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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 07-01-2021 , and ending 06-30-2022
Name of foundation
JOSEPH C DUKE 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

41-6554802
B Telephone number (see instructions)

(651) 466-8040
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$1,828,660J 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... 43,389 43,389  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 301,020
b Gross sales price for all assets on line 6a 592,175
7 Capital gain net income (from Part IV, line 2)... 301,020
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 290 290  
12 Total. Add lines 1 through 11........ 344,699 344,699  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 34,236 30,813   3,424
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 0 0 1,500
c Other professional fees (attach schedule).... Click to see attachment 1,246 1,121   125
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,025 1,113   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 313 288   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 39,320 33,335 0 5,074
25 Contributions, gifts, grants paid....... 92,680 92,680
26 Total expenses and disbursements. Add lines 24 and 25 132,000 33,335 0 97,754
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 212,699
b Net investment income (if negative, enter -0-) 311,364
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 12 12 12
2 Savings and temporary cash investments......... 23,911 47,258 47,258
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)....... 498,995 Click to see attachment277,272 317,839
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).......... 1,060,641 Click to see attachment1,471,713 1,463,551
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,583,559 1,796,255 1,828,660
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........ 1,583,559 1,796,255
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,583,559 1,796,255
30 Total liabilities and net assets/fund balances (see instructions). 1,583,559 1,796,255
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,583,559
2
Enter amount from Part I, line 27a .....................
2
212,699
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
1,796,258
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
3
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,796,255
Form 990-PF (2021)
Form 990-PF (2021)
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 1. ALIBABA II   1911-11-11 2021-07-13
b 60. INFINEON TECHNOLOGIES A D R   2019-01-03 2021-08-04
c 1. CENTENE CORP COM   1911-11-11 2021-08-09
d 200. DOLLAR GENERAL CORP     2021-08-23
e 124. GLOBAL PAYMENTS INC   2019-01-15 2021-08-23
175. JOHNSON & JOHNSON     2021-08-23
244. ADYEN NV UNSPON A D R   2020-04-02 2021-09-07
444. MERCK AND CO INC     2021-09-15
31. SONOVA HOLDING UNSPON ADR   2016-12-07 2021-09-23
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-04
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-04
1. BANK OF NY MTN 2.600% 2/07/22   1911-11-11 2021-10-04
44. DASSAULT SYSTEMES S.A. SPA ADR   2020-01-09 2021-10-08
.8656 XP INC CLASS A   2021-10-08 2021-10-25
7. ALIBABA GROUP HOLDING LTD A D R   2021-02-11 2021-12-10
18. ALIBABA GROUP HOLDING LTD A D R   2020-05-13 2021-12-10
72. FUCHS PETROLUB SE PREF A D R   2016-12-07 2022-01-12
1077. ITAU UNIBANCO HOLDINGS SA A D R     2022-01-12
97. GRAINGER W W INC COM   2016-12-07 2022-01-19
334. ABBOTT LABORATORIES   2016-12-07 2022-02-09
156. AMGEN INC   2016-12-07 2022-02-09
364. LOWE'S COS INC     2022-02-09
414. MARSH & MCLENNAN COS INC COM   2016-12-07 2022-02-09
45. MASTERCARD INC   2020-05-08 2022-02-09
654. MICROCHIP TECHNOLOGY INC COM W/RTS ATTACHED EXP 02/13/2005   2016-12-07 2022-02-09
91. UNITEDHEALTH GROUP INC COM     2022-02-09
1. STATE STREET BANK AND TRUST   1911-11-11 2022-02-23
69. FUCHS PETROLUB SE PREF A D R   2016-12-07 2022-03-18
8. TAIWAN SEMICONDUCTOR MFG SPON ADR   2016-12-07 2022-04-08
93. UNILEVER PLC COM     2022-04-08
121. UNI CHARM CORPORATION A D R   2020-01-09 2022-05-02
74. CHECKPOINT SOFTWARE COM     2022-06-02
.1258 WOODSIDE PETROLEUM LTD A D R   2022-06-01 2022-06-23
599. VANGUARD FTSE EMERGING MARKETS ETF   2020-01-14 2022-06-29
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 36     36
b 2,455   1,131 1,324
c 19     19
d 47,045   15,104 31,941
e 20,588   13,867 6,721
31,120   19,694 11,426
7,652   1,985 5,667
32,290   25,693 6,597
2,556   733 1,823
17     17
3     3
4     4
2,224   1,497 727
30   36 -6
867   1,887 -1,020
2,228   3,634 -1,406
803   737 66
4,405   6,756 -2,351
48,839   23,016 25,823
43,647   12,852 30,795
36,980   21,990 14,990
85,040   27,564 57,476
64,819   28,760 36,059
17,245   12,663 4,582
50,885   21,045 29,840
45,492   10,344 35,148
12     12
635   706 -71
801   239 562
4,282   4,157 125
817   845 -28
9,530   6,897 2,633
3   3  
25,041   27,320 -2,279
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
      3,765
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       36
b       1,324
c       19
d       31,941
e       6,721
      11,426
      5,667
      6,597
      1,823
      17
      3
      4
      727
      -6
      -1,020
      -1,406
      66
      -2,351
      25,823
      30,795
      14,990
      57,476
      36,059
      4,582
      29,840
      35,148
      12
      -71
      562
      125
      -28
      2,633
       
