$405,268	DistributableBeforeDedAmt
Deduction From Distributable	$0	DeductionFromDistributableAmt
Distributable As Adjusted	$405,268	DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

Field	Value	IRS element (for citing)
Expenses And Contributions	$389,823	ExpensesAndContributionsAmt
Program Related Invst Total	$0	ProgramRelatedInvstTotalAmt
Qualifying Distributions	$389,823	QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

Field	Value	IRS element (for citing)
Distributable As Adjusted	$405,268	DistributableAsAdjustedAmt
Undistributed Income PY	$0	UndistributedIncomePYAmt
Total For Prior Years	$0	TotalForPriorYearsAmt
Total Excess Distribution Cyov	$0	TotalExcessDistributionCyovAmt
Qualifying Distributions	$389,823	QualifyingDistributionsAmt
Applied To Year1	$0	AppliedToYear1Amt
Applied To Prior Years	$0	AppliedToPriorYearsAmt
Treated As Distri From Corpus	$0	TreatedAsDistriFromCorpusAmt
Applied To Current Year	$389,823	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	$15,445	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)
Only Contri To Preselected	Yes (X)	OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1Txt	CityRecipientUSAddress/CityNm	State AbbreviationRecipientUSAddress/StateAbbreviationCd	ZIPRecipientUSAddress/ZIPCd	Recipient RelationshipRecipientRelationshipTxt	Recipient Foundation StatusRecipientFoundationStatusCd	Grant Or Contribution PurposeGrantOrContributionPurposeTxt	AmtAmt
ASCENSION CATHOLIC SCHOOL
1723 BRYANT AVE N	MINNEAPOLIS	MN	55411	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	$20,000
BEACON INTERFAITH HOUSING COLLABORATIVE
2610 UNIVERSITY AVE W STE 100	ST PAUL	MN	55114	N/A	PC	PROGRAM SUPPORT	$30,000
HOLY FAMILY HIGH CATHOLIC SCHOOL
8101 KOCHIA LANE	VICTORIA	MN	55386	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	$25,000
LIBRARY FOUNDATION-CARVER COUNTY
217 S VINE STREET	WACONIA	MN	55387	N/A	PC	PROGRAM SUPPORT	$10,000
MY VERY OWN BED
34 13TH AVE NE SUITE 106	MINNEAPOLIS	MN	55413	N/A	PC	PROGRAM SUPPORT	$30,000
ST JOSEPH CATHOLIC CHURCH
41 1ST STREET EAST	WACONIA	MN	55387	N/A	PC	PROGRAM SUPPORT	$20,000
ST PAUL SEMINARY SCHOOL OF DIVINITY
2260 SUMMIT AVE	ST PAUL	MN	55105	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	$25,000
UNIVERSITY OF MINNESOTA FOUNDATION
PO BOX 860266	MINNEAPOLIS	MN	554860266	N/A	PC	HOFFMAN FAMILY FUND IN EDUCATION SUPPORT	$50,000
UNIVERSITY OF MINNESOTA FOUNDATION
PO BOX 860266	MINNEAPOLIS	MN	554860266	N/A	PC	MASTER GARDENER VOLUNTEER PROGRAM SUPPORT	$10,000
UNIVERSITY OF ND ALUMNI ASSO FOUNDATION
3501 UNIVERSITY AVE	GRAND FORKS	ND	582028157	N/A	PC	STEM COMPLEX PROJECT SUPPORT	$150,000

Field	Value	IRS element (for citing)
Total Grant Or Contri Pd Dur Yr	$370,000	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	$62,326	ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

Field	Value	IRS element (for citing)
Exclusion	14	ExclusionCd
Exclusion	$119,489	ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

Field	Value	IRS element (for citing)
Exclusion	18	ExclusionCd
Exclusion	$6,943	ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

Field	Value	IRS element (for citing)
Unrelated Business Taxbl Incm	$0	UnrelatedBusinessTaxblIncmAmt
Exclusion	$188,758	ExclusionAmt
Related Or Exempt Function Incm	$0	RelatedOrExemptFunctionIncmAmt

Field	Value	IRS element (for citing)
Total Income Producing Acty	$188,758	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	TAX PREP FEES	CategoryTxt
Amt	$5,250	Amt
Net Investment Income	$2,625	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$2,625	DisbursementsCharitablePrpsAmt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (4 entries)

BondBondNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
MURPHY OIL CORP	$23,698	$23,926
KRAFT HEINZ FOODS CO GTD SR NOTE	$50,026	$49,781
MCDONALDS CORP MEDIUM TERM NOTE	$50,391	$49,774
AIR LEASE CORP SR NOTE 3.625% DUE 04/01/27	$50,724	$49,431

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (11 entries)

StockStockNm	EOY Book ValueEOYBookValueAmt	EOYFMVEOYFMVAmt
3M COMPANY	$25,043	$28,018
ABBVIE INC	$35,912	$57,123
ALPHABET INC CL A	$49,731	$283,265
AMAZON.COM INC	$79,510	$230,820
GOLDMAN SACHS GROUP INC	$60,944	$285,675
INTL BUSINESS MACHINES	$34,059	$74,053
JPMORGAN CHASE & CO	$63,751	$209,443
MICROSOFT CORP	$46,366	$145,086
ONEOK INC NEW	$50,669	$73,500
SALESFORCE.COM INC	$23,310	$37,087
WELLS FARGO & CO NEW	$48,165	$139,800

