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.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
RIVERWAY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)8400 NORMANDALE LAKE BLVD NO 920   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BLOOMINGTON, MN55437
A Employer identification number

41-6406915
B Telephone number (see instructions)

(952) 921-3994
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$4,064,608J 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
Sch. B ...............
3 Interest on savings and temporary cash investments 19,350 19,350  
4 Dividends and interest from securities...... 61,697 62,913  
5a Gross rents..............   5  
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 209,792
b Gross sales price for all assets on line 6a 8,954,933
7 Capital gain net income (from Part IV, line 2)... 210,664
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)....... Click to see attachment 3,749 3,729 0
12 Total. Add lines 1 through 11........ 294,588 296,661 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 5,750 2,875 0 2,875
c Other professional fees (attach schedule).... Click to see attachment 35,022 35,022 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,649 0 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 809 0 0 809
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 26 50 0 25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 47,256 37,947 0 3,709
25 Contributions, gifts, grants paid........ 166,800 166,800
26 Total expenses and disbursements. Add lines 24 and 25 214,056 37,947 0 170,509
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 80,532
b Net investment income (if negative, enter -0-) 258,714
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
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............... 29,578 46,603 46,603
2 Savings and temporary cash investments.......... 50,992 64,761 64,764
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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)........ 2,436,435 Click to see attachment2,884,169 3,253,467
c Investments—corporate bonds (attach schedule)........ 632,026 Click to see attachment113,475 117,328
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 334,280 Click to see attachment468,256 512,446
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment80,000 Click to see attachment70,000 Click to see attachment70,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,563,311 3,647,264 4,064,608
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)    
23 Total liabilities (add lines 17 through 22).......... 0 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 3,563,311 3,647,264
30 Total net assets or fund balances (see instructions)...... 3,563,311 3,647,264
31 Total liabilities and net assets/fund balances (see instructions).. 3,563,311 3,647,264
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 3,563,311
2 Enter amount from Part I, line 27a..................... 2 80,532
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 4,037
4 Add lines 1, 2, and 3.......................... 4 3,647,880
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 616
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,647,264
Form 990-PF (2014)
Form 990-PF (2014)
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 KKR LP - SCH K-1 ST GAIN P    
b KKR LP - SCH K-1 LT GAIN P    
c CARLYLE GROUP SCH K-1 - NET LT P    
d BLACKSTONE - SCH K-1 LT GAIN P    
e BLACKSTONE - SCH K-1 1231 GAIN P    
BLACKSTONE - SCH K-1 1250 GAIN P    
PUBLICLY TRADED SECURITIES P    
PUBLICLY TRADED SECURITIES P    
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       0
b       568
c       112
d       192
e       0
      0
4,546,838   4,343,297 203,541
4,407,072   4,401,844 5,228
1,023     1,023
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       0
b       568
c       112
d       192
e       0
      0
      203,541
      5,228
      1,023
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 2 210,664
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 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))
2013 177,680 4,080,937 0.043539
2012 179,274 3,570,509 0.050210
2011 182,947 3,626,331 0.050450
2010 131,000 3,150,960 0.041575
2009 197,219 2,520,107 0.078258
2 Total of line 1, column (d) ...................... 2 0.264032
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 0.052806
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 4,100,484
5 Multiply line 4 by line 3....................... 5 216,530
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,587
7 Add lines 5 and 6......................... 7 219,117
8 Enter qualifying distributions from Part XII, line 4.............. 8 170,509
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 (2014)
Form 990-PF (2014)
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 5,174
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 5,174
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 5,174
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 4,500
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,200
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 10,700
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 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 5,526
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet5,526 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 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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 ofbulletSHIRLEY A MOEN Telephone no.bullet (952) 921-3994
    Located atbullet8400 NORMANDALE LAKE BLVD 920BLOOMINGTONMN ZIP+4bullet55437
    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 2014, 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 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    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 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 2014?.............
    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 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    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 2014 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 2014.)....................
    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 2014?
    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 4945(d)(4)(A)? (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 (2014)
    Form 990-PF (2014)
    Page 7
    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
    HM BASKERVILLE JR TRUSTEE
    0.50     		0 0 0
    8400 NORMANDALE LAKE BLVD 920
    BLOOMINGTON,MN55437
    TERRY R BECKER TRUSTEE
    4.00     		0 0 809
    8400 NORMANDALE LAKE BLVD 920
    BLOOMINGTON,MN55437
    LAURA LEE BASKERVILLE BECKER TRUSTEE
    0.50     		0 0 0
    8400 NORMANDALE LAKE BLVD 920
    BLOOMINGTON,MN55437
    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 (2014)
    Form 990-PF (2014)
    Page 8
    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 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
    3,973,066
    b
    Average of monthly cash balances.......................
    1b
    114,862
    c
    Fair market value of all other assets (see instructions)................
    1c
    75,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,162,928
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    4,162,928
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    62,444
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,100,484
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    205,024
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    205,024
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    5,174
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,174
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    199,850
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    199,850
    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
    199,850
    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
    170,509
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    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
    170,509
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    170,509
    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 (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 199,850
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 160,562
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 170,509
    a Applied to 2013, but not more than line 2a 160,562
    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 2014 distributable amount..... 9,947
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 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 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		189,903
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    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 2014, 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) 2014 (b) 2013 (c) 2012 (d) 2011
             
