TY 2011 Form 990PF

- TIN:

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 05-01-2011 , and ending 04-30-2012

Check all that apply:Initial returnInitial return of a former public charityFinal return

Amended returnAddress changeName change

Name of foundation
Larson Foundation

Number and street (or P.O. box number if mail is not delivered to street address)2333 Eastbrook Drive Room/suite

City or town, state, and ZIP code
Brookings, SD57006

A Employer identification number

46-0412311

B Telephone number (see page 10 of the instructions)

(606) 692-6115

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation 2. Foreign organizations meeting the 85% test,
check here and attach computation bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$11,677,306J Accounting method: Cash Accrual
Other (specify)Market Value
(Part I, column (d) must be on cash basis.)

E If private foundation status was terminated
under section 507(b)(1)(A), check here bullet

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here bullet

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	760,000
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	186,452		186,452
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		304,886
b	Gross sales price for all assets on line 6a 2,389,587
7	Capital gain net income (from Part IV, line 2)...			304,886
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).......		-482,215
12	Total. Add lines 1 through 11........	769,123		491,338
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)....
17	Interest...............
18	Taxes (attach schedule) (see page 14 of the instructions)
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	2,650
22	Printing and publications..........
23	Other expenses (attach schedule).......		52,652	52,652
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	55,302		52,652	0
25	Contributions, gifts, grants paid........	797,525			797,525
26	Total expenses and disbursements. Add lines 24 and 25	852,827		52,652	797,525
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-83,704
b	Net investment income (if negative, enter -0-)			438,686
c	Adjusted net income (if negative, enter -0-)...

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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	40,150	4,448	4,448
	2	Savings and temporary cash investments..........	217,471	114,550	114,550
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	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)........	9,375,675	9,418,779	9,418,779
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	2,127,714	2,139,529	2,139,529
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	11,761,010	11,677,306	11,677,306
	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 )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................	11,761,010	11,677,306
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		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
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	11,761,010	11,677,306
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	11,761,010	11,677,306

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	11,761,010
2	Enter amount from Part I, line 27a.....................	2	-83,704
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	11,677,306
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	11,677,306

