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
GLADYS E KNOWLES CHARITABLE TRUST
 
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

81-0423029
B Telephone number (see instructions)

(503) 464-3580
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$2,253,744J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 56,748 56,617  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 176,224
b Gross sales price for all assets on line 6a 888,686
7 Capital gain net income (from Part IV, line 2)... 176,224
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 232,972 232,841  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 33,855 30,469   3,385
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 2,000 0 0 2,000
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,646 1,207   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).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 37,501 31,676 0 5,385
25 Contributions, gifts, grants paid....... 98,241 98,241
26 Total expenses and disbursements. Add lines 24 and 25 135,742 31,676 0 103,626
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 97,230
b Net investment income (if negative, enter -0-) 201,165
c Adjusted net income (if negative, enter -0-)... 0
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............. 1,759 724 724
2 Savings and temporary cash investments......... 68,293 76,717 76,717
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,033,952 Click to see attachment1,062,768 1,369,664
c Investments—corporate bonds (attach schedule)....... 741,142 Click to see attachment801,251 789,616
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 16,489 Click to see attachment16,489 15,831
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment772 Click to see attachment1,192 Click to see attachment1,192
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,862,407 1,959,141 2,253,744
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 1,862,407 1,959,141
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)..... 1,862,407 1,959,141
31 Total liabilities and net assets/fund balances (see instructions). 1,862,407 1,959,141
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
1,862,407
2
Enter amount from Part I, line 27a .....................
2
97,230
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
1,959,637
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
496
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
1,959,141
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.)
1 a 100. CARDINAL HEALTH INC     2018-01-02
b 15. CITIGROUP INC   2011-02-17 2018-01-02
c 70. ISHARES BARCLAYS TIPS BOND ETF     2018-01-02
d 35. ISHARES BARCLAYS TIPS BOND ETF     2018-01-02
e 15. LOWES COMPANIES INC   2014-07-01 2018-01-02
15. NIKE INC. CLASS B   2011-09-19 2018-01-02
25000. OCCIDENTAL PETROLM 1.500% 2/15/18   2013-03-12 2018-02-15
15. ABBVIE INC   2014-09-10 2018-02-16
50. AMERICAN CAMPUS COMMUNITIES   2017-03-09 2018-02-16
3. BOEING COMPANY   2016-03-31 2018-02-16
35. CITIGROUP INC     2018-02-16
200. ISHARES S P U S PREFERRED STOCK ETF   2009-10-19 2018-02-16
20. MOHAWK INDS INC COM   2013-06-20 2018-02-16
10. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-02-16
35. PRAXAIR INC   2003-12-22 2018-02-16
80. QUALCOMM INC   2002-09-20 2018-02-16
20. SCHLUMBERGER LTD ISIN #AN8068571086   2009-06-01 2018-02-16
20. ABBVIE INC     2018-03-06
