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 11-01-2013 , and ending 10-31-2014
Name of foundation
PREPIORA STEPHANIE ENDOWMENT FD 60361300
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 0364   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

45-6085277
B Telephone number (see instructions)

(701) 795-6162
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$380,650J 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 1  
4 Dividends and interest from securities...... 7,781 7,781  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 15,613
b Gross sales price for all assets on line 6a 275,423
7 Capital gain net income (from Part IV, line 2)... 15,613
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 23,395 23,395  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 11,650 9,020   2,630
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions) Click to see attachment 2,148 207   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 13,798 9,227 0 2,630
25 Contributions, gifts, grants paid........ 15,986 15,986
26 Total expenses and disbursements. Add lines 24 and 25 29,784 9,227 0 18,616
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -6,389
b Net investment income (if negative, enter -0-) 14,168
c Adjusted net income (if negative, enter -0-)... 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.......... 6,186 6,868 6,868
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 232,993 Click to see attachment234,327 263,453
c Investments—corporate bonds (attach schedule)........ 117,874 Click to see attachment109,636 110,297
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)   Click to see attachment32 Click to see attachment32
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 357,053 350,863 380,650
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)   Click to see attachment208
23 Total liabilities (add lines 17 through 22)..........   208
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.........   -208
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 357,053 350,863
30 Total net assets or fund balances (see page 17 of the
instructions).................... 357,053 350,655
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 357,053 350,863
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)............... 1 357,053
2 Enter amount from Part I, line 27a..................... 2 -6,389
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 350,664
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 9
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 350,655
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 34.686 ABERDEEN FDS EMRGN   2013-08-09 2014-04-02
b 387.013 ABERDEEN FDS EMRGN   2012-02-07 2014-04-02
c 376.809 ABERDEEN FDS EMRGN   2012-12-05 2014-04-02
d 51.922 ABERDEEN FDS EMRGN   2013-08-09 2014-04-02
e 262.29 ABERDEEN FDS EMRGN   2012-12-05 2014-04-02
99.397 ABERDEEN FDS EMRGN   2013-08-09 2014-04-02
181.594 ABERDEEN FDS EMRGN   2012-12-05 2014-04-02
55.13 ABERDEEN FDS EMRGN   2013-08-09 2014-04-02
69.541 ABERDEEN FDS EMRGN   2013-08-09 2014-04-02
503.162 ABERDEEN FDS EMRGN   2012-12-05 2014-04-02
141.976 INV BALANCE RISK COMM STR Y   2011-06-16 2014-04-02
139.706 INV BALANCE RISK COMM STR Y   2012-02-07 2014-04-02
77.967 INV BALANCE RISK COMM STR Y   2013-08-09 2014-04-02
72.041 INV BALANCE RISK COMM STR Y   2013-08-09 2014-04-02
113.085 INV BALANCE RISK COMM STR Y   2012-02-07 2014-04-02
80.358 INV BALANCE RISK COMM STR Y   2011-06-16 2014-04-02
54.229 INV BALANCE RISK COMM STR Y   2013-08-09 2014-04-02
81.542 INV BALANCE RISK COMM STR Y   2013-08-09 2014-04-02
203.073 INV BALANCE RISK COMM STR Y   2011-06-16 2014-04-02
63.742 INV BALANCE RISK COMM STR Y   2013-08-09 2014-04-02
51.123 CREDIT SUISSE COMM RET ST CO   2013-08-09 2014-04-02
131.068 CREDIT SUISSE COMM RET ST CO   2009-07-28 2014-04-02
