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 08-01-2018 , and ending 07-31-2019
Name of foundation
LSB FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX E
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
REINBECK, IA506690159
A Employer identification number

20-1653464
B Telephone number (see instructions)

(319) 788-6441
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$57,117J 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) 225,812
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,398 1,398  
4 Dividends and interest from securities... 252 252  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -6
b Gross sales price for all assets on line 6a 12,031
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 227,456 1,650  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 2,500 1,250   1,250
c Other professional fees (attach schedule).... Click to see attachment 1,352 676   676
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment -68 -34   -34
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,784 1,892   1,892
25 Contributions, gifts, grants paid....... 235,244 235,244
26 Total expenses and disbursements. Add lines 24 and 25 239,028 1,892   237,136
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -11,572
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -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.............      
2 Savings and temporary cash investments......... 57,838 51,274 51,274
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,483 Click to see attachment4,475 5,843
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 67,321 55,749 57,117
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 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........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 67,321 55,749
30 Total net assets or fund balances (see instructions)..... 67,321 55,749
31 Total liabilities and net assets/fund balances (see instructions). 67,321 55,749
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
67,321
2
Enter amount from Part I, line 27a .....................
2
-11,572
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
55,749
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
55,749
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 DNP SELECT INCOME FD INC P    
b WELLS FARGO BANK NA P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 5,006   5,008 -2
b 7,025   7,029 -4
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -2
b       -4
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -6
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 221,477 74,001 2.992892
2016 206,601 72,018 2.868741
2015 166,590 54,064 3.081348
2014 286,073 76,053 3.761495
2013 125,104 124,681 1.003393
2
Total of line 1, column (d) .....................
2
13.707869
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
2.741574
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
66,495
5
Multiply line 4 by line 3......................
5
182,301
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
0
7
Add lines 5 and 6........................
7
182,301
8
Enter qualifying distributions from Part XII, line 4,.............
8
237,136
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 0
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 0
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 0
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 33
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 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 33
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 33
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet33 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)
    bulletIA
    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 addressbulletN/A
    14
    The books are in care ofbulletJIM THIELEN Telephone no.bullet (319) 233-1900

    Located atbullet242 TOWER PARK DRIVEWATERLOOIA ZIP+4bullet50701
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    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
     
     
    .........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
    MILT DAKOVICH TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    JEFFREY DRALLE TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    MICHAEL PETERSON TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    STEVE BROUWER TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    ERICK SKOVGARD TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    DAVID DEEDS TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    W SCOTT BUSH TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    DENNIS PRESNALL TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    SALLY HOLLIS TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    LINDA ALLEN TRUSTEE
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    TONY SCAVUZZU TRUSTEE (AS OF 1/2019)
    0.50     		0 0 0
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    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.........................bullet0
    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
    6,209
    b
    Average of monthly cash balances.......................
    1b
    61,299
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    67,508
    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
    67,508
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,013
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    66,495
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,325
    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
    3,325
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
     
