Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2013
Open to Public Inspection
For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013
Name of foundation
THE KNOWLTON FOUNDATION
C/O CONNIE J NELSON HORMEL FOODS CORP

Number and street (or P.O. box number if mail is not delivered to street address)1 HORMEL PLACE   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
AUSTIN, MN559123680
A Employer identification number

41-1877113
B Telephone number (see instructions)

(507) 437-5957
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E 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$2,377,974J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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 1,520 1,520  
4 Dividends and interest from securities...... 32,141 32,141  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 175,498
b Gross sales price for all assets on line 6a 741,188
7 Capital gain net income (from Part IV, line 2)... 175,498
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 209,159 209,159  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 5,373 5,373   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 3,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 67 34   33
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 8,440 5,407   33
25 Contributions, gifts, grants paid........ 186,500 186,500
26 Total expenses and disbursements. Add lines 24 and 25 194,940 5,407   186,533
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 14,219
b Net investment income (if negative, enter -0-) 203,752
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2013)
Form 990-PF (2013)
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.......... 23,646 35,528 35,528
3 Accounts receivable bullet2
Less: allowance for doubtful accounts bullet   948 2 2
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 instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 1,522,045 Click to see attachment1,523,228 2,342,444
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,546,639 1,558,758 2,377,974
Liabilities 17 Accounts payable and accrued expenses.......... 2,100  
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)    
23 Total liabilities (add lines 17 through 22).......... 2,100 0
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......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 1,544,539 1,558,758
30 Total net assets or fund balances (see page 17 of the
instructions).................... 1,544,539 1,558,758
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 1,546,639 1,558,758
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 1,544,539
2 Enter amount from Part I, line 27a..................... 2 14,219
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 1,558,758
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 1,558,758
Form 990-PF (2013)
Form 990-PF (2013)
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 DELL CLASS ACTION LAWSUIT P 2011-07-01 2013-07-01
b AMG NAT'L TRUST BANK-128.003 SHARES OF CALAMOS GROWTH FUND-I P 2012-12-20 2013-01-09
c AMG NAT'L TRUST BANK-.178 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-02-29 2013-02-14
d AMG NAT'L TRUST BANK-5489.774 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-03-23 2013-02-14
e AMG NAT'L TRUST BANK-7.405 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-03-31 2013-02-14
AMG NAT'L TRUST BANK-5519.48 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-04-23 2013-02-14
AMG NAT'L TRUST BANK-34.811 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-04-30 2013-02-14
AMG NAT'L TRUST BANK-5579.869 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-05-23 2013-02-14
AMG NAT'L TRUST BANK-67.062 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-05-31 2013-02-14
AMG NAT'L TRUST BANK-87.994 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-06-30 2013-02-14
AMG NAT'L TRUST BANK-80.849 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-07-31 2013-02-14
AMG NAT'L TRUST BANK-93.371 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-08-31 2013-02-14
AMG NAT'L TRUST BANK-72.671 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-09-30 2013-02-14
AMG NAT'L TRUST BANK-81.69 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-10-31 2013-02-14