    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).)
    HM BASKERVILLE JR
    TERRY R BECKER
    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 or e-mail address of the person to whom applications should be addressed:
    TERRY R BECKER
    8400 NORMANDALE LAKE BLVD 920
    BLOOMINGTON,MN55437
    (952) 921-3994
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORMAT/STATEMENT INCLUDING COPY OF IRS DETERMINATION LETTER
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    TRUST IS OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF I.R.C. 170(C) AND 501(C). THE TRUST WILL FUND GRANTS TO ORGANIZATIONS WHICH ARE EXEMPT FROM FEDERAL INCOME TAXATION UNDER I.R.C. 501(A) BY VIRTUE OF BEING DESCRIBED IN I.R.C. 501(C)(3) OR TO ORGANIZATIONS CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER I.R.C. 170(C)(2), 2055(A) AND 2522(A).
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    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
    ALZHEIMERS ASSOCIATION
    4550 W 77 ST
    EDINA,MN55435     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    ANGEL FOUNDATION
    700 S 3RD STREET 106W
    MINNEAPOLIS,MN55415     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    BRIDGING
    201 W 87 ST
    BLOOMINGTON,MN55420     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    CARING BRIDGE WEBSITE
    1715 YANKEE DOODLE RD 301
    EAGAN,MN55121     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,000
    CHILDREN'S CANCER RESEARCH
    7301 OHMS LN
    MINNEAPOLIS,MN55439     		NONE PUBLIC CHARITY PROGRAM SUPPORT 7,500
    CHRISTO RAY JESUIT HIGH SCHOOL
    2924 FOURTH AVENUE S
    MINNEAPOLIS,MN55408     		NONE PUBLIC CHARITY PROGRAM SUPPORT 7,500
    CITY OF LAKES COMMUNITY LAND TRUST
    2017 E 38 ST
    MINNEAPOLIS,MN55407     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,000
    DUNWOODY INSTITUTE
    818 DUNWOODY BLVD
    MINNEAPOLIS,MN55403     		NONE EDUCATIONAL PROGRAM SUPPORT 2,000
    EMERGE
    1101 W BROADWAY AVE
    MINNEAPOLIS,MN55411     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    GOLFERS AGAINST CANCERINC
    1700 LAKE KINGWOOD TR
    KINGWOOD,TX77339     		NONE PUBLIC CHARITY PROGRAM SUPPORT 3,000
    GREATER MINNEAPOLIS CRISIS NURSERY
    4544 FOURTH AVENUE SOUTH
    MINNEAPOLIS,MN55419     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    HIRED
    1200 PLYMOUTH AVE N
    MINNEAPOLIS,MN55411     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,000
    HOPE ACADEMY
    2300 CHICAGO AVE S
    MINNEAPOLIS,MN55404     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,800
    LIVING LANDS & WATERS
    17615 ROUTE 843 N
    EAST MOLINE,IL61244     		NONE PUBLIC CHARITY PROGRAM SUPPORT 10,000
    LOPPET FOUNDATION
    1301 THEODORE WIRTH PARKWAY
    MINNEAPOLIS,MN55422     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,000
    PAGE EDUCATION FUND
    PO BOX 581254
    MINNEAPOLIS,MN55454     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    SEAMENS CHURCH INSTITUTE
    74 TRINITY PLACE 1414
    NEW YORK,NY10006     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    SOJOURNER PROJECT
    PO BOX 272
    HOPKINS,MN55343     		NONE PUBLIC CHARITY PROGRAM SUPPORT 3,000
    SOUTHDALE YMCA
    7355 YORK AVESO
    EDINA,MN55435     		NONE PUBLIC CHARITY CAPITAL CAMPAIGN 30,000
    SOUTHSIDE FAMILY NURTURING CENTER
    2448 18TH AVE S
    MINNEAPOLIS,MN55404     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    ST STEPHENS HUMAN SERVICES
    2211 CLINTON AVE S
    MINNEAPOLIS,MN55404     		NONE PUBLIC CHARITY PROGRAM SUPPORT 3,000
    TREE HOUSE
    5666 LINCOLN DR
    EDINA,MN55436     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    TRUE FRIENDS CAMPS
    10509 108TH ST NW
    ANNANDALE,MN55302     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,500
    TWIN CITIES RISE
    800 WASHINGTON AVE N
    MINNEAPOLIS,MN55401     		NONE PUBLIC CHARITY PROGRAM SUPPORT 2,000
    URBAN HOMEWORKS
    2015 EMERSON AVENUE N
    MINNEAPOLIS,MN55411     		NONE PUBLIC CHARITY PROGRAM SUPPORT 50,000
    URBAN VENTURES
    3041 FOURTH AVE S
    MINNEAPOLIS,MN55408     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    YMCA OF METRO MPLS- SOUTHDALE
    30 S NINTH ST
    MINNEAPOLIS,MN55402     		NONE PUBLIC CHARITY PROGRAM SUPPORT 5,000
    Total .................................bullet 3a 166,800
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    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 ............     		    18 19,350  
    4 Dividends and interest from securities....     14 61,697  
    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.....     14 3,749  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 209,792  
    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).. 0 294,588 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13294,588
    (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 (2014)
    Form 990-PF (2014)
    Page 13
    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) 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 (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 5,750 2,875 0 2,875

