TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
THE ANNEXSTAD FAMILY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)5516 MERRITT CIRCLE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
EDINA, MN55436

A Employer identification number

41-1975043

B Telephone number (see instructions)

(612) 558-2007

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$28,512,261J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	839,767		837,621
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		438,894
b	Gross sales price for all assets on line 6a 17,401,590
7	Capital gain net income (from Part IV, line 2)...			438,894
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).......		510	510
12	Total. Add lines 1 through 11........	1,279,171		1,277,025
13	Compensation of officers, directors, trustees, etc.	342,362		8,250	334,112
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	2,951		0	2,951
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		32,464	16,232	16,232
c	Other professional fees (attach schedule)....		172,099	172,099	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		62,658	9,534	29,355
19	Depreciation (attach schedule) and depletion...		12,480	0
20	Occupancy..............	13,519		0	13,519
21	Travel, conferences, and meetings.......	18,136		0	18,136
22	Printing and publications..........	93,985		0	93,985
23	Other expenses (attach schedule).......		71,412	19,306	36,772
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	822,066		225,421	545,062
25	Contributions, gifts, grants paid.......	2,462,721			2,462,721
26	Total expenses and disbursements. Add lines 24 and 25	3,284,787		225,421	3,007,783
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-2,005,616
b	Net investment income (if negative, enter -0-)			1,051,604
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	1,234,391	484,385	484,395
	2	Savings and temporary cash investments.........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	2,711,433	3,148,406	3,148,406
	b	Investments—corporate stock (attach schedule).......	2,927,559	18,049,480	18,049,480
	c	Investments—corporate bonds (attach schedule).......	497,507	3,950,396	3,950,396
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	13,568,518	2,848,595	2,848,595
	14	Land, buildings, and equipment: basis 68,896
		Less: accumulated depreciation (attach schedule) 37,907	41,692	30,989	30,989
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	20,981,100	28,512,251	28,512,261
	17	Accounts payable and accrued expenses..........	29,817	14,575
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	29,817	14,575
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	20,951,283	28,497,676
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	20,951,283	28,497,676
	30	Total liabilities and net assets/fund balances (see instructions).	20,981,100	28,512,251

Part III

Analysis of Changes in Net Assets or Fund Balances

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

20,951,283

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

-2,005,616

Other increases not included in line 2 (itemize) bullet

9,561,799

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

28,507,466

Decreases not included in line 2 (itemize) bullet

9,790

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

28,497,676

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
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	17,401,590	16,962,696	438,894
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			438,894
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	438,894
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	14,617
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	14,617
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	14,617
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	18,700
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	18,700
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	29
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,054
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax4,054	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

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

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

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

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address bullet

HTTP://ANNEXSTADFAMILYFOUNDATION.ORG/

The books are in care of bullet

FOUNDATION Telephone no. bullet

(612) 558-2007

Located at bullet

5516 MERRITT CIRCLEEDINAMN ZIP+4 bullet

55436

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 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

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2020?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

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

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?

Form 990-PF (2020)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

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

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
DICK SHERWOOD	EXECUTIVE DIRECTOR 1.00	165,000
5516 MERRITT CIRCLE EDINA,MN55436	EXECUTIVE DIRECTOR 1.00	165,000
ALBERT T ANNEXSTAD	PRESIDENT 5.00	0
5516 MERRITT CIRCLE EDINA,MN55436	PRESIDENT 5.00	0
CATHERINE C ANNEXSTAD	VICE PRESIDENT 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	VICE PRESIDENT 1.00	0
TOM ANNEXSTAD	VICE PRESIDENT 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	VICE PRESIDENT 1.00	0
PATTI ANNEXSTAD MARINOVICH	SECRETARY/TREASURER 1.00	48,979
5516 MERRITT CIRCLE EDINA,MN55436	SECRETARY/TREASURER 1.00	48,979
SHANE ANNEXSTAD	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
MORGAN MARINOVICH	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
KACI ANNEXSTAD	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
MACKENZI MARINOVICH	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
MAGGIE MARINOVICH	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
BLAKE ANNEXSTAD	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0
KAREN ANNEXSTAD	OFFICER 1.00	0
5516 MERRITT CIRCLE EDINA,MN55436	OFFICER 1.00	0

