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
RIVER ROAD FOUNDATION
 
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

41-2008605
B Telephone number (see instructions)

(651) 466-8213
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$10,031,468J 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) 32,785
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 122,039 118,648  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 142,371
b Gross sales price for all assets on line 6a 5,590,333
7 Capital gain net income (from Part IV, line 2)... 142,371
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)....... Click to see attachment 9,685    
12 Total. Add lines 1 through 11........ 306,880 261,019  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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)....... Click to see attachment 1,500 750 0 750
c Other professional fees (attach schedule).... Click to see attachment 110,634 88,507   22,127
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 21,929 156   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)....... Click to see attachment 25     25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 134,088 89,413 0 22,902
25 Contributions, gifts, grants paid....... 430,001 430,001
26 Total expenses and disbursements. Add lines 24 and 25 564,089 89,413 0 452,903
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -257,209
b Net investment income (if negative, enter -0-) 171,606
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 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.............      
2 Savings and temporary cash investments......... 1,619,417 1,246,463 1,246,463
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
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)....... 5,212,032 Click to see attachment4,754,115 7,957,257
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment569,136 826,597
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment3,642 Click to see attachment1,151 Click to see attachment1,151
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,835,091 6,570,865 10,031,468
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
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........ 6,835,091 6,570,865
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)..... 6,835,091 6,570,865
30 Total liabilities and net assets/fund balances (see instructions). 6,835,091 6,570,865
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
6,835,091
2
Enter amount from Part I, line 27a .....................
2
-257,209
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
6,577,882
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
7,017
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
6,570,865
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 180. CARLISLE COS INC   2018-03-21 2020-01-07
b 240. E PLUS INC   2018-03-22 2020-01-07
c 32. CARLISLE COS INC   2018-03-21 2020-01-08
d 80. E PLUS INC   2017-03-09 2020-01-08
e 30. WATSCO INC CL A   2019-04-02 2020-01-09
30. WATSCO INC CL A   2019-04-01 2020-01-10
20. E PLUS INC   2017-03-02 2020-01-13
70. WATSCO INC CL A   2019-03-06 2020-01-13
20. E PLUS INC   2017-03-02 2020-01-14
90. WATSCO INC CL A   2019-03-06 2020-01-14
50. E PLUS INC   2017-03-02 2020-01-15
40. WATSCO INC CL A   2019-03-07 2020-01-15
60. E PLUS INC   2017-02-28 2020-01-16
50. WATSCO INC CL A   2019-03-07 2020-01-16
20. WATSCO INC CL A   2019-03-07 2020-01-17
80. WATSCO INC CL A   2019-03-08 2020-01-21
20. E PLUS INC   2016-01-11 2020-01-22
1. MERCK & CO INC   1911-11-11 2020-01-22
