TY 2012 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

2012

Open to Public Inspection

For calendar year 2012, or tax year beginning 05-01-2012 , and ending 04-30-2013

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 instructions)

(606) 692-6115

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85% test,
check here and attach computation ........... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

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

$13,460,077J 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 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)	960,000
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	260,121		260,121
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		141,371
b	Gross sales price for all assets on line 6a 3,364,904
7	Capital gain net income (from Part IV, line 2)...			141,371
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).......		1,625,402
12	Total. Add lines 1 through 11........	2,986,894		401,492
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 instructions)		8,793	8,793
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		38,699	36,433
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	47,492		45,226	0
25	Contributions, gifts, grants paid........	1,156,631			1,156,631
26	Total expenses and disbursements. Add lines 24 and 25	1,204,123		45,226	1,156,631
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,782,771
b	Net investment income (if negative, enter -0-)			356,266
c	Adjusted net income (if negative, enter -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	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...............	4,448	9,925	9,925
	2	Savings and temporary cash investments..........	114,550	201,660	201,660
	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)........	9,418,779	8,603,706	8,603,706
	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)...........	2,139,529	4,644,786	4,644,786
	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)	11,677,306	13,460,077	13,460,077
	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....................	11,677,306	13,460,077
	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)....................	11,677,306	13,460,077
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	11,677,306	13,460,077

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	11,677,306
2	Enter amount from Part I, line 27a.....................	2	1,782,771
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	13,460,077
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	13,460,077

