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
ROLES FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)19500 TOWERING OAKS TRAIL
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PRIOR LAKE, MN55372
A Employer identification number

26-1584011
B Telephone number (see instructions)

(952) 201-1467
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$5,322,149J 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) 255,564
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 79,155 79,155  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 71,906
b Gross sales price for all assets on line 6a 678,790
7 Capital gain net income (from Part IV, line 2)... 71,906
8 Net short-term capital gain.........  
9 Income modifications........... 7,500
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).......      
12 Total. Add lines 1 through 11........ 406,625 151,061 7,500
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)....... Click to see attachment 7,125 3,563   3,563
c Other professional fees (attach schedule).... Click to see attachment 34,979 34,979   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 8,302 1,221   0
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 27 27   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 50,433 39,790   3,563
25 Contributions, gifts, grants paid....... 163,860 163,860
26 Total expenses and disbursements. Add lines 24 and 25 214,293 39,790   167,423
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 192,332
b Net investment income (if negative, enter -0-) 111,271
c Adjusted net income (if negative, enter -0-)... 7,500
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............. 102,785 78,892 78,892
2 Savings and temporary cash investments.........      
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) 283,458 Click to see attachment320,833 340,405
b Investments—corporate stock (attach schedule)....... 2,544,980 Click to see attachment2,481,104 3,451,222
c Investments—corporate bonds (attach schedule)....... 313,552 Click to see attachment287,814 302,212
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 135,364 Click to see attachment158,579 179,994
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment800,000 Click to see attachment800,000 Click to see attachment969,424
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,180,139 4,127,222 5,322,149
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...........    
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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 4,180,139 4,127,222
29 Total net assets or fund balances (see instructions)..... 4,180,139 4,127,222
30 Total liabilities and net assets/fund balances (see instructions). 4,180,139 4,127,222
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
4,180,139
2
Enter amount from Part I, line 27a .....................
2
192,332
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
7,500
4
Add lines 1, 2, and 3 ..........................
4
4,379,971
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
252,749
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,127,222
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS DIVIDENDS P    
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 677,255   606,884 70,371
b 1,535     1,535
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       70,371
b       1,535
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 71,906
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 1,547
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 1,547
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 1,547
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 4,840
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 4,840
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 13
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,280
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet3,280 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletTHOMAS M ROLES Telephone no.bullet (952) 201-1467

    Located atbullet19500 TOWERING OAKS TRAILPRIOR LAKEMN ZIP+4bullet55372
    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
     
