TY 2015 Form 990PF

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	6,628	6,628	6,628
	2	Savings and temporary cash investments.........	1,144,112	714,441	714,441
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,630,872	4,402,663	3,845,316
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	8,200	4,700	4,700
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,789,812	5,128,432	4,571,085
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	2,357,955	2,357,955
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	2,431,857	2,770,477
	30	Total net assets or fund balances (see instructions).....	4,789,812	5,128,432
	31	Total liabilities and net assets/fund balances (see instructions).	4,789,812	5,128,432

(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	EVERGREEN SMALLCAP FUND II	P
b	EVERGREEN SMALLCAP FUND II	P
c	EVERGREEN SMALLCAP FUND II	P
d	EVERGREEN SMALLCAP FUND	P
e	EVERGREEN SMALLCAP FUND	P
	EVERGREEN SMALLCAP FUND	P
	LARGE CAP CORE	P
	LARGE CAP CORE	P
	19.1085 EVERGREEN SMALLCAP FUND	P	2013-04-30	2015-04-30
	8.873 EVERGREEN SMALLCAP FUND II	P	2013-04-30	2015-04-30
	POCKET	P
	POCKET	P
	POCKET	P

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	229,992
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................	3

(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))
2014	225,125	4,490,669	0.050132
2013	215,189	4,125,969	0.052155
2012	200,247	3,691,841	0.054240
2011	166,679	3,519,041	0.047365
2010	144,706	2,920,259	0.049552

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	2,442
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	2,442
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	2,442
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	11,476
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............	7	11,476
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.	8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......	9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10	9,034
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax9,034	Refunded	11	0

(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
DAVID HARTWELL	PRESIDENT/TREASURER 0.00	0	0	0
1660 S HWY 100 STE 426 ST LOUIS PARK,MN55416
ELIZABETH DEBAUT	V. PRESIDENT/SECRETARY 0.00	0	0	0
1660 S HWY 100 STE 426 ST LOUIS PARK,MN55416

		(a) Corpus	(b) Years prior to 2014	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7					223,943
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	731
b From 2011......	319
c From 2012......	18,411
d From 2013......	14,763
e From 2014......	4,468
fTotal of lines 3a through e........		38,692
4Qualifying distributions for 2015 from Part
XII, line 4: $ 234,325
a Applied to 2014, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2015 distributable amount.....					223,943
e Remaining amount distributed out of corpus		10,382
5 Excess distributions carryover applied to 2015.		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		49,074
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 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					0
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 2010 not applied on line 5 or line 7 (see instructions) ...		731
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		48,343
10 Analysis of line 9:
a Excess from 2011....	319
b Excess from 2012....	18,411
c Excess from 2013....	14,763
d Excess from 2014....	4,468
e Excess from 2015....	10,382

