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 JAY AND ROSE PHILLIPS FAMILY
FOUNDATION OF MINNESOTA
Number and street (or P.O. box number if mail is not delivered to street address)800 IDS CENTER 80 S 8TH STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55402
A Employer identification number

27-4196509
B Telephone number (see instructions)

(612) 672-3878
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$80,846,363J 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... 2,475,053 2,475,053  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,622,533
b Gross sales price for all assets on line 6a 13,894,175
7 Capital gain net income (from Part IV, line 2)... 3,622,533
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........ 6,097,586 6,097,586  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 131,363 0   131,363
14 Other employee salaries and wages...... 246,848 0   246,848
15 Pension plans, employee benefits....... 30,669 0   30,669
16a Legal fees (attach schedule)......... Click to see attachment 86,887 0   86,887
b Accounting fees (attach schedule)....... Click to see attachment 23,099 13,859   9,240
c Other professional fees (attach schedule).... Click to see attachment 796,149 205,695   590,454
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 94,380 14,580   28,732
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 13,232 0   13,232
21 Travel, conferences, and meetings....... 10,535 0   10,535
22 Printing and publications.......... 2,078 0   2,078
23 Other expenses (attach schedule)....... Click to see attachment 69,742 0   69,742
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,504,982 234,134   1,219,780
25 Contributions, gifts, grants paid....... 3,126,497 3,126,497
26 Total expenses and disbursements. Add lines 24 and 25 4,631,479 234,134   4,346,277
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,466,107
b Net investment income (if negative, enter -0-) 5,863,452
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............. 64,043 1,452,566 1,452,566
2 Savings and temporary cash investments......... 5,169,046 2,659,199 2,659,199
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) bullet1,000,000
Less: allowance for doubtful accounts bullet0 0 1,000,000 1,000,000
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)....... 29,848,308 Click to see attachment29,912,272 40,958,266
c Investments—corporate bonds (attach schedule)....... 14,490,565 Click to see attachment12,254,096 16,314,283
11 Investments—land, buildings, and equipment: basis bullet4,028,146
Less: accumulated depreciation (attach schedule) bullet     4,028,146 4,028,146
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 10,215,448 Click to see attachment14,235,529 14,429,903
14 Land, buildings, and equipment: basis bullet31,782
Less: accumulated depreciation (attach schedule) bullet31,782 4,000 0 0
15 Other assets (describe bullet) Click to see attachment1,478,140 Click to see attachment4,000 Click to see attachment4,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 61,269,550 65,545,808 80,846,363
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)......   2,812,725
22 Other liabilities (describe bullet) Click to see attachment2,574 Click to see attachment0
23 Total liabilities (add lines 17 through 22)......... 2,574 2,812,725
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........... 61,266,976 62,733,083
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........    
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)..... 61,266,976 62,733,083
30 Total liabilities and net assets/fund balances (see instructions). 61,269,550 65,545,808
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
61,266,976
2
Enter amount from Part I, line 27a .....................
2
1,466,107
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
62,733,083
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
62,733,083
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 BERNSTEIN LONG TERM   2020-12-31 2021-12-31
b BERNSTEIN SHORT TERM   2020-12-31 2021-12-31
c JPM US REAL ESTATE   2017-05-31 2021-04-30
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 7,587,637   4,707,992 2,879,645
b 6,000,384   5,255,398 744,986
c 306,154   308,252 -2,098
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       2,879,645
b       744,986
c       -2,098
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 3,622,533
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 81,502
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 81,502
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 70,375
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 33,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 103,375
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 232
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 21,641
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet21,641 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
    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 addressbulletWWW.PHILLIPSFAMILYMN.ORG
    14
    The books are in care ofbulletGREG WENZ CFO THE MINNEAPOLIS FOUNDATION Telephone no.bullet (612) 672-3821

    Located atbullet800 IDS CENTER 80 S 8TH STREETMINNEAPOLISMN ZIP+4bullet55402
    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
    Yes
     
    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
     
    No
    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)
     