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    0
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,325
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,325
    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
    3,325
    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
    237,136
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    237,136
    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
    237,136
    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 3,325
    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...... 118,870
    b From 2014...... 282,270
    c From 2015...... 163,887
    d From 2016...... 203,000
    e From 2017...... 217,777
    fTotal of lines 3a through e........ 985,804
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 237,136
    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..... 3,325
    e Remaining amount distributed out of corpus 233,811
    5 Excess distributions carryover applied to 2018. 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 1,219,615
    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 ..........     		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 2013 not
    applied on line 5 or line 7 (see instructions) ...     		118,870
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		1,100,745
    10 Analysis of line 9:
    a Excess from 2014.... 282,270
    b Excess from 2015.... 163,887
    c Excess from 2016.... 203,000
    d Excess from 2017.... 217,777
    e Excess from 2018.... 233,811
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JOAN RICE
    242 TOWER PARK DRIVE
    WATERLOO,IA50701
    (319) 233-1900
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS FOR GRANTS ARE AVAILABLE AT THE OFFICES OF LINCOLN SAVINGS BANK
    cAny submission deadlines:
    APPLICATIONS ARE REVIEWED AS RECEIVED ON A QUARTERLY BASIS. ALL TIMES ARE SPECIFIED ON THE GRANT.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRANTS ARE MADE ONLY TO TAX QUALIFIED ORGANIZATIONS WITH IN THE GEOGRAPHIC MARKETS SERVED BY LINCOLN SAVINGS BANK
    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
    ADM SCHOLARSHIP FOUNDATION
    215 NORTH 11TH STREET
    ADEL,IA50003     		NONE PC GENERAL OPERATING 1,000
    ALLEN FOUNDATION
    1825 LOGAN AVENUE
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 5,370
    ALLEN HEALTH FOUNDATION
    1825 LOGAN AVENUE
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 170
    ALLISON LITTLE LAMBS
    721 CHERRY STREET
    ALLISON,IA50602     		NONE PC GENERAL OPERATING 2,500
    ALTERNATIVES PREGNANCY CENTER
    1006 DECATHLON DR
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 1,000
    AMERICAN CANCER SOCIETY
    225 N MICHIGAN AVE 1210
    CHICAGO,IL60601     		NONE PC GENERAL OPERATING 700
    AMERICAN HEART ASSOCIATION
    1035 N CENTER PT RD STE B
    HIAWATHA,IA52233     		NONE PC GENERAL OPERATING 108
    AMERICAN RED CROSS
    6300 ROCKWELL DR NE
    CEDAR RAPIDS,IA52402     		NONE PC GENERAL OPERATING 330
    AMVETS DEPARTMENT OF IOWA POST 10
    1934 IRVING ST
    CEDAR FALLS,IA50613     		NONE GOV GENERAL OPERATING 1,000
    ANKENY COMMUNITY FOUNDATION
    410 W 1ST ST
    ANKENY,IA500231557     		NONE PC GENERAL OPERATING 4,000
    ANKENY DOLLARS FOR SCHOLARS
    406 SW SCHOOL STREET
    ANKENY,IA50023     		NONE PC DOLLARS FOR SCHOLARS 1,000
    ANKENY KIWANIS CLUB FOUNDATION
    504 W 1ST ST
    ANKENY,IA50023     		NONE PC GENERAL OPERATING 1,000
    APLINGTON-PARKERSBURG DOLLARS FOR SCHOLARS
    PO BOX 669
    PARKERSBURG,IA50665     		NONE PC DOLLARS FOR SCHOLARS 1,000