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
ELIN WAHMAN	PROGRAM ADMINSTRATOR 40.00	66,182	0	0
5516 MERRITT CIRCLE EDINA,MN55436	PROGRAM ADMINSTRATOR 40.00	66,182	0	0
ZACHARY D HAAS	PROGRAM ADMINSTRATOR 40.00	62,201	0	0
5516 MERRITT CIRCLE EDINA,MN55436	PROGRAM ADMINSTRATOR 40.00	62,201	0	0






Total number of other employees paid over $50,000...................				0

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
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2020)

Page 8

Part X

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

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

purposes:

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

26,541,388

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

806,854

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

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

27,348,242

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

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

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

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

27,348,242

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

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

410,224

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

26,938,018

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

1,346,901

Part XI

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

and do not complete this part.)

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

1,346,901

Tax on investment income for 2020 from Part VI, line 5......

14,617

Income tax for 2020. (This does not include the tax from Part VI.)...

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

14,617

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

1,332,284

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

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

1,332,284

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

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

1,332,284

Part XII

Qualifying Distributions (see instructions)

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

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

3,007,783

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

3,007,783

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

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

3,007,783

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)

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					1,332,284
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	1,445,417
b From 2016......	150,768
c From 2017......	1,374,511
d From 2018......	775,391
e From 2019......	731,012
fTotal of lines 3a through e........		4,477,099
4Qualifying distributions for 2020 from Part
XII, line 4: $ 3,007,783
a Applied to 2019, 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 2020 distributable amount.....					1,332,284
e Remaining amount distributed out of corpus		1,675,499
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		6,152,598
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) ...		1,445,417
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		4,707,181
10 Analysis of line 9:
a Excess from 2016....	150,768
b Excess from 2017....	1,374,511
c Excess from 2018....	775,391
d Excess from 2019....	731,012
e Excess from 2020....	1,675,499

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

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

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

ALBERT T ANNEXSTAD

CATHERINE C ANNEXSTAD

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

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

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

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

cAny submission deadlines:

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

Form 990-PF (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
BETHEL UNIVERSITY 3900 BETHEL DR ST PAUL,MN55112	NONE	UNIV	SCHOLARSHIP	40,000
BOSTON COLLEGE 140 COMMONWEALTH AVE CHESTNUT HILL,MA02467	NONE	UNIV	SCHOLARSHIP	40,000
CALIFORNIA STATE UNIVERSITY 401 GOLDEN SHORE LONG BEACH,CA90802	NONE	UNIV	SCHOLARSHIP	25,000
CARLETON COLLEGE 1 NORTH COLLEGE ST NORTHFIELD,MN55057	NONE	UNIV	SCHOLARSHIP	40,000
CLEMSON UNIVERSITY 105 SIKES HALL CLEMSON,SC29634	NONE	UNIV	SCHOLARSHIP	80,000
COLLEGE OF SAINT BENEDICT 37 SOUTH COLLEGE AVE ST JOSEPH,MN56374	NONE	UNIV	SCHOLARSHIP	17,640
DUKE UNIVERSITY 2138 CAMPUS DR DURHAM,NC27708	NONE	UNIV	SCHOLARSHIP	50,000
GEORGETOWN UNIVERSITY ROOM 103 37TH AND O STREETS NW WASHINGTON,DC20057	NONE	UNIV	SCHOLARSHIP	55,000
GONZAGA UNIVERSITY 502 E BOONE AVE SPOKANE,WA99258	NONE	UNIV	SCHOLARSHIP	25,000
HARVARD UNIVERSITY MASSACHUSETTS HALL CAMBRIDGE,MA02138	NONE	UNIV	SCHOLARSHIP	50,000
HIGH POINT UNIVERSITY 1 N UNIVERSITY PKWY HIGH POINT,NC27268	NONE	UNIV	SCHOLARSHIP	10,000
HILLSDALE COLLEGE 33 E COLLEGE STREET HILLSDALE,MI49242	NONE	UNIV	SCHOLARSHIP	15,000
INDIANA UNIVERSITY FOUNDATION PO BOX 500 BLOOMINGTON,IN47402	NONE	PC	SCHOLARSHIP	47,500
MICHIGAN TECHNOLOGICAL UNIVERSITY 1400 TOWNSEND DR HOUGHTON,MI49931	NONE	UNIV	SCHOLARSHIP	55,000
MINNESOTA STATE UNIVERSITY MANKATO 236 WIGLEY ADMINISTRATION BUILDING MANKATO,MN56001	NONE	UNIV	SCHOLARSHIP	5,000
NORTH DAKOTA STATE UNIVERSITY 1340 ADMINISTRATION AVE FARGO,ND58102	NONE	UNIV	SCHOLARSHIP	55,000
NORTHERN MICHIGAN UNIVERSITY FOUNDATION 607 COHODAS HALL 1401 PRESQUE ISLE AVE MARQUETTE,MI49855	NONE	PC	SCHOLARSHIP	15,767
NORTHWESTERN UNIVERSITY 633 CLARK ST EVANSTON,IL60208	NONE	UNIV	SCHOLARSHIP	10,000
POMONA COLLEGE 333 N COLLEGE WAY CLAREMONT,CA91711	NONE	UNIV	SCHOLARSHIP	20,000
RABUN COUNTY HIGH SCHOOL 230 WILDCAT HILL DRIVE TIGER,GA30576	NONE	GOV	SCHOLARSHIP	5,000
SAINT JOHN'S UNIVERSITY 2850 ABBEY ROAD COLLEGEVILLE,MN56321	NONE	UNIV	SCHOLARSHIP	15,000
SANTA CLARA UNIVERSITY 500 EL CAMINO REAL SANTA CLARA,CA95053	NONE	UNIV	SCHOLARSHIP	6,250
SPELMAN COLLEGE 350 SPELMAN LN SW ATLANTA,GA30314	NONE	UNIV	SCHOLARSHIP	40,000
STANFORD UNIVERSITY 450 SERRA MALL STANFORD,CA94305	NONE	UNIV	SCHOLARSHIP	5,000
TEXAS CHRISTIAN UNIVERSITY 2800 S UNIVERSITY DR FORT WORTH,TX76129	NONE	UNIV	SCHOLARSHIP	25,000
UNIVERSITY OF ALABAMA BOX 870132 TUSCALOOSA,AL35487	NONE	UNIV	SCHOLARSHIP	55,664
UNIVERSITY OF CALIFORNIA BERKELEY 1995 UNIVERSITY AVE STE 401 BERKELEY,CA94704	NONE	UNIV	SCHOLARSHIP	45,000
UNIVERSITY OF CHICAGO 5235 S HARPER COURTH 4TH FLOOR CHICAGO,IL60615	NONE	UNIV	SCHOLARSHIP	50,000
UNIVERSITY OF GEORGIA FOUNDATION 1 PRESS PLACE SUITE 101 ATHENS,GA30601	NONE	UNIV	SCHOLARSHIP	20,000
UNIVERSITY OF MICHIGAN 325 E GRAND RIVER AVENUE SUITE 275 EAST LANSING,MI48823	NONE	UNIV	SCHOLARSHIP	45,000
UNIVERSITY OF MISSISSIPPI FOUNDATION 406 UNIVERSITY AVE OXFORD,MS38655	NONE	UNIV	SCHOLARSHIP	56,250
UNIVERSITY OF NORTH CAROLINA 104 AIRPORT DR CB1270 CHAPEL HILL,NC27599	NONE	UNIV	SCHOLARSHIP	55,000
UNIVERSITY OF PENNSYLVANIA 3533 LOCUST WALK PHILADELPHIA,PA19104	NONE	UNIV	SCHOLARSHIP	50,000
UNIVERSITY OF NOTRE DAME 220 MAIN BUILDING NOTRE DAME,IN46556	NONE	UNIV	SCHOLARSHIP AND AWARD	1,032,400
UNIVERSITY OF REDLANDS 1200 E COLTON AVE REDLANDS,CA92373	NONE	UNIV	SCHOLARSHIP	43,750
UNIVERSITY OF ST THOMAS 2115 SUMMIT AVE ST PAUL,MN55105	NONE	UNIV	SCHOLARSHIP	50,000
VANDERBILT UNIVERSITY 110 21ST AVENUE SOUTH SUITE 110 NASHVILLE,TN37235	NONE	UNIV	SCHOLARSHIP	50,000
WASHINGTON UNIVERSITY IN ST LOUIS 1 BROOKINGS DR ST LOUIS,MO63130	NONE	UNIV	SCHOLARSHIP	50,000
WESTERN CAROLINA UNIVERSITY ONE UNIVERSITY DR CULLOWHEE,NC28723	NONE	UNIV	SCHOLARSHIP	32,500
WINONA STATE UNIVERSITY 175 W MARK ST WINONA,MN55987	NONE	UNIV	SCHOLARSHIP	45,000
YALE UNIVERSITY 38 HILLHOUSE AVE NEW HAVEN,CT06511	NONE	UNIV	SCHOLARSHIP	30,000
Total ................................. 3a				2,462,721

