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
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
1988 IRREV COCHRANE MEMORIAL TR 25293320
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

41-6309348
B Telephone number (see instructions)

(651) 466-8708
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$10,224,734J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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      
4 Dividends and interest from securities... 207,937 206,440  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,373,268
b Gross sales price for all assets on line 6a 4,021,011
7 Capital gain net income (from Part IV, line 2)... 1,373,268
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........ 1,581,205 1,579,708  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 73,553 58,842   14,711
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)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 33,694 2,344   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)....... Click to see attachment 25     25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 108,772 61,186 0 16,236
25 Contributions, gifts, grants paid....... 695,000 695,000
26 Total expenses and disbursements. Add lines 24 and 25 803,772 61,186 0 711,236
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 777,433
b Net investment income (if negative, enter -0-) 1,518,522
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
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............. 13,064 4,985 4,985
2 Savings and temporary cash investments......... 1,721,050 434,939 434,939
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)....... 4,157,170 Click to see attachment3,156,085 5,246,959
c Investments—corporate bonds (attach schedule)....... 1,663,461 Click to see attachment1,413,201 1,344,071
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment3,323,988 3,188,783
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment4,416 Click to see attachment4,997 Click to see attachment4,997
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,559,161 8,338,195 10,224,734
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 attachment771  
23 Total liabilities (add lines 17 through 22)......... 771 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........ 651,313 653,685
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 6,907,077 7,684,510
30 Total net assets or fund balances (see instructions)..... 7,558,390 8,338,195
31 Total liabilities and net assets/fund balances (see instructions). 7,559,161 8,338,195
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
7,558,390
2
Enter amount from Part I, line 27a .....................
2
777,433
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,802
4
Add lines 1, 2, and 3 ..........................
4
8,338,625
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
430
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
8,338,195
Form 990-PF (2015)
Form 990-PF (2015)
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 45711.545 ABERDEEN FDS EMRGN     2015-01-09
b 4318.927 NUVEEN SMALL CAP SELECT FD CL I   2014-12-16 2015-01-09
c 4345.047 NUVEEN SMALL CAP SELECT FD CL I   1994-04-30 2015-01-09
d 9379.304 NUVEEN SMALL CAP SELECT FD CL I     2015-01-09
e 316.00114 COUSINS PPTYS INC     2015-01-12
294.99886 COUSINS PPTYS INC   2014-08-13 2015-01-12
236. EDUCATION REALTY TRUST INC     2015-01-12
179. STAG INDUSTRIAL INC     2015-01-12
143. COUSINS PPTYS INC   2014-08-10 2015-01-20
50. GENERAL GROWTH PROPERTIES   2015-01-12 2015-01-20
61. HOST HOTELS RESORTS INC   2015-01-09 2015-01-20
700. SPDR DOW JONES INTERNATIONAL ETF   2012-06-27 2015-02-03
14. AVALONBAY CMNTYS INC   2015-01-09 2015-02-11
152. COUSINS PPTYS INC   2014-08-10 2015-02-11
271. CUBESMART     2015-02-11
66. EXTRA SPACE STORAGE INC     2015-02-11
103. URBAN EDGE PROPERTIES W I     2015-02-20
196. CUBESMART   2014-08-13 2015-02-24
217. HOST HOTELS RESORTS INC     2015-02-24
