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
2012
Open to Public Inspection
For calendar year 2012, or tax year beginning 01-01-2012 , and ending 12-31-2012
Name of foundation
KATE L DUNWOODY TR UW 35007750
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES   Room/suite
City or town, state, and ZIP code
ST PAUL, MN551640713
A Employer identification number

41-6014903
B Telephone number (see instructions)

(612) 303-3205
C bullet
G Check all that apply:

D 1. bullet
2. bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$9,452,447J 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 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 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 266,703 266,703  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 75,724
b Gross sales price for all assets on line 6a 2,294,515
7 Capital gain net income (from Part IV, line 2)... 75,724
8 Net short-term capital gain......... 0
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........ 342,427 342,427  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 61,108 48,436   12,672
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions) Click to see attachment 23,108 5,072   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 1,501 1,421   80
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 85,717 54,929 0 12,752
25 Contributions, gifts, grants paid........ 440,159 440,159
26 Total expenses and disbursements. Add lines 24 and 25 525,876 54,929 0 452,911
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -183,449
b Net investment income (if negative, enter -0-) 287,498
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2012)
Form 990-PF (2012)
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 Savings and temporary cash investments.......... 333,488 202,210 202,210
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
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)........ 6,053,783 Click to see attachment5,660,876 6,361,074
c Investments—corporate bonds (attach schedule)........ 2,513,000 Click to see attachment2,850,532 2,878,472
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 1 Click to see attachment1 1
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment6,025 Click to see attachment10,690 Click to see attachment10,690
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 8,906,297 8,724,309 9,452,447
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 attachment417 Click to see attachment1,869
23 Total liabilities (add lines 17 through 22).......... 417 1,869
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......... 2,739,098 2,739,098
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 6,166,782 5,983,342
30 Total net assets or fund balances (see page 17 of the
instructions).................... 8,905,880 8,722,440
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 8,906,297 8,724,309
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 8,905,880
2 Enter amount from Part I, line 27a..................... 2 -183,449
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 9
4 Add lines 1, 2, and 3.......................... 4 8,722,440
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 8,722,440
Form 990-PF (2012)
Form 990-PF (2012)
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 223. DOVER CORP   2011-08-16 2012-01-11
b 60. UNION PACIFIC CORP   2011-08-16 2012-01-11
c 97. SEADRILL LIMITED   2011-08-24 2012-01-20
d 198. COMPANHIA DE BEBIDAS P R A D R   2011-08-16 2012-01-24
e 668. THOMSON REUTERS CORP   2011-11-08 2012-02-07
158. ABBOTT LABORATORIES   2011-08-16 2012-02-09
168. J P MORGAN CHASE & CO   2011-08-16 2012-02-09
142. LEGGETT PLATT INC   2011-12-21 2012-02-09
783. MTN GROUP LTD A D R   2011-08-16 2012-02-09
221. DASSAULT SYSTEMES SA A D R   2011-08-16 2012-02-16
.128 SOUTHERN COPPER CORP DEL   2011-08-24 2012-02-29
289. PEPSICO INC   2011-08-16 2012-03-01
217. PRAXAIR INC   2011-08-16 2012-03-01
232. KINDER MORGAN INC   2011-11-29 2012-03-16
113. MICROSOFT CORP   2011-11-08 2012-03-16
490. RAYTHEON COMPANY   2011-08-16 2012-03-16
488. CARNIVAL CORP   2011-08-16 2012-03-28
475. ORACLE CORPORATION   2011-08-16 2012-03-28
930. CHINA RES ENTERPRISE LTD A D R   2011-08-16 2012-04-03
519. CHINA RES ENTERPRISE LTD A D R   2011-08-16 2012-04-04
395. CHINA RES ENTERPRISE LTD A D R   2011-08-16 2012-04-05
106. AFLAC INC   2012-03-16 2012-04-11
138. PACCAR INC   2011-10-12 2012-04-11
63. PHILIP MORRIS INTL   2011-08-16 2012-04-11
88. YUM BRANDS INC   2011-08-16 2012-04-11
. NET SETTLEMENT FROM CLASS ACTION SUIT     2012-04-17
147. NETEASE INC A D R   2011-08-16 2012-04-18
279. TEVA PHARMACEUTICAL INDS LTD A D R   2011-08-16 2012-04-18
