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
GLADYS E KNOWLES CHARITABLE TRUST

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634

A Employer identification number

81-0423029

B Telephone number (see instructions)

(503) 464-3580

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

$2,705,798J 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	(c) Adjusted net 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...	53,115		53,084
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		148,244
b	Gross sales price for all assets on line 6a 1,715,358
7	Capital gain net income (from Part IV, line 2)...			148,244
8	Net short-term capital gain.........				0
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).......		16	14
12	Total. Add lines 1 through 11........	201,375		201,342
13	Compensation of officers, directors, trustees, etc.	34,396		30,956		3,440
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		2,000	0	0	2,000
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		690	690		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		3	3
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	37,089		31,649	0	5,440
25	Contributions, gifts, grants paid.......	99,680				99,680
26	Total expenses and disbursements. Add lines 24 and 25	136,769		31,649	0	105,120
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	64,606
b	Net investment income (if negative, enter -0-)			169,693
c	Adjusted net income (if negative, enter -0-)...				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.............	284	217	217
	2	Savings and temporary cash investments.........	89,543	77,820	77,820
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	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 0
	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).......	1,028,488	1,183,446	1,802,070
	c	Investments—corporate bonds (attach schedule).......	777,601	482,383	494,590
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	52,953	269,405	330,048
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	874	1,053	1,053
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,949,743	2,014,324	2,705,798
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		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........	1,949,743	2,014,324
	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).....	1,949,743	2,014,324
	30	Total liabilities and net assets/fund balances (see instructions).	1,949,743	2,014,324

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) ...............