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) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
CHILDREN AND NATURE NETWORK 808 14TH AVENUE SE MINNEAPOLIS,MN55414		PUBLIC CHARITY	CONNECT ALL CHILDREN, THEIR FAMILIES AND COMMUNITIES TO NATURE THROUGH INNOVATIVE IDEAS	5,000
INTERNATIONAL WOLF CENTER 7100 NORTHLAND CIRCLE NORTH 205 BROOKLYN PARK,MN55428		PUBLIC CHARITY	ADVANCES THE SURVIVAL OF WOLF POPULATIONS	500
AFTON HISTORICAL SOCIETY PRESS 3321 SAINT CROIX TRAIL SOUTH AFTON,MN55001		PUBLIC CHARITY	PUBLISHER OF REGIONAL BOOKS THAT CELEBRATE HISTORY, CULTURE AND ACHIEVEMENTS IN MINNESOTA	1,000
AUDUBON MINNESOTA 2357 VENTURA DRIVE SUITE 106 ST PAUL,MN55125		PUBLIC CHARITY	PROTECT ENVIRONMENT CONSERVE AND RESTORE NATURAL ECOSYSTEMS	15,000
PACIFIC FOREST TRUST 1001 OREILLY AVENUE SAN FRANCISCO,CA94129		PUBLIC CHARITY	SUSTAIN AMERICA'S FORESTS FOR THEIR PUBLIC BENEFITS OF WOOD, WATER, WILDLIFE AND PEOPLE'S WELL-BEING	1,000
BELWIN 1660 S HWY 100 SUITE 426 ST LOUIS PARK,MN55416		PUBLIC CHARITY	IN MINNESOTA INSPIRE CONNECTION TO NATURAL WORLD	2,500
CONSERVATION MINNESOTA 1101 WEST RIVER PARKWAY SUITE 250 MINNEAPOLIS,MN55415		PUBLIC CHARITY	ENVIRONMENTAL PROTECTION ORGANIZATION	15,000
GUILD INC 1025 DODD ROAD WEST ST PAUL,MN55118		PUBLIC CHARITY	HUMAN SERVICESHUMAN SERVICES	1,000
HENNEPIN THEATRE TRUST 910 HENNEPIN AVENUE MINNEAPOLIS,MN55403		PUBLIC CHARITY	THEATRE	1,000
ISLAND CONSERVATION 100 SHAFFER ROAD SANTA CRUZ,CA95060		PUBLIC CHARITY	MOST EFFECTIVE ORGANIZATION IN TERMS OF SPECIES SAVED FROM EXTINCTION	25,000
LAND TRUST ALLIANCE 1331 H STREET NW 400 WASHINGTON,DC20005		PUBLIC CHARITY	PROMOTE VOLUNTARY LAND CONSERVATION	35,000
MINNEAPOLIS COLLEGE OF ART AND DESIGN 2501 STEVENS AVENUE S MINNEAPOLIS,MN55404		PUBLIC CHARITY	PRIVATE ART AND DESIGN COLEGE IN MINNEAPOLIS	20,000
MINNESOTA HISTORICAL SOCIETY 345 KELLOGG BLVD W ST PAUL,MN55102		PUBLIC CHARITY	COLLECT, PRESERVE AND TELL ABOUT MINNESOTA	1,200
MINNESOTA LAND TRUST 70 NORTH 22ND AVE ST PAUL,MN55102		PUBLIC CHARITY	PROTECT OPEN SPACE IN MINNESOTA	30,000
MINNESOTA PUBLIC RADIO 45 EAST 7TH STREET ST PAUL,MN55101		PUBLIC CHARITY	ENRICHES MIND AND NOURISHES SPIRIT	100
MISSISSIPPI RIVER FUND 111 KELLOGG BOULEVARD EAST ST PAUL,MN55101		PUBLIC CHARITY	CLEAN WATER, CULTURAL LANDMARKS, CRITICAL HABITAT, SHARED NATURAL AND CULTURAL HERITAGE	1,000
NAMI 970 RAYMOND AVENUE 105 ST PAUL,MN55114		PUBLIC CHARITY	MENTAL HEALTH EDUCATION AND ADVOCACY	2,000
NATIONAL ARBOR DAY FOUNDATION 100 ARBOR AVENUE NEBRASKA CITY,NE68410		PUBLIC CHARITY	PLANTING AND CARING FOR TREES	1,500
NATIONAL AUDUBON SOCIETY 225 VARICK STREET 7TH FLOOR NEW YORK,NY10014		PUBLIC CHARITY	PROTECT ENVIRONMENT CONSERVE AND RESTORE NATURAL ECOSYSTEMS	30,000
NEW VENTURE FUND 1201 CONNECTICUT AVENUE NORTHWEST 300 WASHINGTON,DC20036		PUBLIC CHARITY	HEALTHIER, MORE EQUITABLE WORLD	10,000
PEOPLE INCORPORATED 317 YORK AVENUE ST PAUL,MN55101		PUBLIC CHARITY	PROMOTES INDEPENDENCE AND COMMUNITY INTEGRATION FOR PEOPLE WITH BRAIN DISORDERS	30,000
PLANNED PARENTHOOD OF MINNESOTA 1965 FORD PARKWAY ST PAUL,MN55116		PUBLIC CHARITY	PROVIDE AND PROTECT REPRODUCTIVE HEALTH	1,000
POSITIVE COACHING ALLIANCE 1001 N RENGSTORFF AVE MOUNTAIN VIEW,CA94043		PUBLIC CHARITY	PROVIDE YOUTH ATHLETES A POSITIVE CHARACTER BUILDING YOUTH SPORTS EXPERIENCE	1,000
TASKS UNLIMITED 2419 NICOLLET AVENUE SOUTH MINNEAPOLIS,MN55404		PUBLIC CHARITY	PROVIDE MENTAL HEALTH SERVICE JOBS FOR PEOPLE WITH MENTAL ILLNESS AND AFFORDABLE HOUSING	1,000
TEN THOUSAND THINGS 3153 36TH AVENUE SOUTH MINNEAPOLIS,MN55406		PUBLIC CHARITY	THEATRE	1,000
TRUST FOR PUBLIC LAND 116 NEW MONTGOMERY STREET 4TH FLOOR SAN FRANCISCO,CA94105		PUBLIC CHARITY	LAND CONSERVATION PROGRAMS	1,500
TWIN CITIES PUBLIC TELEVISION 172 FOURTH STREET EAST ST PAUL,MN551011492		PUBLIC CHARITY	ENRICH LIVES AND STRENGTHEN OUR COMMUNITY THROUGH THE POWER OF THE MEDIA	1,000
Total ................................. 3a				234,300

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	190,106
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	18,638		18,638
4	Dividends and interest from securities...	61,384		61,384
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		229,992
b	Gross sales price for all assets on line 6a 118,555
7	Capital gain net income (from Part IV, line 2)...			229,992
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).......		150,325	1,722
12	Total. Add lines 1 through 11........	650,445		311,736
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		60,451	60,451	0
17	Interest...............	2,010		2,010	0
18	Taxes (attach schedule) (see instructions)...		14,668	4,643	25
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		396	396	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	77,525		67,500	25
25	Contributions, gifts, grants paid.......	234,300			234,300
26	Total expenses and disbursements. Add lines 24 and 25	311,825		67,500	234,325
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	338,620
b	Net investment income (if negative, enter -0-)			244,236
c	Adjusted net income (if negative, enter -0-)...