38.179 CREDIT SUISSE COMM RET ST CO   2013-08-09 2014-04-02
79.778 CREDIT SUISSE COMM RET ST CO   2013-08-09 2014-04-02
184.031 CREDIT SUISSE COMM RET ST CO   2009-07-28 2014-04-02
225.79 CREDIT SUISSE COMM RET ST CO   2012-02-07 2014-04-02
46.384 CREDIT SUISSE COMM RET ST CO   2013-08-09 2014-04-02
219.417 CREDIT SUISSE COMM RET ST CO   2012-02-07 2014-04-02
93.718 CREDIT SUISSE COMM RET ST CO   2013-08-09 2014-04-02
241.811 CREDIT SUISSE COMM RET ST CO   2009-07-28 2014-04-02
99.921 E I I INTL PPTY I   2012-12-05 2014-04-02
80.689 E I I INTL PPTY I   2012-12-05 2014-04-02
18.615 E I I INTL PPTY I   2013-08-09 2014-04-02
20.476 E I I INTL PPTY I   2013-08-09 2014-04-02
99.516 E I I INTL PPTY I   2012-12-05 2014-04-02
96.826 E I I INTL PPTY I   2012-12-05 2014-04-02
18.751 E I I INTL PPTY I   2013-08-09 2014-04-02
154.469 E I I INTL PPTY I   2012-12-05 2014-04-02
220.183 EATON VANCE GLOBAL MACRO FD CL I   2012-12-05 2014-04-02
146.63 EATON VANCE GLOBAL MACRO FD CL I   2012-12-05 2014-04-02
65.455 EATON VANCE GLOBAL MACRO FD CL I   2013-08-09 2014-04-02
66.494 EATON VANCE GLOBAL MACRO FD CL I   2013-08-09 2014-04-02
95.893 EATON VANCE GLOBAL MACRO FD CL I   2013-08-09 2014-04-02
226.3 EATON VANCE GLOBAL MACRO FD CL I   2012-12-05 2014-04-02
225.79 EATON VANCE GLOBAL MACRO FD CL I   2012-12-05 2014-04-02
99.126 EATON VANCE GLOBAL MACRO FD CL I   2013-08-09 2014-04-02
283.124 EATON VANCE GLOBAL MACRO FD CL I   2012-12-05 2014-04-02
128.569 EATON VANCE GLOBAL MACRO FD CL I   2013-08-09 2014-04-02
75.038 NUVEEN REAL ESTATE SECS I   2012-12-05 2014-04-02
8.931 NUVEEN REAL ESTATE SECS I   2013-08-09 2014-04-02
66.627 NUVEEN REAL ESTATE SECS I   2012-12-05 2014-04-02
4.431 NUVEEN REAL ESTATE SECS I   2013-08-08 2014-04-02
60.002 NUVEEN REAL ESTATE SECS I   2012-12-05 2014-04-02
52.768 NUVEEN REAL ESTATE SECS I   2011-11-29 2014-04-02
41.983 NUVEEN REAL ESTATE SECS I   2012-12-05 2014-04-02
68.94 NUVEEN INFLATION PRO SEC CL I   2010-10-04 2014-04-02
66.747 NUVEEN INFLATION PRO SEC CL I   2011-10-28 2014-04-02
68.19 NUVEEN INFLATION PRO SEC CL I   2010-10-04 2014-04-02
38.993 NUVEEN INFLATION PRO SEC CL I   2010-10-04 2014-04-02
51.972 NUVEEN INFLATION PRO SEC CL I   2010-10-04 2014-04-02
72.519 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-08 2014-04-02
78.556 NUVEEN GLOBAL INFRASTR FD CL I   2012-12-05 2014-04-02
73.041 NUVEEN GLOBAL INFRASTR FD CL I   2012-12-05 2014-04-02
35.806 NUVEEN GLOBAL INFRASTR FD CL I   2012-12-05 2014-04-02
44.372 NUVEEN GLOBAL INFRASTR FD CL I   2012-12-05 2014-04-02
377.467 PIMCO TOTAL RETURN FUND INST   2012-12-05 2014-04-02
251.014 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-04-02
362.516 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-04-02
399.287 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-04-02
489.079 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-04-02
35.638 SCOUT INTERNATIONAL FUND   2013-08-09 2014-04-02
37.592 SCOUT INTERNATIONAL FUND   2011-10-28 2014-04-02
70.308 SCOUT INTERNATIONAL FUND   2012-12-05 2014-04-02
73.12 SCOUT INTERNATIONAL FUND   2012-12-05 2014-04-02
49.464 SCOUT INTERNATIONAL FUND   2012-12-05 2014-04-02
92.053 SCOUT INTERNATIONAL FUND   2013-08-09 2014-04-02
72.559 AMERICAN CENTY INTL BOND FD INSTL   2014-04-02 2014-05-12
36.94 AMERICAN CENTY INTL BOND FD INSTL   2014-04-02 2014-05-12
49.32 AMERICAN CENTY INTL BOND FD INSTL   2014-04-02 2014-05-12
54.036 AMERICAN CENTY INTL BOND FD INSTL   2014-04-02 2014-05-12
55.633 AMERICAN CENTY INTL BOND FD INSTL   2014-04-02 2014-05-12
128.598 BLACKROCK EMERGING MKTS L S EQTY IS   2013-08-09 2014-06-04
164.361 BLACKROCK EMERGING MKTS L S EQTY IS   2013-08-09 2014-06-04
134.776 BLACKROCK EMERGING MKTS L S EQTY IS   2013-08-09 2014-06-04
92.923 BLACKROCK EMERGING MKTS L S EQTY IS   2013-08-09 2014-06-04
180.379 BLACKROCK EMERGING MKTS L S EQTY IS   2013-08-09 2014-06-04
