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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
JA WEDUM FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2615 UNIVERSITY AVE SE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN554143205
A Employer identification number

41-6025661
B Telephone number (see instructions)

(612) 789-3363
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$165,508,161J 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) 10,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 875,082 875,082  
4 Dividends and interest from securities...      
5a Gross rents............ 68,589 68,589  
b Net rental income or (loss) 68,589
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 9,674,566
b Gross sales price for all assets on line 6a 24,610,859
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 31,389,097   31,389,097
12 Total. Add lines 1 through 11........ 42,017,334 943,671 31,389,097
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 369,398      
14 Other employee salaries and wages...... 151,445      
15 Pension plans, employee benefits....... 51,221      
16a Legal fees (attach schedule)......... Click to see attachment 7,599      
b Accounting fees (attach schedule)....... Click to see attachment 13,795      
c Other professional fees (attach schedule).... Click to see attachment 263,124      
17 Interest............... 3,320,951   3,320,951  
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,200,932   3,200,932
20 Occupancy.............. 17,501,411   17,464,045  
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 2,629,046   2,528,263  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 27,508,922 0 26,514,191 0
25 Contributions, gifts, grants paid....... 1,588,271 1,588,271
26 Total expenses and disbursements. Add lines 24 and 25 29,097,193 0 26,514,191 1,588,271
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 12,920,141
b Net investment income (if negative, enter -0-) 943,671
c Adjusted net income (if negative, enter -0-)... 4,874,906
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 14,763,437 6,568,543 6,568,543
3 Accounts receivable bullet2,438,948
Less: allowance for doubtful accounts bullet   1,925,151 2,438,948 2,438,948
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 211,366 227,620 227,620
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 18,003,331 Click to see attachment29,205,184 33,206,518
c Investments—corporate bonds (attach schedule)....... 1,295,601 Click to see attachment426,260 445,151
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 136,917 Click to see attachment136,917  
14 Land, buildings, and equipment: basis bullet109,879,962
Less: accumulated depreciation (attach schedule) bullet43,398,097 76,324,002 Click to see attachment66,481,865 109,879,962
15 Other assets (describe bullet) Click to see attachment15,867,949 Click to see attachment12,741,439 Click to see attachment12,741,419
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 128,527,754 118,226,776 165,508,161
Liabilities 17 Accounts payable and accrued expenses.......... 1,774,277 1,505,507
18 Grants payable................. 1,000,000 1,000,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 93,590,110 Click to see attachment71,223,121
22 Other liabilities (describe bullet) Click to see attachment2,322,032 Click to see attachment1,498,951
23 Total liabilities (add lines 17 through 22)......... 98,686,419 75,227,579
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 29,841,335 42,999,197
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 29,841,335 42,999,197
31 Total liabilities and net assets/fund balances (see instructions). 128,527,754 118,226,776
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
29,841,335
2
Enter amount from Part I, line 27a .....................
2
12,920,141
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
237,721
4
Add lines 1, 2, and 3 ..........................
4
42,999,197
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
42,999,197
Form 990-PF (2018)
Form 990-PF (2018)
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.)
1a
b
c
d
e
(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
b
c
d
e
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
b
c
d
e
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  
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))
2017 3,605,473 35,275,814 0.102208
2016 856,072 28,501,801 0.030036
2015 1,237,395 23,394,963 0.052892
2014 2,365,252 21,796,497 0.108515
2013 1,438,131 18,111,308 0.079405
2
Total of line 1, column (d) .....................
2
0.373056
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.074611
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
39,870,186
5
Multiply line 4 by line 3......................
5
2,974,754
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
9,437
7
Add lines 5 and 6........................
7
2,984,191
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,588,271
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 (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 18,873
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  
3 Add lines 1 and 2........................... 3 18,873
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 18,873
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 12,098
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 12,098
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 6,775
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
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 2018 or the taxable year beginning in 2018? See the 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 (2018)
    Form 990-PF (2018)
    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
     
     
    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 addressbulletWWW.WEDUMFOUNDATION.ORG
    14
    The books are in care ofbulletJAY PORTZ Telephone no.bullet (612) 789-3363

    Located atbullet2537 UNIVERSITY AVE SEMINNEAPOLISMN ZIP+4bullet55414
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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
     
     
    ........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 2018?.............
    1c
     