513. WAL MART DE MEXICO SAB DE CV A D R   2011-08-16 2012-04-25
298. E M C CORPORATION   2011-08-16 2012-05-03
419. ORACLE CORPORATION   2011-08-16 2012-05-03
38611.714 CREDIT SUISSE COMM RET ST CO   2011-08-15 2012-05-04
407. CARNIVAL CORP   2011-08-16 2012-05-10
527. WAL MART DE MEXICO SAB DE CV A D R   2011-08-16 2012-05-10
1062. LEGGETT PLATT INC   2011-12-21 2012-05-11
167. ACCENTURE PLC CL A   2012-03-16 2012-05-11
421. AFLAC INC   2011-08-16 2012-05-17
955. ABB LTD A D R   2011-08-16 2012-05-18
94. MCDONALDS CORP   2011-08-16 2012-05-18
270. JUPITER TELECOM A D R   2011-08-16 2012-05-24
10. ATT INC   2011-08-16 2012-06-25
2. ABBOTT LABORATORIES   2012-05-11 2012-06-25
11. AMERISOURCEBERGEN CORP   2011-08-16 2012-06-25
4. BLACKROCK INC   2011-08-16 2012-06-25
2. CHEVRON CORPORATION   2011-08-16 2012-06-25
3. COCA COLA COMPANY   2012-03-23 2012-06-25
16. CULLEN FROST BANKERS INC   2011-08-16 2012-06-25
24. EQUITABLE CORP   2011-08-16 2012-06-25
19. EATON CORP   2012-03-16 2012-06-25
20. EMERSON ELEC CO   2012-05-24 2012-06-25
27. FIDELITY NATL INFORMATION SVCS INC   2012-03-16 2012-06-25
1. INTERNATIONAL BUSINESS MACHS CORP   2011-08-16 2012-06-25
6. ITC HLDGS CORP   2011-08-24 2012-06-25
31. J P MORGAN CHASE & CO   2011-08-16 2012-06-25
4. LORILLARD INC   2012-05-24 2012-06-25
20. MICROSOFT CORP   2011-11-08 2012-06-25
46. MICROCHIP TECHNOLOGY INC   2012-05-11 2012-06-25
19. MOTOROLA SOLUTIONS INC   2012-02-09 2012-06-25
55. NEW YORK COMMUNITY BANCORP INC   2011-08-16 2012-06-25
15. NEXTERA ENERGY INC   2011-08-16 2012-06-25
4320.691 NUVEEN REAL ESTATE SECS I   2011-08-15 2012-06-25
25. ONEOK INC   2011-08-16 2012-06-25
4. PACCAR INC   2011-10-12 2012-06-25
12. PFIZER INC   2011-08-16 2012-06-25
4. PHILIP MORRIS INTL   2011-08-16 2012-06-25
19. PROCTER & GAMBLE CO   2011-08-16 2012-06-25
12. QUALCOMM INC   2011-08-16 2012-06-25
2. ROYAL DUTCH SHELL PLC A D R   2011-08-16 2012-06-25
17. SOUTHERN COPPER CORP DEL   2011-08-24 2012-06-25
14. TIME WARNER CABLE INC   2012-03-16 2012-06-25
6. UNION PACIFIC CORP   2011-08-16 2012-06-25
17. WELLS FARGO & CO NEW   2012-06-20 2012-06-25
19. YUM BRANDS INC   2011-08-16 2012-06-25
9. ACCENTURE PLC CL A   2011-08-16 2012-06-25
30. SEADRILL LIMITED   2012-05-11 2012-06-25
.2 AIR LIQUIDE S A A D R   2011-08-16 2012-07-03
355. PROCTER & GAMBLE CO   2011-08-16 2012-07-12
273. ERSTE GROUP BANK AG A D R   2011-08-16 2012-07-17
2348. ERSTE GROUP BANK AG A D R   2012-01-04 2012-07-18
124. CERNER CORPORATION   2011-08-16 2012-07-20
522. COMPANHIA DE BEBIDAS P R A D R   2011-08-16 2012-07-20
448. HALLIBURTON CO   2011-08-16 2012-07-20
690. CANON INC SPONS A D R   2011-08-16 2012-07-31
201. MCDONALDS CORP   2011-08-16 2012-07-31
544. MICROSOFT CORP   2011-08-16 2012-08-07
143. VARIAN MED SYS INC   2011-08-16 2012-08-07
151. MICROCHIP TECHNOLOGY INC   2012-05-11 2012-08-14
87. MOTOROLA SOLUTIONS INC   2012-02-09 2012-08-14
127. PIONEER NAT RES CO   2011-08-16 2012-08-14
329. DU PONT E I DE NEMOURS & CO   2011-08-17 2012-08-21
20. CNOOC LTD A D R   2011-12-09 2012-09-04
58. CNOOC LTD A D R   2011-08-16 2012-09-04
467. AFLAC INC   2011-08-16 2012-09-06
888. CISCO SYS INC   2012-03-28 2012-09-06
20. PRICELINE COM INC   2011-08-16 2012-09-06
128. NIKE INC   2011-08-16 2012-09-19
328.425 ABERDEEN FDS EMRGN   2011-08-15 2012-09-24
577.154 INV BALANCE RISK COMM STR Y   2012-05-04 2012-09-24
1364.358 DRIEHAUS ACTIVE INCOME FUND   2011-08-15 2012-09-24
134.968 GOLDMAN SACHS M C VALUE CL INST   2011-08-15 2012-09-24
1342.822 PYXIS LONG SHORT EQUITY Z   2011-08-15 2012-09-24
116.958 NEUBERGER BERMAN GENESIS INSTL FD   2011-08-15 2012-09-24
278. NOVARTIS AG A D R   2011-08-16 2012-09-24
1048.594 NUVEEN HIGH INCOME BOND FD CL I   2011-08-15 2012-09-24
779.045 NUVEEN REAL ESTATE SECS I   2011-08-15 2012-09-24
139.563 OPPENHEIMER DEVELOPING MKTS FDS CL Y   2011-08-15 2012-09-24
1834.876 PIMCO TOTAL RETURN FUND INST   2011-08-15 2012-09-24
80.308 ROWE T PRICE MID-CAP GROWTH FD #64   2011-08-15 2012-09-24
150. ATT INC   2011-08-16 2012-10-02
74. ABBOTT LABORATORIES   2011-08-16 2012-10-02
46. ALLERGAN INC   2011-08-16 2012-10-02
6. AMAZON COM INC   2011-08-16 2012-10-02
104. AMERISOURCEBERGEN CORP   2011-08-16 2012-10-02
38. AMERIPRISE FINL INC   2011-08-16 2012-10-02
15. ANADARKO PETROLEUM CORP   2011-08-16 2012-10-02
49. ANHEUSER BUSCH INBEV NV A D R   2012-07-20 2012-10-02
5. APPLE INC   2012-04-11 2012-10-02
67. ARM HLDGS PLC A D R   2012-09-26 2012-10-02
28. BAIDU COM INC A D R   2012-04-18 2012-10-02
18. BLACKROCK INC   2011-08-16 2012-10-02
34. BORG WARNER INC   2011-08-16 2012-10-02
21. BROADCOM CORP CL A   2011-10-19 2012-10-02