136. AMERICAN CAMPUS COMMUNITIES     2018-03-06
20. AMERICAN CAMPUS COMMUNITIES   2017-01-11 2018-03-06
10. BOEING COMPANY   2016-03-31 2018-03-06
20. COSTCO WHSL CORP NEW     2018-03-06
20. EXXON MOBIL CORP   1994-06-16 2018-03-06
40. J P MORGAN CHASE & CO     2018-03-06
10. MCDONALDS CORP   2009-04-03 2018-03-06
35. NIKE INC. CLASS B   2011-09-19 2018-03-06
20. PRAXAIR INC   2003-12-22 2018-03-06
30. STARBUCKS CORP   2010-12-27 2018-03-06
25. VERIZON COMMUNICATIONS     2018-03-06
25. WELLS FARGO & CO NEW   2002-04-09 2018-03-06
2. ALPHABET INC CL C   2008-11-04 2018-03-26
37. CIGNA CORP COM     2018-03-26
339. CANADIAN NATURAL RESOURCES LTD     2018-03-26
83. CANADIAN NATURAL RESOURCES LTD   2017-01-11 2018-03-26
15. WALT DISNEY CO   2010-02-10 2018-03-26
10. MASTERCARD INC   2009-11-18 2018-03-26
10. MCDONALDS CORP   2009-04-03 2018-03-26
25. NIKE INC. CLASS B   2011-09-19 2018-03-26
15. PROCTER & GAMBLE CO   2002-03-19 2018-03-26
683.995 T ROWE PRICE INTL GRINC FD   2013-06-19 2018-03-26
6. 3M CO   2002-12-18 2018-03-26
5. UNITED TECHNOLOGIES CORP   2004-01-05 2018-03-26
15. MEDTRONIC PLC   2015-01-27 2018-03-26
20. APPLE COMPUTER INC   2005-07-13 2018-04-11
85. EOG RES INC COM     2018-04-11
100. GENERAL ELEC CO   2009-04-03 2018-04-11
25. J P MORGAN CHASE & CO   2009-11-17 2018-04-11
25. LOWES COMPANIES INC     2018-04-11
15. MCDONALDS CORP   2009-04-03 2018-04-11
25. PROCTER & GAMBLE CO   2002-03-19 2018-04-11
589.623 ROBECO BOSTON PARTNERS L S RSRCH   2015-03-04 2018-04-11
15. APPLE COMPUTER INC   2005-07-13 2018-04-20
1. BOOKING HOLDINGS INC   2015-11-09 2018-04-20
15. WALT DISNEY CO   2010-02-10 2018-04-20
100. ISHARES MSCI EAFE GROWTH INDEX ETF   2017-08-02 2018-04-20
20. NIKE INC. CLASS B   2011-09-19 2018-04-20
27. PEPSICO INC   2001-09-19 2018-04-20
15. PRAXAIR INC   2003-12-22 2018-04-20
53. SEMPRA ENERGY COM     2018-04-20
25. STARBUCKS CORP   2010-12-27 2018-04-20
22. VERIZON COMMUNICATIONS   2006-05-19 2018-04-20
3. ALPHABET INC CL C   2008-11-04 2018-05-15
10. APPLE COMPUTER INC   2005-07-13 2018-05-15
10. BOEING COMPANY   2016-03-31 2018-05-15
50. CISCO SYS INC   2016-04-06 2018-05-15
35. EXXON MOBIL CORP   1994-06-16 2018-05-15
262. ISHARES MSCI EAFE GROWTH INDEX ETF     2018-05-15
20. JOHNSON & JOHNSON   2015-04-15 2018-05-15
10. MASTERCARD INC   2009-11-18 2018-05-15
45. WELLS FARGO & CO NEW   2002-04-09 2018-05-15
20. MEDTRONIC PLC   2015-01-27 2018-05-15
30. EXXON MOBIL CORP   1994-06-16 2018-05-17
50. CISCO SYS INC     2018-05-30
40. DELTA AIR LINES INC   2017-05-19 2018-05-30
15. WALT DISNEY CO   2010-02-10 2018-05-30
15. JOHNSON & JOHNSON   2015-04-15 2018-05-30
10. LOWES COMPANIES INC   2014-06-26 2018-05-30
10. MASTERCARD INC   2009-11-18 2018-05-30
15. NIKE INC. CLASS B   2011-09-19 2018-05-30
50. PFIZER INC COM     2018-05-30
10. PRAXAIR INC   2003-12-22 2018-05-30
20. STARBUCKS CORP   2010-12-27 2018-05-30
15. STRYKER CORP   2014-03-07 2018-05-30
100. WELLS FARGO & CO NEW     2018-05-30
17. ABBVIE INC   2011-07-21 2018-06-27
3. ALPHABET INC CL C   2008-11-04 2018-06-27
15. APPLE COMPUTER INC   2005-07-13 2018-06-27
475.285 BAIRD AGGREGATE BOND FD INSTL     2018-06-27
2. BOOKING HOLDINGS INC   2015-11-09 2018-06-27
15. CVS CORP COM   2017-09-27 2018-06-27
29. CVS CORP COM     2018-06-27
100. CISCO SYS INC     2018-06-27
10. COSTCO WHSL CORP NEW   2015-10-16 2018-06-27
453. ISHARES MSCI EAFE VALUE INDEX ETF     2018-06-27