     
    .........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
    THOMAS M ROLES PRESIDENT
    1.00     		0 0 0
    19500 TOWERING OAKS TRAIL
    PRIOR LAKE,MN55372
    KARI L ROLES SECRETARY
    0.50     		0 0 0
    19500 TOWERING OAKS TRAIL
    PRIOR LAKE,MN55372
    LISA M TONN TREASURER
    1.00     		0 0 0
    C/O 19500 TOWERING OAKS TRAIL
    PRIOR LAKE,MN55121
    MADISON ROLES DIRECTOR
    0.50     		0 0 0
    C/O 19500 TOWERING OAKS TRAIL
    PRIOR LAKE,MN55121
    SHELBY GRAF DIRECTOR
    0.50     		0 0 0
    C/O 19500 TOWERING OAKS TRAIL
    PRIOR LAKE,MN55121
    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
    3,709,666
    b
    Average of monthly cash balances.......................
    1b
    99,759
    c
    Fair market value of all other assets (see instructions)................
    1c
    969,424
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,778,849
    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
    4,778,849
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    71,683
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,707,166
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    235,358
    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
    235,358
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    1,547
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,547
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    233,811
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    7,500
    5
    Add lines 3 and 4............................
    5
    241,311
    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
    241,311
    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
    167,423
    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
    167,423
    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
    167,423
    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 7 241,311
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 123,898
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 167,423
    a Applied to 2019, but not more than line 2a 123,898
    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..... 43,525
    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 ..........     		197,786
    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....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    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).)
    THOMAS M ROLES
    KARI L ROLES
    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 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)
    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
    2HARVESTORG
    7101 WINNETKA AVE N
    BROOKLYN PARK,MN55428     		NONE PC PROGRAM SUPPORT 11,000
    AFRICAN CHILDREN TODAY INC
    PO BOX 390123
    EDINA,MN55439     		NONE PC PROGRAM SUPPORT 29,860
    BEST BUDDIES INTERNATIONAL INC
    100 SOUTHEAST SECOND STREET STE
    2200
    MIAMI,FL33131     		NONE PC PROGRAM SUPPORT 1,500
    C4 FOUNDATION (CHARLIE K FOUNDATION)
    PO BOX 92178
    CORONADO,CA92178     		NONE PC PROGRAM SUPPORT 7,000
    CHRIS KYLE FROG FOUNDATION
    PO BOX 1337
    MIDLOTHIAN,TX76065     		NONE PC PROGRAM SUPPORT 10,000
    FEED MY STARVING CHILDREN INC
    990 LONE OAK ROAD
    EAGAN,MN55121     		NONE PC PROGRAM SUPPORT 20,000
    FRASER
    2400 WEST 64TH STREET
    MINNEAPOLIS,MN55423     		NONE PC PROGRAM SUPPORT 5,000
    HOPEKIDS INC
    PO BOX 240721
    APPLE VALLEY,MN55124     		NONE PC PROGRAM SUPPORT 10,000
    IRAQ AND AFGHANISTAN VETERANS OF AMERICA
    119 WEST 40TH S 19TH FLOOR
    NEW YORK,NY10018     		NONE PC PROGRAM SUPPORT 5,000
    NAVY SEAL FOUNDATION
    1619 D STREET
    VIRGINIA BEACH,VA23459     		NONE PC PROGRAM SUPPORT 10,000
    ONEOC
    1901 E FOURTH STREET
    SANTA ANA,CA92705     		NONE PC MCKENNA CLAIRE FOUNDATION - PEDIATRIC BRAIN CANCER SUPPORT 7,000
    PANDA'S FOUNDATION
    PO BOX 25
    COLGATE,WI53017     		NONE PC PROGRAM SUPPORT 2,000
    PINKY SWEAR FOUNDATION
    7835 TELEGRAPH ROAD
    BLOOMINGTON,MN55438     		NONE PC PROGRAM SUPPORT 2,000
    ST DAVID'S CENTER
    3395 PLYMOUTH RD
    MINNETONKA,MN55305     		NONE PC PROGRAM SUPPORT 13,500
    ST JUDE CHILDREN'S RESEARCH HOSPITAL INC
    501 ST JUDE PLACE
    MEMPHIS,TN38105     		NONE PC CHILDHOOD CANCER RESEARCH AND TREATMENT 15,000
    THE INTREPID FALLEN HEROES FUND
    ONE INTREPID SQUARE W 46TH STREET
    12TH AVE
    NEW YORK,NY10036     		NONE PC PROGRAM SUPPORT 5,000
    THE TRANSVERSE MYELITIS ASSOCIATION
    1787 SUTTER PKWY
    POWELL,OH43065     		NONE PC PROGRAM SUPPORT 5,000
    WISHES AND MORE
    961 HILLWIND ROAD
    MINNEAPOLIS,MN55432     		NONE PC PROGRAM SUPPORT 5,000
    Total .................................bullet 3a 163,860
    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    
    4 Dividends and interest from securities....     14 79,155  
    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 71,906  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 151,061 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    151,061
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    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
    ROLES FAMILY FOUNDATION
     
    Employer identification number

    26-1584011
    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
    ROLES FAMILY FOUNDATION
          		Employer identification number
    26-1584011
    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
    THOMAS AND KARI ROLES
     
    19500 TOWERING OAKS TRAIL
     
    PRIOR LAKE, MN55372

    		$ 255,564


    (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
    ROLES FAMILY FOUNDATION
          		Employer identification number

    26-1584011
    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
    1
    		 688 SHS - SPDR S&P ETF (COST BASIS $106,230.64) $ 255,564 2020-12-29
    (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
    ROLES FAMILY FOUNDATION
          		Employer identification number

    26-1584011
    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 AccountingFeesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE 7,125 3,563   3,563