     
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    DAVID KJOS CHAIRMAN
    2.00     		16,500 0 0
    2615 UNIVERSITY AVENUE SE
    MINNEAPOLIS,MN55414
    DAYTON SOBY SECRETARY
    1.00     		1,500 0 0
    3545 DUNBAR KNOLL
    BROOKLYN PARK,MN55443
    GARY SLETTE BOARD MEMBER
    1.00     		1,500 0 0
    134 - 3RD AVENUE EAST
    TWIN FALLS,ID83301
    DANA WEDUM KENNELLY BOARD MEMBER
    1.00     		1,500 0 0
    4721 SPRING CIRCLE
    MINNETONKA,MN55345
    DAWN DOWNS BOARD MEMBER
    1.00     		1,500 0 0
    9568 HW 20/26
    CALDWELL,ID83605
    JOSEPH A RUSCHE TREASURER
    1.00     		1,500 0 0
    3050 METRO PARKWAY SUITE 200
    MINNEAPOLIS,MN55425
    JAY PORTZ PRESIDENT
    40.00     		342,398 0 0
    2206 HERITAGE DRIVE
    ST CLOUD,MN55301
    MICHELE KELM-HELGEN BOARD MEMBER
    1.00     		1,500 0 0
    100 3RD AVE S 702
    MINNEAPOLIS,MN554012703
    BRIAN MYRES BOARD MEMBER
    1.00     		1,500 0 0
    7491 86TH AVE SE
    CLEAR LAKE,MN55319
    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
    KELLIE TESCH OFFICE ADMIN
    40.00     		150,584    
    2615 UNIVERSITY AVE SE
    MINNEAPOLIS,MN55414
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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.............bullet  
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    29,674,439
    b
    Average of monthly cash balances.......................
    1b
    10,665,990
    c
    Fair market value of all other assets (see instructions)................
    1c
    136,917
    d
    Total (add lines 1a, b, and c).........................
    1d
    40,477,346
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    40,477,346
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    607,160
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    39,870,186
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,993,509
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,993,509
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    18,873
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,873
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,974,636
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,974,636
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,974,636
    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
    1,588,271
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,588,271
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,588,271
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 1,974,636
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 539,406
    b From 2014...... 1,281,417
    c From 2015...... 75,687
    d From 2016......  
    e From 2017...... 1,856,286
    fTotal of lines 3a through e........ 3,752,796
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,588,271
    a Applied to 2017, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 1,588,271
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2018. 386,365 386,365
    (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 3,366,431
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		153,041
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		3,213,390
    10 Analysis of line 9:
    a Excess from 2014.... 1,281,417
    b Excess from 2015.... 75,687
    c Excess from 2016....  
    d Excess from 2017.... 1,856,286
    e Excess from 2018....  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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 foundation 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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAY PORTZ
    2615 UNIVERSITY AVENUE
    MINNEAPOLIS,MN55414
    (612) 789-3363
    bThe form in which applications should be submitted and information and materials they should include:
    RESUME OF ACADEMIC QUALIFICATIONS OR STANDARD GRANT APPL