66. STARWOOD HOTELS & RESORTS     2015-02-24
67. CUBESMART   2014-08-13 2015-02-26
77. HOST HOTELS RESORTS INC   2014-08-13 2015-02-26
44. KITE REALTY GROUP TRUST   2015-01-09 2015-02-26
21. NATIONAL HEALTH INVS INC   2015-01-09 2015-02-26
74. ACADIA RLTY TR   2015-01-09 2015-03-04
16. CHESAPEAKE LODGING TRUST   2015-01-09 2015-03-13
243. KITE REALTY GROUP TRUST     2015-03-13
25. SIMON PPTY GROUP INC NEW COM     2015-03-13
16. TANGER FACTORY OUTLET CENTER   2015-01-09 2015-03-13
57. AVALONBAY CMNTYS INC   2015-01-09 2015-03-19
37. CHESAPEAKE LODGING TRUST   2015-01-09 2015-03-19
30. HIGHWOODS PROPERTIES INC   2015-01-09 2015-03-23
18. PROLOGIS INC   2015-02-11 2015-03-23
74. RAMCO GERSHENSON PROPERTIES   2015-01-09 2015-03-23
3750. 3M CO   1970-12-25 2015-03-23
14. VENTAS INC   2015-01-20 2015-03-23
416. AMERICAN REALTY CAPITAL PROP INC     2015-03-27
29. LASALLE HOTEL PROPERTIES   2015-01-09 2015-03-27
.5 GRAMERCY PROPERTY TRUST INC   2014-12-31 2015-04-06
74. FIRST INDL RLTY TR INC   2015-01-09 2015-04-13
66. HOST HOTELS RESORTS INC   2014-08-13 2015-04-13
45. LASALLE HOTEL PROPERTIES   2015-01-09 2015-04-13
62. MACERICH CO     2015-04-13
113. PROLOGIS INC     2015-04-27
7621.951 CAUSEWAY EMERGING MARKETS INSTL   2015-01-09 2015-04-29
6752.194 FORWARD INTERNATIONAL REAL ESTATE   2014-03-27 2015-04-29
8655.511 NEUBERGER BERMAN EMERG MKTS EQ INSTL   2015-01-09 2015-04-29
5621.135 NUVEEN REAL ESTATE SECS I   2008-01-23 2015-04-29
5980.861 OPPENHEIMER SENIOR FLOATING RATE I   2014-08-06 2015-04-29
1408.848 SCOUT INTERNATIONAL FUND   2013-10-04 2015-04-29
379. PROLOGIS INC     2015-05-05
96.99831 GENERAL GROWTH PROPERTIES     2015-05-08
81.00169 GENERAL GROWTH PROPERTIES     2015-05-08
79. PROLOGIS INC   2014-12-31 2015-05-08
5. HEALTH CARE REIT INC   2015-01-20 2015-05-13
116. PROLOGIS INC   2014-12-31 2015-05-13
31. SABRA HEALTH CARE REIT INC   2015-01-09 2015-05-13
4. VORNADO REALTY TRUST   2015-01-09 2015-05-13
84. FIRST INDL RLTY TR INC     2015-05-18
78. PROLOGIS INC   2014-12-31 2015-05-18
68. DIAMONDROCK HOSPITALITY CO   2015-01-09 2015-05-22
11. EXTRA SPACE STORAGE INC   2015-05-18 2015-05-22
79. EXTRA SPACE STORAGE INC     2015-05-22
185. FIRST INDL RLTY TR INC     2015-05-22
22. ALEXANDRIA REAL ESTATE EQUITIES INC   2015-01-09 2015-05-29
74. EQUITY RESIDENTIAL PPTYS TR SH BEN INT     2015-05-29
98. EXTRA SPACE STORAGE INC     2015-05-29
66. SABRA HEALTH CARE REIT INC     2015-05-29
46. EXTRA SPACE STORAGE INC     2015-06-04
96. FIRST INDL RLTY TR INC   2014-08-13 2015-06-04
94. FIRST INDL RLTY TR INC   2014-08-13 2015-06-12
13. VENTAS INC   2014-12-24 2015-06-12
232. GENERAL GROWTH PROPERTIES     2015-06-18
173. GRAMERCY PROPERTY TRUST INC     2015-06-18
306. GENERAL GROWTH PROPERTIES   2014-08-13 2015-06-22
68. GRAMERCY PROPERTY TRUST INC   2014-12-31 2015-06-22
86. GRAMERCY PROPERTY TRUST INC     2015-06-25
61. NATIONAL RETAIL PROPERTIES INC     2015-06-25
100. GRAMERCY PROPERTY TRUST INC   2015-01-12 2015-07-01
95. RAMCO GERSHENSON PROPERTIES     2015-07-01
43. ACADIA RLTY TR   2015-01-09 2015-07-09
4. BOSTON PPTYS INC   2015-01-09 2015-07-09
118. NATIONAL RETAIL PROPERTIES INC   2015-03-13 2015-07-09
347. RAMCO GERSHENSON PROPERTIES   2014-08-13 2015-07-09
14. TAUBMAN CENTERS INC   2015-03-13 2015-07-09
31. VENTAS INC     2015-07-13
54. ACADIA RLTY TR   2015-01-09 2015-07-22
188. CUBESMART     2015-07-22
60. SABRA HEALTH CARE REIT INC     2015-07-22
20. VENTAS INC     2015-07-22
200000. WESTPAC BANKING 3.000% 8/04/15     2015-08-04
11. ASHFORD HOSPITALITY PRIME IN   2015-07-27 2015-08-06
253. CUBESMART   2015-03-19 2015-08-06
10167.194 NUVEEN TRADEWINDS INTL VAL - CL I   2011-12-23 2015-08-06
29. TANGER FACTORY OUTLET CENTER   2015-01-09 2015-08-06
24. ACADIA RLTY TR   2015-01-09 2015-08-18
37. ACADIA RLTY TR   2014-08-13 2015-08-18
123. BRANDYWINE REALTY TRUST   2015-01-09 2015-08-18
250. BRANDYWINE REALTY TRUST   2014-08-13 2015-08-18
13. CHATHAM LODGING TRUST   2015-01-09 2015-08-18
