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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
JOHN & DENISE GRAVES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2929 CHICAGO AVENUE SOUTH NO 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55407
A Employer identification number

47-1300668
B Telephone number (see instructions)

(612) 389-9820
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$54,924,760J 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... 609,593 620,567  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 256,963
b Gross sales price for all assets on line 6a 27,731,812
7 Capital gain net income (from Part IV, line 2)... 270,127
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 856 418,411  
12 Total. Add lines 1 through 11........ 867,412 1,309,105  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 163,816 0   163,816
14 Other employee salaries and wages...... 513,777 0   513,777
15 Pension plans, employee benefits....... 120,790 0   119,978
16a Legal fees (attach schedule)......... Click to see attachment 18,055 0   18,056
b Accounting fees (attach schedule)....... Click to see attachment 22,719 11,360   15,650
c Other professional fees (attach schedule).... Click to see attachment 156,648 147,918   8,730
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 28,745 715   13,745
19 Depreciation (attach schedule) and depletion... 19,805 0  
20 Occupancy.............. 48,092 0   59,952
21 Travel, conferences, and meetings....... 23,705 0   24,114
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 177,776 62,711   161,587
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,293,928 222,704   1,099,405
25 Contributions, gifts, grants paid....... 3,029,939 3,029,939
26 Total expenses and disbursements. Add lines 24 and 25 4,323,867 222,704   4,129,344
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,456,455
b Net investment income (if negative, enter -0-) 1,086,401
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 54,955 149,347 149,347
2 Savings and temporary cash investments......... 15,516,874 6,498,415 6,498,415
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) 9,267,742 0 0
b Investments—corporate stock (attach schedule)....... 25,741,506 Click to see attachment33,146,947 33,146,947
c Investments—corporate bonds (attach schedule)....... 0 Click to see attachment4,845,746 4,845,746
11 Investments—land, buildings, and equipment: basis bullet814,665
Less: accumulated depreciation (attach schedule) bullet     814,665 814,665
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,699,778 Click to see attachment9,327,011 9,327,011
14 Land, buildings, and equipment: basis bullet188,531
Less: accumulated depreciation (attach schedule) bullet75,414 132,922 113,117 113,117
15 Other assets (describe bullet) Click to see attachment98,363 Click to see attachment29,512 Click to see attachment29,512
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 54,512,140 54,924,760 54,924,760
Liabilities 17 Accounts payable and accrued expenses.......... 50,791 37,499
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) Click to see attachment86,000 Click to see attachment74,000
23 Total liabilities (add lines 17 through 22)......... 136,791 111,499
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........... 54,375,349 54,813,261
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........    
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)..... 54,375,349 54,813,261
30 Total liabilities and net assets/fund balances (see instructions). 54,512,140 54,924,760
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
54,375,349
2
Enter amount from Part I, line 27a .....................
2
-3,456,455
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
3,894,367
4
Add lines 1, 2, and 3 ..........................
4
54,813,261
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 29 .
6
54,813,261
Form 990-PF (2020)
Form 990-PF (2020)
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 PUBLICLY TRADED SECURITIES      
b CAPITAL GAIN DISTRIBUTIONS      
c CAPITAL GAIN (LOSS) PARTNERSHIPS P    
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 27,473,816   27,474,849 -1,033
b 257,996     257,996
c 13,164     13,164
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       -1,033
b       257,996
c       13,164
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 2 270,127
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 15,101
c All other domestic foundations enter 1.39% 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 15,101
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 15,101
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 11,152
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 10,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 21,152
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 6,051
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet6,051 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 the instructions
for the 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)
    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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 addressbulletWWW.JDGRAVESFOUNDATION.ORG
    14
    The books are in care ofbulletWILLIAM G GRAVES Telephone no.bullet (612) 389-9820

    Located atbullet2929 CHICAGO AVENUE SOUTHMINNEAPOLISMN ZIP+4bullet55407