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    PREFERENCE IS GIVEN TO DONEE LOCATED IN ALEXANDRIA, MN AREA
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    AIM HIGHER FOUNDATION
    2610 UNIVERSITY AVE W
    ST PAUL,MN55114     		    EDUCATION 2,500
    ADVOCATES FOR DEVELOPMENTAL DISABIL
    1225 LINCOLN AVE
    OWATONNA,MN55060     		    SOCIAL SERVICES 5,000
    ALEXANDRIA AREA COMMUNITY FOUNDATIO
    101 7TH AVE S 100
    ST CLOUD,MN56301     		    SOCIAL SERVICES 5,600
    ALEXANDRIA AREA YMCA
    110 KARL DRIVE
    ALEXANDRIA,MN56308     		    HEALTH 15,000
    ALEXANDRIA TECHNICAL COLLEGE
    1601 JEFFERSON STREET
    ALEXANDRIA,MN56308     		    EDUCATION 52,400
    ALEXANDRIA TECHNICAL COLLEGE FOUNDA
    1601 JEFFERSON STREET
    ALEXANDRIA,MN56308     		    EDUCATION 40,403
    ALLINA HOSPICE FOUNDATION
    2925 CHICAGO AVENUE
    MINNEAPOLIS,MN55407     		    HEALTH 24,000
    ALZHEIMER'S ASSOCIATION
    4357 13TH AVE S
    FARGO,ND58103     		    HEALTH - ND CHAPTER 2,500
    AQUINAS HIGH SCHOOL
    315 11TH ST S
    LACROSSE,WI54601     		    EDUCATION 2,500
    AUGSBURG UNIVERSITY
    2211 RIVERSIDE AVE
    MINNEAPOLIS,MN55454     		    EDUCATION 1,000
    BELGRADE-BROOTEN-ELROSA HIGH SCHOOL
    710 WASHBURN AVE
    BELGRADE,MN56312     		    EDUCATION 50,000
    BEMIDJI STATE UNIVERSITY
    1500 BIRCHMONT DRIVE NE
    BEMIDJI,MN566012699     		    EDUCATION 2,500
    BENEVOLENCE DISCOUNTS
    PROPERTIES
    MINNEAPOLIS,MN55401     		    DISCOUNTS 62,768
    BETHEL UNIVERSITY
    3900 BETHEL DRIVE
    ST PAUL,MN55122     		    EDUCATION 3,000
    BLOOMINGTON TRAVELING BASEBALL ASSC
    PO BOX 385013
    BLOOMINGTON,MN55438     		    HEALTH 1,000
    CAMPHILL VILLAGE MINNESOTA
    15136 CELTIC DRIVE
    SAUK CENTRE,MN55378     		    SOCIAL SERVICES 1,700
    CHASKA HIGH SCHOOL
    545 PIONEER TRAIL
    CHASKA,MN55318     		    EDUCATION 30,000
    COMMUNITY GIVING
    101 S 7TH ST STE 100
    ST CLOUD,MN56301     		    SOCIAL SERVICES 30,000
    CONCORDIA COLLEGE
    901 - 8TH STREET S
    MOORHEAD,MN56562     		    EDUCATION 3,000
    COWFOLKS CARE
    2700 WOODLANDS VILLAGE BL
    SUITE 300-256
    FLAGSTAFF,AZ86001     		    SOCIAL SERVICES 4,000
    CROSSLAKE AREA SENIOR SERVICES
    11171 SWANBURG DR
    PINE RIVER,MN56474     		    HEALTH 2,500
    DISTRICT 742 LEAF
    PO BOX 1132
    ST CLOUD,MN56301     		    EDUCATION 2,500
    DODOMA TANZANIA HEALTH DEVELOPMENT
    8085 WAYZATA BLVD
    SUITE 203
    GOLDEN VALLEY,MN55426     		    HEALTH 4,000
    DUNWOODY COLLEGE OF TECHNOLOGY
    818 DUNWOODY BLVD
    MINNEAPOLIS,MN55403     		    EDUCATION 115,000
    EASTERN CARVER COUNTY SCHOOLS
    11 PEAVEY ROAD
    CHASKA,MN55318     		    EDUCATION 10,000
    FERGUS AREA COLLEGE FOUNDATION INC
    1414 COLLEGE WAY
    FERGUS FALLS,MN565371000     		    EDUCATION 65,000
    FERGUS FALLS 544 EDUCATION FOUNDATI
    518 FRIBERG AVE
    FERGUS FALLS,MN56537     		    EDUCATION 1,000
    FIFTY LAKES PROPERTY OWNERS ASSOCIA
    1101 WEST RIVER PARKWAY
    SUITE 250
    MINNEAPOLIS,MN55415     		    CONSERVATION 1,000
    FRUITLAND IDAHO DOLLARS FOR SCHOLAR
    2845 NW 1ST AVE
    NEW PLYMOUTH,ID836555031     		    EDUCATION 5,000
    GIVE KIDS THE WORLD INC
    210 S BASS ROAD
    KISSIMMEE,FL34746     		    SOCIAL SERVICES 1,000
    GREAT NICOLLET AREA COMMUNITY FOUND
    PO BOX 416
    NICOLLET,MN56074     		    SOCIAL SERVICES 5,000
    GREATER CROSSLAKE AREA COMM FOUND
    35333 COUNTY ROAD 7
    CROSSLAKE,MN56442     		    SOCIAL SERVICES 10,000
    GREATER ST CLOUD PUBLIC SAFETY FOUN
    101 11TH AVE N
    ST CLOUD,MN56303     		    SOCIAL SERVICES 12,000
    GUSTAVUS ADOLPHUS COLLEGE
    800 WEST COLLEGE AVE
    ST PETER,MN56082     		    EDUCATION 2,500
    HABITAT FOR HUMANITY OF DOUGLAS CTY
    1211 N NOKOMIS NE