84. EXTRA SPACE STORAGE INC   2014-08-13 2015-08-18
30. HIGHWOODS PROPERTIES INC   2015-01-09 2015-08-18
57. VORNADO REALTY TRUST   2015-01-09 2015-08-18
145. VORNADO REALTY TRUST   2014-08-13 2015-08-18
81. SABRA HEALTH CARE REIT INC   2014-08-13 2015-08-19
.7472 ASHFORD HOSPITALITY PRIME IN   2015-07-27 2015-08-20
89. CUBESMART   2014-08-13 2015-08-21
15. ESSEX PPTY TR INC   2014-08-13 2015-08-21
22. EXTRA SPACE STORAGE INC   2014-08-13 2015-08-21
27. SOVRAN SELF STORAGE INC   2015-05-18 2015-08-21
24. VENTAS INC   2014-08-13 2015-08-21
13. ALEXANDRIA REAL ESTATE EQUITIES INC   2014-08-18 2015-09-03
6. ALEXANDRIA REAL ESTATE EQUITIES INC   2015-01-09 2015-09-03
119. CUBESMART   2014-08-13 2015-09-03
83. CUBESMART     2015-09-03
.25 CARE CAPITAL PROPERTIES INC   2014-08-13 2015-09-14
48. ALEXANDRIA REAL ESTATE EQUITIES INC     2015-09-23
82. FELCOR LODGING TR INC   2015-04-13 2015-09-23
7. HOST HOTELS RESORTS INC   2015-06-04 2015-09-23
5. LASALLE HOTEL PROPERTIES   2015-01-09 2015-09-23
10. ALEXANDRIA REAL ESTATE EQUITIES INC   2014-08-13 2015-09-24
397. CUBESMART     2015-09-24
.99974 AVALONBAY CMNTYS INC   2015-08-18 2015-09-28
8.00026 AVALONBAY CMNTYS INC   2015-08-18 2015-09-28
12. CHESAPEAKE LODGING TRUST   2015-01-09 2015-09-28
8. SIMON PPTY GROUP INC NEW COM   2015-01-09 2015-09-28
332. PARKWAY PPTYS INC     2015-10-02
79. EQUITY RESIDENTIAL PPTYS TR SH BEN INT     2015-10-08
27. LASALLE HOTEL PROPERTIES   2014-08-13 2015-10-08
30. LASALLE HOTEL PROPERTIES     2015-10-08
5. WELLTOWER INC   2015-01-20 2015-10-08
14. WELLTOWER INC   2015-01-09 2015-10-08
14. AVALONBAY CMNTYS INC     2015-10-13
20. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2014-08-13 2015-10-13
26. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2015-08-18 2015-10-13
98. SOVRAN SELF STORAGE INC     2015-10-19
27. AVALONBAY CMNTYS INC   2014-08-13 2015-10-21
19.75 CARE CAPITAL PROPERTIES INC   2014-08-13 2015-10-21
59.25 CARE CAPITAL PROPERTIES INC     2015-10-21
9. ESSEX PPTY TR INC   2014-08-13 2015-10-21
46. SOVRAN SELF STORAGE INC     2015-10-21
48.00082 TANGER FACTORY OUTLET CENTER   2015-01-09 2015-10-21
51.99918 TANGER FACTORY OUTLET CENTER     2015-10-21
90. UDR INC   2015-08-18 2015-10-21
51. CHATHAM LODGING TRUST   2015-01-09 2015-10-26
50. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2014-08-13 2015-10-26
5. ESSEX PPTY TR INC   2014-08-13 2015-10-26
53. LASALLE HOTEL PROPERTIES   2014-08-13 2015-10-26
39. UDR INC   2015-08-18 2015-10-26
24. AVALONBAY CMNTYS INC   2014-08-13 2015-10-30
12. AVALONBAY CMNTYS INC   2015-08-18 2015-10-30
41. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2014-08-13 2015-10-30
50. ESSEX PPTY TR INC     2015-10-30
90. LASALLE HOTEL PROPERTIES   2014-08-13 2015-10-30
47. TANGER FACTORY OUTLET CENTER     2015-10-30
178. UDR INC     2015-10-30
156. BIOMED REALTY TRUST INC   2015-09-24 2015-11-06
115. DIAMONDROCK HOSPITALITY CO   2015-01-09 2015-11-06
28.99977 PROLOGIS INC   2015-10-21 2015-11-06
45.00023 PROLOGIS INC     2015-11-06
98. UDR INC     2015-11-06
52. VENTAS INC     2015-11-06
47. HIGHWOODS PROPERTIES INC   2015-01-09 2015-11-10
111. KIMCO RLTY CORP     2015-11-10
77. PROLOGIS INC   2015-08-18 2015-11-10
66. VENTAS INC     2015-11-10
54. WELLTOWER INC   2015-01-09 2015-11-10
25. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2014-08-13 2015-11-20
14. EQUITY RESIDENTIAL PPTYS TR SH BEN INT   2015-01-09 2015-11-20
8. MACERICH CO   2015-10-30 2015-11-20
79. PROLOGIS INC     2015-11-20
2. SIMON PPTY GROUP INC NEW COM   2015-01-04 2015-11-20
5. TAUBMAN CENTERS INC   2015-02-20 2015-11-20
9939.318 SCOUT INTERNATIONAL FUND     2015-11-24
3750. 3M CO   1970-12-25 2015-11-24
189. DUKE REALTY CORPORATION     2015-12-17
87. PROLOGIS INC     2015-12-17
100. ASHFORD HOSPITALITY TR INC   2015-01-09 2015-12-22
187. ASHFORD HOSPITALITY TR INC   2014-08-13 2015-12-22
246. DUKE REALTY CORPORATION     2015-12-22
55. PROLOGIS INC   2015-08-21 2015-12-22
