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
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
CARL & CAROLINE SWASON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)4935 BATTLEFIELD DRIVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
OMAHA, NE68152
A Employer identification number

47-6024644
B Telephone number (see instructions)

(402) 453-7500
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$24,465,890J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 500,268 492,348  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 199,237
b Gross sales price for all assets on line 6a 2,973,677
7 Capital gain net income (from Part IV, line 2)... 199,237
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 699,505 691,585  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 60,475 40,475   20,000
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 135,718 135,718    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 29,207 3,441    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 225,400 179,634   20,000
25 Contributions, gifts, grants paid....... 1,230,000 1,230,000
26 Total expenses and disbursements. Add lines 24 and 25 1,455,400 179,634   1,250,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -755,895
b Net investment income (if negative, enter -0-) 511,951
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
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............. 59,943 69,468 69,468
2 Savings and temporary cash investments......... 300,212 229,268 229,268
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 8,197,271 Click to see attachment7,296,346 18,033,455
c Investments—corporate bonds (attach schedule)....... 6,101,555 Click to see attachment6,309,123 6,133,699
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,658,981 13,904,205 24,465,890
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 SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 14,658,981 13,904,205
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 14,658,981 13,904,205
31 Total liabilities and net assets/fund balances (see instructions). 14,658,981 13,904,205
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 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
14,658,981
2
Enter amount from Part I, line 27a .....................
2
-755,895
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,119
4
Add lines 1, 2, and 3 ..........................
4
13,904,205
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
13,904,205
Form 990-PF (2018)
Form 990-PF (2018)
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 BRIDGES ST 4026 P 2018-01-01 2018-12-31
b BRIDGES LT 4026 P 2001-01-01 2018-12-31
c BRIDGES LT 4026 P 2001-01-01 2018-12-31
d BRIDGES LT 4034 P 2001-01-01 2018-12-31
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 373,072   379,397 -6,325
b 1,250,111   1,253,213 -3,102
c 221,471   236,123 -14,652
d 1,129,023   905,707 223,316
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       -6,325
b       -3,102
c       -14,652
d       223,316
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 2 199,237
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
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 1,123,000 25,424,107 0.044171
2016 985,858 22,740,301 0.043353
2015 1,141,911 19,914,380 0.057341
2014 969,085 23,392,118 0.041428
2013 971,296 20,856,944 0.046569
2
Total of line 1, column (d) .....................
2
0.232862
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.046572
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
27,129,354
5
Multiply line 4 by line 3......................
5
1,263,468
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
5,120
7
Add lines 5 and 6........................
7
1,268,588
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,250,000
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
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 includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 10,239
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% 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  
3 Add lines 1 and 2........................... 3 10,239
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 10,239
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 24,504
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 24,504
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
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 14,265
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet14,265 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for 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)
    bulletNE
    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 2018 or the taxable year beginning in 2018? 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 (2018)
    Form 990-PF (2018)
    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 ofbulletTHE FOUNDATION Telephone no.bullet (402) 453-7500

    Located atbullet4935 BATTLEFIELD DIVEOMAHANE ZIP+4bullet68152
    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 2018, 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
     
    No
    ........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 2018?.............
    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 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    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 2018 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 2018.)..................
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    FREDERICK S BUCHOLZ PRESIDENT
    1.00     		0 0 0
    4930 BATTLEFIELD DR
    OMAHA,NE68152
    MICHAEL JONES SECRETARY
    1.00     		0 0 0
    8805 INDIAN HILLS DR
    OMAHA,NE68114
    EDWARD J FITZPATRICK TREASURER
    1.00     		0 0 0
    4930 BATTLEFIELD DR
    OMAHA,NE68152
    LORI S BUCHOLZ DIRECTOR
    1.00     		0 0 0
    4930 BATTLEFIELD DR
    OMAHA,NE68152
    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  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    27,079,940
    b
    Average of monthly cash balances.......................
    1b
    462,551
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    27,542,491
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    27,542,491
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    413,137
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    27,129,354
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,356,468
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,356,468
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    10,239
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,239
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,346,229
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,346,229
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,346,229
    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
    1,250,000
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    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
    1,250,000
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,250,000
    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 (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 1,346,229
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 1,226,319
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,250,000
    a Applied to 2017, but not more than line 2a 1,226,319
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 23,681
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2018.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		1,322,548
    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) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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 2018, 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) 2018 (b) 2017 (c) 2016 (d) 2015
             