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SPDR DJ WILSHIRE INTL RE ETF 113,475 117,328

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AQR DIVERSIFIED ARBITRAGE FUND 60,062 56,911
    ACCENTURE PLC 8,950 12,057
    AIR PRODS & CHEMS INC 2,471 4,205
    ALEXION PHARMACEUTICALS INC 3,848 7,956
    ALTRIA GROUP INC 31,533 32,114
    AMERICAN ELEC PWR INC 6,804 7,590
    AMERICAN INTL GROUP INC 5,967 8,625
    AMGEN INC 10,127 15,610
    APPLE INC 43,561 67,994
    BERKSHIRE HATHAWAY INC DEL 44,920 56,006
    BIOGEN IDEC INC 4,931 7,468
    BLACKROCK INC 16,500 23,599
    CAPITAL ONE FINL CORP 6,929 6,934
    CELGENE CORP 3,182 10,403
    CHEVRON CORP 9,277 9,647
    CIGNA CORP 8,862 10,703
    CITIGROUP INC 24,498 26,460
    COMCAST CORP 7,643 14,792
    CVS HEALTH CORP 16,486 31,686
    DELTA AIR LINES INC DEL 6,595 10,084
    DISNEY WALT CO 22,072 29,079
    DOLLAR GEN CORP 9,234 10,676
    ECOLAB INC 9,321 11,219
    EOG RES INC 11,698 13,074
    EXPRESS SCRIPTS HLDG CO 9,001 10,245
    FACEBOOK INC 2,589 7,100
    FEDEX CORP 5,111 9,562
    GOOGLE INC 9,475 11,054
    HALLIBURTON CO 8,299 6,411
    HOME DEPOT INC 13,726 20,889
    HONEYWELL INTL INC 11,365 13,889
    INTERNATIONAL PAPER CO 18,519 21,432
    INVESCO LTD 9,263 11,224
    LOWES COS INC 11,905 15,136
    MACYS INC 5,104 6,474
    MARATHON PETE CORP 12,615 12,907
    MORGAN STANLEY 18,451 25,336
    NETEASE INC 9,571 12,987
    PROCTER & GAMBLE CO 23,530 26,871
    SCHLUMBERGER LTD 19,326 20,217
    STARBUCKS CORP 11,299 11,815
    TE CONNECTIVITY LTD 7,606 13,219
    THERMO FISHER SCIENTIFIC CORP 6,057 8,530
    TIME WARNER INC 23,432 25,968
    UNION PAC CORP 7,269 15,791
    VALERO ENERGY CORP NEW 4,164 4,505
    WELLS FARGO & CO 15,454 25,765
    AKAMAI TECHNOLOGIES INC 9,136 11,962
    AUTONATION INC 4,188 5,316
    AVNET INC 5,240 5,894
    BAIDU INC 5,809 9,119
    CIMAREX ENERGY CO 6,567 6,572
    HIMAX TECHNOLOGIES INC 6,936 7,996
    LAM RESEARCH CORP 7,616 11,212
    LEAR CORP 4,316 8,141
    REINSURANCE GROUP AMER INC 7,274 10,865
    SM ENERGY CO 3,744 3,819
    TOWERS WATSON & CO 5,449 7,366
    UNITED RENTALS INC 3,072 7,651
    WYNDHAM WORLDWIDE CORP 11,136 14,922
    NEUSTAR INC 19,154 20,294
    ACTELION LTD 5,421 15,201
    BANCO BILBAO VIZCAYA ARGENTARIA 5,513 4,906
    BANK OF NOVA SCOTIA 6,713 6,455
    BP P L C 28,928 28,552
    COGECO CABLE INC 13,349 18,617
    ENERGIA DE PORTUGAL SA 17,071 23,737
    GEA GROUP AG 13,018 14,925
    HENKEL AG & CO KGAA 25,523 28,130
    HSBC HLDGS 21,131 18,986
    ICON PLC 6,844 7,343
    KDDI CORP 13,995 18,154
    KONINKLIJKE PHILIPS NV 36,950 37,940
    MARINE HARVEST 11,339 13,258
    RECKITT BENCKISER GROUP PLC 21,405 29,136
    SAFRAN SA 21,747 22,387
    SENSATA TECH HLDG NV 23,563 31,184
    SIEMENS AG 18,138 21,894
    SOFTBANK CORP 13,431 16,075
    SWISS RE LTD 13,712 14,648
    TENCENT HOLDINGS LIMITED 4,184 9,575
    TOTAL SA 4,320 5,042
