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
2019
Open to Public Inspection
For calendar year 2019, or tax year beginning 01-01-2019 , and ending 12-31-2019
Name of foundation
GLADYS & ARNOLD LUECK SCHOLARSHIP FUND 005355
 
Number and street (or P.O. box number if mail is not delivered to street address)100 NORTH MINNESOTA STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW ULM, MN56073
A Employer identification number

41-2010569
B Telephone number (see instructions)

(507) 233-4800
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$54,982J 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... 1,469 1,469  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,619
b Gross sales price for all assets on line 6a 52,544
7 Capital gain net income (from Part IV, line 2)... 4,619
8 Net short-term capital gain......... 98
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 120    
12 Total. Add lines 1 through 11........ 6,208 6,088 98
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 544 272    
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 725 700 0 25
c Other professional fees (attach schedule).... Click to see attachment 544 544   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 139     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.......... 1,952 1,516 0 25
25 Contributions, gifts, grants paid....... 3,500 3,500
26 Total expenses and disbursements. Add lines 24 and 25 5,452 1,516 0 3,525
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 756
b Net investment income (if negative, enter -0-) 4,572
c Adjusted net income (if negative, enter -0-)... 98
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2019)
Form 990-PF (2019)
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.........   2,437 2,437
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).......      
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).......... 52,223 Click to see attachment50,532 52,545
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) 52,223 52,969 54,982
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 FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 52,223 52,969
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 52,223 52,969
30 Total liabilities and net assets/fund balances (see instructions). 52,223 52,969
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
52,223
2
Enter amount from Part I, line 27a .....................
2
756
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
54
4
Add lines 1, 2, and 3 ..........................
4
53,033
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
64
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
52,969
Form 990-PF (2019)
Form 990-PF (2019)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 31.194 DELAWARE CORPORATE BOND CL I   2018-02-23 2019-03-07
b 13.44 FEDERATED GOVERNMENT INCOME TRUST FD #36   2012-03-21 2019-03-07
c 7.719 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2010-04-16 2019-03-07
d 4.753 FEDERATED US GOVT 1-3 YRS #9   2002-07-29 2019-03-07
e 2.929 FEDERATED US GOVT 1-3 YRS #9   2003-06-24 2019-03-07
4.099 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-06-24 2019-03-07
.885 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-09-24 2019-03-07
10.426 TEMPLETON GLOBAL BOND ADVISOR CLASS   2014-07-02 2019-03-07
12.991 VANGUARD GNMA FUND   2015-12-17 2019-03-07
.016 VANGUARD 500 INDEX FUND   2011-02-09 2019-03-07
.022 VANGUARD VALUE INDEX FUND   2008-07-21 2019-03-07
61.127 DELAWARE CORPORATE BOND CL I   2018-02-23 2019-09-25
.405 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-09-24 2019-09-25
1.451 FIDELITY ADVISOR SMALL CAP   2010-12-10 2019-09-25
3.354 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2011-02-09 2019-09-25
.78 VANGUARD VALUE INDEX ADM   2008-07-21 2019-09-25
.888 VANGUARD 500 INDEX - ADM   2011-02-09 2019-09-25
3.093 COLUMBIA SMALL CAP INDEX FUND INST'L   2017-06-27 2019-10-07
38.484 DELAWARE CORPORATE BOND CL I   2018-02-23 2019-10-07
12.327 FEDERATED GOVERNMENT INCOME TRUST FD #36   2012-03-21 2019-10-07
14.581 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2010-04-16 2019-10-07
3.548 FEDERATED MID-CAP INDEX #151   2011-02-09 2019-10-07
8.775 FEDERATED US GOVT 1-3 YRS #9   2003-06-24 2019-10-07
4.926 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-09-24 2019-10-07
.652 FIDELITY ADVISOR SMALL CAP   2010-12-10 2019-10-07
.896 FIDELITY ADVISOR SMALL CAP   2011-01-10 2019-10-07
2.733 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2011-02-09 2019-10-07
1.967 ROYCE SPECIAL EQUITY INVMT   2011-02-09 2019-10-07
10.11 TEMPLETON GLOBAL BOND ADVISOR CLASS   2014-07-02 2019-10-07
3.844 VANGUARD TOTAL INT'L STOCK INDEX ADMIRALCL   2011-02-09 2019-10-07
1.851 VANGUARD INTERNATIONAL GROWTH   2011-02-09 2019-10-07
1.503 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2011-02-09 2019-10-07
3.237 VANGUARD INTERNATIONAL EXPLORER   2011-02-09 2019-10-07
13.625 VANGUARD GNMA FUND   2015-12-17 2019-10-07
2.037 VANGUARD VALUE INDEX ADM   2008-07-21 2019-10-07
.642 VANGUARD 500 INDEX - ADM   2011-02-09 2019-10-07
