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
IDA KORAN TRUST 25641470
 
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

41-6124022
B Telephone number (see instructions)

(612) 303-3259
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$41,618,902J 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 340 340  
4 Dividends and interest from securities... 856,220 846,851  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 971,383
b Gross sales price for all assets on line 6a 19,062,268
7 Capital gain net income (from Part IV, line 2)... 971,383
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)....... Click to see attachment 9,700 197,694  
12 Total. Add lines 1 through 11........ 1,837,643 2,016,268  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 234,299 175,256   59,043
14 Other employee salaries and wages...... 43,510 0 0 43,510
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 35,247 0 0 35,247
b Accounting fees (attach schedule)....... Click to see attachment 2,200 0 0 2,200
c Other professional fees (attach schedule).... Click to see attachment 172,816     172,816
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 51,663 14,080   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 662 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 13,683 9,151   13,121
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 554,080 198,487 0 325,937
25 Contributions, gifts, grants paid....... 2,068,519 2,068,519
26 Total expenses and disbursements. Add lines 24 and 25 2,622,599 198,487 0 2,394,456
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -784,956
b Net investment income (if negative, enter -0-) 1,817,781
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............. 14,014 12,938 12,938
2 Savings and temporary cash investments......... 1,045,479 1,533,369 1,533,369
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) 386,114 Click to see attachment337,429 345,416
b Investments—corporate stock (attach schedule)....... 23,479,266 Click to see attachment22,111,227 27,559,040
c Investments—corporate bonds (attach schedule)....... 1,383,696 Click to see attachment1,515,637 1,532,280
11 Investments—land, buildings, and equipment: basis bullet0
Less: accumulated depreciation (attach schedule) bullet0 0 Click to see attachment0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 8,319,069 Click to see attachment8,340,723 10,593,800
14 Land, buildings, and equipment: basis bullet0
Less: accumulated depreciation (attach schedule) bullet0 0 0  
15 Other assets (describe bullet) Click to see attachment16,014 Click to see attachment42,059 Click to see attachment42,059
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 34,643,652 33,893,382 41,618,902
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
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........ 2,626,365 2,589,207
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 32,017,287 31,304,175
30 Total net assets or fund balances (see instructions)..... 34,643,652 33,893,382
31 Total liabilities and net assets/fund balances (see instructions). 34,643,652 33,893,382
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
34,643,652
2
Enter amount from Part I, line 27a .....................
2
-784,956
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
79,778
4
Add lines 1, 2, and 3 ..........................
4
33,938,474
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
45,092
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
33,893,382
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 48923.68 DRIEHAUS SELECT CREDIT FUND   2014-06-04 2015-01-20
b 165535.899 GOLDMAN SACHS COMM STRAT INS   2013-10-22 2015-01-20
c 65651.604 HIGHLAND LONG SHORT EQUITY Z   2012-02-15 2015-01-20
d 31928.48 LOOMIS SAYLES GLBL BOND INST   2014-06-05 2015-01-20
e 56351.365 NUVEEN HIGH INCOME BOND FD CL I     2015-01-20
22677.493 ROWE T PRICE SMALL-CAP VALUE FD INC     2015-01-20
18000. SPDR DOW JONES INTERNATIONAL ETF     2015-01-20
2000. ISHARES IBOXX HIGH YIELD ETF   2010-09-23 2015-01-21
3000. ISHARES IBOXX HIGH YIELD ETF   2014-08-19 2015-01-21
491.18 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-02-15
565.04 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-02-15
549.44 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-02-15
18. G N M A #564917 7.000% 10/15/31   2001-10-11 2015-02-15
1000. ISHARES RUSSELL 2000 INDEX ETF   2013-08-02 2015-02-18
15000. ISHARES IBOXX HIGH YIELD ETF     2015-02-18
8043.758 LOOMIS SAYLES GLBL BOND INST   2014-06-05 2015-02-18
21.84 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-02-25
217.77 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-02-25
142.93 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-02-25