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a			-1,666
b			27,873
c			2
d			-2,860
e			20,687
			41
			-8,682
			155,474
	62,000	54,310	7,690
	56,555	49,320	7,235
			5,570
			12,272
			6,356

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			-1,666
b			27,873
c			2
d			-2,860
e			20,687
			41
			-8,682
			155,474
			7,690
			7,235
			5,570
			12,272
			6,356

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

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	18,638
4 Dividends and interest from securities....			14	61,384
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	150,325
8 Gain or (loss) from sales of assets other than inventory ............			14	229,992
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		460,339	0


(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...................				0

bApproved for future payment

Total ................................. 3b				0

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

Name of organization OPEN DOOR FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	CHARITABLE LEAD ANNUITY TRUST NO 1 1660 S HWY 100 PARKDALE PLAZA STE 4 ST LOUIS PARK, MN55416	$ 173,876	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	CHARLES H BELL CHARITABLE LEAD ANNU 1660 S HWY 100 PARKDALE PLAZA STE 4 ST LOUIS PARK, MN55416	$ 16,230	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Name of organization OPEN DOOR FOUNDATION		Employer identification number 41-1859476

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)


Name of organization OPEN DOOR FOUNDATION			Employer identification number 41-1859476
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
EVERGREEN SMALLCAP FUND II	AT COST	139,304	167,134
ML WARBURG PINCUS TRUST	AT COST	33,612	2,061
FLAG VENTURE PARTNERS III	AT COST	51,406	4,394
FLAG VENTURE PARTNERS IV	AT COST	8,452	3,060
EVERGREEN SMALLCAP FUND	AT COST	139,026	169,308
EVERGREEN LARGE CAP CORE	AT COST	1,312,880	1,352,545
J P MORGAN REAL ESTATE	AT COST	155,333	168,575
INVESCO REAL ESTATE FUND I, LLC	AT COST	64,740	7,871
J.P. MORGAN REIT	AT COST	7	7
WAYZATA OPPORTUNITY FUND	AT COST	80,553	10,393
WAYZATA OPPORTUNITY FUND II	AT COST	129,500	31,293
WESTLY CAPITAL PARTNERS FUND	AT COST	80,000	27,827
EUROPEAN SECONDARY OPPORTUNITY	AT COST	64,851	51,281
HARRISON STREET REAL ESTATE PARTNERS	AT COST	108,407	71,273
WESTLY CAPITAL PARTNERS FUND II	AT COST	86,468	73,872
FUNDAMENTAL PARTNERS MUNICIPAL	AT COST	154,500	122,669
INTERNATIONAL FARMLAND TRUST	AT COST	150,000	121,494
PINEBRIDGE STRUCTURED CAPITAL	AT COST	215,900	198,474
EATON VANCE PARA TX MGD	AT COST	556,000	431,040
ISHARES MSCI EAFE ETF	AT COST	406,749	387,552
SIGHTLINE HEALTHCARE OPPORTUNITY	AT COST	58,500	69,648
SPECIAL CREDIT OPPORTUNITIES	AT COST	88,617	75,424
ISHARES CORE MSCI EAFE ETF	AT COST	103,617	92,446
FUNDAMENTAL PARTNERS III	AT COST	112,468	104,708
GROSVENOR	AT COST	101,773	100,967

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
NOTE RECEIVABLE ST. CROIX VALLEY ATHLETIC PARTNERSHIP	4,700	4,700	4,700
NOTE RECEIVABLE ST. CROIX SOCCER CLUB	3,500

Category	Amount	Net Investment Income
ACCOUNTING - INVESTMENT MANAGEMENT	18,451	18,451
EVERGREEN SMALLCAP FUND II	91	91
EVERGREEN SMALLCAP FUND	468	468
	0	0
EVERGREEN SMALLCAP FUND II	605	605
POCKET LLC	27,079	27,079
LARGE CAP CORE I	13,757	13,757

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
MN FILING FEE	25	0	25
BURR OAK GROUP, INC.	2,829	2,829	0
LARGE CAP CORE	1,814	1,814	0
FEDERAL TAXES	10,000	0	0

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