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.)
1 a	Abbot Labs	P	2005-01-01	2012-02-01
b	Adobe Systems	P
c	Akamai Technologies	P
d	Amazon Com Inc	P
e	AMC Networks Inc	P
	Amgen	P
	Anadarko Petroleum Corp	P
	Anglo American PLC ADR	P
	Annaly Capital Management	P
	Applied Materials Inc	P
	ATT	P
	Autodesk Inc.	P
	AXA UAP ADR	P
	Babcock Wilcox	P
	Baker Hughes	P
	Balliburton Co.	P
	Bank of Nova Scotia	P
	BankAmerica Corp	P
	BASF AG ADR	P
	Bbay Inc.	P
	Bed Bath Beyond	P
	Berkshire Hathaway	P
	BHP Billiton ADR	P
	Biogen IDEC Inc	P
	BNP Paribas ADR	P
	Cablevision Systems CIA	P
	Caterpillar Inc	P
	Cheung Kong Holding ADR	P
	Chubb Corp	P
	Cisco Systems Inc	P
	Citigroup Inc	P
	Coach Inc.	P
	Coca-Cola	P
	ConocoPhillips	P
	Covidien PLC Dublin	P
	Credit Suisse Group ADR	P
	Cummins Inc	P
	CVS Caremark	P
	Deere Co	P
	Dover	P
	Ebay Inc.	P
	Emerson Electric	P
	EOG Resources	P
	Ericsson American Dep Shs	P
	Exxon Mobil	P
	Freeport McMoran Copper	P
	Gap, Inc.	P
	General Electric	P
	Halliburton Co.	P
	Hitachi LTD ADR	P
	Home Depot	P
	Honeywell Inc.	P
	Human Genome Sciences	P
	Huntington Ingalls Industrial	P
	Immunogen Inc	P
	Jones Lang LaSalle	P
	Libeiy Media Corp Class A	P
	Liberty Interactive	P
	Libery Media Corp Class A	P
	Masco Corp	P
	McDermott International	P
	Medtronics	P
	Microsoft Corp	P
	Mitsubishi UFJ Financial	P
	Mosaic Company	P
	Nasdaq OMX Group	P
	National Oilwell Varco	P
	Netapp Inc	P
	Noble Energy	P
	Norfolk Southern Corp	P
	Northrop Grumman Corp	P
	Nvidia Corp	P
	Oxidental Petroleum Corp	P
	Pall Corp	P
	Parker-Hannifin Corp	P
	Pepsico Inc	P
	Polo Ralph Lauren	P
	PPG Industries	P
	Proctor Gamble	P
	Roche Holdings ADR	P
	Royal Dutch Petroleum Co.	P
	Sandisk Corp	P
	Seagate Technology	P
	Siemens AG ADR	P
	Texas Instruments	P
	The DirectTV Group	P
	Toll Brothers Inc	P
	Unilever NV NY	P
	Unitedhealth Group	P
	Vale SA ADR	P
	Vasdaq OMX Group	P
	Visa Inc	P
	Wait Disney Co.	P
	Wal-Mart Stores Inc.	P
	Walt Disney Co.	P
	Yahoo Inc	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	40,919	36,427	4,492
b	18,595	19,905	-1,310
c	20,874	13,998	6,876
d	51,142	7,519	43,623
e	773	151	622
	49,545	51,709	-2,164
	35,033	23,680	11,353
	15,638	20,410	-4,772
	23,489	28,306	-4,817
	35,208	38,359	-3,151
	3,531	2,994	537
	1,962	841	1,121
	11,918	31,726	-19,808
	2,270	2,500	-230
	57,813	54,996	2,817
	11,026	7,322	3,704
	35,076	28,829	6,247
	17,341	37,284	-19,943
	21,266	11,214	10,052
	3,467	3,271	196
	11,542	8,306	3,236
	23,835	16,891	6,944
	38,240	22,559	15,681
	56,126	29,856	26,270
	8,957	24,271	-15,314
	3,364	3,366	-2
	28,740	19,196	9,544
	16,706	19,328	-2,622
	16,206	11,989	4,217
	41,323	37,871	3,452
	23,355	30,868	-7,513
	54,044	45,487	8,557
	28,876	21,485	7,391
	58,842	37,981	20,861
	1,697	1,097	600
	21,021	44,469	-23,448
	80,660	42,425	38,235
	20,567	15,401	5,166
	31,435	32,486	-1,051
	46,189	26,688	19,501
	35,278	28,156	7,122
	21,353	20,022	1,331
	24,667	24,210	457
	10,701	7,161	3,540
	49,123	48,204	919
	30,227	13,474	16,753
	4,955	3,059	1,896
	15,178	34,767	-19,589
	65,208	62,435	2,773
	24,366	19,825	4,541
	36,473	29,442	7,031
	24,698	21,159	3,539
	4,587	6,952	-2,365
	4,833	6,538	-1,705
	320	200	120
	1,669	733	936
	17,068	2,765	14,303
	13,757	17,538	-3,781
	3,267	517	2,750
	2,920	7,961	-5,041
	3,365	3,234	131
	25,750	29,408	-3,658
	30,216	27,169	3,047
	15,402	36,749	-21,347
	15,765	20,212	-4,447
	16,049	21,261	-5,212
	1,282	850	432
	20,185	22,761	-2,576
	32,379	20,772	11,607
	38,295	22,138	16,157
	43,799	39,237	4,562
	48,930	61,081	-12,151
	61,784	33,142	28,642
	8,831	3,435	5,396
	35,903	17,844	18,059
	21,126	18,710	2,416
	41,118	20,378	20,740
	60,874	30,229	30,645
	14,488	13,387	1,101
	44,418	45,218	-800
	54,413	58,365	-3,952
	1,500	1,013	487
	4,647	2,917	1,730
	46,919	39,440	7,479
	17,148	13,201	3,947
	2,301	1,178	1,123
	5,985	7,046	-1,061
	42,350	40,362	1,988
	7,669	3,870	3,799
	43,352	45,854	-2,502
	8,399	11,804	-3,405
	28,456	23,122	5,334
	18,612	16,044	2,568
	27,276	24,877	2,399
	4,049	3,225	824
	37,293	36,589	704

