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
THE WALSER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)7700 FRANCE AVE NO 410N
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
EDINA, MN55435
A Employer identification number

20-4968499
B Telephone number (see instructions)

(952) 355-4058
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$1,989,031J 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) 646,444
2 Check bullet.............
3 Interest on savings and temporary cash investments 552 552  
4 Dividends and interest from securities... 18,279 18,279  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 625 0  
12 Total. Add lines 1 through 11........ 665,900 18,831  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 171 0   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 171 0   0
25 Contributions, gifts, grants paid....... 585,505 585,505
26 Total expenses and disbursements. Add lines 24 and 25 585,676 0   585,505
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 80,224
b Net investment income (if negative, enter -0-) 18,831
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............. 96,918 15,719 15,719
2 Savings and temporary cash investments......... 1,591,005 1,973,312 1,973,312
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,687,923 1,989,031 1,989,031
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 1,687,923 1,989,031
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)..... 1,687,923 1,989,031
30 Total liabilities and net assets/fund balances (see instructions). 1,687,923 1,989,031
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
1,687,923
2
Enter amount from Part I, line 27a .....................
2
80,224
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
220,884
4
Add lines 1, 2, and 3 ..........................
4
1,989,031
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
1,989,031
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.)
1a
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a
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
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
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................................ 1 262
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........................... 3 262
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- ..... 5 262
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 0
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 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 262
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
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 addressbulletN/A
    14
    The books are in care ofbulletNANCY WARNER Telephone no.bullet (952) 355-4058

    Located atbullet7700 FRANCE AVE NO 410NEDINAMN ZIP+4bullet55435
    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
     