620.96 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-02-25
30. F N M A #323681 7.000% 4/01/29   2000-01-11 2015-02-25
6.15 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-02-25
8.26 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-02-25
287.69 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-02-25
62.57 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-02-25
130000. DUPONT EI NEMOUR DD 4.750% 3/15/15   2009-02-18 2015-03-15
540.81 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-03-15
467.48 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-03-15
546.05 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-03-15
812.55 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-03-15
2000. ECOLAB INC COM     2015-03-16
2183.406 LAUDUS INTERNATIONAL MARKETMASTERS     2015-03-16
1182.779 VANGUARD 500 IND   2012-08-06 2015-03-16
87.64 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-03-25
337.64 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-03-25
156.95 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-03-25
678.41 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-03-25
30.45 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-03-25
10.19 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-03-25
1051.93 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-03-25
799.48 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-03-25
56.67 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-03-25
680.93 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-04-15
507.26 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-04-15
787.01 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-04-15
535.62 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-04-15
1500. ISHARES BARCLAYS TIPS BOND ETF   2014-07-16 2015-04-24
20419.276 OPPENHEIMER DEVELOPING MARKETS I     2015-04-24
16129.032 ROBECO BOSTON PARTNERS L S RSRCH   2015-01-20 2015-04-24
1281.92 VANGUARD 500 IND   2012-08-06 2015-04-24
25.56 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-04-25
417.33 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-04-25
561.4 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-04-25
554.76 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-04-25
77.17 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-04-25
6.24 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-04-25
6.21 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-04-25
373.97 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-04-25
66.68 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-04-25
417.22 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-05-15
484.32 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-05-15
511.17 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-05-15
11.56 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-05-15
114.26 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-05-25
551.71 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-05-25
280.13 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-05-25
652.79 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-05-25
50.22 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-05-25
6.28 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-05-25
6.24 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-05-25
982.1 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-05-25
60.76 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-05-25
1000. ECOLAB INC COM   1967-03-12 2015-06-05
21329.028 LOOMIS SAYLES GLBL BOND INST   2014-06-05 2015-06-05
60000. PACCAR FINANCIAL MTN 1.050% 6/05/15     2015-06-05
15862.944 ROBECO BOSTON PARTNERS L S RSRCH   2015-01-20 2015-06-05
2299.673 VANGUARD 500 IND   2012-08-06 2015-06-05
799.67 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-06-15
516.84 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-06-15
527.05 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-06-15
11.98 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-06-15
1. SECURITY LITIGATION   1911-11-11 2015-06-17
21.06 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-06-25
393.48 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-06-25
276.5 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-06-25
589.99 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-06-25
29.98 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-06-25
6.31 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-06-25
6.28 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-06-25
311.89 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-06-25
61.06 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-06-25
50000. WELLS FARGO CO MTN 1.500% 7/01/15   2013-01-07 2015-07-01