28. STARWOOD HOTELS & RESORTS   2015-11-10 2015-12-22
32. STARWOOD HOTELS & RESORTS   2015-11-10 2015-12-22
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 616,192   650,000 -33,808
b 54,764   52,389 2,375
c 55,095   49,999 5,096
d 118,930   141,471 -22,541
e 3,549   4,016 -467
3,313   3,794 -481
9,278   8,087 1,191
4,663   4,231 432
1,574   1,860 -286
1,517   1,520 -3
1,443   1,451 -8
30,645   25,032 5,613
2,397   2,429 -32
1,661   1,977 -316
6,673   6,182 491
4,318   4,191 127
2,472   2,187 285
4,649   3,742 907
4,609   5,111 -502
5,259   5,066 193
1,578   1,279 299
1,629   1,708 -79
1,238   1,321 -83
1,505   1,554 -49
2,509   2,537 -28
530   592 -62
6,520   6,302 218
4,589   4,910 -321
559   623 -64
9,966   9,891 75
1,233   1,368 -135
1,397   1,373 24
804   805 -1
1,422   1,427 -5
623,702   278 623,424
1,038   1,110 -72
4,060   3,854 206
1,107   1,207 -100
14   14  
1,513   1,624 -111
1,339   1,464 -125
1,707   1,873 -166
5,107   5,432 -325
4,786   5,040 -254
99,238   88,948 10,290
108,170   100,000 8,170
149,134   138,748 10,386
134,570   98,386 36,184
48,804   50,000 -1,196
49,535   50,451 -916
14,998   16,726 -1,728
2,700   2,935 -235
2,255   2,414 -159
3,240   3,463 -223
353   418 -65
4,640   5,085 -445
826   988 -162
400   448 -48
1,709   1,843 -134
3,165   3,420 -255
906   1,021 -115
777   788 -11
5,582   5,312 270
3,687   3,589 98
2,056   2,051 5
5,513   5,787 -274
6,864   6,476 388
1,744   1,994 -250
3,113   3,014 99
1,868   1,775 93
1,838   1,738 100
829   1,042 -213
6,345   6,447 -102
4,436   4,883 -447
8,277   7,382 895
1,705   1,918 -213
2,057   2,411 -354
2,147   2,469 -322
2,285   2,796 -511
1,544   1,825 -281
1,335   1,474 -139
497   552 -55
4,311   4,688 -377
5,851   5,776 75
993   1,076 -83
2,001   2,414 -413
1,710   1,852 -142
4,704   4,562 142
1,630   1,650 -20
1,287   1,535 -248
200,000   200,260 -260
149   164 -15
6,530   6,109 421
251,638   225,000 26,638
933   1,129 -196
778   823 -45
1,200   1,061 139
1,694   1,964 -270
3,442   3,913 -471
318   402 -84
6,588   4,531 2,057
1,259   1,372 -113
5,489   6,391 -902
13,962   14,009 -47
2,122   2,199 -77
9   11 -2
2,334   1,699 635
3,383   2,870 513
1,702   1,187 515
2,627   2,481 146
1,447   1,351 96
1,111   1,027 84
513   559 -46
2,991   2,272 719
2,086   1,999 87
8   8  
4,304   3,771 533
612   929 -317
112   140 -28
144   208 -64
890   784 106
10,500   9,322 1,178
167   180 -13
1,335   1,439 -104
321   443 -122
1,436   1,568 -132
5,156   5,738 -582
6,063   6,134 -71
836   957 -121
929   1,226 -297
345   418 -73
966   1,040 -74
2,514   2,550 -36
1,543   1,321 222
2,006   2,018 -12
9,540   8,993 547
4,985   4,119 866
668   661 7
2,005   2,276 -271
2,116   1,722 394
4,521   4,216 305
1,703   1,869 -166
1,845   2,073 -228
3,244   3,193 51
1,172   1,576 -404
4,053   3,302 751
1,144   957 187
1,508   1,879 -371
1,383   1,384 -1
4,189   3,661 528
2,095   2,158 -63
3,167   2,708 459
11,001   11,241 -240
2,643   3,190 -547
1,642   1,735 -93
6,127   6,131 -4
3,624   3,288 336
1,325   1,726 -401
1,210   1,244 -34
1,878   1,930 -52
3,328   3,279 49
2,647   3,454 -807
1,974   2,150 -176
2,846   2,971 -125
3,152   3,253 -101
3,292   4,312 -1,020
3,206   4,301 -1,095
1,992   1,651 341
1,116   1,081 35
640   678 -38
3,391   3,372 19
384   400 -16
359   406 -47
312,691   334,549 -21,858
591,084   278 590,806
3,975   3,958 17
3,652   3,634 18
636   1,006 -370
1,189   2,081 -892
5,142   5,106 36
2,319   2,276 43
1,941   2,159 -218
2,194   2,468 -274
      138,158
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       -33,808
b       2,375
c       5,096
d       -22,541
e       -467
      -481
      1,191
      432
      -286
      -3
      -8
      5,613
      -32
      -316
      491
      127
      285
      907
      -502
      193
      299
      -79
      -83
      -49
      -28
      -62
      218
      -321
      -64
      75
      -135
      24
      -1
      -5
      623,424
      -72
      206
      -100
       