    ALEXANDRIA,MN56308     		    SOCIAL SERVICES 1,000
    HENNEPIN TECHNICAL COLLEGE
    9000 BROOKLYN BLVD
    BROOKLYN PARK,MN55445     		    EDUCATION 2,000
    HISTORY THEATER
    30 10TH ST E
    ST PAUL,MN55101     		    CULTURAL 5,000
    HOOPS AND HOMEWORK INC
    12 INTERFAITH TERRACE
    FRAMINGHAM,MA01702     		    EDUCATION 2,500
    IDAHO FFA FOUNDATION INC
    3401 WEST PINE AVENUE
    MERIDIAN,ID83642     		    EDUCATION 6,000
    INITIATIVE FOUNDATION
    405 1ST ST SE
    LITTLE FALLS,MN56345     		    SOCIAL SERVICES 20,000
    IOWA STATE UNIVERSITY
    210 BEARDSEER HALL
    AMES,IA500112028     		    EDUCATION 1,000
    IRINGA HOPE
    PO BOX 21055
    EAGAN,MN55121     		    SOCIAL SERVICES 4,000
    JEREMIAH PROGRAM
    1510 LAUREL AVE
    MINNEAPOLIS,MN55403     		    SOCIAL SERVICES 5,000
    JERICHO ROAD MINISTRIES
    1628 E 33RD ST
    MINNEAPOLIS,MN55407     		    SOCIAL SERVICES 2,000
    LAKE SUPERIOR COLLEGE
    2101 TRINITY ROAD
    DULUTH,MN55811     		    EDUCATION 3,000
    LB HOMES FOUNDATION
    805 E CHANNING AVE
    FERGUS FALLS,MN56437     		    HEALTH 5,000
    LITTLE FALLS YOUTH BASEBALL ASSOCIA
    1212 PARKVIEW DR
    LITTLE FALLS,MN56345     		    HEALTH 2,500
    LOVE INC OF DOUGLAS COUNTY LAKES A
    803 N NOKOMIS ST STE 300
    ALEXANDRIA,MN56308     		    SOCIAL SERVICES 1,000
    LUTHERAN SOCIAL SERVICE OF MN
    2485 COMO AVE
    ST PAUL,MN55108     		    SOCIAL SERVICES 2,500
    MICHIGAN TECHNOLOGICAL UNIVERSITY
    1400 TOWNSEND DR
    HOUGHTON,MI49931     		    EDUCATION 2,500
    MINNEPOLIS AMERICAN INDIAN CENTER
    1530 E FRANKLIN AVE
    MINNEAPOLIS,MN55404     		    CULTURAL 2,000
    MINNEAPOLIS COMMUNITY & TECH COLLEG
    1501 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		    EDUCATION 10,000
    MINNESOTA STROKE ASSOCIATION
    2277 HIGHWAY 36 W
    STE 200
    ROSEVILLE,MN55113     		    HEALTH 2,500
    MINNESOTA ZOO FOUNDATION
    13000 ZOO BLVD
    APPLE VALLEY,MN55124     		    EDUCATION 2,500
    MN LANDSCAPE ARBORETUM
    3675 ARBORETUM DRIVE
    CHASKA,MN55318     		    SOCIAL SERVICES 5,000
    MN STATE COMM & TECH COLLEGE
    405 COLFAX AVENUE SW
    WADENA,MN56482     		    EDUCATION 1,000
    MN STATE UNIVERSITY MANKATO
    309 WIGLES ADMIN CENTER
    MANKATO,MN560016068     		    EDUCATION 1,000
    MN STATE UNIVERSITY MOORHEAD
    1104 SOUTH 7TH AVE
    MOORHEAD,MN56563     		    EDUCATION 3,000
    NELLIE JOHNSON SCHOOL
    807 27TH AVE N
    MINNEAPOLIS,MN55411     		    EDUCATION 4,000
    NORTH DAKOTA STATE UNIVERSITY
    1340 ADMINISTRATION AVE
    FARGO,ND58102     		    EDUCATION 2,000
    NORTHLAND COMMUNITY AND TECHNICAL C
    2022 CENTRAL AVE NE
    EAST GRAND FORKS,MN56721     		    EDUCATION 10,000
    NORTHSTAR CHRISTIAN ACADEMY
    3888 PIONEER RD SE
    ALEXANDRIA,MN56308     		    EDUCATION 10,000
    PLYMOUTH CHRISTIAN YOUTH CENTER
    2210 OLIVER AVE N
    MINNEAPOLIS,MN55411     		    SOCIAL SERVICES 10,000
    RIDE FOR JOY THERAPUETIC RIDING PRO
    PO BOX 140295
    BOISE,ID83714     		    HEALTH 10,000
    RIDGEWATER - WILLMAR CAMPUS
    2101 15TH AVE NW
    WILLMAR,MN56201     		    EDUCATION 1,500
    RONALD MCDONALD HOUSE CHARITIES UPP
    818 FULTON ST SE
    MINNEPOLIS,MN55414     		    SOCIAL SERVICES 1,000
    SAMARITAN PURSE
    PO BOX 300 801 BAMBOO RD
    BOONE,NC28607     		    SOCIAL SERVICES 2,000
    SECOND HARVEST HEARTLAND
    1140 GERVAIS AVE
    ST PAUL,MN55109     		    SOCIAL SERVICES 2,500
    SHAKOPEE DOLLARS FOR SCHOLARS
    PO BOX 734
    SHAKOPEE,MN55379     		    EDUCATION 1,000
    SHAKOPEE PUBLIC SCHOOLS
    1200 TOWN SQUARE
    SHAKOPEE,MN55379     		    EDUCATION 2,000
    SNAKE RIVER COMMUNITY CLINIC
    215 10TH S
    LEWISTON,ID83501     		    HEALTH 2,500
    SOUTH HAMILTON SCHOOL DISTRICT FOUN