    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
     
     
    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
    RT RYBAK PRESIDENT
    2.00     		0 0 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    TYLER PHILLIPS TREASURER
    2.00     		0 0 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    DEAN PHILLIPS CO-CHAIR
    2.00     		0 0 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    JEANNE PHILLIPS CO-CHAIR
    2.00     		0 0 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    HUTTON PHILLIPS BOARD MEMBER
    1.00     		0 0 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    PATRICK TROSKA PRESIDENT
    37.50     		131,363 5,727 0
    80 SOUTH 8TH ST SUITE 800
    MINNEAPOLIS,MN55402
    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
    JOEL LUEDTKE SENIOR PROGRAM DIREC
    37.50     		91,181 3,500 0
    615 1ST AVE NE SUITE 400
    MINNEAPOLIS,MN55413
    TRACY LAMPARTY DIRECTOR OF ADMINIST
    37.50     		68,591 10,478 0
    615 1ST AVE NE SUITE 400
    MINNEAPOLIS,MN55413
    ELIZABETH COCO PROGRAM DIRECTOR, EC
    37.50     		62,135 5,835 0
    615 1ST AVE NE SUITE 400
    MINNEAPOLIS,MN55413
    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
    THE MINNEAPOLIS FOUNDATION FOUNDATION SUPPORT SERVICES 465,280
    80 SOUTH 8TH STREET SUITE 800
    MINNEAPOLIS,MN55401
    BERNSTEIN INVESTMENT MANAGEMENT SERVICES 298,901
    225 SOUTH SIXTH STREET SUITE 2500
    MINNEAPOLIS,MN55402
    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 THE FOUNDATION FORMED THE 927 BUILDING, LLC TO RENOVATE A COMMERCIAL BUILDING LOCATED AT 927 WEST BROADWAY IN NORTH MINNEAPOLIS (THE "LLC"). FOLLOWING ARE THE GOALS FOR THE LLC THE LLC THAT GUIDE THE LLC'S PROJECT DEVELOPMENT:A. ACHIEVING COMMUNITY AND ECONOMIC DEVELOPMENT THAT LEAD TO LOCAL OWNERSHIP.B. PURPOSEFULLY INVESTING IN THE NORTH MINNEAPOLIS COMMUNITY THROUGH A CATLYTIC REDEVELOPMENT OF AN EXISTING BUT NEGLECTED PROPERTY.C. PROVIDING EMPLOYMENT, RESOURCES AND CREATIVE AND COMMUNITY SPACE FOR THE PEOPLE THAT LIVE IN THE NORTH MINNEAPOLIS COMMUNITY.D. BRINGING NEW RETAIL TO THE NORTH MINNEAPOLIS COMMUNITY.THE LLC IS A FUNCTIONALLY RELATED BUSINESS AS DEFINED IN SECTION 4942 OF THE INTERNAL REVENUE CODE FOR THE FOUNDATION BECAUSE THE PROJECT DIRECTLY FURTHERS THE FOUNDATION'S MISSION. BECAUSE IT IS A FUNCTIONALLY RELATED BUSINESS, THE FOUNDATION'S OWNERSHIP IN THE LLC IS NOT AN EXCESS BUSINESS HOLDING WITHIN THE MEANING OF SECTION 4943 OF THE INTERNAL REVENUE CODE. 3,965,857
    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
    55,879,060
    b
    Average of monthly cash balances.......................
    1b
    5,892,810
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    61,771,870
    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
    61,771,870
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    926,578
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    60,845,292
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    3,042,265
    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
    3,042,265
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    81,502
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    81,502
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,960,763
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,960,763
    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
    2,960,763
    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 2,960,763
    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...... 49,345
    b From 2017...... 373,663
    c From 2018...... 596,357
    d From 2019...... 740,807
    e From 2020...... 1,256,937
    f Total of lines 3a through e ........ 3,017,109
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 4,346,277
    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..... 2,960,763
    e Remaining amount distributed out of corpus 1,385,514
    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 4,402,623
    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) ...     		49,345
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		4,353,278
    10 Analysis of line 9:
    a Excess from 2017.... 373,663
    b Excess from 2018.... 596,357
    c Excess from 2019.... 740,807
    d Excess from 2020.... 1,256,937
    e Excess from 2021.... 1,385,514
    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
    612 MASH (MINNEAPOLIS ALL SHALL HEAL)