41.846 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-06-05
55.837 NUVEEN SANTA BARBARA DIV GROWTH FD I   2012-12-05 2014-06-30
62.23 NUVEEN FUNDS CORE BD FD I   2009-07-28 2014-06-30
53.193 NUVEEN FUNDS CORE BD FD I   2011-06-16 2014-06-30
65.923 NUVEEN FUNDS CORE BD FD I   2011-10-28 2014-06-30
133.187 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-08 2014-06-30
146.623 NUVEEN GLOBAL INFRASTR FD CL I   2012-12-05 2014-06-30
186.267 PIMCO TOTAL RETURN FUND INST   2012-12-05 2014-06-30
68.684 ABERDEEN FDS EMRGN   2011-06-16 2014-09-29
6.486 ABERDEEN FDS EMRGN   2013-08-09 2014-09-29
90.794 AMERICAN CENT SMALL CAP VALU INS   2012-12-05 2014-09-29
88.411 AMERICAN CENT SMALL CAP VALU INS   2012-12-05 2014-09-29
118.326 AMERICAN CENT SMALL CAP VALU INS   2012-12-05 2014-09-29
68.884 AMERICAN CENT SMALL CAP VALU INS   2011-10-21 2014-09-29
93.784 AMERICAN CENT SMALL CAP VALU INS   2011-11-29 2014-09-29
46.855 DRIEHAUS ACTIVE INCOME FUND   2014-04-02 2014-09-29
48.261 DRIEHAUS ACTIVE INCOME FUND   2014-04-02 2014-09-29
43.646 FEDERATED INST HI YLD BD FD   2014-04-02 2014-09-29
51.289 FEDERATED INST HI YLD BD FD   2014-04-02 2014-09-29
199.607 GOLDMAN SACHS COMM STRAT INS   2014-04-02 2014-09-29
267.64 GOLDMAN SACHS COMM STRAT INS   2014-04-02 2014-09-29
204.876 GOLDMAN SACHS COMM STRAT INS   2014-04-02 2014-09-29
210.982 GOLDMAN SACHS COMM STRAT INS   2014-04-02 2014-09-29
169.492 GOLDMAN SACHS COMM STRAT INS   2014-04-02 2014-09-29
28.213 NEUBERGER BERMAN GENESIS INSTL FD   2011-06-16 2014-09-29
33.13 NEUBERGER BERMAN GENESIS INSTL FD   2011-06-16 2014-09-29
12.768 NEUBERGER BERMAN GENESIS INSTL FD   2011-06-16 2014-09-29
8.47 NEUBERGER BERMAN GENESIS INSTL FD   2011-06-16 2014-09-29
19.267 NEUBERGER BERMAN GENESIS INSTL FD   2011-06-16 2014-09-29
138.132 NEUBERGER BERMAN LONG SH INS   2013-08-09 2014-09-29
158. NEUBERGER BERMAN LONG SH INS   2013-08-09 2014-09-29
158.461 NEUBERGER BERMAN LONG SH INS   2013-08-09 2014-09-29
154.823 NEUBERGER BERMAN LONG SH INS   2013-08-09 2014-09-29
85.271 NEUBERGER BERMAN LONG SH INS   2013-08-09 2014-09-29
76.645 NUVEEN SANTA BARBARA DIV GROWTH FD I   2012-12-05 2014-09-29
40.669 NUVEEN SANTA BARBARA DIV GROWTH FD I   2012-12-05 2014-09-29
38.347 NUVEEN SANTA BARBARA DIV GROWTH FD I   2012-12-05 2014-09-29
66.088 NUVEEN FUNDS CORE BD FD I   2009-07-28 2014-09-29
495.766 NUVEEN FUNDS CORE BD FD I   2009-07-28 2014-09-29
48.733 NUVEEN FUNDS CORE BD FD I   2010-03-29 2014-09-29
39.254 NUVEEN FUNDS CORE BD FD I   2010-03-29 2014-09-29
53.264 NUVEEN FUNDS CORE BD FD I   2011-06-16 2014-09-29
274.017 NUVEEN FUNDS CORE BD FD I   2009-07-28 2014-09-29
29.441 NUVEEN FUNDS CORE BD FD I   2010-03-29 2014-09-29
21.96 NUVEEN FUNDS CORE BD FD I   2011-06-16 2014-09-29
286.419 NUVEEN FUNDS CORE BD FD I   2009-07-28 2014-09-29
19.627 NUVEEN FUNDS CORE BD FD I   2010-03-29 2014-09-29
188.618 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-08 2014-09-29
379.755 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-08 2014-09-29
275.908 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-08 2014-09-29
291.165 NUVEEN GLOBAL INFRASTR FD CL I   2013-08-09 2014-09-29
52.703 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-09-29
54.281 PIMCO TOTAL RETURN FUND INST   2013-08-09 2014-09-29
163.6 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
92.92954 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
79.835 T ROWE PRICE INTL BOND FUND   2014-06-30 2014-09-29
21.13046 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
149.047 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
112.28 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
113.151 T ROWE PRICE INTL BOND FUND   2013-08-09 2014-09-29
20.124 T ROWE PRICE MID CAP VALUE FD INC   2011-10-21 2014-09-29
83.038 LAUDUS INTERNATIONAL MARKETMASTERS   2013-08-09 2014-09-29