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Name of Bond End of Year Book Value End of Year Fair Market Value
    DEERE JOHN CAPITAL CORP MTN 3.9% 18,093 18,334
    DISNEY WALT CO MTN CALL MAKE WHOLE 15,351 15,365
    AFLAC INC NOTE CALL MAKE WHOLE 3.62500% 12,245 13,371
    AMAZON COM INC NOTE CALL MAKE WHOLE 10,338 11,241
    APPLE INC NOTE CALL MAKE WHOLE 2.4000% 25,069 26,224
    AT&T BROADBAND CORP NOTE 9.45500% 12,188 12,873
    ARCHER DANIELS MIDLAND CO NOTE 19,033 19,577
    BLACKROCK INC NOTE CALL MAKE WHOLE 15,230 15,651
    BLACKROCK INC NOTE CALL MAKE WHOLE 10,358 10,984
    CATERPILLAR FINL SVCS S BE MTN 2.55000% 21,603 22,921
    CATERPILLAR FINL SVCS S BE MTN 1.4500% 25,102 25,968
    CISCO SYS INC NOTE CALL MAKE WHOLE 12,000 12,610
    INTERNATIONAL BUSINESS MACHS 8.37500% 16,062 16,249
    JPMORGAN CHASE & CO NOTE 3.30000% 15,048 16,788
    MICROSOFT CORP NOTE CALL MAKE WHOLE 20,278 20,831
    ORACLE CORP NOTE CALL MAKE WHOLE 19,752 20,535
    TARGET CORP NOTE CALL MAKE WHOLE 9,267 11,052
    WAL-MART INC NOTE CALL MAKE WHOLE 10,797 11,638