15. LOWES COMPANIES INC   2014-06-26 2018-06-27
15. MASTERCARD INC   2009-11-18 2018-06-27
455.927 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2013-04-08 2018-06-27
15. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-06-27
50. STARBUCKS CORP   2010-12-27 2018-06-27
633.714 TCW EMERGING MARKETS INCOME FUND     2018-06-27
10. 3M CO   2002-12-18 2018-06-27
13. UNITED TECHNOLOGIES CORP   2004-01-05 2018-06-27
612.37 ROBECO BOSTON PARTNERS L S RSRCH     2018-07-05
634.518 TCW EMERGING MARKETS INCOME FUND     2018-07-05
1872.191 T ROWE PRICE INTL GRINC FD     2018-07-23
20. APPLE COMPUTER INC   2005-07-13 2018-08-13
35. CVS CORP COM   2016-04-29 2018-08-13
25. CITIGROUP INC   2013-03-11 2018-08-13
5. COSTCO WHSL CORP NEW   2017-08-02 2018-08-13
25. J P MORGAN CHASE & CO   2009-11-17 2018-08-13
25. MARATHON PETROLEUM CORP   2016-08-17 2018-08-13
25. NIKE INC. CLASS B     2018-08-13
10. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-08-13
10. UNITED TECHNOLOGIES CORP   2004-01-05 2018-08-13
945.18 BAIRD AGGREGATE BOND FD INSTL     2018-08-16
484.966 NUVEEN REAL ESTATE SECS I     2018-08-16
20. ABBVIE INC   2011-07-21 2018-08-29
5. BOEING COMPANY   2016-03-31 2018-08-29
1. BOOKING HOLDINGS INC   2015-10-06 2018-08-29
25. CVS CORP COM     2018-08-29
7. COSTCO WHSL CORP NEW   2017-08-02 2018-08-29
20. EXXON MOBIL CORP   1994-06-16 2018-08-29
35. INTEL CORP COM     2018-08-29
25. MARATHON PETROLEUM CORP   2016-09-26 2018-08-29
15. NIKE INC. CLASS B   2011-08-25 2018-08-29
5. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-08-29
10. ACCENTURE PLC CL A   2012-06-06 2018-08-29
2728.066 TCW EMERGING MARKETS INCOME FUND     2018-08-30
323.714 TCW EMERGING MARKETS INCOME FUND   2018-04-11 2018-08-30
1420.455 BAIRD AGGREGATE BOND FD INSTL     2018-09-07
5. COSTCO WHSL CORP NEW     2018-09-07
685. GENERAL ELEC CO     2018-09-07
10. J P MORGAN CHASE & CO   2009-11-17 2018-09-07
40. MARATHON PETROLEUM CORP   2016-09-26 2018-09-07
5. SERVICENOW INC   2017-06-16 2018-09-07
38. CHEVRONTEXACO CORP COM   2018-03-26 2018-09-19
30. STRYKER CORP   2014-03-07 2018-09-19
10. APPLE COMPUTER INC   2005-07-13 2018-10-03
50. CISCO SYS INC   2013-02-21 2018-10-03
50. DELTA AIR LINES INC     2018-10-03
226.809 FIDELITY INVT TR AD INTL DISCI   2017-05-11 2018-10-03
15. SERVICENOW INC     2018-10-03
50. VERIZON COMMUNICATIONS   2006-05-19 2018-10-03
719.77 BAIRD AGGREGATE BOND FD INSTL     2018-10-05
1439.539 BAIRD AGGREGATE BOND FD INSTL     2018-10-12
597.229 FIDELITY INVT TR AD INTL DISCI     2018-10-17
25000. AETNA INC 2.750% 11/15/22   2017-11-14 2018-10-24
35. PRAXAIR INC   2003-12-22 2018-10-31
30000. U S TREASURY NT 1.750% 10/31/18     2018-10-31
100. ATT INC   2014-06-19 2018-11-08
15. APPLE COMPUTER INC   2005-07-13 2018-11-08
40. CVS CORP COM     2018-11-08
10. COSTCO WHSL CORP NEW   2017-11-02 2018-11-08
241.955 FIDELITY INVT TR AD INTL DISCI   2015-10-06 2018-11-08
43. HORMEL FOODS CORPORATIONCOM   2018-04-11 2018-11-08
15. J P MORGAN CHASE & CO     2018-11-08
15. MCDONALDS CORP   2009-04-03 2018-11-08
10. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-11-08
106.701 ROWE T PRICE MID CAP GROWTH FD INC     2018-11-08
50. SCHWAB CHARLES CORP NEW COM   2017-09-18 2018-11-08
35. STARBUCKS CORP   2010-12-27 2018-11-08
25. VERIZON COMMUNICATIONS   2006-05-19 2018-11-08
15. LINDE PLC   2003-12-22 2018-11-08
25000. ATT INC 2.375% 11/27/18   2016-12-05 2018-11-27