20. E PLUS INC   2016-01-11 2020-01-23
20. E PLUS INC   2016-01-11 2020-02-05
20. E PLUS INC   2016-01-11 2020-02-06
30. E PLUS INC   2016-01-11 2020-02-07
30. E PLUS INC   2016-01-11 2020-02-10
30. E PLUS INC   2016-01-11 2020-02-11
35. E PLUS INC   2016-08-04 2020-02-12
190. CORE LABS NV   2020-01-07 2020-03-11
520. SQUARE INC A   2018-10-19 2020-03-12
1040. CORE LABS NV   2020-01-06 2020-03-12
856. FIVE BELOW   2016-12-14 2020-03-13
74. MARATHON PETROLEUM CORP   2016-12-13 2020-03-13
28. MOHAWK INDS INC COM   2013-06-19 2020-03-13
250. CORE LABS NV   2020-01-15 2020-03-13
9. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
9. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
15. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
2. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
1. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
91. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
20. ROYAL CARIBBEAN CRUISES LTD   2013-06-19 2020-03-13
66. WABCO HLDGS INC   2018-08-27 2020-03-16
330. CORE LABS NV   2020-01-03 2020-03-16
30. MANPOWERGROUP INC   2018-08-15 2020-03-19
130. WABCO HLDGS INC   2019-08-19 2020-03-20
429. WABCO HLDGS INC   2018-08-29 2020-03-20
162. CHEVRONTEXACO CORP COM   2003-01-13 2020-03-24
426. EXXON MOBIL CORP   2015-07-22 2020-03-24
1167. INVESCO EXCHANGE TRADED FD TR ETF   2017-04-25 2020-03-24
711. ISHARES MSCI EMERGING MARKETS ETF   2017-04-20 2020-03-24
323. WORKDAY INC   2017-11-07 2020-03-25
260. WABCO HLDGS INC   2019-05-13 2020-04-01
699. INVESTCO EXCHANGE TRADED ETF   2011-10-26 2020-04-03
732. CLEAN HBRS INC   2019-11-06 2020-04-06
264. ZOOM VIDEO COMMUNICATIONS A   2020-03-12 2020-04-06
875. RAYTHEON TECHNOLOGIES CORP COM   2019-02-22 2020-04-08
60. VIASAT INC   2017-06-09 2020-04-14
110. VIASAT INC   2017-06-05 2020-04-15
140. VIASAT INC   2017-06-05 2020-04-16
90. VIASAT INC   2017-06-05 2020-04-17
84. MASTERCARD INC   2013-06-19 2020-04-20
220. MASTERCARD INC   2019-08-13 2020-04-20
105. VIASAT INC   2017-06-12 2020-04-20
542. INTERNATIONAL BUSINESS MACHS CORP   2004-08-26 2020-04-22
.55 RAYTHEON TECHNOLOGIES CORP COM   2019-02-22 2020-04-27
3100. BANK OF AMERICA CORP   2014-02-13 2020-05-04
728. HONEYWELL INTL INC COM   2009-09-17 2020-05-05
1300. US BANCORP DEL COM NEW   2010-03-24 2020-05-05
294. ISHARES DOW JONES US UTILITES ETF   2016-11-02 2020-05-07
721. STANDARD & POORS DEPOSITARY RECEIPTS   2015-01-13 2020-05-07
8. GRAHAM HOLDINGS CO   2018-10-11 2020-05-11
180. MANPOWERGROUP INC   2018-08-15 2020-05-11
70. VIASAT INC   2017-06-12 2020-05-11
7. GRAHAM HOLDINGS CO   2018-10-11 2020-05-12
195. MANPOWERGROUP INC   2018-08-15 2020-05-12
429. SPDR GOLD TRUST   2020-01-02 2020-05-12
90. VIASAT INC   2017-06-12 2020-05-12
13. GRAHAM HOLDINGS CO   2018-10-11 2020-05-14
150. VIASAT INC   2018-02-15 2020-05-14
10. GRAHAM HOLDINGS CO   2018-10-12 2020-05-15
250. VIASAT INC   2017-07-26 2020-05-15
11. GRAHAM HOLDINGS CO   2016-06-15 2020-05-18
400. VIASAT INC   2017-07-19 2020-05-18
350. VIASAT INC   2020-01-09 2020-05-19
1155. APPLIED INDL TECHNOLOGIES INC   2020-01-30 2020-05-22
130. ARMSTRONG WORLD INDS INC NEW   2020-03-18 2020-05-22
941. ARMSTRONG WORLD INDS INC NEW   2014-11-04 2020-05-22
895. ARROW ELECTRONICS INC   2008-12-01 2020-05-22
870. ARROW ELECTRONICS INC   2019-07-31 2020-05-22
102. AVERY DENNISON CORP COM   2020-02-27 2020-05-22
1955. AVERY DENNISON CORP COM   2011-09-26 2020-05-22
1843. WR BERKLEY CORP   2009-12-03 2020-05-22
64. CARLISLE COS INC   2020-03-13 2020-05-22
1507. CARLISLE COS INC   2009-04-09 2020-05-22
2425. DENTSPLY SIRONA INC   2020-03-18 2020-05-22