      -111
      -125
      -166
      -325
      -254
      10,290
      8,170
      10,386
      36,184
      -1,196
      -916
      -1,728
      -235
      -159
      -223
      -65
      -445
      -162
      -48
      -134
      -255
      -115
      -11
      270
      98
      5
      -274
      388
      -250
      99
      93
      100
      -213
      -102
      -447
      895
      -213
      -354
      -322
      -511
      -281
      -139
      -55
      -377
      75
      -83
      -413
      -142
      142
      -20
      -248
      -260
      -15
      421
      26,638
      -196
      -45
      139
      -270
      -471
      -84
      2,057
      -113
      -902
      -47
      -77
      -2
      635
      513
      515
      146
      96
      84
      -46
      719
      87
       
      533
      -317
      -28
      -64
      106
      1,178
      -13
      -104
      -122
      -132
      -582
      -71
      -121
      -297
      -73
      -74
      -36
      222
      -12
      547
      866
      7
      -271
      394
      305
      -166
      -228
      51
      -404
      751
      187
      -371
      -1
      528
      -63
      459
      -240
      -547
      -93
      -4
      336
      -401
      -34
      -52
      49
      -807
      -176
      -125
      -101
      -1,020
      -1,095
      341
      35
      -38
      19
      -16
      -47
      -21,858
      590,806
      17
      18
      -370
      -892
      36
      43
      -218
      -274
       
