Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2011
For calendar year 2011, or tax year beginning 07-01-2011 , and ending 06-30-2012
G
Check all that apply:
Name of foundation
THE HEAD FAMILY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)11100 WAYZATA BOULEVARDROOM/SUITE 230Room/suite
City or town, state, and ZIP code
MINNETONKA, MN55305
A Employer identification number

20-2032551
B Telephone number (see page 10 of the instructions)

(952) 681-2891
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$4,043,169J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,000,000
2 Check bullet
3 Interest on savings and temporary cash investments 126,910 126,910 126,910
4 Dividends and interest from securities...... 46,324 46,324 46,324
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment -22,248
b Gross sales price for all assets on line 6a 328,656
7 Capital gain net income (from Part IV, line 2)... 397
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,150,986 173,631 173,234
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 14,406 7,203   7,203
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions) Click to see attachment 4,699 1,398    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 19,105 8,601   7,203
25 Contributions, gifts, grants paid........ 110,700 110,700
26 Total expenses and disbursements. Add lines 24 and 25 129,805 8,601   117,903
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,021,181
b Net investment income (if negative, enter -0-) 165,030
c Adjusted net income (if negative, enter -0-)... 173,234
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 2,237 48,964 48,964
2 Savings and temporary cash investments.......... 211,734 216,867 216,867
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 1,636,110 Click to see attachment1,605,408 1,605,408
c Investments—corporate bonds (attach schedule)........ 219,690 Click to see attachment171,930 171,930
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........   Click to see attachment2,000,000 2,000,000
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,069,771 4,043,169 4,043,169
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,231 Click to see attachment1,526
23 Total liabilities (add lines 17 through 22).......... 1,231 1,526
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 2,068,540 4,041,643
30 Total net assets or fund balances (see page 17 of the
instructions).................... 2,068,540 4,041,643
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 2,069,771 4,043,169
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 2,068,540
2 Enter amount from Part I, line 27a..................... 2 2,021,181
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 4,089,721
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 48,078
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 4,041,643
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 397
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2010 38,691 1,756,751 0.022024
2009 96,865 1,169,316 0.082839
2008 77,261 751,551 0.102802
2007 96,196 1,026,489 0.093714
2006 73,452 1,029,238 0.071365
2 Total of line 1, column (d) ...................... 2 0.372744
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.074549
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 3,738,591
5 Multiply line 4 by line 3....................... 5 278,708
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,650
7 Add lines 5 and 6......................... 7 280,358
8 Enter qualifying distributions from Part XII, line 4.............. 8 117,903
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2011)
Form 990-PF (2011)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 3,301
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 3,301
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 3,301
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a 1,746
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 5,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,746
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,445
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet3,445 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletMN
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV..........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
    Yes
     
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.HEADFOUNDATION.COM
    14
    The books are in care ofbulletCEANN COMPANY LLC Telephone no.bullet (952) 681-2891
    Located atbullet11100 WAYZATA BOULEVARD SUITE 230MINNETONKAMN ZIP+4bullet55305
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
     