     
    ........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
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ANDREW D WALSER PRESIDENT
    0.10     		0 0 0
    7700 FRANCE AVE SUITE 410N
    EDINA,MN55435
    PAUL M WALSER CEO
    0.10     		0 0 0
    7700 FRANCE AVE SUITE 410N
    EDINA,MN55435
    NANCY WARNER FOUNDATION DIRECTOR
    30.00     		0 0 0
    7700 FRANCE AVE SUITE 410N
    EDINA,MN55435
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (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
    1,782,158
    b
    Average of monthly cash balances.......................
    1b
    56,319
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,838,477
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    1,838,477
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    27,577
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,810,900
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    90,545
    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
    90,545
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    262
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    262
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    90,283
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    625
    5
    Add lines 3 and 4............................
    5
    90,908
    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
    90,908
    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
    585,505
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    585,505
    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
    585,505
    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 90,908
    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...... 424,482
    b From 2016...... 567,650
    c From 2017...... 617,811
    d From 2018...... 385,939
    e From 2019...... 544,023
    fTotal of lines 3a through e........ 2,539,905
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 585,505
    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..... 90,908
    e Remaining amount distributed out of corpus 494,597
    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 3,034,502
    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) ...     		424,482
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		2,610,020
    10 Analysis of line 9:
    a Excess from 2016.... 567,650
    b Excess from 2017.... 617,811
    c Excess from 2018.... 385,939
    d Excess from 2019.... 544,023
    e Excess from 2020.... 494,597
    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).)
    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:
    NANCY WARNER
    7700 FRANCE AVE S SUITE 410N
    EDINA,MN55435
    (952) 355-4058
    NWARNER@WALSER.COM
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER OF INQUIRY TO NANCY WARNER, FOUNDATION DIRECTOR - GRANT REPORT FORM. EVENT SPONSORSHIP APPLICATION - ONLINE FORM.
    cAny submission deadlines:
    MAY 15TH & OCTOBER 15TH
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    ORGANIZATIONS ARE LIMITED TO ONE APPLICATION PER YEAR.
    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
    360 COMMUNITIES
    501 E HIGHWAY 13 SUITE 102
    BURNSVILLE,MN55337     		NONE PC GRANT - PARTNERS FOR SUCCESS 3,000
    826 MSP
    1915 E 22ND STREET
    MINNEAPOLIS,MN55404     		NONE PC GRANT - GENERAL OPERATING 2,500
    ACHIVE MINNEAPOLIS
    2829 UNIVERISTY AVE SUITE 850
    MINNEAPOLIS,MN55414     		NONE PC GRANT - COLLEGE AND CAREER INITIATIVE 10,000