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 1,373,268
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))
2014 604,085 10,521,804 0.057413
2013 622,452 9,803,470 0.063493
2012 611,671 8,838,720 0.069204
2011 635,826 9,132,931 0.069619
2010 670,618 9,171,011 0.073124
2
Total of line 1, column (d) .....................
20.332853
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
0.066571
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
10,293,513
5
Multiply line 4 by line 3......................
5
685,249
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
15,185
7
Add lines 5 and 6........................
7
700,434
8
Enter qualifying distributions from Part XII, line 4.............
8
711,236
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 15,185
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 15,185
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 15,185
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 29,099
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 29,099
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 13,914
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet7,594 RefundedBullet 11 6,320
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$   (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)
    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 2015 or the taxable year beginning in 2015 (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
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 ASSOCIATION Telephone no.bullet (651) 466-8708

    Located atbullet101 EAST 5TH ST EP-MN-S14MINNEAPOLISMN ZIP+4bullet55101
    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 2015, 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  
    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
     
    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 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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 2015 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 2015.)..................
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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 (2015)
    Form 990-PF (2015)
    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
    US BANK NATIONAL ASSOCATION TRUSTEE
    1     		73,553    
    101 EAST 5TH STREET
    ST PAUL,MN55101
    MARY MCGAHEY DWAN TRUSTEE
    0     		0    
    416 6TH STREET SE
    WASHINGTON,DC22003
    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  
    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.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    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
    9,968,072
    b
    Average of monthly cash balances.......................
    1b
    482,195
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    10,450,267
    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
    10,450,267
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    156,754
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    10,293,513
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    514,676
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    514,676
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    15,185
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    15,185
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    499,491
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    499,491
    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
    499,491
    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
    711,236
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    711,236
    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
    15,185
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    696,051
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 499,491
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:2013, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 221,103
    b From 2011...... 200,285
    c From 2012...... 188,244
    d From 2013...... 167,484
    e From 2014...... 121,248
    fTotal of lines 3a through e........ 898,364
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 711,236
    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..... 499,491
    e Remaining amount distributed out of corpus 211,745
    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 1,110,109
    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) ...     		221,103
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		889,006
    10 Analysis of line 9:
    a Excess from 2011.... 200,285
    b Excess from 2012.... 188,244
    c Excess from 2013.... 167,484
    d Excess from 2014.... 121,248
    e Excess from 2015.... 211,745
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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:
    DARCY FREDERICKSON
    101 EAST FIFTH STREET
    ST PAUL,MN55101
    (651) 466-8708
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FOR GRANT MAY BE SUBMITTED IN THE FORM OF A LETTER OUTLING THE NATURE OF THE REQUEST AND INCLUDE A COPY OF YOUR INTERNAL REVENUE EXEMPTION LETTER
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THIS TRUST IS CREATED AND ORGANIZED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND/OR EDUCATIONAL PURPOSES WITH EMPHASIS ON ORGANIZATIONS IN THE WASHINGTON D.C. AREA
    Form 990-PF (2015)
    Form 990-PF (2015)
    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
    AMERICAN CHESTNUT LAND
    TRUST INC
    P O BOX 2363
    PRINCE FREDERICK,MD20678     		NONE PC GENERAL OPERATING 60,000
    BETHLEHEM HOUSE
    1401 LAWERENCE STREET NE
    WASHINGTON,DC20017     		NONE PC GENERAL OPERATING 40,000
    CATHOLIC CAMPAIGN FOR
    HUMAN DEVELOPMENT
    3211 4TH STREET NE
    WASHINGTON,DC20017     		NONE PC GENERAL OPERATING 40,000
    CATHOLIC COMMUNITY SERVICES
    MSGR JOHN ENZLER PRESIDENT
    924 G STREET NW
    WASHINGTON,DC20018     		NONE PC GENERAL OPERATING 10,000
    GONZAGA COLLEGE HIGH
    SCHOOL
    19 EYE STREET NW
    WASHINGTON,DC20001     		NONE PC GENERAL OPERATING 40,000
    PERRY SCHOOL COMMUNITY
    SERVICES CENTER INC
    128 M STREET N W
    WASHINGTON,DC20001     		NONE PC GENERAL OPERATING 60,000
    ST JOHN VIANNEY CHURCH
    105 VIANNEY LANE
    PRINCE FREDERICK,MD20678     		NONE PC GENERAL OPERATING 50,000
    ST JOSEPH'S ON CAPITOL
    HILL
    313 SECOND STREET NE
    WASHINGTON,DC20002     		NONE PC GENERAL OPERATING 40,000
    CAMBRIDGE IN AMERICA
    PO BOX 9123 JAF BLG
    NEW YORK,NY10087     		NONE PC GENERAL OPERATING 25,000
    NATIONAL CATHOLIC REPORTER
    115 EAST ARMOUR BLVD
    KANSAS CITY,MO64111     		NONE PC GENERAL OPERATING 125,000
    MADONNA HOUSE
    220 C STREET NE
    WASHINGTON,DC20002     		NONE PC GENERAL OPERATING 35,000
    SISTERS OF THE HOLY CROSS
    415 SILVER SPRING AVE APT 304
    SILVER SPRING,MD20910     		NONE PC GENERAL OPERATING 40,000
    THE NATURE CONSERVANCY
    5410 GROSVENOR LANE STE 100
    BETHESDA,MD20814     		NONE PC GENERAL OPERATING 25,000
    PHILADELPHIA CONSULTATION CENTER
    313 SOUTH 16TH STREET
    PHILEDELPHIA,PA19102     		NONE PC GENERAL OPERATING 25,000
    FRIENDS OF THE LAY CENTRE
    C/O EDWARD H ROBINSON PRES
    1321 GENERAL HIGHWAY STE 202
    CROWNSVILLE,MD21032     		NONE PC GENERAL OPERATING 60,000
    L'ARCHE
    MARY RUPPORT PHILANTHROPY
    P O BOX 21471
    WASHINGTON,DC20009     		NONE PC GENERAL OPERATING 10,000
    DISTRICT ALLIANCE FOR SAFE HOUSING
    PEG HACSKAYLO EXEC DIRECTOR
    P O BOX 73186
    WASHINGTON,DC20056     		NONE PC GENERAL OPERATING 10,000
    Total .................................bullet 3a 695,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 ...........     		         
    4 Dividends and interest from securities....     14 207,937  
    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 1,373,268  
    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)..   1,581,205  
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,581,205
    (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 (2015)
    Form 990-PF (2015)
    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 organizations?
    Yes
    No
    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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Name of Bond End of Year Book Value End of Year Fair Market Value
    NUVEEN STRATEGIC INCOME FD 325,000 324,535
    WESTPAC BANKING CORP    
    CREDIT SUISSE COMM RET ST CO 140,000 70,451
    NUVEEN FUNDS CORE BD FD I 128,193 124,091
    WELLS FARGO CO MED TM NT 201,678 201,984
    JOHN DEERE CAPITAL CORP 199,370 200,866
    JPMORGAN CHASE CO 211,296 212,168
    LOWES COMPANIES INC 207,664 209,976
    OPPENHEIMER SR FLOATING RATE    