    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 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    WILLIAM G GRAVES TRUSTEE/PRESIDENT
    40.00     		163,816 16,556 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    JOHN E GRAVES TRUSTEE
    1.00     		0 0 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    DENISE A GRAVES TRUSTEE
    1.00     		0 0 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    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
    KYRRA RANKINE VICE PRESIDENT, POLI
    40.00     		99,871 18,564 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    DESEANDRA SHEPPHEARD VICE PRESIDENT, CHIE
    40.00     		107,100 401 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    JILLIAN STOCKMO DIRECTOR OF LEARNING
    40.00     		77,666 5,176 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    COURTNEY KIERNAT EXECUTIVE DIRECTOR,
    30.00     		75,530 882 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    CARLA GODWIN DIRECTOR OF OPERATIO
    40.00     		67,414 5,771 0
    2929 CHICAGO AVENUE S STE 100
    MINNEAPOLIS,MN55407
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    COLLAGE ARCHITECTS LLC ARCHITECTS 170,785
    708 NE 15TH AVENUE
    MINNEAPOLIS,MN55413
    UBS FINANCIAL SERVICES INC INVESTMENT MANAGEMENT 147,918
    80 S 8TH STREET 29TH 30TH FLOORS
    MINNEAPOLIS,MN55402
    FAEGRE DRINKER BIDDE & REATH LLP LEGAL 62,813
    2200 WELLS FARGO CENTER 90 S 7TH
    STREET
    MINNEAPOLIS,MN55402
    LANDON GROUP LLC REAL ESTATE DEVELOPER 61,628
    475 CLEVELAND AVENUE N 303
    SAINT PAUL,MN55104
    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
    1 730 EAST LAKE LLC:TO SUPPORT HISTORICALLY UNDERRPRESENTED COMMUNITIES LIKE THE PHILLIPS NEIGHBORHOOD FROM BEING PURCHASED AND REDEVELOPED INTO A MANNER THAT DOES NOT SUPPORT THE CULTURAL HISTORY OF THE COMMUNITY AND ITS NEIGHBORS AT 730 EAST LAKE STREET. 814,665
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet814,665
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    36,341,481
    b
    Average of monthly cash balances.......................
    1b
    14,129,914
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    50,471,395
    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
    50,471,395
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    757,071
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    49,714,324
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,485,716
    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
    2,485,716
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    15,101
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    15,101
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,470,615
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,470,615
    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
    2,470,615
    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
    4,129,344
    b
    Program-related investments—total from Part IX-B..................
    1b
    814,665
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    814,665
    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
    5,758,674
    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
    5,758,674
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 2,470,615
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 754,383
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 5,758,674
    a Applied to 2019, but not more than line 2a 754,383
    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 2020 distributable amount..... 2,470,615
    e Remaining amount distributed out of corpus 2,533,676
    5 Excess distributions carryover applied to 2020. 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 2,533,676
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		2,533,676
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020.... 2,533,676
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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).)
    JOHN E GRAVES
    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:
    LETTER OF INTENT ACCEPTED BY E-MAIL
    2929 CHICAGO AVENUE SOUTH SUITE 100
    MINNEAPOLIS,MN55407
    (612) 389-9820
    INFO@JDGRAVESFOUNDATION.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    UNSOLICITED LETTERS OF INTEREST THAT ARE SUBMITTED FOLLOWING OUR GUIDELINES WILL BE READ AS THE FOUNDATION STAFF IS ABLE. PROPOSALS SELECTED BY FOUNDATION STAFF FOR APPROVAL WILL BE REVIEWED AT SUBSEQUENT BOARD MEETINGS.
    cAny submission deadlines:
    JAN 15 - FEB 15
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE GRAVES FAMILY FOUNDATION FUNDS FALL INTO THREE CATEGORIES: 1. STRONG SCHOOLS - K-12 SCHOOLS WHO ARE PUTTING THEIR SCHOOLS ON A PATH TO BECOMING STRONG AND STABLE, MAKING POSITIVE CHANGES. 2. STRONG SCHOOL COMMUNITIES - ORGANIZATIONS WHO SUPPORT THE BROADER COMMUNITY'S WORK TO SEED THE CONDITIONS FOR STRONG AND STABLE SCHOOLS. 3. 18+ - ORGANIZATIONS WHO PROVIDE SUPPORT AND CARE TO VULNERABLE YOUTH AS THEY LEAVE THE K-12 SYSTEM AND BEGIN THEIR JOURNEY TO ADULTHOOD. THE GRAVES FAMILY FOUNDATION DOES NOT FUND GRANTS: TO INDIVIDUALS; FOR SACRAMENTAL OR THEOLOGICAL FUNCTIONS OF RELIGIOUS ORGANIZATIONS; FOR ANNUAL FUNDRAISING EVENTS; TO ENDOWMENTS; FOR PROPAGANDIZING, INFLUENCING LEGISLATION AND/OR ELECTIONS, PROMOTING VOTER REGISTRATION, FOR POLITICAL CANDIDATES, POLITICAL CAMPAIGNS, OR FOR LITIGATION.