1410. DONALDSON CO INC   2019-01-09 2020-05-22
600. DONALDSON CO INC   2020-03-19 2020-05-22
1040. ENPRO INDUSTRIES INC   2018-05-24 2020-05-22
580. E PLUS INC   2016-08-03 2020-05-22
655. FIRSTCASH INC   2020-02-25 2020-05-22
1385. FIRSTCASH INC   2015-04-14 2020-05-22
2205. FLOWSERVE CORP COM   2020-03-24 2020-05-22
262. GRAHAM HOLDINGS CO   2014-09-22 2020-05-22
1230. HD SUPPLY HOLDINGS INC   2019-05-09 2020-05-22
3575. HD SUPPLY HOLDINGS INC   2019-05-22 2020-05-22
1850. HOULIHAN LOKEY INC   2019-12-13 2020-05-22
990. HOWARD HUGHES CORP/THE   2017-10-11 2020-05-22
445. HOWARD HUGHES CORP/THE   2020-03-18 2020-05-22
1015. INSIGHT ENTERPRISES INC COM   2020-02-14 2020-05-22
730. INTERPUBLIC GROUP COS INC COM   2019-07-31 2020-05-22
6655. INTERPUBLIC GROUP COS INC COM   2014-04-30 2020-05-22
428. J P MORGAN CHASE & CO   2000-12-04 2020-05-22
1190. KENNEDY WILSON HOLDINGS INC   2020-02-28 2020-05-22
5670. KENNEDY WILSON HOLDINGS INC   2016-08-23 2020-05-22
995. MSC INDL DIRECT CO INC CL A   2016-01-12 2020-05-22
1088. MANPOWERGROUP INC   2014-12-01 2020-05-22
702. MORGAN STANLEY DEAN WITTER & CO COM NEW   2014-05-20 2020-05-22
1955. PENSKE AUTOMOTIVE GROUP INC   2016-05-17 2020-05-22
570. PHIBRO ANIMAL HEALTH CORPORATION   2019-05-22 2020-05-22
590. PHIBRO ANIMAL HEALTH CORPORATION   2019-03-11 2020-05-22
609. ROBERT HALF INTL INC   2012-10-08 2020-05-22
2230. ROBERT HALF INTL INC   2019-06-12 2020-05-22
575. RYDER SYSTEM INC   2019-08-01 2020-05-22
1994. RYDER SYSTEM INC   2012-08-17 2020-05-22
1460. SCHEIN HENRY INC COMMON STOCK   2020-03-16 2020-05-22
2130. SMITH A O CORP   2020-03-04 2020-05-22
4508. TRIMAS CORP   2015-06-01 2020-05-22
1255. TRIMAS CORP   2019-08-01 2020-05-22
4590. TRINITY INDS INC   2018-02-06 2020-05-22
645. TRINITY INDS INC   2019-07-31 2020-05-22
63. VALMONT INDS INC   2019-08-01 2020-05-22
645. VALMONT INDS INC   2014-01-24 2020-05-22
1276. WOODWARD INC   2014-03-26 2020-05-22
2655. ZIONS BANCORP COM   2019-06-11 2020-05-22
1382. ZIONS BANCORP COM   2013-04-11 2020-05-22
395. GENPACT LIMITED   2020-03-18 2020-05-22
5275. GENPACT LIMITED   2014-03-03 2020-05-22
165. WHITE MTNS INS GROUP LTD   2017-01-24 2020-05-22
459. SPDR GOLD TRUST   2020-01-02 2020-06-10
2319. BRISTOL MEYER SQUIBB   2020-04-22 2020-06-17
1517. CHEVRONTEXACO CORP COM   2020-05-28 2020-07-08
1766. ENERGY SELECT SECTOR SPDR FD   2020-05-28 2020-07-08
459. SPDR GOLD TRUST   2020-01-02 2020-07-10
1. GREEN MTN COFFEE INC   1911-11-11 2020-07-15
1564. ISHARES S P 100 INDEX ETF   2020-05-07 2020-08-11
459. SPDR GOLD TRUST   2020-01-02 2020-08-11
459. SPDR GOLD TRUST   2020-01-02 2020-09-15
459. SPDR GOLD TRUST   2020-01-02 2020-10-15
824. PHILLIPS 66   2014-01-16 2020-10-19
1116. PHILLIPS 66   2020-03-24 2020-10-19
278. INVESCO QQQ TRUST ETF   2012-08-17 2020-10-21
459. SPDR GOLD TRUST   2020-01-02 2020-11-17
459. SPDR GOLD TRUST   2020-01-02 2020-12-04
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(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 28,695   19,371 9,324
b 20,492   18,473 2,019
c 5,105   3,408 1,697
d 6,929   5,854 1,075
e 5,278   4,371 907
5,269   4,369 900
1,719   1,288 431
12,329   10,021 2,308
1,723   1,284 439
15,892   12,749 3,143
4,358   3,203 1,155
7,008   5,650 1,358
5,165   3,811 1,354
8,798   7,062 1,736
3,512   2,811 701
14,165   11,227 2,938
1,718   917 801
56     56
1,728   917 811
1,654   917 737
1,753   917 836
2,587   1,375 1,212
2,487   1,375 1,112
2,568   1,341 1,227
2,980   1,453 1,527
2,021   7,801 -5,780
29,240   40,310 -11,070
8,994   41,924 -32,930
59,354   35,035 24,319