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	ABB Ltd ADR	P	2010-02-15	2012-05-15
b	Allergan Inc	P	2010-02-15	2012-05-15
c	Amazon Com Inc	P	2010-02-15	2012-05-15
d	American Express	P	2010-02-15	2012-05-15
e	American Movil SAB Ser L	P	2010-02-15	2012-05-15
	Anadarko Petroleum Corp	P	2010-02-15	2012-05-15
	Apache Corp	P	2010-02-15	2012-05-15
	ASML Holding NV	P	2010-02-15	2012-05-15
	Baidu Inc ADR	P	2010-02-15	2012-05-15
	Banco Bradesco ADR	P	2010-02-15	2012-05-15
	Banco Santander ADR	P	2010-02-15	2012-05-15
	Barclays PLC ADR	P	2010-02-15	2012-05-15
	BASF AG ADR	P	2010-02-15	2012-05-15
	Bed Bath Beyond	P	2010-02-15	2012-05-15
	Biogen IDEC Inc	P	2010-02-15	2012-05-15
	Blackrock Inc	P	2010-02-15	2012-05-15
	Boeing	P	2010-02-15	2012-05-15
	Caterpillar Inc	P	2010-02-15	2012-05-15
	Celgene Corp	P	2010-02-15	2012-05-15
	Cenovus Energy Corp	P	2010-02-15	2012-05-15
	Cisco Systems Inc	P	2010-02-15	2012-05-15
	CNOOC LTD ADR	P	2010-02-15	2012-05-15
	Comcast Corp Special Class A	P	2010-02-15	2012-05-15
	Companhia De Bebidas ADR	P	2010-02-15	2012-05-15
	Ebay Inc.	P	2010-02-15	2012-05-15
	EMC Corp	P	2010-02-15	2012-05-15
	EOG Resources	P	2010-02-15	2012-05-15
	Ericsson American Dep Shs	P	2010-02-15	2012-05-15
	Fanuc Corp	P	2010-02-15	2012-05-15
	Franklin Resources Inc	P	2010-02-15	2012-05-15
	Freeport McMoran Copper Gold	P	2010-02-15	2012-05-15
	Gap, Inc.	P	2010-02-15	2012-05-15
	General Electric	P	2010-02-15	2012-05-15
	GlaxoSmithkline PLC ADR	P	2010-02-15	2012-05-15
	Google Inc	P	2010-02-15	2012-05-15
	Greenhill Co Inc	P	2010-02-15	2012-05-15
	Halliburton Co.	P	2010-02-15	2012-05-15
	Hess Corp	P	2010-02-15	2012-05-15
	Hewlett Packard	P	2010-02-15	2012-05-15
	Home Depot	P	2010-02-15	2012-05-15
	Honda Motor Co LTD ADR	P	2010-02-15	2012-05-15
	HSBC Holdings PLC	P	2010-02-15	2012-05-15
	Human Genome Sciences	P	2010-02-15	2012-05-15
	IBM Corp	P	2010-02-15	2012-05-15
	Intel Corp	P	2010-02-15	2012-05-15
	Ishares FTSE China 25 Index	P	2010-02-15	2012-05-15
	Ishares MSCI Asia Ex Japan	P	2010-02-15	2012-05-15
	Johnson Johnson	P	2010-02-15	2012-05-15
	Jones Lang LaSalle	P	2010-02-15	2012-05-15
	JP Morgan Chase Co	P	2010-02-15	2012-05-15
	Keycorp	P	2010-02-15	2012-05-15
	KLA-Tencor Corp	P	2010-02-15	2012-05-15
	L Oreal ADR	P	2010-02-15	2012-05-15
	LasVegas Sands	P	2010-02-15	2012-05-15
	LVMH Moet Hennessy Louis Vuitton	P	2010-02-15	2012-05-15
	Mattel, Inc.	P	2010-02-15	2012-05-15
	McDonalds	P	2010-02-15	2012-05-15
	Microsoft Corp	P	2010-02-15	2012-05-15
	Morgan Stanley	P	2010-02-15	2012-05-15
	National Oilwell Varco	P	2010-02-15	2012-05-15
	Nestle SA ADR	P	2010-02-15	2012-05-15
	Nike	P	2010-02-15	2012-05-15
	Oracle Systems	P	2010-02-15	2012-05-15
	Osh Kosh Corp	P	2010-02-15	2012-05-15
	Pebblebrook Hotel Trust	P	2010-02-15	2012-05-15
	Pfizer Inc	P	2010-02-15	2012-05-15
	Phillip Morris	P	2010-02-15	2012-05-15
	PNC Bank	P	2010-02-15	2012-05-15
	Priceline.Com	P	2010-02-15	2012-05-15
	Proctor Gamble	P	2010-02-15	2012-05-15
	Qualcomm Inc	P	2010-02-15	2012-05-15
	Regions Financial	P	2010-02-15	2012-05-15
	Rio Tinto PLC-GBP	P	2010-02-15	2012-05-15
	Safeway Inc	P	2010-02-15	2012-05-15
	Salesforce.Com	P	2010-02-15	2012-05-15
	Sanofi-Adventis ADR	P	2010-02-15	2012-05-15
	SAP AG ADR	P	2010-02-15	2012-05-15
	Schlumberger	P	2010-02-15	2012-05-15
	Southwestern Energy Co	P	2010-02-15	2012-05-15
	Starbucks	P	2010-02-15	2012-05-15
	Sumitomo Mitsui Financial	P	2010-02-15	2012-05-15
	Symantec Corp	P	2010-02-15	2012-05-15
	Texas Instruments	P	2010-02-15	2012-05-15
	Time Warner Cable	P	2010-02-15	2012-05-15
	Time Warner Inc.	P	2010-02-15	2012-05-15
	U.S. Bancorp Delaware	P	2010-02-15	2012-05-15
	UBS AG Fisher Enhanced Growth Notes	P	2010-02-15	2012-05-15
	United Technologies	P	2010-02-15	2012-05-15
	USX U.S. Steel Group	P	2010-02-15	2012-05-15
	Veeco Instruments	P	2010-02-15	2012-05-15
	Visa Inc	P	2010-02-15	2012-05-15
	Wells Fargo Co	P	2010-02-15	2012-05-15
	Weyerhaeuser Co	P	2010-02-15	2012-05-15