70. CVS CAREMARK CORP   2012-07-12 2012-10-02
42. CAMERON INTL CORP   2011-08-16 2012-10-02
23. CATERPILLAR INC   2011-08-16 2012-10-02
33. CATERPILLAR INC   2011-08-16 2012-10-02
28. CELGENE CORP   2011-08-16 2012-10-02
41. CERNER CORPORATION   2011-08-16 2012-10-02
16. CHEVRON CORPORATION   2011-08-17 2012-10-02
48. CHEVRON CORPORATION   2011-08-16 2012-10-02
129. COCA COLA COMPANY   2011-08-16 2012-10-02
39. COGNIZANT TECH SOLUTIONS CL A   2011-08-16 2012-10-02
57. CULLEN FROST BANKERS INC   2011-08-16 2012-10-02
86. DANAHER CORP   2011-08-16 2012-10-02
22. DEERE & CO   2011-12-21 2012-10-02
48. DIAGEO PLC SPONSORED A D R   2011-08-16 2012-10-02
48. DISNEY WALT CO   2011-08-16 2012-10-02
59. DIRECTV   2011-08-16 2012-10-02
45. DOLLAR GENERAL CORP   2012-08-14 2012-10-02
20. DOVER CORP   2011-08-16 2012-10-02
112. E M C CORPORATION   2011-08-16 2012-10-02
69. EQUITABLE CORP   2011-08-16 2012-10-02
26. EATON CORP   2012-03-16 2012-10-02
29. EATON CORP   2011-08-16 2012-10-02
61. E BAY INC   2011-08-16 2012-10-02
60. EMERSON ELEC CO   2011-08-16 2012-10-02
27. EQUINIX INC   2011-08-31 2012-10-02
25. EXPRESS SCRIPTS HLDGS C   2011-08-16 2012-10-02
86. FIDELITY NATL INFORMATION SVCS INC   2012-03-16 2012-10-02
36. FLUOR CORP   2011-08-16 2012-10-02
16. FLOWSERVE CORP   2011-08-16 2012-10-02
106. THE GAP INC   2012-03-28 2012-10-02
10. GOOGLE INC CL A   2011-08-16 2012-10-02
18. INTERNATIONAL BUSINESS MACHS CORP   2011-08-16 2012-10-02
21. INTERNATIONAL BUSINESS MACHS CORP   2011-08-16 2012-10-02
150. ISHARES DOW JONES REGIONAL BK IN FD   2012-07-20 2012-10-02
36. ITC HLDGS CORP   2011-08-24 2012-10-02
111. J P MORGAN CHASE & CO   2011-08-16 2012-10-02
102. KINDER MORGAN INC   2011-10-04 2012-10-02
105. LAUDER ESTEE COS INC CL A   2011-08-16 2012-10-02
3. LORILLARD INC   2011-08-16 2012-10-02
33. LORILLARD INC   2012-05-24 2012-10-02
35. LULULEMON ATHLETICA INC   2012-06-11 2012-10-02
70. MCCORMICK CO INC   2011-08-16 2012-10-02
95. MICROSOFT CORP   2011-08-16 2012-10-02
164. MICROSOFT CORP   2011-08-16 2012-10-02
120. MICROCHIP TECHNOLOGY INC   2011-08-16 2012-10-02
18. MONSANTO CO   2012-08-21 2012-10-02
69. MOTOROLA SOLUTIONS INC   2012-02-09 2012-10-02
50. NETEASE INC A D R   2011-08-16 2012-10-02
328. NEW YORK COMMUNITY BANCORP INC   2011-08-16 2012-10-02
58. NEXTERA ENERGY INC   2011-08-16 2012-10-02
18. NIKE INC   2011-08-16 2012-10-02
25. NOVO NORDISK AS A D R   2011-08-16 2012-10-02
60. ONEOK INC   2011-08-16 2012-10-02
47. PACCAR INC   2011-08-16 2012-10-02
214. PFIZER INC   2011-08-16 2012-10-02
54. PHILIP MORRIS INTL   2011-08-16 2012-10-02
20. PIONEER NAT RES CO   2011-08-16 2012-10-02
3. PRICELINE COM INC   2011-08-16 2012-10-02
70. QUALCOMM INC   2011-08-16 2012-10-02
61. QUALCOMM INC   2012-09-19 2012-10-02
47. ROCKWELL AUTOMATION INC   2012-03-01 2012-10-02
64. ROYAL DUTCH SHELL PLC A D R   2011-08-16 2012-10-02
77. SCHEIN HENRY INC   2011-08-16 2012-10-02
36. SCHLUMBERGER LTD   2011-08-16 2012-10-02
150. SOUTHERN COPPER CORP DEL   2011-08-24 2012-10-02
521. TEXAS INSTRUMENTS INC   2011-08-16 2012-10-02
69. THERMO FISHER SCIENTIFIC INC   2011-08-16 2012-10-02
49. TIME WARNER CABLE INC   2012-03-16 2012-10-02
29. UNION PACIFIC CORP   2011-08-16 2012-10-02
17. UNION PACIFIC CORP   2011-08-16 2012-10-02
33. UNITED TECHNOLOGIES CORP   2012-01-11 2012-10-02
30. V F CORP   2011-08-16 2012-10-02
12. V F CORP   2012-09-19 2012-10-02
43. VARIAN MED SYS INC   2011-08-16 2012-10-02
15. VMWARE INC CL A   2012-05-03 2012-10-02
93. WALGREEN CO   2012-09-06 2012-10-02
140. WELLS FARGO & CO NEW   2012-06-20 2012-10-02
48. WILLIAMS SONOMA INC   2012-03-05 2012-10-02
63. YUM BRANDS INC   2011-08-16 2012-10-02
37. YUM BRANDS INC   2012-07-31 2012-10-02
66. ACCENTURE PLC CL A   2011-08-16 2012-10-02
63. ACCENTURE PLC CL A   2011-08-16 2012-10-02
34. MICHAEL KORS HOLDINGS LLD   2012-08-07 2012-10-02
105. SEADRILL LIMITED   2011-08-24 2012-10-02
878. PETROLEO BRASILEIRO SPON A D R   2011-08-16 2012-10-04
598. AMERISOURCEBERGEN CORP   2011-08-16 2012-10-05
12152.619 DRIEHAUS ACTIVE INCOME FUND   2011-08-15 2012-10-08
1287.996 GOLDMAN SACHS M C VALUE CL INST   2011-08-15 2012-10-08
16267.123 PYXIS LONG SHORT EQUITY Z   2011-08-15 2012-10-08
8315.63 PIMCO TOTAL RETURN FUND INST   2011-08-15 2012-10-08
674.992 ROWE T PRICE MID-CAP GROWTH FD #64   2011-08-15 2012-10-08
184. DOVER CORP   2011-08-16 2012-10-09
. NET SETTLEMENT FROM CLASS ACTION SUIT     2012-10-25
616. MICROSOFT CORP   2011-08-16 2012-10-26
124. NIKE INC   2011-08-16 2012-10-26
191. BAIDU COM INC A D R   2012-09-26 2012-11-06
156. NETEASE INC A D R   2011-10-19 2012-11-20
114. CATERPILLAR INC   2011-08-16 2012-11-27
410. EATON CORP   2011-08-16 2012-12-03