    315 DIVISION ST
    JEWELL,IA50130     		    EDUCATION 1,000
    SPOKANE FALLS COMMUNITY COLLEGE
    3410 W FORT GEORGE WRIGHT
    SPOKANE,WA99224     		    EDUCATION 2,000
    ST CATHERINE UNIVERSITY
    2004 RANDOLPH AVE
    ST PAUL,MN55105     		    EDUCATION 10,000
    ST CLOUD ROTARY CLUB
    404 W ST GERMAIN ST
    ST CLOUD,MN56301     		    SOCIAL SERVICES 5,000
    ST CLOUD STATE UNIVERSITY
    720 4TH AVE S
    ST CLOUD,MN56301     		    EDUCATION 150,000
    ST JOSEPH'S HIGH SCHOOL
    2401 69TH ST
    KENOSHA,WI53143     		    EDUCATION 2,500
    ST OLAF COLLEGE
    1500 ST OLAF AVE
    NORTHFIELD,MN55057     		    EDUCATION 4,500
    SUMMIT ACADEMY OIC
    935 OLSON MEMORIAL HWY
    MINNEAPOLIS,MN55405     		    EDUCATION 50,000
    TEREBINTH REFUGE
    110 2ND ST S
    STE 231
    WAITE PARK,MN56387     		    SOCIAL SERVICES 5,300
    THEATRE L'HOMME DIEU
    PO BOX 1086
    ALEXANDRIA,MN56308     		    CULTURAL 30,000
    THE WRITTEN GIFT
    PO BOX 605
    ALEXANDRIA,MN56308     		    HEALTH 10,000
    TWIN FALLS OPTIMIST FOUNDATION
    PO BOX 755
    TWIN FALLS,ID83303     		    SOCIAL SERVICES 5,000
    TWIN FALLS SENIOR CITIZEN'S FEDERAT
    530 SHOSHONE ST W
    PO BOX 23
    TWIN FALLS,ID83301     		    SOCIAL SERVICES 12,600
    UNIVERSITY OF IDAHO FOUNDATION
    PO BOX 442321
    MOSCOW,ID83684     		    EDUCATION 50,000
    UNIVERSITY OF MINNESOTA DULUTH
    1049 UNIVERSITY DR
    DULUTH,MN55812     		    EDUCATION 1,000
    UNIVERSITY OF MINNESOTA FOUNDATION
    200 FRASER HALL
    106 PLEASANT STREET
    MINNEAPOLIS,MN55455     		    EDUCATION 470,000
    UNIVERSITY OF NORTH DAKOTA
    264 CENTENNIAL DRIVE
    GRAND FORKS,ND582028371     		    EDUCATION 2,500
    UNIVERSITY OF WI - MADISON
    702 W JOHNSON ST 1101
    MADISON,WI53715     		    EDUCATION 1,000
    UNIVERSITY OF WI-LACROSSE FOUNDATIO
    1725 STATE STREET
    LACROSSE,WI54601     		    EDUCATION 5,000
    UNSEEN
    125 8TH ST N
    FARGO,ND58102     		    SOCIAL SERVICES 1,000
    VALLEY HOUSE HOMELESS SHELTER
    507 ADDISON AVE W
    TWIN FALLS,ID83301     		    SOCIAL SERVICES 25,000
    VINEYARD COMMUNITY SERVICES
    13798 PARKWOOD DR
    BURNSVILLE,MN55337     		    SOCIAL SERVICES 5,000
    WACOSA
    310 SUNDIAL DR
    WAITE PARK,MN56387     		    SOCIAL SERVICES 4,000
    WELLNESS TREE COMMUNITY CLINIC
    173 MARTIN ST
    TWIN FALLS,ID83301     		    HEALTH 5,000
    WEST CENTRAL INITIATIVE FOUNDATION
    1000 WESTERN AVE
    FERGUS FALLS,MN56537     		    SOCIAL SERVICES 5,000
    Total .................................bullet 3a 1,588,271
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    aSHOREWOOD CAMPUS     16 6,414,237  
    bU VILLAGE     16 4,150,137  
    cCMSH     16 12,660,364  
    dKEELER     16 325,117  
    eBANFILL SR HOUSING     16    
    fCOBORN PLAZA     16 4,276,040  
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 875,082  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 68,589  
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		        9,674,566
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aCOBORN PLAZA MISC REVENUE     		    16 9,926  
    bSHOREWOOD CAMPUS MISC. REV.     16 426,240  
    cU VILLAGE MISC. REV.     16 87,429  
    dKEELER MISC. REV.     16 10,145  
    eCMSH MISC. REV.     16 3,006,657  
    fFOUNDATION MISC REV     16 22,805  
    12 Subtotal. Add columns (b), (d), and (e)..   32,332,768 9,674,566
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    42,007,334
    (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 (2018)
    Form 990-PF (2018)
    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) (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) (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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 13,795      