      -2,279
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 301,020
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 4,328
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 4,328
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 1,020
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 1,020
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 3,308
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet0 RefundedBullet 11 0
Part VI-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 XIV..................................
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 ofbulletUS BANK NATIONAL ASSOCIATION Telephone no.bullet (855) 452-4017

    Located atbullet101 EAST 5TH ST 14TH FLOORST PAULMN ZIP+4bullet551011860
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    US BANK N A TRUSTEE
    1     		34,236    
    PO BOX 0634
    MILWAUKEE,WI532010634
    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 (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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 VIII-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 VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    2,056,528
    b
    Average of monthly cash balances.......................
    1b
    42,525
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,099,053
    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
    2,099,053
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    31,486
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    2,067,567
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    103,378
    Part X
    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 IX, line 6..................
    1
    103,378
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    4,328
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,328
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    99,050
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    99,050
    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 XII, line 1 ...
    7
    99,050
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 99,050
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 6,129
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 0
    b From 2017...... 0
    c From 2018...... 0
    d From 2019...... 0
    e From 2020...... 0
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 97,754
    a Applied to 2020, but not more than line 2a 6,129
    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 2021 distributable amount..... 91,625
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		7,425
    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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017.... 0
    b Excess from 2018.... 0
    c Excess from 2019.... 0
    d Excess from 2020.... 0
    e Excess from 2021.... 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    AMERICAN HEART ASSOCIATION
    4701 W 77 ST
    MINNEAPOLIS,MN55435     		NONE PC GENERAL OPERATING 11,585
    CHILDRENS HOME SOCIETY & FAMILY SERV
    ATTN LYNN VARCO
    1605 EUSTIS STREET
    SAINT PAUL,MN551081219     		NONE PC GENERAL OPERATING 11,585
    J AND L DUKE FOUNDATION
    PO BOX 64713
    ST PAUL,MN55164     		NONE PF GENERAL OPERATING 46,340
    UNIVERSITY OF DUBUQUE
    ATTN VP OF FINANCE
    2000 UNIVERSITY AVE
    DUBUQUE,IA52001     		NONE PC GENERAL OPERATING 23,170
    Total .................................bullet 3a 92,680
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 ....          
    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 ............     		    18 301,020  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME     		    1 290  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) ..   344,699  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    344,699
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,500     1,500

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    J AND L DUKE FOUNDATION
    C/O US BANK NA     		PO BOX 0634
    MILWAUKEE,WI53201     		2022-06-28 46,340 FUTHER THE DUKE FAMILY CHARITABLE GIVING GOALS   NONE 10/26/2022 2022-10-26  

