TY 2017 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2019

Open to Public Inspection

For calendar year 2019, or tax year beginning 09-01-2017 , and ending 08-31-2018

Name of foundation
AUGUSTUS H KENNEDY MEM FUND TR

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

41-1328800

B Telephone number (see instructions)

(612) 303-3259

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$6,078,825J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	189,341		187,865
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		357,439
b	Gross sales price for all assets on line 6a 1,026,848
7	Capital gain net income (from Part IV, line 2)...			357,439
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).......		163
12	Total. Add lines 1 through 11........	546,943		545,304
13	Compensation of officers, directors, trustees, etc.	72,526		65,274		7,253
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........		162	0	0	162
b	Accounting fees (attach schedule).......		1,500	0	0	1,500
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		3,170	3,170		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		385
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	77,743		68,444	0	8,915
25	Contributions, gifts, grants paid.......	295,367				295,367
26	Total expenses and disbursements. Add lines 24 and 25	373,110		68,444	0	304,282
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	173,833
b	Net investment income (if negative, enter -0-)			476,860
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2019)

Form 990-PF (2019)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............		227	227
	2	Savings and temporary cash investments.........	185,506	50,197	50,197
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	3,200,068	3,356,155	5,232,214
	c	Investments—corporate bonds (attach schedule).......	541,440	647,258	647,561
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	100,000	147,650	148,626
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,027,014	4,201,487	6,078,825
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	4,027,014	4,201,487
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	4,027,014	4,201,487
	30	Total liabilities and net assets/fund balances (see instructions).	4,027,014	4,201,487

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

4,027,014

Enter amount from Part I, line 27a .....................

173,833

Other increases not included in line 2 (itemize) bullet

664

Add lines 1, 2, and 3 ..........................

4,201,511

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

4,201,487

Form 990-PF (2019)

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	298. LINDE AG A D R		2014-10-15	2017-09-26
b	30. WPP PLC SPONSORED A D R		2010-04-08	2017-10-05
c	.5 AIR LIQUIDE ADR		2016-02-12	2017-11-16
d	117. GRUPO TELEVISA SA SPONS A D R		2016-05-24	2017-11-20
e	1. BANK OF AMERICA CLASS ACTION PROCEEDS		1911-11-11	2017-12-12
	13055.062 DRIEHAUS ACTIVE INCOME FUND		2011-05-13	2018-01-05
	10708.143 NUVEEN INFLATION PRO SEC CL I		2005-12-06	2018-01-05
	107. MITSUBISHI ESTATE LTD A D R		2013-10-01	2018-01-09
	70. MITSUBISHI ESTATE LTD A D R		2013-10-01	2018-01-10
	36. NASPERS LTD N SPON A D R		2015-07-08	2018-02-27
	19. SAP AG SYSTEM ANWENDUNGEN PRODUKTE INDER DATENVERARBEITU		2010-04-08	2018-02-27
	850. ABBOTT LABORATORIES		1987-09-02	2018-04-13
	545. ABBVIE INC		1987-09-02	2018-04-13
	755. DOWDUPONT INC		1977-09-24	2018-04-13
	75. ECOLAB INC COM		2006-09-19	2018-04-13
	730. EMERSON ELEC CO COM		1911-11-11	2018-04-13
	5026.68 NUVEEN CORE PLUS BOND I		2008-06-10	2018-04-13
	230. 3M CO		1977-09-24	2018-04-13
	1354. TURKIYE GARANTI BANKASI A S A D R		2010-11-24	2018-04-27
	22005.266 ABERDEEN FDS EMRGN		2011-05-13	2018-05-09
	35. DASSAULT SYSTEMES S.A. SPA ADR		2010-04-08	2018-05-18
	27. SHIRE PHARMACEUTICALS GR SPONSORED ADR		2017-05-22	2018-05-18
	20. SHIRE PHARMACEUTICALS GR SPONSORED ADR		2016-11-25	2018-05-18
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	5,886	5,268	618
b	2,727	1,583	1,144
c	12	10	2
d	2,164	3,148	-984
e	138		138
	129,637	147,000	-17,363
	119,717	102,341	17,376
	1,962	3,188	-1,226
	1,305	2,080	-775
	2,027	980	1,047
	1,984	920	1,064
	50,073	2,946	47,127
	50,238	2,048	48,190
	50,449	3,990	46,459
	10,604	3,171	7,433
	50,260		50,260
	53,936	54,841	-905
	49,792	1,222	48,570
	3,087	7,259	-4,172
	341,522	317,976	23,546
	4,569	1,047	3,522
	4,572	4,880	-308
	3,387	3,511	-124
			86,800