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Name of Stock End of Year Book Value End of Year Fair Market Value
    VANGUARD INTL GROWTH PORT #81 775,000 798,052
    3M 951 1,935,724
    PRICE T ROWE GROWTH STK FD #40 250,000 416,744
    PRICE T ROWE MID CAP GRTH 64 685,000 719,481
    AMERICAN CENT EQUITY INC 250,000 273,352
    IPATH DOW JONES UBS COMMODITY 94,634 41,867
    NUVEEN SANTA BARBARA DIV GR FD 150,000 198,065
    NUVEEN TRADEWINDS INTL VAL    
    NUVEEN INTERNATIONAL GROWTH I 380,000 305,885
    NUVEEN HIGH INCOME BOND FD CI 50,000 37,788
    FORWARD INTL REAL ESTATE    
    SPDR DOW JONES INTL RELEST    
    VANGUARD GLOBAL EX US REAL EST 137,586 120,903
    ACADIA RLTY TR 13,165 15,050
    ALEXANDRIA REAL ESTATE EQUITY    
    ASHFORD HOSPITALITY TR INC    
    AVALONBAY CMNTYS INC 23,896 28,724
    BOSTON PPTYS INC 27,730 27,931
    BRANDYWINE REALTY TRUST    
    CHATHAM LODGING TRUST 6,184 4,321
    CHESAPEAKE LODGING TRUST 11,477 9,209
    COUSINS PPTYS INC    
    CUBESMART    
    DIAMONDROCK HOSPITALITY CO 7,345 5,288
    EDUCATION REALTY TRUST INC    
    EQUITY RESIDENTIAL 34,101 37,613
    ESSEX PPTY TR INC 24,229 28,250
    EXTRA SPACE STORAGE INC 26,369 33,873
    FELCOR LODGING TR INC 14,015 9,709
    FIRST INDL RLTY TR INC    
    GENERAL GROWTH PROPERTIES    
    HCP INC    
    HEALTH CARE REIT INC    
    HIGHWOODS PROPERTIES INC 14,355 14,562
    HOST HOTELS RESORTS INC 13,925 10,784
    KILROY RLTY CORP 22,314 21,389
    KITE REALTY GROUP TRUST    
    LASALLE HOTEL PROPERTIES    
    NATIONAL HEALTH INVS INC 4,711 4,444
    PARAMOUNT GROUP INC 19,910 20,001
    PHYSICIANS REALTY TRUST 7,833 8,312
    RAMCO GERSHENSON PROPERTIES    
    REGENCY CENTERS CORPORATION 24,386 27,248
    SABRA HEALTH CARE REIT INC    
    SIMON PROPERTY GROUP INC 64,028 70,776
    STAG INDUSTRIAL INC    
    STARWOOD HOTELS & RESORTS    
    TANGER FACTORY OUTLET CENTER 12,248 11,739
    VENTAS INC 10,693 9,875
    VORNADO REALTY TRUST    
    WEYERHAEUSER CO    
    ABERDEEN FDS EMRGN    
    NUVEEN REAL ESTATE SECS I    
    NUVEEN SMALL CAP SELECT FD CL    
    SCOUT INTERNATIONAL FUND    