2. HOYA CORP A D R   2012-08-01 2012-12-03
1157. HOYA CORP A D R   2011-08-16 2012-12-04
534. HOYA CORP A D R   2012-10-05 2012-12-04
259. ARM HLDGS PLC A D R   2011-08-16 2012-12-13
. COMPANHIA DE BEBIDAS P R A D R   2012-01-27 2012-12-31
CAPITAL GAIN DIVIDENDS P    
(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 13,208   12,238 970
b 6,709   5,483 1,226
c 3,448   2,979 469
d 7,312   6,526 786
e 18,177   20,942 -2,765
8,720   7,889 831
6,372   6,045 327
3,088   3,259 -171
13,800   15,425 -1,625
17,990   17,472 518
4   4  
18,064   18,412 -348
23,665   21,457 2,208
8,362   6,523 1,839
3,706   3,069 637
25,512   20,031 5,481
15,713   15,343 370
13,965   13,048 917
6,254   7,859 -1,605
3,429   4,386 -957
2,686   3,338 -652
4,504   4,397 107
5,796   5,382 414
5,515   4,273 1,242
6,156   4,504 1,652
25     25
8,653   7,157 1,496
12,627   11,262 1,365
14,116   12,807 1,309
8,477   6,821 1,656
12,343   11,510 833
306,577   356,000 -49,423
12,859   12,837 22
13,514   13,157 357
21,975   21,867 108
9,808   9,679 129
16,970   15,657 1,313
15,313   20,484 -5,171
8,473   8,149 324
18,168   21,060 -2,892
348   288 60
124   125 -1
414   423 -9
668   643 25
198   195 3
224   215 9
887   796 91
1,220   1,343 -123
705   965 -260
890   958 -68
878   892 -14
193   171 22
401   452 -51
1,095   1,115 -20
515   510 5
595   515 80
1,473   1,480 -7
888   911 -23
672   718 -46
1,003   818 185
89,611   81,099 8,512
1,038   849 189
150   156 -6
269   220 49
337   271 66
1,128   1,170 -42
645   609 36
129   131 -2
507   526 -19
1,078   1,114 -36
681   548 133
547   555 -8
1,241   972 269
509   491 18
983   1,080 -97
5   5  
22,633   21,864 769
2,448   5,253 -2,805
21,170   37,817 -16,647
9,609   7,228 2,381
19,369   17,198 2,171
13,720   20,424 -6,704
23,040   32,298 -9,258
17,988   17,425 563
16,454   13,741 2,713
8,063   8,094 -31
5,307   4,632 675
4,158   4,169 -11
12,353   9,986 2,367
16,682   15,683 999
3,713   3,849 -136
10,769   11,179 -410
22,062   17,363 4,699
17,280   18,559 -1,279
12,148   9,849 2,299
12,810   10,666 2,144
4,917   4,509 408
6,435   6,297 138
14,285   14,462 -177
5,250   4,509 741
15,778   14,462 1,316
5,906   5,423 483
17,043   15,521 1,522
9,437   9,039 398
17,014   14,623 2,391
4,694   4,509 185
21,230   20,312 918
4,786   4,509 277
5,664   4,315 1,349
5,073   3,695 1,378
4,262   3,466 796
1,495   1,180 315
4,036   4,000 36
2,140   1,705 435
1,054   1,072 -18
4,333   3,818 515
3,268   3,170 98
1,855   1,842 13
3,128   4,129 -1,001
3,169   2,894 275
2,417   2,392 25
710   791 -81
3,385   3,343 42
2,339   2,000 339
1,942   2,046 -104
2,786   2,933 -147
2,185   1,565 620
3,194   2,390 804
1,880   1,581 299
5,637   4,683 954
4,930   4,385 545
2,766   2,434 332
3,249   2,835 414
4,778   3,785 993
1,805   1,678 127
5,441   3,748 1,693
2,471   1,597 874
3,061   2,583 478
2,307   2,362 -55
1,164   1,098 66
3,023   2,564 459
4,112   3,860 252
1,208   1,321 -113
1,348   1,226 122
2,926   1,847 1,079
2,872   2,758 114
5,416   2,597 2,819
1,584   1,195 389
2,653   2,843 -190
2,036   2,134 -98
2,035   1,439 596
3,825   2,792 1,033
7,520   5,375 2,145
3,756   3,074 682
4,390   3,582 808
3,805   3,632 173
2,716   2,709 7
4,529   3,994 535
3,602   2,557 1,045
6,582   4,926 1,656
349   316 33
3,839   4,210 -371
2,653   2,220 433
4,406   3,237 1,169
2,804   2,400 404
4,849   4,143 706
3,979   3,586 393
1,627   1,598 29
3,464   3,278 186
2,720   2,434 286
4,690   4,284 406
4,074   3,164 910
1,708   1,500 208
4,011   2,772 1,239
2,887   2,038 849
1,912   1,761 151
5,341   3,923 1,418
4,939   3,662 1,277
2,078   1,573 505
1,838   1,477 361
4,315   3,551 764
3,756   3,952 -196
3,225   3,835 -610
4,470   4,184 286
6,058   4,822 1,236
2,589   2,808 -219
5,164   4,524 640
14,373   14,036 337
4,102   3,726 376
4,816   3,899 917
3,449   2,647 802
2,020   1,554 466
2,581   2,512 69
4,805   3,358 1,447
1,922   1,929 -7
2,607   2,434 173
1,424   1,703 -279
3,414   3,253 161
4,852   4,570 282
2,116   1,836 280
4,179   3,224 955
2,451   2,407 44
4,609   3,599 1,010
4,396   3,436 960
1,793   1,498 295
4,200   3,186 1,014
19,089   23,170 -4,081
23,534   22,999 535
127,724   128,818 -1,094
49,897   43,032 6,865
189,187   175,197 13,990
96,544   92,054 4,490
39,892   37,901 1,991
10,356   10,097 259
217     217
17,297   15,560 1,737
11,298   10,333 965
20,116   24,922 -4,806
6,968   7,104 -136
9,626   10,140 -514
21,386   17,427 3,959
38   45 -7
22,149   25,917 -3,768
10,223   11,933 -1,710
9,316   6,631 2,685
8     8
      1,353
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       970
b       1,226
c       469
d       786
e       -2,765
      831
      327
      -171
      -1,625
      518
       