    TOYOTA MOTOR CORP 24,052 24,207
    BANK OF CHINA LTD - H 14,115 19,994
    KASIKORNBANK PCL 8,712 10,373
    PING AN INSURANCE GROUP CO H 16,267 21,930
    UNIVERSAL ROB INA CORP 5,614 17,040
    ABBVIE INC 6,868 8,769
    ACE LTD 29,720 32,464
    ADVANCED AUTO PTS INC 12,960 16,571
    AFFILIATED MANAGERS GROUP 11,215 12,098
    ALLERGAN INC 7,727 8,716
    ALLSTATE CORP 12,888 14,600
    AMERIPRISE FINL INC 20,774 21,689
    APPLIED MATLS INC 7,088 7,800
    BOEING CO 14,869 14,298
    BROADCOM CORP 3,510 3,640
    CARDINAL HEALTH INC 20,357 21,971
    CONTINENTAL RES INC OKLAHOMA COM 5,086 5,064
    COSTCO WHSL CORP NEW 3,868 4,678
    CSX CORP 12,292 11,956
    CUMMINS INC 14,234 15,282
    DOW CHEM CO 8,298 8,515
    EMC CORP 3,405 3,433
    EXXON MOBIL CORP 40,651 38,644
    FISERV INC 6,060 6,032
    FLEETCOR TECHNOLOGIES INC 13,947 15,020
    FMC TECHNOLOGIES INC 3,796 3,326
    GOLDMAN SACHS GROUP INC 29,782 31,207
    HCA HLDGS INC 29,055 30,090
    HEWLETT PACKARD CO 11,543 12,611
    INTEL CORP 36,338 37,742
    J P MORGAN CHASE & CO 12,189 12,453
    KINDER MORGAN INC DEL 12,079 12,693
    KROGER CO 7,355 9,054
    LINCOLN NATL CORP IND 15,803 16,321
    MCKESSON CORP 14,971 16,833
    MERCK & CO INC 5,214 4,923
    MICROSOFT CORP 18,999 24,015
    MYLAN INC 3,006 3,664
    NIKE INC 10,641 10,511
    NORFOLK SOUTHERN CORP 11,865 13,592
    NVIDIA CORP 7,444 8,140
    OMNICOM GROUP INC 8,960 10,448
    PG&E CORP 26,993 28,781
    PVH CORP 10,017 10,125
    REGENERON PHARMACEUTICALS 14,698 14,769
    SKYWORKS SOLUTIONS INC 8,116 11,125
    SOUTHWEST AIRLS CO 25,275 31,446
    UNITED CONTL HLDGS INC 9,057 12,442
    UNITEDHEALTH GROUP INC 14,518 16,680
    XCEL ENERGY INC 13,467 15,538
    YAHOO INC 4,927 4,798
    ZIMMER HLDGS INC 11,075 12,273
    3M CO 24,026 27,606
    ALASKA AIR GROUP INC 10,522 15,179
    ASPEN TECHNOLOGY INC 6,120 5,043
    AXIS CAP HLDGS LTD 8,253 8,992
    BE AEROSPACE INC 3,819 2,379
    CLARCOR INC 6,544 6,684
    COGNEX CORP 4,534 5,414
    EVEREST RE GROUP LTD 6,850 7,153
    HUNT J B TRANS SVCS INC 11,036 12,132
    LAZARD LTD 21,115 22,814
    PACIRA PHARMACEUTICALS INC 14,187 13,654
    PALO ALTO NETWORKS INC 3,142 3,800
    RF MICRODEVICES INC 4,628 8,809
    SEALED AIR CORP NEW 12,634 16,166
    SOTHEBYS HLDGS INC 6,292 7,038
    SYNNEX CORP 3,295 3,674
    TCF FINL CORP 6,981 6,817
    VIPSHOP HLDGS LTD 4,736 6,057
    WABCO HLDGS INC 5,587 5,658
    WINTRUST FINL CORP 6,918 6,920
    AEGEAN MARINE PETE NETWORK INC 3,293 4,500
    AIRCASTLE LTD 8,172 8,420
    COLUMBIA BKG SYS INC 7,184 7,648
    CONSTANT CONTACT INC 6,670 7,413
    GASLOG LTD 3,260 3,561
    KLX INC 0 21
    MATADOR RES CO 3,909 3,480
    ON ASSIGNMENT INC 3,565 3,850
    SYNCHRONOSS TECHNOLOGIES INC 3,290 3,223
    ABB LTD 9,733 8,914
    ACKERMANS & VAN HAAREN NV 11,624 11,613
    AMS AG 4,894 4,706
    AURICO GOLD INC 6,151 5,674
    AVAGO TECHNOLOGIES LTD 6,105 9,556