    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).)
    FREDERICK S BUCHOLZ
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    FREDERICK S BUCHOLZ
    4935 BATTLEFIELD DRIVE
    OMAHA,NE68152
    (402) 453-7500
    bThe form in which applications should be submitted and information and materials they should include:
    NONE SPECIFIED
    cAny submission deadlines:
    N/A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    N/A
    Form 990-PF (2018)
    Form 990-PF (2018)
    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
    VILLAGE OF WATERLOO
    PO BOX 127
    WATERLOO,NE68069     		N/A   GENERAL FUND FOR FIRE DEPARTMENT 10,000
    COLORADO STATE UNIV FOUNDATION
    601 SOUTH HOWES STREET
    FORT COLLINS,CO80523     		NONE   EQUINE OUTREACH & INDUSTRY RELATIONS 200,000
    GRETCHEN SWANSON CENTER FOR NUTRITI
    8401 WEST DODGE ROAD
    OMAHA,NE68114     		NONE   UNRESTRICTED -GENERAL OPERATING FUND 115,000
    OHIO QUARTER HOURSE ASSN FDN
    PO BOX 209
    RICHWOOD,OH43344     		N/A   UNRESTRICTED -GENERAL OPERATING PROG 10,000
    NATIONAL SNAFFLE BIT FOUNDATION
    1391 ST PAUL AVENUE
    GURNEE,IL60031     		NONE   GENERAL FUND 15,000
    COLORADO STATE UNIVERSITY FUND
    601 S HOWES STREET
    FORT COLLINS,CO80523     		N/A   TEMPLE GRANDIN EQUINE CENTER 250,000
    COLORADO STATE UNIVERSITY FUND
    601 S HOWES STREET
    FORT COLLINS,CO80523     		N/A   EQUINE ASSTED ACTIVITIES/THERAPIES 200,000
    OMAHA EQUISTRIAN FOUNDATION
    1004 FARNHAM STREET
    OMAHA,NE68102     		N/A   UNRESTRICTED -GENERAL OPERATING FUND 20,000
    PHB HERITAGE FOUNDATION
    1120 IRON STREET
    KELLOGG,IA50135     		NONE   GENERAL FUND 15,000
    HEARTLAND EQUINE THERAPEUTIC
    10130 S 222ND STREET
    GRETNA,NE68028     		N/A   GENERAL FUND - THERAPEUTIC RIDING 15,000
    NAP EDUCATIONAL FOUNDATION
    213 S MAIN STREET
    INDEPENDENCE,MO64050     		N/A   UNRESTRICTED GENERAL OPERATING FUND 5,000
    REEF ENVIRONMENTAL EDUCATION
    PO BOX 370246
    KEY LARGO,FL33037     		NONE   GENERAL FUND 15,000
    REINING HORSE SPORTS FOUNDATION
    3021 WEST RENO AVENUE
    OKLAHOMA CITY,OK73107     		N/A   UNRESTRICTED -GENERAL OPERATING FUND 15,000
    TEXAS A&M UNIVERSITY FOUNDATION
    401 GEORGE BUSH DRIVE
    COLLEGE STATION,TX77840     		NONE   EQUINE SCIENCES INITIATIVE 125,000
    BETA THETA PI
    PO BOX 861
    AMES,IA50010     		NONE   GENERAL OPERATING 50,000
    BRECKENRIDGE OUTDOOR EDUCATION
    PO BOX 697
    BRECKENRIDGE,CO80424     		N/A   GENERAL OPERATING - THERAPEUTIC 125,000
    CORBETT MEDICAL FOUNDATION
    PO BOX 343
    SARATOGA,WY82331     		N/A   GENERAL OPERATING FUND 25,000
    AMERICAN QUARTER HORSE FOUNDATION
    PO BOX 32111
    AMARILLO,TX79120     		N/A   SCHOLARSHIP ENDOWMENT 10,000
    NEBRASKA HUMANE SOCIETY
    8929 FORT STREET
    OMAHA,NE68134     		N/A   GENERAL OPERATING FUND 10,000
    Total .................................bullet 3a 1,230,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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....     14 500,268  
    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 ............     		    18 199,237  
    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)..   699,505  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    699,505
    (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 (2018)
    Form 990-PF (2018)
    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 instr.)?
    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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ALLEGION US HOLDING 191,996 181,100
    AMERICAN TOWER 5.05% 29,688 29,695
    AMERICAN TOWER CORP 3.4% 145,556 145,083
    ARROW ELECTRONICS 4.5%    
    AT&T INC SR UNSECURED NOTES 195,333 185,793
    CA INC 191,233 175,428
    CAMPBELL SOUP 187,057 186,328
    CARLISLE COS INC 130,801 128,309
    CDK GLOBAL INC 151,222 149,940
    CDW LLC 5.0% 186,274 178,815
    CENTURYLINK 7.5% 177,720 163,085
    DAVITA HEALTHCARE 5.125% 60,702 56,250
    DAVITA HEALTHCARE 5.75% 124,339 121,390
    DISCOVERY COMMUNICATIONS 102,524 100,480
    DISCOVERY COMMUNICATIONS 90,248 87,641
    DISH DBS CORP    
    DISH DBS CORP SR    
    DUN & BRADSTREET CORP    
    EXPEDIA 5.95 8/15/2020 161,159 165,310
    EXPEDIA INC 5% 17,289 17,173
    FISERV 3.5% 94,758 94,345
    FISERV INC 3.85%    
    FORTUNE BRANDS HOME 178,903 177,103
    GAP INC 5.95 4/12/2021 174,069 183,798
    HOST HOTELS & RESTORS LP 183,172 179,496
    INTL GAME TECH 5.5%    
    JUNIPER NETWORKS INC 60,225 59,776
    KLA-TENCOR CORP 198,337 189,592
    KOHLS CORP 3.25% 186,181 188,779
    KRAFT HEINZ FOODS 191,313 182,907
    L BRANDS INC 184,906 172,700
    L-3 COMMON 5.2%    
    L3 TECHNOLOGIES 62,155 62,096
    L3 TECHNOLOGIES 3.95% 126,765 127,758
    LABORATORY CORP 183,867 181,615
    MASCO CORP 83,688 82,654
    MASCO CORP 4.45% 103,585 103,192
    MOTOROLA SOLUTIONS INC 179,336 175,637
    OMNICOM GROUP 160,298 159,831
    QVC INC NOTES 89,526 86,004
    QVC INC NOTES 4.45% 95,740 89,391
    REYNOLDS AMERICAN 182,315 182,155
    RPM INTL INC 3.45% 76,820 76,272
    RPM INTL INC 6.5%    
    SALLY HOLDINGS 79,065 77,280
    SBA COMMUNICATIONS 179,095 173,900
    STEEL DYNAMICS INC 150,475 143,550
    TOTAL SYSTEM SERVICES 58,990 59,512
    TOTAL SYSTEM SERVICES INC 115,183 114,977
    TRANSDIGM INC 68,407 66,980
    TRINITY ACQUISITION PLC 39,448 38,053
    UNITED RENTALS NORTH AMERICA 18,585 17,325
    UNITED RENTALS NORTH AMERICA 5.5% 129,668 118,755
    VALMONT INDUSTRIES    
    VERISK 4.125% 76,503 76,988
    VERISK 4.875 1/15/2019 107,154 105,037
    VERIZON COMMUNICATIONS    
    VIACOM 4.25%    
    WESTERN DIGITAL CORP 198,040 170,898
    WILLIS NORTH AMERICA 149,410 143,523