      -348
      2,208
      1,839
      637
      5,481
      370
      917
      -1,605
      -957
      -652
      107
      414
      1,242
      1,652
      25
      1,496
      1,365
      1,309
      1,656
      833
      -49,423
      22
      357
      108
      129
      1,313
      -5,171
      324
      -2,892
      60
      -1
      -9
      25
      3
      9
      91
      -123
      -260
      -68
      -14
      22
      -51
      -20
      5
      80
      -7
      -23
      -46
      185
      8,512
      189
      -6
      49
      66
      -42
      36
      -2
      -19
      -36
      133
      -8
      269
      18
      -97
       
      769
      -2,805
      -16,647
      2,381
      2,171
      -6,704
      -9,258
      563
      2,713
      -31
      675
      -11
      2,367
      999
      -136
      -410
      4,699
      -1,279
      2,299
      2,144
      408
      138
      -177
      741
      1,316
      483
      1,522
      398
      2,391
      185
      918
      277
      1,349
      1,378
      796
      315
      36
      435
      -18
      515
      98
      13
      -1,001
      275
      25
      -81
      42
      339
      -104
      -147
      620
      804
      299
      954
      545
      332
      414
      993
      127
      1,693
      874
      478
      -55
      66
      459
      252
      -113
      122
      1,079
      114
      2,819
      389
      -190
      -98
      596
      1,033
      2,145
      682
      808
      173
      7
      535
      1,045
      1,656
      33
      -371
      433
      1,169
      404
      706
      393
      29
      186
      286
      406
      910
      208
      1,239
      849
      151
      1,418
      1,277
      505
      361
      764
      -196
      -610
      286
      1,236
      -219
      640
      337
      376
      917
      802
      466
      69
      1,447
      -7
      173
      -279
      161
      282
      280
      955
      44
      1,010
      960
      295
      1,014
      -4,081
      535
      -1,094
      6,865
      13,990
      4,490
      1,991
      259
      217
      1,737
      965
      -4,806
      -136
      -514
      3,959
      -7
      -3,768
      -1,710
      2,685
      8
       