1,949,743

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

64,606

Other increases not included in line 2 (itemize) bullet

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

2,014,349

Decreases not included in line 2 (itemize) bullet

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

2,014,324

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	20. APPLE COMPUTER INC		2005-07-13	2020-01-09
b	108. BANK OF AMERICA CORP		2012-10-23	2020-01-09
c	4. BOEING COMPANY		2016-03-31	2020-01-09
d	6. COSTCO WHSL CORP NEW			2020-01-09
e	65. INTEL CORP COM		1993-03-31	2020-01-09
	50. J P MORGAN CHASE & CO			2020-01-09
	13. JOHNSON & JOHNSON			2020-01-09
	8. MCDONALDS CORP		2009-04-03	2020-01-09
	382. PARSLEY ENERGY INC-CLASS A			2020-01-09
	97. PFIZER INC COM		2007-03-15	2020-01-09
	17. PROCTER & GAMBLE CO		2002-03-19	2020-01-09
	10. UNITEDHEALTH GRP INC COM		2018-03-06	2020-01-09
	23. MEDTRONIC PLC		2015-03-18	2020-01-09
	614.251 CALVERT SHORT DURATION INCOME I			2020-01-13
	2516.09 LOOMIS SAYLES STRATEGIC ALPHA FUND Y			2020-01-13
	25000. U S TREASURY NT 2.250% 2/29/20		2018-09-07	2020-01-13
	150. ISHARES CORE TOTAL US BOND MARKETETF		2019-08-15	2020-01-24
	25000. U S TREASURY NT 2.750% 9/30/20			2020-01-24
	1051. ISHARES MSCI EMERGING MARKETS ETF			2020-02-12
	100. ISHARES MSCI EMERGING MARKETS ETF		2019-03-11	2020-02-12
	10000. U S TREASURY NT 3.625% 2/15/20		2018-10-05	2020-02-15
	40000. U S TREASURY NT 3.625% 2/15/20			2020-02-15
	40000. U S TREASURY NT 2.500% 5/31/20			2020-02-27
	1095.891 HARDING LOEVNER INTL EQTY			2020-03-06
	5000. U S TREASURY NT 2.625% 7/31/20		2019-06-07	2020-03-06
	20000. U S TREASURY NT 2.625% 7/31/20			2020-03-06
	874.126 PRUDENTIAL SHORT DURATION HIGH YIELD			2020-03-10
	45000. U S TREASURY NT 2.625% 7/31/20			2020-03-10
	10000. U S TREASURY NT 2.750% 9/30/20		2019-05-16	2020-03-11
	120. ABBVIE INC			2020-03-16
	343.241 CALVERT SHORT DURATION INCOME I			2020-03-16
	280.2 CALVERT SHORT DURATION INCOME I		2019-03-28	2020-03-16
	14. COSTCO WHSL CORP NEW			2020-03-16
	6. MCDONALDS CORP		2009-04-03	2020-03-16
	35. MICROSOFT CORP COM		2016-09-27	2020-03-16
	15. NIKE INC. CLASS B		2011-08-25	2020-03-16
	10000. U S TREASURY NT 2.750% 9/30/20			2020-03-16
	34. BOEING COMPANY			2020-03-17
	700.28 PGIM TOTAL RETURN BOND CL R6			2020-03-17
	1067.412 HARDING LOEVNER INTL EQTY			2020-04-01
	30000. U S TREASURY NT 2.750% 9/30/20			2020-04-01
	1844.66 BARON EMERGING MARKETS INSTITUTIONAL			2020-04-03
	335.121 BARON EMERGING MARKETS INSTITUTIONAL		2020-01-24	2020-04-03
	470. ISHARES MSCI EAFE VALUE INDEX ETF			2020-04-03
	567.511 VANGUARD SMALL CAP INDEX FUND			2020-04-03
	96.209 VANGUARD SMALL CAP INDEX FUND		2020-04-01	2020-04-03
	168.769 VANGUARD SMALL CAP INDEX FUND			2020-04-03
	572.159 VANGUARD SMALL CAP INDEX FUND			2020-04-03
	5.91354 COLUMBIA FDS SER DIVIDEND INC CL Z		2018-10-17	2020-04-13
	127.22746 COLUMBIA FDS SER DIVIDEND INC CL Z		2018-10-17	2020-04-13
	340.568 COLUMBIA FDS SER DIVIDEND INC CL Z			2020-04-13
	284. ISHARES CORE MSCI EMERGING MKTS ETF			2020-04-13
	112.4511 ROWE T PRICE MID CAP GROWTH FD INC			2020-04-13
	31.7859 ROWE T PRICE MID CAP GROWTH FD INC		2019-09-06	2020-04-13
	100. ISHARES CORE MSCI EAFE ETF		2019-08-15	2020-04-14
	2017.115 PRUDENTIAL SHORT DURATION HIGH YIELD			2020-04-21
	112. CARRIER GLOBAL CORPORATION COM			2020-04-23
	56. OTIS WORLDWIDE CORP			2020-04-23
	2. AMAZON COM INC COM		2018-11-08	2020-05-15
	10. APPLE COMPUTER INC		2005-07-13	2020-05-15
	244.641 CALVERT SHORT DURATION INCOME I		2017-05-11	2020-05-15