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

    TY 2018 AmortizationSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
          1,900,358   8,607   8,607 1,908,965

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    TY 2018 DepreciationSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    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
    WEDUM   115,101 180,924     12,123   12,123  
    SHOREWOOD CAMPUS   22,717,642 14,827,572     731,859   731,859  
    U VILLAGE   22,627,459 12,043,478     807,607   807,607  
    KEELER   9,204,882 3,649,190     72,087   72,087  
    CMSH   14,295,067 7,594,070     723,469   723,469  
    BANFILL   9,331,603 3,056,022            
    TRANSPORTATION   198,382 35,403            
    COBORN PLAZA   29,218,349 6,123,224     853,787   853,787  

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    TY 2018 GainLossSaleOtherAssetsSch
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    SHORT TERM STOCK SALES   PURCHASE     1,167,310 1,235,280     -67,970  
    LONG TERM STOCK SALES   PURCHASE     2,143,549 1,992,607     150,942  
    SALE OF 17TH AVE/KEELER   PURCHASE     12,000,000 6,734,773     5,265,227  
    SALE OF PART OF CMSH   PURCHASE     9,300,000 4,973,633     4,326,367  

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BONDS 426,260 445,151

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Name of Stock End of Year Book Value End of Year Fair Market Value
    STOCKS 29,205,184 33,206,518

    TY 2018 InvestmentsOtherSchedule2
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    NOTE-PINE SHORE/INTERLACHEN AT COST 136,917  

    TY 2018 LandEtcSchedule2
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COBORN PLAZA 30,962,375 6,977,012 23,985,363 30,962,375
    CMSH - DEPR. ASSETS 14,874,989 7,938,165 6,936,824 14,874,989
    KEELER - DEPR. ASSETS        
    SHOREWOOD - DEPR. ASSETS 26,933,352 15,397,198 11,536,154 26,933,352
    U VILLAGE - DEPR. ASSETS 25,803,281 12,851,085 12,952,196 25,803,281
    WEDUM - DEPR. ASSETS 285,206 234,637 50,569 285,206
    SHOREWOOD - LAND 3,582,078   3,582,078 3,582,078
    U VILLAGE - LAND 2,226,421   2,226,421 2,226,421
    KEELER - LAND        
    CMSH - LAND 1,155,263   1,155,263 1,155,263
    ST. CLOUD - LAND/COBORN PLAZA 3,917,139   3,917,139 3,917,139
    WEDUM FOUNDATION - LAND 139,858   139,858 139,858