69.292 COLUMBIA SMALL CAP INDEX FUND INST'L   2017-06-27 2019-10-11
4.854 COLUMBIA SMALL CAP INDEX FUND INST'L   2017-12-11 2019-10-11
.19 COLUMBIA SMALL CAP INDEX FUND INST'L   2017-12-11 2019-10-11
1.4 COLUMBIA SMALL CAP INDEX FUND INST'L   2018-06-19 2019-10-11
.076 COLUMBIA SMALL CAP INDEX FUND INST'L   2018-06-19 2019-10-11
5.863 COLUMBIA SMALL CAP INDEX FUND INST'L   2018-12-11 2019-10-11
.085 COLUMBIA SMALL CAP INDEX FUND INST'L   2018-12-11 2019-10-11
9.156 COLUMBIA SMALL CAP INDEX FUND INST'L   2019-03-07 2019-10-11
2.233 COLUMBIA SMALL CAP INDEX FUND INST'L   2019-06-21 2019-10-11
1.909 COLUMBIA SMALL CAP INDEX FUND INST'L   2019-09-25 2019-10-11
1173.158 DELAWARE CORPORATE BOND CL I   2018-02-23 2019-10-11
10.773 FEDERATED GOVERNMENT INCOME TRUST FD #36   2012-03-21 2019-10-11
40.439 FEDERATED GOVERNMENT INCOME TRUST FD #36   2012-03-21 2019-10-11
100.908 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-03-08 2019-10-11
89.741 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-03-08 2019-10-11
5.58 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-06-25 2019-10-11
12.201 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-06-25 2019-10-11
8.998 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-09-24 2019-10-11
10.387 FEDERATED GOVERNMENT INCOME TRUST FD #36   2013-09-24 2019-10-11
13.833 FEDERATED GOVERNMENT INCOME TRUST FD #36   2014-01-16 2019-10-11
15.176 FEDERATED GOVERNMENT INCOME TRUST FD #36   2014-01-16 2019-10-11
10.323 FEDERATED GOVERNMENT INCOME TRUST FD #36   2014-07-02 2019-10-11
8.682 FEDERATED GOVERNMENT INCOME TRUST FD #36   2014-07-02 2019-10-11
30.064 FEDERATED GOVERNMENT INCOME TRUST FD #36   2017-06-27 2019-10-11
18.048 FEDERATED GOVERNMENT INCOME TRUST FD #36   2018-02-23 2019-10-11
.081 FEDERATED GOVERNMENT INCOME TRUST FD #36   2019-09-25 2019-10-11
155.989 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2010-04-16 2019-10-11
.614 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2010-12-09 2019-10-11
1.953 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2010-12-09 2019-10-11
104.653 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2011-02-09 2019-10-11
3.786 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2011-12-06 2019-10-11
.743 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2011-12-06 2019-10-11
.202 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2012-03-21 2019-10-11
.9 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2012-12-06 2019-10-11
.014 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2012-12-06 2019-10-11
92.464 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2013-03-08 2019-10-11
7.595 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2013-06-25 2019-10-11
6.079 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2013-09-24 2019-10-11
.865 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2013-12-09 2019-10-11
.218 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2013-12-09 2019-10-11
5.433 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2014-01-16 2019-10-11
9.846 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2014-07-02 2019-10-11
1.194 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2014-12-08 2019-10-11
.071 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2014-12-08 2019-10-11
32.674 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2015-12-17 2019-10-11
15.288 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2018-02-23 2019-10-11
4.413 FEDERATED INSTITUTIONAL HIGH YIELD BOND   2019-09-25 2019-10-11
2.906 FEDERATED MID-CAP INDEX #151   2011-02-09 2019-10-11
8.947 FEDERATED MID-CAP INDEX #151   2011-10-05 2019-10-11
4.682 FEDERATED MID-CAP INDEX #151   2011-12-07 2019-10-11
2.113 FEDERATED MID-CAP INDEX #151   2012-12-07 2019-10-11
.249 FEDERATED MID-CAP INDEX #151   2012-12-07 2019-10-11
9.384 FEDERATED MID-CAP INDEX #151   2013-03-08 2019-10-11
4.114 FEDERATED MID-CAP INDEX #151   2013-07-01 2019-10-11
1.074 FEDERATED MID-CAP INDEX #151   2013-07-01 2019-10-11
2.55 FEDERATED MID-CAP INDEX #151   2013-12-10 2019-10-11
.244 FEDERATED MID-CAP INDEX #151   2013-12-10 2019-10-11
7.899 FEDERATED MID-CAP INDEX #151   2014-12-09 2019-10-11
.732 FEDERATED MID-CAP INDEX #151   2014-12-09 2019-10-11
12.297 FEDERATED MID-CAP INDEX #151   2015-12-08 2019-10-11
9.857 FEDERATED MID-CAP INDEX #151   2016-12-08 2019-10-11
13.839 FEDERATED MID-CAP INDEX #151   2017-12-07 2019-10-11
.933 FEDERATED MID-CAP INDEX #151   2017-12-07 2019-10-11
18.355 FEDERATED MID-CAP INDEX #151   2018-12-10 2019-10-11
.974 FEDERATED MID-CAP INDEX #151   2018-12-10 2019-10-11
5.778 FEDERATED MID-CAP INDEX #151   2019-03-07 2019-10-11
.63 FEDERATED MID-CAP INDEX #151   2019-09-25 2019-10-11
3.241 FEDERATED US GOVT 1-3 YRS #9   2003-06-24 2019-10-11
6.5 FEDERATED US GOVT 1-3 YRS #9   2003-09-24 2019-10-11
9.116 FEDERATED US GOVT 1-3 YRS #9   2003-12-22 2019-10-11
4.426 FEDERATED US GOVT 1-3 YRS #9   2004-06-22 2019-10-11
10.085 FEDERATED US GOVT 1-3 YRS #9   2004-12-21 2019-10-11
.762 FEDERATED US GOVT 1-3 YRS #9   2005-09-21 2019-10-11