	27. CENTENE CORP COM		2019-03-11	2020-05-15
	33. WALT DISNEY CO		2010-02-10	2020-05-15
	66. INTEL CORP COM		1993-03-31	2020-05-15
	84. ISHARES MSCI EAFE VALUE INDEX ETF		2019-12-02	2020-05-15
	16. ISHARES MSCI EAFE VALUE INDEX ETF		2018-11-28	2020-05-15
	29. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010		2011-11-29	2020-05-15
	37. PROCTER & GAMBLE CO		2002-03-19	2020-05-15
	671.551 PRUDENTIAL SHORT DURATION HIGH YIELD		2015-11-18	2020-05-15
	10. UNITEDHEALTH GRP INC COM			2020-05-15
	40. LYONDELLBASELL INDUSTRIES CL A		2019-04-09	2020-05-15
	15. LYONDELLBASELL INDUSTRIES CL A		2019-06-06	2020-05-15
	1. COUNTRYWIDE FINANCIAL CORP		1911-11-11	2020-05-19
	9. APPLE COMPUTER INC		2005-07-13	2020-05-22
	43. EXXON MOBIL CORP		1994-06-16	2020-05-22
	30. LOWES COMPANIES INC		2014-06-26	2020-05-22
	49. MARATHON PETROLEUM CORP			2020-05-22
	60. MARATHON PETROLEUM CORP		2020-01-09	2020-05-22
	75. MICROSOFT CORP COM			2020-05-22
	12. NIKE INC. CLASS B		2011-08-25	2020-05-22
	41. PNC FINL SVCS GROUP INC COM W/RIGHTS ATTACHED EXP 5/25/2010		2011-11-29	2020-05-22
	9. PAYPAL HOLDINGS INC		2018-11-08	2020-05-22
	41. PROCTER & GAMBLE CO		2002-03-19	2020-05-22
	19. STARBUCKS CORP		2010-12-27	2020-05-22
	76. TC ENERGY CORP		2018-09-18	2020-05-22
	11. UNITEDHEALTH GRP INC COM		2018-01-02	2020-05-22
	4. UNITEDHEALTH GRP INC COM			2020-06-01
	25. WAL MART STORES INC			2020-06-01
	398. ISHARES LEHMAN 20+ YR TREAS			2020-06-22
	492. ISHARES MSCI EAFE VALUE INDEX ETF			2020-06-22
	1512. ISHARES CORE US TREASURY BOND ETF		2020-04-03	2020-06-22
	37. INVESCO QQQ TRUST ETF		2020-03-06	2020-07-10
	248. ISHARES CORE MSCI EAFE ETF			2020-07-10
	59.952 PRICE T ROWE GROWTH STK FD INC COM		2018-05-30	2020-07-15
	121.064 VANGUARD MID CAP INDEX-ADM			2020-07-15
	56.325 VANGUARD MID CAP INDEX-ADM		2019-11-14	2020-07-15
	67. INVESCO QQQ TRUST ETF		2020-03-06	2020-07-29
	72.02 PRICE T ROWE GROWTH STK FD INC COM			2020-07-29
	20. VANGUARD GROWTH VIPERS FUND		2020-01-24	2020-07-29
	.4491 MATCH GROUP INC NEW		2020-05-15	2020-08-04
	7. APPLE COMPUTER INC		2005-07-13	2020-08-17
	162. BP AMOCO P L C SPONSORED ADR			2020-08-17
	36. BP AMOCO P L C SPONSORED ADR		2020-01-09	2020-08-17
	249. DELTA AIR LINES INC			2020-08-17
	10. FACEBOOK INC A		2018-02-16	2020-08-17
	30. ISHARES S&P 500 INDEX FUND		2020-03-10	2020-08-17
	844. ISHARES CORE US TREASURY BOND ETF			2020-08-17
	107. ISHARES CORE MSCI EAFE ETF			2020-08-17
	10. MASTERCARD INC		2009-11-18	2020-08-17
	44. MATCH GROUP INC NEW		2020-05-15	2020-08-17
	112. RAYTHEON TECHNOLOGIES CORP COM			2020-08-17
	2. ALPHABET INC CL C		2008-11-04	2020-08-27
	2. AMAZON COM INC COM		2018-11-28	2020-08-27
	10. APPLE COMPUTER INC		2005-07-13	2020-08-27
	10. FACEBOOK INC A		2017-09-27	2020-08-27
	12. MICROSOFT CORP COM		1993-03-31	2020-08-27
	9. SALESFORCE COM INC			2020-08-27
	26. ALBEMARLE CORP		2018-02-16	2020-09-01
	2. ALPHABET INC CL C		2008-11-04	2020-09-01
	6. MICROSOFT CORP COM		1993-03-31	2020-09-01
	11. WAL MART STORES INC		2007-01-18	2020-09-01
	1. AMAZON COM INC COM		2018-11-28	2020-09-16
	15. APPLE COMPUTER INC		2005-07-13	2020-09-16
	14. CENTENE CORP COM		2019-03-11	2020-09-16
	29. INVESCO QQQ TRUST ETF			2020-09-16
	66. ISHARES MSCI EAFE GROWTH INDEX ETF		2019-08-15	2020-09-16
	6. JOHNSON & JOHNSON		2001-02-06	2020-09-16
	14. LOWES COMPANIES INC		2014-06-26	2020-09-16
	4. MCDONALDS CORP		2009-04-03	2020-09-16
	10. MICROSOFT CORP COM		1993-03-31	2020-09-16
	13. NIKE INC. CLASS B		2011-08-25	2020-09-16
	271.739 NUVEEN REAL ESTATE SECS I		2019-03-27	2020-09-16
	14. INVESCO QQQ TRUST ETF		2020-03-10	2020-09-29