    BANKIA SA 8,108 7,057
    BARCLAYS PLC 11,685 11,350
    BARRETT DEVELOPMENTS PLC 13,780 14,531
    BAYER AG 5,794 5,743
    BDO UNIBANK INC 6,685 6,664
    BELLATRIX EXPL LTD 22,152 8,889
    BG GROUP 6,510 4,423
    BHP BILLITON LTD 6,641 6,483
    BURBERRY GROUP PLC 9,334 9,611
    CANADIAN IMPERIAL BK COMM 9,868 9,207
    CHINA RESOURCES CEMENT HLDGS LTD 4,574 4,223
    CORE LABORATORIES N V 3,241 3,249
    DAI-ICHI LIFE INSURANCE CO 10,000 9,551
    DCC PLC 3,318 3,157
    ELECTROLUX AB 14,304 15,987
    ENI SPA 9,783 6,812
    FANUC CORP 6,192 6,321
    FAST RETAILING CO LTD 6,336 6,612
    FINMECCANICA SPA 5,652 5,569
    FUJI OIL CO LTD 5,961 5,003
    GOLDCORP INC 8,581 7,762
    GRIFOLS SA 3,316 3,286
    HEIDELBERGCEMENT AG 6,780 6,618
    HELVETIA HOLDING AG 15,863 15,265
    IAMGOLD CORP 5,276 5,376
    INDIVIOR PLC 546 836
    JAPAN AIRLINES CO LTD 20,546 22,099
    JAPAN TOBACCO INC 4,545 4,734
    JFE HLDGS INC 9,799 9,759
    K'S HLDGS CORP 9,517 8,413
    LUXOTTICA GROUP S P A 8,511 8,754
    MALLINCKRODT PLC 6,956 9,012
    MEDA AB-A SHS 15,527 16,455
    MERCK KGAA 19,671 19,073
    MITSUBISHI UFJ FINL GROUP INC 8,388 8,158
    MUENCHENER RUECKVER AG 24,737 23,867
    MURATA MFG CO 18,838 21,329
    NATIONAL GRID PLC 21,658 21,485
    NEXON CO LTD 8,431 7,976
    NISSAN MOTOR CO 8,275 8,217
    NOVARTIS AG 4,564 5,019
    NXP SEMICONDUCTORS NV 3,349 3,896
    OLD MUTUAL PLC 19,466 17,546
    OPEN TEXT CORP 6,230 7,939
    PARGESA HOLDING SA GENEVE ACT. 27,219 24,814
    PENNON GROUP PLC 4,638 4,929
    PERSIMMON PLC 5,791 6,074
    PRIMARY HEALTH CARE LTD 10,375 9,636
    RED ELECTRICA DE ESPANA 4,598 4,961
    RIO ALTO MINING LTD 6,831 6,020
    ROYAL DUTCH SHELL PLC 18,585 18,411
    RYOHIN KEIKAKU CO LTD 21,674 21,168
    SAP AG 9,307 7,966
    SPARK INFRASTRUCTURE GROUP 20,367 20,582
    TAISEI CORP 7,938 10,110
    TORONTO DOMINION BK ONTARIO 8,800 8,075
    TOYO TIRE & RUBBER CO LTD 16,284 18,348
    VALEANT PHARMACEUTICALS 5,023 5,592
    WEATHERFORD INTL PL 4,624 2,576
    ADVANCED SEMICONDUCTOR ENGR INC 15,955 15,086
    ALIBABA GROUP HLDG LTD 8,827 10,394
    AMBEV S A 12,554 11,240
    BANCO BRADESCO S A 8,209 7,371
    BRILLIANCE CHINA AUTOMOTIVE 3,275 2,886
    CHINA PACIFIC INS GROUP CO 15,689 22,325
    COMPANHIA PARANAENSE ENERG COP 14,928 13,420
    EMBRAER S A 9,920 9,743
    HDFC BK LTD 10,327 10,861
    HUADIAN POWER INTL CORP-H 12,213 19,671
    ICICI BK LTD 6,666 7,565
    JASA MARGA(PERSERO) TBK PT 17,411 18,431
    JD.COM INC 11,328 10,344
    MELLANOX TECHNOLOGIES LTD 6,172 6,110
    MONDI LTD 8,566 7,896
    NICE SYS LTD 8,670 9,877
    POSCO 14,474 12,890
    PT BANK RAKYAT INDONESIA 6,539 6,549
    ROYAL CARIBBEAN CRUISES LTD 7,549 9,266
    SAMSUNG ELECTRONICS CO LTD 10,734 9,068
    SHINHAN FINL GROUP CO LTD 29,641 25,890
    SINOTRANS LIMITED-H 7,961 8,973
    TATA MTRS LTD 19,856 20,548
    PROSPERITY BANCSHARES INC 0 31
    EAGLE MATERIALS INC 0 9