AMG NAT'L TRUST BANK-93.969 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-11-30 2013-02-14
AMG NAT'L TRUST BANK-63.523 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-12-27 2013-02-14
AMG NAT'L TRUST BANK-86.524 SHARES OF PIMCO HIGH YIELD INST #108 P 2012-12-31 2013-02-14
AMG NAT'L TRUST BANK-86.009 SHARES OF PIMCO HIGH YIELD INST #108 P 2013-01-31 2013-02-14
AMG NAT'L TRUST BANK-.011 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-02-29 2013-02-14
AMG NAT'L TRUST BANK-1016.26 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-03-23 2013-02-14
AMG NAT'L TRUST BANK-.41 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-03-31 2013-02-14
AMG NAT'L TRUST BANK-1.886 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-04-30 2013-02-14
AMG NAT'L TRUST BANK-1029.866 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-05-23 2013-02-14
AMG NAT'L TRUST BANK-2.44 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-05-31 2013-02-14
AMG NAT'L TRUST BANK-3.865 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-06-30 2013-02-14
AMG NAT'L TRUST BANK-3.78 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-07-31 2013-02-14
AMG NAT'L TRUST BANK-4.376 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-08-31 2013-02-14
AMG NAT'L TRUST BANK-3.603 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-09-30 2013-02-14
AMG NAT'L TRUST BANK-4.052 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-10-31 2013-02-14
AMG NAT'L TRUST BANK-4.058 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-11-30 2013-02-14
AMG NAT'L TRUST BANK-3.844 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2012-12-31 2013-02-14
AMG NAT'L TRUST BANK-3.861 SHARES OF T ROWE PRICE INTERNATIONAL BOND #76 P 2013-01-31 2013-02-14
AMG NAT'L TRUST BANK-201.747 SHARES OF BUFFALO MID CAP FUND #1446 P 2012-12-18 2013-02-14
AMG NAT'L TRUST BANK-3.357 SHARES OF BUFFALO MID CAP FUND #1446 P 2012-12-18 2013-02-14
AMG NAT'L TRUST BANK-219.864 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-03-23 2013-02-14
AMG NAT'L TRUST BANK-4.769 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-03-30 2013-02-14
AMG NAT'L TRUST BANK-4.439 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-06-29 2013-02-14
AMG NAT'L TRUST BANK-1.25 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-06-29 2013-02-14
AMG NAT'L TRUST BANK-4.402 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-09-28 2013-02-14
AMG NAT'L TRUST BANK-6.397 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-12-13 2013-02-14
AMG NAT'L TRUST BANK-25.805 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-12-13 2013-02-14
AMG NAT'L TRUST BANK-38.97 SHARES OF COHEN & STEERS REALTY SHARES#1262 P 2012-12-13 2013-02-14
AMG NAT'L TRUST BANK-617.284 SHARES OF DIAMOND HILL LARGE CAP FD-A P 2012-03-23 2013-02-14
AMG NAT'L TRUST BANK-42.841 SHARES OF DIAMOND HILL LARGE CAP FD-A P 2012-12-31 2013-02-14
AMG NAT'L TRUST BANK-9.483 SHARES OF DIAMOND HILL LARGE CAP FD-A P 2012-12-31 2013-02-14
AMG NAT'L TRUST BANK-7.381 SHARES OF DODGE & COX STOCK FUND #145 P 2012-03-27 2013-02-14
AMG NAT'L TRUST BANK-9.579 SHARES OF DODGE & COX STOCK FUND #145 P 2012-06-26 2013-02-14
AMG NAT'L TRUST BANK-5.546 SHARES OF DODGE & COX STOCK FUND #145 P 2012-09-25 2013-02-14
AMG NAT'L TRUST BANK-5.879 SHARES OF DODGE & COX STOCK FUND #145 P 2012-12-20 2013-02-14
AMG NAT'L TRUST BANK-6.636 SHARES OF JENSEN PORTFOLIO P 2012-03-21 2013-02-14
AMG NAT'L TRUST BANK-6.782 SHARES OF JENSEN PORTFOLIO P 2012-06-20 2013-02-14
AMG NAT'L TRUST BANK-5.927 SHARES OF JENSEN PORTFOLIO P 2012-09-18 2013-02-14
AMG NAT'L TRUST BANK-8.976 SHARES OF JENSEN PORTFOLIO P 2012-12-20 2013-02-14
AMG NAT'L TRUST BANK-69.448 SHARES OF SELECTED AMERICAN SHARES-D P 2012-12-19 2013-02-21
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AMG NAT'L TRUST BANK-13.286 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUN P 2012-12-19 2013-03-14
AMG NAT'L TRUST BANK-5.307 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUND P 2012-12-31 2013-03-14
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AMG NAT'L TRUST BANK-243.076 SHARES OF JENSEN PORTFOLIO P 2011-10-21 2013-02-14
AMG NAT'L TRUST BANK-12.222 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUN P 2011-09-30 2013-03-14