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	27,151	24,484	2,667
b	31,992	30,062	1,930
c	68,603	43,056	25,547
d	31,212	34,111	-2,899
e	20,153	24,220	-4,067
	45,568	47,025	-1,457
	27,227	38,344	-11,117
	20,707	22,187	-1,480
	32,209	11,044	21,165
	16,662	27,582	-10,920
	13,859	35,095	-21,236
	16,905	23,820	-6,915
	34,590	19,369	15,221
	27,518	14,282	13,236
	119,440	27,208	92,232
	37,169	44,605	-7,436
	30,314	29,092	1,222
	26,831	20,941	5,890
	30,290	35,149	-4,859
	34,484	33,150	1,334
	115,815	116,882	-1,067
	32,862	39,187	-6,325
	24,241	13,274	10,967
	21,072	23,315	-2,243
	43,212	24,459	18,753
	43,391	34,956	8,435
	46,463	29,861	16,602
	26,503	20,712	5,791
	31,291	34,373	-3,082
	5,014	2,845	2,169
	37,289	42,013	-4,724
	42,401	22,085	20,316
	66,505	99,157	-32,652
	43,452	48,036	-4,584
	33,610	29,582	4,028
	44,546	34,835	9,711
	14,244	13,063	1,181
	29,066	22,105	6,961
	10,861	25,082	-14,221
	32,932	17,582	15,350
	30,362	19,384	10,978
	24,490	27,147	-2,657
	27,690	29,913	-2,223
	34,262	29,564	4,698
	37,714	29,281	8,433
	51,490	53,103	-1,613
	39,848	39,816	32
	55,087	57,979	-2,892
	10,279	3,847	6,432
	49,462	53,354	-3,892
	13,493	11,328	2,165
	4,554	4,043	511
	20,007	20,459	-452
	36,099	46,519	-10,420
	30,556	33,143	-2,587
	9,178	5,182	3,996
	40,913	45,083	-4,170
	95,666	93,611	2,055
	90,384	131,882	-41,498
	42,893	33,158	9,735
	46,255	40,442	5,813
	32,627	34,351	-1,724
	73,320	67,872	5,448
	18,773	20,576	-1,803
	10,066	8,549	1,517
	39,444	35,110	4,334
	21,944	23,069	-1,125
	30,983	32,465	-1,482
	30,463	35,149	-4,686
	43,663	39,274	4,389
	40,748	42,969	-2,221
	12,877	14,723	-1,846
	42,037	57,174	-15,137
	60,274	51,959	8,315
	30,963	33,789	-2,826
	39,628	40,503	-875
	29,725	34,100	-4,375
	85,420	77,150	8,270
	30,780	31,757	-977
	42,118	48,871	-6,753
	29,331	33,311	-3,980
	7,469	5,675	1,794
	48,406	37,472	10,934
	10,507	4,500	6,007
	19,395	5,684	13,711
	19,470	17,616	1,854
	88,141	90,265	-2,124
	36,241	30,873	5,368
	41,093	79,226	-38,133
	8,287	7,519	768
	32,969	35,211	-2,242
	28,900	26,351	2,549
	50,506	33,952	16,554

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			2,667
b			1,930
c			25,547
d			-2,899
e			-4,067
			-1,457
			-11,117
			-1,480
			21,165
			-10,920
			-21,236
			-6,915
			15,221
			13,236
			92,232
			-7,436
			1,222
			5,890
			-4,859
			1,334
			-1,067
			-6,325
			10,967
			-2,243
			18,753
			8,435
			16,602
			5,791
			-3,082
			2,169
			-4,724
			20,316
			-32,652
			-4,584
			4,028
			9,711
			1,181
			6,961
			-14,221
			15,350
			10,978
			-2,657
			-2,223
			4,698
			8,433
			-1,613
			32
			-2,892
			6,432
			-3,892
			2,165
			511
			-452
			-10,420
			-2,587
			3,996
			-4,170
			2,055
			-41,498
			9,735
			5,813
			-1,724
			5,448
			-1,803
			1,517
			4,334
			-1,125
			-1,482
			-4,686
			4,389
			-2,221
			-1,846
			-15,137
			8,315
			-2,826
			-875
			-4,375
			8,270
			-977
			-6,753
			-3,980
			1,794
			10,934
			6,007
			13,711
			1,854
			-2,124
			5,368
			-38,133
			768
			-2,242
			2,549
			16,554

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	141,371
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 . . . . . . . . . . . . . . . .		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))
2011	797,525	11,391,525	000.070010
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

2	Total of line 1, column (d) ......................	2	000.523826
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	000.104765
4	Enter the net value of noncharitable-use assets for 2012 from Part X, line 5.....	4	10,974,870
5	Multiply line 4 by line 3.......................	5	1,149,782
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	3,563
7	Add lines 5 and 6.........................	7	1,153,345
8	Enter qualifying distributions from Part XII, line 4..............	8	1,156,631
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)

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	3,563
	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	3,563
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	3,563
6	Credits/Payments:

a	2012 estimated tax payments and 2011 overpayment credited to 2012	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	60
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	3,623
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 2013 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 instructions)

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 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?

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 instructions) .............

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

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

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)

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 2012?.............

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 2012, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2012?...............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 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 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.)....................

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 2012?

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 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 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 (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
Maree Larson	President 020.00	0
2333 Eastbrook Drive Brookings,SD57006	President 020.00	0
O Dale Larson	Vice President 010.00	0
2333 Eastbrook Drive Brookings,SD57006	Vice President 010.00	0
Carmelle Jackson	Secretary 001.00	0
2333 Eastbrook Drive Brookings,SD57006	Secretary 001.00	0

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










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

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

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 (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.)

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

11,000,000

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

142,000

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

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

11,142,000

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

11,142,000

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

instructions) Click to see attachment

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

167,130

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

10,974,870

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

548,744

Part XI

Distributable Amount (see 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....................

548,744

Tax on investment income for 2012 from Part VI, line 5......

3,563

Income tax for 2012. (This does not include the tax from Part VI.)...