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Name of Stock End of Year Book Value End of Year Fair Market Value
    JPMORGAN STRATEGIC INCOME OPPS - CL I 102,934 102,500
    VANGUARD INDEX FDS FORMERLY VANGUARD 198,509 323,518
    RIVERPARK STRATEGIC INCOME FUND INSTL 240,388 217,252
    ADOBE SYSTEMS INCORPORATED COM 9,571 15,504
    ALPHABET INC CAP STK CL A 10,401 26,290
    AMPHENOL CORP CL A 6,301 13,731
    APPLE INC 5,575 32,376
    BECTON DICKINSON CO 10,825 11,260
    BOOKING HLDGS INC COM 14,628 22,273
    BROADRIDGE FINANCIAL SOLUTIONS LLC 8,245 14,707
    CITRIX SYS INC COM 10,803 9,888
    DISNEY WALT CO 13,150 21,560
    DOLLAR TREE INC COM ISIN 7,521 8,643
    FACEBOOK INC COM USD 0.000006 CL A 17,278 26,770
    FISERV INC 16,585 17,990
    FORTUNE BRANDS HOME & SECURITY INC 3,702 6,858
    HOME DEPOT INC COM 13,138 18,859
    IAA INC COM 4,736 8,577
    KAR AUCTION SERVICES INC COM 11,002 8,654
    MARKEL CORP COM NPV 8,060 8,266
    MASTERCARD INC CL A 5,824 17,133
    MATCH GROUP INC NEW COM 8,506 12,095
    PERKINELMER INC 9,352 14,637
    RAYTHEON TECHNOLOGIES CORP COM 6,663 7,509
    S&P GLOBAL INC COM 7,875 13,149
    SHERWIN WILLIAMS CO 4,725 11,024
    STERIS PLC ORD USD 7,988 10,804
    TAKE-TWO INTERACTIVE SOFTWARE INC 12,404 17,870
    THERMO FISHER SCIENTIFIC INC 5,861 16,302
    TJX COS INC NEW COM 7,998 13,590
    ULTA BEAUTY INC 13,314 14,358
    VISA INC COM CL A 4,947 16,623
    ZEBRA TECHNOLOGIES CORP CL A 8,623 15,758
    ZOETIS INC 7,022 13,571
    ADIDAS AG ADR 5,438 8,383
    AIA GROUP LTD SPONSORED ADR ISIN 5,142 9,312
    AKZO NOBEL NV SPONSORED ADR ISIN 8,288 10,320
    AMADEUS IT GROUP S A ADS 5,320 7,360
    BAYER AG SPON ADR-EACH REPR 1 ORDNPV 11,999 6,953
    BNP PARIBAS SPONSORED ADR 11,011 10,258
    BP PLC SPONSORED ADR 10,489 6,546
    BRAMBLES LTD SPON ADR EA REPR 2 ORD 7,026 7,067
    BRITISH AMERICAN TOBACCO LVL II ADR EACH 6,200 4,799
    CLP HOLDINGS LTD ADR EACH REP 1 HKD5 6,848 6,057
    DAIKIN INDS LTD ADR ISIN #US23381B1061 5,170 11,855
    DANONE ADR-EA CNV INTO 1/5 EUR0.25(CBK) 6,889 6,683
    DIAGEO ADR EACH REPR 4 ORD GBX 6,284 6,829
    ENI SPA ADR EACH REP 2 ORD EURI(MGT) 5,837 4,532
    GEA GROUP AG SPON ADR EACH REPR 1ORD 7,856 6,592
    HDFC BANK LTD ADS EACH REPR 3 INR10(MGT) 5,436 11,200
    HITACHI LTDADR 10 COM 6,844 8,189
    INTESA SANPAOLO S P A SPON ADR ISIN 7,322 7,063
    KBC GROEP NV UNSP ADR 6,237 5,712
    KDDI CORP ADR 6,701 7,558
    KONINKLIJKE PHILIPS ADR 8,898 9,101
    KUBOTA CORP ADR-EACH CNV INTO 5 ORD NPV 9,402 12,864
    L AIR LIQUIDE ORD ADR 2,467 3,614
    LVMH MOET HENNESSY VUITTON SE ADR EACH 6,487 10,502
    MELLANOX TECHNOLOGIES LTD COM STK 2,087 0
    MITSUBISHI UFJ FINL GROUP INC SPONSORED 8,016 5,799
    NESTLE S A SPONSORED ADR ISIN 7,769 11,913
    NETEASE INC ADS EACH REPR 25 COM STK 4,986 5,459
    NINTENDO 8 ADR REP ORD 2,797 3,108
    NOVA-NORDISK A S ADR 8,634 12,363
    PROSUS N.V. SPON ADR EACH REP 3,908 4,281
    RECKITT BENCKISER GROUP PLC SPONSORED 5,453 5,258
    ROCHE HLDG LTD SPONSORED ADR ISIN 11,410 14,332
    RYANAIR HOLDINGS PLC ADR EACH 2,065 3,079
    SCHNEIDER ELECTRIC SE ADR ISIN 7,066 13,838
    SEVEN &I HOLDINGS CO LTD UNSP ADR EACH 3,547 3,030
    SILICON MOTION TECHNOLOGY CORP SPONS ADR 1,811 1,926
    SOFTBANK GROUP CORP UNSP ADR EACH REPR 5,099 11,434
    SYMRISE AG UNSP ADR EACH REPR 0.25 ORD 4,782 9,682
    TAIWAN SEMICONDUCTOR MFG LTD SPONSORED 4,347 15,811
    TC ENERGY CORPORATION COM NPV ISIN 5,023 4,968
    TECHTRONIC INDUSTRIES CO ADR EACH 1 CNV 3,820 12,909
    TENCENT HOLDINGS LIMITED UNSPON ADR 4,686 6,328
    TOKIO MARINE HOLDINGS INC ADR ISIN 2,642 3,496
    UBS GROUP CHF0.10 (REGD) ISIN 11,717 10,357
    YUM CHINA HLDGS INC COM 5,723 8,050
    ZURICH INSURANCE GROUP AG SPON ADR 10 7,311 10,733
    AIR PRODUCTS AND CHEMICALS INC 10,592 12,295
    ALTRIA GROUP INC 9,954 9,881
    APPLE INC 8,318 22,292
    BERKSHIRE HATHAWAY INC 17,050 19,941
    BLACKROCK INC 10,294 17,317
    CHEVRON CORP NEW 11,824 9,458
    CINCINNATI FINANCIAL CORP 10,042 8,125
    CISCO SYS INC COM 10,074 11,546
    COCA COLA CO 6,321 6,526
    COMCAST CORP 11,437 11,842
    CROWN CASTLE INTL CORP 11,152 12,894
    DIAGEO ADR 13,359 13,181
    DOMINION ENERGY INC 11,029 11,130