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AMG NAT'L TRUST BANK-.069 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUND P 2011-11-30 2013-03-14
AMG NATIONAL TRUST BANK-.098 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FU P 2011-12-19 2013-03-14
AMG NAT'L TRUST BANK-.082 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUND P 2011-12-31 2013-03-14
AMG NAT'L TRUST BANK-.063 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUND P 2012-01-31 2013-03-14
AMG NAT'L TRUST BANK-.065 SHARES OF T ROWE PRICE EMERGING MARKETS BOND FUND P 2012-02-29 2013-03-14
AMG NAT'L TRUST BANK-515.996 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2009-05-05 2013-03-27
AMG NAT'L TRUST BANK-484.23 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2009-07-01 2013-03-27
AMG NAT'L TRUST BANK-486.366 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2009-09-02 2013-03-27
AMG NAT'L TRUST BANK-446.371 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2009-09-29 2013-03-27
AMG NAT'L TRUST BANK-146.41 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2009-12-30 2013-03-27
AMG NAT'L TRUST BANK-40.842 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2010-12-30 2013-03-27
AMG NAT'L TRUST BANK-45.63 SHARES OF ARTIO INTERNATIONAL EQUITY FUND CL A P 2011-12-29 2013-03-27
AMG NAT'L TRUST BANK-23.396 SHARES OF SELECTED AMERICAN SHARES-D P 2009-05-05 2013-05-08
AMG NAT'L TRUST BANK-39.614 SHARES OF SELECTED AMERICAN SHARES-D P 2009-12-02 2013-05-08
AMG NAT'L TRUST BANK-59.692 SHARES OF SELECTED AMERICAN SHARES-D P 2010-12-02 2013-05-08
AMG NAT'L TRUST BANK-30.118 SHARES OF SELECTED AMERICAN SHARES-D P 2011-12-22 2013-05-08
AMG NAT'L TRUST BANK-312.956 SHARES OF SELECTED AMERICAN SHARES-D P 2009-05-05 2013-05-09
AMG NAT'L TRUST BANK-1039.069 SHARES OF SELECTED AMERICAN SHARES-D P 2009-05-05 2013-05-13
AMG NAT'L TRUST BANK-246.555 SHARES OF BUFFALO SMALL CAP FUND #1444 P 2009-05-05 2013-06-28
AMG NAT'L TRUST BANK-1.84 SHARES OF BUFFALO SMALL CAP FUND #1444 P 2011-12-20 2013-06-28
AMG NAT'L TRUST BANK-329.453 SHARES OF HARDING LOEVNER EMERG MKTS P 2012-03-23 2013-06-28
CAPITAL GAINS 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 14     14
b 6,869   6,748 121
c 2   2 0
d 53,019   51,040 1,979
e 72   69 3
53,306   51,040 2,266
336   325 11
53,889   51,040 2,849
648   612 36
850   817 33
781   759 22
902   882 20
702   692 10
789   780 9
908   901 7
613   613 0
836   834 2
831   833 -2
      0
10,001   10,040 -39
4   4 0
19   19 0
10,135   10,040 95
24   24 0
38   38 0
37   37 0
43   44 -1
36   37 -1
40   41 -1
40   41 -1
38   39 -1
38   39 -1
3,607   3,440 167
60   57 3
14,898   14,540 358
323   319 4
301   303 -2
85   85 0
298   299 -1
433   401 32
1,749   1,618 131
2,641   2,444 197
11,137   10,040 1,097
773   699 74
171   155 16
972   850 122
1,262   1,018 244
731   661 70
775   721 54
211   193 18
216   191 25
189   176 13
286   271 15
3,081   2,931 150
6,879   6,545 334
1   1 0
16,633   16,040 593
18   18 0
90   84 6
89   85 4
81   80 1
90   90 0
71   72 -1
78   79 -1
79   82 -3
185   188 -3
74   75 -1
76   77 -1
76   76 0
485   469 16
280   246 34
2,350   2,068 282
254   213 41
1,393   1,168 225
93,204   65,431 27,773
3,940   3,734 206
317   309 8
2   2 0
2   2 0
2   2 0
2   2 0
      0
2   2 0
2   2 0
52   56 -4
      0
      0
      0
1   1 0
      0
      0
5,441   3,274 2,167
25,724   16,040 9,684
23,548   14,700 8,848
1,580   1,358 222
14,796   12,440 2,356
17,016   12,440 4,576
185   132 53
16,196   12,440 3,756
256   206 50
310   255 55
195   179 16
168   160 8
268   212 56
366   313 53
2,879   2,535 344
10,682   6,147 4,535
763   446 317
473   328 145
480   352 128
662   510 152
732   512 220
596   438 158
482   394 88
710   608 102
11,805   10,040 1,765
969   807 162
893   649 244
973   739 234
11,317   10,040 1,277
7,741   6,467 1,274
170   152 18
1   1 0
1   1 0
1   1 0
1   1 0
1   1 0
1   1 0
13,437   12,040 1,397
12,610   12,040 570
12,666   13,225 -559
11,624   13,040 -1,416
3,813   4,069 -256
1,064   1,195 -131
1,188   995 193
1,122   694 428
1,900   1,455 445
2,863   2,361 502
1,445   1,178 267
14,960   9,286 5,674
49,960   30,830 19,130
8,251   4,658 3,593
62   46 16
14,960   16,118 -1,158
64,014     64,014
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       14
b       121
c       0
d       1,979
e       3
      2,266