5.278 FEDERATED US GOVT 1-3 YRS #9   2005-12-21 2019-10-11
6.16 FEDERATED US GOVT 1-3 YRS #9   2007-04-24 2019-10-11
2.208 FEDERATED US GOVT 1-3 YRS #9   2010-04-16 2019-10-11
.098 FEDERATED US GOVT 1-3 YRS #9   2010-06-14 2019-10-11
69.669 FEDERATED US GOVT 1-3 YRS #9   2011-02-09 2019-10-11
1.269 FEDERATED US GOVT 1-3 YRS #9   2011-06-10 2019-10-11
1.32 FEDERATED US GOVT 1-3 YRS #9   2011-12-15 2019-10-11
.094 FEDERATED US GOVT 1-3 YRS #9   2011-12-15 2019-10-11
23.389 FEDERATED US GOVT 1-3 YRS #9   2012-03-21 2019-10-11
2.178 FEDERATED US GOVT 1-3 YRS #9   2012-06-08 2019-10-11
59.424 FEDERATED US GOVT 1-3 YRS #9   2013-03-08 2019-10-11
9.184 FEDERATED US GOVT 1-3 YRS #9   2013-09-24 2019-10-11
8.09 FEDERATED US GOVT 1-3 YRS #9   2014-01-16 2019-10-11
11.423 FEDERATED US GOVT 1-3 YRS #9   2014-07-02 2019-10-11
21.194 FEDERATED US GOVT 1-3 YRS #9   2017-06-27 2019-10-11
6.895 FEDERATED US GOVT 1-3 YRS #9   2018-02-23 2019-10-11
4.979 FEDERATED US GOVT 1-3 YRS #9   2019-09-25 2019-10-11
.083 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-09-24 2019-10-11
5.811 FEDERATED US GOVERNMENT 2-5 YRS #47   2003-12-22 2019-10-11
6.05 FEDERATED US GOVERNMENT 2-5 YRS #47   2004-06-22 2019-10-11
6.979 FEDERATED US GOVERNMENT 2-5 YRS #47   2004-12-21 2019-10-11
1.8 FEDERATED US GOVERNMENT 2-5 YRS #47   2005-09-21 2019-10-11
4.018 FEDERATED US GOVERNMENT 2-5 YRS #47   2005-12-21 2019-10-11
3.477 FEDERATED US GOVERNMENT 2-5 YRS #47   2007-04-24 2019-10-11
.184 FEDERATED US GOVERNMENT 2-5 YRS #47   2007-08-07 2019-10-11
1.007 FEDERATED US GOVERNMENT 2-5 YRS #47   2009-12-18 2019-10-11
.145 FEDERATED US GOVERNMENT 2-5 YRS #47   2010-06-10 2019-10-11
.766 FEDERATED US GOVERNMENT 2-5 YRS #47   2010-06-10 2019-10-11
.723 FEDERATED US GOVERNMENT 2-5 YRS #47   2010-12-17 2019-10-11
.729 FEDERATED US GOVERNMENT 2-5 YRS #47   2010-12-17 2019-10-11
28.079 FEDERATED US GOVERNMENT 2-5 YRS #47   2011-02-09 2019-10-11
.615 FEDERATED US GOVERNMENT 2-5 YRS #47   2011-06-09 2019-10-11
.702 FEDERATED US GOVERNMENT 2-5 YRS #47   2011-12-15 2019-10-11
3.464 FEDERATED US GOVERNMENT 2-5 YRS #47   2011-12-15 2019-10-11
13.941 FEDERATED US GOVERNMENT 2-5 YRS #47   2012-03-21 2019-10-11
.482 FEDERATED US GOVERNMENT 2-5 YRS #47   2012-06-08 2019-10-11
.426 FEDERATED US GOVERNMENT 2-5 YRS #47   2012-06-08 2019-10-11
.875 FEDERATED US GOVERNMENT 2-5 YRS #47   2012-12-17 2019-10-11
33.795 FEDERATED US GOVERNMENT 2-5 YRS #47   2013-03-08 2019-10-11
1.126 FEDERATED US GOVERNMENT 2-5 YRS #47   2013-06-07 2019-10-11
.214 FEDERATED US GOVERNMENT 2-5 YRS #47   2013-06-07 2019-10-11
.693 FEDERATED US GOVERNMENT 2-5 YRS #47   2013-06-25 2019-10-11
5.276 FEDERATED US GOVERNMENT 2-5 YRS #47   2013-09-24 2019-10-11
5.125 FEDERATED US GOVERNMENT 2-5 YRS #47   2014-01-16 2019-10-11
5.397 FEDERATED US GOVERNMENT 2-5 YRS #47   2014-07-02 2019-10-11
11.436 FEDERATED US GOVERNMENT 2-5 YRS #47   2017-06-27 2019-10-11
6.395 FEDERATED US GOVERNMENT 2-5 YRS #47   2018-02-23 2019-10-11
1.273 FIDELITY ADVISOR SMALL CAP   2011-01-10 2019-10-11
3.169 FIDELITY ADVISOR SMALL CAP   2011-10-05 2019-10-11
4.028 FIDELITY ADVISOR SMALL CAP   2011-12-16 2019-10-11
.115 FIDELITY ADVISOR SMALL CAP   2012-01-09 2019-10-11
.016 FIDELITY ADVISOR SMALL CAP   2012-09-07 2019-10-11
1.577 FIDELITY ADVISOR SMALL CAP   2012-10-09 2019-10-11
.03 FIDELITY ADVISOR SMALL CAP   2012-12-18 2019-10-11
5.282 FIDELITY ADVISOR SMALL CAP   2013-03-08 2019-10-11
5.446 FIDELITY ADVISOR SMALL CAP   2013-12-17 2019-10-11
.326 FIDELITY ADVISOR SMALL CAP   2014-01-14 2019-10-11
5.506 FIDELITY ADVISOR SMALL CAP   2014-12-23 2019-10-11
.205 FIDELITY ADVISOR SMALL CAP   2015-01-13 2019-10-11
3.789 FIDELITY ADVISOR SMALL CAP   2015-12-22 2019-10-11
.592 FIDELITY ADVISOR SMALL CAP   2016-01-12 2019-10-11
.449 FIDELITY ADVISOR SMALL CAP   2016-12-29 2019-10-11
.08 FIDELITY ADVISOR SMALL CAP   2017-09-20 2019-10-11
5.919 FIDELITY ADVISOR SMALL CAP   2017-12-28 2019-10-11
6.073 FIDELITY ADVISOR SMALL CAP   2018-12-28 2019-10-11
3.716 FIDELITY ADVISOR SMALL CAP   2019-03-07 2019-10-11
.031 FIDELITY ADVISOR SMALL CAP   2019-10-08 2019-10-11
6.704 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2011-02-09 2019-10-11
.209 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2011-02-14 2019-10-11
2.685 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2011-10-05 2019-10-11
.629 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2012-12-18 2019-10-11
20.04 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2013-03-08 2019-10-11
15.882 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2013-12-17 2019-10-11
.335 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2014-02-18 2019-10-11
8.483 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2014-12-16 2019-10-11
.106 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2014-12-16 2019-10-11
.697 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2015-02-18 2019-10-11
4.442 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2015-12-15 2019-10-11
1.049 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2016-02-17 2019-10-11