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    MARTHA M HEADClick to see attachment PRESIDENT
    1.00     		0 0 0
    11100 WAYZATA BOULEVARD STE 230
    MINNETONKA,MN55305
    MARTHA E H KIRWINClick to see attachment SECRETARY
    1.00     		0 0 0
    11100 WAYZATA BOULEVARD STE 230
    MINNETONKA,MN55305
    VIRGINIA R HEADClick to see attachment TREASURER
    1.00     		0 0 0
    11100 WAYZATA BOULEVARD STE 230
    MINNETONKA,MN55305
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    3,583,262
    b
    Average of monthly cash balances.......................
    1b
    212,262
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,795,524
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    3,795,524
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    56,933
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,738,591
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    186,930
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    186,930
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
    3,301
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    3,301
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    183,629
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    183,629
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    183,629
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    117,903
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    117,903
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    117,903
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2010     		(c)
    2010     		(d)
    2011
    1 Distributable amount for 2011 from Part XI, line 7 183,629
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006.......  
    b From 2007....... 38,548
    c From 2008....... 40,327
    d From 2009....... 40,511
    e From 2010.......  
    fTotal of lines 3a through e......... 119,386
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 117,903
    a Applied to 2010, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		 
    d Applied to 2011 distributable amount..... 117,903
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2011. 65,726 65,726
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 53,660
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		 
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		53,660
    10 Analysis of line 9:
    a Excess from 2007....  
    b Excess from 2008.... 13,149
    c Excess from 2009.... 40,511
    d Excess from 2010....  
    e Excess from 2011....  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    BRECK SCHOOL
    123 OTTAWA AVENUE NORTH
    MINNEAPOLIS,MN55422     		  CHARITY ASSIST STUDENTS 750
    KENYON COLLEGE
    1 KENYON COLLEGE
    GAMBIER,OH43022     		  CHARITY ASSIST STUDENTS 11,000
    UNITED WAY-GREATER TWIN C