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			618
b			1,144
c			2
d			-984
e			138
			-17,363
			17,376
			-1,226
			-775
			1,047
			1,064
			47,127
			48,190
			46,459
			7,433
			50,260
			-905
			48,570
			-4,172
			23,546
			3,522
			-308
			-124

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	357,439
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

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? Yes No

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))
2018	292,376	5,885,112	0.049681
2017	279,311	5,705,780	0.048952
2016	313,796	6,135,320	0.051146
2015	290,641	6,128,236	0.047427
2014	286,242	5,863,175	0.04882

Total of line 1, column (d) .....................

0.246026

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 ......

0.049205

Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......

6,197,939

Multiply line 4 by line 3......................

304,970

Enter 1% of net investment income (1% of Part I, line 27b)...........

4,769

Add lines 5 and 6........................

309,739

Enter qualifying distributions from Part XII, line 4,.............

304,282

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 (2019)

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	9,537
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	9,537
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	9,537
6	Credits/Payments:

a	2019 estimated tax payments and 2018 overpayment credited to 2019	6a	732
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	732
8	Enter any penalty for underpayment of estimated tax. Check here 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.......		9	8,805
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2020 estimated tax0	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions

for definition).................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2019 or the taxable year beginning in 2019? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2019)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

US BANK NATIONAL ASSN Telephone no. bullet

(612) 303-3259

Located at bullet

800 NICOLLETT MALL BC-MN-H16AMINNEAPOLISMN ZIP+4 bullet

554027020

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

16 At any time during calendar year 2019, 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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2019?.............

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)):

At the end of tax year 2019, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2019?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2019 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 2019.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2019?

Form 990-PF (2019)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
US BANK NA	CORP TRUSTEE 1	72,526
101 EAST FIFTH STREET ST PAUL,MN55101	CORP TRUSTEE 1	72,526

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...................				0

Form 990-PF (2019)

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


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2019)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

6,023,797

Average of monthly cash balances.......................

268,527

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

6,292,324

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

6,292,324

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

94,385

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

6,197,939

Minimum investment return. Enter 5% of line 5..................

309,897

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part X, line 6....................

309,897

Tax on investment income for 2019 from Part VI, line 5......

9,537

Income tax for 2019. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

9,537

Distributable amount before adjustments. Subtract line 2c from line 1............

300,360

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

300,360

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

300,360

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

304,282

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

304,282

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

304,282

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 (2019)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2018	(c) 2018	(d) 2019
1 Distributable amount for 2019 from Part XI, line 7					300,360
2 Undistributed income, if any, as of the end of 2019:
a Enter amount for 2018 only.......				2,261
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2019:
a From 2014......	0
b From 2015......	0
c From 2016......	0
d From 2017......	0
e From 2018......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2019 from Part
XII, line 4: $ 304,282
a Applied to 2018, but not more than line 2a				2,261
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 2019 distributable amount.....					300,360
e Remaining amount distributed out of corpus		1,661
5 Excess distributions carryover applied to 2019.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		1,661
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 2018. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2019. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2020 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2014 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2020. Subtract lines 7 and 8 from line 6a ......		1,661
10 Analysis of line 9:
a Excess from 2015....	0
b Excess from 2016....	0
c Excess from 2017....	0
d Excess from 2018....	0
e Excess from 2019....	1,661

Form 990-PF (2019)

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 2019, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2019	(b) 2018	(c) 2017	(d) 2016	(e) Total

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

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).)

NOT APPLICABLE

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.