    TY 2014 InvestmentsOtherSchedule2
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ROBECO BOSTON PARTNERS LONG/SHORT RES FUND AT COST 101,004 106,363
    COHEN & STEERS REIT ETF AT COST 171,521 213,048
    PRUDENTIAL SHORT-TERM COP BD FUND INC CL Z AT COST 75,000 75,114
    CREDIT SUISSE COMMODITY-RETURN STRATEGY FUND CL I AT COST 120,731 117,791
    PIONEER GLOBAL HIGH YIELD FUND CL Y AT COST 0 130

    TY 2014 OtherAssetsSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    URBAN HOMEWORKS LLC - LOAN 80,000 70,000 70,000


    TY 2014 OtherDecreasesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MINNESOTA ATTORNEY GENERAL 25 0 0 25
    KKR SCH K-1 - INV INTEREST EXP 0 35 0 0
    CARLYLE GROUP LP - K-1 - INV INTEREST EXP 0 5 0 0
    BLACKSTONE - K-1 - PORTFOLIO DEDUCTION 0 6 0 0
    LAZARD - K-1 - PORTFOLIO DEDUCTION 0 1 0 0
    ADR FEES 1 1 0 0
    KKR - K-1 - PORTFOLIO DEDUCTION 0 2 0 0


    TY 2014 OtherIncomeSchedule2
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    URBAN HOMEWORKS - INTEREST PYMT ON NOTE 3,748 3,748  
    FOREIGN TAX RECLAIM 1 1  


    TY 2014 OtherIncreasesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Description Amount
       
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISORY FEES 35,022 35,022 0 0


    TY 2014 TaxesSchedule
    Name:
    RIVERWAY FOUNDATION
    EIN: 41-6406915
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAXES PAID - PRIOR YEAR 1,149 0 0 0
    FEDERAL EXTENSION PAYMENT 4,500 0 0 0