    404 SOUTH EIGHTH STREET
    MINNEAPOLIS,MN55405     		  CHARITY GENERAL SUPPORT 16,500
    AMERICAN CANCER SOCIETY
    501 MINNESOTA AVE
    BRECKENRIDGE,MN56520     		  CHARITY ASSIST CANCER PEOPLE 2,500
    SALVATION ARMY
    PO BOX 131240
    ROSEVILLE,MN55113     		  CHARITY ASSIST PEOPLE IN NEED 4,000
    NATIONAL FEDERATION OF THE BLIND MN
    100 EAST 22ND ST
    MINNEAPOLIS,MN55404     		  CHARITY ASSISTANCE TO THE BLIND 300
    ASHER STUDENT FOUNDATION
    PO BOX 491296
    LOS ANGELES,CA90049     		  CHARITY ASSIST STUDENTS 250
    MN ZOO FOUNDATION
    13000 ZOO BOULEVARD
    APPLE VALLEY,MN55124     		  CHARITY WILDLIFE CONSERVATION AND SUPPORT 300
    MINNETONKA CENTER FOR THE ARTS
    2240 NORTH SHORE DRIVE
    WAYZATA,MN55391     		  CHARITY SUPPORT THE ARTS 300
    BOY SCOUTS OF AMERICA
    PO BOX 152079
    IRVING,TX750152079     		  CHARITY GENERAL SUPPORT 250
    MUSEUM OF LAKE MINNETONKA
    PO BOX 178
    EXCELSIOR,MN55331     		  CHARITY GENERAL SUPPORT 150
    CARINGBRIDGE
    PO BOX 6032
    ALBERT LEA,MN560076632     		  CHARITY GENERAL SUPPORT 500
    CATHOLIC CHARITIES
    1200 2ND AVE S
    MINNEAPOLIS,MN55403     		  CHARITY GENERAL SUPPORT 2,000
    CATO INSTITUTE
    1000 MASSACHUSETTS AVE NW
    WASHINGTON,DC200015403     		  CHARITY GENERAL SUPPORT 100
    CEDARS CAMPS
    1314 PARKVIEW VALLEY
    MANCHESTER,MO63011     		  CHARITY SUPPORT CAMP TUITIONS 750
    CASA MEA
    6705 SHADOW CREST DR
    PLANO,TX75093     		  CHARITY SUPPORT ORPHANS 750
    OBERHOLTZER FOUNDATION
    818 3RD AVE 305
    EXCELSIOR,MN55331     		  CHARITY PROTECTION OF WOODLANDS 600
    SCIENCE MUSEUM OF MINNESOTA
    120 WEST KELLOGG BLVD
    ST PAUL,MN55102     		  CHARITY SUPPORT SCIENCE EDUCATION 250
    PEOPLE FOR PARKS
    PO BOX 24901
    MINNEAPOLIS,MN55424     		  CHARITY PARKLAND CONSERVATION 200
    ARTHRITIS FOUNDATION
    1876 MINNEHAHA AVE W 1
    ST PAUL,MN55104     		  CHARITY SUPPORT ARTHRITIS RESEARCH 300
    PLANNED PARENTHOOD
    434 WEST 33RD STREET
    NEW YORK,NY100012601     		  CHARITY SPPORT REPRODUCTIVE HEALTH 750
    PRINCIPIA
    13201 CLAYTON ROAD
    ST LOUIS,MO63131     		  CHARITY ASSIST STUDENTS 5,000
    PHILLIPS EXETER ACADEMY
    20 MAIN ST
    EXETER,NH038332460     		  CHARITY SUPPORT STUDENTS 200
    LAKE MINNETONKA ASOCIATION
    PO BOX 248
    EXCELSIOR,MN55331     		  CHARITY SUPPORT THE LAKE COMMUNITY 300
    PROJECT FOR PRIDE IN LIVING
    1035 EAST FRANKLIN AVE
    MINNEAPOLIS,MN55404     		  CHARITY SUPPORT PEOPLE IN NEED 500
    KENYON REVIEW
    1 KENYON COLLEGE
    GAMBIER,OH43022     		  CHARITY ASSIST STUDENTS 300
    THE BRIDGE
    2200 EMERSON AVE S
    MINNEAPOLIS,MN55405     		  CHARITY GENERAL SUPPORT 500
    MARY BAKER EDDY LIBRARY
    200 MASSACHUSETTS AVE
    BOSTON,MA02115     		  CHARITY ART APPRECIATION 400