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			4,492
b			-1,310
c			6,876
d			43,623
e			622
			-2,164
			11,353
			-4,772
			-4,817
			-3,151
			537
			1,121
			-19,808
			-230
			2,817
			3,704
			6,247
			-19,943
			10,052
			196
			3,236
			6,944
			15,681
			26,270
			-15,314
			-2
			9,544
			-2,622
			4,217
			3,452
			-7,513
			8,557
			7,391
			20,861
			600
			-23,448
			38,235
			5,166
			-1,051
			19,501
			7,122
			1,331
			457
			3,540
			919
			16,753
			1,896
			-19,589
			2,773
			4,541
			7,031
			3,539
			-2,365
			-1,705
			120
			936
			14,303
			-3,781
			2,750
			-5,041
			131
			-3,658
			3,047
			-21,347
			-4,447
			-5,212
			432
			-2,576
			11,607
			16,157
			4,562
			-12,151
			28,642
			5,396
			18,059
			2,416
			20,740
			30,645
			1,101
			-800
			-3,952
			487
			1,730
			7,479
			3,947
			1,123
			-1,061
			1,988
			3,799
			-2,502
			-3,405
			5,334
			2,568
			2,399
			824
			704

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	304,886
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 . . . . . . . . . . . . .		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? Yes No

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	1,234,699	10,874,400	000.113542
2009	1,307,992	9,396,900	000.139194
2008	1,108,288	9,474,715	000.116973
2007	1,048,742	12,469,115	000.084107
2006	707,959	11,179,750	000.063325

2	Total of line 1, column (d) ......................	2	000.517141
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	000.103428
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	11,391,525
5	Multiply line 4 by line 3.......................	5	1,178,203
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	4,387
7	Add lines 5 and 6.........................	7	1,182,590
8	Enter qualifying distributions from Part XII, line 4..............	8	797,525
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)

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	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	8,774
	hereand 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	8,774
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	8,774
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	19
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	8,793
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If “Yes,” attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If “Yes,” has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If “Yes,” attach the statement required by General Instruction T.

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?................

Yes

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.

Yes

Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) bullet

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 . Click to see attachment

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..........................

Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.

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) .......

Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

Walter Syltie II Telephone no. bullet

(605) 696-6480

Located at bullet

2333 Eastbrook DriveBrookingsSD ZIP+4 bullet

570062838

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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? .................

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)

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?.................YesNo

(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.).........YesNo

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)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?.............

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)):

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?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

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.) .........

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year?.....................YesNo

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.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(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)...YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

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)?

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?............YesNo

If “Yes,” attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay

premiums on a personal benefit contract?....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If “Yes” to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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
Patricia Larson	President 002.00	0
2333 Eastbrook Drive Brookings,SD57006	President 002.00	0
O Dale Larson	Vice President 002.00	0
2333 Eastbrook Drive Brookings,SD57006	Vice President 002.00	0
Maree Larson	Secretary 010.00	0
2333 Eastbrook Drive Brookings,SD57006	Secretary 010.00	0

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










Total number of other employees paid over $50,000...................

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

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	NONE	0
2


3


4

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


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.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

11,550,000

Average of monthly cash balances.......................

15,000

Fair market value of all other assets (see page 24 of the instructions)............

Total (add lines 1a, b, and c).........................

11,565,000

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,565,000

Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25

of the instructions) Click to see attachment

...........................

173,475

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

11,391,525

Minimum investment return. Enter 5% of line 5..................

569,576

Part XI

Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

569,576

Tax on investment income for 2011 from Part VI, line 5......

8,774

Income tax for 2011. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

8,774

Distributable amount before adjustments. Subtract line 2c from line 1............

560,802

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

560,802

Deduction from distributable amount (see page 25 of the instructions)...........

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1................................

560,802

Part XII

Qualifying Distributions (see page 25 of the instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 Click to see attachment

..........

797,525

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

797,525

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)............

Adjusted qualifying distributions. Subtract line 5 from line 4..............

797,525

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)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7			560,802
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.......	653,198
b From 2007.......	438,310
c From 2008.......	636,738
d From 2009.......	840,049
e From 2010.......	694,993
fTotal of lines 3a through e.........		3,263,288
4Qualifying distributions for 2011 from Part
XII, line 4: $ 797,525
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.....			560,802
e Remaining amount distributed out of corpus		236,723
5 Excess distributions carryover applied to 2011.
(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		3,500,011
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) .............		653,198
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		2,846,813
10 Analysis of line 9:
a Excess from 2007....	438,310
b Excess from 2008....	636,738
c Excess from 2009....	840,049
d Excess from 2010....	694,993
e Excess from 2011....	236,723

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

O Dale Larson

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.

None

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see page 28 of the instructions) to individuals or organizations
under other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

Maree Larson
2333 Eastbrook Drive
Brookings,SD57006
(605) 692-6115

bThe form in which applications should be submitted and information and materials they should include:

ask for a Grant Request Form

cAny submission deadlines:

March 1 and September 1 subject to change

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Qualified charitiable or gov orgs. Primarily SD. Primarily fundamental human needs.