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 75,724
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 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))
2011 455,258 8,834,634 0.051531
2010 461,717 8,760,283 0.052706
2009 473,104 8,345,588 0.056689
2008 473,116 8,735,621 0.054159
2007      
2 Total of line 1, column (d) ...................... 2 0.215085
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 0.053771
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4 4,217,233
5 Multiply line 4 by line 3....................... 5 226,765
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,875
7 Add lines 5 and 6......................... 7 229,640
8 Enter qualifying distributions from Part XII, line 4.............. 8 452,911
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.
Form 990-PF (2012)
Form 990-PF (2012)
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 2,875
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 0
3 Add lines 1 and 2............................ 3 2,875
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 2,875
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 6,735
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,735
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
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 3,860
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet719 Refunded Bullet 11 3,141
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 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 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?
    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
     
    No
    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 instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK NATIONAL ASSOCIATION Telephone no.bullet (612) 303-3205
    Located atbullet800 NICOLLET MALLMINNEAPOLISMN ZIP+4bullet55402
    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 2012, 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
     
    No
    See 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 (2012)
    Form 990-PF (2012)
    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
     
    No
    .........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 2012?.............
    1c
     
    No
    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 2012, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2012?...............
    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 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 2012 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 2012.)....................
    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 2012?
    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 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 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 (2012)
    Form 990-PF (2012)
    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 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
    US BANK NATIONAL ASSOC CORP TRUSTEE
    8     		61,108    
    PO BOX 64713
    ST PAUL,MN55101
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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 0
    3 Five highest-paid independent contractors for professional services (see 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.............bullet0
    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 (2012)
    Form 990-PF (2012)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see 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 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
    4,171,148
    b
    Average of monthly cash balances.......................
    1b
    110,306
    c
    Fair market value of all other assets (see instructions)................
    1c
    1
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,281,455
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    4,281,455
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) .............................
    4
    64,222
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,217,233
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    210,862
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    210,862
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
    2,875
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,875
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    207,987
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    207,987
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    207,987
    Part XII
    Qualifying Distributions (see 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
    452,911
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    452,911
    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 instructions).................
    5
    2,875
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    450,036
    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 (2012)
    Form 990-PF (2012)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2011     		(c)
    2011     		(d)
    2012
    1 Distributable amount for 2012 from Part XI, line 7 207,987
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2012:
    a From 2007....... 0
    b From 2008....... 42,883
    c From 2009....... 63,335
    d From 2010....... 33,696
    e From 2011....... 34,823
    fTotal of lines 3a through e......... 174,737
    4Qualifying distributions for 2012 from Part
    XII, line 4: bullet$ 452,911
    a Applied to 2011, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions)......     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2012 distributable amount..... 207,987
    e Remaining amount distributed out of corpus 244,924
    5 Excess distributions carryover applied to 2012. 0 0
    (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 5 419,661
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2011. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2012. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2013 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see
    instructions) .............     		0
    8Excess distributions carryover from 2007 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2013.
    Subtract lines 7 and 8 from line 6a ......     		419,661
    10 Analysis of line 9:
    a Excess from 2008.... 42,883
    b Excess from 2009.... 63,335
    c Excess from 2010.... 33,696
    d Excess from 2011.... 34,823
    e Excess from 2012.... 244,924
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 9
    Part XIV
    Private Operating Foundations (see 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 2012, 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) 2012 (b) 2011 (c) 2010 (d) 2009
             
    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 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 (2012)
    Form 990-PF (2012)
    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
    DUNWOODY INSTITUTE
    818 DUNWOODY BOULEVARD
    MINNEAPOLIS,MN55403     		    GENERAL SUPPORT 440,159
    Total .................................bullet 3a 440,159
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2012)
    Form 990-PF (2012)
    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 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          
    4 Dividends and interest from securities....     14 266,703  
    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 75,724  
    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)..   342,427  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13342,427
    (See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2012)
    Form 990-PF (2012)
    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
    Sign Here
    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
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2012)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2012 InvestmentsCorpBondsSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CREDIT SUISSE COMM RET ST CO    
    DRIEHAUS ACTIVE INCOME FUND 568,720 572,476
    NUVEEN HIGH INCOME BOND 450,961 475,926
    PIMCO TOTAL RETURN FUND INST 887,634 901,265
    INV BALANCE RISK COMM STR Y 353,703 333,151
    ISHARES JP MORGAN EM BD FD 589,514 595,654