4.037 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2016-12-13 2019-10-11
.988 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2017-02-14 2019-10-11
6.362 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2017-12-12 2019-10-11
2.183 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2018-02-13 2019-10-11
8.478 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2018-12-11 2019-10-11
.501 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2019-02-12 2019-10-11
.275 FIDELITY ADVISOR NEW INSIGHTS CL I FUND #1281   2019-03-07 2019-10-11
5.736 ROYCE SPECIAL EQUITY INVMT   2011-02-09 2019-10-11
.899 ROYCE SPECIAL EQUITY INVMT   2011-10-05 2019-10-11
2.801 ROYCE SPECIAL EQUITY INVMT   2011-12-08 2019-10-11
2.442 ROYCE SPECIAL EQUITY INVMT   2012-12-06 2019-10-11
7.729 ROYCE SPECIAL EQUITY INVMT   2013-03-08 2019-10-11
4.016 ROYCE SPECIAL EQUITY INVMT   2013-12-10 2019-10-11
.496 ROYCE SPECIAL EQUITY INVMT   2013-12-10 2019-10-11
1.179 ROYCE SPECIAL EQUITY INVMT   2014-07-02 2019-10-11
5.075 ROYCE SPECIAL EQUITY INVMT   2014-12-22 2019-10-11
.251 ROYCE SPECIAL EQUITY INVMT   2014-12-22 2019-10-11
2.64 ROYCE SPECIAL EQUITY INVMT   2015-12-17 2019-10-11
5.686 ROYCE SPECIAL EQUITY INVMT   2015-12-22 2019-10-11
4.077 ROYCE SPECIAL EQUITY INVMT   2016-12-20 2019-10-11
.109 ROYCE SPECIAL EQUITY INVMT   2017-12-19 2019-10-11
4.448 ROYCE SPECIAL EQUITY INVMT   2017-12-19 2019-10-11
5.631 ROYCE SPECIAL EQUITY INVMT   2018-12-18 2019-10-11
.029 ROYCE SPECIAL EQUITY INVMT   2018-12-18 2019-10-11
2.474 ROYCE SPECIAL EQUITY INVMT   2019-03-07 2019-10-11
4.117 ROYCE SPECIAL EQUITY INVMT   2019-09-25 2019-10-11
231.545 TEMPLETON GLOBAL BOND ADVISOR CLASS   2014-07-02 2019-10-11
.679 TEMPLETON GLOBAL BOND ADVISOR CLASS   2014-12-17 2019-10-11
19.463 TEMPLETON GLOBAL BOND ADVISOR CLASS   2015-12-17 2019-10-11
6.427 TEMPLETON GLOBAL BOND ADVISOR CLASS   2017-06-27 2019-10-11
10.372 TEMPLETON GLOBAL BOND ADVISOR CLASS   2018-02-23 2019-10-11
6.658 TEMPLETON GLOBAL BOND ADVISOR CLASS   2018-08-23 2019-10-11
32.572 TEMPLETON GLOBAL BOND ADVISOR CLASS   2019-09-25 2019-10-11
32.667 VANGUARD INTERNATIONAL GROWTH   2011-02-09 2019-10-11
12.314 VANGUARD INTERNATIONAL GROWTH   2013-03-08 2019-10-11
4.439 VANGUARD INTERNATIONAL GROWTH   2013-06-25 2019-10-11
.858 VANGUARD INTERNATIONAL GROWTH   2014-07-02 2019-10-11
2.686 VANGUARD INTERNATIONAL GROWTH   2015-12-17 2019-10-11
.047 VANGUARD INTERNATIONAL GROWTH   2018-08-23 2019-10-11
1.998 VANGUARD INTERNATIONAL GROWTH   2018-12-20 2019-10-11
.027 VANGUARD INTERNATIONAL GROWTH   2018-12-20 2019-10-11
1.159 VANGUARD INTERNATIONAL GROWTH   2019-03-07 2019-10-11
.615 VANGUARD INTERNATIONAL GROWTH   2019-09-25 2019-10-11
17.362 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2011-02-09 2019-10-11
7.885 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2011-10-05 2019-10-11
7.689 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2013-03-08 2019-10-11
1.234 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2013-06-25 2019-10-11
7.014 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2015-12-17 2019-10-11
1.424 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2018-08-23 2019-10-11
1.285 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2018-12-20 2019-10-11
.161 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2018-12-20 2019-10-11
1.562 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2019-03-07 2019-10-11
.433 VANGUARD INTERNATIONAL VALUE PORTFOLIO   2019-09-25 2019-10-11
359.167 VANGUARD GNMA FUND   2015-12-17 2019-10-11
.124 VANGUARD GNMA FUND   2016-03-18 2019-10-11
2.948 VANGUARD GNMA FUND   2016-12-28 2019-10-11
32.05 VANGUARD GNMA FUND   2017-06-27 2019-10-11
20.717 VANGUARD GNMA FUND   2018-02-23 2019-10-11
.44 VANGUARD GNMA FUND   2019-09-25 2019-10-11
13.281 VANGUARD 500 INDEX - ADM   2011-02-09 2019-10-11
6.477 VANGUARD 500 INDEX - ADM   2013-03-08 2019-10-11
47.476 VANGUARD TOTAL INT'L STOCK INDEX ADMIRALCL   2011-02-09 2019-10-15
11.442 VANGUARD TOTAL INT'L STOCK INDEX ADMIRALCL   2011-10-05 2019-10-15
39.19 VANGUARD VALUE INDEX ADM   2008-07-21 2019-10-15
7.474 VANGUARD VALUE INDEX ADM   2011-10-05 2019-10-15
2.809 VANGUARD VALUE INDEX ADM   2013-03-08 2019-10-15
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 176   178 -2
b 134   143 -9
c 74   76 -2
d 48   51 -3
e 30   32 -2
44   49 -5
9   10 -1
120   139 -19
134   139 -5
4   2 2
1     1
370   349 21
4   5 -1
33   36 -3
109   70 39
34   17 17
245   107 138
69   73 -4
235   220 15
126   131 -5
142   143 -1
71   81 -10
90   95 -5
54   57 -3
15   16 -1
20   22 -2
87   57 30
35   42 -7
108   135 -27
105   104 1
53   35 18
53   50 3
53   55 -2
144   145 -1
87   44 43
174   78 96
1,555   1,644 -89
109   119 -10
4   5 -1
31   38 -7
2   2  
132   131 1
2   2  
205   208 -3
50   50  
43   44 -1
7,098   6,699 399
110   115 -5
414   436 -22
1,032   1,072 -40
918   942 -24
57   57  
125   124 1
92   93 -1
106   107 -1
142   142  
155   156 -1
106   107 -1
89   90 -1
308   306 2
185   178 7
1   1  
1,522   1,527 -5
6   6  
19   19  
1,021   1,057 -36
37   36 1
7   7  
2   2  
9   9  
       