163.512 LAUDUS INTERNATIONAL MARKETMASTERS   2013-08-09 2014-09-29
37.469 LAUDUS INTERNATIONAL MARKETMASTERS   2012-12-05 2014-09-29
13.446 LAUDUS INTERNATIONAL MARKETMASTERS   2013-08-09 2014-09-29
12.778 LAUDUS INTERNATIONAL MARKETMASTERS   2012-12-05 2014-09-29
10.842 LAUDUS INTERNATIONAL MARKETMASTERS   2013-08-09 2014-09-29
84.07 SCOUT INTERNATIONAL FUND   2013-08-09 2014-09-29
124.716 SCOUT INTERNATIONAL FUND   2013-08-09 2014-09-29
165.135 SCOUT INTERNATIONAL FUND   2013-08-09 2014-09-29
122.977 SCOUT INTERNATIONAL FUND   2013-08-09 2014-09-29
126.612 SCOUT INTERNATIONAL FUND   2013-08-09 2014-09-29
50.497 MORGAN DEMPSEY SMALL MICRO CAP VALUE   2014-04-02 2014-09-29
80.261 MORGAN DEMPSEY SMALL MICRO CAP VALUE   2014-04-02 2014-09-29
120.442 MORGAN DEMPSEY SMALL MICRO CAP VALUE   2014-04-02 2014-09-29
84.418 MORGAN DEMPSEY SMALL MICRO CAP VALUE   2014-04-02 2014-09-29
76.049 MORGAN DEMPSEY SMALL MICRO CAP VALUE   2014-04-02 2014-09-29
95.274 LS OPPORTUNITY   2014-04-02 2014-09-29
59.723 LS OPPORTUNITY   2014-06-04 2014-09-29
11.403 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-09-29
44.087 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-09-29
68.638 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-09-29
22.883 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-09-29
25.213 VANGUARD EQUITY INCOME ADM   2012-12-05 2014-09-29
306.505 BAIRD AGGREGATE BOND FD INSTL   2014-09-29 2014-10-20
9.524 DRIEHAUS ACTIVE INCOME FUND   2014-04-02 2014-10-20
14.881 FEDERATED INST HI YLD BD FD   2014-04-02 2014-10-20
12.962 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2014-04-02 2014-10-20
43.368 LAUDUS INTERNATIONAL MARKETMASTERS   2012-12-05 2014-10-20
11.779 TCW EMERGING MARKETS INCOME FUND   2014-09-29 2014-10-20
103.449 LS OPPORTUNITY   2014-04-02 2014-10-20
336.38 NUVEEN INTERMEDIATE GOVT BD FD CL I   2014-09-29 2014-10-21
13.357 NUVEEN INFLATION PRO SEC CL I   2011-06-16 2014-10-21
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 514   502 12
b 5,736   5,552 184
c 5,584   5,320 264
d 769   751 18
e 3,887   3,818 69
1,473   1,438 35
2,691   2,527 164
817   798 19
1,031   1,006 25
7,457   7,326 131
1,265   1,572 -307
1,245   1,539 -294
695   700 -5
642   647 -5
1,008   1,245 -237
716   890 -174
483   487 -4
727   732 -5
1,809   2,248 -439
568   572 -4
390   369 21
999   1,051 -52
291   275 16
608   575 33
1,402   1,476 -74
1,721   1,819 -98
353   334 19
1,672   1,768 -96
714   676 38
1,843   1,939 -96
1,919   1,710 209
1,550   1,500 50
358   368 -10
393   405 -12
1,912   1,850 62
1,860   1,800 60
360   371 -11
2,967   2,872 95
2,057   2,152 -95
1,370   1,433 -63
611   625 -14
621   635 -14
896   916 -20
2,114   2,212 -98
2,109   2,207 -98
926   947 -21
2,644   2,768 -124
1,201   1,228 -27
1,633   1,486 147
194   197 -3
1,450   1,328 122
96   97 -1
1,306   1,054 252
1,148   894 254
914   811 103
754   732 22
730   765 -35
745   724 21
426   414 12
568   552 16
799   751 48
866   767 99
805   714 91
395   350 45
489   434 55
4,058   4,397 -339
2,698   2,716 -18
3,897   3,922 -25
4,292   4,320 -28
5,258   5,292 -34
1,326   1,264 62
1,399   1,152 247
2,617   2,309 308
2,722   2,401 321
1,841   1,624 217
3,426   3,264 162
1,037   1,022 15
528   520 8
705   694 11
772   761 11
795   783 12
1,277   1,373 -96
1,632   1,755 -123
1,338   1,439 -101
923   992 -69
1,791   1,926 -135
2,753   2,122 631
1,950   1,508 442
642   600 42
549   554 -5
680   690 -10
1,592   1,378 214
1,752   1,433 319
2,043   2,170 -127
1,020   982 38
96   94 2
854   790 64
832   769 63
1,113   1,029 84
648   557 91
883   741 142
494   505 -11
509   520 -11
437   452 -15
514   531 -17
1,062   1,136 -74
1,424   1,523 -99
1,090   1,166 -76
1,122   1,200 -78
902   964 -62
1,669   1,346 323
1,960   1,580 380
755   609 146
501   404 97
1,140   919 221
1,782   1,673 109
2,038   1,913 125
2,044   1,919 125