      11
      2,849
      36
      33
      22
      20
      10
      9
      7
      0
      2
      -2
      0
      -39
      0
      0
      95
      0
      0
      0
      -1
      -1
      -1
      -1
      -1
      -1
      167
      3
      358
      4
      -2
      0
      -1
      32
      131
      197
      1,097
      74
      16
      122
      244
      70
      54
      18
      25
      13
      15
      150
      334
      0
      593
      0
      6
      4
      1
      0
      -1
      -1
      -3
      -3
      -1
      -1
      0
      16
      34
      282
      41
      225
      27,773
      206
      8
      0
      0
      0
      0
      0
      0
      0
      -4
      0
      0
      0
      0
      0
      0
      2,167
      9,684
      8,848
      222
      2,356
      4,576
      53
      3,756
      50
      55
      16
      8
      56
      53
      344
      4,535
      317
      145
      128
      152
      220
      158
      88
      102
      1,765
      162
      244
      234
      1,277
      1,274
      18
      0
      0
      0
      0
      0
      0
      1,397
      570
      -559
      -1,416
      -256
      -131
      193
      428
      445
      502
      267
      5,674
      19,130
      3,593
      16
      -1,158
      64,014
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 2 175,498
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))
2012 173,159 1,998,646 0.086638
2011 208,139 2,144,409 0.097061
2010 178,367 1,787,673 0.099776
2009 116,034 1,596,747 0.072669
2008 471,821 2,278,488 0.207076
2 Total of line 1, column (d) ...................... 2 0.563220
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 0.112644
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 2,163,110
5 Multiply line 4 by line 3....................... 5 243,661
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,038
7 Add lines 5 and 6......................... 7 245,699
8 Enter qualifying distributions from Part XII, line 4.............. 8 186,533
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 (2013)
Form 990-PF (2013)
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 4,075
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 4,075
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 4,075
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 8,921
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 8,921
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 4,846
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet4,846 RefundedBullet 11 0
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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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 2013 or the taxable year beginning in 2013 (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 addressbulletN/A
    14
    The books are in care ofbulletCONNIE NELSON Telephone no.bullet (507) 437-5957
    Located atbullet1 HORMEL PLACEAUSTINMN ZIP+4bullet559123680
    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 2013, did the foundation have an interest in or a signature or other authority over YesNo
    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 (2013)
    Form 990-PF (2013)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2013?.............
    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 2013, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2013?...............
    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 2013 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 2013.)....................
    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 2013?
    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 (2013)
    Form 990-PF (2013)
    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
    RICHARD L KNOWLTON PRESIDENT/TREASURER
    1.00     		0 0 0
    1999 SUNBURST DRIVE
    VAIL,CO816575166
    NANCY V KNOWLTON VICE PRESIDENT/SECRETARY
    1.00     		0 0 0
    1999 SUNBURST DRIVE
    VAIL,CO816575166
    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 NOT APPLICABLE 0
    2  
    3  
    4  
    Form 990-PF (2013)
    Form 990-PF (2013)
    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 NOT APPLICABLE 0
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
     