902   951 -49
74   75 -1
59   61 -2
8   9 -1
2   2  
53   56 -3
96   103 -7
12   12  
1   1  
319   296 23
149   150 -1
43   43  
59   66 -7
182   169 13
95   95  
43   47 -4
5   6 -1
190   236 -46
83   100 -17
22   26 -4
52   68 -16
5   7 -2
160   215 -55
15   20 -5
250   294 -44
200   245 -45
281   338 -57
19   23 -4
372   354 18
20   19 1
117   114 3
13   13  
33   35 -2
67   70 -3
94   98 -4
45   47 -2
103   107 -4
8   8  
54   55 -1
63   64 -1
23   24 -1
1   1  
715   758 -43
13   14 -1
14   14  
1   1  
240   254 -14
22   23 -1
610   635 -25
94   97 -3
83   86 -3
117   121 -4
217   219 -2
71   70 1
51   51  
1   1  
64   67 -3
66   68 -2
76   79 -3
20   20  
44   44  
38   38  
2   2  
11   12 -1
2   2  
8   9 -1
8   8  
8   9 -1
307   326 -19
7   7  
8   8  
38   40 -2
153   162 -9
5   6 -1
5   5  
10   10  
370   386 -16
12   13 -1
2   2  
8   8  
58   58  
56   57 -1
59   60 -1
125   125  
70   68 2
29   31 -2
72   67 5
91   84 7
3   3  
       