    TREE TRUST
    2350 WYCLIFF STREET 200
    ST PAUL,MN55414     		  CHARITY ASSIST NATURE 300
    PAGE EDUCATION FOUNDATION
    PO BOX 581254
    MINNEAPOLIS,MN554581254     		  CHARITY ASSIST STUDENTS 300
    FRIENDS OF THE BASILLICA OF ST MARY
    PO BOX 50010
    MINNEAPOLIS,MN55405     		  CHARITY GENERAL SUPPORT 250
    CENTER OF THE AMERICAN EXPERIMENT
    12 SOUTH 6TH STREET
    MINNEAPOLIS,MN55402     		  CHARITY GENERAL SUPPORT 700
    CHARITIES REVIEW COUNCIL
    2610 UNIVERSITY AVE WEST
    ST PAUL,MN551142007     		  CHARTIY GENERAL SUPPORT 100
    CHILDRENS THEATRE COMPANY
    2400 3RD AVE S
    MINNEAPOLIS,MN55404     		  CHARITY SUPPRT THEATRE 400
    COLONY FOUNDATION
    PO BOX 89
    NEW HAV EN,CT06501     		  CHARITY GENERAL SUPPORT 600
    COMO ZOO AND CONSERVATORY SOCIETY
    1225 ESTABROOK DR
    ST PAUL,MN55103     		  CHARITY SUPPORT ZOOLOGICAL SOCIETY 250
    CHILDRENS HOSPITALS & CLINICS OF MN
    2910 CENTRE POINT DRIVE
    ROSEVILLE,MN55113     		  CHARITY ASSIST CHILDREN 400
    DOCTORS WITHOUT BOARDERS
    333 SEVENTH AVE
    NEW YORK,NY10001     		  CHARITY ASSIST CHILDREN 300
    DRESS FOR SUCCESS NW MN
    PO BOX 237
    HAWLEY,MN56549     		  CHARITY ASSIST PEOPLE IN NEED 300
    FAMILY AND CHILDRENS SERVICE
    414 SOUTH EIGHTH STREET
    MINNEAPOLIS,MN55404     		  CHARITY ASSIST CHILDREN 500
    COURAGE CENTER
    3915 GOLDEN VALLEY RD
    MINNEAPOLIS,MN55422     		  CHARITY ASSIST LOW INCOME PEOPLE 500
    GIRLSCOUT COUNCIL OF GREATER MPLS
    5601 BROOKLYN BLVD
    BROOKLY CENTER,MN55429     		  CHARITY GENERAL SUPPORT 250
    ASCENTION PLACE INC
    1803 BRYANT AVENUE N
    MINNEAPOLIS,MN55411     		  CHARITY ASSIST PEOPLE IN NEED 300
    GRAYWOLF PRESS
    2402 UNIVERSITY AVE
    ST PAUL,MN55114     		  CHARITY LITERARY APPRECIATION 500
    KENYA CHILDRENS FUND
    PO BOX 4159
    HOPKINS,MN55343     		  CHARITY ASSIST CHILDREN 500
    GREATER MPLS COUNCIL OF CHURCHES
    1001 EAST LAKE STREET
    MINNEAPOLIS,MN55407     		  CHARITY GENERAL SUPPORT 100
    ABBOTT NORTHWESTERN HOSPITAL FOUNDA
    800 E 28TH ST
    MINNEAPOLIS,MN55485     		  CHARITY GENERAL SUPPORT 750
    AAA FOUNDATION
    5400 AUTO CLUB WAY
    MINNEAPOLIS,MN55416     		  CHARITY GENERAL SUPPORT 500
    ARC OF MINNESOTA
    770 TRANSFER ROAD 26
    ST PAUL,MN55114     		  CHARITY ASSIST LOW INCOME PEOPLE 250
    GREATER TWIN CITIES YOUTH SYMPHONIE
    408 ST PETER STREET
    ST PAUL,MN55102     		  CHARITY MUSIC APPRECIATION 250
    JUNGLE THEATRE
    2951 LYNDALE AVE S
    MINNEAPOLIS,MN55408     		  CHARITY ART APPRECIATION 200
    ADVENTURE UNLIMITED
    201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80110     		  CHARITY ASSIST STUDENTS 250
    AMERICAN RED CROSS
    1201 WEST RIVER PKWY