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	839,767
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.....			14	510
8 Gain or (loss) from sales of assets other than inventory ............			18	438,894
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		1,279,171	0

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

1,279,171

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2020)

Page 13

Part XVII

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	32,464	16,232		16,232

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2020 DepreciationSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
2017 FORD FUSION	2017-09-01	27,805	12,976	SL	5.000000000000	5,561
FORD FUSION SE 4D SEDAN	2019-01-29	24,333	4,867	SL	5.000000000000	4,867
2 LENOVO THINKPAD T540P	2014-06-16	2,470	2,470	SL	5.000000000000	0
LENOVO THINKPAD	2014-10-31	1,503	1,503	SL	5.000000000000	0
PRO DECK PORT REPLICATOR MONITOR KEYBOARD	2014-11-03	517	517	SL	5.000000000000	0
HP LASERJET PRO PRINTER	2014-11-05	493	493	SL	5.000000000000	0
IPAD WI-FI	2014-12-07	786	786	SL	5.000000000000	0
APPLE IPAD PRO (9.7 INCH)128GB	2016-10-10	1,049	682	SL	5.000000000000	210
3 NOS HP ELITEBOOK/ HP THUNDERBOLT DOCK	2019-04-12	5,958	893	SL	5.000000000000	1,192
TECH INSTALL - 3 LAPTOPS	2019-05-03	1,800	240	SL	5.000000000000	360
HP ELITE BOOK, ACER MONITOR, LOGITECH KEYBOARD	2020-05-20	2,182		SL	5.000000000000	290