486.45 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-07-15
534.5 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-07-15
584.09 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-07-15
551.08 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-07-15
50000. TOYOTA MOTOR M T N 0.875% 7/17/15   2012-12-28 2015-07-17
8554.32 CAUSEWAY EMERGING MARKETS INSTL   2015-04-24 2015-07-20
7175.66 OPPENHEIMER DEVELOPING MARKETS I   2014-10-20 2015-07-20
20515.002 VANGUARD SMALL CAP INDEX FUND     2015-07-22
16.26 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-07-25
335.28 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-07-25
78.21 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-07-25
540.57 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-07-25
30.3 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-07-25
6.35 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-07-25
6.31 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-07-25
1106.52 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-07-25
60.14 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-07-25
32000. ATT INC 2.500% 8/15/15     2015-08-15
399.3 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-08-15
537.36 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-08-15
415.7 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-08-15
10.31 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-08-15
52000. ISHARES MSCI EMERGING MARKETS ETF     2015-08-18
10200. I SHARES S P SMALLCAP 600 INDEX FD   2015-07-22 2015-08-18
739.495 OPPENHEIMER DEVELOPING MARKETS I   2014-10-20 2015-08-18
15601.96 OPPENHEIMER DEVELOPING MARKETS I     2015-08-18
80.06 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-08-25
339.16 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-08-25
60.94 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-08-25
480.15 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-08-25
30.74 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-08-25
6.38 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-08-25
6.35 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-08-25
753.73 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-08-25
65.48 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-08-25
21000. DB X TRACKERS MSCI EAFE HEDGED ETF     2015-09-15
347.31 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-09-15
459.58 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-09-15
572.42 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-09-15
10.59 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-09-15
62376.384 LAUDUS INTERNATIONAL MARKETMASTERS     2015-09-15
800. ECOLAB INC COM   1967-03-12 2015-09-21
63027.426 TCW EMERGING MARKETS INCOME FUND     2015-09-22
41139.241 TCW EMERGING MARKETS INCOME FUND   2015-06-05 2015-09-22
98.3 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-09-25
412.58 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-09-25
195.66 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-09-25
609.08 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-09-25
30.35 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-09-25
10.81 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-09-25
6.38 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-09-25
601.01 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-09-25
1536.31 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-09-25
71564.085 OPPENHEIMER SENIOR FLOATING RATE I     2015-10-13
394.06 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-10-15
427.68 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-10-15
539.35 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-10-15
10.84 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-10-15
89.28 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-10-25
165.6 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-10-25
159.88 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-10-25
486.98 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-10-25
30.67 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-10-25
6.48 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-10-25
6.42 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-10-25
581.07 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-10-25
1325.34 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-10-25
2000. ECOLAB INC COM   1967-03-12 2015-10-27
50000. NATL RURAL UTIL 1.900% 11/01/15   2012-12-28 2015-11-01
50000. GEN ELEC CAP CRP MTN 2.250% 11/09/15   2012-12-28 2015-11-09
425.91 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-11-15
510.79 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-11-15
540.44 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-11-15