    ASPIRE THERAPEUTIC RIDING PROGRAM
    8100 KIMBALL AVE
    WATERLOO,IA50702     		NONE PC GENERAL OPERATING 740
    BEL CANTO CEDAR VALLEY
    3117 GREENHILL CIRCLE
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 2,000
    BEST BUDDIES IOWA
    7518 HICKMAN RD
    WINDSOR HEIGHTS,IA50324     		NONE PC GENERAL OPERATING 1,000
    BEYOND PINK
    1753 W RIDGEWAY AVE
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 100
    BIG BROTHERS BIG SISTERS OF CENTRAL IOWA
    9051 SWANSON BLVD
    CLIVE,IA50325     		NONE PC GENERAL OPERATING 480
    BIG BROTHERS BIG SISTERS OF NORTHEAST IOWA
    2530 UNIVERSITY AVE STE 8
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 2,346
    BIT TO BYTE STEM HUB
    1805 COLLABORATION PLACE
    AMES,IA50010     		NONE PC GENERAL OPERATING 1,000
    BLACK HAWK COUNTY SHERIFF'S OFFICE
    225 E 6TH STREET
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 2,000
    BLUE LIPS FOUNDATION
    3201 163RD ST
    URBANDALE,IA50323     		NONE PC GENERAL OPERATING 200
    BOYS & GIRLS CLUB OF CEDAR VALLEY
    515 LIME ST
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 5,200
    BOYS & GIRLS CLUB OF CENTRAL IOWA
    1421 WALKER ST
    DES MOINES,IA50316     		NONE PC GENERAL OPERATING 5,000
    CAMP HERTKO HOLLOW
    501 GRAND AVENUE
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 1,000
    CATHOLIC CHARITIES
    420 6TH STREET SE
    CEDAR RAPIDS,IA52401     		NONE PC GENERAL OPERATING 250
    CEDAR BEND HUMANE SOCIETY INC
    1166 W AIRLINE HWY
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 7,183
    CEDAR FALLS COMMUNITY SCHOOLS FOUNDATION
    602 MAIN STREET
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 2,956
    CEDAR VALLEY CANCER COMMITTEE
    1753 W RIDGEWAY AVE
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 3,000
    CEDAR VALLEY HOSPICE
    2101 KIMBALL AVE STE 401
    WATERLOO,IA50702     		NONE PC GENERAL OPERATING 1,452
    CEDAR VALLEY UNITED WAY
    425 CEDAR ST STE 300
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 252
    CHILDREN AND FAMILIES OF IOWA
    1111 UNIVERSITY AVE
    DES MOINES,IA50314     		NONE PC GENERAL OPERATING 2,000
    CITY OF GARWIN
    208 MAIN STREET
    GARWIN,IA50632     		NONE GOV GENERAL OPERATING 5,000
    CITY OF NASHUA
    402 MAIN STREET
    NASHUA,IA50658     		NONE GOV GENERAL OPERATING 2,500
    CITY OF TAMA
    305 SIEGEL STREET
    TAMA,IA52339     		NONE GOV GENERAL OPERATING 3,000
    COMMUNITY FOUNDATION OF NORTHEAST IOWA
    425 CEDAR ST STE 310
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 7,000
    CONSUMER CREDIT COUNSELING SERVICES OF NEIA
    1003 W 4TH ST
    WATERLOO,IA50702     		NONE PC GENERAL OPERATING 1,125
    COURAGE LEAGUE SPORTS
    4405 121ST ST
    URBANDALE,IA50323     		NONE PC GENERAL OPERATING 2,500
    CRAYON CORNER LEARNING CENTER
    409 WASHINGTON STREET
    GLADBROOK,IA50635     		NONE PC GENERAL OPERATING 500
    DALLAS COUNTY CONSERVATION BOARD
    14851 K AVE
    PERRY,IA50220     		NONE PC GENERAL OPERATING 1,000
    DES MOINES ARE RELIGIOUS COUNCIL
    1435 MULBERRY ST
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 2,500
    DIAMONDS AND FIELDS
    605 TUVE AVENUE
    PARKERSBURG,IA50665     		NONE PC GENERAL OPERATING 5,000
    DO BETTER BE BETTER
    185 FAIRWAY DR
    DIKE,IA50624     		NONE PC GENERAL OPERATING 700
    EASTER SEALS
    2920 30TH ST
    DES MOINES,IA50310     		NONE PC GENERAL OPERATING 280
    EVERYBODY WINS IOWA
    901 WALNUT ST 640
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 2,000
    FATHER BRUNKAN CHARITY FUND ST MARY PARISH