3. BOOKING HOLDINGS INC   2015-09-04 2018-11-28
100. CVS CORP COM     2018-11-28
22. CITIGROUP INC   2013-03-11 2018-11-28
252.334 FIDELITY INVT TR AD INTL DISCI   2015-10-06 2018-11-28
38. HORMEL FOODS CORPORATIONCOM     2018-11-28
10. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010   2013-06-24 2018-11-28
366. SCHWAB U.S. TIPS ETF     2018-11-28
20. LINDE PLC   2003-12-22 2018-11-28
20. CHUBB LTD   2017-09-27 2018-11-28
1020.408 LOOMIS SAYLES STRATEGIC ALPHA FUND Y   2013-04-08 2018-12-04
1063.83 FEDERATED INST HI YLD BD FD     2018-12-11
936.33 NUVEEN CORE PLUS BOND I   2018-03-26 2018-12-11
18.78 NUVEEN CORE PLUS BOND I   2017-10-25 2018-12-11
53.952 NUVEEN PREFERRED SECURITIES FUND   2017-10-25 2018-12-11
575.375 NUVEEN PREFERRED SECURITIES FUND   2018-02-16 2018-12-11
25000. JOHN DEERE MTN 1.950% 12/13/18   2015-07-17 2018-12-13
1632.209 FEDERATED INST HI YLD BD FD     2018-12-21
1342.382 NUVEEN CORE PLUS BOND I   2017-10-25 2018-12-21
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,284   8,277 -1,993
b 1,111   748 363
c 7,960   8,111 -151
d 3,980   3,989 -9
e 1,382   725 657
949   336 613
25,000   25,250 -250
1,765   856 909
1,826   2,297 -471
1,072   381 691
2,697   1,676 1,021
7,412   7,188 224
5,010   2,212 2,798
1,602   702 900
5,388   1,327 4,061
5,248   943 4,305
1,335   1,172 163
2,288   758 1,530
5,084   6,243 -1,159
748   971 -223
3,512   1,270 2,242
3,834   3,044 790
1,530   292 1,238
4,613   1,719 2,894
1,510   558 952
2,279   784 1,495
3,064   758 2,306
1,709   485 1,224
1,218   705 513
1,429   618 811
2,067   363 1,704
6,151   2,708 3,443
10,031   10,668 -637
2,456   2,569 -113
1,498   442 1,056
1,762   228 1,534
1,578   558 1,020
1,642   560 1,082
1,142   665 477
10,185   9,460 725
1,314   363 951
629   237 392
1,170   1,154 16
3,459   109 3,350
9,295   8,258 1,037
1,291   1,087 204
2,783   1,071 1,712
2,171   1,188 983
2,453   837 1,616
1,956   1,109 847
9,959   9,157 802
2,490   82 2,408
2,124   1,317 807
1,504   442 1,062
8,114   7,608 506
1,314   448 866
2,768   1,325 1,443
2,255   569 1,686
5,813   5,651 162
1,457   404 1,053
1,055   620 435
3,243   545 2,698
1,861   55 1,806
3,417   1,270 2,147
2,263   1,398 865
2,857   512 2,345
21,430   19,843 1,587
2,499   2,014 485
1,916   228 1,688
2,469   1,112 1,357
1,685   1,539 146
2,463   439 2,024
2,159   1,178 981
2,159   1,939 220
1,496   442 1,054
1,814   1,511 303
973   473 500
1,907   228 1,679
1,069   336 733
1,803   1,254 549
1,557   379 1,178
1,148   323 825
2,625   1,223 1,402
5,402   2,424 2,978
1,577   469 1,108
3,356   545 2,811
2,788   82 2,706
5,010   5,290 -280
4,040   2,633 1,407
1,052   1,224 -172
2,034   2,945 -911
4,282   2,108 2,174
2,115   1,516 599
23,148   22,312 836
1,464   709 755
2,939   342 2,597
4,491   4,742 -251
2,058   1,054 1,004
2,513   808 1,705
5,006   5,461 -455
1,972   605 1,367
1,647   617 1,030
10,043   9,387 656
5,025   5,336 -311
27,034   25,418 1,616
4,179   109 4,070
2,401   3,521 -1,120
1,737   1,170 567
1,095   805 290
2,860   1,071 1,789
2,013   1,058 955
2,000   539 1,461
1,423   702 721
1,317   474 843
10,000   10,346 -346
10,078   6,681 3,397
1,954   552 1,402
1,752   635 1,117
1,946   1,267 679
1,862   2,474 -612
1,611   1,127 484
1,617   292 1,325
1,706   206 1,500
2,093   1,053 1,040
1,242   318 924
731   351 380
1,698   582 1,116
21,470   22,400 -930
2,548   2,703 -155