    MINNEAPOLIS,MN55454     		  CHARITY GENERAL SUPPORT 500
    ANIMAL HUMANE SOCIETY
    845 MEADOW LANE N
    GOLDEN VALLEY,MN55422     		  CHARITY ASSIST DOGS IN NEED 200
    GUTHRIE THEATER FOUNDATION
    PO BOX 86
    MINNEAPOLIS,MN55486     		  CHARITY ART APPRECIATION 750
    LONGYEAR MUSEUM
    1125 BOYLSTON ST
    CHESTNUT HILL,MA02467     		  CHARITY GENERAL SUPPORT 400
    GLOBAL DEAF CONNECTION
    38TH AVE S
    MINNEAPOLIS,MN55406     		  CHARITY ASSIST DEAF PEOPLE 250
    MICRO GRANTS
    1035 EAST FRANKLIN AVE
    MINNEAPOLIS,MN55404     		  CHARITY ASSIST LOW INCOME PEOPLE 1,000
    UNIVERSITY OF MINNESOTA FOUNDATION
    PO BOX 7080
    MINNEAPOLIS,MN55170     		  CHARITY ASSIST STUDENTS 7,000
    YWCA OF MINNEAPOLIS
    1130 NICOLLET MALL
    MINNEAPOLIS,MN55403     		  CHARITY GENERAL SUPPORT 300
    LIBRARY FOUNDATION OF HENNEPIN CO
    12601 RIDGEDALE DR
    MINNETONKA,MN55305     		  CHARITY LITERARY APPRECIATION 2,500
    WOMANVENTURE
    2324 UNIVERSITY AVE WEST
    ST PAUL,MN55114     		  CHARITY GENERAL SUPPORT 500
    REACH
    421 5TH ST
    HAWLEY,MN56549     		  CHARITY GENERAL SUPPORT 150
    THE COWLES CENTER FOR DANCE
    528 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		  CHARITY ART APPRECIATION 5,000
    USO
    PO BOX 96322
    WASHINGTON,DC200906322     		  CHARITY SUPPORT THE TROOPS 500
    HOMEWARD BOUND
    PO BOX 1056
    MONTICELLO,MN55362     		  CHARITY SUPPORT DOGS IN NEED 750
    WEISMAN ART MUSEUM
    333 EAST RIVER ROAD
    MINNEAPOLIS,MN55455     		  CHARITY ART APPRECIATION 500
    LEAGUE OF WOMEN VOTERS OF MPLS
    81 S NINTH ST SUITE 335
    MINNEAPOLIS,MN55402     		  CHARITY GENERAL SUPPORT 300
    YALE ALUMNI FUND
    PO BOX 803
    NEW HAVEN,CT06503     		  CHARITY SUPPORT STUDENTS 5,000
    WAYZATA HISTORICAL SOCIETY
    402 EAST LAKE STREET
    WAYZATA,MN55391     		  CHARITY GENERAL SUPPORT 250
    MS SOCIETY - MN
    200 12TH ST S
    MINNEAPOLIS,MN55415     		  CHARITY GENERAL SUPPORT 1,000
    PARK NICOLLET FOUNDATION
    6500 EXCELSIOR BLVD
    ST LOUIS PARK,MN55426     		  CHARITY GENERAL SUPPORT 1,000
    ST PAUL'S SCHOOL FOR BOYS
    11152 FALLS ROAD
    LUTHERVILLETIMONIUM,MD21022     		  CHARITY ASSIST STUDENTS 500
    THE GUILD
    118 NORTH FOURTH AVE
    ANN ARBOR,MI48104     		  CHARITY ART APPRECIATION 600
    BOLDER OPTIONS
    2100 STEVENS AVE S
    MINNEAPOLIS,MN55404     		  CHARITY GENERAL SUPPORT 300
    LFP MN CENTER FOR MEDIA ARTS
    2446 UNIVERSITY AVE W
    ST PAUL,MN55114     		  CHARITY ART APPRECIATION 300
    MINNAPOLIS URBAN LEAGUE
    220 16TH AVE N
    MINNEAPOLIS,MN55411     		  CHARITY GENERAL SUPPORT 550
    TEACH FOR AMERICA TWIN CITIES
    401 2ND AVE N STE 200
    MINNEAPOLIS,MN55401     		  CHARITY GENERAL SUPPORT 1,000
    TUBMAN FAMILY ALLIANCE
    3111 FIRST AVE S