    FASTENAL 6,763 11,329
    FRANKLIN RESOURCES INC 6,119 5,048
    INTEL CORP 10,042 10,711
    JOHNSON & JOHNSON 14,859 17,312
    LOWES COMPANIES INC 10,224 16,693
    MERCK& CO INC NEW COM 11,308 12,434
    MICROSOFT CORP 10,128 16,682
    NESTLE S A SPONSORED ADR 9,414 10,497
    NINTENDO 8 ADR REP ORD 10,900 12,752
    NORFOLK SOUTHERN CORP 11,800 15,682
    PAYCHEX INC 9,331 10,623
    PFISER INC 10,489 11,190
    PHILIP MORRIS INTERNATIONAL INC 7,701 8,445
    TARGET CORP COM 5,941 13,593
    TEXAS INSTRUMENTS INC 14,393 19,039
    UNITED PARCEL SVC INC CL B 9,867 14,988
    VERIZON COMMUNICATIONS 11,063 11,750
    SPDR S&P ETF TRUST UNIT SER 1 S&P 228,828 554,090
    AMG RIVER ROAD LONG SHORT CLASS I 41,607 44,085
    LS OPORTUNITY FUND 38,801 41,857
    SILVERPEPPER MERGER ARBITRAGE INSTL 27,598 26,877
    WILLIAM BLAIR MACRO ALLOCATION FUND CL 36,415 34,627
    ACADIA HEALTHCARE COMPANY INC COM 6,581 7,690
    AMERICAN CAMPUS CMNTYS INC 4,339 4,491
    APTARGROUP INC ATR 4,260 6,571
    ARTISAN PARTNERS ASSET MGMT INC COM APAM 2,244 3,222
    ATLANTIC UN BANKSHARES CORP 4,114 3,623
    BIO RAD LABORATORIES INC CL A 4,444 8,744
    BJS WHSL CLUB HLDGS INC 4,922 7,158
    BOOZ ALLEN HAMILTON HLDG CORP CL A 3,245 7,933
    BRIGHT HORIZONS FAMILY SOLUTIONS INC 3,597 5,190
    BURLINGTON STORES INC COM ISIN BURL 2,439 7,323
    CARTERS INC COM 4,617 4,421
    CATALENT INC COM CTLT 3,221 9,470
    CAVCO INDS INC DEL 3,739 5,264
    CERENCE INC COM 4,446 10,550
    CHEMED CORP NEW COM 3,345 4,793
    COGNEX CORP COM CGNX 3,310 6,664
    CORESITE REALTY CORP COM USD0.01 3,915 4,510
    DORMAN PRODS INC COM DORM 4,056 5,730
    DRIL QUIP INC DRQ 2,879 1,392
    EAGLE MATERIALS INC 5,208 5,980
    EASTERLY GOVT PPTYS INC COM 5,404 6,342
    ELEMENT SOLUTIONS INC COM 5,452 5,372
    ENTEGRIS INC 3,640 8,457
    ENVESTNET INC 3,354 4,032
    EPAM SYS INC COM USD0.001 2,783 7,525
    EXPONENT INC EXPO 3,430 9,903
    FEDERAL SIGNAL CORP 4,841 5,340
    FIVE BELOW INC COM ISIN #US33829M1018 FIVE 2,636 6,474
    GARTNER INC COM IT 5,178 6,888
    GIBRALTAR INDS INC 5,846 9,352
    GLACIER BANCORP INC NEW COM ISIN GBCI 2,956 4,049
    GLOBUS MEDICAL INC 3,892 5,478
    GRACO INC 2,574 6,150
    GRAND CANYON ED INC 4,468 3,538
    HEXCEL CORP COM NEW 5,941 4,801
    HORIZON PHARMA PLC COM USD 4,489 4,682
    HUBSPOT INC 5,122 12,290
    HUDSON PAC PPTYS INC COM 5,041 4,372
    IDACORP INC 5,664 6,050
    INDERSOLL RAND INC COM 5,225 8,975
    INTERGER HLDGS CORP COM 3,922 4,141
    JAZZ PHARMACEUTICALS PLC COM USD0.002 5,389 6,107
    KEMPER CORP COM 4,857 4,840
    KINSALE CAP GROUP INC COM 2,826 5,003
    LANCASTER COLONY CORP 5,651 6,431
    LITHIA MOTORS INC CL A 3,424 10,243
    MARKETAXESS HLDGS INC COM ISIN MKTX 2,072 6,276
    MOLINA HEALTHCARE INC 3,827 5,742
    NEUROCRINE BIOSCIENCES INC 5,688 5,847
    NORDSON CORP COM ISIN #US6556631025 NDSN 3,847 7,837
    OGE ENERGY CORP HOLDING CO 2,120 2,103
    PARSLEY ENERGY INC CL A 8,330 6,078
    PERFORMANCE FOOD GROUP CO 2,997 3,714
    PHYSICIANS REALTY TRUST COM 5,180 5,322
    PINNACLE FINL PARTNERS INC 6,259 7,084
    PIPER SANDLER COMPANIES COM 4,144 5,247
    POLARIS INDS INC 5,145 5,050
    POOL CORP COM 1,651 5,215
    PORTLAND GEN ELEC CO COM NEW 4,545 4,705
    POWER INTEGRATIONS INC POWI 1,604 4,584
    QUAKER CHEM CORP COM ISIN #US7473161070 KWR 4,232 8,108
    RAPID7 INC COM 2,277 8,655
    RBC BEARINGS INC ROLL 3,881 8,236
    RITCHIE BROS AUCTIONEERS COM ISIN RBA 3,823 8,624
    RPM INTL INC FORMERLY RPM INC OHIO TO RPM 5,091 8,896
    SCHNEIDER NATIONAL INC CL B 3,495 3,188
    SIGNATURE BK NEW YORK N Y COM ISIN SBNY 6,812 6,900
    SILICON LABORATORIES INC OC COM 4,662 7,004
    STERIS PLC GBP0.1 STE 2,853 6,823
    SUMMIT HOTEL PPTYS INC COM 6,239 3,946
    SUN COMMUNITIES INC 4,447 8,053
    SYNEOS HEALTH INC CL A 6,943 7,903
    TCF FINANCIAL CORPORATION NEW 6,234 5,812
    TEXAS ROADHOUSE INC COM 5,558 6,878
    TORO CO COM ISIN #US8910921084 SEDOL TTC 4,354 8,251
    VAIL RESORTS INC 2,884 3,905
    VOYA FINANCIAL INC COM 6,779 7,057
    WESTERN ALLIANCE BANCORP 7,166 8,333
    ZEBRA TECHNOLOGIES CORP CL A ZBRA 2,693 11,530
    DOUBLELINE TOTAL RETURN BOND FD CL I 229,698 228,037
    BARON EMERGING MARKETS FUND INSTL 106,867 158,591