    TY 2018 LegalFeesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT LEGAL FEES 7,599      


    TY 2018 MortgagesAndNotesPayableSch
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Total Mortgage Amount:  

    Item No. 1
    Lender's Name SHOREWOOD
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 29,300,000
    Balance Due 25,022,488
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan CONSTRUCTION
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 2
    Lender's Name U VILLAGE
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 25,880,104
    Balance Due 20,224,570
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower MORTGAGE
    Purpose of Loan CONSTRUCTION
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 3
    Lender's Name CMSH
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 19,965,000
    Balance Due 5,820,000
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan CONSTRUCTION
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 4
    Lender's Name KEELER
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 12,306,270
    Balance Due  
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan CONSTRUCTION
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 5
    Lender's Name ST CLOUD
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 31,979,292
    Balance Due 20,156,063
    Date of Note  
    Maturity Date  
    Repayment Terms  
    Interest Rate  
    Security Provided by Borrower  
    Purpose of Loan CONSTRUCTION
    Description of Lender Consideration  
    Consideration FMV  


    TY 2018 OtherAssetsSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    TENANT SECURITY DEPOSITS 622,772 549,775 549,755
    U VILLAGE - OTHER ASSETS - RESERVES 2,541,994 3,862,368 3,862,368
    KEELER - OTHER ASSETS - RESERVES 1,022,728    
    CMSH - OTHER ASSETS - RESERVES 2,396,714 1,416,751 1,416,751
    SHOREWOOD FINANCING FEES - NET 242,623 224,595 224,595
    U VILLAGE FINANCING FEES - NET 111,721 107,989 107,989
    KEELER FINANCING FEES - NET 257,484    
    CMSH - GOODWILL 6,878,617 5,044,345 5,044,345
    CMSH FINANCE FEES - NET 512,936 190,494 190,494
    COBORN - OTHER ASSETS - RESERVES 455,406 557,412 557,412
    COBORN FINANCE FEES - NET 212,509 195,910 195,910
    BENEFICIAL INTEREST IN CHAR REM TRUS 612,445 591,800 591,800


    TY 2018 OtherExpensesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SHOREWOOD CAMPUS        
    ADMINISTRATIVE 717,202   717,202  
    U VILLAGE        
    ADMINISTRATIVE 373,868   373,868  
    CMSH        
    ADMINISTRATIVE 788,199   788,199  
    KEELER        
    ADMINISTRATIVE 64,557   64,557  
    BANFILL SR HOUSING        
    ADMINISTRATIVE EXPENSE        
    COBORN PLAZA        
    ADMINISTRATIVE 575,830   575,830  
    EXPENSES        
    ADMINISTRATIVE EXPENSE 34,172      
    CONSULTING FEES 17,000      
    INSURANCE 23,879      
    TELEPHONE/INTERNET 5,381      
    BOARD EXPENSES 14,745      
    AUTOMOBILE EXPENSE 5,606      


    TY 2018 OtherIncomeSchedule2
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    SHOREWOOD CAMPUS 6,414,237   6,414,237
    U VILLAGE 4,150,137   4,150,137
    CMSH 12,660,364   12,660,364
    KEELER 325,117   325,117
    COBORN PLAZA 4,276,040   4,276,040
    COBORN PLAZA MISC REVENUE 9,926   9,926
    SHOREWOOD CAMPUS MISC. REV. 426,240   426,240
    U VILLAGE MISC. REV. 87,429   87,429
    KEELER MISC. REV. 10,145   10,145
    CMSH MISC. REV. 3,006,657   3,006,657
    FOUNDATION MISC REV 22,805   22,805


    TY 2018 OtherIncreasesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description Amount
    BOOK TO TAX DIFFERENCES 237,721


    TY 2018 OtherLiabilitiesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Description Beginning of Year - Book Value End of Year - Book Value
    SHOREWOOD DEPOSITS 452,912 477,135
    U VILLAGE DEPOSITS 66,469 76,144
    ACCRUED INTEREST 551,838 262,828
    PREPAID RENT 444,795 682,844
    PREPAID LAND LEASE 806,018  


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    JA WEDUM FOUNDATION
    EIN:
    41-6025661
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT OTHER PROFESSIONAL FEES 263,124