1,738   3,647 -1,909
2,706   3,277 -571
2,109   10,013 -7,904
262   309 -47
262   309 -47
436   514 -78
58   69 -11
29   34 -5
2,648   3,121 -473
582   686 -104
8,380   8,161 219
2,683   13,058 -10,375
2,100   2,624 -524
16,928   17,225 -297
55,863   51,286 4,577
10,455   5,535 4,920
14,958   34,999 -20,041
24,156   28,440 -4,284
23,200   33,895 -10,695
44,102   35,039 9,063
35,128   34,237 891
38,773   21,172 17,601
34,769   62,017 -27,248
30,970   29,245 1,725
51,761   69,659 -17,898
2,589   4,307 -1,718
4,439   7,895 -3,456
5,455   10,036 -4,581
3,712   6,448 -2,736
21,267   4,951 16,316
55,698   59,981 -4,283
4,390   7,513 -3,123
64,821   70,124 -5,303
34   44 -10
69,997   61,181 8,816
99,050   28,019 71,031
43,705   34,200 9,505
40,430   35,061 5,369
208,067   142,336 65,731
2,746   4,627 -1,881
12,573   15,743 -3,170
2,752   5,005 -2,253
2,384   4,049 -1,665
13,187   16,373 -3,186
21   21  
3,364   6,380 -3,016
4,150   7,509 -3,359
5,164   10,393 -5,229
3,216   5,764 -2,548
8,560   17,105 -8,545
3,719   5,720 -2,001
15,203   26,432 -11,229
13,465   24,810 -11,345
63,451   71,128 -7,677
9,219   8,912 307
66,730   39,234 27,496
59,485   24,088 35,397
57,824   62,684 -4,860
10,906   11,902 -996
209,033   173,185 35,848
104,070   44,742 59,328
7,391   8,157 -766
174,033   110,663 63,370
101,873   82,142 19,731
63,466   64,753 -1,287
27,007   20,803 6,204
46,181   73,878 -27,697
44,491   30,176 14,315
45,070   48,852 -3,782
95,301   57,595 37,706
55,283   51,057 4,226
91,001   122,708 -31,707
37,561   53,151 -15,590
109,170   133,951 -24,781
110,276   90,876 19,400
46,873   119,656 -72,783
21,069   18,883 2,186
49,735   58,014 -8,279
11,942   16,838 -4,896
108,873   116,935 -8,062
38,271   34,912 3,359
16,039   18,092 -2,053
76,420   102,988 -26,568
64,965   71,868 -6,903
76,549   72,740 3,809
28,280   35,058 -6,778
66,348   66,784 -436
14,074   15,496 -1,422
14,568   17,252 -2,684
28,847   16,001 12,846
105,629   116,454 -10,825
17,942   30,407 -12,465
62,219   104,083 -41,864
82,875   74,475 8,400
90,072   82,655 7,417
99,041   104,140 -5,099
27,572   33,175 -5,603
91,052   101,940 -10,888
12,795   12,777 18
6,670   8,447 -1,777
68,288   89,863 -21,575
78,485   64,536 13,949
80,145   99,624 -19,479
41,718   47,616 -5,898
13,373   9,275 4,098
178,584   98,745 79,839
152,383   146,138 6,245
24   24  
132,438   140,825 -8,387
130,804   139,754 -8,950
63,707   70,001 -6,294
23   22 1
252     252
242,759   207,840 34,919
26   22 4
29   25 4
27   24 3
41,259   69,857 -28,598
55,880   70,216 -14,336
79,463   18,965 60,498
29   26 3
28   25 3
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
      276
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       9,324
b       2,019
c       1,697
d       1,075
e       907
      900
      431
      2,308
      439
      3,143
      1,155
      1,358
      1,354
      1,736
      701
      2,938
      801
      56
      811
      737
      836
      1,212
      1,112
      1,227
      1,527
      -5,780
      -11,070
      -32,930
      24,319
      -1,909
      -571
      -7,904
      -47
      -47
      -78
      -11
      -5
      -473
      -104
      219
      -10,375
      -524
      -297
      4,577
      4,920
      -20,041
      -4,284
      -10,695
      9,063
      891
      17,601
      -27,248
      1,725
      -17,898
      -1,718
      -3,456
      -4,581
      -2,736
      16,316
      -4,283
      -3,123
      -5,303
      -10
      8,816
      71,031
      9,505
      5,369
      65,731
      -1,881
      -3,170
      -2,253
      -1,665
      -3,186
       