1,997   1,875 122
1,100   1,033 67
2,685   2,069 616
1,425   1,098 327
1,343   1,035 308
679   637 42
5,092   4,779 313
500   475 25
403   400 3
547   560 -13
2,814   2,642 172
302   300 2
226   231 -5
2,942   2,761 181
202   200 2
2,148   1,859 289
4,325   3,930 395
3,143   2,727 416
3,316   2,859 457
573   570 3
590   587 3
1,531   1,568 -37
870   891 -21
747   790 -43
198   203 -5
1,395   1,429 -34
1,051   1,076 -25
1,059   1,085 -26
649   453 196
1,909   1,769 140
3,759   3,648 111
861   737 124
309   300 9
294   251 43
249   242 7
3,016   2,831 185
4,474   4,422 52
5,923   5,856 67
4,411   4,143 268
4,542   4,268 274
662   728 -66
1,052   1,157 -105
1,579   1,737 -158
1,107   1,217 -110
997   1,097 -100
1,249   1,216 33
783   767 16
748   578 170
2,892   2,235 657
4,503   3,480 1,023
1,501   1,160 341
1,654   1,278 376
3,329   3,293 36
100   103 -3
150   154 -4
130   130  
955   853 102
100   101 -1
1,289   1,320 -31
2,987   2,951 36
150   145 5
      4,627
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       12
b       184
c       264
d       18
e       69
      35
      164
      19
      25
      131
      -307
      -294
      -5
      -5
      -237
      -174
      -4
      -5
      -439
      -4
      21
      -52
      16
      33
      -74
      -98
      19
      -96
      38
      -96
      209
      50
      -10
      -12
      62
      60
      -11
      95
      -95
      -63
      -14
      -14
      -20
      -98
      -98
      -21
      -124
      -27
      147
      -3
      122
      -1
      252
      254
      103
      22
      -35
      21
      12
      16
      48
      99
      91
      45
      55
      -339
      -18
      -25
      -28
      -34
      62
      247
      308
      321
      217
      162
      15
      8
      11
      11
      12
      -96
      -123
      -101
      -69
      -135
      631
      442
      42
      -5
      -10
      214
      319
      -127
      38
      2
      64
      63
      84
      91
      142
      -11
      -11
      -15
      -17
      -74
      -99
      -76
      -78
      -62
      323
      380
      146
      97
      221
      109
      125
      125
      122
      67
      616
      327
      308
      42
      313
      25
      3
      -13
      172
      2
      -5
      181
      2
      289
      395
      416
      457
      3
      3
      -37
      -21
      -43
      -5
      -34
      -25
      -26
      196
      140
      111
      124
      9
      43
      7
      185
      52
      67
      268
      274
      -66
      -105
      -158
      -110
      -100
      33
      16
      170
      657
      1,023
      341
      376
      36
      -3
      -4
       
      102
      -1
      -31
      36
      5
       
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 15,613
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 17,702 383,004 0.046219
2011 20,021 375,614 0.053302
2010 18,019 398,526 0.045214
2009 16,833 370,267 0.045462
2008 22,178 327,657 0.067687
2 Total of line 1, column (d) ...................... 2 0.257884
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 0.051577
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 385,161
5 Multiply line 4 by line 3....................... 5 19,865
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 142
7 Add lines 5 and 6......................... 7 20,007
8 Enter qualifying distributions from Part XII, line 4.............. 8 18,616
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 1 283
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............................ 3 283
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- ..... 5 283
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 1,036
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,036
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 753