14,943   15,317 -374
1,208   786 422
8,412   2,391 6,021
1,143   429 714
3,282   1,686 1,596
987   507 480
4,504   4,359 145
5,202   2,445 2,757
2,326   55 2,271
2,460   1,051 1,409
2,735   2,474 261
9,980   9,515 465
2,956   1,494 1,462
2,723   1,408 1,315
7,464   7,744 -280
15,000   15,406 -406
24,875   24,602 273
24,031   24,862 -831
5,721   1,327 4,394
30,000   29,974 26
3,093   3,537 -444
3,110   82 3,028
3,160   3,851 -691
2,387   1,653 734
9,910   9,555 355
1,908   1,521 387
1,685   641 1,044
2,786   837 1,949
1,341   702 639
10,001   9,092 909
2,432   2,041 391
2,392   566 1,826
1,454   704 750
2,475   2,452 23
25,000   25,203 -203
5,611   3,688 1,923
8,010   9,114 -1,104
1,431   1,030 401
10,136   9,965 171
1,703   1,344 359
1,341   702 639
19,387   20,107 -720
3,103   3,269 -166
2,697   2,837 -140
9,969   10,612 -643
10,011   11,071 -1,060
9,803   10,000 -197
197   207 -10
857   959 -102
9,137   10,000 -863
25,000   25,245 -245
14,935   16,868 -1,933
14,055   14,793 -738
      16,350
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -1,993
b       363
c       -151
d       -9
e       657
      613
      -250
      909
      -471
      691
      1,021
      224
      2,798
      900
      4,061
      4,305
      163
      1,530
      -1,159
      -223
      2,242
      790
      1,238
      2,894
      952
      1,495
      2,306
      1,224
      513
      811
      1,704
      3,443
      -637
      -113
      1,056
      1,534
      1,020
      1,082
      477
      725
      951
      392
      16
      3,350
      1,037
      204
      1,712
      983
      1,616
      847
      802
      2,408
      807
      1,062
      506
      866
      1,443
      1,686
      162
      1,053
      435
      2,698
      1,806
      2,147
      865
      2,345
      1,587
      485
      1,688
      1,357
      146
      2,024
      981
      220
      1,054
      303
      500
      1,679
      733
      549
      1,178
      825
      1,402
      2,978
      1,108
      2,811
      2,706
      -280
      1,407
      -172
      -911
      2,174
      599
      836
      755
      2,597
      -251
      1,004
      1,705
      -455
      1,367
      1,030
      656
      -311
      1,616
      4,070
      -1,120
      567
      290
      1,789
      955
      1,461
      721
      843
      -346
      3,397
      1,402
      1,117
      679
      -612
      484
      1,325
      1,500
      1,040
      924
      380
      1,116
      -930
      -155
      -374
      422
      6,021
      714
      1,596
      480
      145
      2,757
      2,271
      1,409
      261
      465
      1,462
      1,315
      -280
      -406
      273
      -831
      4,394
      26
      -444
      3,028
      -691
      734
      355
      387
      1,044
      1,949
      639
      909
      391
      1,826
      750
      23
      -203
      1,923
      -1,104
      401
      171
      359
      639
      -720
      -166
      -140
      -643
      -1,060
      -197
      -10
      -102
      -863
      -245
      -1,933
      -738
       
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 2 176,224
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 126,712 2,391,301 0.052989
2016 103,394 2,253,085 0.04589
2015 103,547 2,361,714 0.043844
2014 103,598 2,409,941 0.042988
2013 103,434 2,293,944 0.04509
2
Total of line 1, column (d) .....................