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALLERGAN INC    
    ALPHABET INC CL A 122,844 731,472
    ALPHABET INC CL C 122,960 725,963
    AMAZON.COM 113,054 901,182
    AMERIPRISE FINANCIAL 185,261 177,429
    AMGEN 146,150 194,670
    APPLE 149,052 1,340,790
    BERKSHIRE CLASS A 269,160 918,000
    BERKSHIRE CLASS B 157,999 408,360
    BIOGEN 139,583 150,460
    BLACKROCK 394,682 510,666
    BOEING CO COM 89,049 96,750
    CAPITAL ONE FINANCIAL CORP 111,040 377,950
    CELGENE CORP 310,310 480,675
    CHEVRON CORP 115,068 217,580
    COMCAST CORP 134,021 204,300
    CONTINENTAL RESOURCES 271,338 241,140
    DISNEY 240,188 548,250
    EATON CORP PLC SHS    
    ECOLAB 134,863 221,025
    FACEBOOK INC 237,623 301,507
    FEDEX 246,606 241,995
    FISERV    
    HOME DEPOT 136,020 171,820
    IQVIA HOLDING 50,873 58,085
    ISHARES CORE S&P MID CAP ETF 549,775 996,360
    ISHARES CORE S&P SMALL CAP ETF 346,506 693,200
    JOHNSON & JOHNSON 129,945 193,575
    JP MORGAN CHASE 197,779 341,670
    LOWES 141,228 184,720
    MARTIN MARIETTA MATERIALS 81,905 68,748
    MASTERCARD CL A 167,164 1,697,850
    PAYPAL HOLDINGS 183,715 588,630
    PEPSICO 101,413 220,960
    PRICELINE    
    QUALCOMM INC 171,678 227,640
    ROPER TECHOLOGIES INC 57,507 373,128
    SCHLUMBERGER LTD 241,185 108,240
    STARBUCKS CORP 72,981 257,600
    STERLING CAPITAL BEHAVIORAL 161,635 141,896
    THERMO FISHER SCIENTIFIC 117,718 179,032
    UNION PACIFIC 157,322 691,150
    VANGUARD FTSE ALL WORLD EX US    
    VIAS CL A 136,795 923,580
    WELLS FARGO & CO NEW 180,773 322,560
    BOOKING HOLDINGS INC 221,578 602,847

    TY 2018 LegalFeesSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT LEGAL FEES 60,475 40,475   20,000


    TY 2018 OtherIncreasesSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Description Amount
    BASIS ADJUSTMENT 1,119


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 4026 28,453 28,453    
    MANAGEMETN FEES 4034 107,265 107,265    


    TY 2018 TaxesSchedule
    Name:
    CARL & CAROLINE SWASON FOUNDATION
    EIN:
    47-6024644
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PRIOR YEAR TAX 4026 358      
    PRIOR YEAR TAX 4034 4,041      
    ESTIMATED TAXES 4026 5,488      
    ESTIMATED TAXES 4034 15,879      
    FOREIGN TAXES 3,441 3,441