    b
    Average of monthly cash balances.......................
    1b
     
    c
    Fair market value of all other assets (see instructions)................
    1c
     
    d
    Total (add lines 1a, b, and c).........................
    1d
     
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
     
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
     
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
     
    6
    Minimum investment return. Enter 5% of line 5..................
    6
     
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    108,156
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    4,075
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,075
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    104,081
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    104,081
    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
    104,081
    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
     
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
     
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
     
    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 (2013)
    Form 990-PF (2013)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2012     		(c)
    2012     		(d)
    2013
    1 Distributable amount for 2013 from Part XI, line 7 104,081
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2013:
    a From 2008....... 363,969
    b From 2009....... 40,021
    c From 2010....... 89,868
    d From 2011....... 103,052
    e From 2012....... 76,828
    fTotal of lines 3a through e......... 673,738
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 186,533
    a Applied to 2012, 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 2013 distributable amount..... 104,081
    e Remaining amount distributed out of corpus 82,452
    5 Excess distributions carryover applied to 2013. 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 5 756,190
    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 2012. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2013. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2014 ..........     		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 2008 not
    applied on line 5 or line 7 (see instructions) ...     		363,969
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		392,221
    10 Analysis of line 9:
    a Excess from 2009.... 40,021
    b Excess from 2010.... 89,868
    c Excess from 2011.... 103,052
    d Excess from 2012.... 76,828
    e Excess from 2013.... 82,452
    Form 990-PF (2013)
    Form 990-PF (2013)
    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 2013, 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) 2013 (b) 2012 (c) 2011 (d) 2010
             