    3929 CHICAGO AVENUE SOUTH UNIT 4
    MINNEAPOLIS,MN55407     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 15,000
    A BETTER CHICAGO
    200 W MADISON STREET 3RD
    CHICAGO,IL60606     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    ABOVE THE RIM YOUTH SPORTS FOUNDATION
    1500 MORGAN AVENUE NORTH
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 22,500
    ACHIEVE TWIN CITIES
    2829 UNIVERSITY AVE SE STE 850
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY ADDITIONAL FAMILY ENGAGEMENT SUPPORT FOR NORTH MINNEAPOLIS 10,363
    ACHIEVE TWIN CITIES
    2829 UNIVERSITY AVE SE STE 850
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY GENIUS AND JOY GRANTS 129,600
    ADVANCING EQUITY COALITION
    2929 CHICAGO AVE S STE 100
    MINNEAPOLIS,MN55407     		  PUBLIC CHARITY ADVANCING EQUITY COALITION - 483008 25,000
    AGAINST MALARIA FOUNDATION
    310 W 20TH ST STE 300
    KANSAS CITY,MO64108     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 7,000
    AISH MINNESOTA
    5115 EXCELSIOR BLVD 319
    ST LOUIS PARK,MN55416     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    ALLIANCE FOR METROPOLITAN STABILITY
    2525 E FRANKLIN AVENUE STE 200
    MINNEAPOLIS,MN55406     		  PUBLIC CHARITY BLUE LINE COALITION 40,000
    AMERICAN JEWISH WORLD SERVICES
    45 WEST 36TH STREET FLOOR 11
    NEW YORK,NY10018     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 6,000
    AMHERST H WILDER FOUNDATION
    451 LEXINGTON PARKWAY NORTH
    ST PAUL,MN551044636     		  PUBLIC CHARITY MN COMPASS 12,000
    AMOS AND CELIA HEILICHER MINNEAPOLIS JEWISH DAY SCHOOL
    4330 S CEDAR LAKE ROAD
    MINNEAPOLIS,MN55416     		  PUBLIC CHARITY ANNUAL SUPPORT 5,000
    AMOS AND CELIA HEILICHER MINNEAPOLIS JEWISH DAY SCHOOL
    4330 S CEDAR LAKE ROAD
    MINNEAPOLIS,MN55416     		  PUBLIC CHARITY SUPPORT FOR DEI PROGRAMS 10,000
    AMREF HEALTH AFRICA
    75 BROAD ST STE 703
    NEW YORK,NY10004     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 7,000
    ANTI-DEFAMATION LEAGUE
    605 THIRD AVENUE
    NEW YORK,NY101583560     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    APPETITE FOR CHANGE MINNESOTA
    1200 WEST BROADWAY AVENUE SUITE 250
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY CAPACITY BUILDING 50,000
    APPETITE FOR CHANGE MINNESOTA
    1200 WEST BROADWAY AVENUE SUITE 250
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    APS TYPE 1 FOUNDATION
    PO BOX 404
    STONY BROOK,NY11790     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 3,000
    ASSOCIATION FOR BLACK ECONOMIC POWER
    227 COLFAX AVENUE N STE 230
    MINNEAPOLIS,MN55405     		  PUBLIC CHARITY VILLAGE FINANCIAL 250,000
    ATHLETES COMMITTED TO EDUCATING STUDENTS
    1115 EAST HENNEPIN AVENUE
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 4,000
    BABYS SPACE - A PLACE TO GROW
    2438 18TH AVENUE SOUTH
    MINNEAPOLIS,MN55404     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    BIG BROTHERS BIG SISTERS OF THE GREATER TWIN CITIES
    3110 WASHINGTON AVE N
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    BLAKE SCHOOL
    110 BLAKE ROAD SOUTH
    HOPKINS,MN55343     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    BOULDER JEWISH COMMUNITY CENTER
    6007 OREG AVENUE
    BOULDER,CO80303     		  PUBLIC CHARITY IN HONOR OF THE MARRIAGE OF ERIC AND MARY BERNSTEIN 1,000
    BOYS AND GIRLS CLUBS OF THE TWIN CITIES
    690 JACKSON STREET
    ST PAUL,MN55130     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    BRAVE SPACE ALLIANCE
    1515 E 52ND PL FL 3
    CHICAGO,IL60615     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    CARE (COOPERATIVE FOR ASSISTANCE AND RELIEF EVERYWHERE INC)
    PO BOX 1870
    MERRIFIELD,VA221169753     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 7,000
    CHILDREN OF THE NIGHT INC
    3450 CAHUENGA BLVD UNIT 602
    LOS ANGELES,CA90068     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 2,800
    CHRISTMAS IN OCTOBER KANSAS CITY
    3261 ROANOKE
    KANSAS CITY,MO64111     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT IN HONOR OF JOHN MCMEEL 1,200
    CITIZENS LEAGUE
    400 ROBERT STREET NORTH SUITE 1820
    ST PAUL,MN55101     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    CITY OF LAKES COMMUNITY LAND TRUST
    1930 GLENWOOD AVENUE
    MINNEAPOLIS,MN55405     		  PUBLIC CHARITY COMMERCIAL LAND TRUST RENEWAL 150,000