    AMERICAN CANCER SOCIETY
    2608 5TH AVE EAST
    NORTH ST PAUL,MN55109     		NONE PC CATTLE BARON'S BALL SPONSORSHIP 2,500
    AMERICAN RED CROSS
    1201 W RIVER PKWY
    MINNEAPOLIS,MN55454     		NONE PC FRANCIS DRAKE HOTEL RELIEF FUND 2,500
    ANEW BAM
    2355 HIGHWAY 36 WEST SUITE 400
    ROSEVILLE,MN55113     		NONE PC GRANT - AFTER-SCHOOL ACADEMIC SUPPORT 5,000
    ANNALISE AUSTINE
    14320 VERNON AVE
    SAVAGE,MN55378     		NONE I SCHOLARSHIP BURNSVILLE HS 1,000
    APPETITE FOR CHANGE
    1200 W BROADWAY AVE 250
    MINNEAPOLIS,MN55411     		NONE PC GRANT - YOUTH TRAINING PROGRAM 10,000
    ATHLETES COMMITTED TO EDUCATING STUDENT
    1115 E HENNEPIN AVE
    MINNEAPOLIS,MN55414     		NONE PC GRANT - JERRY GAMBLE BOYS & GIRLS CLUB (HAROLD MEZILE NO. COMM. YMCA 5,000
    AVIVO
    1900 CHICAGO AVE
    MINNEAPOLIS,MN55404     		NONE PC GRANT - EMPLOYMENT SERVICES AND CAREER ED. 5,000
    BABY'S SPACE A PLACE TO GROW
    2438 18TH AVE S
    MINNEAPOLIS,MN55404     		NONE PC GRANT - HEALING OUR CHILDREN, HEALING OURSELVES 10,000
    BANYAN COMMUNITY
    2529 - 13TH AVE S
    MINNEAPOLIS,MN55404     		NONE PC GRANT - ANTER-SCHOOL AND SUMMER PROGRAMS (K-8) 10,000
    BELLIS
    PO BOX 75
    ELK RIVER,MN55330     		NONE PC TEA & TALK SPONSORSHIP 500
    BLOOM EARLY LEARING
    17805 SIXTH AVE N
    PLYMOUTH,MN55447     		NONE PC GRANT - GENERAL OPERATING 2,500
    BLOOMINGTON CAREER & COLLEGE ACADEMY
    8800 QUEEN AVE S STE 219
    BLOOMINGTON,MN55431     		NONE GOV GRANT - AUTOMOTIVE TECHNOLOGY PROGRAM 15,000
    BURNSVILLE COMMUNITY FOUNDATION
    350 BURNSVILLE PKWY 629
    BURNSVILLE,MN55337     		NONE PC SPONSORSHIP - HOLIDAY LIGHTS 500
    CAMERON HOPPAS
    1913 N GLEN WOOD ST
    WICHITA,KS67230     		NONE I SCHOLARSHIP - ANDOVER HS 1,000
    CENTRO TYRONE GUZMAN SIEMBRA MONTESSORI
    1915 CHICAGO AVENUE SOUTH
    MINNEAPOLIS,MN55404     		NONE PC GRANT - SIEMBRA MONTESSORI EARLY LEARNING 7,500
    CHI VO
    1616 JOHNNY CAKE RIDGE WAY
    EAGAN,MN55122     		NONE I SCHOLARSHIP - EAGAN HS 1,000
    CHILDREN'S FIRST CEO KANSAS
    PO BOX 2358
    WICHITA,KS67201     		NONE PC GRANT - BASIC NEEDS PANTRY 5,000
    CITIES
    56 6TH ST E SUITE 307
    ST PAUL,MN55101     		NONE PC GRANT - GENERAL OPERATING 5,000
    COLLEGE POSSIBLE
    755 PRIOR AVE N SUITE 200
    ST PAUL,MN55104     		NONE PC GENERAL OPS GRANT 10,000
    CRISTO REY JESUIT
    2924 - 4TH AVE S
    MINNEAPOLIS,MN55408     		NONE PC GRANT - CORPORATE WORK STUDY PROGRAM (1/3 POSITION) 10,700
    DCTC FOUNDATION
    1300 145TH STREET EAST
    ROSEMOUNT,MN55068     		NONE PC GALA SPONSORSHIP 1,000
    DISTRICT 279 FOUNDATION
    11200 93RD AVE N
    MAPLE GROVE,MN55369     		NONE PC GENERAL OPERATING GRANT 1,500
    DISTRICT 279 FOUNDATION
    11200 93RD AVE N
    MAPLE GROVE,MN55369     		NONE PC GRANT - GENERAL OPS 3,000
    DRESS FOR SUCCESS WICHITA
    1422 NORTH HIGH
    WICHITA,KS67203     		NONE PC GRANT - GENERAL OPERATING 5,000
    DUNWOODY COLLEGE OF TECHNOLOGY
    818 DUNWOODY BLVD
    MINNEAPOLIS,MN55403     		NONE PC GRANT - AUTOMOTIVE PROGRAM 15,500
    EDINA GIVE AND GO
    5701 NORMANDALE RD
    EDINA,MN55424     		NONE PC GENERAL OPS GRANT 7,500
    EDINA PUBLIC SCHOOLS
    5701 NORMANDALE RD
    EDINA,MN55424     		NONE GOV EDINA PTO SPONSORSHIP 500
    EH NAY HSAN
    2064 MISSISSIPPI ST
    MAPLEWOOD,MN55117     		NONE PC SCHOLARSHIP - ROSEVILLE AREA HS 1,000
    ELPIS ENTERPRISES
    550 VANDALIA ST SUITE 304