	56. ISHARES MSCI EAFE GROWTH INDEX ETF		2019-08-15	2020-09-29
	275. VANGUARD SHORT-TERM T I P S			2020-09-29
	103.041 CLEARBRIDGE INTERNATIONAL GROWTH		2019-09-17	2020-10-06
	36. VANGUARD GROWTH VIPERS FUND		2019-08-15	2020-10-06
	8. VANGUARD GROWTH VIPERS FUND			2020-10-06
	3. ALPHABET INC CL A		2008-11-04	2020-10-12
	16. CENTENE CORP COM		2019-03-11	2020-10-12
	148. CITIGROUP INC			2020-10-12
	137. EXXON MOBIL CORP		1994-06-16	2020-10-12
	7. ROPER INDS INC		2020-05-15	2020-10-12
	15. INVESCO QQQ TRUST ETF		2020-03-10	2020-10-13
	60. INVESCO QQQ TRUST ETF			2020-10-28
	363. ISHARES CORE TOTAL US BOND MARKETETF			2020-10-28
	707.547 NUVEEN PREFERRED SECURITIES FUND			2020-10-28
	110. VANGUARD SHORT-TERM T I P S			2020-10-28
	2583.72 DOUBLELINE TOTAL RET BD I			2020-10-29
	4000.446 DOUBLELINE TOTAL RET BD I			2020-10-29
	81. ISHARES CORE TOTAL US BOND MARKETETF			2020-10-29
	130. ISHARES CORE TOTAL US BOND MARKETETF		2019-07-16	2020-10-29
	294.118 NUVEEN REAL ESTATE SECS I			2020-10-29
	742.721 NUVEEN PREFERRED SECURITIES FUND			2020-10-29
	372. VANGUARD SHORT-TERM T I P S			2020-10-29
	25000. CITIGROUP INC 2.700% 3/30/21		2017-05-03	2020-10-30
	328. SCHWAB US REIT ETF			2020-10-30
	240. VANGUARD SHORT-TERM T I P S		2018-11-28	2020-10-30
	2197.802 AMERICAN CENTURY HIGH INCOME FUND CL		2019-05-30	2020-11-02
	223.00075 ISHARES BARCLAYS INTERMEDIATE ETF			2020-11-02
	226.99925 ISHARES BARCLAYS INTERMEDIATE ETF		2020-08-17	2020-11-02
	2. AMAZON COM INC COM			2020-11-04
	424. ISHARES BARCLAYS INTERMEDIATE ETF			2020-11-09
	113.618 CLEARBRIDGE INTERNATIONAL GROWTH			2020-11-10
	136.786 ROWE T PRICE MID CAP GROWTH FD INC			2020-11-10
	70. VANGUARD GROWTH VIPERS FUND		2020-10-29	2020-11-10
	.9104 VIATRIS INC		2007-03-15	2020-11-30
	15. ALBEMARLE CORP			2020-12-01
	2. ALPHABET INC CL A		2008-11-04	2020-12-01
	29. APPLE COMPUTER INC		2005-07-13	2020-12-01
	82. CENTENE CORP COM			2020-12-01
	14. WALT DISNEY CO		2010-02-10	2020-12-01
	42. LOWES COMPANIES INC		2014-06-26	2020-12-01
	16. MICROSOFT CORP COM		1993-03-31	2020-12-01
	6. NIKE INC. CLASS B		2011-08-25	2020-12-01
	6. PAYPAL HOLDINGS INC		2018-11-08	2020-12-01
	4. ROPER INDS INC		2020-05-15	2020-12-01
	14. STARBUCKS CORP		2010-12-27	2020-12-01
	5. UNITEDHEALTH GRP INC COM		2018-03-26	2020-12-01
	42. VANGUARD GROWTH VIPERS FUND		2020-10-29	2020-12-01
	1. ALPHABET INC CL A		2008-11-04	2020-12-22
	1. AMAZON COM INC COM		2017-05-17	2020-12-22
	20. APPLE COMPUTER INC		2005-07-13	2020-12-22
	1473.36 BAIRD AGGREGATE BOND FD INSTL			2020-12-22
	1079.832 BAIRD AGGREGATE BOND FD INSTL			2020-12-22
	3. BLACKROCK INC		2018-11-28	2020-12-22
	8. ELECTRONIC ARTS		2019-06-06	2020-12-22
	2. FACEBOOK INC A		2017-09-27	2020-12-22
	26. MFC ISHARES TR RUSSELL 2000 INDEX FD		2020-10-13	2020-12-22
	427. ISHARES BARCLAYS INTERMEDIATE ETF			2020-12-22
	5. MASTERCARD INC		2009-11-18	2020-12-22
	10. MICROSOFT CORP COM		1993-03-31	2020-12-22
	4. PAYPAL HOLDINGS INC		2018-11-08	2020-12-22
	1176.435 PGIM TOTAL RETURN BOND CL R6		2019-06-07	2020-12-22
	818.246 PGIM TOTAL RETURN BOND CL R6			2020-12-22
	8. ROPER INDS INC		2020-05-15	2020-12-22
	13. CHUBB LTD		2012-11-01	2020-12-22
	2068.917 PRUDENTIAL SHORT DURATION HIGH YIELD			2020-12-23
	856.164 PRUDENTIAL SHORT DURATION HIGH YIELD		2020-09-04	2020-12-23
	8. VANGUARD GROWTH VIPERS FUND		2020-10-29	2020-12-23
	CAPITAL GAIN DIVIDENDS	P
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	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	6,189	109	6,080
b	3,778	1,013	2,765
c	1,345	508	837
d	1,796	974	822
e	3,864	237	3,627