36   35 1
1   1  
119   133 -14
123   146 -23
7   9 -2
124   147 -23
5   5  
86   91 -5
13   13  
10   12 -2
2   2  
134   153 -19
137   111 26
84   79 5
1   1  
216   140 76
7   4 3
87   50 37
20   14 6
646   498 148
512   409 103
11   9 2
273   226 47
3   3  
22   19 3
143   117 26
34   25 9
130   110 20
32   28 4
205   202 3
70   69 1
273   240 33
16   15 1
9   8 1
103   122 -19
16   17 -1
50   54 -4
44   51 -7
139   176 -37
72   97 -25
9   12 -3
21   30 -9
91   114 -23
5   6 -1
47   47  
102   102  
73   90 -17
2   2  
80   95 -15
101   101  
1   1  
44   46 -2
74   75 -1
2,475   3,089 -614
7   8 -1
208   226 -18
69   78 -9
111   123 -12
71   76 -5
348   349 -1
947   625 322
357   249 108
129   85 44
25   21 4
78   57 21
1   1  
58   50 8
1   1  
34   32 2
18   18  
621   581 40
282   205 77
275   249 26
44   39 5
251   222 29
51   55 -4
46   42 4
6   5 1
56   54 2
15   15  
3,793   3,832 -39
1   1  
31   31  
338   338  
219   212 7
5   5  
3,643   1,606 2,037
1,777   929 848
1,336   1,285 51
322   246 76
1,704   846 858
325   138 187
122   71 51
      219
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       -9
c       -2
d       -3
e       -2
      -5
      -1
      -19
      -5
      2
      1
      21
      -1
      -3
      39
      17
      138
      -4
      15
      -5
      -1
      -10
      -5
      -3
      -1
      -2
      30
      -7
      -27
      1
      18
      3
      -2
      -1
      43
      96
      -89
      -10
      -1
      -7
       