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Aberdeen YMCA PO Box Aberdeen,SD57401	None		Youth Development Center	25,000
American Lung Association PO Box Sioux Falls,SD57105	None		Camp FAN Asthma Camp	1,000
Balck Hills Special Svcs PO Box Pierre,SD57501	None		Youth Leadership Program	5,000
Black Hills Playhouse Inc PO Box Rapid City,SD57700	None		Renovations	20,000
Boys Girls Club Brookings PO Box Brookings,SD57006	None		Program Services	90,000
Boys Girls Clubs Black Hills PO Box Rapid City,SD57700	None		Program Services	10,000
Brookings Area Habitat Humanity PO Box Brookings,SD57006	None		Re Store Truck	20,000
Brookings Area United Way PO Box Brookings,SD57006	None		Employee Match	83,301
Brookings School District PO Box Brookings,SD57006	None		Quiz Bowl/Technology	2,400
Brookings School District PO Box Brookings,SD57006	None		Scholarship	4,000
Cheyenne River Youth Project PO Box Eagle Butte,SD57625	None		Holiday Toy Drive	500
Children's Home Society PO Box Sioux Falls,SD57105	None		Construction/Renovation	200,000
Dakota State U Foundation PO Box Madison,SD57042	None		Prairie Valley Reading	1,000
East Central CASA PO Box Brookings,SD57006	None		Program Services	25,000
ECCO Inc PO Box Madison,SD57042	None		Program Services	16,000
Habitat for Humanity SD PO Box Brookings,SD57006	None		Neighborhood Revitalization	32,000
Independent Living Choices PO Box Sioux Falls,SD57105	None		HMAD Program	15,000
Mammoth Site Hot Springs PO Box Hot Springs,SD57747	None		Education Theater	30,000
McCrossan Boys Ranch PO Box Sioux Falls,SD57105	None		Independent Living Home	15,000
Our Daily Bread PO Box Houston,TX77004	None		Employee Match	2,470
Rapid City Club for Boys PO Box Rapid City,SD57700	None		Program Services	15,000
Red Cloud Indian School PO Box Pine Ridge,SD57770	None		Healthy Meals	60,000
Red Cloud Indian School PO Box Pine Ridge,SD57770	None		Red Cloud school trip	2,429
SD Head Start Assoc PO Box Pierre,SD57501	None		Early Childhood Ed	500
SD Parent Connection PO Box Sioux Falls,SD57105	None		Dare to Dream	7,000
SDSU Ag Heritage Museum PO Box Brookings,SD57006	None		National History Day	1,000
Somali Bantu Comm Dev Council PO Box Sioux Falls,SD57105	None		Program Services	25,000
Teddy Bear Den PO Box Flandreau,SD57104	None		Strollers/Bus passes	7,080
Time to Shine Therapy PO Box Sioux Falls,SD57105	None		Tuition Assistance	4,000
Union Gospel Mission PO Box Seattle,WA98118	None		Employee Match	3,160
United Way Freeborn County PO Box Albert Lea,MN56007	None		Employee Match	4,888
United Way Mocksville PO Box Mocksville,NC27028	None		Employee Match	3,099
United Way of N Central Iowa PO Box Mason City,IA50401	None		Employee Match	41,698
Youth Family Services PO Box Rapid City,SD57700	None		Health Connections	25,000
Total ................................. 3a				797,525

bApproved for future payment

Total ................................. 3b

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
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
4 Dividends and interest from securities....			14	186,452
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			18	304,886
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aUnrealized Loss			18	-482,215
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				9,123

13Total. Add line 12, columns (b), (d), and (e)..................

139,123

(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.	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)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section

Yes

501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

If “Yes,” complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

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.

	Signature of officer or trustee	Date	Title

Preparer's Signature	Date	Check if self- employed	PTIN
Firm's name Firm's address		Firm's EIN
		Phone no.

Form 990-PF (2011)

Additional Data

Software ID:	11000218
Software Version:	2011.0.0

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

OMB No. 1545-0047

2011

Name of organization

Larson Foundation

Employer identification number

46-0412311

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

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

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II.

Special Rules

For a section 501(c)(3) organization filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), and received from any one contributor, during the year, a contribution of the
greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For a section 501(c)(7), (8), or (10) organization filing Form 990, or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 for use exclusively for religious, charitable,
scientific, literary, or educational purposes, or the prevention of cruelty to children or animals. Complete Parts I, II, and
III.