	6,869	2,124	4,745
	1,890	616	1,274
	1,668	446	1,222
	7,029	10,391	-3,362
	3,769	2,426	1,343
	2,103	754	1,349
	2,940	2,267	673
	2,721	1,760	961
	9,994	9,985	9
	24,381	24,432	-51
	25,020	24,988	32
	17,067	17,059	8
	25,196	25,208	-12
	47,021	32,896	14,125
	4,474	4,247	227
	10,000	10,108	-108
	40,000	40,408	-408
	40,105	40,183	-78
	23,682	23,489	193
	5,041	5,036	5
	20,166	20,004	162
	7,500	7,992	-492
	45,366	45,189	177
	10,125	10,063	62
	8,858	3,620	5,238
	5,461	5,561	-100
	4,458	4,500	-42
	3,998	2,100	1,898
	891	335	556
	4,863	2,017	2,846
	1,007	318	689
	10,127	10,059	68
	3,844	4,225	-381
	9,797	10,287	-490
	19,662	22,829	-3,167
	30,384	30,161	223
	19,683	21,891	-2,208
	3,576	5,000	-1,424
	15,886	23,241	-7,355
	28,937	39,500	-10,563
	4,906	5,000	-94
	8,606	12,500	-3,894
	29,174	42,500	-13,326
	123	133	-10
	2,650	2,856	-206
	7,094	7,500	-406
	11,871	15,675	-3,804
	8,799	10,868	-2,069
	2,487	3,043	-556
	5,230	5,761	-531
	16,399	18,336	-1,937
	1,720	875	845
	2,635	1,312	1,323
	4,773	3,498	1,275
	3,062	55	3,007
	3,834	3,953	-119
	1,846	1,554	292
	3,590	973	2,617
	3,832	240	3,592
	3,003	4,108	-1,105
	572	783	-211
	2,841	1,476	1,365
	4,223	1,641	2,582
	5,487	6,098	-611
	2,966	2,352	614
	2,129	3,626	-1,497
	798	1,204	-406
	5		5
	2,870	49	2,821
	1,918	629	1,289
	3,664	1,418	2,246
	1,741	2,911	-1,170
	2,132	3,561	-1,429
	13,750	2,954	10,796
	1,123	254	869
	4,286	2,086	2,200
	1,357	794	563
	4,615	1,818	2,797
	1,474	307	1,167
	3,195	3,204	-9
	3,189	2,430	759
	1,210	873	337
	3,092	2,101	991
	64,630	66,909	-2,279
	19,955	23,513	-3,558
	42,108	42,651	-543
	9,664	7,538	2,126
	14,456	15,584	-1,128
	5,026	4,088	938
	25,518	23,000	2,518
	11,872	12,000	-128
	17,397	13,651	3,746
	6,100	4,854	1,246
	4,273	3,835	438
	45	34	11
	3,220	38	3,182
	3,681	7,070	-3,389
	818	1,403	-585
	6,972	12,013	-5,041
	2,613	1,788	825
	10,178	8,511	1,667
	23,547	23,775	-228
	6,572	5,825	747
	3,310	228	3,082
	5,044	3,304	1,740
	7,042	2,919	4,123
	3,269	363	2,906
	6,826	3,315	3,511
	5,022	14	5,008
	2,944	1,679	1,265
	2,735	34	2,701
	2,429	1,567	862
	2,352	2,950	-598
	3,271	363	2,908
	1,353	17	1,336
	1,542	536	1,006
	3,142	1,658	1,484
	1,713	20	1,693
	838	806	32
	8,082	5,857	2,225
	6,058	5,095	963
	898	282	616
	2,362	662	1,700
	903	223	680
	2,084	29	2,055
	1,550	275	1,275
	5,008	5,777	-769
	3,867	2,805	1,062
	5,063	4,323	740
	14,028	13,460	568
	6,142	5,242	900
	8,291	5,806	2,485
	1,843	1,525	318
	4,599	549	4,050
	1,031	921	110
	6,654	5,519	1,135
	4,699	2,003	2,696
	2,905	2,510	395
	4,426	3,005	1,421
	16,439	11,091	5,348
	42,721	41,007	1,714
	11,908	12,651	-743
	5,578	5,380	198
	27,672	27,500	172
	42,845	43,000	-155
	9,509	9,402	107
	15,261	14,401	860
	5,047	5,380	-333
	12,493	13,265	-772
	18,836	18,014	822
	25,242	25,133	109
	11,119	13,776	-2,657
	12,137	11,561	576
	20,044	20,374	-330
	13,496	13,604	-108
	13,738	13,848	-110
	6,461	2,613	3,848
	25,767	25,884	-117
	6,926	5,770	1,156
	14,906	13,109	1,797
	16,296	15,758	538
	15	10	5
	2,028	1,554	474
	3,618	366	3,252
	3,558	40	3,518
	5,219	4,499	720
	2,110	413	1,697
	6,443	1,985	4,458
	3,450	46	3,404
	810	127	683
	1,305	529	776
	1,694	1,434	260
	1,382	226	1,156
	1,721	1,087	634
	10,352	9,455	897
	1,716	183	1,533
	3,204	955	2,249
	2,642	27	2,615
	17,341	17,487	-146
	12,710	12,151	559
	2,083	1,272	811
	1,115	772	343
	533	336	197
	5,129	4,243	886
	26,248	25,992	256
	1,670	114	1,556
	2,234	29	2,205
	972	353	619
	17,729	17,205	524
	12,331	12,286	45
	3,309	2,869	440
	1,955	1,023	932
	18,455	18,759	-304
	7,637	7,500	137
	2,016	1,801	215
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330
			6,330