2
0.230801
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
0.04616
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
2,413,720
5
Multiply line 4 by line 3......................
5
111,417
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
2,012
7
Add lines 5 and 6........................
7
113,429
8
Enter qualifying distributions from Part XII, line 4,.............
8
103,626
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 4,023
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 4,023
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 4,023
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 1,405
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 1,405
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.......Bullet 9 2,618
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 taxBullet0 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMT
    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
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletUS BANK Telephone no.bullet (503) 464-3580

    Located atbullet555 SW OAKPORTLANDOR ZIP+4bullet97204
    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
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    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
    US BANK TRUSTEE
    1     		33,855    
    PO BOX 3168
    PORTLAND,OR97208
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    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.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (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
    2,386,130
    b
    Average of monthly cash balances.......................
    1b
    64,347
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,450,477
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    2,450,477
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    36,757
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,413,720
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    120,686
    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
    120,686
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    4,023
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,023
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    116,663
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    116,663
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    116,663
    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
    103,626
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    103,626
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    103,626
    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 7 116,663
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 0
    b From 2014...... 0
    c From 2015...... 0
    d From 2016...... 0
    e From 2017...... 3,068
    fTotal of lines 3a through e........ 3,068
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 103,626
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 103,626
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2018. 3,068 3,068
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		9,969
    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 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2014.... 0
    b Excess from 2015.... 0
    c Excess from 2016.... 0
    d Excess from 2017.... 0
    e Excess from 2018.... 0
    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 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 (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
    INTERNATIONAL PEACE
    SCHOLARSHIP OF PEO SISTERHOOD
    3700 GRAND AVE
    DES MOINES,IA50312     		NONE I SCHOLARSHIP 7,859