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

3,563

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

545,181

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

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

545,181

Deduction from distributable amount (see instructions).................

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

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

545,181

Part XII

Qualifying Distributions (see 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

..........

1,156,631

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

1,156,631

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

3,563

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

1,153,068

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)

Page 8

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2012
1 Distributable amount for 2012 from Part XI, line 7			545,181
2 Undistributed income, if any, as of the end of 2012:
a Enter amount for 2011 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2012:
a From 2007.......	438,310
b From 2008.......	636,738
c From 2009.......	840,049
d From 2010.......	694,993
e From 2011.......	236,723
fTotal of lines 3a through e.........		2,846,813
4Qualifying distributions for 2012 from Part
XII, line 4: $ 1,156,631
a Applied to 2011, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions)......
c Treated as distributions out of corpus (Election required—see instructions).........
d Applied to 2012 distributable amount.....			545,181
e Remaining amount distributed out of corpus		611,450
5 Excess distributions carryover applied to 2012.
(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		3,458,263
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 instructions ...........
e Undistributed income for 2011. Subtract line 4a from line 2a. Taxable amount—see instructions .............
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) .............
8Excess distributions carryover from 2007 not applied on line 5 or line 7 (see instructions) ...		438,310
9Excess distributions carryover to 2013. Subtract lines 7 and 8 from line 6a ......		3,019,953
10 Analysis of line 9:
a Excess from 2008....	636,738
b Excess from 2009....	840,049
c Excess from 2010....	694,993
d Excess from 2011....	236,723
e Excess from 2012....	611,450

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 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) 2012	(b) 2011	(c) 2010	(d) 2009	(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 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 instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail 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 (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Domestic Abuse Center PO Box Brookings,SD57006	None		Facility Upgrade/Outreach	25,000
Abbot House PO Box Mitchell,SD57301	None		Program Expenses	2,000
American Lung Assoc PO Box Sioux Falls,SD57103	None		Asthma Camp	1,000
Avera McKennan PO Box Sioux Falls,SD57117	None		Family Wellness Program	25,000
Brookings Area Transit (BATA) PO Box Brookings,SD57006	None		Software Update	12,000
Boys & Grils Club of Moody Cnty PO Box Flandreau,SD57028	None		Match Funds - Program Expenses	20,000
Boys & Girsl Club Brookings PO Box Brookings,SD57006	None		Program Expenses	90,000
Boys & Girls Club Yankton PO Box Yankton,SD57078	None		Program Expenses	20,000
Brookings Cnty Youth Mentoring PO Box Brookings,SD57006	None		Mentoring Program	7,000
Brookings Backpack Project PO Box Brookings,SD57006	None		Food for children	50,000