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			6,080
b			2,765
c			837
d			822
e			3,627
			4,745
			1,274
			1,222
			-3,362
			1,343
			1,349
			673
			961
			9
			-51
			32
			8
			-12
			14,125
			227
			-108
			-408
			-78
			193
			5
			162
			-492
			177
			62
			5,238
			-100
			-42
			1,898
			556
			2,846
			689
			68
			-381
			-490
			-3,167
			223
			-2,208
			-1,424
			-7,355
			-10,563
			-94
			-3,894
			-13,326
			-10
			-206
			-406
			-3,804
			-2,069
			-556
			-531
			-1,937
			845
			1,323
			1,275
			3,007
			-119
			292
			2,617
			3,592
			-1,105
			-211
			1,365
			2,582
			-611
			614
			-1,497
			-406
			5
			2,821
			1,289
			2,246
			-1,170
			-1,429
			10,796
			869
			2,200
			563
			2,797
			1,167
			-9
			759
			337
			991
			-2,279
			-3,558
			-543
			2,126
			-1,128
			938
			2,518
			-128
			3,746
			1,246
			438
			11
			3,182
			-3,389
			-585
			-5,041
			825
			1,667
			-228
			747
			3,082
			1,740
			4,123
			2,906
			3,511
			5,008
			1,265
			2,701
			862
			-598
			2,908
			1,336
			1,006
			1,484
			1,693
			32
			2,225
			963
			616
			1,700
			680
			2,055
			1,275
			-769
			1,062
			740
			568
			900
			2,485
			318
			4,050
			110
			1,135
			2,696
			395
			1,421
			5,348
			1,714
			-743
			198
			172
			-155
			107
			860
			-333
			-772
			822
			109
			-2,657
			576
			-330
			-108
			-110
			3,848
			-117
			1,156
			1,797
			538
			5
			474
			3,252
			3,518
			720
			1,697
			4,458
			3,404
			683
			776
			260
			1,156
			634
			897
			1,533
			2,249
			2,615
			-146
			559
			811
			343
			197
			886
			256
			1,556
			2,205
			619
			524
			45
			440
			932
			-304
			137
			215