      -3,016
      -3,359
      -5,229
      -2,548
      -8,545
      -2,001
      -11,229
      -11,345
      -7,677
      307
      27,496
      35,397
      -4,860
      -996
      35,848
      59,328
      -766
      63,370
      19,731
      -1,287
      6,204
      -27,697
      14,315
      -3,782
      37,706
      4,226
      -31,707
      -15,590
      -24,781
      19,400
      -72,783
      2,186
      -8,279
      -4,896
      -8,062
      3,359
      -2,053
      -26,568
      -6,903
      3,809
      -6,778
      -436
      -1,422
      -2,684
      12,846
      -10,825
      -12,465
      -41,864
      8,400
      7,417
      -5,099
      -5,603
      -10,888
      18
      -1,777
      -21,575
      13,949
      -19,479
      -5,898
      4,098
      79,839
      6,245
       
      -8,387
      -8,950
      -6,294
      1
      252
      34,919
      4
      4
      3
      -28,598
      -14,336
      60,498
      3
      3
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 142,371
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 2,385
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 2,385
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 2,385
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 13,804
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 13,804
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 11,419
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet2,388 RefundedBullet 11 9,031
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 addressbullet  
    14
    The books are in care ofbulletU S BANK NATIONAL ASSOCIATION Telephone no.bullet (855) 452-4077