      1
       
      -3
       
      -1
      399
      -5
      -22
      -40
      -24
       
      1
      -1
      -1
       
      -1
      -1
      -1
      2
      7
       
      -5
       
       
      -36
      1
       
       
       
       
      -49
      -1
      -2
      -1
       
      -3
      -7
       
       
      23
      -1
       
      -7
      13
       
      -4
      -1
      -46
      -17
      -4
      -16
      -2
      -55
      -5
      -44
      -45
      -57
      -4
      18
      1
      3
       
      -2
      -3
      -4
      -2
      -4
       
      -1
      -1
      -1
       
      -43
      -1
       
       
      -14
      -1
      -25
      -3
      -3
      -4
      -2
      1
       
       
      -3
      -2
      -3
       
       
       
       
      -1
       
      -1
       
      -1
      -19
       
       
      -2
      -9
      -1
       
       
      -16
      -1
       
       
       
      -1
      -1
       
      2
      -2
      5
      7
       
       
      1
       
      -14
      -23
      -2
      -23
       
      -5
       
      -2
       
      -19
      26
      5
       
      76
      3
      37
      6
      148
      103
      2
      47
       
      3
      26
      9
      20
      4
      3
      1
      33
      1
      1
      -19
      -1
      -4
      -7
      -37
      -25
      -3
      -9
      -23
      -1
       