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	148,244
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	2,359
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	2,359
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	2,359
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	2,012
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

7	Total credits and payments. Add lines 6a through 6d..............		7	2,012
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.......		9	347
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax0	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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

The books are in care of bullet

US BANK Telephone no. bullet

(406) 657-8139

Located at bullet

555 SW OAKPORTLANDOR ZIP+4 bullet

97204

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-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
US BANK N A	TRUSTEE 1	34,396
PO BOX 0634 MILWAUKEE,WI532010634	TRUSTEE 1	34,396

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...................				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...................

2,367,309

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

66,153

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

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

2,433,462

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.........................

2,433,462

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

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

36,502

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

2,396,960

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

119,848

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....................

119,848

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

2,359

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

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

2,359

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

117,489

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

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

117,489

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

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

117,489

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 ..........

105,120

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

105,120

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..............

105,120

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					117,489
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				23,914
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	0
b From 2016......	0
c From 2017......	0
d From 2018......	0
e From 2019......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 105,120
a Applied to 2019, but not more than line 2a				23,914
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.....					81,206
e Remaining amount distributed out of corpus		0
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		0
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 ..........					36,283
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2016....	0
b Excess from 2017....	0
c Excess from 2018....	0
d Excess from 2019....	0
e Excess from 2020....	0

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).)

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
INTERNATIONAL PEACE SCHOLARSHIP OF PEO SISTERHOOD 3700 GRAND AVE DES MOINES,IA50312	NONE	I	SCHOLARSHIP	7,974
ROCKY MOUNTAIN COLLEGE 1511 POLY DRIVE BILLINGS,MT59102	NONE	PC	GENERAL OPERATING	7,974
ST LUKES EPISCOPAL CHURCH 119 N 33RD ST BILLINGS,MT591012018	NONE	PC	GENERAL OPERATING	24,920
BIG HORN CNTY MEMORIAL HOSP ATTN JONI KUNKEL 17 NORTH MILES AVE HARDIN,MT590342323	NONE	PC	GENERAL OPERATING	49,841
YELLOWSTONE BOYS & GIRLS RANCH FDN 2050 OVERLAND AVE BILLINGS,MT59102	NONE	PC	GENERAL OPERATING	8,971
Total ................................. 3a				99,680

bApproved for future payment

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

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	53,115
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	148,244
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	2
bOTHER INCOME			1	14
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				201,375

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

201,375

(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

Name of Bond	End of Year Book Value	End of Year Fair Market Value
670700400 NUVEEN PREFERRED SEC	35,408	35,713
63872T620 LOOMIS SAYLES STRATE
13161T401 CALVERT SHORT DURATI
057071854 BAIRD AGGREGATE BOND	166,247	173,101
31420B300 FEDERATED INST HI YL	66,560	67,522
172967KK6 CITIGROUP INC
949763WE2 WELLS FARGO BANK C D	25,000	25,781
949763SE7 WELLS FARGO BANK C D
912828MP2 U S TREASURY NT
74442J406 PRUDENTIAL SHORT DUR
72369L107 PIONEER ILS INTERVAL	19,500	19,067
912828Y46 U S TREASURY NT
922020805 VANGUARD SHORT-TERM
9128283Y4 U S TREASURY NT
61690UBK5 MORGAN STANLEY C D
258620103 DOUBLELINE TOTAL RET
9128285B2 U S TREASURY NT
9128284Q0 U S TREASURY NT
74440B884 PGIM TOTAL RETURN BO	114,712	117,699
464287226 ISHARES CORE TOTAL U
024932154 AMERICAN CENTURY HIG	54,956	55,707