    Located atbullet101 E 5TH STREETST PAULMN ZIP+4bullet55101
    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
    BRUCE A LILLY PRESIDENT/DIRECTOR
    0     		0    
    516 SUMMIT AVE
    ST PAUL,MN55102
    BRUCE LILLY JR TREASURER`
    0     		0    
    516 SUMMIT AVE
    ST PAUL,MN55102
    RUBY PEDIANGCO SECRETARY
    0     		0    
    800 NICOLLET MALL STE 800
    MINNEAPOLIS,MN55402
    ROBERT P LILLY VICE PRESIDENT
    0     		0    
    516 SUMMIT AVE
    ST PAUL,MN55102
    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.........................bullet  
    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
    7,695,947
    b
    Average of monthly cash balances.......................
    1b
    1,660,621
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,356,568
    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
    9,356,568
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    140,349
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,216,219
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    460,811
    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
    460,811
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    2,385
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,385
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    458,426
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    5,000
    5
    Add lines 3 and 4............................
    5
    463,426
    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
    463,426
    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
    452,903
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    452,903
    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
    452,903
    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 7 463,426
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 414,031
    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: bullet$ 452,903
    a Applied to 2019, but not more than line 2a 414,031
    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..... 38,872
    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 ..........     		424,554
    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)
    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).)
    NONE
    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.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    RUBY PEDIANGCO
    800 NICOLLET MALL STE 800
    MINNEAPOLIS,MN55402
    (612) 303-2847
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS MAY BE SUBMITTED IN LETTER FORM OUTLINING THE REQUEST TOGETHER WITH SUCH SUPPORTING MATERIALS AS THE APPLICANT DESIRES.
    cAny submission deadlines:
    NOVEMBER 1ST
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FDN PRIMARILY MAKES GRANTS TO EDUACATIONAL, CULTURAL, YOUTH, ENVIRONME NTAL, EDUCATION AND COMMUNITY SUPPORT ORGS IN MN. NO GRANTS ARE MADE TO INDIVIDUALS OR ORGS REQUIRING EXPENDITURE RESPONSIBILITY.
    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
    AMHERST H WILDER FOUNDATION
    451 LEXINGTON PKWY N
    SAINT PAUL,MN55104     		NONE PC GENERAL OPERATIONS 5,000
    CABLE NATURAL HISTORY MUSEUM
    PO BOX 416
    CABLE,WI548210416     		NONE PC GENERAL OPERATIONS 5,000
    COLGATE UNIVERSITY
    13 OAK DRIVE
    HAMILTON,NY13346     		NONE PC GENERAL OPERATING 10,000
    FRIENDS OF THE MISSISSIPPI RIVER
    360 ROBERT STREET NORTH
    SAINT PAUL,MN55101     		NONE PC GENERAL OPERATING 10,000
    MISSISSIPPI PARK CONNECTION
    111 KELLOGG BOULEVARD
    SAINT PAUL,MN55101     		NONE PC GENERAL OPERATING 10,000
    PUBLIC ART ST PAUL
    351 KELLOGG BLVD E
    ST PAUL,MN55101     		NONE PC GENERAL OPERATING 5,000
    SANKATY HEAD FOUNDATION INC
    PO BOX 875
    SIACONSET,MA02564     		NONE PC GENERAL OPERATING 5,000
    SOMERSET SCHOLARSHIP FUND
    1416 DODD ROAD
    MENDOTA HEIGHTS,MN55118     		NONE PC GENERAL OPERATING 5,000
    ST PAUL ACADEMY AND SUMMIT SCHOOL
    1712 RANDOLPH AVE
    ST PAUL,MN551052194     		NONE PC GENERAL OPERATING 55,000
    THE FAMILY PARTNERSHIP
    414 S 8TH STREEET
    MINNEAPOLIS,MN554041081     		NONE PC GENERAL OPERATING 25,000
    NEIGHBORHOOD HOUSE
    179 ROBIE STREET E
    ST PAUL,MN55107     		NONE PC GENERAL OPERATING 75,000
    PARK SQUARE THEATRE
    408 ST PETER STREET
    ST PAUL,MN55102     		NONE PC GENERAL OPERATING 5,000
    SPRINGBOARD FOR THE ARTS
    308 EAST PRINCE ST 270
    ST PAUL,MN55101     		NONE PC GENERAL OPERATING 5,000
    TEXTILE CENTER
    3000 UNIVERSITY AVE SE 100
    MINNEAPOLIS,MN55414     		NONE PC GENERAL OPERATING 15,000
    THE MICHAEL J FOX FOUNDATION
    FOR PARKINSONS DISEASE
    PO BOX 4777
    New York,NY10163     		NONE PC GENERAL OPERATING 5,000
    HALLIE Q BROWN COMMUNITY CENTER
    270 NORTH KENT ST
    ST PAUL,MN55102     		NONE PC GENERAL OPERATING 70,000
    MIGIZI COMMUNICATIONS INC
    PO BOX 17125
    MINNEAPOLIS,MN55417     		NONE PC GENERAL OPERATING 50,000
    READING POWER
    736 N WESTERN AVE STE 226
    LAKE FOREST,IL60045     		NONE PC GENERAL OPERATING 5,000
    PLANNED PARENTHOOD OF MN ND AND SD
    671 VANDALIA STREET STE 323
    ST PAUL,MN55114     		NONE PC GENERAL OPERATING 5,000
    THE SAINT PAUL PARKS CONSERVANCY
    1600 UNIVERSITY AVENUE SUITE 305
    SAINT PAUL,MN55104     		NONE PC GENERAL OPERATING 10,000
    AMERICAN CAMP ASSOCIATION
    5000 STATE ROAD 67 NORTH
    MARTINSVILLE,IN46151     		NONE PC GENERAL OPERATING 10,001
    FRIENDS OF THE PARKS
    1660 LAUREL AVENUE
    SAINT PAUL,MN55104     		NONE PC GENERAL OPERATING 5,000
    WALKER ART CENTER
    725 VINELAND PLACE
    MINNEAPOLIS,MN55403     		NONE PC GENERAL OPERATING 10,000
    TWIN CITIES HABITAT FOR HUMANITY
    1954 UNIVERSITY AVE W
    SAINT PAUL,MN55104     		NONE PC GENERAL OPERATING 10,000
    MINNEAPOLIS INSTITUTE OF ARTS
    2400 THIRD AVE SOUTH
    MINNEAPOLIS,MN55404     		NONE PC GENERAL OPERATING 10,000
    NANTUCKET HISTORICAL ASSOCIATION
    PO BOX 1016
    NANTUCKET,MA02554     		NONE PC GENERAL OPERATING 5,000
    Total .................................bullet 3a 430,001
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 122,039  
    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 ............     		    18 142,371  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aFEDERAL TAX REFUND     		    1 4,685  
    bGRANT RECOVERY     1 5,000  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   274,095  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    274,095
    (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
    RIVER ROAD FOUNDATION
     