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMER AIRLINE 16-3 AA PTT 3.000 04/15/2030	40,222	40,222
AMER AIRLINE 17-1 A PTT DTD 01/13/17 4.000 02/15/2029	102,826	102,826
BGC PARTNERS INC 4.375 12/15/2025	105,777	105,777
BOOKING HOLDINGS INC 4.625 04/13/2030	62,129	62,129
BRITISH AIRWAYS PLC 4.625 06/20/2024	93,204	93,204
CAPITAL ONE FINANCIAL CO 3.750 07/28/2026	56,723	56,723
CHARLES SCHWAB CORP 3.200 01/25/2028	113,244	113,244
CHARLES SCHWAB CORP 4.000 02/01/2029	119,620	119,620
CNO FINANCIAL GROUP INC 5.250 05/30/2029	120,725	120,725
COMERICA INC - 200340AT4 4.000 02/01/2029	119,133	119,133
CONTL AIRLINES 2012 1 4.150 10/11/2025	95,235	95,235
CREDIT SUISSE FIRST BOSTON A B S SER 2005 AGE1 CL M3 02/25/2032	370	370
CROWN CASTLE TOWERS LLC 3.720 07/15/2023	130,935	130,935
DELTA AIR LINES DTD 02/10/08 6.821 08/10/2022	60,308	60,308
DORIC NIMROD AIR C M O SER 2013 1 CL A 5.250 05/30/2025	63,956	63,956
EL PASO NAT GAS CO DEB 7.500 11/15/2026	95,642	95,642
EQUIFAX INC 6.900 07/01/2028	130,598	130,598
GEORGIA PAC CORP (GEORGIA PACIFIC GROUP DTD 06/02/98 7.2500 06/01/2028	135,867	135,867
HP INC 3.000 06/17/2027	110,341	110,341
JETBLUE 2019-1 CLASS A DTD 11/12/19 2.950 05/15/2028	108,819	108,819
KEMPER CORP	111,067	111,067
LIBERTY MUTUAL INSURANCE 8.500 05/15/2025	62,564	62,564
LINCOLN NATIONAL CORP 3.400 01/15/2031	114,593	114,593
MERCURY GENERAL CORP DTD 03/08/17 4.400 03/15/2027	110,734	110,734
METROPOLITAN LIFE INS CO SER 144A 7.800 11/01/2025	129,437	129,437
NATIONWIDE MUTUAL INSURANCE COMPANY 144A PRIV PLCMT 12/15/2024	99,925	99,925
NSTAR ELECTRIC CO 3.250 11/15/2025	99,754	99,754
PARTNERRE FINANCE B LLC DTD 06/19/19 3.700 07/02/2029	114,825	114,825
PERRIGO FINANCE ULTIMITE 4.375 03/15/202	113,171	113,171
PRUDENTIAL PLC 3.125 04/14/2030	56,687	56,687
RAYTHEON CO DTD 11/05/98 7.000 11/01/2028	136,376	136,376
SCHLUMBERGER INVT SA RA NT - 2.650 06/26/2030	106,757	106,757
SKYMILES LP LTD DELTA AIR LI SER 144A 4.500 10/20/2025	106,886	106,886
SPIRIT AIR 2015-1 PTT A DTD 08/11/15 4.100 10/01/2029	100,966	100,966
TEXAS CHILDRENS HOSPITAL DTD 12/16/14 3.368 10/01/2029	113,176	113,176
TOSCO CORP DTD 01/01/98 7.8000 01/01/2027	132,186	132,186
UNION PACIFIC RR CO 07-3 DTD 07/31/2007 6.176 01/02/2031	66,070	66,070
UNION PACIFIC RR CO DTD 05/20/14 3.227 05/14/2026	43,793	43,793
UNITED AIR 2014-1A PTT A B S SER 2014-1 4.000 10/11/2027	35,218	35,218
UNITED AIR 2015-1 A PTT DTD 11/17/15 3.700 12/01/2022	24,776	24,776
WACHOVIA CORPORATION 7.574 08/01/2026	98,778	98,778
WEBSTER FINANCIAL CORP	106,983	106,983