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet284 RefundedBullet 11 469
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletND
    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 addressbullet  
    14
    The books are in care ofbulletUS BANK NATIONAL ASSN Telephone no.bullet (701) 795-6162
    Located atbullet600 DEMERS AVEGRAND FORKSND ZIP+4bullet58102
    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
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 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
     
    No
    .........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
    US BANK NA TRUSTEE
    6     		11,650    
    505 2ND AVE N
    FARGO,ND58102
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (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  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
     
    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
    19,258
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    283
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    283
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    18,975
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    18,975
    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
    18,975
    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 18,975
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only....... 15,988
    b Total for prior years:2011, 20, 20 0
    3 Excess distributions carryover, if any, to 2013:
    a From 2008....... 0
    b From 2009....... 0
    c From 2010....... 0
    d From 2011....... 0
    e From 2012....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 18,616
    a Applied to 2012, but not more than line 2a 15,988
    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..... 2,628
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		16,347
    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) ...     		0
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2009.... 0
    b Excess from 2010.... 0
    c Excess from 2011.... 0
    d Excess from 2012.... 0
    e Excess from 2013.... 0
    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).)
    NONE
    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
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    KAREN HORGE
    600 DEMERS AVE
    GRAND FORKS,ND58201
    (701) 795-6162
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORM
    cAny submission deadlines:
    NONE SCHOLARSHIPS TO STUDENTS AT THE UNIVERSITY OF ND
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    IN THE FIELD OF VISUAL ARTS
    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
    LEANN CZAPIEWSKI
    5626 159TH DR NE
    OSLO,MN56744     		NONE N/A SCHOLARSHIP 1,617
    KRISTINA SCHUSTER
    6055 COUNTY RD 4
    MINTO,ND58261     		NONE N/A SCHOLARSHIP 1,617
    SALVATION ARMY
    ATTN TRACY HORNING JD
    2445 PRIOR AVENUE
    ROSEVILLE,MN55116     		NONE PUBLIC GENERAL SUPPORT 2,198
    DIOCESE OF FARGO
    P O BOX 1750
    FARGO,ND58107     		NONE CHURCH GENERAL FUNDING 3,231
    WALSH COUNTY HISTORICAL
    MUSEUM
    P O BOX 312
    MINOT,ND58261     		NONE PUBLIC GENERAL SUPPORT 4,181
    SACRED HEART CATH CHURCH
    CEM ASSOC
    5201 BISHOPS BLVD SUITE A
    FARGO,ND58104     		NONE PUBLIC UPKEEP 3,142
    Total .................................bullet 3a 15,986
    bApproved for future payment
    Total .................................bullet 3b  
    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  
    4 Dividends and interest from securities....     14 7,781  
    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.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 15,613  
    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)..   23,395  
    13Total. Add line 12, columns (b), (d), and (e)..................