    TY 2015 InvestmentsOtherSchedule2
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CAMBIAR INTL EQUITY FUND INS AT COST 300,000 298,665
    CAUSEWAY EMERGING MARKETS INST AT COST 311,052 255,345
    CONGRESS MID CAP GROWTH INS AT COST 375,000 359,385
    DIGITAL REALTY TRUST INC AT COST 16,073 16,485
    DUKE REALTY CORPORATION AT COST 14,862 16,206
    EQUINIX INC AT COST 15,396 15,725
    GLENMEDE SC EQUITY PORT ADV AT COST 550,000 531,805
    HILTON WORLDWIDE HOLDINGS IN AT COST 11,072 9,159
    INTEL CORP 3.700% 7 AT COST 201,610 206,872
    ISHARES CORE S P SMALL CAP ETF AT COST 198,997 185,315
    KIMCO REALTY CORP AT COST 17,977 19,342
    MACERICH CO AT COST 19,821 20,253
    NEUBERGER BERMAN EMERG MKTS EQ AT COST 261,252 229,309
    NUVEEN PREFERRED SECURITIES FU AT COST 50,000 48,677
    POWERSHARES QQQ ETF AT COST 249,381 254,146
    PROLOGIS INC AT COST 27,443 29,615
    PUBLIC STORAGE INC AT COST 35,505 38,641
    TAUBMAN CENTERS INC AT COST 20,802 20,714
    UDR INC AT COST 19,912 22,993
    VANGUARD TOTAL STOCK MKT IDX A AT COST 600,000 583,123
    WELLTOWER INC AT COST 27,833 27,008

    TY 2015 OtherAssetsSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME 4,416 4,997 4,997


    TY 2015 OtherDecreasesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Description Amount
    COST BASIS ADJUSTMENT 430


    TY 2015 OtherExpensesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MN STATE AG FEE 25 0   25


    TY 2015 OtherIncreasesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Description Amount
    PY PENDING SALES ADJUSTMENT 2,802


    TY 2015 OtherLiabilitiesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Description Beginning of Year - Book Value End of Year - Book Value
    RETURN OF CAPITAL 771  


    TY 2015 TaxesSchedule
    Name:
    1988 IRREV COCHRANE MEMORIAL TR 25293320
    EIN:
    41-6309348
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 1,787 1,787   0
    FEDERAL TAX PAYMENT - PRIOR YE 2,251 0   0
    FEDERAL ESTIMATES - INCOME 20,587 0   0
    FEDERAL ESTIMATES - PRINCIPAL 8,512 0   0
    FOREIGN TAXES ON NONQUALIFIED 557 557   0