For a section 501(c)(7), (8), or (10) organization filing Form 990, or 990-EZ that received from any one contributor,
during the year, contributions for use exclusively for religious, charitable, etc., purposes, but these contributions did
not total to more than $1,000. If this box is checked, enter here the total contributions that were received during
the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule
applies to this organization because it received nonexclusively religious, charitable, etc., contributions of $5,000 or more
during the year. ......................... 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

Name of organization Larson Foundation
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
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
0001	O Dale Larson 2333 Eastbrook Drive Brookings, SD 57006	$760,000	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Page 3

Name of organization Larson Foundation
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
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
Larson Foundation

Employer identification number

46-0412311

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

(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

(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

(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

(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:	11000218
Software Version:	2011.0.0

- TIN:

TY 2011 ExplnOfNonFilingWithAGStmt

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Statement:

Not required in South Dakota

- TIN:

TY 2011 GeneralExplanationAttachment

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Identifier	Return Reference	Explanation

- TIN:

TY 2011 InvestmentsCorpStockSchedule

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Name of Stock	End of Year Book Value	End of Year Fair Market Value
JP Morgan Chase Co	120,903	120,903
AMC Networks Inc	16,246	16,246
ATT	42,289	42,289
Akamai Technologies	43,801	43,801
Allergan Inc	34,560	34,560
Allied World Assurance	56,129	56,129
Amazon Corn Inc	167,896	167,896
Amgen	29,155	29,155
Anadarko Petroleum	119,845	119,845
Anheuser Busch lnbev	48,074	48,074
Apache Corp	74,353	74,353
Apple Inc	33,874	33,874
Applied Materials Inc	69,926	69,926
Autodesk Inc.	49,212	49,212
Axis Capital Holdings	29,427	29,427
Bed Bath Beyond	79,893	79,893
Biogen IDEC Inc	186,274	186,274
Blackrock lnvestmetn	135,830	135,830
Boeing	94,387	94,387
Broadcom Corp Class A	51,752	51,752
CME Group Inc Class A	36,152	36,152
CVS Caremark	76,300	76,300
Cablevision Systems	23,712	23,712
Cameron International	50,174	50,174
Carnival Corp	41,269	41,269
Caterpillar Inc	30,831	30,831
Celgene Corp	99,390	99,390
Charles Schwab Corp	42,826	42,826
Chevron Corp	45,288	45,288
Chubb Corp	63,206	63,206
Citrix Systems Inc	21,831	21,831
Coca-Cola	66,398	66,398
Comcast Corp Class A	148,404	148,404
Covidien PLC Dublin	34,187	34,187
Cree Reasearch Inc.	30,436	30,436
Deere Co	72,065	72,065
Devon Energy Corp	59,372	59,372
Dolby Laboratories Inc	17,967	17,967
Dover	34,463	34,463
EMC Corp	95,350	95,350
EOG Resources	32,394	32,394
Eaton Corp	48,903	48,903
Ebay Inc.	147,467	147,467
Emcor Group	6,890	6,890
Emerson Electric	55,272	55,272
Ericsson American Dep	56,952	56,952
Express Scripts	33,251	33,251
First Republic Bank	13,575	13,575
Fluor Corp	53,996	53,996
Forest Labs	48,274	48,274
Franklin Resources Inc	41,418	41,418
Freeport McMoran	66,374	66,374
Gap, Inc.	36,622	36,622
General Electric	105,967	105,967
Google Inc	109,478	109,478
Greenhill Co Inc	26,923	26,923
Guess Inc	6,734	6,734
Halliburton Co.	55,060	55,060
Hess Corp	61,264	61,264