    ST MARY CATHOLIC CHURCH PO BOX 480
    GREENE,IA506360480     		NONE PC GENERAL OPERATING 75
    FIRST ROBOTICS COMPETITION IOWA
    214 EAST BARTLETT HALL
    CEDAR FALLS,IA50614     		NONE PC GENERAL OPERATING 2,500
    FRIENDS OF THE FAMILY
    5250 N PARK PL NE 105
    CEDAR RAPIDS,IA52402     		NONE PC GENERAL OPERATING 1,000
    FRIENDS OF THE IOWA VETERANS CEMETERY
    34024 VETERANS MEMORIAL DR
    ADEL,IA50003     		NONE PC GENERAL OPERATING 1,500
    FRIENDS OF THE LIBRARY
    450 5TH AVENUE SE
    CEDAR RAPIDS,IA52401     		NONE PC GENERAL OPERATING 25
    FRIENDS OF THE TERRAIN THERAPY GARDEN PROJECT
    5870 FAIRWAY COURT
    WEST DES MOINES,IA50266     		NONE PC GENERAL OPERATING 1,000
    GIRL SCOUTS OF GREATER IOWA
    10715 HICKMAN RD
    URBANDALE,IA50322     		NONE PC GENERAL OPERATING 115
    GLADBROOK-REINBECK DOLLARS FOR SCHOLARS
    300 CEDAR ST
    REINBECK,IA50669     		NONE PC DOLLARS FOR SCHOLARS 2,000
    GMG FOUNDATION
    306 PARK ST
    GARWIN,IA50632     		NONE PC GENERAL OPERATING 1,000
    GRANDVIEW CHRISTIAN SCHOOL
    2905 NE 46TH AVE
    DES MOINES,IA50317     		NONE GOV GENERAL OPERATING 3,000
    GREATER CEDAR VALLEY ALLIANCE FOUNDATION
    RIVER PLAZA BUILDING 10 W 4TH ST
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 5,000
    GREATER DES MOINES HABITAT FOR HUMANITY
    2200 E EUCLID AVE
    DES MOINES,IA50317     		NONE PC GENERAL OPERATING 2,500
    GREENE FIREFIGHTERS ASSN
    213 N 2ND ST
    GREENE,IA50636     		NONE GOV GENERAL OPERATING 30
    GREENE IOWA AREA CHAMBER
    220 NORTH CHESTNUT
    JEFFERSON,IA50129     		NONE GOV GENERAL OPERATING 40
    GREENE VOLUNTEER AMBULANCE SERVICE
    213 N 2ND ST
    GREENE,IA50636     		NONE GOV GENERAL OPERATINGGENERAL OPERATING 30
    GRIN & GROW LTD
    1407 INDEPENDENCE AVE
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 2,500
    GRINNELL NEWBURG DOLLARS FOR SCHOLARS
    PO BOX 344
    GRINNELL,IA50112     		NONE PC DOLLARS FOR SCHOLARS 3,500
    GRINNELL TIGERS BOOSTER CLUB
    1333 SUNSET ST
    GRINNELL,IA50112     		NONE PC GENERAL OPERATING 4,000
    GRUNDY CENTER HIGH SCHOOL
    1301 12TH ST
    GRUNDY CENTER,IA50638     		NONE GOV GENERAL OPERATING 1,200
    GRUNDY CO MEMORIAL HOSPITAL
    201 E J AVE
    GRUNDY CENTER,IA50638     		NONE PC GENERAL OPERATING 3,000
    HARTMAN RESERVE NATURE CENTER
    657 RESERVE DR
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 216
    HAWKEYE COMMUNITY COLLEGE FOUNDATION
    1501 EAST ORANGE ROAD PO BOX 8015
    WATERLOO,IA50704     		NONE PC GENERAL OPERATING 8,000
    HEART OF IOWA BIG BROTHERS BIG SISTERS
    31 S 1ST STREET
    MARSHALLTOWN,IA50158     		NONE PC GENERAL OPERATING 2,500
    HUDSON COMMUNITY SCHOOL DISTRICT
    136 S WASHINGTON ST
    HUDSON,IA50643     		NONE GOV GENERAL OPERATING 1,500
    HUDSON EDUCATION FUND
    245 S WASHINGTON
    HUDSON,IA50643     		NONE PC GENERAL OPERATING 1,200
    HUSOME STRONG FOUNDATION
    4909 QUESADA AVE
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 1,000
    IOWA COLLEGE FOUNDATION
    505 5TH AVE 1034
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 1,000
    IOWA STATE UNIVERSITY
    2505 UNIVERSITY BLVD PO BOX 2230
    AMES,IA50010     		NONE PC SCHOLARSHIP 1,000
    JESUP SCHOOLS
    531 PROSPECT ST
    JESUP,IA50648     		NONE GOV GET BACK ON THE TRACK CAMPAIGN 105
    JUNIOR ACHIEVEMENT OF EASTERN IOWA INC
    425 CEDAR ST STE 300
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 3,541
    JUVENILE DIABETES RESEARCH FOUNDATION
    1026 A AVE NE
    CEDAR RAPIDS,IA52402     		NONE PC GENERAL OPERATING 88