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    ACCESS PHILANTHROPY CHARITIES
    2100 STEVENS AVE
    MINNEAPOLIS,MN55404     		NONE PC COMMUNITY GRANT 10,000
    ACER
    6800 78TH AVE N
    BROOKLYN PARK,MN55445     		NONE PC CIVIC ENGAGEMENT 25,000
    ACHIEVEMPLS
    2829 UNIVERSITY AVE SE SUITE 850
    MINNEAPOLIS,MN55414     		NONE PC EDUCATION GRANT 81,659
    AUGSBURG COLLEGE
    2211 RIVERSIDE AVE CB 308
    MINNEAPOLIS,MN55454     		NONE PC YOUTH DEVELOPMENT 50,000
    AVENUES FOR YOUTH
    1708 OAK PARK AVENUE
    MINNEAPOLIS,MN55411     		NONE PC COVID-19 RESPONSE 5,000
    BEAUTYWELL PROJECT
    635 FAIRVIEW AVE N
    ST PAUL,MN55104     		NONE PC YOUTH DEVELOPMENT 25,000
    CAIR MINNESOTA
    2511 E FRANKLIN AVE SUITE 100
    MINNEAPOLIS,MN55406     		NONE PC COMMUNITY GRANT 10,000
    CENTRO TYRONE GUZMAN
    1915 CHICAGO AVE S
    MINNEAPOLIS,MN55404     		NONE PC COVID-19 RESPONSE 25,000
    CLUES COMUNIDADES LATINAS UNID EN SERVICIO INC
    797 EAST 7TH STREET
    ST PAUL,MN55105     		NONE PC COVID-19 RESPONSE 75,000
    COALITION OF ASIAN AMERICAN LEADERS
    941 LAFOND AVE
    ST PAUL,MN55104     		NONE PC EDUCATION GRANT 40,000
    COMMUNITY EMERGENCY ASSISTANCE PROGRAMS
    7051 BROOKLYN BLVD
    BROOKLYN CENTER,MN55429     		NONE PC COVID-19 RESPONSE 5,112
    CONNECTIONS TO INDEPENDENCE
    310 E 38TH ST SUITE 300
    MINNEAPOLIS,MN55409     		NONE PC COVID-19 RESPONSE / HOUSING GRANT 9,000
    CRISTO REY JESUIT HIGH SCHOOL
    2924 4TH AVE SOUTH
    MINNEAPOLIS,MN55408     		NONE PC COVID-19 RESPONSE 25,000
    DOUGHERTY FAMILY COLLEGE
    1000 LASALLE AVE
    MINNEAPOLIS,MN55403     		NONE PC EDUCATION GRANT 25,000
    DREAMS COMMUNITY DEVELOPMENT CORPORATION
    PO BOX 528
    CHARLESTON,WV25322     		NONE PC YOUTH DEVELOPMENT / COMMUNITY GRANT 75,000
    ED ALLIES
    1621 E HENNEPIN AVE SUITE 295
    MINNEAPOLIS,MN55414     		NONE PC EDUCATION GRANT 50,000
    EDUCATORS FOR EXCELLENCE
    80 PINE ST FLOOR 28
    NEW YORK,NY10005     		NONE PC EDUCATION GRANT 52,100
    FIRST COVENANT CHURCH MINNEAPOLIS
    810 SOUTH 7TH STREET
    MINNEAPOLIS,MN55415     		NONE PC COMMUNITY GRANT 3,000
    FOSTER ADVOCATES
    2233 UNIVERSITY AVE W 235
    ST PAUL,MN55114     		NONE PC COMMUNITY GRANT / YOUTH DEVELOPMENT 42,000
    FRIENDS OF GLOBAL MARKET
    920 EAST LAKE ST G10
    MINNEAPOLIS,MN55407     		NONE PC COMMUNITY AND EDUCATION GRANT 12,000
    FRIENDSHIP ACADEMY OF ARTS
    2600 EAST 38TH STREET
    MINNEAPOLIS,MN55406     		NONE PC COVID-19 RESPONSE 50,000
    GETUSPPE
    2300 18TH ST NW 21289
    WASHINGTON,DC20009     		NONE PC COVID-19 RESPONSE 10,000
    GOBI SUPPORT
    100 S FIFTH STREET SUITE 1900
    MINNEAPOLIS,MN55402     		NONE PC GENERAL OPERATIONS 5,000
    GREAT MINNESOTA SCHOOLS
    1330 LAGOON AVE 4TH FLOOR
    MINNEAPOLIS,MN55408     		NONE PC EDUCATION GRANT 60,000
    HENNEPIN COUNTY GC A 14