    ST PAUL,MN55114     		NONE PC GRANT - EMPLOYMENT READINESS TRAINING 3,000
    EMILY ELLIS
    6108 CREEKVIEW LN N
    BROOKLYN PARK,MN55443     		NONE I SCHOLARSHIP - OSSEO HS 1,000
    EMMA NORTON SERVICES
    670 ROBERT ST N
    ST PAUL,MN55101     		NONE PC GRANT - YOUTH EDUCATION 5,000
    EPISCOPAL SOCIAL SERVICES
    1010 NORTH MAIN
    WICHITA,KS67203     		NONE PC GRANT - EMPLOYMENT PROGRAM TRANSPORTATION 2,500
    EXPLORATION PLACE
    300 N MCLEAN BLVD
    WICHITA,KS67203     		NONE PC VIP SPONSOR - DEATH BY CHOCOLATE 5,000
    FRASER
    2400 WEST 64TH STREET
    MINNEAPOLIS,MN55423     		NONE PC VOLUNTEER PROJECT SUPPLIES 326
    FRASER
    2400 WEST 64TH STREET
    MINNEAPOLIS,MN55423     		NONE PC SAINTS + 12 DAYS OF GIVING 11,000
    GIGI'S PLAYHOUSE - TWIN CITIES
    4740 PARK GLEN
    ST LOUIS PARK,MN55416     		NONE PC GRANT - GIGI'S UNIFIED 10,000
    GIRLS ON THE RUN - HEART OF KANSAS
    202
    WICHITA,KS67202     		NONE PC PRESENTING SPONSORSHIP 1,000
    GIRLS ON THE RUN TWIN CITIES
    3433 BROADWAY STREET NE 430
    MINNEAPOLIS,MN55413     		NONE PC LIMITLESS POTENTIAL LUNCHEON SPONSOR 2,500
    GROVES ACADEMY
    3200 HIGHWAY 100 SOUTH
    ST LOUIS PARK,MN55416     		NONE PC GRANT - THE INSTITUTE FOR PROFESSIONAL LEARNING 10,000
    HEARTSPRING INC
    8700 EAST 29TH ST N
    WICHITA,KS67226     		NONE PC EVENT SPONSORSHIP 3,000
    HILLCREST COMMUNITY SCHOOL
    9301 THOMAS RD
    BLOOMINGTON,MN55431     		NONE PC SPRING CARNIVAL SCHOLARSHIP 400
    HIRED
    217 N 5TH AVE
    MINNEAPOLIS,MN55401     		NONE PC GRANT - GENERAL OPERATING 5,000
    HOPE ACADEMY
    2300 CHICAGO AVE
    MINNEAPOLIS,MN55404     		NONE PC GRANT - GENERAL OPERATING 10,000
    IAN ALEXANDER
    7013 LEE VALLEY CIRCLE
    EDINA,MN55439     		NONE I SCHOLARSHIP - EDINA HS 1,000
    INDEPENDENT SCHOOL DISTRICT 196
    3455 - 153RD ST W
    ROSEMOUNT,MN55068     		NONE GOV GRANT - AUTOMOTIVE PROGRAM 15,000
    JESSICA TA
    14351 LAGUNA
    WICHITA,KS67230     		NONE I SCHOLARSHIP - WICHITA SOUTHEAST 1,000
    JEWISH FAMILY & CHILDEREN'S SERVICES
    5905 GOLDEN VALLEY RD
    GOLDEN VALLEY,MN55422     		NONE PC GRANT - PARENT, CHILD+ 10,000
    JOYCE PRESCHOOL
    3400 PARK AVE
    MINNEAPOLIS,MN55407     		NONE PC GENERAL OPS GRANT 5,000
    JUNIOR ACHIEVEMENT OF KANSAS
    PO BOX 780683
    WICHITA,KS67278     		NONE PC GRANT - FINANCIAL LITERACY 10,080
    KANSAS COUNCIL ON ECONOMIC EDUCATION
    1845 FAIRMOUNT CAMPUS BOX 203
    WICHITA,KS67260     		NONE PC GRANT - YOUTH ECONOMIC & FINANCIAL LITERACY 5,000
    KANSAS FOOD BANK
    1919 E DOUGLAS
    WICHITA,KS67211     		NONE PC DOLLAR FOR POUND FOOD DRIVE MATCH KS 388
    KETCH
    11006 E WATERMAN
    WICHITA,KS67211     		NONE PC GENERAL FUND 2,500
    KEYSTONE COMMUNITY SERVICES
    2000 ST ANTHONY AVE
    ST PAUL,MN55104     		NONE PC GRANT - YOUTH EMPLOYMENT PROGRAM 5,000
    KIPP MINNESOTA
    5034 N OLIVER AVE
    MINNEAPOLIS,MN55430     		NONE PC GRANT - GENERAL OPERATING 5,000
    LEGACY MINISTRIES INC
    945 S WICHITA
    WICHITA,KS67213     		NONE PC GRANT - LEGACY WORKS 8,873
    LIFETRACK RESOURCES
    709 UNIVERSITY AVE W
    ST PAUL,MN55104     		NONE PC GRANT - FAMILIES TOGETHER PROGRAM 5,000
    LITERACY MATTERS
    1005 W FRNAKLIN AVE SUITE 3
    MINNEAPOLIS,MN55405     		NONE PC GENERAL OPS GRANT 10,000
    LITERACY MINNESOTA
    700 RAYMOND AVE SUITE 180
    MINNEAPOLIS,MN55114     		NONE PC GRANT - SUMMER READS 5,000
    MARISSA VOEKEL
    10312 STANLEY CIR