10.91 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-11-15
16.07 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-11-25
275.62 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-11-25
342.18 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-11-25
581.29 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-11-25
30.77 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-11-25
6.52 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-11-25
6.46 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-11-25
290.42 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-11-25
55.52 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-11-25
100000. BERKSHIRE HATH 2.450% 12/15/15   2013-05-28 2015-12-15
419.64 F H L M C GD E99030 4.500% 9/01/18   2003-12-18 2015-12-15
464.89 F H L M C GD E01489 4.500% 11/01/18   2003-11-20 2015-12-15
499.16 F H L M C GD E01537 4.500% 12/01/18   2004-01-08 2015-12-15
11.49 G N M A #564917 7.000% 10/15/31   2001-10-11 2015-12-15
83.82 F N M A #252717 7.500% 9/01/29   2000-01-11 2015-12-25
469.4 F N M A #254983 5.500% 12/01/33   2003-11-19 2015-12-25
159.88 F N M A #254984 6.000% 12/01/33   2003-11-19 2015-12-25
368.72 F N M A #255076 4.500% 1/01/19   2004-01-08 2015-12-25
40.45 F N M A #323681 7.000% 4/01/29   2000-01-11 2015-12-25
6.55 F N M A #772256 6.000% 11/01/33   2004-02-26 2015-12-25
6.49 F N M A #772130 6.000% 11/01/33   2004-02-26 2015-12-25
638.18 F N M A #772641 5.000% 3/01/34   2005-03-04 2015-12-25
55.22 F N M A #802488 5.500% 11/01/34   2005-03-02 2015-12-25
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 445,695   500,000 -54,305
b 594,274   940,244 -345,970
c 792,415   749,741 42,674
d 499,042   530,332 -31,290
e 467,716   500,000 -32,284
1,020,714   608,189 412,525
776,145   640,061 136,084
178,887   177,083 1,804
268,331   283,106 -14,775
491   495 -4
565   567 -2
549   551 -2
18   19 -1
121,648   104,990 16,658
1,367,649   1,310,347 57,302
125,161   133,607 -8,446
22   21 1
218   222 -4
143   148 -5
621   624 -3
30   29 1
6   6  
8   9 -1
288   285 3
63   63  
130,000   128,683 1,317
541   545 -4
467   469 -2
546   548 -2
813   841 -28
230,090   103,412 126,678
50,655   40,340 10,315
228,052   152,231 75,821
88   86 2
338   344 -6
157   163 -6
678   681 -3
30   29 1
10   11 -1
1,052   1,097 -45
799   792 7
57   57  
681   686 -5
507   509 -2
787   790 -3
536   554 -18
172,238   172,238  
752,655   801,757 -49,102
250,000   241,452 8,548
250,564   164,991 85,573
26   25 1
417   425 -8
561   582 -21
555   557 -2
77   74 3
6   7 -1
6   6  
374   371 3
67   67  
417   421 -4
484   486 -2
511   513 -2
12   12  
114   112 2
552   561 -9
280   291 -11
653   656 -3
50   48 2
6   7 -1
6   7 -1
982   973 9
61   61  
113,838   579 113,259
320,575   354,275 -33,700
60,000   60,601 -601
249,048   237,468 11,580
445,516   295,982 149,534
800   806 -6
517   518 -1
527   529 -2
12   12  
132     132
21   21  
393   400 -7
277   287 -10
590   593 -3
30   29 1
6   7 -1
6   7 -1
312   309 3
61   62 -1
50,000   50,901 -901
486   490 -4
535   536 -1
584   586 -2
551   570 -19
50,000   50,282 -282
99,230   111,206 -11,976
248,637   270,379 -21,742
1,195,409   1,125,000 70,409
16   16  
335   341 -6
78   81 -3
541   543 -2
30   29 1
6   7 -1
6   7 -1
1,107   1,097 10
60   61 -1
32,000   33,426 -1,426
399   403 -4
537   539 -2
416   417 -1
10   11 -1
1,804,814   2,003,004 -198,190
1,186,880   1,200,803 -13,923
23,324   27,864 -4,540
492,086   600,000 -107,914
80   79 1
339   345 -6
61   63 -2
480   482 -2
31   29 2
6   7 -1
6   7 -1
754   747 7
65   66 -1
560,931   648,571 -87,640
347   350 -3
460   461 -1
572   574 -2
11   11  
1,388,498   1,007,087 381,411
90,619   463 90,156
480,899   551,834 -70,935
313,892   324,729 -10,837
98   97 1
413   420 -7
196   203 -7
609   612 -3
30   29 1
11   11  
6   7 -1
601   596 5
1,536   1,549 -13
562,494   600,000 -37,506
394   397 -3
428   429 -1
539   541 -2
11   11  
89   88 1
166   169 -3
160   166 -6
487   489 -2
31   29 2
6   7 -1
6   7 -1
581   576 5
1,325   1,336 -11
236,362   1,157 235,205
50,000   51,700 -1,700
50,000   51,750 -1,750
426   429 -3
511   512 -1
540   542 -2
11   11  
16   16  
276   280 -4
342   355 -13
581   584 -3
31   30 1
7   7  
6   7 -1
290   288 2
56   56  
100,000   104,856 -4,856
420   423 -3
465   466 -1
499   501 -2
11   12 -1
84   82 2
469   478 -9
160   166 -6
369   370 -1
40   39 1
7   7  
6   7 -1
638   633 5
55   56 -1
      91,327
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       -54,305
b       -345,970
c       42,674
d       -31,290
e       -32,284
      412,525
      136,084
      1,804
      -14,775
      -4
      -2
      -2
      -1
      16,658
      57,302
      -8,446
      1
      -4
      -5
      -3
      1
       