    300 SOUTH 6TH ST
    MINNEAPOLIS,MN55487     		NONE GOV YOUTH DEVELOPMENT 2,500
    HENNEPIN HEALTH FOUNDATION
    701 PARK AVE LSB-3
    MINNEAPOLIS,MN55415     		NONE PC COVID-19 RESPONSE 15,000
    HIRED
    217 FIFTH AVE NORTH SUITE 300
    MINNEAPOLIS,MN55401     		NONE PC COVID-19 RESPONSE 50,000
    HOPE COMMUNITY INC
    611 E FRANKLIN AVE
    MINNEAPOLIS,MN55404     		NONE PC COMMUNITY GRANT 50,000
    INNERCITY TENNIS FOUNDATION
    4005 NICOLLET AVE
    MINNEAPOLIS,MN55409     		NONE PC COMMUNITY GRANT 1,000
    JEWISH COMMUNITY ACTION
    2375 UNIVERSITY AVE W SUITE 150
    ST PAUL,MN55114     		NONE PC COMMUNITY GRANT 20,000
    LAKE STREET COUNCIL
    919 EAST LAKE STREET
    MINNEAPOLIS,MN55407     		NONE PC COVID-19 RESPONSE 100,000
    LATINO YOUTH DEVELOPMENT COLLABORATIVE
    310 E 38TH ST SUITE 136
    MINNEAPOLIS,MN55409     		NONE PC EDUCATION GRANT 40,000
    LIFEWORKS SERVICES INC
    2965 LONE OAK DR SUITE 160
    EAGAN,MN55121     		NONE PC YOUTH DEVELOPMENT 5,000
    MENTOR MN
    43 MAIN STREET SE
    MINNEAPOLIS,MN55414     		NONE PC EDUCATION GRANT 40,000
    METRO STATE
    700 EAST 7TH STREET
    ST PAUL,MN55106     		NONE PC EDUCATION GRANT 2,000
    MIGIZI
    2610 E 32ND STREET
    MINNEAPOLIS,MN55406     		NONE PC COVID-19 RESPONSE 5,000
    MINNEAPOLIS NORTH POLAR BASKETBALL
    1500 MORGAN AVE NORTH
    MINNEAPOLIS,MN55411     		NONE PC YOUTH DEVELOPMENT 35,000
    MINNEAPOLIS PUBLIC SCHOOLS
    1250 W BROADWAY
    MINNEAPOLIS,MN55411     		NONE GOV EDUCATION GRANT 50,000
    MINNESOTA ALLIANCE WITH YOUTH
    2233 UNIVERSITY AVE W SUITE 235
    ST PAUL,MN55114     		NONE PC EDUCATION GRANT / YOUTH DEVELOPMENT 42,500
    MINNESOTA COALITION FOR THE HOMELESS
    2233 UNIVERSITY AVE W SUITE 434
    ST PAUL,MN55114     		NONE PC COVID-19 RESPONSE 15,000
    MINNESOTA LITERACY COUNCIL
    700 RAYMOND AVE SUITE 180
    ST PAUL,MN55114     		NONE PC EDUCATION GRANT 30,000
    MINNESOTA VOICE
    1600 UNIVERSITY AVE WEST
    ST PAUL,MN55104     		NONE PC COMMUNITY GRANT 50,000
    MITCHELL HAMLINE SCHOOL OF LAW
    875 SUMMIT AVE
    ST PAUL,MN55105     		NONE PC EDUCATION GRANT 6,500
    MN EDUCATION EQUITY PARTNERSHIP
    2233 UNIVERSITY AVE W 220
    ST PAUL,MN55114     		NONE PC EDUCATION GRANT 50,000
    NAVIGATE
    1515 EAST LAKE STREET SUITE 202
    MINNEAPOLIS,MN55407     		NONE PC COVID-19 RESPONSE 80,250
    NEW LEADERS COUNCIL
    1050 CONNECTICUT AVENUE NW SUITE
    66004
    WASHINGTON,DC20035     		NONE PC EDUCATION GRANT 1,000
    NORTHPOINT
    1256 NORTH PENN AVE SUITE 5300
    MINNEAPOLIS,MN55411     		NONE PC COVID-19 RESPONSE 10,225
    PACER CENTER INC
    8161 NORMANDALE BLVD
    BLOOMINGTON,MN55437     		NONE PC EDUCATION GRANT 40,000
    PARTNERSHIPS FOR PERMANENCE
    445 MINNESOTA ST SUITE 1500
    ST PAUL,MN55101     		NONE PC YOUTH DEVELOPMENT 27,500
    PERIS HOUSING
    1930 HENNEPIN AVE