    MINNEAPOLIS,MN55408     		  CHARITY ASSIST FAMILIES IN DISTRESS 500
    MAYO FOUNDATION
    200 1ST ST SW
    ROCHESTER,MN55905     		  CHARITY MEDICAL EDUCATION AND RESEARCH 500
    TWIN CITIES HABITAT FOR HUMANITY
    3001 4TH ST SE
    MINNEAPOLIS,MN55414     		  CHARITY GENERAL SUPPORT 300
    HENNEPIN HISTORY MUSEUM
    2303 3RD AVE S
    MINNEAPOLIS,MN55404     		  CHARITY GENERAL SUPPORT 150
    MINNEAPOLIS INSTITUTE OF ARTS
    2400 3RD AVE S
    MINNEAPOLIS,MN55405     		  CHARITY ART APPRECIATION 5,000
    WALKER ART CENTER
    1750 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		  CHARITY ART APPRECIATION 2,500
    MINNEAPOLIS FOOD SHARE
    1001 EAST LAKE ST
    MINNEAPOLIS,MN554070509     		  CHARITY GENERAL SUPPORT 1,000
    MINNESOTA HISTORICAL SOCIETY
    345 W KELLOGG BLVD
    ST PAUL,MN551021906     		  CHARITY GENERAL SUPPORT 750
    MINNESOTA LANDSCAPE ARBORETUM
    3675 ARBORETUM DRIVE
    CHASKA,MN55318     		  CHARITY GENERAL SUPPORT 200
    MINNESOTA TRANSPORTATION MUSEUM
    193 PENNSYLVANIA AVE E
    ST PAUL,MN55130     		  CHARITY GENERAL SUPPORT 200
    MINNEAPOLIS COMMUNITY AND TECHNICAL
    1501 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		  CHARITY SUPPORT STUDENTS 500
    MINNESOTA PUBLIC RADIO
    480 CEDAR ST
    ST PAUL,MN55101     		  CHARITY GENERAL SUPPORT 3,500
    MINNESOTA VISITING NURSE AGENCY
    3433 BROADWAY ST NE 300
    MINNEAPOLIS,MN55413     		  CHARITY GENERAL SUPPORT 300
    UNITED NEGRO COLLEGE FUND
    PO BOX 1021
    MERRIFIELD,VA22116     		  CHARITY ASSIST STUDENTS 350
    MINNESOTA ORCHESTRA
    1111 NICOLLET MALL
    MINNEAPOLIS,MN55403     		  CHARITY MUSIC APPRECIATION 3,000
    MINNESOTA STREETCAR MUSEUM
    PO BOX 14467
    MINNEAPOLIS,MN554140467     		  CHARITY GENERAL SUPPORT 200
    UNIVERSITY OF MN ALUMNI ASSOCIAION
    200 OAK ST SE STE 200
    MINNEAPOLIS,MN554552040     		  CHARITY GENERAL SUPPORT 1,000
    ZENON DANCE
    528 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		  CHARITY GENERAL SUPPORT 500
    MINNESOTA STATE HORTICULTURAL SOCIE
    2705 LINCOLN DRIVE
    ROSEVILLE,MN55113     		  CHARITY GENERAL SUPPORT 200
    YALE CLASS OF 1952
    PO BOX 803
    NEW HAVEN,CT06503     		  CHARITY GENERAL SUPPORT 500
    Total .................................bullet 3a 110,700
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 126,910  
    4 Dividends and interest from securities....     14 46,324  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     14 -22,248  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   150,986  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13150,986
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2011)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2011
    Name of organization
    THE HEAD FAMILY FOUNDATION
     