    1323,395
    (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 InvestmentsCorpBondsSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Name of Bond End of Year Book Value End of Year Fair Market Value
    NUVEEN CORE BOND FD 13,834 14,796
    CREDIT SUISSE COMM RET ST CO    
    NUVEEN INFLATION PRO SEC 7,368 7,686
    T ROWE PRICE INTL BOND FUND 5,474 5,286
    EATON VANCE GLOBAL MACRO    
    INV BALANCE RISK COMM STR    
    PIMCO TOTAL RETURN FUND INST 6,903 6,980
    AMER CENT DIVERSIFI BOND INS 4,308 4,292
    BAIRD AGGREGATE BOND FUND 9,610 9,664
    COLUMBIA INCOME FD CL Z 2,370 2,360
    NUVEEN INTERMEDIATE GOVT BD FD 10,939 11,014
    FEDERATED INST HI YLD BD FD 15,292 15,060
    NUVEEN HIGH INCOME BOND FD CL 7,715 7,471
    TCW EMERGING MARKETS INCOME FD 7,845 7,863
    DRIEHAUS ACTIVE INCOME FUND 8,517 8,335
    LOOMIS SAYLES STRATEGIC ALPHA 9,461 9,490

    TY 2013 InvestmentsCorpStockSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BLACKROCK EMERGING MKTS    
    NUVEEN REAL ESTATE 11,097 15,933
    BLACKROCK CAPITAL APPREC BR    
    NUVEEN MID CAP VALUE 1,117 2,316
    LAUDUS INTL MARKETMASTERS 5,091 5,918
    ABERDEEN FDS EMRGN 10,444 10,683
    AMERICAN CENT SMALL CAP VALU    
    NEUBERGER BERMAN GENESIS INSTL 7,004 8,986
    T ROWE PRICE MID CAP VALUE 11,106 13,192
    SCOUT INTERNATIONAL FUND    
    E I I INTL PPTY I    
    NEUBERGER BERMAN LONG SH INS 5,998 6,449
    NUVEEN GLOBAL INFRASTR FD    
    NUVEEN SANTA BARBARA DIV GROW 15,104 20,095
    RIVERPARK WEDGEWOOD FUND 19,725 27,331
    VANGUARD EQUITY INCOME 9,137 12,033
    GLENMEDE SC EQUITY PORT ADV 9,734 10,208
    JOHN HANCOCK FDS III DISCPLN V 17,397 17,750
    T ROWE PRICE GROWTH STOCK #40 13,514 14,021
    VANGUARD 500 INDEX ADMIRAL 17,752 18,912
    T ROWE PRICE MID CAP GROWTH FD 8,279 8,596
    FIDELITY INVT TR AD INTL DISCI 15,568 15,664
    T ROWE PRICE INTL&GR INC FD 14,283 13,947
    CAUSEWAY EMERGING MARKETS INST 11,042 11,436
    LS OPPORTUNITY 13,886 14,114
    ROBECO BOSTON PARTNERS L S RSR 7,675 7,747
    GOLDMAN SACHS COMM STRAT INS 9,374 8,122

    TY 2013 OtherAssetsSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUALS   32 32


    TY 2013 OtherDecreasesSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Description Amount
    ROUNDING 9


    TY 2013 OtherLiabilitiesSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Description Beginning of Year - Book Value End of Year - Book Value
    ROC ADJUSTMENT   208


    TY 2013 TaxesSchedule
    Name:
    PREPIORA STEPHANIE ENDOWMENT FD 60361300
    EIN: 45-6085277
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAX PAYMENT - PRIOR YE 905 0   0
    FEDERAL TAX 1,036 0   0
    FOREIGN TAXES ON QUALIFIED FOR 176 176   0
    FOREIGN TAXES ON NONQUALIFIED 31 31   0