    MINNEAPOLIS,MN55403     		NONE PC YOUTH DEVELOPMENT 848,843
    PILLSBURY UNITED COMMUNITIES
    3650 FREMONT AVE N
    MINNEAPOLIS,MN55412     		NONE PC COMMUNITY GRANT 40,000
    PROJECT FOR PRIDE IN LIVING
    1035 E FRANKLIN AVE
    MINNEAPOLIS,MN55404     		NONE PC COVID-19 RESPONSE / YOUTH DEVELOPMENT 100,000
    PROOF ALLIANCE
    2233 UNIVERSITY AVE W 395
    ST PAUL,MN55114     		NONE PC YOUTH DEVELOPMENT 15,000
    PUBLIC FUNCTIONARY
    1803 FILLMORE STREET NE
    MINNEAPOLIS,MN55418     		NONE PC COMMUNITY GRANT 3,000
    REBOUND INC
    710 WEST BROADWAY AVE N
    MINNEAPOLIS,MN55411     		NONE PC COVID-19 RESPONSE 5,000
    REVIVING THE ISLAMIC SISTERHOOD FOR EMPOWERMENT
    1007 W BROADWAY AVE N
    MINNEAPOLIS,MN55411     		NONE PC COMMUNITY GRANT 15,000
    SAFEMN
    3751 VINCENT AVE N
    MINNEAPOLIS,MN55412     		NONE PC YOUTH DEVELOPMENT 25,000
    SIMPSON HOUSING SERVICES
    2100 PILLSBURY AVE S
    MINNEAPOLIS,MN55404     		NONE PC COMMUNITY GRANT 68,250
    SOMALI AMERICAN COMMUNITY
    2323 11TH AVE S
    MINNEAPOLIS,MN55404     		NONE PC COMMUNITY GRANT 32,500
    ST STEPHEN'S HUMAN SERVICES
    2309 NICOLLET AVE
    MINNEAPOLIS,MN55404     		NONE PC COVID-19 RESPONSE 5,000
    THE ANIKA FOUNDATION
    617 HARRY DAVIS LN
    MINNEAPOLIS,MN55411     		NONE PC COMMUNITY GRANT 47,000
    THE LINK
    1210 GLENWOOD AVE SUITE 1
    MINNEAPOLIS,MN55405     		NONE PC YOUTH DEVELOPMENT / COVID-19 RESPONSE / HOUSING GRANT 100,000
    THE SAINT PAUL FOUNDATION
    101 FIFTH STREET EAST SUITE 2400
    ST PAUL,MN55101     		NONE PC HOUSING GRANT 10,000
    THE SHERIDAN STORY
    2723 PATTON RD
    ROSEVILLE,MN55113     		NONE PC COVID-19 RESPONSE 50,000
    THIRD RAIL QUARTERLY
    1237 4TH ST NE
    MINNEAPOLIS,MN55413     		NONE PC COMMUNITY GRANT 20,000
    VOICES FOR RACIAL JUSTICE
    2525 EAST FRANKLIN AVE SUITE 301
    MINNEAPOLIS,MN55406     		NONE PC YOUTH DEVELOPMENT 32,000
    WE IMPACT
    3620 E 26TH ST
    MINNEAPOLIS,MN55406     		NONE PC YOUTH DEVELOPMENT 25,000
    YOUTHPRISE
    3001 BROADWAY STREET NE
    MINNEAPOLIS,MN55413     		NONE PC COVID-19 RESPONSE 25,000
    YU
    60 SOUTH 6TH ST SUITE 2800
    MINNEAPOLIS,MN55402     		NONE PC YOUTH DEVELOPMENT 25,000
    Total .................................bullet 3a 3,029,939
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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....     14 609,593  
    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 ............     		    18 256,963  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aMISCELLANEOUS INCOME     		    01 856  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 867,412 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    867,412
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 22,719 11,360   15,650

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ALTRIA GROUP INC NTS B/E 126,557 126,557