    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).)
    RICHARD L KNOWLTON
    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 (2013)
    Form 990-PF (2013)
    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
    AMERICAN HEART ASSOCIATION
    7272 GREENVILLE AVE
    DALLAS,TX75231     		NONE EXEMPT CHARITABLE, GENERAL FUND 100
    AMERICAN RED CROSS-MILE HIGH CHAPTER
    444 SHERMAN STREET
    DENVER,CO80203     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    AMERICAN RED CROSS
    PO BOX 4002018
    DES MOINES,IA503402018     		NONE EXEMPT CHARITABLE, GENERAL FUND 10,000
    ANSWER (ASPERGERS SUPPORT NETWORK FOR WELLBEING EDUCATION & RESEARCH)
    12930 30TH AVE N
    PLYMOUTH,MN554412711     		NONE EXEMPT CHARITABLE,GENERAL FUND 50
    MAYO CLINIC HEALTH SYSTEM - AUSTIN FOUNDATION
    1000 FIRST DR NW
    AUSTIN,MN55912     		NONE EXEMPT SCIENTIFIC, GENERAL FUND 25,000
    AUSTIN PUBLIC SCHOOLS
    401 3RD AVE NW
    AUSTIN,MN55912     		NONE EXEMPT EDUCATION, SCHOLARSHIP FUND 3,900
    BIG BROTHERS BIG SISTERS OF METRO MILWAUKEE
    788 N JEFFERSON ST STE 600
    MILWAUKEE,WI532023739     		NONE EXEMPT CHARITABLE, SPONSORSHIP 500
    BLOOD AND MARROW TRANSPLANT PROGRAM U OF MN MEDICAL CENTER
    420 DELAWARE ST SE
    MINNEAPOLIS,MN55455     		NONE EXEMPT SCIENTIFIC, GENERAL FUND 300
    CANINE COMPANIONS FOR INDEPENDENCE
    2965 DUTTON AVE
    SANTA ROSA,CA95407     		NONE EXEMPT SCIENTIFIC, GENERAL FUND 300
    CELEBRATION MINISTRY
    74-425 QUAIL LAKES DRIVE
    INDIAN WELLS,CA92210     		NONE EXEMPT RELIGIOUS-EASTER SUNDAY EXPENSES 200
    COLORADO STATE FIRE FIGHTERS ASSOCIATION
    303 S BROADWAY SUITE 200 PMB 444
    DENVER,CO802091559     		NONE EXEMPT CHARITABLE, GENERAL FUND 50
    COMMUNITY HOSPICE OF TEXAS
    6100 WESTERN PLACE
    FORT WORTH,TX76107     		NONE EXEMPT CHARITABLE, GENERAL FUND 500
    DENVER DEBUTANTE BALL
    2424 S LEYDEN ST
    DENVER,CO802226334     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    EISENHOWER MEDICAL CENTER FOUNDATION
    39000 BOB HOPE DRIVE
    RANCHO MIRAGE,CA92270     		NONE EXEMPT MEIDICAL, GENERAL FUND 30,000
    FIRST CONGREGATIONAL CHURCH
    1910 3RD AVE NW
    AUSTIN,MN55912     		NONE EXEMPT RELIGIOUS, GENERAL FUND 500
    GERALD R FORD FOUNDATION
    303 PEARL ST NW
    GRAND RAPIDS,MI49504     		NONE EXEMPT CHARITABLE, GENERAL FUND 500
    GUIDEPOSTS FOUNDATION
    39 OLD RIDGEBURY ROAD SUITE 2AB
    DANBURY,CT06810     		NONE EXEMPT CHARITABLE, GENERAL 1,000
    HILLBARN THEATRE
    1285 EAST HILLSDALE BLVD
    FOSTER CITY,CA94404     		NONE EXEMPT CHARITABLE, GENERAL FUND 300
    HOOVER INSTITUTION
    434 GALVEZ MALL
    STANFORD,CA943059954     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    HORATIO ALGER ASSOCIATION OF DISTINGUISHED AMERICANS
    99 CANAL CENTER PLAZA
    ALEXANDRIA,VA22314     		NONE EXEMPT CHARITABLE, GENERAL FUND 40,500
    HORMEL HISTORIC HOME
    208 4TH AVE NW
    AUSTIN,MN55912     		NONE EXEMPT CHARITABLE, GENERAL FUND 10,000
    MAYO CLINIC FOR MEDICAL EDUCATION AND RESEARCH
    200 FIRST STREET SW
    ROCHESTER,MN55905     		NONE EXEMPT EDUCATION, BUSH FUND 300
    MCCALLUM THEATRE
    73000 FRED WARING DR
    PALM DESERT,CA92260     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    MIDWEST ATHLETES AGAINST CANCER FUND
    10000 W INNOVATIONS DR SUITE 135
    MILWAUKEE,WI53226     		NONE EXEMPT CHARITABLE, GENERAL FUND 100
    SAN DIEGO ZOO
    PO BOX 120271
    SAN DIEGO,CA921120271     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    SALVATION ARMY
    409 1ST AVE NE PO BOX 480
    AUSTIN,MN55912     		NONE EXEMPT CHARITABLE, GENERAL FUND 400
    ST MARY'S CATHOLIC CHURCH
    1005 HILL AVE PO BOX 345
    SPIRIT LAKE,IA51360     		NONE EXEMPT RELIGIOUS, GENERAL FUND 400
    ST OLAF LUTHERAN CHURCH
    306 2ND STREET NW
    AUSTIN,MN55912     		NONE EXEMPT RELIGIOUS, GENERAL FUND 100
    THE DESERT FOUNDATION
    75-105 MERLE ST SUITE 300
    PALM DESERT,CA92211     		NONE EXEMPT CHARITABLE, SCHOLARSHIP FUND 2,000
    THE HORMEL FOUNDATION
    301 N MAIN ST
    AUSTIN,MN55912     		NONE EXEMPT SCIENTIFIC, BUILDING FUND 20,000
    THE HORMEL INSTITUTE
    801 16TH AVE NE
    AUSTIN,MN55912     		NONE EXEMPT CHARITABLE, GENERAL FUND 500
    THE JANNETTA NEUROSCIENCE FOUNDATION
    5023 FREW ST
    PITTSBURGH,PA15213     		NONE EXEMPT SCIENTIFIC, GENERAL FUND 5,000