Brookings Area Habiltat for Humanity PO Box Brookings,SD57006	None		Funding for a House	50,000
Cheyenne River Youth Project PO Box Eagle Butte,SD57625	None		Christmas Toy Drive	500
East Central Behavorial Health PO Box Brookings,SD57006	None		Renovations	25,000
East Central CASA PO Box Brookings,SD57006	None		Program Expenses	30,000
Habitat for Humanity SD PO Box Brookings,SD57006	None		Home Renovation	43,500
Healing Words Foundation PO Box Brookings,SD57006	None		Harvest Table	10,000
Helpline Center PO Box Sioux Falls,SD57104	None		Suicide Awareness Training	10,000
Here4Youth PO Box Sioux Falls,SD57105	None		Renovate Gym	7,500
HorsePower PO Box Sioux Falls,SD57106	None		Horse Riding Therapy	20,000
Ronald McDonald House PO Box Sioux Falls,SD57104	None		Program Funding	10,000
Sanford Health Foundation PO Box Sioux Falls,SD57117	None		Spirt Camp - Diabetes	5,000
SD Achieve PO Box Sioux Falls,SD57105	None		Training room/Kitchen	15,000
SD Network Against Family Violence PO Box Sioux Falls,SD57109	None		Program Expenses	15,000
St Tomas More Special Assistance PO Box Brookings,SD57006	None		Small grants to assist needy	2,500
Volunteer Service Bank PO Box Brookings,SD57006	None		Program Expenses	3,000
Volunteers of America - Dakotas PO Box Sioux Falls,SD57109	None		Brookings RSVP Program	6,000
Brookings School District PO Box Brookings,SD57006	None		Scholarships	4,000
Lake Mills School District PO Box Lake Mills,IA50450	None		Scholarships	2,000
Brookings Area United Way PO Box Brookings,SD57006	None		Match Larson Employee Donations	92,000
United Way Freeborn Cnty PO Box Albert Lea,MN56007	None		Match Larson Employee Donations	5,304
United Way Mocksville PO Box Mocksville,NC27028	None		Match Larson Employee Donations	4,000
United Way - N Central IA PO Box Mason City,IA50401	None		Match Larson Employee Donations	7,105
Brookings School District PO Box Brookings,SD57006	None		Quiz Bowl Team	700
Brookings School District PO Box Brookings,SD57006	None		Science Olympiad Team	1,000
Black Hills Special Services PO Box Pierre,SD57501	None		Youth Leadership Forum	5,000
Dakota State Univ Foundation PO Box Madison,SD57042	None		Video Tutorial	23,673
Girls Scouts - Dakota Horizons PO Box Sioux Falls,SD57106	None		Program Expenses	25,000
Lutheran Outdoors PO Box Sioux Falls,SD57107	None		Riding Prog/Playground Equip	50,000
SD Head Start PO Box Pierre,SD57501	None		Early childhood Ed	1,000
SD Humanities Council PO Box Brookings,SD57006	None		Books for local area	2,000
SD School of Mines & Tech PO Box Rapid City,SD57701	None		STEM Camp	5,250
Teach for America - SD PO Box Pierre,SD57501	None		Program Expenses	100,000
Washington Pavillion PO Box Sioux Falls,SD57104	None		STEM Education	5,000
SD Public Broadcasting PO Box Brookings,SD57006	None		Family Reading Project	75,000
Black Hills Playhouse PO Box Rapid City,SD57700	None		Renovations	50,000
Dell Rapids City PO Box Dell Rapids,SD57022	None		Renovate Carnegie Library	10,000
SD Art Museum PO Box Brookings,SD57006	None		Program Expenses	20,000
Sioux Falls Jazz & Blues PO Box Sioux Falls,SD57104	None		Jazz Diversity Project	7,500
Red Cloud Indian School PO Box Pine Ridge,SD57770	None		Field Trip - Childrens Museum	2,368
Lakota Waldorf School PO Box Kyle,SD57752	None		Healthy Meals	12,784
Native Am Community Board PO Box Lake Andes,SD57356	None		Food Playground Equip	20,600
Red Cloud Indian School PO Box Pine Ridge,SD57770	None		Healthy Meals	74,000
Various - Match Larson Employee Gifts PO Box Brookings,SD57006	None		Match Larson Employee Donations	15,864
Boys & Gilrs Club Missouri River PO Box Wagner,SD57380	None		Playground Equip	30,483
Total ................................. 3a				1,156,631