    AMC NETWORKS INC NTS B/E 136,316 136,316
    AMERICAN TOWER CORP B/E 36,140 36,140
    AMERICAN TOWER CORP B/E 90,991 90,991
    AT&T INC NTS B/E 145,017 145,017
    BECTON DICKINSON & CO 32,612 32,612
    BECTON DICKINSON & CO 55,435 55,435
    BOOKING HLDGS INC NTS 144,029 144,029
    CA INC NTS B/E 145,777 145,777
    CARLISLE COS INC B/E 79,203 79,203
    CARLISLE COS INC NTS B/E 26,211 26,211
    CDK GLOB INC NTS B/E 133,985 133,985
    CDW LLC / CDW FIN CORP 136,395 136,395
    CENTURYLINK INC NTS B/E 133,635 133,635
    CITRIX SYSTEMS INC NTS 148,166 148,166
    DISCOVERY COMM INC NTS 144,622 144,622
    DOLLAR TREE INC NTS B/E 124,213 124,213
    FISERV INC NTS B/E 143,876 143,876
    FORTUNE BRANDS HOME & SE 20,366 20,366
    HEWLETT PACKARD CO NTS 150,064 150,064
    IHS MKT LTD B/E 145,783 145,783
    JUNIPER NETWORKS INC NTS 144,070 144,070
    KLA-TENCOR CORP NTS B/E 142,279 142,279
    KOHLS CORP NTS B/E 127,117 127,117
    KRAFT HEINZ FOODS CO NTS 144,109 144,109
    MASCO CORP NTS B/E 32,146 32,146
    MASCO CORP NTS B/E 12,882 12,882
    MICROCHIP TECHNOLOGY INC 145,056 145,056
    MOLSON COORS BREWING CO 66,500 66,500
    MOTOROLA SOLUTIONS INC 148,391 148,391
    QORVO INC NTS B/E 108,922 108,922
    QVC INC NTS B/E 146,933 146,933
    REYNOLDS AMERN INC B/E 125,289 125,289
    SBA COMM CORP NTS B/E 34,875 34,875
    SERVICE CORP INTL B/E 135,255 135,255
    STEEL DYNAMICS INC NTS 143,776 143,776
    TOTAL SYS SERVICES IN 143,237 143,237
    UNITED RENTALS NORTH AM 135,514 135,514
    VERISK ANALYTICS INC B/E 123,475 123,475
    VERIZON COMMUNICATIONS 141,443 141,443
    WESTERN DIGITAL CORP NTS 145,860 145,860
    WILLIS GROUP N AMER B/E 73,523 73,523
    ZIMMER BIOMET HOLDINGS 125,701 125,701

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOT LABORATORIES 216,790 216,790
    ACCENTURE PLC IRELAND 250,762 250,762
    ACTIVISION BLIZZARD INC 182,079 182,079
    ADIDAS AG SPON ADR 68,438 68,438
    ADOBE INC. (DELAWARE) 285,569 285,569
    ALIBABA GROUP HLDG LTD SPON 99,608 99,608
    ALIGN TECHNOLOGY INC 125,579 125,579
    ALLEGION PLC 259,062 259,062
    ALPHABET INC CLASS A COMMON STOCK 87,632 87,632
    ALPHABET INC CLASS C CAPITAL STOCK 280,301 280,301
    AMADEUS IT GROUP UNSPONSORED 22,918 22,918
    AMAZON.COM INC 400,602 400,602
    AMERICAN TOWER CORP REIT 150,388 150,388
    AMGEN INC 273,375 273,375
    ANSYS INC 55,298 55,298
    AON PLC CL A 58,099 58,099
    APPLE INC 610,374 610,374
    ASPEN TECHNOLOGY INC DEL 58,873 58,873
    AUTODESK INC 188,089 188,089
    BENTLEY SYSTEMS INC CL B 66,112 66,112
    BERKLEY W R CORP 73,793 73,793
    BERKSHIRE HATHAWAY INC DEL CL B 259,463 259,463
    BRIGHT HORIZONS FAMILY SOLUTIONS INC 52,589 52,589
    BRISTOL MYERS SQUIBB CO 310,336 310,336
    BROADCOM INC 196,157 196,157
    BROADRIDGE FINANCIAL SOLUTIONS 187,976 187,976
    BUNZL PLC NEW SPON ADR 40,188 40,188
    CATERPILLAR INC 304,884 304,884