    Employer identification number

    41-2008605
    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
    RIVER ROAD FOUNDATION
          		Employer identification number
    41-2008605
    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
    R C LILLY FOUNDATION AGENCY
    PO BOX 0634
     
    MILWAUKEE, WI53201

    		$ 32,785


    (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
    RIVER ROAD FOUNDATION
          		Employer identification number

    41-2008605
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    RIVER ROAD FOUNDATION
          		Employer identification number

    41-2008605
    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:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREP FEES 1,500 750   750

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Name of Stock End of Year Book Value End of Year Fair Market Value
    783549108 RYDER SYSTEM INC    
    053611109 AVERY DENNISON CORP    
    084423102 WR BERKLEY CORP    
    896215209 TRIMAS CORP    
    G3922B107 GENPACT LIMITED    
    907818108 UNION PACIFIC CORP 140,758 265,064
    03027X100 AMERICAN TOWER CORP 140,001 243,539
    02079K107 ALPHABET INC CL C 3,147 12,263
    464287234 ISHARES MSCI EMERGIN    
    922908553 VANGUARD REIT ETF 87,996 91,130
    980745103 WOODWARD INC    
    92552V100 VIASAT INC    
    718546104 PHILLIPS 66    
    G1151C101 ACCENTURE PLC CL A 10,316 70,788
    911312106 UNITED PARCEL SERVIC 139,789 233,066
    56585A102 MARATHON PETROLEUM C    
    460690100 INTERPUBLIC GROUP CO    
    770323103 ROBERT HALF INTL INC    
    56418H100 MANPOWERGROUP INC    
    478160104 JOHNSON JOHNSON 10,271 34,624
    291011104 EMERSON ELECTRIC CO 11,383 29,014
    882508104 TEXAS INSTRUMENTS IN 3,471 23,142
    617446448 MORGAN STANLEY    
    30231G102 EXXON MOBIL CORP    
    920253101 VALMONT INDS INC    
    489398107 KENNEDY WILSON HOLDI    
    883556102 THERMO FISHER SCIENT 139,885 253,384
    060505104 BANK OF AMERICA CORP    
    33829M101 FIVE BELOW    
    989701107 ZIONS BANCORPORATION    
    44267D107 HOWARD HUGHES CORP/T    
    384637104 GRAHAM HOLDINGS CO    
    34959E109 FORTINET INC 139,800 276,860
    166764100 CHEVRON CORPORATION    
    78464A870 SPDR S&P BIOTECH ETF 105,413 155,421
    896522109 TRINITY INDS INC    
    294268107 E PLUS INC    
    33767D105 FIRSTCASH INC    
    459200101 INTERNATIONAL BUSINE    
    742718109 PROCTER GAMBLE CO 6,468 21,010
    30303M102 FACEBOOK INC A 140,123 421,486
    902973304 US BANCORP    
    98138H101 WORKDAY INC    
    037833100 APPLE INC 132,916 1,053,028
    67066G104 NVIDIA CORP 139,693 263,711
    438516106 HONEYWELL INTERNATIO    
    46625H100 J P MORGAN CHASE CO    
    33738R118 FT NASDAQ TECH DVD I 69,986 118,382
    142339100 CARLISLE COS INC    
    G9618E107 WHITE MTNS INS GROUP    
    002824100 ABBOTT LABORATORIES 140,491 182,191
    580135101 MCDONALDS CORP 139,303 213,507
    594918104 MICROSOFT CORP 141,877 273,577
    78462F103 SPDR S P 500 ETF 243,145 270,315
    464287697 ISHARES DOW JONES US    
    042735100 ARROW ELECTRONICS IN    
    553530106 MSC INDL DIRECT CO I    
    04247X102 ARMSTRONG WORLD INDS    
    70959W103 PENSKE AUTOMOTIVE GR    
    68389X105 ORACLE CORPORATION 5,958 22,512
    V7780T103 ROYAL CARIBBEAN CRUI    
    608190104 MOHAWK INDS INC CO    
    57636Q104 MASTERCARD INC    
    464287325 ISHARES SP GLOBAL HE 104,543 144,720
    20030N101 COMCAST CORP CL A 140,028 206,089
    46090E103 INVESCO QQQ TRUST ET 187,867 287,700
    46138E875 INVESCO EXCHANGE TRA    
    46137V886 INVESTCO EXCHANGE TR    
    00724F101 ADOBE SYS INC 139,069 230,055
    92927K102 WABCO HLDGS INC    
    852234103 SQUARE INC A    
    29355X107 ENPRO INDUSTRIES INC    
    184496107 CLEAN HBRS INC    
    92343V104 VERIZON COMMUNICATIO 139,650 148,285
    755111507 RAYTHEON COMPANY    
    609207105 MONDELEZ INTERNATION 139,903 164,885
    40416M105 HD SUPPLY HOLDINGS I    
    17275R102 CISCO SYSTEMS INC 139,961 131,386
    942622200 WATSCO INC CL A 139,865 180,787
    441593100 HOULIHAN LOKEY INC    
    023135106 AMAZON.COM INC 140,054 211,700
    74340W103 PROLOGIS INC 140,245 156,466
    71742Q106 PHIBRO ANIMAL HEALTH    
    257651109 DONALDSON CO INC    
    030420103 AMERICAN WATER WORKS 139,869 192,605
    053015103 AUTOMATIC DATA PROCE 139,323 166,685
    126650100 CVS HEALTH CORPORATI 140,127 143,157
    64110L106 NETFLIX.COM INC 139,752 184,389
    79466L302 SALESFORCE COM INC 140,596 190,486
    70450Y103 PAYPAL HOLDINGS INC 134,878 238,416
    25754A201 DOMINOS PIZZA INC 139,826 146,482
    01609W102 ALIBABA GROUP HOLDIN 139,992 161,515
    437076102 HOME DEPOT INC 136,377 143,435