Hewlett Packard	20,576	20,576
Home Depot	150,450	150,450
Honeywell Inc.	72,792	72,792
Human Genome Sciences	28,684	28,684
IBM Corp	36,239	36,239
ImmunogenInc	13,132	13,132
Intel Corp	41,173	41,173
Intuit Inc	41,449	41,449
Ishares MSCI Asia	43,555	43,555
Isis Pharmaceuticals	7,240	7,240
Jacobs Engineering	13,850	13,850
Johnson Johnson	200,182	200,182
Jones Lang LaSalle	43,168	43,168
Juniper Networks Inc	61,247	61,247
KLA-Tencor Corp	23,930	23,930
Keycorp	31,557	31,557
LasVegas Sands	43,005	43,005
Level 3 Communications	36,770	36,770
Liberty Interactive	48,016	48,016
Libery Media Corp	48,354	48,354
Lowes Corp	472,050	472,050
Mattel, Inc.	44,285	44,285
McDonalds	44,340	44,340
Merck Co	69,651	69,651
Monsanto Co	35,424	35,424
Morgan Stanley	88,595	88,595
Nasdaq OMX Group	23,391	23,391
National Oilwell	72,957	72,957
Netapp Inc	36,612	36,612
Newfield Exploration Co	7,611	7,611
Nike	79,763	79,763
Nucor Corp	38,818	38,818
Osh Kosh Corp	27,328	27,328
PNC Bank	33,492	33,492
Pall Corp	67,359	67,359
Pebblebrook Hotel Trust	25,067	25,067
Pepsico Inc	59,070	59,070
Pfizer Inc	40,075	40,075
Phillip Morris	23,273	23,273
Plantronics Inc	7,166	7,166
Priceline.Com	36,519	36,519
Proctor Gamble	69,113	69,113
Qualcomm Inc	82,915	82,915
Regions Financial	31,846	31,846
Safeway Inc	69,651	69,651
Salesforce.Com	33,482	33,482
Sandisk Corp	42,920	42,920
Schlumberger	172,153	172,153
Seagate Technology	79,976	79,976
Sothebys Delaware	6,370	6,370
Southwestern Energy Co	22,074	22,074
Starbucks	46,757	46,757
Symantec Corp	27,547	27,547
TE Connectivity LTD	36,934	36,934
Texas Instruments	121,851	121,851
The DirectTV Group	40,508	40,508
Thermo Fisher Scientific	48,471	48,471
Time Warner Cable	11,424	11,424
Time Warner Inc.	21,214	21,214
Tyco International	61,743	61,743
U.S. Bancorp Delaware	80,457	80,457
USX U.S. Steel Group	48,274	48,274
Unilever PLC ADR	65,586	65,586
United Parcel Service	53,760	53,760
United Technologies	40,820	40,820
Unitedhealth Group	113,423	113,423
Vertex Pharmaceuticals	18,971	18,971
Visa Inc	122,980	122,980
Walt Disney Co.	112,086	112,086
Weatherford Intl LTD	33,577	33,577
Wells Fargo Co	31,248	31,248
Weyerhaeuser Co	58,454	58,454
Meta Financial Group	242,305	242,305
Wells Financial Corp	36,400	36,400
ABB Ltd ADR	31,607	31,607
ASML Holding NV	23,200	23,200
American Movil SAB	22,652	22,652
BASF AG ADR	39,064	39,064
BHP Billiton ADR	27,417	27,417
Baidu Inc ADR	37,156	37,156
Banco Bradesco ADR	20,037	20,037
Banco Santander ADR	15,224	15,224
Barclays PLC ADR	21,360	21,360
CNOOC LTD ADR	38,097	38,097
Cenovus Energy Corp	40,600	40,600
Companhia De Bebidas	23,299	23,299
Fanuc Corp	32,292	32,292
GlaxoSmithkline PLC	73,968	73,968
HSBC Holdings PLC	27,328	27,328
Honda Motor Co LTD	32,436	32,436
Ishares FTSE China 25	58,776	58,776
L Oreal ADR	20,640	20,640
LVMH Moet Hennessy	32,944	32,944
Nestle SA ADR	48,912	48,912
Novartis AG ADR	62,066	62,066
Rio Tinto PLC-GBP	53,266	53,266
SAP Aklengesellschaft	33,808	33,808
Sanofi-Adventis ADR	43,907	43,907
Sumitomo Mitsui Financial	32,895	32,895
Vodafone Group Plc	53,553	53,553
Cisco Systems Inc	172,023	172,023
Microsoft Corp	188,088	188,088
Oracle Systems	108,398	108,398

- TIN:

TY 2011 InvestmentsOtherSchedule2

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Growth Fund of America - Mutual Fund	FMV	2,139,529	2,139,529

- TIN:

TY 2011 OtherExpensesSchedule

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Fees	52,652	52,652

- TIN:

TY 2011 OtherIncomeSchedule2

Name:

Larson Foundation

EIN: 46-0412311

Software ID:11000218

Software Version:2011.0.0

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Unrealized Loss	-486,688
Fed tax refund	4,473