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 01-01-2021 , and ending 12-31-2021
Name of foundation
THE GALLAGHER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5115 EXCELSIOR BLVD 340
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST LOUIS PARK, MN55413
A Employer identification number

41-2019884
B Telephone number (see instructions)

(612) 669-3510
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$11,500,845J 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) 551,500
2 Check bullet.............
3 Interest on savings and temporary cash investments 3,054 3,054  
4 Dividends and interest from securities... 326,604 326,604  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 454,655
b Gross sales price for all assets on line 6a 2,457,163
7 Capital gain net income (from Part IV, line 2)... 455,597
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........ 1,335,813 785,255  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 113,562 0   113,562
14 Other employee salaries and wages...... 41,829 0   41,829
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 9,221 3,860   5,361
c Other professional fees (attach schedule).... Click to see attachment 21,051 13,751   7,300
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 48,504 0   48,504
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 3,362 0   3,362
22 Printing and publications.......... 517 0   517
23 Other expenses (attach schedule)....... Click to see attachment 103,666 1,032   103,666
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 341,712 18,643   324,101
25 Contributions, gifts, grants paid....... 687,533 687,533
26 Total expenses and disbursements. Add lines 24 and 25 1,029,245 18,643   1,011,634
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 306,568
b Net investment income (if negative, enter -0-) 766,612
c Adjusted net income (if negative, enter -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............. 180,245 114,060 114,060
2 Savings and temporary cash investments......... 283,123 510,288 510,288
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)....... 5,343,286 Click to see attachment5,305,378 8,099,315
c Investments—corporate bonds (attach schedule)....... 1,847,382 Click to see attachment2,042,436 2,046,829
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 525,330 Click to see attachment513,772 730,353
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) 8,179,366 8,485,934 11,500,845
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 8,179,366 8,485,934
29 Total net assets or fund balances (see instructions)..... 8,179,366 8,485,934
30 Total liabilities and net assets/fund balances (see instructions). 8,179,366 8,485,934
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
8,179,366
2
Enter amount from Part I, line 27a .....................
2
306,568
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
8,485,934
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
8,485,934
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 ARTISAN HIGH INCOME ADVISOR : APDFX   2020-06-30 2021-04-09
b EATON VANCE EMERGING MARKETS DBT OPPS I: EIDOX     2021-04-09
c MAINGATE MLP I: IMLPX     2021-04-09
d PIMCO INTL BOND US DOLLAR HEDGED INST     2021-04-09
e PIMCO INTL BOND US DOLLAR HEDGED INST     2021-04-09
PIMCO RAE EMERGING MARKETS INSTL : PEIFX   2020-10-07 2021-04-09
RECURRENT MLP & INFRASTRUCTURE CLASS I     2021-04-09
VANGUARD INFLATION PROTECTED SEC ADM SHR     2021-04-09
DODGE & COX INCOME     2021-04-09
VANGUARD INFLATION PROTECTED SEC ADM SHR OPPS I: EIDOX     2021-04-09
MAINGATE MLP I: IMLPX     2021-04-09
OAKMARK INTERNATIONAL ADVISOR : OAYIX     2021-04-09
PIMCO INTERNATIONAL BOND (UNHEDGED)INSTL: PFUIX     2021-04-09
PIMCO INTERNATIONAL BOND (USD-HDG) INSTL: PFORX     2021-04-09
VANGUARD INFLATION-PROTECTED SECS ADM: VAIPX     2021-04-09
VANGUARD TOTAL STOCK MKT IDX ADM : VTSAX   2012-03-26 2021-04-09
AMERICAN FUNDS EUROPACIFIC GROWTH F3 : FEUPX   2020-06-30 2021-01-15
GQG PARTNERS EMERGING MARKETS EQUITYINST: GQGIX   2020-06-30 2021-01-15
MAINGATE MLP I: IMLPX   2020-03-10 2021-01-15
PIMCO RAE EMERGING MARKETS INSTL : PEIFX   2020-10-07 2021-01-15
RECURRENT MLP & INFRASTRUCTURE CLASS I: RMLPX   2020-06-30 2021-01-15
BAIRD AGGREGATE BOND INST: BAGIX   2016-09-02 2021-01-15
DODGE & COX INCOME : DODIX   2016-09-02 2021-01-15
MAINGATE MLP I: IMLPX     2021-01-15
OAKMARK INTERNATIONAL ADVISOR: OAYIX     2021-01-15
VANGUARD TOTAL STOCK MKT IDX ADM : VTSAX   2016-02-04 2021-01-15