      -1
      3
       
      1,317
      -4
      -2
      -2
      -28
      126,678
      10,315
      75,821
      2
      -6
      -6
      -3
      1
      -1
      -45
      7
       
      -5
      -2
      -3
      -18
       
      -49,102
      8,548
      85,573
      1
      -8
      -21
      -2
      3
      -1
       
      3
       
      -4
      -2
      -2
       
      2
      -9
      -11
      -3
      2
      -1
      -1
      9
       
      113,259
      -33,700
      -601
      11,580
      149,534
      -6
      -1
      -2
       
      132
       
      -7
      -10
      -3
      1
      -1
      -1
      3
      -1
      -901
      -4
      -1
      -2
      -19
      -282
      -11,976
      -21,742
      70,409
       
      -6
      -3
      -2
      1
      -1
      -1
      10
      -1
      -1,426
      -4
      -2
      -1
      -1
      -198,190
      -13,923
      -4,540
      -107,914
      1
      -6
      -2
      -2
      2
      -1
      -1
      7
      -1
      -87,640
      -3
      -1
      -2
       
      381,411
      90,156
      -70,935
      -10,837
      1
      -7
      -7
      -3
      1
       
      -1
      5
      -13
      -37,506
      -3
      -1
      -2
       
      1
      -3
      -6
      -2
      2
      -1
      -1
      5
      -11
      235,205
      -1,700
      -1,750
      -3
      -1
      -2
       
       
      -4
      -13
      -3
      1
       
      -1
      2
       
      -4,856
      -3
      -1
      -2
      -1
      2
      -9
      -6
      -1
      1
       
      -1
      5
      -1
       
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 2 971,383
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 2,575,843 43,197,939 0.059629
2013 2,157,254 42,334,114 0.050958
2012 2,284,868 39,492,787 0.057855
2011 2,154,161 38,511,357 0.055936
2010 2,235,748 36,656,137 0.060992
2
Total of line 1, column (d) .....................
20.28537
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
0.057074
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
39,538,608
5
Multiply line 4 by line 3......................
5
2,256,627
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
18,178
7
Add lines 5 and 6........................
7
2,274,805
8
Enter qualifying distributions from Part XII, line 4.............
8
2,927,886
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 18,178
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 18,178
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 18,178
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 34,106
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 34,106
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 15,928
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet15,928 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$   (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 NA Telephone no.bullet (612) 303-3259

    Located atbullet800 NICOLLETT MALLMINNEAPOLISMN ZIP+4bullet55402
    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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (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
    STANLEY OSBORN TRUSTEE
    1     		0    
    360 ORONO ORCHARD RD
    WAYZATA,MN553919693
    DIANA D LEWIS TRUSTEE
    1     		0    
    7313 HAGEN WAY
    NAPLES,FL34113
    US BANK TRUSTEE
    8     		234,299    
    800 NICOLLETT MALL
    MINNEAPOLIS,MN55402
    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 HARDSHIP LOANS TO EMPLOYEES OF ECOLAB - LOANS ARE ACCORDING TO APPROVED CRITERIA 120,000
    2 STUDENT LOANS TO DEPENDENTS OF ECOLAB EMPLOYEES - GRANTED ACCORDING TO APPROVED CRITERIA 413,430
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet533,430
    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
    38,786,625
    b
    Average of monthly cash balances.......................
    1b
    1,354,094
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    40,140,719
    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
    40,140,719
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    602,111
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    39,538,608
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,976,930
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,976,930
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    18,178
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,178
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,958,752
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    421,354
    5
    Add lines 3 and 4............................
    5
    2,380,106
    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
    2,380,106
    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
    2,394,456
    b
    Program-related investments—total from Part IX-B..................
    1b
    533,430
    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
    2,927,886
    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
    18,178
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,909,708
    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 2,380,106
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 2,161,756
    b Total for prior years:2013, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 0
    b From 2011...... 0
    c From 2012...... 0
    d From 2013...... 0
    e From 2014...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 2,927,886
    a Applied to 2014, but not more than line 2a 2,161,756
    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..... 766,130
    e Remaining amount distributed out of corpus 0
    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 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 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 ..........     		1,613,976
    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) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011.... 0
    b Excess from 2012.... 0
    c Excess from 2013.... 0
    d Excess from 2014.... 0
    e Excess from 2015.... 0
    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:
    IDA C KORAN STUDENT AID PROGRAM
    P O BOX 297
    ST PETER,MN56082
    (800) 537-4180
    bThe form in which applications should be submitted and information and materials they should include:
    IDS C KORAN STUDENT LOAN APPLICATION
    cAny submission deadlines:
    FEBRUARY 18 CURRENT YEAR
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    DEPENDENT CHILDREN OF EMPLOYEES WITH 2 YEARS OF CONTINUOUS SERVICE
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ADMINISTRATIVE COORDINATOR
    370 WABASHA STREET
    ST PAUL,MN55102
    (651) 293-2392
    bThe form in which applications should be submitted and information and materials they should include:
    IDA C KORAN FINANCIAL ASSISTANCE APPLICATIONS
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FULL TIME EMPLOYEES OR SURVIVING SPOUSE WITH 2 YEAR CONTINUOUS SERVICE
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ADMINISTRATIVE COORDINATOR
    370 WABASHA STREET
    ST PAUL,MN55102
    (651) 293-2392
    bThe form in which applications should be submitted and information and materials they should include:
    IDA C KORAN TRUST DISASTER RELIEF APPLICATION
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FULL TIME EMPLOYEES OR SURVIVING SPOUSE WITH 2 YEAR CONTINUOUS SERVICE
    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
    Hardship grants to Ecolab
    past/present employees
    370 WABASHA STREET
    ST PAUL,MN55102     		NONE PC HARDSHIP GRANTS 657,659
    SCHOLARSHIP AMERICA
    P O BOX 297
    ST PETER,MN56082     		NONE PC ACADEMIC SCHOLARSHIPS 1,410,860
    Total .................................bullet 3a 2,068,519
    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 ...........     		    14 340  
    4 Dividends and interest from securities....     14 856,220  
    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 ............     		    18 971,383  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aFED TAX REFUND     		    1 9,700  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   1,837,643  
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,837,643
    (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:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 2,200     2,200