    ROCKY MOUNTAIN COLLEGE
    1511 POLY DRIVE
    BILLINGS,MT59102     		NONE PC GENERAL SUPPORT 7,859
    ST LUKES EPISCOPAL CHURCH
    119 N 33RD ST
    BILLINGS,MT591012018     		NONE PC GENERAL SUPPORT 24,560
    BIG HORN CNTY MEMORIAL HOSP
    ATTN JONI KUNKEL
    17 NORTH MILES AVE
    HARDIN,MT590342323     		NONE PC GENERAL SUPPORT 49,121
    YELLOWSTONE BOYS & GIRLS RANCH FDN
    2050 OVERLAND AVE
    BILLINGS,MT59102     		NONE PC GENERAL SUPPORT 8,842
    Total .................................bullet 3a 98,241
    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
    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 56,748  
    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 ............     		    18 176,224  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   232,972  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    232,972
    (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:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 2,000     2,000

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Name of Bond End of Year Book Value End of Year Fair Market Value
    670700400 NUVEEN PREFERRED SEC 16,823 15,359
    63872T620 LOOMIS SAYLES STRATE 61,146 58,585
    00206RCA8 ATT INC    
    13161T401 CALVERT SHORT DURATI 19,500 18,922
    14912L6B2 CATERPILLAR FINL MTN 25,026 24,910
    36163CYQ7 GE CAPITAL BANK C D    
    68381K606 OPPENHEIMER SENIOR F 61,254 58,014
    057071854 BAIRD AGGREGATE BOND 9,898 9,834
    464288687 ISHARES S P U S PRE    
    24422ESF7 JOHN DEERE MTN    
    670690387 NUVEEN INFLATION PRO 42,953 47,610
    74442J307 PRUDENTIAL SHORT DUR    
    674599CD5 OCCIDENTAL PETROLM    
    05531FAS2 BB T CORPORATION MTN 25,343 24,826
    464287176 ISHARES BARCLAYS TIP    
    58013MEQ3 MCDONALDS CORP MTN 24,898 24,887
    94974BFQ8 WELLS FARGO CO 25,134 24,993
    87234N765 TCW EMERGING MARKETS    
    31420B300 FEDERATED INST HI YL 24,560 22,319
    92343VCH5 VERIZON 25,341 24,907
    008117AP8 AETNA INC    
    172967KK6 CITIGROUP INC 25,133 24,629
    92343VCN2 VERIZON COMM INC 25,368 24,875
    670678622 NUVEEN CORE PLUS BON    
    06051GFD6 BANK OF AMERICA CORP 15,010 14,984
    949763WE2 WELLS FARGO BANK C D 25,000 24,994
    61747M5N7 MORGAN STANLEY C D 25,000 24,963
    949763SE7 WELLS FARGO BANK C D 25,000 24,961
    912828LY4 U S TREASURY NT 25,168 25,151
    912828MP2 U S TREASURY NT 10,108 10,109
    74442J406 PRUDENTIAL SHORT DUR 51,185 48,264
    72369L107 PIONEER ILS INTERVAL 12,000 11,917
    912828Y46 U S TREASURY NT 9,999 10,012
    912828KD1 U S TREASURY NT 45,262 45,019
    922020805 VANGUARD SHORT-TERM 45,032 44,422
    9128283Y4 U S TREASURY NT 24,857 24,900
    912828KQ2 U S TREASURY NT 25,084 25,056
    61690UBK5 MORGAN STANLEY C D 25,000 25,036
    U S TREASURY NT 3.625% 8 25,169 25,158

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Name of Stock End of Year Book Value End of Year Fair Market Value
    464288877 ISHARES MSCI EAFE VA 41,295 38,482
    125509109 CIGNA CORP    
    037833100 APPLE INC 1,239 35,807
    57636Q104 MASTERCARD INC 3,533 29,241
    74925K581 ROBECO BOSTON PARTNE 64,456 62,583
    46432F842 ISHARES CORE MSCI EA 79,849 81,345
    00206R102 ATT INC 6,016 5,052
    922908710 VANGUARD 500 INDEX A 18,159 19,338
    30303M102 FACEBOOK INC A 17,237 15,600
    02079K107 ALPHABET INC CL C 1,272 7,249
    580135101 MCDONALDS CORP 3,347 10,654
    713448108 PEPSICO INC 4,722 10,827
    060505104 BANK OF AMERICA CORP 4,851 12,936
    77956H849 T ROWE PRICE INTL GR    
    816851109 SEMPRA ENERGY    
    608190104 MOHAWK INDS INC CO    