bApproved for future payment

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

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	(e) Related or exempt function income (See instructions.)
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	260,121
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	141,371
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aUnrealized Gain			18	1,625,402
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				2,026,894

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

132,026,894

(See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2012)

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

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2012)

Additional Data

Software ID:	12000057
Software Version:	12.16.513.2

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

2012

Name of the 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) (2012)

Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

Page 2

Name of organization Larson Foundation

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	O Dale Larson 2333 Eastbrook Drive Brookings, SD 57006	$960,000	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) (2012)

Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

Page 3

Name of organization Larson Foundation

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) (2012)

Schedule B (Form 990, 990-EZ, or 990-PF) (2012)

Page 4

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) (2012)

Additional Data

Software ID:	12000057
Software Version:	12.16.513.2

- TIN:

TY 2012 ExplnOfNonFilingWithAGStmt

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Statement:

Not required in South Dakota

- TIN:

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

TY 2012 GainLossSaleOtherAssetsSch

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Name	Date Acquired	How Acquired	Date Sold	Gross Sales Price	Basis	Total (net)
ABB Ltd ADR	2010-02	P	2012-05	27,151	24,484	2,667
Allergan Inc	2010-02	P	2012-05	31,992	30,062	1,930
Amazon Com Inc	2010-02	P	2012-05	68,603	43,056	25,547
American Express	2010-02	P	2012-05	31,212	34,111	-2,899
American Movil SAB Ser L	2010-02	P	2012-05	20,153	24,220	-4,067
Anadarko Petroleum Corp	2010-02	P	2012-05	45,568	47,025	-1,457
Apache Corp	2010-02	P	2012-05	27,227	38,344	-11,117
ASML Holding NV	2010-02	P	2012-05	20,707	22,187	-1,480
Baidu Inc ADR	2010-02	P	2012-05	32,209	11,044	21,165
Banco Bradesco ADR	2010-02	P	2012-05	16,662	27,582	-10,920
Banco Santander ADR	2010-02	P	2012-05	13,859	35,095	-21,236
Barclays PLC ADR	2010-02	P	2012-05	16,905	23,820	-6,915
BASF AG ADR	2010-02	P	2012-05	34,590	19,369	15,221
Bed Bath Beyond	2010-02	P	2012-05	27,518	14,282	13,236
Biogen IDEC Inc	2010-02	P	2012-05	119,440	27,208	92,232
Blackrock Inc	2010-02	P	2012-05	37,169	44,605	-7,436
Boeing	2010-02	P	2012-05	30,314	29,092	1,222
Caterpillar Inc	2010-02	P	2012-05	26,831	20,941	5,890
Celgene Corp	2010-02	P	2012-05	30,290	35,149	-4,859
Cenovus Energy Corp	2010-02	P	2012-05	34,484	33,150	1,334
Cisco Systems Inc	2010-02	P	2012-05	115,815	116,882	-1,067
CNOOC LTD ADR	2010-02	P	2012-05	32,862	39,187	-6,325
Comcast Corp Special Class A	2010-02	P	2012-05	24,241	13,274	10,967
Companhia De Bebidas ADR	2010-02	P	2012-05	21,072	23,315	-2,243
Ebay Inc.	2010-02	P	2012-05	43,212	24,459	18,753
EMC Corp	2010-02	P	2012-05	43,391	34,956	8,435
EOG Resources	2010-02	P	2012-05	46,463	29,861	16,602
Ericsson American Dep Shs	2010-02	P	2012-05	26,503	20,712	5,791
Fanuc Corp	2010-02	P	2012-05	31,291	34,373	-3,082