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2015 DepreciationSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    CARPET & DRAPES 2012-01-23 2,150 195 M27 27 78      
    WINDOW 2012-01-23 925 85 M27 27 34      
    NEW FURNACE 2012-05-02 2,540 230 M27 27 92      
    WINDOWS 2012-06-20 4,575 415 M27 27 166      
    REMODELING 2014-05-21 11,090 252 M27 27 403      

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS    
    BANK OF NY MTN 2.300% 7 52,245 50,424
    BOEING CAPITAL CORP 2.125% 8 93,522 90,626
    CATERPILLAR MTN 3.250% 12 101,603 99,152
    CHEVRON CORP 2.427% 6 101,846 100,101
    CISCO SYSTEMS INC 3.625% 3 105,858 104,327
    GOLDMAN SACHS GP MTN 5.375% 3 99,501 109,854
    HSBC USA INC 1.625% 1 99,800 99,505
    INTEL CORP 1.950% 10 102,663 100,624
    JPMORGAN CHASE 2.600% 1 52,369 50,021
    MCDONALDS CORP MTN 3.250% 6 102,494 98,654
    ORACLE CORP 5.750% 4 125,140 136,391
    UNITED TECH CORP 6.125% 2 126,819 139,398
    UNITEDHEALTH GROUP 3.750% 7 100,526 103,088
    WELLS FARGO CO MTN 3.550% 9 101,109 100,900
    BANK MONTREAL MTN 1.450% 4 99,069 99,488
    ASTRAZENECA PLC 1.950% 9 51,073 49,727