ARTISAN HIGH INCOME ADVISOR : APDFX   2020-06-30 2021-04-09
EATON VANCE EMERGING MARKETS DBT OPPS I: EIDOX     2021-04-09
MAINGATE MLP I: IMLPX     2021-04-09
PIMCO INTERNATIONAL BOND (UNHEDGED)INSTL: PFUIX     2021-04-09
PIMCO INTERNATIONAL BOND (USD-HDG) INSTL: PFORX     2021-04-09
RECURRENT MLP & INFRASTRUCTURE CLASS I: RMLPX     2021-04-09
VANGUARD INFLATION-PROTECTED SECS ADM: VAIPX     2021-04-09
DODGE & COX INCOME : DODIX     2021-04-09
EATON VANCE EMERGING MARKETS DBT OPPS I: EIDOX     2021-04-09
ISHARES CORE US REIT ETF IV : USRT     2021-04-09
ISHARES CORE US REIT ETF IV : USRT     2021-04-09
ISHARES CORE US REIT ETF IV : USRT     2021-04-09
MAINGATE MLP I: IMLPX     2021-04-09
PIMCO INTERNATIONAL BOND (UNHEDGED)INSTL: PFUIX     2021-04-09
PIMCO INTERNATIONAL BOND (USD-HDG) INSTL: PFORX     2021-04-09
VANGUARD INFLATION-PROTECTED SECS ADM: VAIPX     2021-04-09
VANGUARD TOTAL STOCK MKT IDX ADM : VTSAX     2021-04-09
BLACKROCK STRATEGIC INCOME OPPS INSTL : BSIIX     2021-09-14
DODGE & COX INCOME : DODIX     2021-09-14
DWS RREEF REAL ASSETS INST: AAAZX     2021-09-14
OAKMARK INTERNATIONAL ADVISOR: OAYIX     2021-09-14
PIMCO RAE EMERGING MARKETS INSTL : PEIFX     2021-09-14
AMERICAN FUNDS EUROPACIFIC GROWTH F3 : FEUPX     2021-09-14
DODGE & COX INCOME : DODIX     2021-09-14
GQG PARTNERS EMERGING MARKETS EQUITYINST: GQGIX     2021-09-14
ISHARES CORE US REIT ETF IV : USRT     2021-09-14
ISHARES CORE US REIT ETF IV : USRT     2021-09-14
ISHARES CORE US REIT ETF IV : USRT     2021-09-14
ISHARES CORE US REIT ETF IV : USRT     2021-09-14
ISHARES CORE US REIT ETF IV : USRT     2021-09-14
VANGUARD TOTAL STOCK MKT IDX ADM : VTSAX     2021-09-14
OAKLEAF PARTNERSHIP P    
OAKLEAF PARTNERSHIP 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 60,000   53,641 6,359
b 9,110   8,934 176
c 27,641   21,066 6,575
d 5,582   5,453 129
e 5,576   5,630 -54
14,000   10,171 3,829
174,146   142,029 32,117
5,910   5,852 58
200,000   189,960 10,040
47,242   45,332 1,910
148,428   167,018 -18,590
45,000   36,431 8,569
27,853   26,078 1,775
23,303   22,630 673
48,016   43,751 4,265
75,000   25,823 49,177
80,748   60,261 20,487
41,000   29,131 11,869
36,077   28,518 7,559
85,300   66,006 19,294
39,700   33,867 5,833
8,000   7,625 375
12,000   11,497 503
3,623   5,203 -1,580
195,600   158,917 36,683
132,200   65,238 66,962
45,000   40,238 4,762
2,633   2,575 58
6,188   4,290 1,898
225   219 6
332   334 -2
25,835   21,009 4,826
529   535 -6
120,000   116,677 3,323
32,534   31,228 1,306
909   831 78
49,247   45,178 4,069
29,871   24,921 4,950
21,279   16,890 4,389
14,540   13,628 912
13,960   13,714 246
33,318   30,891 2,427
40,000   18,173 21,827
15,000   14,990 10
6,756   6,821 -65
20,000   18,643 1,357
30,000   30,392 -392
20,000   19,142 858
60,000   43,735 16,265
33,244   32,185 1,059
20,000   14,550 5,450
39,320   33,088 6,232
1,447   1,225 222
1,270   1,104 166
1,206   1,088 118
1,465   1,293 172
220,000   125,984 94,016
    875 -875
      942
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       6,359
b       176
c       6,575
d       129
e       -54
      3,829
      32,117
      58
      10,040
      1,910
      -18,590
      8,569
      1,775
      673
      4,265
      49,177
      20,487
      11,869
      7,559
      19,294
      5,833
      375
      503
      -1,580
      36,683
      66,962
      4,762
      58
      1,898
      6
      -2
      4,826
      -6
      3,323
      1,306
      78
      4,069
      4,950
      4,389
      912
      246
      2,427
      21,827
      10
      -65
      1,357
      -392
      858
      16,265
      1,059
      5,450
      6,232
      222
      166
      118
      172
      94,016
      -875
      942
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 2 455,597
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 10,656
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 10,656
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 15,105
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 5,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 20,105
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 9,449
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet9,449 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    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 addressbulletWWW.GALLAGHERFOUNDATION.ORG
    14
    The books are in care ofbulletMEGAN G PRINDIVILLE Telephone no.bullet (612) 669-3510