    KIDQUEST DAYCARE
    427 NASH ST
    APLINGTON,IA50604     		NONE PC GENERAL OPERATING 1,600
    KNOX BLOCKS FOUNDATION
    1002 BISHOP AVE
    LA PORTE CITY,IA50651     		NONE PC GENERAL OPERATING 500
    KOATS 4 KIDS
    PO BOX 1253 425 CEDAR STREET SUITE
    320
    WATERLOO,IA50704     		NONE PC GENERAL OPERATING 500
    LOVE INC OF THE CEDAR VALLEY
    4807 UNIVERSITY AVE SUITE 202
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 2,500
    LUTHERAN SERVICES IN IOWA INC
    904 W 4TH ST
    WATERLOO,IA50702     		NONE PC GENERAL OPERATING 1,000
    MAGICAL MIX KIDS
    721 SHIRLEY STREET
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 240
    MAIN STREET ADEL CHAMBER OF COMMERCE
    301 S 10TH STREET
    ADEL,IA50003     		NONE PC GENERAL OPERATING 5,000
    MEALS FROM THE HEARTLAND
    357 LINCOLN ST
    WEST DES MOINES,IA50265     		NONE PC GENERAL OPERATING 2,500
    NASHUA COMMUNITY FOUNDATION
    612 GREELEY ST
    NASHUA,IA50658     		NONE GOV GENERAL OPERATING 1,000
    NORTH BUTLER HIGH SCHOOL
    201 NORTH 5TH STREET
    GREENE,IA50636     		NONE GOV SCHOLARSHIP FUND 2,000
    NORTHEAST IOWA FOOD BANK
    106 E 11TH ST
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 1,434
    OPERATING THRESHOLD
    1535 LAFAYETTE STREET
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 110
    PEO INTERNATIONAL CHAPTER CC
    3700 GRAND AVENUE
    DES MOINES,IA50312     		NONE PC GENERAL OPERATING 50
    PANTHER SCHOLARSHIP FUND
    1227 W 27TH ST
    CEDAR FALLS,IA50614     		NONE PC GENERAL OPERATING 1,400
    PIED PIPER PRESCHOOL
    1108 S MAIN STREET
    TRAER,IA50675     		NONE PC GENERAL OPERATING 300
    POLK COUNTY HOUSING TRUST FUND
    108 3RD ST 350
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 1,500
    REINBECK COMMUNITY DEVELOPMENT
    414 MAIN STREET
    REINBECK,IA50669     		NONE PC GENERAL OPERATING 3,000
    REINBECK DAYCARE
    120 CEDAR STREET
    REINBECK,IA50669     		NONE PC GENERAL OPERATING 3,000
    REINBECK FIRE DEPARTMENT
    208 BROAD STREET
    REINBECK,IA50669     		NONE GOV GENERAL OPERATING 4,000
    RETRIEVING FREEDOM
    1152 230TH ST
    WAVERLY,IA50677     		NONE PC GENERAL OPERATING 940
    RIVER HILLS SCHOOL
    2700 GRAND BLVD
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 1,000
    ROBERT D AND BILLIE RAY CENTER
    2702 FOREST AVE
    DES MOINES,IA50311     		NONE PC GENERAL OPERATING 5,000
    SALVATION ARMY OF WATERLOOCEDAR FALLS
    218 LOGAN AVE
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 2,360
    SILOS & SMOKESTACKS NATIONAL HERITAGE AREA
    604 LAFAYETTE ST 202
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 2,500
    SINGLE PARENT PROVISION
    2041 GRAND AVE D
    WEST DES MOINES,IA50265     		NONE PC GENERAL OPERATING 1,500
    SOUTH TAMA HIGH SCHOOL
    1715 HARDING ST
    TAMA,IA52339     		NONE GOV DOLLARS FOR SCHOLARS 1,000
    SOUTH TAMA MUSIC BOOSTERS
    1715 HARDING ST
    TAMA,IA52339     		NONE PC GENERAL OPERATING 1,000
    SPREAD THE CARE
    PO BOX 82
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 3,000
    ST TIMOTHY LUTHERAN PRESCHOOL
    1 THELMA STREET
    HUDSON,IA50643     		NONE PC GENERAL OPERATING 2,500
    ST FRANCIS MANOR
    2021 4TH AVE
    GRINNELL,IA50112     		NONE PC GENERAL OPERATING 1,000
    STATE UNIVERSITY OF IOWA FOUNDATION
    ONE WEST PARK ROAD
    IOWA CITY,IA52242     		NONE PC GENERAL OPERATING 10,000
    TOLEDO COMMUNITY THEATRE GUILD
    S CHURCH ST
    TOLDEDO,IA52342     		NONE PC GENERAL OPERATING 2,000
    UNITYPOINT HEALTH ALLEN
    1825 LOGAN AVENUE