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Name of Stock End of Year Book Value End of Year Fair Market Value
    LOOMIS SAYLES GLBL BOND INST    
    ECOLAB INC 984 3,625,846
    I SHARES MSCI EMERGING    
    T ROWE PRICE INTL GR & INC 947,744 1,086,932
    T ROWE PRICE SMALL CAP VALUE    
    LAUDUS INTL MRKTMASTERS    
    HIGHLAND LONG SHORT    
    NUVEEN REAL ESTATE 723,508 875,385
    VANGUARD 500 IDX 4,719,002 6,761,762
    ISHARES MSCI EAFE ETF 1,540,910 1,738,112
    ISHARES RUSSELL 2000    
    MIDCAP SPDR TRUST 699,025 787,524
    OPPENHEIMER DEVELOPING MKTS    
    SPDR DJ WILSHIRE INTL    
    ISHARES IBOXX HIGH YLD ETF    
    ISHARES BARCLAYS TIPS BOND ETF    
    TCW EMERGING MARKETS INCOME 1,296,691 1,121,405
    NUVEEN HIGH INC BOND    
    DRIEHAUS SELECT CREDIT FUND    
    LOOMIS SAYLES STRAT ALPHA FD Y 950,000 888,454
    OPPENHEIMER SR FLOATING RATE    
    GOLDMAN SACHS COMM STRAT INS    
    BARON EMERGING MARKETS INSTITU 600,000 609,450
    CAMBIAR INTL EQUITY FUND INS 2,500,000 2,526,705
    CAUSEWAY EMERGING MARKETS INST 688,794 564,314
    GLENMEDE SC EQUITY PORT ADV 1,150,000 1,104,463
    HIGHLAND LONG SHORT EQUITY Z 325,000 295,740
    ROBECO BOSTON PARTNERS L S RSR 446,080 437,575
    DOUBLELINE TOTAL RET BD I 250,000 245,894
    FEDERATED INST HI YLD BD FD 3,125,000 2,855,355
    PRUDENTIAL SHORT DUR HI YLD IN 500,000 487,445
    AQR MANAGED FUTURES STR I 600,000 557,299
    VANGUARD GLBL EX US REAL ESTAT 551,500 511,000
    VANGUARD REIT ETF 496,989 478,380

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    US Government Securities - End of Year Book Value:

    337,429
    US Government Securities - End of Year Fair Market Value:

    345,416
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2015 InvestmentsLandSchedule2
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    CARPET & DRAPES 2,150   1,877  
    WINDOW 925   806  
    NEW FURNACE 2,540   2,218  
    WINDOWS 4,575   3,994  
    REMODELING 11,090   10,435  

    TY 2015 InvestmentsOtherSchedule2
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SCHOLARSHIP AMERICA STUDENT LO AT COST 3,024,468 3,024,468
    POINTER OFFSHORE LTD AT COST 1,650,000 2,746,490
    IDR CORE EQ RE 2010 LP AT COST 828,347 1,451,177
    MARATHON CREDIT OPPORTUNITY AT COST 1,500,000 1,640,019
    PARTNERS GROUP PRIVATE EQ AT COST 1,000,000 1,393,738
    ECOLAB HARDSHIP LOANS AT COST 337,908 337,908

    TY 2015 LegalFeesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - PRINCIPAL (ALLOCA 25,166     25,166
    LEGAL FEES - INCOME (ALLOCABLE 10,081     10,081


    TY 2015 OtherAssetsSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME 16,014 42,059 42,059
    PREPAID LOAN PAYMENT   0 0


    TY 2015 OtherDecreasesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description Amount
    WRITEOFF/DOWN LOANS 45,092


    TY 2015 OtherExpensesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RAMSEY COUNTY COURT COSTS 57 0   57
    MN ST CHARITABLE FILING FEE 25 0   25
    INSURANCE EXPENSE 6,898 0   6,898
    OFFICE AND COMPUTER SERVICES 6,141 0   6,141
    PARTNERS GROUP PRI   1,319   0
    IDR CORE EQUITY RE STRATEGY   7,270   0
    OTHER INVESTMENT EXPENSES 562 562   0


    TY 2015 OtherIncomeSchedule2
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    IDR CORE EQUITY RE STRATEGY   135,277  
    PARTNERS GROUP PRI   62,417  
    FED TAX REFUND 9,700 0  


    TY 2015 OtherIncreasesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Description Amount
    ADJUSTMENT FOR LOAN VARIANCES 79,778


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SCHOLARSHIP AMERICA ADMINSTRAT 172,816     172,816


    TY 2015 TaxesSchedule
    Name:
    IDA KORAN TRUST 25641470
    EIN:
    41-6124022
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 11,772 11,772   0
    FEDERAL TAX PAYMENT - PRIOR YE 9,700 0   0
    FEDERAL ESTIMATES - INCOME 25,565 0   0
    FEDERAL ESTIMATES - PRINCIPAL 2,318 0   0
    FOREIGN TAXES ON NONQUALIFIED 2,308 2,308   0