NOT APPLICABLE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2019)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ARCHDIOCESE OF ST PAUL & MINNEAPOLIS ATTN TOM MERTENS CHIEF FINANCIAL OFFICE 3278 WEST KELLOGG BLVD ST PAUL,MN55102	NONE	PC	GENERAL OPERATING	14,768
MINNESOTA FOUNDATION ATTN CHRISTINE SEARSON 101 FIFTH STREET EAST - STE 2400 SAINT PAUL,MN551011800	NONE	PC	GENERAL OPERATING	73,842
REV OBLATE FATHERS INC ATTN ROBERT MOOSBRURGER 391 MICHIGAN AVE NE WASHINGTON DC,DC20017	NONE	PC	GENERAL OPERATING	88,610
THE DIOCESE OF MIAMI ATTN LAWRENCE K ZIGMONT 9401 BISCAYNE BLVDE MIAMI SHORES,FL33138	NONE	PC	GENERAL OPERATING	29,537
MAYO FOUNDATION MAYO CLINIC ATTN MS BETHEL RUEST DEVELOPEMENT 200 FIRST STREET SW RICHESTER,MN55905	NONE	PC	GENERAL OPERATING	88,610
Total ................................. 3a				295,367

bApproved for future payment

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

Form 990-PF (2019)

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	189,341
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	357,439
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	163
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				546,943

13Total. Add line 12, columns (b), (d), and (e)..................

546,943

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)
8	0

Form 990-PF (2019)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below (see instr.) Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2019)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2017 AccountingFeesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,500			1,500

- TIN:

TY 2017 InvestmentsCorpBondsSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Name of Bond	End of Year Book Value	End of Year Fair Market Value
670678622 NUVEEN CORE PLUS BON
31420B300 FEDERATED INST HI YL	275,000	270,087
670678390 NUVEEN STRATEGIC INC	182,258	187,940
262028855 DRIEHAUS ACTIVE INCO
670690387 NUVEEN INFLATION PRO
258620103 DOUBLELINE TOTAL RET	90,000	89,484
06741T2Z9 BARC 5Y 3ML F2F MTN	100,000	100,050

- TIN:

TY 2017 InvestmentsCorpStockSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Name of Stock	End of Year Book Value	End of Year Fair Market Value
TARGET CORP
466140100 JGC CORP UNSPONSORED	7,381	4,951
278865100 ECOLAB INC	22,196	79,002
806857108 SCHLUMBERGER LTD	110,504	97,014
641069406 NESTLE SA SPONSORED	8,550	14,489
40049J206 GRUPO TELEVISA SA SP
072730302 BAYER AG A D R	15,832	13,902
803866300 SASOL LTD SPONSORED	4,481	4,476
904767704 UNILEVER PLC SPSD AD	4,563	7,450
40052P107 GRUPO FIN BANORTE SP	4,192	5,683
606783207 MITSUBISHI ESTATE LT
701491102 PARK24 CO LTD SPN A	4,116	4,416
015393101 ALFA LAVAL AB SWEDEN	3,539	6,053
83569C102 SONOVA HOLDING UNSPO	2,413	5,455
001317205 AIA GROUP LTD ADR	8,139	18,574
072743305 BAYERISCHE MOTOREN S	4,997	4,971
35952Q106 FUCHS PETROLUB SE PR	4,569	5,574
04530Y106 ASPEN PHARMACARE HL	5,096	4,517
00203H446 AQR LONG SHORT EQUIT	357,012	315,713
921937694 VANGUARD MIDCAP VALU	200,900	265,481
98389B100 X CEL ENERGY INC	16,120	128,438
46432F842 ISHARES CORE MSCI EA	299,218	316,957
260543103 DOW CHEM CO
913017109 UNITED TECHNOLOGIES	20,198	39,510
88579Y101 3M CO	4,968	197,210
803054204 SAP SE SPONSORED A D	6,649	14,129
M22465104 CHECK POINT SOFTWARE	8,694	12,084
12637N204 CSL LIMITED A D R	1,241	7,311
82481R106 SHIRE PLC A D R
307305102 FANUC CORPORATION A	7,091	11,407
670678507 NUVEEN REAL ESTATE S	319,019	328,451
922042676 VANGUARD GLBL EX US	220,746	231,200
237545108 DASSAULT SYSTEMES SA	3,142	16,926
874039100 TAIWAN SEMICONDUCTOR	5,258	18,094
45104G104 ICICI BANK LTD A D R	3,696	5,008
92937A102 WPP PLC SPONSORED A	2,690	4,223
502441306 LVMH MOET HENNESSY A	2,441	7,640
056752108 BAIDU COM INC A D R	11,069	15,401
097023105 BOEING CO	22,088	102,837
369604103 GENERAL ELECTRIC CO	102,179	31,095
358029106 FRESENIUS MED AKTIEN	6,046	9,397
404280406 HSBC HOLDINGS PLC SP	4,725	4,929
025816109 AMERICAN EXPRESS CO	77,025	211,960
459200101 INTERNATIONAL BUSINE	41,250	73,240
742718109 PROCTER GAMBLE CO	21,588	132,720
00206R102 ATT INC	14,809	127,760
465562106 ITAU UNIBANCO HOLDIN	4,988	5,741
501173207 KUBOTA LTD A D R	3,715	3,907
45662N103 INFINEON TECHNOLOGIE	6,492	6,715
398438408 GRIFOLS SA A D R	3,324	4,133
631512209 NASPERS LTD N SPON A	5,302	9,857
049255706 ATLAS COPCO AB SPONS	2,460	4,365
40415F101 H D F C BK LTD A D R	3,869	4,456
74316J458 CONGRESS MID CAP GRO	132,568	182,425
002824100 ABBOTT LABORATORIES	3,985	76,866
037411105 APACHE CORP	32,182	39,447
291011104 EMERSON ELECTRIC CO		97,447
478160104 JOHNSON JOHNSON	33,793	123,645
02364W105 AMERICA MOVIL A D R	38,600	33,540
771195104 ROCHE HOLDINGS LTD S	8,746	12,043
87184P109 SYSMEX CORP UNSPON A	2,135	9,657
61022V107 MONOTARO CO LTD UNSP	1,651	8,040
780259107 ROYAL DUTCH SHELL A	9,458	13,880
003021714 ABERDEEN FDS EMRGN
577130776 MATTHEWS ASIA GROWTH	322,000	401,944
713448108 PEPSICO INC	58,690	112,010
30231G102 EXXON MOBIL CORP	2,826	80,170
136375102 CANADIAN NATL RY CO	4,205	10,580
502117203 LOREAL UNSPONSORED A	4,535	10,392
23304Y100 DBS GROUP HLDGS LTD	6,078	9,643
535223200 LINDE AG A D R
88031M109 TENARIS SA ADR	2,318	2,952
05530H100 BBA AVIATION PLC UNS	1,673	2,219
87155N109 SYMRISE AG UNSPON A	3,671	6,244
670690759 NUVEEN MID CAP GRWTH	187,998	224,182
032511107 ANADARKO PETROLEUM C	15,557	45,144
00287Y109 ABBVIE INC	3,356	85,710
05946K101 BANCO BILBAO VIZCAYA	10,902	8,575
009126202 AIR LIQUIDE S A A D	13,152	16,698
018805101 ALLIANZ SE A D R	9,065	13,433
900148701 TURKIYE GARANTI BANK
06828M876 BARON EMERGING MARKE	375,000	338,192
02319V103 AMBEV SA SPN A D R	4,376	4,139
54338V101 LONZA GROUP AG UNSPO	7,395	8,899
948596101 WEIBO CORP-SPON ADR	7,450	5,832
26078J100 DOWDUPONT INC	11,864	157,442
670108109 NOVOZYMES A S UNSPON	4,162	4,380
87974R208 TEMENOS GROUP AG SP	5,883	7,080
87612E106 TARGET CORP	6,010	131,250
23405X209 DAITO TRUST CONS SPN	4,291	3,292

- TIN:

TY 2017 InvestmentsOtherSchedule2

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
06741T2Z9 BARC 5Y 3ML F2F MTN
912796PD5 U S TREASURY BILL	AT COST	74,240	74,724
912796QC6 U S TREASURY BILL	AT COST	73,410	73,902

- TIN:

TY 2017 LegalFeesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES - INCOME (ALLOCABLE	162			162

- TIN:

TY 2017 OtherDecreasesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Description	Amount
ROUNDING	24

- TIN:

TY 2017 OtherExpensesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADR FEES	360	0		0
CHARITABLE STATE FILING FEE	25	0		0

- TIN:

TY 2017 OtherIncomeSchedule2

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
FEDERAL TAX REFUND	163	0

- TIN:

TY 2017 OtherIncreasesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Description	Amount
GAIN ON PY SALES SETTLED AT YEAR END	664

- TIN:

TY 2017 TaxesSchedule

Name:

AUGUSTUS H KENNEDY MEM FUND TR

EIN:

41-1328800

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	2,582	2,582		0
FOREIGN TAXES ON NONQUALIFIED	588	588		0