    Located atbullet5115 EXCELSIOR BLVD 340ST LOUIS PARKMN ZIP+4bullet55413
    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)
    Yes
     
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (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
     
     
    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? .............................
    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
    ELLEN M GALLAGHER SECRETARY/DIRECTOR
    0.25     		0 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    GERALD P GALLAGHER CHAIR/TREASURER/DIRECTOR
    0.25     		0 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    MEGAN G PRINDIVILLE PRESIDENT/DIRECTOR
    40.00     		113,562 0 0
    5115 EXCELSIOR BLVD SUITE 340
    ST LOUIS PARK,MN55416
    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.........................bullet0
    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
    10,203,218
    b
    Average of monthly cash balances.......................
    1b
    473,450
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    10,676,668
    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
    10,676,668
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    160,150
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    10,516,518
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    525,826
    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
    525,826
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    10,656
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,656
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    515,170
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    515,170
    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
    515,170
    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 7 515,170
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 547,265
    b From 2017...... 478,781
    c From 2018...... 495,128
    d From 2019...... 594,172
    e From 2020...... 385,544
    f Total of lines 3a through e ........ 2,500,890
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,011,634
    a Applied to 2020, but not more than line 2a 0
    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..... 515,170
    e Remaining amount distributed out of corpus 496,464
    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 2,997,354
    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 ..........     		0
    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) ...     		547,265
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		2,450,089
    10 Analysis of line 9:
    a Excess from 2017.... 478,781
    b Excess from 2018.... 495,128
    c Excess from 2019.... 594,172
    d Excess from 2020.... 385,544
    e Excess from 2021.... 496,464
    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).)
    ELLEN M GALLAGHER
    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
    DANIEL CARRILLO SILVA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 16,977
    DELIA ITZEL LPEZ DUEAS
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,503
    MARIANA DE ABRIL AYALA MIRANDA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,809
    CECIL DAVID LPEZ BARRERA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 18,241
    IQUI BALAM HEREDIA MARN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 22,006
    GUILLERMO ALEJANDRO NAVARRO VIRGEN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,697
    CARLOS EDUARDO ROLN ARROYO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 17,507
    IRIS ALEXSANDRA TUTON JASSO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,001
    CARLOS TOVAR GUAGNELLI
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 14,780
    LEYRE CARPINTEYRO PALOS
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,527
    JORGE LUIS AYALA HERNNDEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,610
    CINTHIA ITA- CELAYA GONZLEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,848
    DENISSE DIX CEDEO
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 18,880
    ATZIRI LUDIM GARCA GARCA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,651
    JULIN JACOBO NAVARRO AGUILAR
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 19,610
    ANDREA MARISOL SALCEDO VZQUEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,061
    HANIA GUADALUPE GUERRERO DEL ANGEL
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,398
    KEVN AL ZIGA LVAREZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,061
    NATALIE PREZ GUADARRAMA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 21,094
    RICARDO DE JESS BALAM EK
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 20,988
    ANA PAOLA ALMEIDA PREZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,316
    ANDRS CARRIZALES RODRGUEZ
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,764
    BELLA ELISABET PERALES MELNDEZ Y AL
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,193
    HCTOR ALEJANDRO ALVARADO SANDOVAL
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,316
    MANUEL ANDRE GRACIA MEZA
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,316
    MOISES ALEJANDRO LEYVA SANJUAN
    AV EUGENIO GARZA SADA 2501 SUR COL
    TECNOLOGICO MONTERREY
    NUEVO LEON   64849
    MX     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 11,009
    BAM MELLISSA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X15
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,886
    DUBE LEONORA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X16
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,204
    GOVENDER SANTHURI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X17
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,944
    JOHNSON MONALISA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X18
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,325
    JAXA MPHO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X19
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,339
    KABILA NKULU ANGEL STEPHANIE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X20
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,979
    KGOMARI KATLEGO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X21
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,150
    KWEYI CWAYITA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X22
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,325
    MDOLO LUXOLO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X23
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,095
    MAFATLE TSHWANELO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X24
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,809
    MOGALE GABRIELLA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X25
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,572
    MAAKE MODJADJI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X26
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 10,525
    MANDONGANA ASENATHI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X27
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,953
    MAPHOLI MMBEREGENI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X28
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 6,325
    MPANZA NOMPILO
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X29
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,159
    MAISELS DON
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X30
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,242
    NINAHAZA CYTHIA
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X31
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,269
    NOPOTE BUKHULU
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X32
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,305
    NZAMA SGWILI
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X33
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,597
    SHAKU MONGATANE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X34
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 8,290
    SELELA REIKANNE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X35
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,020
    TEREZE CHRISTIAN
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X36
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 9,107
    ZITHA CHARMAINE
    UNIVERSITY OF CAPE TOWN PRIVATE BAG
    X37
    RODENBOSCH   7701
    SF     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 7,106
    MERYEM NESBE GEDEMENL
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 807
    LKNUR LNGR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 781
    YUNUS KAAN ARSLAN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,222
    M EMN AKYAR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,329
    MERREF ETNKAYA
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 4,455
    LAYDA ALTIOK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,717
    MUSTAFA DEMR
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,867
    SERGEN KAHRAMAN OTAK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,910
    ZEYNEP LK
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,840
    DCLE HELN SARIGL
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,717
    YUSUF EMRE AHN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 1,806
    MERVE BOZKURT
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,910
    NUR CEREN AYDINOLU
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 3,440
    EMRE HAYATOLU
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,725
    CANAN BALKAN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,725
    DERYA DOLGUN
    BOGAZICI UNIVERSITY
    BEBEK ISTANBUL   34342
    TU     		NONE I COLLEGE SCHOLARSHIP - COST OF EDUCATION; ROOM & BOARD/TRAVEL EXP 2,532
    Total .................................bullet 3a 681,472
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		    14 3,054  
    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 ............     		    18 454,655  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 784,313 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    784,313
    (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
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    THE GALLAGHER FOUNDATION
     