    CDW CORP 72,353 72,353
    CHARLES RIVER LABORATORIES 96,696 96,696
    CHECK POINT SOFTWARE TECH LTD 32,829 32,829
    CHEMED CORP NEW 64,446 64,446
    CINTAS CORP 176,730 176,730
    CISCO SYSTEMS INC 186,742 186,742
    CME GROUP INC 177,135 177,135
    COCA COLA COMPANY 271,513 271,513
    COLOPLAST AS SPON ADR 11,720 11,720
    COOPER COMPANIES INC NEW 87,197 87,197
    COPART INC 83,222 83,222
    CSL LTD SPON ADR 63,336 63,336
    DANAHER CORP 173,713 173,713
    DASSAULT SYSTEMS S A SPON ADR 28,514 28,514
    DOCUSIGN INC 100,924 100,924
    DOLLAR GEN CORP NEW 286,218 286,218
    ECOLAB INC 274,561 274,561
    ELANCO ANIMAL HEALTH INC 60,819 60,819
    LILLY ELI & CO 303,405 303,405
    EQUIFAX INC 70,387 70,387
    EXPERIAN PLC SPON ADR 48,399 48,399
    EXPONENT INC 44,205 44,205
    FACEBOOK INC CL A 331,343 331,343
    FAIR ISAAC CORP 50,082 50,082
    FLIR SYSTEMS INC 47,643 47,643
    FRANKLIN INVS SECS TR CONV SECS FD-ADVISOR CL 648,543 648,543
    FRANKLIN SMALL CAP GROWTH FUND-ADVISOR CL 1,238,779 1,238,779
    GARTNER INC 99,318 99,318
    HENRY JACK & ASSOC INC 49,893 49,893
    HOME DEPOT INC 157,513 157,513
    HONEYWELL INTL INC 303,948 303,948
    ICON PLC EUR 89,496 89,496
    ILLUMINA INC 89,540 89,540
    INDUSTRIA DE DISENO TEXTIL IND 37,662 37,662
    INTEL CORP 207,799 207,799
    INTERACTIVE BROKERS GROUP INC 42,157 42,157
    INTUIT 194,103 194,103
    INTUITIVE SURGICAL INC NEW 85,901 85,901
    ISHARES RUSSELL 2000 ETF 1,067,939 1,067,939
    JOHNSON & JOHNSON 267,074 267,074
    JPMORGAN CHASE & CO 278,792 278,792
    KIMBERLY CLARK CORP 256,042 256,042
    LENNOX INTL INC 66,575 66,575
    LVMH MOET HENNESSY LOUIS NEW 39,415 39,415
    MASTERCARD INCORPORATED 369,433 369,433
    MATTHEWS PACIFIC TIGER FUND INVESTOR SHARE 1,471,162 1,471,162
    MCDONALDS CORP 260,500 260,500
    MEDTRONIC PLC 373,442 373,442
    MERCK & CO INC 232,966 232,966
    MICROSOFT CORP 493,772 493,772
    MOODYS CORP 168,629 168,629
    MSCI INC 200,492 200,492
    NESTLE S A SPONSORED ADR 34,515 34,515
    NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC SPON ADR 72,094 72,094
    NIKE INC CL B 95,775 95,775
    NORDSON CORP 79,978 79,978
    ORACLE CORPORTION 276,679 276,679
    PAYPAL HOLDINGS INC 176,353 176,353
    PFIZER INC 198,001 198,001
    POOL CORP 98,340 98,340
    PROCTOR & GAMBLE CO 306,247 306,247
    REGENERON PHARMACEUTICLS INC 96,622 96,622
    ROLLINS INC 52,901 52,901
    ROPER TECHNOLOGIES INC 178,040 178,040
    SAGE GROUP PLC UN SPONSORED 50,664 50,664
    SALESFORCE.COM INC 158,664 158,664
    SAP SE SPON ADR 64,282 64,282
    SCOTTS MIRACLE-GRO CO CL A 151,546 151,546
    SERVICENOW INC 182,192 182,192
    SHERWIN WILLIAMS CO 171,234 171,234
    SIEMENS HEALTHINEERS AG ADR 52,329 52,329
    SITEONE LANDSCAPE SUPPLY INC 106,599 106,599
    SPDR S&P 500 ETF TRUST 3,372,398 3,372,398
    STARBUCKS CORP 349,076 349,076