Name of Stock	End of Year Book Value	End of Year Fair Market Value
464288877 ISHARES MSCI EAFE VA	41,777	42,480
037833100 APPLE INC	655	63,691
57636Q104 MASTERCARD INC	2,393	37,479
46432F842 ISHARES CORE MSCI EA	90,771	116,071
922908710 VANGUARD 500 INDEX A	20,659	32,293
30303M102 FACEBOOK INC A	10,753	22,399
02079K107 ALPHABET INC CL C
580135101 MCDONALDS CORP	1,785	6,867
713448108 PEPSICO INC	4,231	13,050
060505104 BANK OF AMERICA CORP	5,839	14,428
594918104 MICROSOFT CORP	691	53,603
779556109 ROWE T PRICE MID-CAP	58,915	80,616
458140100 INTEL CORP	451	6,178
02079K305 ALPHABET INC CL A	2,743	26,290
254687106 DISNEY WALT CO	1,622	9,965
478160104 JOHNSON JOHNSON	5,835	19,515
06828M876 BARON EMERGING MARKE
56585A102 MARATHON PETROLEUM C	6,873	5,914
19765N245 COLUMBIA FDS SER DIV	103,235	116,043
00287Y109 ABBVIE INC
693475105 P N C FINANCIAL SERV
742718109 PROCTER GAMBLE CO
808513105 SCHWAB CHARLES CORP	8,374	16,495
88579Y101 3M CO	7,614	13,808
G5960L103 MEDTRONIC PLC	10,627	16,634
46625H100 J P MORGAN CHASE CO	5,963	22,237
30231G102 EXXON MOBIL CORP
670678507 NUVEEN REAL ESTATE S	24,829	43,370
03027X100 AMERICAN TOWER CORP	10,894	16,386
741479109 PRICE T ROWE GROWTH	18,235	27,942
913017109 UNITED TECHNOLOGIES
717081103 PFIZER INC	4,579	8,577
22160K105 COSTCO WHSL CORP	5,641	15,071
855244109 STARBUCKS CORP	1,196	7,917
548661107 LOWES CO INC
H1467J104 CHUBB LTD	6,562	12,929
654106103 NIKE INC	1,144	7,639
172967424 CITIGROUP INC
097023105 BOEING CO
17275R102 CISCO SYSTEMS INC	10,021	16,871
464287234 ISHARES MSCI EMERGIN
931142103 WAL MART STORES INC	4,208	12,829
922908686 VANGUARD SMALL CAP I
247361702 DELTA AIR LINES INC
023135106 AMAZON.COM INC	12,398	42,340
91324P102 UNITED HEALTH GROUP	9,299	16,482
012653101 ALBEMARLE CORP	5,805	9,884
922908645 VANGUARD MID-CAP IND
412295107 HARDING LOEVNER INTL
701877102 PARSLEY ENERGY INC-C
09247X101 BLACKROCK INC	11,107	18,760
70450Y103 PAYPAL HOLDINGS INC	6,026	16,394
055622104 BP PLC SPONS A D R
15135B101 CENTENE CORP COM
464287473 ISHARES RUSSELL MIDC	63,816	66,708
285512109 ELECTRONIC ARTS INC	7,725	11,057
464287499 ISHARES RUSSELL MIDC	165,778	203,525
46434G103 ISHARES CORE MSCI EM	112,694	130,470
438516106 HONEYWELL INTERNATIO	13,506	19,356
N53745100 LYONDELLBASELL INDUS
464288885 ISHARES MSCI EAFE GR	61,137	73,765
031162100 AMGEN INC	6,980	9,197
87807B107 TC ENERGY CORP	6,809	6,719
524686524 CLEARBRIDGE INTERNAT	37,988	49,694
922908736 VANGUARD GROWTH VIPE	83,384	107,163
002824100 ABBOTT LABORATORIES	10,850	14,015
127097103 CABOT OIL GAS CORP C	7,007	6,007
20030N101 COMCAST CORP CL A	9,422	10,847
278865100 ECOLAB INC	7,945	9,736
00206R102 ATT INC	7,967	7,075
12572Q105 CME GROUP INC	10,998	11,287
92556V106 VIATRIS INC	243	525
79466L302 SALESFORCE COM INC	4,920	8,011
882508104 TEXAS INSTRUMENTS IN	6,353	9,848
87612E106 TARGET CORP	7,069	12,004
87918A105 TELADOC INC	8,324	7,998
375558103 GILEAD SCIENCES INC	8,106	6,991
437076102 HOME DEPOT INC	10,675	10,625

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
87245P668 TIAA CREF INFLATION	AT COST	52,953	64,250
464287655 ISHARES RUSSELL 2000	AT COST	106,873	138,614
464288521 ISHARES FTSE NAREIT	AT COST	26,318	26,868
464287200 ISHARES S P 500 E T	AT COST	55,761	69,447
641224415 NEUBERGER BERMAN EME	AT COST	27,500	30,869

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED INCOME		0	0
000000000 MISCELLANEOUS ENTRY	874	1,053	1,053

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	577	577		0
FOREIGN TAXES ON NONQUALIFIED	113	113		0