Franklin Resources Inc	2010-02	P	2012-05	5,014	2,845	2,169
Freeport McMoran Copper Gold	2010-02	P	2012-05	37,289	42,013	-4,724
Gap, Inc.	2010-02	P	2012-05	42,401	22,085	20,316
General Electric	2010-02	P	2012-05	66,505	99,157	-32,652
GlaxoSmithkline PLC ADR	2010-02	P	2012-05	43,452	48,036	-4,584
Google Inc	2010-02	P	2012-05	33,610	29,582	4,028
Greenhill Co Inc	2010-02	P	2012-05	44,546	34,835	9,711
Halliburton Co.	2010-02	P	2012-05	14,244	13,063	1,181
Hess Corp	2010-02	P	2012-05	29,066	22,105	6,961
Hewlett Packard	2010-02	P	2012-05	10,861	25,082	-14,221
Home Depot	2010-02	P	2012-05	32,932	17,582	15,350
Honda Motor Co LTD ADR	2010-02	P	2012-05	30,362	19,384	10,978
HSBC Holdings PLC	2010-02	P	2012-05	24,490	27,147	-2,657
Human Genome Sciences	2010-02	P	2012-05	27,690	29,913	-2,223
IBM Corp	2010-02	P	2012-05	34,262	29,564	4,698
Intel Corp	2010-02	P	2012-05	37,714	29,281	8,433
Ishares FTSE China 25 Index	2010-02	P	2012-05	51,490	53,103	-1,613
Ishares MSCI Asia Ex Japan	2010-02	P	2012-05	39,848	39,816	32
Johnson Johnson	2010-02	P	2012-05	55,087	57,979	-2,892
Jones Lang LaSalle	2010-02	P	2012-05	10,279	3,847	6,432
JP Morgan Chase Co	2010-02	P	2012-05	49,462	53,354	-3,892
Keycorp	2010-02	P	2012-05	13,493	11,328	2,165
KLA-Tencor Corp	2010-02	P	2012-05	4,554	4,043	511
L Oreal ADR	2010-02	P	2012-05	20,007	20,459	-452
LasVegas Sands	2010-02	P	2012-05	36,099	46,519	-10,420
LVMH Moet Hennessy Louis Vuitton	2010-02	P	2012-05	30,556	33,143	-2,587
Mattel, Inc.	2010-02	P	2012-05	9,178	5,182	3,996
McDonalds	2010-02	P	2012-05	40,913	45,083	-4,170
Microsoft Corp	2010-02	P	2012-05	95,666	93,611	2,055
Morgan Stanley	2010-02	P	2012-05	90,384	131,882	-41,498
National Oilwell Varco	2010-02	P	2012-05	42,893	33,158	9,735
Nestle SA ADR	2010-02	P	2012-05	46,255	40,442	5,813
Nike	2010-02	P	2012-05	32,627	34,351	-1,724
Oracle Systems	2010-02	P	2012-05	73,320	67,872	5,448
Osh Kosh Corp	2010-02	P	2012-05	18,773	20,576	-1,803
Pebblebrook Hotel Trust	2010-02	P	2012-05	10,066	8,549	1,517
Pfizer Inc	2010-02	P	2012-05	39,444	35,110	4,334
Phillip Morris	2010-02	P	2012-05	21,944	23,069	-1,125
PNC Bank	2010-02	P	2012-05	30,983	32,465	-1,482
Priceline.Com	2010-02	P	2012-05	30,463	35,149	-4,686
Proctor Gamble	2010-02	P	2012-05	43,663	39,274	4,389
Qualcomm Inc	2010-02	P	2012-05	40,748	42,969	-2,221
Regions Financial	2010-02	P	2012-05	12,877	14,723	-1,846
Rio Tinto PLC-GBP	2010-02	P	2012-05	42,037	57,174	-15,137
Safeway Inc	2010-02	P	2012-05	60,274	51,959	8,315
Salesforce.Com	2010-02	P	2012-05	30,963	33,789	-2,826
Sanofi-Adventis ADR	2010-02	P	2012-05	39,628	40,503	-875
SAP AG ADR	2010-02	P	2012-05	29,725	34,100	-4,375
Schlumberger	2010-02	P	2012-05	85,420	77,150	8,270
Southwestern Energy Co	2010-02	P	2012-05	30,780	31,757	-977
Starbucks	2010-02	P	2012-05	42,118	48,871	-6,753
Sumitomo Mitsui Financial	2010-02	P	2012-05	29,331	33,311	-3,980
Symantec Corp	2010-02	P	2012-05	7,469	5,675	1,794
Texas Instruments	2010-02	P	2012-05	48,406	37,472	10,934
Time Warner Cable	2010-02	P	2012-05	10,507	4,500	6,007
Time Warner Inc.	2010-02	P	2012-05	19,395	5,684	13,711
U.S. Bancorp Delaware	2010-02	P	2012-05	19,470	17,616	1,854
UBS AG Fisher Enhanced Growth Notes	2010-02	P	2012-05	88,141	90,265	-2,124
United Technologies	2010-02	P	2012-05	36,241	30,873	5,368
USX U.S. Steel Group	2010-02	P	2012-05	41,093	79,226	-38,133
Veeco Instruments	2010-02	P	2012-05	8,287	7,519	768
Visa Inc	2010-02	P	2012-05	32,969	35,211	-2,242
Wells Fargo Co	2010-02	P	2012-05	28,900	26,351	2,549
Weyerhaeuser Co	2010-02	P	2012-05	50,506	33,952	16,554