    STRYKER CORP 287,187 287,187
    T ROWE PRICE DIVERSIFIED MID CAP GROWTH FDS INC 1,253,563 1,253,563
    TARGET CORP 503,464 503,464
    TEMENOS AG SPON ADR 38,946 38,946
    TENCENT HLDGS LTD ADR 106,182 106,182
    TERADYNE INC 134,397 134,397
    TEXAS INSTRUMENTS 191,868 191,868
    THOR INDUSTRIES INC 77,461 77,461
    TYSON FOODS INC CL A 175,792 175,792
    UBS EMERGING MARKETS EQUITY OPPORTUNITY FUND 2,392,624 2,392,624
    UNILEVER PLC AMER SHS NEW SPON 41,890 41,890
    UNITED PARCEL SVC INC CL B 343,368 343,368
    UNITEDHEALTH GROUP INC 315,612 315,612
    VERIZON COMMUNICATIONS 231,828 231,828
    VIRTUS KAR INTERNATIONAL SMALL-CAP FUND CLASS I 1,521,591 1,521,591
    VISA INC CL A COMMON STOCK 376,653 376,653
    WAL MART DE MEXICO SAB DE CV 21,837 21,837
    WALMART INC COMMON STOCK 337,023 337,023
    WALT DISNEY CO 356,925 356,925
    WASTE MANAGEMENT INC DEL 266,404 266,404
    XCEL ENERGY INC COMMON STOCK 277,147 277,147
    ZEBRA TECHNOLOGIES CORP CL A 108,765 108,765
    ZOETIS INC 349,040 349,040
    VIATRIS INC 12,500 12,500

    TY 2020 InvestmentsOtherSchedule2
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALKEON GROWTH OFFSHORE FUND II LTD SUB CLASS 3 FMV 2,640,390 2,640,390
    ALPHAKEYS MILLENNIUM FD II LLC CLASS B A/O FMV 2,676,687 2,676,687
    CALAMOS INVT TR NEW MARKET NEUTRAL FD CL I FMV 462,020 462,020
    CLOVER PCO II ORIGINATION FEEDER LP FMV 226,390 226,390
    CLOVER PCO II SECONDARY FEEDER LP FMV 186,782 186,782
    DIAMOND HILL LONG-SHORT FUND CLASS I FMV 445,016 445,016
    NORTHERN PACIFIC GROWTH FOUNDATION PARTNERS, LP FMV 2,689,726 2,689,726

    TY 2020 LegalFeesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 18,055 0   18,056


    TY 2020 OtherAssetsSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DUE FROM PERIS FOUNDATION 98,363 29,512 29,512


    TY 2020 OtherExpensesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROGRAM EXPENSE 141,152 0   124,811
    TECHNOLOGY, COMPUTER, & WEBSITE FEES 18,501 0   18,468
    OFFICE EXPENSES 18,098 0   18,283
    FILING FEES 25 0   25
    PARTNERSHIP EXPENSES 0 62,711   0


    TY 2020 OtherIncomeSchedule2
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP INCOME   418,411  
    MISCELLANEOUS INCOME 856   856


    TY 2020 OtherIncreasesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Description Amount
    UNREALIZED GAINS ON INVESTMENTS 3,894,367


    TY 2020 OtherLiabilitiesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED LEASEHOLD ALLOWANCE 86,000 74,000


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 147,918 147,918   0
    PROFESSIONAL DEVELOPMENT AND CONSULTING 8,730 0   8,730


    TY 2020 TaxesSchedule
    Name:
    JOHN & DENISE GRAVES FOUNDATION
    EIN:
    47-1300668
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAXES 15,000 0   0
    PROPERTY TAXES 13,745 0   13,745
    FOREIGN TAXES 0 715   0