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES	416,062	416,062
ABBVIE INC	198,227	198,227
ALPHABET INC CL A	481,976	481,976
APPLE INC	1,450,965	1,450,965
APPLIED MATERIALS INC	304,208	304,208
BANK OF AMERICA CORP	130,333	130,333
BROADCOM INC	398,443	398,443
CONSTELLATION BRANDS INC A	251,907	251,907
CVS HEALTH CORP	249,295	249,295
FED EX CORP	227,167	227,167
GOLDMAN SACHS GROUP INC	195,145	195,145
HOME DEPOT INC	457,663	457,663
HONEYWELL INTERNATIONAL INC	335,003	335,003
J P MORGAN CHASE CO	489,219	489,219
JOHNSON JOHNSON	487,878	487,878
LAUDER ESTEE COS INC CL A	275,507	275,507
LOCKHEED MARTIN CORP	298,183	298,183
L3HARRIS TECHNOLOGIES INC	132,314	132,314
MCDONALDS CORP	214,580	214,580
MICROSOFT CORP	1,201,068	1,201,068
MONDELEZ INTERNATIONAL W I	210,492	210,492
NEXTERA ENERGY INC	540,050	540,050
NVIDIA CORP	234,990	234,990
PEPSICO INC	515,343	515,343
PFIZER INC	171,167	171,167
QUALCOMM INC	110,447	110,447
SHERWIN WILLIAMS CO	308,662	308,662
STARBUCKS CORP	486,759	486,759
THERMO FISHER SCIENTIFIC INC	279,468	279,468
UNION PACIFIC CORP	343,563	343,563
UNITEDHEALTH GROUP INC	236,709	236,709
US BANCORP	181,701	181,701
VERIZON COMMUNICATIONS INC	301,094	301,094
WASTE MANAGEMENT INC	330,204	330,204
3M CO	183,530	183,530
AMERIPRISE FINL INC	242,912	242,912
ARTHUR J GALLAGHER CO	262,884	262,884
CONAGRA BRANDS, INC	206,682	206,682
ROCKWELL AUTOMATION INC	194,378	194,378
T ROWE PRICE GROUP INC	310,350	310,350
THE SCOTTS MIRACLE GRO COMPANY	248,925	248,925
WEC ENERGY GROUP INC	250,782	250,782
ACCENTURE PLC CL A	408,794	408,794
ADIDAS AG A D R	299,006	299,006
ALLIANZ SE UNSP A D R	186,107	186,107
ASTRAZENECA P L C SPSD A D R	214,957	214,957
B A E SYSTEMS P L C REPSTG 4 ORD SHS	174,439	174,439
CHUBB LTD	165,464	165,464
DIAGEO PLC SPONSORED A D R	254,096	254,096
IBERDROLA S SPON A D R	362,250	362,250
LOGITECH INTL SA	189,520	189,520
MEDTRONIC PLC	272,350	272,350
NESTLE SA SPONSORED A D R	418,190	418,190
RELX PLC SPON A D R	199,129	199,129
SANOFI A D R	127,549	127,549
SIEMENS AG A D R	206,396	206,396
TRANE TECHNOLOGIES PLC	224,998	224,998

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

US Government Securities - End of Year Book Value:

968,108

US Government Securities - End of Year Fair Market Value:

968,108

State & Local Government Securities - End of Year Book Value:

2,180,298

State & Local Government Securities - End of Year Fair Market Value:

2,180,298

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AMERICAN TOWER CORP	AT COST	112,231	112,231
BAYVIEW OPPORTUNITY MASTER FUN SER 2017-SPL1 CL A 0 DAY DELAY 144A PRIV PL	AT COST	47,269	47,269
CHASE MORTGAGE FINANCE CORPORA SER 2019-1 CL A4 24 DAY DELAY 144A PRIV PLC	AT COST	30,043	30,043
FED HOME LN MTG CORP MULTICLASS MTG PARTN C M O SER 2097 CL PZ 6.000 11/15/	AT COST	123,883	123,883
FED HOME LN MTG CORP POOL #A24456 DTD 07/01/04 6.000 07/01/2034	AT COST	23,505	23,505
FED HOME LN MTG CORP POOL #C01416 DTD 09/01/02 7.000 09/01/2032	AT COST	31,554	31,554
FED HOME LN MTG CORP POOL #C31837 DTD 10/01/99 8.500 10/01/2029	AT COST	8,743	8,743
FED HOME LN MTG CORP POOL #G02391 DTD 10/01/06 6.000 11/01/2036	AT COST	27,998	27,998
FED HOME LN MTG CORP SER 2000 CL C 14 DAY DELAY DTD 09/01/97 6.500 09/15/2	AT COST	43,091	43,091
FED HOME LN MTG CORP SER 2417 CL BZ 14 DAY DELAY DTD 02/01/02 6.500 02/15/	AT COST	124,226	124,226
FED HOME LN MTG CORP SER 3393 CL BY 14 DAY DELAY DTD 11/01/07 5.500 11/15/	AT COST	62,370	62,370
FED HOME LN MTG CORP SER 4413 CL VB 14 DAY DELAY DTD 11/01/14 3.000 06/15/	AT COST	131,281	131,281
FED HOME LN MTG CORP SER 4863 CL H 14 DAY DELAY DTD 02/01/19 7.000 03/15/2	AT COST	57,968	57,968
FED HOME LN MTG CORP SER 4869 CL BT 14 DAY DELAY DTD 03/01/19 6.500 02/15/	AT COST	51,841	51,841
FED NATL MTG ASSN POOL #254070 DTD 09/01/01 7.500 07/01/2031	AT COST	37,764	37,764
FED NATL MTG ASSN POOL #254279 DTD 01/01/02 6.500 12/01/2031	AT COST	29,109	29,109
FED NATL MTG ASSN POOL #254653 DTD 12/01/02 6.500 01/01/2033	AT COST	26,400	26,400
FED NATL MTG ASSN POOL #256001 DTD 10/01/05 6.000 11/01/2025	AT COST	16,583	16,583
FED NATL MTG ASSN POOL #256715 DTD 04/01/07 6.000 05/01/2027	AT COST	20,095	20,095
FED NATL MTG ASSN POOL #333876 DTD 12/01/95 8.500 03/01/2025	AT COST	14,791	14,791
FED NATL MTG ASSN POOL #444302 DTD 09/01/98 6.000 09/01/2028	AT COST	3,544	3,544
FED NATL MTG ASSN POOL #458178 DTD 09/01/05 7.346 08/15/2032	AT COST	17,943	17,943
FED NATL MTG ASSN POOL #540912 DTD 06/01/01 6.500 06/01/2031	AT COST	7,167	7,167
FED NATL MTG ASSN POOL #596676 DTD 08/01/01 6.500 08/01/2031	AT COST	10,480	10,480
FED NATL MTG ASSN POOL #596686 DTD 11/01/01 6.500 11/01/2031	AT COST	11,832	11,832
FED NATL MTG ASSN POOL #725222 DTD 02/01/04 5.5 02/01/2034	AT COST	39,293	39,293
FED NATL MTG ASSN POOL #767867 DTD 04/01/04 5.500 03/01/2033	AT COST	59,958	59,958
FED NATL MTG ASSN POOL #873731 DTD 08/01/06 5.880 07/01/2023	AT COST	78,267	78,267
FED NATL MTG ASSN POOL #995696 DTD 04/01/09 7.500 02/01/2038	AT COST	7,941	7,941
FED NATL MTG ASSN POOL #AI7426 8.000 03/01/2038	AT COST	164,599	164,599
FED NATL MTG ASSN POOL #AM8447 2.830 04/01/2025	AT COST	97,845	97,845
FED NATL MTG ASSN POOL #BI2564 2.880 05/01/2026	AT COST	270,750	270,750
FED NATL MTG ASSN REMIC SER 2003-29 CL BY 5.500 04/25/2033	AT COST	176,147	176,147
FED NATL MTG ASSN REMIC SER 2003-W2 CL 1A1 24 DAY DELAY DTD 01/01/03 6.500	AT COST	93,830	93,830
FED NATL MTG ASSN SER 1992-162 CL D	AT COST	527	527
FED NATL MTG ASSN SER 1992-87 CL Z	AT COST	5,383	5,383
FED NATL MTG ASSN SER 2004-W8 CL 2A 24 DAY DELAY DTD 06/01/04 6.500 06/25/	AT COST	32,131	32,131
FED NATL MTG ASSN SER 2014-2 CL KP 24 DAY DELAY DTD 01/01/14 02/25/2044	AT COST	71,804	71,804
FED NATL MTG ASSN SER 2017-97 CL DP 24 DAY DELAY DTD 11/01/17 3.500 10/25/	AT COST	41,122	41,122
FED NATL MTG ASSN SERIES 1998-W2 CLASS A8 24 DAY DELAY DTD 07/01/98 6.500	AT COST	23,961	23,961
FEDERAL NATL MTG ASSN GTD REMIC PASS THRU CMO SER 2004 T2 CL 1A4 7.500 11/25	AT COST	43,380	43,380
GOVT NATL MTG ASSN II POOL #616768 DTD 12/01/04 6.500 11/20/2034	AT COST	24,924	24,924
GOVT NATL MTG ASSN POOL #529261 DTD 02/01/00 8.000 02/15/2030	AT COST	34,786	34,786
GOVT NATL MTG ASSN POOL #781401 DTD 02/01/02 7.500 02/15/2032	AT COST	21,476	21,476
GOVT NATL MTG ASSN POOL #784135 DTD 03/01/16 7.000 10/15/2029	AT COST	42,112	42,112
GOVT NATL MTG ASSN SER 2018-160 CL DA 19 DAY DELAY DTD 11/01/18 7.000 11/2	AT COST	52,025	52,025
GOVT NATL MTG ASSN SER 2019-10 CL DB 19 DAY DELAY DTD 01/01/19 6.500 01/20	AT COST	63,102	63,102
GOVT NATL MTG ASSN SER 2019-23 CL A 19 DAY DELAY DTD 02/01/19 6.500 10/20/	AT COST	63,349	63,349
GOVT NATL MTG ASSN SER 2019-29 CL LM 19 DAY DELAY DTD 03/01/19 6.500 03/20	AT COST	34,082	34,082
NEW RESIDENTIAL MORTGAGE LOAN SER 2017-5A CL A1 0 DAY DELAY 144A PRIV PLCM	AT COST	34,777	34,777
SEQUOIA MORTGAGE TRUST SER 2012-2 CL B2 24 DAY DELAY DTD 03/01/12 04/25/20	AT COST	31,213	31,213
SEQUOIA MORTGAGE TRUST SER 2020-2 CL A1 03/25/2050	AT COST	64,779	64,779
TOWD POINT MORTGAGE TRUST SER 2019-MH1 CL A2 24 DAY DELAY 144A PRIV PLCMT	AT COST	103,321	103,321