Investments Govt Obligations Sch InvestmentsGovtObligationsSch

Field	Value	IRS element (for citing)
US Govt Obligations Book Vl EOY	$0	USGovtObligationsBookVlEOYAmt
US Govt Obligations EOYFMV	$0	USGovtObligationsEOYFMVAmt
State Local Sec Book Vl EOY	$100,049	StateLocalSecBookVlEOYAmt
State Local Sec EOYFMV	$100,080	StateLocalSecEOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (35 entries)

Category Or ItemCategoryOrItemTxt	Listed At Cost Or FMVListedAtCostOrFMVCd	Book ValueBookValueAmt	EOYFMVEOYFMVAmt
BANK AMERICA CORP NON CUML PERPETL CONV PFD SER L 7.25%	AT COST	$50,123	$56,340
BRIDGEWATER BANCSHARES INC DEP SHS 1/100TH INT PERPTL A PFD	AT COST	$42,800	$37,860
BRIGHTHOUSE FINL INC REPSTG 1/1000TH INT NON CUML A PERPTL 6.6%	AT COST	$29,125	$22,875
DIGITALBRIDGE GROUP INC PFD	AT COST	$93,358	$155,400
JACKSON FINL INC DEP SHS REP 1/1000 INT NONCUML PERPTL PFD	AT COST	$50,580	$52,139
M & T BANK CORP PERPETL NON CUML PFD	AT COST	$47,700	$49,260
MFA FINANCIAL INC SR NOTE	AT COST	$37,677	$38,100
FLAGSTAR FINANCIAL INC DEP SHS REPSTG 1/40TH PERPTL PFD	AT COST	$69,620	$70,060
REGIONS FINANCIAL CORP DEP SHS REP 1/40TH PERPTL PFD	AT COST	$78,438	$76,230
TWO HARBORS INVESTMENT CORP SER B FXD/VAR	AT COST	$49,621	$47,120
WESBANCO INC DEP SHS REP	AT COST	$51,340	$51,580
FIRST TRUST NASDAQ CYBERSECURITY ETF	AT COST	$51,600	$178,625
INVESCO DWA CONSUMER STAPLES MOMENTUM ETF	AT COST	$85,897	$251,071
INVESCO DWA UTILITIES MOMENTUM ETF	AT COST	$45,204	$130,753
ISHARES BIOTECHNOLOGY ETF	AT COST	$104,530	$295,348
ISHARES EXPANDED TECH SOFTWARE SECTOR ETF	AT COST	$74,017	$369,915
ISHARES GLOBAL INDUSTRIALS ETF	AT COST	$50,631	$157,806
ISHARES RUSSELL 1000 VALUE ETF	AT COST	$52,852	$189,306
ISHARES RUSSELL 2000 GROWTH ETF	AT COST	$116,257	$314,935
ISHARES RUSSELL MID CAP ETF	AT COST	$17,368	$120,338
ISHARES TECHNOLOGY ETF	AT COST	$76,635	$519,168
ISHARES US HEALTHCARE ETF	AT COST	$86,439	$195,300
ISHARES US INDUSTRIALS ETF	AT COST	$63,814	$177,804
ISHARES U S MEDICAL DEVICES ETF	AT COST	$71,976	$186,450
SECTOR ENERGY SELECT SECTOR SPDR ETF	AT COST	$73,134	$156,485
SECTOR FINANCIAL SELECT SECTOR SPDR ETF	AT COST	$34,989	$219,080
SECTOR MATERIALS SELECT SECTOR SPDR ETF	AT COST	$22,240	$90,700
SELECT SECTOR COMMUNICATION SERVICES SELECT SECTOR SPDR ETF	AT COST	$51,888	$147,150
SPDR S&P DEVELOPED WORLD EX US ETF	AT COST	$120,289	$266,460
SPDR SERIES TRUST S&P DIVIDEND ETF	AT COST	$94,020	$208,740
VANGUARD COMMUNICATION SERVICES ETF	AT COST	$62,105	$193,630
VANGUARD INDUSTRIALS ETF	AT COST	$16,428	$119,352
VANGUARD INFORMATION TECHNOLOGY ETF	AT COST	$21,740	$489,957
EATON VANCE TAX MANAGED DIVERSIFIED	AT COST	$46,005	$61,360
EATON VANCE TAX MANAGED GLBL DIVERSIFIED	AT COST	$45,453	$57,180

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

Field	Value	IRS element (for citing)
Category	LEGAL FEES	CategoryTxt
Legal Fees	$6,294	LegalFeesAmt
Net Investment Income	$0	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$6,294	DisbursementsCharitablePrpsAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

Field	Value	IRS element (for citing)
Desc	BASIS ADJUSTMENT	Desc
Amt	$12,158	Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDesc	Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
OFFICE SUPPLIES	$578	$0	$578
MN ANNUAL FEE	$25	$0	$25
EXPENSE REIMBURSEMENTS	$154	$0	$154

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

Field	Value	IRS element (for citing)
Category	INVESTMENT MANAGEMENT FEE	CategoryTxt
Amt	$35,123	Amt
Net Investment Income	$35,123	NetInvestmentIncomeAmt
Disbursements Charitable Prps	$0	DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxt	AmtAmt	Net Investment IncomeNetInvestmentIncomeAmt	Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt
FEDERAL EXCISE TAX	$3,505	$0	$0
FOREIGN TAX WITHHELD	$375	$375	$0