    Employer identification number

    41-2019884
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number
    41-2019884
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ELLEN GALLAGHER
     
    3208 WEST LAKE STREET 101
     
    MINNEAPOLIS, MN55416

    		$ 550,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number

    41-2019884
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    THE GALLAGHER FOUNDATION
          		Employer identification number

    41-2019884
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CLIFTONLARSONALLEN 7,719 3,860   3,859
    DORSEY & WHITNEY LLP 1,502 0   1,502

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK STRATEGIC INCO 429,564 421,950
    ARTISAN HIGH INCOME ADVI 24,356 26,142
    ARTISAN HIGH INCOME ADVI 76,264 80,629
    BAIRD AGGREGATE BOND INS 200,774 209,241
    BAIRD AGGREGATE BOND INS 507,769 517,202
    BLACKROCK STRATEGIC INCO 117,987 115,721
    PGIM GLOBAL TOTAL RETURN Z 51,310 50,033
    DODGE & COX INCOME 47,362 49,183
    DODGE & COX INCOME 418,043 411,708
    PGIM GLOBAL TOTAL RETURN Z 169,007 165,020

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN FUNDS EUROPACIF 816,864 944,673
    VANGUARD TOTAL STOCK MKT 1,571,416 3,254,334
    VANGUARD TOTAL STOCK MKT 442,272 940,942
    PIMCO RAE EMERGING MARKE 97,020 114,805
    PIMCO RAE EMERGING MARKE 330,483 416,371
    OAKMARK INTERNATIONAL AD 786,551 951,575
    OAKMARK INTERNATIONAL AD 212,597 259,826
    GQG PARTNERS EMERGING MA 91,906 112,139
    DWS RREEF REAL ASSETS IN 308,865 345,515
    AMERICAN FUNDS EUROPACIF 207,849 242,700
    DWS RREEF REAL ASSETS IN 89,162 99,810
    GQG PARTNERS EMERGING MA 350,393 416,625

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ISHARES CORE US REIT AT COST 405,806 571,592
    ISHARES CORE US REIT AT COST 105,014 155,809
    OAK LEAF PARTNERS AT COST 2,952 2,952

    TY 2021 OtherExpensesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ASSOCIATION 510 0   510
    BANKING SERVICE CHARGE 2,854 0   2,854
    COMMUNICATIONS 9,171 0   9,171
    COUNTRY DIRECTOR-MEXICO 14,292 0   14,292
    COUNTRY DIRECTOR-SOUTH AFRICA 33,824 0   33,824
    COUNTRY DIRECTOR-TURKEY 10,268 0   10,268
    GRADUATION PLAQUES 1,839 0   1,839
    INFORMATION TECHNOLOGY 10,772 0   10,772
    INSURANCE 2,416 0   2,416
    OFFICE SUPPORT 3,623 0   3,623
    OTHER 7,893 0   7,893
    TRAINING 750 0   750
    WEBSITE 1,454 0   1,454
    GRADUWAY 4,000 0   4,000
    PARTNERSHIP EXPENSES 0 1,032   0


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER FEES 21,051 13,751   7,300


    TY 2021 TaxesSchedule
    Name:
    THE GALLAGHER FOUNDATION
    EIN:
    41-2019884
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 48,504 0   48,504