       
      -17
       
      -15
       
       
      -2
      -1
      -614
      -1
      -18
      -9
      -12
      -5
      -1
      322
      108
      44
      4
      21
       
      8
       
      2
       
      40
      77
      26
      5
      29
      -4
      4
      1
      2
       
      -39
       
       
       
      7
       
      2,037
      848
      51
      76
      858
      187
      51
       
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 4,619
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 98
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))
2018 3,496 56,194 0.062213
2017 3,500 57,904 0.060445
2016 3,491 57,055 0.061187
2015 3,500 59,946 0.058386
2014 3,180 63,660 0.049953
2
Total of line 1, column (d) .....................
2
0.292184
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
0.058437
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......
4
54,481
5
Multiply line 4 by line 3......................
5
3,184
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
46
7
Add lines 5 and 6........................
7
3,230
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,525
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2019)
Form 990-PF (2019)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here 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 46
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 46
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 46
6 Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019 6a  
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 0
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 46
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 2020 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)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2019 or the taxable year beginning in 2019? 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 (2019)
    Form 990-PF (2019)
    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 ofbulletFRANDSEN BANK & TRUST COMPANY Telephone no.bullet (507) 233-4800

    Located atbullet100 NORTH MINNESOTA AVENUENEW ULMMN ZIP+4bullet56073
    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 2019, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    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 2019?.............
    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 2019, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2019?.............
    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 2019 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2019.)..................
    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 2019?
    4b
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    FRANDSEN BANK & TRUST COClick to see attachment TRUSTEE
    2     		544    
    100 N MINNESOTA
    NEW ULM,MN56073
    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 (2019)
    Form 990-PF (2019)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............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 (2019)
    Form 990-PF (2019)
    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
    53,615
    b
    Average of monthly cash balances.......................
    1b
    1,696
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    55,311
    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
    55,311
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    830
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    54,481
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,724
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,724
    2a
    Tax on investment income for 2019 from Part VI, line 5......
    2a
    46
    b
    Income tax for 2019. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    46
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,678
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,678
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,678
    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
    3,525
    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
    3,525
    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
    46
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,479
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2018     		(c)
    2018     		(d)
    2019
    1 Distributable amount for 2019 from Part XI, line 7 2,678
    2 Undistributed income, if any, as of the end of 2019:
    a Enter amount for 2018 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2019:
    a From 2014...... 0
    b From 2015...... 0
    c From 2016...... 0
    d From 2017...... 3,360
    e From 2018...... 744
    fTotal of lines 3a through e........ 4,104
    4Qualifying distributions for 2019 from Part
    XII, line 4: bullet$ 3,525
    a Applied to 2018, 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 2019 distributable amount..... 2,678
    e Remaining amount distributed out of corpus 847
    5 Excess distributions carryover applied to 2019. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 4,951
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2018. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2019. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2020 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2014 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2020.
    Subtract lines 7 and 8 from line 6a ......     		4,951
    10 Analysis of line 9:
    a Excess from 2015.... 0
    b Excess from 2016.... 0
    c Excess from 2017.... 3,360
    d Excess from 2018.... 744
    e Excess from 2019.... 847
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2019, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in 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) 2019 (b) 2018 (c) 2017 (d) 2016
             
    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).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    RCW HIGH SCHOOL OFFICE
    301 3RD ST NE
    RENVILLE,MN56284
    (507) 233-4800
    bThe form in which applications should be submitted and information and materials they should include:
    PAPER APPLICATION
    cAny submission deadlines:
    MAY 1
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    RESIDENT OF THE RCW SCHOOL DISTRICT; 3.0 OR HIGHER GPA,.STUDENTS INTER
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    AVERY ELFERING
    C/O FRANDSEN BANK
    100 NORTH MINNESOTA STREET
    NEW ULM,MN56073     		NONE I EDUCATIONAL SCHOLARSHIP 3,500
    Total .................................bullet 3a 3,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2019)
    Form 990-PF (2019)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    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 1,469  
    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 4,619  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aSTATE TAX REFUND     		    1 120  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   6,208  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    6,208
    (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 (2019)
    Form 990-PF (2019)
    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 (2019)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description