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    US Government Securities - End of Year Book Value:

    320,833
    US Government Securities - End of Year Fair Market Value:

    340,405
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2020 InvestmentsOtherSchedule2
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    DRIESHAUS EVENT DRIVEN FUND AT COST 47,008 59,147
    ISHARES TR 20 YR TR BD ETF AT COST 15,896 15,321
    ISHARES GOLD TRUST ISHARES ISIN AT COST 15,947 22,010
    JP MORGAN STRATEGIC INCOME OPPS - CL I AT COST 30,786 30,660
    LEGG MASON WESTERN ASSET MACRO OPP I AT COST 48,942 52,856

    TY 2020 OtherAssetsSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    AXA VARIABLE GROWTH ANNUITY 800,000 800,000 969,424


    TY 2020 OtherDecreasesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Description Amount
    BASIS ADJUSTMENT - NO TAX AFFECT 102,068
    BASIS ADJUSTMET FOR DONATED SECURITIES 149,334
    BASIS ADJUSTMENT FOR DONATED SECURITIES SOLD 1,347


    TY 2020 OtherExpensesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MISC EXPENSE 27 27   0


    TY 2020 OtherIncreasesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Description Amount
    RECOVERY OF PRIOR YEAR UNCASHED DISTRIBUTION CHECK 7,500


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEE 34,979 34,979   0


    TY 2020 TaxesSchedule
    Name:
    ROLES FAMILY FOUNDATION
    EIN:
    26-1584011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    2019 EXCISE TAX PAID 2,241 0   0
    2020 ESTIMATED TAX PAYMENTS 4,840 0   0
    FOREIGN TAX WITHHELD 1,221 1,221   0