    TY 2020 InvestmentsOtherSchedule2
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    81369Y308 CONSUMER STAPLES SPD AT COST 76,679 94,295
    81369Y803 TECHNOLOGY SELECT SE AT COST 70,015 94,004
    33733E500 FIRST TRUST DOW JONE AT COST 69,928 181,053
    81369Y407 CONSUMER DISCRETIONA AT COST 69,922 90,841
    301505707 ROBO STOX GLBL ROBOT AT COST 69,940 100,773
    33733E302 FIRST TR EXCHANGE-TR AT COST 69,932 92,532
    78463V107 SPDR GOLD TRUST AT COST 72,741 81,867
    92204A884 VANGUARD TELECOM SER AT COST 69,979 91,232

    TY 2020 OtherAssetsSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME   0 0
    000000000 MISCELLANEOUS ENTRY 3,642 1,151 1,151


    TY 2020 OtherDecreasesSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Description Amount
    ROC ADJ OF CY SALES 1,903
    KENNEDY WILSON HOLDINGS ROC ADJ 4,262
    VANGUARD REIT ROC ADJ 837
    ROUNDING ADJUSTMENT 15


    TY 2020 OtherExpensesSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE/TAX 25 0   25


    TY 2020 OtherIncomeSchedule2
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FEDERAL TAX REFUND 4,685 0  
    GRANT RECOVERY 5,000 0  


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUST FEES 110,634 88,507   22,127


    TY 2020 TaxesSchedule
    Name:
    RIVER ROAD FOUNDATION
    EIN:
    41-2008605
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 156 156   0
    FEDERAL TAX PAYMENT - PRIOR YE 7,969 0   0
    FEDERAL ESTIMATES - PRINCIPAL 13,804 0   0