    Employer identification number

    20-2032551
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on Part I, line 2, of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 2
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE HEAD FAMILY FOUNDATION
          		Employer identification number

    20-2032551
    Part I
    Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    MARTHA M HEAD    
    1616 W 22ND STREET
       
    MINNEAPOLIS, MN   55405

    		$2,000,000




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 3
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE HEAD FAMILY FOUNDATION
          		Employer identification number

    20-2032551
    Part II
    Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 4
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    THE HEAD FAMILY FOUNDATION
          		Employer identification number

    20-2032551
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    Use duplicate copies of Part III if additional space is needed
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2011 CompensationExplanation
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Person Name Explanation
    MARTHA M HEAD  
    MARTHA E H KIRWIN  
    VIRGINIA R HEAD  

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2011 GainLossSaleOtherAssetsSch
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    200S AMERICAN EXPRESS CO   PURCHASE 2011-07   10,568 8,813     1,755  
    80S MCDONALDS CORP 2010-12 PURCHASE 2011-07   6,845 6,156     689  
    25S SPDR S&P 500 ETF   PURCHASE 2011-07   3,245 3,298     -53  
    225S ISHARES DOW JONES SELECT 2011-05 PURCHASE 2011-08   12,320 13,534     -1,214  
    20S APPLE INC   PURCHASE 2011-08   7,316 6,274     1,042  
    25S SPDR S&P 500 TRUST 2011-07 PURCHASE 2011-08   2,843 3,363     -520  
    193S ISHARES MSCI EAFE 2011-02 PURCHASE 2011-08   10,131 11,608     -1,477  
    535S SCRIPPS NETWORKS INTERACTIVE   PURCHASE 2011-08   22,866 26,955     -4,089  
    30S SPDR S&P 500 TRUST   PURCHASE 2011-08   3,394 3,638     -244  
    773S SCHWAB CHARLES CORP NEW 2008-12 PURCHASE 2011-08   8,649 11,802     -3,153  
    412S SCHWAB CHALES CORP NEW 2008-12 PURCHASE 2011-08   4,669 6,290     -1,621  
    305S WASTE MANAGEMENT INC   PURCHASE 2011-09   9,534 11,429     -1,895  
    410S EXPRESS SCRIPTS INC 2011-06 PURCHASE 2011-10   16,358 23,324     -6,966  
    656S WISDOMETREE JAPAN HEDGED   PURCHASE 2011-11   20,993 25,057     -4,064  
    520S BANK NY MELLON CORP   PURCHASE 2011-11   9,198 14,707     -5,509  
    38S SPDR S&P 500 TRUST 2011-10 PURCHASE 2011-12   4,760 4,418     342  
    25000S VR FED NATL MTG ASSN 2010-01 PURCHASE 2012-01   25,000 24,975     25  
    105S EDISON INTL COM 2011-01 PURCHASE 2012-03   4,436 4,006     430  
    551S ISHARES MSCI JAPAN 2011-11 PURCHASE 2012-04   5,361 5,134     227  
    1708S ISHARES MSCI JAPAN 2011-11 PURCHASE 2012-04   16,463 15,915     548  
    280S WALMART STORES INC   PURCHASE 2012-04   16,235 15,229     1,006  
    970S USB CAPITAL XII 2010-12 PURCHASE 2012-05   24,250 24,096     154  
    480S ISHARES DOWN JONES SELECT   PURCHASE 2012-05   26,273 25,705     568  
    135S ISHARES DOW JONES SELECT   PURCHASE 2012-05   7,389 6,194     1,195  
    190S ISHARES DOW JONES SELECT 2010-09 PURCHASE 2012-05   10,509 8,666     1,843  
    90S LABRATORY CRP OF AMERICA 2011-07 PURCHASE 2012-06   7,619 8,177     -558  
    210S LABORATORY CRP OF AMERICA   PURCHASE 2012-06   17,777 20,884     -3,107  
    90S NESTLE SA 2011-01 PURCHASE 2012-06   5,131 4,979     152  
    80S COLGATE PALMOLIVE CO   PURCHASE 2012-06   8,127 6,278     1,849  

    TY 2011 InvestmentsCorpBondsSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Name of Bond End of Year Book Value End of Year Fair Market Value
    25,000 FED FARM CREDIT BANK 26,286 26,286
    1,000 SPDR BARCLAYS CAPITAL 37,560 37,560
    970 FPL GROUP CAP 25,356 25,356
    1,000 JPMORGAN CHASE & CO 27,130 27,130
    25,000 BURNSVILLE MINN 26,432 26,432
    1035 VODAFONE GROUP PLC 29,166 29,166
    25,000 FED NATL MTG ASSN    
    970 USB CAPITAL XII    