- TIN:

TY 2020 LandEtcSchedule2

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
2017 FORD FUSION	27,805	18,537	9,268	9,268
FORD FUSION SE 4D SEDAN	24,333	9,734	14,599	14,599
2 LENOVO THINKPAD T540P	2,470	2,470	0
LENOVO THINKPAD	1,503	1,503	0
PRO DECK PORT REPLICATOR MONITOR KEYBOARD	517	517	0
HP LASERJET PRO PRINTER	493	493	0
IPAD WI-FI	786	786	0
APPLE IPAD PRO (9.7 INCH)128GB	1,049	892	157	157
3 NOS HP ELITEBOOK/ HP THUNDERBOLT DOCK	5,958	2,085	3,873	3,873
TECH INSTALL - 3 LAPTOPS	1,800	600	1,200	1,200
HP ELITE BOOK, ACER MONITOR, LOGITECH KEYBOARD	2,182	290	1,892	1,892

- TIN:

TY 2020 OtherDecreasesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Description	Amount
OTHER ADJUSTMENTS OF TIMING (ACCRUAL TO CASH)	9,790

- TIN:

TY 2020 OtherExpensesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BANK CHARGES	779	389	389
COMPUTER/SOFTWARE SUPPORT	16,627	8,314	8,314
DUES & SUBSCRIPTIONS	9,436	9,436	0
INSURANCE	9,647	0	7,235
PHONE & DATA	11,672	1,167	8,753
POSTAGE AND SHIPPING	5,809	0	5,809
SUPPLIES	10,644	0	5,322
MISCELLANEOUS	4,862	0	0
VEHICLE REPAIR	85	0	0
ADMINISTRATIVE SUPPORT	1,801	0	900
FILING FEES	50	0	50

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER INVESTMENT INCOME	510	510	0

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Description	Amount
BASIS ADJUSTMENT TO RECORD ASSETS AT FMV	7,194,739
CURRENT YEAR UNREALIZED GAINS (LOSSES)	2,367,060

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT FEES	172,099	172,099		0

- TIN:

TY 2020 TaxesSchedule

Name:

THE ANNEXSTAD FAMILY FOUNDATION

EIN:

41-1975043

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FOREIGN TAXES	9,534	9,534	0
EMPLOYMENT TAXES	29,355	0	29,355
FEDERAL ESTIMATED TAX PAYMENTS	11,536	0	0
OTHER TAXES	2,233	0	0
FEDERAL TAX PAYMENTS	10,000	0	0