    MINNEAPOLIS,MN55437     		NONE I SCHOLARSHIP - BLOOMINGTON JEFFERSON 1,000
    MINNESOTA LAND TRUST
    2356 UNIVERSITY AVE W 240
    ST PAUL,MN55114     		NONE PC MINNESOTA MADE SPONSORSHIP 5,000
    MN INDEPENDENCE COLLEGE & COMMUNITY
    7501 LOGAN AVE S SUITE 2A
    RICHFIELD,MN55423     		NONE GOV GRANT - VOCATIONAL AND WORKFORCE DEV. 10,000
    MN LANDSCAPE ARBORETUM
    3675 ARBORETUM DR
    CHASKA,MN55318     		NONE PC GRANT - GROWING GOOD YOUTH INTERNSHIP PROGRAM 8,000
    MN TEEN & ADULT CHALLANGE
    740 EAST 24TH STREET
    MINNEAPOLIS,MN55404     		NONE PC GENERAL OPS GRANT 20,647
    NATIONAL MULTIPLE SCLEROSIS SOCIETY
    733 THIRD AVE THIRD FLOOR
    NEW YORK,NY100174057     		NONE PC MS WALK SPONSORSHIP 5,000
    NEIGHBORHOOD HOUSE
    179 ROBIE ST E
    ST PAUL,MN55107     		NONE PC GRANT - YOUTH LITERACY PROGRAM 5,000
    NEWGATE EDUCATION & RESEARCH CENTER
    2900 E HENNEPIN AVE
    MINNEAPOLIS,MN55413     		NONE PC GRANT - GENERAL OPERATING 5,000
    OASIS FOR YOUTH
    2200 W OLD SHAKOPEE RD
    BLOOMINGTON,MN55431     		NONE PC GRANT - MOA EMPLOYMENT PROGRAM 5,000
    OPEN YOUR HEARTS TO HUNGRY AND HOMELESS
    333 WASHINGTON AVE N
    MINNEAPOLIS,MN55401     		NONE PC GRANT - EDUCATION FUND 5,000
    PAGE EDUCATION FOUNDATION
    PO BOX 581254
    MINNEAPOLIS,MN55458     		NONE PC GRANT - PAGE GRANTS 5,000
    PANDO INITIATIVE
    412 SOUTH MAIN ST SUITE 212
    WICHITA,KS67202     		NONE PC 100 MEN WHO COOK SPONSORSHIP 2,500
    PERSPECTIVES
    3381 GORHAM AVE
    ST LOUIS PARK,MN55426     		NONE PC GRANT - CHILDREN'S PROGRAMS 20,000
    POSITIVE DIRECTIONS
    416 S COMMERCE ST 108
    WICHITA,KS67202     		NONE PC DONATION - CANCELLED EVENT SPONSORSHIP 1,000
    PROJECT SUCCESS
    1 GROVELAND TERRACE SUITE 300
    MINNEAPOLIS,MN55403     		NONE PC GRANT - PROJECT SUCCESS INSTITUTE 10,000
    ROSEVILLE AREA SCHOOLS
    1251 W COUNTY RD B2
    ROSEVILLE,MN55113     		NONE GOV GRANT - 2 ROTARY HOISTS FOR H.S. AUTOMOTIVE PROGRAM 10,800
    RS EDEN
    1931 WEST BROADWAY SUITE 101
    MINNEAPOLIS,MN55411     		NONE PC GRANT - FRESH GROUNDS CAFE 5,000
    SECOND HARVEST HEARTLAND
    1140 GERVAIS AVE
    ST PAUL,MN55109     		NONE PC DOLLAR FOR POUND FOOD DRIVE MATCH MN 5,116
    SOUTHSIDE FAMILY BURTURING CTR
    2448 18TH AVE S
    MINNEAPOLIS,MN55404     		NONE PC GRANT - GENERAL OPERATING 5,000
    SPECIAL OLYMPICS MINNESOTA
    900 2ND AVE S SUITE 300
    MINNEAPOLIS,MN55402     		NONE PC SPONSORSHIP - POLAR PLUNGES 9,500
    ST DAVIDS CENTER
    3395 PLYMOUTH ROAD
    MINNETONKA,MN55305     		NONE PC GRANT - INCLUSIVE EARLY CHILDHOOD EDUCATION 5,000
    SUICIDE AWARENESS VOICES OF EDUCATION
    7900 XERXES AVE S
    BLOOMINGTON,MN55431     		NONE PC GRANT - SAVE WALK 2,500
    SUMMIT ACADEMY OIC
    935 OLSON MEMOERIAL HIGHWAY
    MINNEAPOLIS,MN55405     		NONE PC GRANT - SUMMIT 2025 10,000
    TEGAN MACMURDO
    4412 WOODBINE LN N
    MINNEAPOLIS,MN55429     		NONE I SCHOLARSHIP - PARK CENTER HS 1,000
    THE FAMILY PARTNERSHIP
    414 SOUTH 8TH ST
    MINNEAPOLIS,MN55404     		NONE PC GRANT - MULTICULTURAL THERAPEUTIC PRESCHOOLS 5,000
    THE MINNEAPOLIS FOUNDATION
    800 IDS CENTER 80 S EIGHTH STREET
    MINNEAPOLIS,MN55402     		NONE PC NORTHSIDE FUNDER 5,225
    THE SALVATION ARMY - WICHITA CITY COMMA
    350 N MARKET
    WICHITA,KS67202     		NONE PC COMMUNITY LEADERSHIP BREAKFAST 1,500
    TOUCHSTONE MENTAL HEALTH
    2312 SNELLING AVE
    MINNEAPOLIS,MN55404     		NONE PC SILVER SPONSOR - INSPIRE BREAKFAST 1,000