    TY 2011 InvestmentsCorpStockSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Name of Stock End of Year Book Value End of Year Fair Market Value
    470S ACCENTURE LTD 28,242 28,242
    570S AMERICAN EXPRESS CO 33,179 33,179
    650S AMPHENOL CORP 35,698 35,698
    170S APACHE CORP 14,941 14,941
    110S APPLE INC 58,400 58,400
    470S BAXTER INTL INC 24,980 24,980
    320S BERKSHIRE HATHAWAY INC 26,665 26,665
    115S BLACKROCK INC 19,529 19,529
    377S CH ROBINSON WORLDWIDE INC 22,065 22,065
    440S FMC TECHNOLOGIES INC 17,261 17,261
    246S GOLDMAN SACHS GROUP INC 23,582 23,582
    415S ILLINOIS TOOL WORKS INC. 21,949 21,949
    220S INTERCONTINENTALEXCHANGE INC. 29,915 29,915
    380S MCDONALDS CORP 27,887 27,887
    325S MCKESSON CORP 30,469 30,469
    330S NIKE INC 28,967 28,967
    625S NORDSTROM INC. 31,056 31,056
    325S PEPSICO INC 22,964 22,964
    235S PERRIGO CO 27,713 27,713
    195S PRECISION CASTPARTS CORP 32,076 32,076
    425S QUALCOMM INC. 23,664 23,664
    1230S REPUBLIC SERVICES INC 32,546 32,546
    360S SCHLUMBERGER LTD 23,368 23,368
    520S STARWOOD HOTELS & RESORTS WW IN 27,581 27,581
    569S THERMO FISCHER SCIENTIFIC INC 29,537 29,537
    405S UNITED TECHNOLOGIES CORP 30,590 30,590
    772S ABB LTD 12,599 12,599
    495S AFLAC INC 21,082 21,082
    325S BHP BILLITON LIMITED 21,223 21,223
    85S CNOOC-CHINA NATIONAL OFFSHOR 17,106 17,106
    365S DIAGED PLC 37,621 37,621
    478S HSBC 21,094 21,094
    940S KOMATSU JPY 22,125 22,125
    730S NESTLE S.A 43,610 43,610
    492S RECKITT BENCKISTER PLC 25,967 25,967
    400S SAP AG 23,744 23,744
    1835S TAIWAN SEMICONDUCTOR 25,617 25,617
    945S TELEFONICA SA 12,380 12,380
    2985S TESCO PLC 14,516 14,516
    312S TRANSOCEAN 13,956 13,956
    415S ABBOTT LABS 26,755 26,755
    287S CHEVRON CORP 30,279 30,279
    319S COLGATE PALMOLIVE CO 33,208 33,208
    885S CSX CORP 19,789 19,789
    785S EDISON INTL COM 36,267 36,267
    455S HEINZ HJ CO 24,743 24,743
    433S JOHNSON & JOHNSON 29,253 29,253
    310S JP MORGAN CHASE & CO 11,076 11,076
    260S NORTHROP GRUMMAN CORP 16,585 16,585
    809S PAYCHEX INC 25,411 25,411
    225S PNC FINANCIAL SERVICES GRPU 13,750 13,750
    1390S STAPLES INC 18,140 18,140
    300S WAL MART STORES 20,916 20,916
    605S WASTE MANAGEMENT 20,207 20,207
    348S 3M CO 31,181 31,181
    26S SPDR S&P 500 ETF TRUST 3,539 3,539
    420S I SHARES MSCI ALL COUNTRY ASIA 22,096 22,096
    172S I SHARES MSCI EAFE 8,593 8,593
    978S VANGUARD EMERGING MARKETS 39,052 39,052
    625S WISDOMTREE JAPAN HEDGED EQUITY 20,738 20,738
    500S AMEX ENERGY SELECT 33,185 33,185
    1000S AMEX MATERIALS 35,290 35,290
    1000S AMEX UTILITIES 36,990 36,990
    194S I SHARES DOW JONES SELECT 10,901 10,901
    410S EXPRESS SCRIPTS INC    
    1185S SCHWAB CHARLES CORP NEW    
    535S SCRIPPS NETWORKS INTERACTIVE    
    520S BANK NEW YORK MELLON CORP    
    210S LABARATORY CRP OF AMERICA    

    TY 2011 InvestmentsOtherSchedule2
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MINNWEST BANK SUBORDINATED NOTE FMV 2,000,000 2,000,000

    TY 2011 OtherDecreasesSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Description Amount
    UNREALIZED LOSSES 48,078


    TY 2011 OtherLiabilitiesSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Description Beginning of Year - Book Value End of Year - Book Value
    INCOME TAX PAYABLE 1,231 1,526


    TY 2011 OtherProfessionalFeesSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LOWRY HILL FEES 14,406 7,203   7,203


    TY 2011 TaxesSchedule
    Name:
    THE HEAD FAMILY FOUNDATION
    EIN: 20-2032551
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 1,398 1,398    
    EXCISE TAXES FEDERAL 3,301