    TRU COMMUNITY CARE
    2594 TRAILRIDGE DRIVE EAST
    LAFAYETTE,CO80026     		NONE EXEMPT CHARITABLE, GENERAL FUND 300
    UNITED CATHOLIC SCHOOLS FOUNDATION
    511 4TH AVE NW
    AUSTIN,MN55912     		NONE EXEMPT EDUCATIONAL, GENERAL FUND 5,000
    UNIVERSITY OF COLORADO FOUNDATION INC
    914 BROADWAY BOX 95 UCB
    BOULDER,CO80309     		NONE EXEMPT EDUCATIONAL, ATHLETICS, BUSINESS SCHOOL,GENERAL FUND 21,000
    UNIVERSITY OF MINNESOTA
    PO BOX 70870
    ST PAUL,MN551703854     		NONE EXEMPT EDUCATIONAL, SHELLY JOSEPH-KORDELL MEMORIAL SCHOLARSHIP FUND 300
    VAIL VALLEY MEDICAL CENTER
    PO BOX 1529
    VAIL,CO81658     		NONE EXEMPT CHARITABLE, GREATEST NEED 1,000
    VIRGINIA WARING INTERNATIONAL PIANO COMPETITION
    73-710 FRED WARING DR 201
    PALM DESERT,CA92260     		NONE EXEMPT CHARITABLE, GENERAL FUND 200
    WHITE BEAR LAKE RELAY FOR LIFE
    2181 CEDAR AVE
    WHITE BEAR LAKE,MN55110     		NONE EXEMPT CHARITABLE, SPONSHORSHIP 200
    WOUNDED WARRIORS PROJECTION NATIONAL PROCESSING CENTER
    PO BOX 758540
    TOPEKA,KS66675     		NONE EXEMPT CHARITABLE, GENERAL FUND 1,000
    Total .................................bullet 3a 186,500
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2013)
    Form 990-PF (2013)
    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....          
    3
    Interest on savings and temporary cash investments ............     		    14 1,520  
    4 Dividends and interest from securities....     14 32,141  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....     18    
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 175,498  
    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).. 0 209,159 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13209,159
    (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 (2013)
    Form 990-PF (2013)
    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 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    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 (2013)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2013 InvestmentsCorpStockSchedule
    Name:
    THE KNOWLTON FOUNDATION
    C/O CONNIE J NELSON HORMEL FOODS CORP
    EIN: 41-1877113
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ASTON/RIVER RD SMALL CAP VAL CL N 16,891 22,951
    BUFFALO MID CAP FUND #1446 16,422 26,032
    BUFFALO SMALL CAP FUND #1444 12,238 22,497
    CHAMPLAIN SMALL CO FD-ADV 18,525 28,556
    DIAMOND HILL LARGE CAP FUND 40,720 57,789
    DODGE & COX STOCK FUND #145 109,580 240,897
    FMI COMMON STOCK FUND 27,645 33,121
    HARBOR FUND INTERNATIONAL INVESTOR SHS 58,185 65,467
    HARDING LOEVNER EMERG MKTS 98,716 101,406
    HORMEL FOODS CORP 149,372 572,033
    ISHARES MSCI EMERGING MARKETS 67,797 64,323
    ISHARES MSCI EAFE INDEX FUND 67,494 77,428
    JENSEN PORTFOLIO CL I 36,066 52,723
    MARSICO FOCUS FUND #40 113,648 165,681
    MATTHEWS PACIFIC TIGER FUND #802 27,535 28,817
    OAKMARK INTERNATIONAL FUND (HARRIS) #109 88,266 132,365
    PIMCO HIGH YIELD INST 435 432
    ROYCE PREMIER FUND (INV CL) #265 17,790 26,752
    RS GLOBAL NATURAL RESOURCES FUND CLASS Y 73,111 69,536
    SELECTED AMERICAN SHARES-D 84,193 135,031
    T ROWE PRICE EMERGING MARKETS BOND FUND #110 36 33
    T ROWE PRICE MID-CAP GROWTH #64 22,937 28,802
    T ROWE PRICE INTERNATIONAL BOND #76 18 18
    T ROWE PRICE EMERGING MARKETS STOCK FUDN #111 45,711 48,078
    THIRD AVENUE INTERNATIONAL VALUE 24,673 38,714
    THORNBURG THORNBURG INT'L VALUE CL A 55,505 61,253
    TWEEDY BROWNE GLOBAL VALUE FUND #1 88,079 95,315
    USAA PRECIOUS METALS AND MINERALS FUND #50 64,912 29,557
    VANGUARD ENERGY FUND INVESTOR SHS #51 96,728 116,837

    TY 2013 OtherExpensesSchedule
    Name:
    THE KNOWLTON FOUNDATION
    C/O CONNIE J NELSON HORMEL FOODS CORP
    EIN: 41-1877113
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 25 13   12
    BANK CHARGES 42 21   21


    TY 2013 OtherProfessionalFeesSchedule
    Name:
    THE KNOWLTON FOUNDATION
    C/O CONNIE J NELSON HORMEL FOODS CORP
    EIN: 41-1877113
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MGT FEES 5,373 5,373   0


    TY 2013 TaxesSchedule
    Name:
    THE KNOWLTON FOUNDATION
    C/O CONNIE J NELSON HORMEL FOODS CORP
    EIN: 41-1877113
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    2013 ESTIMATED TAX PAYMENTS 3,000 0   0