    TREE TRUST BLOOMINGTON GREEN FUTURES
    2231 EDGEWOOD AVE S
    ST LOUIS PARK,MN55426     		NONE PC GRANT - SUMMER YOUTH EMPLOYMENT PROGRAM 5,000
    URBAN VENTURES
    2924 FOURTH AVE S
    MINNEAPOLIS,MN55408     		NONE PC GRANT - VOA H.S. ACADEMIC EXPLORATION PROGRAM 10,000
    URBAN VENTURES
    2924 FOURTH AVE S
    MINNEAPOLIS,MN55408     		NONE PC GENERAL OPS GRANT 15,000
    URBAN VENTURES
    2924 FOURTH AVE S
    MINNEAPOLIS,MN55408     		NONE PC GENERAL OPS GRANT 5,150
    VINCENT CAO
    11917 RIDGEMOUNT AVE W
    MINNETONKA,MN55305     		NONE I SCHOLARSHIP - WAYZATA HS 1,000
    VOICEHIVE
    5704 BLAISDELL AVE S
    MINNEAPOLIS,MN55419     		NONE PC EDINA PTO SPONSORSHIP 500
    VOLUNTEERS OF AMERICA
    7625 METRO BLVD
    EDINA,MN55439     		NONE PC GRANT - GENERAL OPERATING 10,000
    VOLUNTEERS OF AMERICA
    7625 METRO BLVD
    EDINA,MN55439     		NONE PC DONATION - STUDENT HOLIDAY PACKAGES VOA HIGH SCHOOL 1,300
    WALLIN EDUCATION PARTNERS
    5200 WILSON ROAD SUITE 209
    MINNEAPOLIS,MN55424     		NONE PC GRANT - GENERAL OPERATING 10,000
    WAY TO GROW
    125 W BROADWAY AVE STE110
    MINNEAPOLIS,MN55411     		NONE PC GRANT - GREAT BY EIGHT 10,000
    WHITE BEAR LAKE AREA SCHOLAR - DIST 624
    3551 MCKNIGHT RD N
    WHITE BEAR LAKE,MN55110     		NONE GOV GRANT - AUTO CAREER PATHWAY 14,000
    WOMEN VENTURE
    2021 EAST HENNEPIN AVE SUITE 200
    MINNEAPOLIS,MN55413     		NONE PC GRANT - UV AFTER SCHOOL & SUMMER VENTURES PROGRAMS 10,000
    Total .................................bullet 3a 585,505
    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 ...........     		    14 552  
    4 Dividends and interest from securities....     14 18,279  
    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 ............     		         
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGRANT AWARDS RETURNED     		        625
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 18,831 625
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    19,456
    (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.)
    11A REFUND OF AMOUNTS PREVIOUSLY TREATED AS QUALIFIYING DISTRIBUTIONS.
    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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    THE WALSER FOUNDATION
     
    Employer identification number

    20-4968499
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    THE WALSER FOUNDATION
          		Employer identification number
    20-4968499
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    WALSER HOLDING COMPANY INC
     
    7700 FRANCE AVENUE SOUTH SUITE 410N
     
    EDINA, MN55435

    		$ 646,444


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    THE WALSER FOUNDATION
          		Employer identification number

    20-4968499
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    THE WALSER FOUNDATION
          		Employer identification number

    20-4968499
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 OtherExpensesSchedule
    Name:
    THE WALSER FOUNDATION
    EIN:
    20-4968499
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK SERVICE CHARGES 121 0   0
    OTHER EXPENSES 50 0   0


    TY 2020 OtherIncomeSchedule2
    Name:
    THE WALSER FOUNDATION
    EIN:
    20-4968499
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    GRANT AWARDS RETURNED 625   625


    TY 2020 OtherIncreasesSchedule
    Name:
    THE WALSER FOUNDATION
    EIN:
    20-4968499
    Description Amount
    UNREALIZED GAINS/LOSSES 220,884