    747525103 QUALCOMM INC    
    594918104 MICROSOFT CORP 5,816 41,136
    779556109 ROWE T PRICE MID-CAP 33,879 32,432
    149498107 CAUSEWAY EMERGING MA 51,085 49,357
    458140100 INTEL CORP 1,019 13,140
    741503403 THE PRICELINE GROUP    
    02079K305 ALPHABET INC CL A 3,840 21,944
    254687106 DISNEY WALT CO 3,391 12,610
    478160104 JOHNSON JOHNSON 7,619 20,390
    06828M876 BARON EMERGING MARKE 21,900 23,003
    56585A102 MARATHON PETROLEUM C 9,784 11,330
    19765N245 COLUMBIA FDS SER DIV 24,811 23,834
    09062X103 BIOGEN, INC 10,770 11,134
    806857108 SCHLUMBERGER LTD 5,409 5,592
    00287Y109 ABBVIE INC 4,406 16,594
    693475105 P N C FINANCIAL SERV 5,343 12,276
    742718109 PROCTER GAMBLE CO 5,986 12,409
    808513105 SCHWAB CHARLES CORP 8,374 12,916
    369604103 GENERAL ELECTRIC CO    
    77957Y106 T ROWE PRICE MID CAP 54,164 47,140
    315910620 FIDELITY INVT TR AD 22,116 22,086
    88579Y101 3M CO 3,024 9,527
    74005P104 PRAXAIR INC    
    G5960L103 MEDTRONIC PLC 14,300 17,282
    46625H100 J P MORGAN CHASE CO 8,087 21,965
    30231G102 EXXON MOBIL CORP 2,631 12,274
    00769G543 CAMBIAR INTL EQUITY 51,924 48,097
    670678507 NUVEEN REAL ESTATE S 25,986 44,172
    G1151C101 ACCENTURE PLC CL A 2,032 4,935
    26875P101 E O G RES INC    
    03027X100 AMERICAN TOWER CORP 13,079 18,508
    92343V104 VERIZON COMMUNICATIO 2,876 5,791
    741479109 PRICE T ROWE GROWTH 9,677 8,885
    913017109 UNITED TECHNOLOGIES 5,580 12,991
    717081103 PFIZER INC 9,133 17,678
    22160K105 COSTCO WHSL CORP 10,360 14,260
    855244109 STARBUCKS CORP 2,020 8,050
    548661107 LOWES CO INC 6,192 12,099
    126650100 CVS HEALTH CORPORATI    
    H1467J104 CHUBB LTD 7,585 12,530
    654106103 NIKE INC 3,136 10,973
    949746101 WELLS FARGO CO    
    172967424 CITIGROUP INC 5,519 7,705
    097023105 BOEING CO 5,623 14,513
    17275R102 CISCO SYSTEMS INC 5,991 12,609
    14149Y108 CARDINAL HEALTH INC    
    464287234 ISHARES MSCI EMERGIN 47,443 54,918
    863667101 STRYKER CORP    
    693506107 P P G INDS INC 6,792 6,747
    931142103 WAL MART STORES INC 6,844 11,644
    922908686 VANGUARD SMALL CAP I 47,000 42,235
    136385101 CANADIAN NATURAL RES    
    464288885 ISHARES MSCI EAFE GR    
    81762P102 SERVICENOW INC 4,149 7,478
    247361702 DELTA AIR LINES INC 12,013 12,425
    024835100 AMERICAN CAMPUS COMM    
    00888Y508 INV BALANCE RISK COM 10,000 8,760
    023135106 AMAZON.COM INC 26,346 34,545
    91324P102 UNITED HEALTH GROUP 16,620 19,930
    012653101 ALBEMARLE CORP 7,883 5,857
    922908645 VANGUARD MID-CAP IND 12,500 11,570
    440452100 HORMEL FOODS CORP 5,574 6,914
    14949P208 CAUSEWAY INTERNATL V 49,500 42,017
    412295107 HARDING LOEVNER INTL 32,500 27,255
    89353D107 TRANSCANADA CORP 10,013 8,604
    701877102 PARSLEY ENERGY INC-C 15,150 8,661
    09247X101 BLACKROCK INC 7,620 7,071
    755111507 RAYTHEON COMPANY 16,676 12,268
    70450Y103 PAYPAL HOLDINGS INC 7,702 7,484

    TY 2018 InvestmentsOtherSchedule2
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    47804M878 JOHN HANCOCK II GL A AT COST 16,489 15,831

    TY 2018 OtherAssetsSchedule
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME 772 1,192 1,192


    TY 2018 OtherDecreasesSchedule
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Description Amount
    PURCHASE OF ACCRUED INT 428
    COST BASIS ADJUSTMENT 68


    TY 2018 TaxesSchedule
    Name:
    GLADYS E KNOWLES CHARITABLE TRUST
    EIN:
    81-0423029
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 1,083 1,083   0
    FEDERAL ESTIMATES - PRINCIPAL 439 0   0
    FOREIGN TAXES ON NONQUALIFIED 124 124   0