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 1,000
    UNIVERSITY OF IOWA FOUNDATION
    ONE WEST PARK ROAD
    IOWA CITY,IA52242     		NONE PC GENERAL OPERATING 3,400
    VOLUNTEER CENTER OF CEDAR VALLEY
    2101 KIMBALL AVE STE 136
    WATERLOO,IA50702     		NONE PC GENERAL OPERATING 3,000
    WARTBUG COLLEGE
    100 WARTBURG BLVD
    WAVERLY,IA50677     		NONE PC GENERAL OPERATING 3,000
    WATERLOO LEISURE SERVICES
    1101 CAMPBELL AVE
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 1,500
    WATERLOO SCHOOLS FOUNDATION
    201 TOWER PARK DR
    WATERLOO,IA50701     		NONE PC GENERAL OPERATING 3,000
    WATERLOO VISITING NURSES
    2530 UNIVERSITY AVE
    WATERLOO,FL50701     		NONE PC GENERAL OPERATING 360
    WATERLOO-CEDAR FALLS SYMPHONY
    GALLAGHER BLUEDORN PAC
    CEDAR FALLS,IA50613     		NONE PC GENERAL OPERATING 980
    WAUKEE SCHOOLS FOUNDATION
    560 SE UNIVERSITY AVE
    WAUKEE,IA50263     		NONE PC GENERAL OPERATING 1,000
    WILDWOOD HILLS RANCH
    2552 UNION LN
    ST CHARLES,IA50240     		NONE PC GENERAL OPERATING 2,000
    WINNEBAGO COUNCIL BOY SCOUTS
    2929 AIRPORT BLVD
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 500
    WOUNDED WARRIOR PROJECT
    PO BOX 758517
    TOPEKA,KS66675     		NONE PC GENERAL OPERATING 1,810
    YOUTH EMERGENCY SERVICES & SHELTER
    918 SE 11TH STREET
    DES MOINES,IA50309     		NONE PC GENERAL OPERATING 1,000
    YWCA OF BLACK HAWK COUNTY
    425 LAFAYETTE ST
    WATERLOO,IA50703     		NONE PC GENERAL OPERATING 2,653
    Total .................................bullet 3a 235,244
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		    14 1,398  
    4 Dividends and interest from securities....     14 252  
    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 -6  
    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).. 0 1,644 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,644
    (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.)
    8 REPORTING GAIN/LOSS OF ABBEY NATIONAL TREAS SERV & DNP SELECT INC FUND
    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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    LSB FOUNDATION
     
    Employer identification number

    20-1653464
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    LSB FOUNDATION
          		Employer identification number
    20-1653464
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    LINCOLN SAVINGS BANK
     
    508 MAIN ST
     
    REINBECK, IA50669

    		$ 176,662


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    CEDAR VALLEY AIR SERVICE IMPROVEMENT FUND
     
    3117 GREENHILL CIRCLE
     
    CEDAR FALLS, IA50613

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    LSB FOUNDATION
          		Employer identification number

    20-1653464
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    LSB FOUNDATION
          		Employer identification number

    20-1653464
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    LSB FOUNDATION
    EIN:
    20-1653464
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 2,500 1,250   1,250

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    LSB FOUNDATION
    EIN:
    20-1653464
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCK 4,475 5,843

    TY 2018 OtherExpensesSchedule
    Name:
    LSB FOUNDATION
    EIN:
    20-1653464
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISCELLANEOUS EXPENSE -68 -34   -34


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    LSB FOUNDATION
    EIN:
    20-1653464
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FIDUCIARY FEES 1,352 676   676