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Name of Stock End of Year Book Value End of Year Fair Market Value
    FIRST AMERICAN EQUITY INDEX FD    
    ABBOTT LABORATORIES 24,452 30,196
    AFLAC INC    
    ALLERGAN INC 13,939 16,970
    AMAZON COM INC 11,017 14,049
    AMERIPRISE FINL INC 8,527 11,900
    AMERISOURCEBERGEN CORP    
    ANADARKO PETROLEUM CORP 15,219 15,828
    APPLE INC 83,401 97,388
    ATT INC 25,807 30,238
    BLACKROCK INC 18,330 23,565
    BORG WARNER INC 21,177 21,558
    BROADCOM CORP CL A 17,881 16,771
    CAMERON INTL CORP 17,377 20,608
    CATERPILLAR INC 19,131 19,445
    CELGENE CORP 10,731 15,066
    CERNER CORP 8,802 11,704
    CHEVRON CORP 39,764 43,905
    COCA COLA CO 30,104 32,009
    COGNIZANT TECH SOLUTIONS 13,233 15,663
    CULLEN FROST BANKERS 19,647 21,437
    DANAHER CORP 13,555 17,217
    DEERE & CO 19,619 21,346
    DIRECTV CL A 11,733 13,443
    DISNEY WALT CO 7,588 11,352
    DOVER CO    
    DU PONT E I DE NEMOURS & CO    
    E BAY INC 15,534 26,162
    E M C CORP 21,407 23,200
    EATON CORP 21,297 22,214
    EMERSON ELEC CO 18,970 21,661
    EQUINIX INC 13,371 28,662
    EQUITABLE CORP 26,691 28,959
    EXPRESS SCRIPTS INC 12,088 13,662
    FLOWSERVE CORP 9,803 16,001
    FLUOR CORP 13,836 15,507
    GOOGLE INC CL A 23,113 30,417
    HALLIBURTON CO    
    INTERNATIONAL BUSINESS MACH CO 50,694 56,890
    ITC HLDGS CORP 17,536 17,920
    JP MORGAN CHASE CO 24,775 31,174
    KINDER MORGAN INC 16,220 22,223
    LAUDER ESTEE COS IN CL A 17,593 22,448
    LEGGETT PLATT INC    
    LORILLARD INC 24,853 27,534
    MCCORMICK CO INC 18,592 25,539
    MCDONALDS CORP    
    MICROCHIP TECH INC 23,106 24,345
    MICROSOFT CORP 23,542 24,893
    MOTOROLA SOLUTIONS INC 20,794 24,666
    NEW YORK COMM BANCORP INC 24,786 25,152
    NEXTERA ENERGY INC 23,893 30,305
    NIKE INC    
    ONEOK INC 17,695 22,273
    ORACLE CORP    
    PACCAR INC 18,561 21,701
    PEPSICO INC    
    PFIZER INC 25,112 34,359
    PHILIP MORRIS INTL 23,873 29,441
    PIONEER NAT RES CO 12,974 17,587
    PRAXAIR INC    
    PRICELINE COM INC 11,326 14,269
    PROCTOR & GAMBLE CO    
    QUALCOMM INC 54,544 59,385
    RALPH LAUREN CORP    
    RAYTHEON CO    
    SCHEIN HENRY INC 18,726 24,046
    SOUTHERN COPPER CORP DEL 25,853 33,468
    TEXAS INSTRUMENTS INC    
    THERMO FISHER SCIENTIFIC INC 12,636 14,925
    UNION PACIFIC CORP 35,251 48,528
    V F CORP 31,924 38,648
    VARIAN MED SYS INC 11,942 14,821
    YUM BRANDS INC 35,038 41,965
    ABB LTD A D R    
    ACCENTURE PIC CL A 29,503 35,977
    AIR LIQUIDE S A A D R 61,130 67,290
    ALLIANZ SE A D R 36,376 45,509
    AMERICA MOVIL A D R 32,713 31,424
    ARM HLDFS PLC A D R 60,726 87,047
    ATLAS COPCO AB SPONS A D R 25,919 32,986
    B G GROUP P L C A D R 37,082 28,708
    BUNGE LIMITED 17,249 19,699
    CANADIAN NATL RY CO 26,615 32,946
    CANON INC SPONS A D R    
    ABERDEEN FD EMRGN MKT INSTL 222,491 256,504
    GOLDMAN SACHS M C VALU CL INST 174,459 205,163
    HIGHLAND LONG SHORT EQUITY Z    
    NEUBERGER BERMAN GENESIS INSTL 261,577 274,833
    NUVEEN REAL ESTATE SEC 725,278 818,671
    OPPENHEIMER DEV MKTS FDS CL 222,491 239,915
    T ROWE PRICE MID CAP GROWTH FD 179,590 180,613
    WPP PICSPONSORED A D R 34,546 46,437
    CARNIVAL CORP    
    CHINA RES ENTERPRISE LTD ADR    
    CNOOC LTD A D R    
    COCHLEAR LTD UNSPON A D R 26,263 28,255
    COMPANHIA DE BEBIDAS P R A D R    
    CSI LIMITED A D R 19,554 32,092
    DASSAULT SYSTEMES SA A D R 46,571 63,896