- TIN:

TY 2012 GeneralExplanationAttachment

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Identifier	Return Reference	Explanation

- TIN:

TY 2012 InvestmentsCorpStockSchedule

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Name of Stock	End of Year Book Value	End of Year Fair Market Value
JP Morgan Chase Co	88,463	88,463
AMC Networks Inc	24,070	24,070
ATT	48,136	48,136
Akamai Technologies	88,698	88,698
Allied World Assurance	70,832	70,832
Amazon Corn Inc	107,869	107,869
Amgen	42,726	42,726
Anadarko Petroleum	77,725	77,725
Anheuser Busch lnbev	63,300	63,300
Apache Corp	50,238	50,238
Apple Inc	105,382	105,382
Applied Materials Inc	84,622	84,622
Autodesk Inc.	49,225	49,225
Axis Capital Holdings	74,309	74,309
Bed Bath Beyond	58,205	58,205
Biogen IDEC Inc	182,588	182,588
Blackrock lnvestment	129,519	129,519
Boeing	73,037	73,037
Broadcom Corp Class A	76,536	76,536
CME Group Inc Class A	41,385	41,385
CVS Caremark	99,488	99,488
Cablevision Systems	30,760	30,760
Cameron International	63,396	63,396
Carnival Corp	43,828	43,828
Caterpillar Inc	32,175	32,175
Celgene Corp	115,000	115,000
Charles Schwab Corp	50,863	50,863
Chevron Corp	120,790	120,790
Chubb Corp	76,181	76,181
Citrix Systems Inc	66,822	66,822
Coca-Cola	73,654	73,654
Comcast Corp Class A	169,536	169,536
Covidien PLC Dublin	39,517	39,517
Cree Reasearch Inc.	55,721	55,721
Deere Co	98,230	98,230
Devon Energy Corp	63,594	63,594
Dolby Laboratories Inc	15,045	15,045
Dover	37,939	37,939
EMC Corp	55,066	55,066
Eaton Corp	66,814	66,814
Ebay Inc.	143,287	143,287
Emcor Group	8,789	8,789
Emerson Electric	58,952	58,952
Ericsson American Dep	44,254	44,254
Express Scripts	46,309	46,309
First Republic Bank	22,256	22,256
Fluor Corp	56,011	56,011
Forest Labs	58,734	58,734
Franklin Resources Inc	45,625	45,625
Freeport McMoran	17,041	17,041
General Electric	44,134	44,134
Google Inc	103,071	103,071
Greenhill Co Inc	7,668	7,668
Guess Inc	7,224	7,224
Halliburton Co.	57,739	57,739
Hess Corp	62,075	62,075
Home Depot	175,673	175,673
Honeywell Inc.	88,248	88,248
ImmunogenInc	16,501	16,501
Intuit Inc	42,643	42,643
Isis Pharmaceuticals	20,263	20,263
Jacobs Engineering	16,961	16,961
Johnson Johnson	187,932	187,932
Jones Lang LaSalle	43,074	43,074
Juniper Networks Inc	58,852	58,852
KLA-Tencor Corp	35,805	35,805
Keycorp	35,045	35,045
Level 3 Communications	40,625	40,625
Liberty Interactive	54,289	54,289
Libery Media Corp	63,529	63,529
Lowes Corp	576,300	576,300
Mattel, Inc.	48,856	48,856
Merck Co	83,425	83,425
Monsanto Co	52,235	52,235
Nasdaq OMX Group	28,065	28,065
National Oilwell Varco	26,284	26,284
Netapp Inc	42,217	42,217
Newfield Exploration Co	12,638	12,638
Nike	51,262	51,262
Nucor Corp	55,877	55,877
Osh Kosh Corp	22,182	22,182
Pall Corp	75,382	75,382
Pebblebrook Hotel Trust	36,666	36,666
Pepsico Inc	73,811	73,811
Plantronics Inc	8,194	8,194
Proctor Gamble	30,708	30,708
Qualcomm Inc	35,050	35,050
Regions Financial	38,120	38,120
Safeway Inc	31,190	31,190
Schlumberger	86,711	86,711
Seagate Technology	95,420	95,420
Sothebys Delaware	5,748	5,748
Symantec Corp	33,655	33,655
TE Connectivity LTD	44,116	44,116
Texas Instruments	82,740	82,740
The DirectTV Group	46,492	46,492
Thermo Fisher Scientific	70,272	70,272
Tyco International	35,332	35,332
U.S. Bancorp Delaware	60,736	60,736
Unilever PLC ADR	82,785	82,785
United Parcel Service	59,058	59,058
Unitedhealth Group	148,327	148,327
Vertex Pharmaceuticals	37,872	37,872
Visa Inc	119,607	119,607
Walt Disney Co.	163,384	163,384
Weatherford Intl LTD	42,054	42,054
Weyerhaeuser Co	34,019	34,019
Meta Financial Group	306,038	306,038
Wells Financial Corp	38,000	38,000
BHP Billiton ADR	25,140	25,140
GlaxoSmithkline PLC	32,017	32,017
Novartis AG ADR	82,980	82,980
Vodafone Group Plc	63,505	63,505
Cisco Systems Inc	52,928	52,928
Microsoft Corp	80,929	80,929
Oracle Systems	29,500	29,500
Baker Hughes	17,702	17,702
Citigroup Inc	36,628	36,628
Coach Inc	35,905	35,905
EI Dupont	37,067	37,067
ADT Corp	24,002	24,002
Exxon Mobil	55,886	55,886
Facebook	24,576	24,576
Goldman Sacs Group	59,889	59,889
Joy Global Inc	25,038	25,038
Mosaic Company	14,412	14,412
Oxidental Petroleum	48,647	48,647
Peabody Energy	20,461	20,461
Pentair Inc	15,327	15,327
Raytheon Class A	42,966	42,966
Sandisk Corp	60,830	60,830
Starz Liberty Cap	12,929	12,929
State Street Corp	66,948	66,948
Teradyne Inc	14,171	14,171
TEVA Pharmaceutical	25,080	25,080
Veeco Instruments	30,266	30,266
Xilinx Corp	37,152	37,152
Yum Brands	36,104	36,104

- TIN:

TY 2012 InvestmentsOtherSchedule2

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Growth Fund of America - Mutual Fund	FMV	2,489,897	2,489,897
First Eagle Global - Mutual Fund	FMV	2,154,889	2,154,889

- TIN:

TY 2012 OtherExpensesSchedule

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Fees	36,433	36,433
Dues	2,266

- TIN:

TY 2012 OtherIncomeSchedule2

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Unrealized Gain	1,625,402

- TIN:

TY 2012 SubstantialContributorsSch

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Name	Address
See Schedule B

- TIN:

TY 2012 TaxesSchedule

Name:

Larson Foundation

EIN: 46-0412311

Software ID:12000057

Software Version:12.16.513.2

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Tax on investment income	8,793	8,793