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Name of Stock End of Year Book Value End of Year Fair Market Value
    M22465104 CHECK POINT SOFTWARE    
    136375102 CANADIAN NATL RAILWA 2,144 3,487
    904767704 UNILEVER PLC SPONSOR    
    23304Y100 DBS GROUP HLDGS LTD 5,475 11,111
    05946K101 BANCO BILBAO VIZCAYA 5,828 3,910
    87184P109 SYSMEX CORP UNSPON A 2,660 2,815
    501173207 KUBOTA LTD A D R 4,138 3,849
    478160104 JOHNSON JOHNSON    
    803054204 SAP SE SPONSORED A D 7,155 7,167
    307305102 FANUC CORPORATION A 2,325 2,082
    780259107 ROYAL DUTCH SHELL A    
    571748102 MARSH MCLENNAN COS I    
    595017104 MICROCHIP TECHNOLOGY    
    502117203 LOREAL UNSPONSORED A 6,882 11,186
    45104G104 ICICI BANK LTD A D R 2,552 6,369
    002824100 ABBOTT LABORATORIES    
    548661107 LOWES CO INC    
    91324P102 UNITED HEALTH GROUP    
    58933Y105 MERCK AND CO INC    
    237545108 DASSAULT SYSTEMES SA 5,297 7,589
    83569C102 SONOVA HOLDING UNSPO 1,466 3,951
    87155N109 SYMRISE AG UNSPON A 2,496 4,569
    031162100 AMGEN INC    
    641069406 NESTLE SA SPONSORED 2,721 7,449
    009126202 AIR LIQUIDE S A A D 1,996 3,242
    049255706 ATLAS COPCO AB SPONS 5,497 8,640
    35952Q106 FUCHS PETROLUB SE PR    
    771195104 ROCHE HOLDINGS LTD S 5,212 8,801
    465562106 ITAU UNIBANCO HOLDIN    
    874039100 TAIWAN SEMICONDUCTOR 2,993 8,175
    001317205 AIA GROUP LTD ADR 9,151 13,847
    384802104 GRAINGER W W INC    
    45662N103 INFINEON TECHNOLOGIE 7,636 9,289
    256677105 DOLLAR GENERAL CORP    
    40415F101 HDFC BANK LTD A D R 2,679 3,353
    54338V101 LONZA GROUP AG UNSPO 3,150 6,300
    670108109 NOVOZYMES A S UNSPON 2,755 3,182
    00687A107 ADIDAS AG A D R    
    015393101 ALFA LAVAL AB A D R 2,465 3,798
    02319V103 AMBEV SA SPN A D R 4,994 3,439
    16941M109 CHINA MOBILE LIMITED    
    171269103 CHUGAI PHARMACEUTIC 3,290 3,614
    25243Q205 DIAGEO PLC SPONSORED 3,470 3,831
    344419106 FOMENTO ECONOMICO ME 9,552 7,761
    37940X102 GLOBAL PAYMENTS INC    
    500458401 KOMATSU LTD SPONS A 3,234 3,800
    69343P105 LUKOIL PJSC SPON A D    
    72341E304 PING AN INSURANCE AD 4,656 2,929
    767204100 RIO TINTO PLC A D R 4,930 6,039
    88032Q109 TENCENT HLDGS LTD A 10,588 9,123
    90460M204 UNI CHARM CORPORATIO 4,499 4,277
    G5494J103 LINDE PLC 2,101 3,738
    N97284108 YANDEX NV 1,241 871
    018820100 ALLIANZ SE UNSP A D 8,259 9,420
    57636Q104 MASTERCARD INC    
    29429L105 EPIROC AB UNSP A D R 2,866 4,663
    65479L108 NITORI HLDGS CO LTD 4,688 2,722
    00783V104 ADYEN NV UNSPON A D 7,404 8,912
    824667109 SHIONOGI CO LTD UNSP 4,696 4,222
    818800104 SGS SA A D R 2,870 2,517
    80687P106 SCHNEIDER ELECT SE U 6,157 7,667
    H01301128 ALCON INC 4,269 4,753
    01609W102 ALIBABA GROUP HOLDIN    
    03027X100 AMERICAN TOWER CORP 31,938 34,505
    12591J207 CSPC PHARMACEUTICAL 5,575 4,304
    26876F102 ENN ENERGY HOLDINGS 5,226 5,145
    715684106 P T TELEKOMUNIKASI I 4,449 4,759
    088606108 B H P BILLITON LIMIT 11,095 8,258
    980228308 WOODSIDE PETROLEUM L 1,141 1,143
    824841407 SHISEIDO COMPANY LIM 3,626 3,095
    G98239109 XP INC CLASS A 4,443 2,443
    780259305 SHELL PLC SPON A D R 6,046 6,484
    95MSC2S73 LUKOIL PJSC SPON A D 6,269 53
    40523H106 HAIER SMART HOME CO 9,027 9,191

    TY 2021 InvestmentsOtherSchedule2
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    922908645 VANGUARD MID-CAP IND AT COST 74,064 94,750
    31420B300 FEDERATED HERMES INS AT COST 58,455 49,176
    87245P684 TIAA CREF CORE PLUS AT COST 303,420 266,778
    670678507 NUVEEN REAL ESTATE S      
    464287804 ISHARES CORE S P SMA AT COST 47,356 53,136
    78462F103 SPDR S P 500 ETF AT COST 579,328 598,696
    464287507 ISHARES CORE SP MID- AT COST 243,946 246,591
    922042858 VANGUARD FTSE EMERGI AT COST 25,131 22,949
    03463K406 ANGEL OAK MULTI STRA AT COST 50,000 45,154
    56064L298 MAINSTAY CBRE GLOBAL AT COST 90,000 86,308
    CASH CASH AT COST 13 13

    TY 2021 OtherDecreasesSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Description Amount
    ROUNDING 3


    TY 2021 OtherExpensesSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE/TAX 25 0   25
    ADR FEES 288 288   0


    TY 2021 OtherIncomeSchedule2
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME 290 290  


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 1,246 1,121   125


    TY 2021 TaxesSchedule
    Name:
    JOSEPH C DUKE FOUNDATION
    EIN:
    41-6554802
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 1,043 1,043   0
    FEDERAL ESTIMATES - PRINCIPAL 912 0   0
    FOREIGN TAXES ON NONQUALIFIED 70 70   0