    DBS GROUPS HLDGS LTD 26,268 27,915
    DIAGEO PLC SPONSORED A D R 19,169 26,464
    ERSTE GROUP BANK AG A D R    
    FANUC CORP A D R 52,927 57,355
    FRESENIUS MED CARE 45,747 44,453
    HOYA CORP A D R    
    HSBC HLDGS PIC SPONS A D R 18,357 21,387
    I C I C I BANK LIMITED A D R 39,889 42,171
    IMPERIAL OIL LTD 27,253 27,692
    ITAU UNIBANCO HLDGS SA A D R 45,861 46,220
    JGC CORP UNSPONS A D R 32,564 33,173
    JUPITER TELECOM A D R    
    LI FUNG LTD 52,559 50,968
    LONZA GROUP AG UNSPONS 22,714 19,168
    LOREAL CO UNSPONS 35,849 42,725
    LVMH MOET HENNESSY LOU VUITT 21,741 24,988
    MTN GROUP LTD 18,327 20,142
    NESTLE SA SPONS 66,579 68,754
    NETEASE COM INC    
    NOVARTIS AG    
    NOVO NORDISK AS 17,189 25,298
    OAO GAZPROM SPON 14,331 11,890
    PETROLEO BRASILEIRO SPONS 21,758 18,691
    QIAGEN NV 19,387 22,288
    ROCHE HLDGS LTD 39,635 47,470
    ROYAL DUTCH SHELL PIC 26,152 27,580
    SAP AG 55,353 78,692
    SASOL LTD SPONS 16,098 15,671
    SCHLUMBERGER LTD 78,573 71,655
    SCHNEIDER ELECT SA UNSP 39,341 42,935
    SEADRILL LTD 25,388 29,918
    SONOVA HLDGS INSPONS 23,044 30,865
    SWATCH GROUP AG 30,780 34,671
    TAIWAN SEMICONDUCTOR 36,513 45,371
    TESCO PIC 25,476 22,482
    TEVA PHARMACEUTICAL INDS LTD    
    THOMSON REUTERS CORP    
    TURKIYE GARANTI BANKASI 30,013 42,307
    UNI CHARM CORP 37,527 40,792
    UNILEVER PIC SPSD 18,539 20,986
    WAL MART DE MEXICO SAB DE CV    
    ANALOG DEVICES INC 15,601 16,403
    CVS 21,944 22,289
    DOLLAR TREE 16,119 13,800
    FIDELITY NAL INFORMATION SERV 21,253 22,383
    LOWES CO INC 25,467 28,523
    LULULEMON ATHLETICA INC 8,942 10,748
    MONSANTO CO 20,658 21,675
    PRECISION CASTPARTS COPR 10,706 12,502
    RALPH LAUREN CORP 12,353 13,493
    ROCKWELL AUTOMATION INC 21,621 22,257
    THE GAP INC 15,674 18,469
    TIME WARNER CABLE 23,653 30,615
    TRIMBLE NAV LTD 10,372 11,358
    UNITED TECH CORP 20,615 22,471
    URBAN OUTFITTERS 10,409 11,414
    VMWARE INC CL A 16,574 13,744
    WALGREENS CO 15,287 16,173
    WELLS FARGO XO 23,564 25,293
    WILLAMS SONOMA INC 10,215 11,687
    AIA GROUP LTD ADR 40,632 44,878
    ANHEUSER BUSCH INBEV NV ADR 51,280 58,740
    MICHAEL KORS HOLDINGS LID 17,033 21,841
    NOKIAN TYRES OYJ UNSPON 28,227 25,873
    POTASH CORP OF SASKATCHEWAN 35,137 33,610
    SVENSKA HANDELSBANKEN A UNSP A 15,783 16,930
    SYSMEX CORP UNSPON 26,948 29,877
    XINYI GLASS HOLDINGS LTS 13,107 14,572
    ISHARES DOW JONES REGIONAL BK 19,344 19,520
    PYXIS LONG SHORT EQUITY Z 522,341 542,226

    TY 2012 InvestmentsOtherSchedule2
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    VARIOUS MINERAL INTERESTS AT COST 1 1

    TY 2012 OtherAssetsSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCURED INCOME 6,025 10,690 10,690


    TY 2012 OtherExpensesSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NONALLOCABLE EXPENSES - 1,421 1,421   0
    FILING FEES 80 0   80


    TY 2012 OtherIncreasesSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Description Amount
    ROUNDING 9


    TY 2012 OtherLiabilitiesSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Description Beginning of Year - Book Value End of Year - Book Value
    RETURN OF CAPITAL 417 1,869


    TY 2012 TaxesSchedule
    Name:
    KATE L DUNWOODY TR UW 35007750
    EIN: 41-6014903
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 4,393 4,393   0
    FEDERAL TAX PAYMENT - PRIOR YE 11,301 0   0
    FEDERAL TAX 6,735 0   0
    FOREIGN TAXES ON QUALIFIED FOR 679 679   0