    COMPASSION & CHOICES
    101 SW MADISON STREET UNIT 8009
    PORTLAND,OR97207     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 4,500
    DIDI HIRSCH PSYCHIATRIC SERVICE
    4760 SOUTH SEPULVEDA BOULEVARD
    CULVER CITY,CA90230     		  PUBLIC CHARITY SUPPORT FOR THE SURVIVORS OF SUICIDE ATTEMPTS WORK & OTHER SUPPORT GROUPS 25,000
    DOCTORS WITHOUT BORDERS USA
    40 RECTOR STREET 16TH FLOOR
    NEW YORK,NY10006     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    DOWNTOWN WOMEN'S CENTER
    442 SOUTH SAN PEDRO ST
    LOS ANGELES,CA90013     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 20,000
    EDALLIES
    1621 EAST HENNEPIN AVENUE SUITE 295
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY GENERAL OPERATING FOR EDALLIES EDUCATION ADVOCACY - 482338 10,000
    EDUCATION EVOLVING
    332 MINNESOTA STREET SUITE W1360
    ST PAUL,MN55101     		  PUBLIC CHARITY EDUCATION EVOLVING GENERAL OPERATING GRANT - 482100 10,000
    EDUCATORS 4 EXCELLENCE INC
    2446 UNIVERSITY AVE WEST SUITE 100
    ST PAUL,MN55114     		  PUBLIC CHARITY E4E-MN GENERAL OPERATING SUPPORT - 482782 25,000
    EDUCATORS 4 EXCELLENCE INC
    2446 UNIVERSITY AVE WEST SUITE 100
    ST PAUL,MN55114     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    EMERGENCY USA - LIFE SUPPORT FOR CIVILIAN VICTIMS OF WAR AND POVERTY
    31 WEST 34TH STREET SUITE 8138
    NEW YORK,NY10001     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 6,000
    EVERY MEAL
    2723 PATTON RD
    ROSEVILLE,MN55113     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 7,000
    EXPONENT PHILANTHROPY
    1720 N STREET NW
    WASHINGTON,DC20036     		  PUBLIC CHARITY 2021 MEMBERSHIP 780
    FUNDERS' NETWORK FOR SMART GROWTH AND LIVABLE COMMUNITIES
    1500 SAN REMO AVENUE SUITE 249
    CORAL GABLES,FL33146     		  PUBLIC CHARITY 2021 MEMBERSHIP 3,000
    GRANTMAKERS FOR EDUCATION
    851 SW 6TH AVENUE SUITE 350
    PORTLAND,OR97204     		  PUBLIC CHARITY 2021 MEMBERSHIP 1,800
    GROUP FOR THE ADVANCEMENT OF PSYCHIATRY
    PO BOX 570218
    DALLAS,TX75357     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    GROVES ACADEMY
    3200 HIGHWAY 100 SOUTH
    ST LOUIS PARK,MN55416     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    HERZL CAMP ASSOCIATION
    4330 CEDAR LAKE ROAD SOUTH
    MINNEAPOLIS,MN55416     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    HILLEL THE FOUNDATION FOR JEWISH CAMPUS LIFE (MN HILLEL)
    1521 UNIVERSITY AVENUE SE
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 3,000
    INSPIRATION CORPORATION
    4554 N BROADWAY SUITE 207
    CHICAGO,IL60640     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    JEWISH COMMUNITY ACTION
    2375 UNIVERSITY AVENUE WEST SUITE
    150
    ST PAUL,MN55114     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    JEWISH COMMUNITY RELATIONS COUNCIL MINNESOTA & THE DAKOTAS
    12 NORTH 12TH STREET SUITE 480
    MINNEAPOLIS,MN554032456     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    JEWISH FAMILY AND CHILDREN'S SERVICE OF MINNEAPOLIS
    5905 GOLDEN VALLEY ROAD
    GOLDEN VALLEY,MN55422     		  PUBLIC CHARITY ANNUAL SUPPORT 5,000
    JUXTAPOSITION ARTS
    2007 EMERSON AVENUE NORTH
    MINNEAPOLIS,MN554112507     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    LA GAY AND LESBIAN CENTER
    1118 N MCCADDEN PLACE
    LOS ANGELES,CA90038     		  PUBLIC CHARITY CONTINUED SUPPORT FOR OUT FOR SAFE SCHOOLS 15,000
    LITTLE BROTHERS - FRIENDS OF THE ELDERLY
    1845 EAST LAKE STREET
    MINNEAPOLIS,MN55407     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    LOAVES AND FISHES TOO
    721 KASOTA AVENUE SE
    MINNEAPOLIS,MN55414     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    LOCAL INITIATIVES SUPPORT CORPORATION
    570 NORTH ASBURY STREET SUITE 207
    ST PAUL,MN55104     		  PUBLIC CHARITY DEVELOPERS OF COLOR CAPACITY BUILDING INITIATIVE 100,000
    LOS ANGELES REGIONAL FOOD BANK
    1734 E 41ST STREET
    LOS ANGELES,CA90058     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 2,000
    MAYO CLINIC
    200 FIRST STREET SW
    ROCHESTER,MN55905     		  PUBLIC CHARITY PHILLIPS ALZHEIMER'S DISEASE RESEARCH FUND IN HONOR OF RONALD C. PETERSON 60,000
    MAZON
    10850 WILSHIRE BLVD SUITE 400
    LOS ANGELES,CA90024     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 4,000
    METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS
    3137 CHICAGO AVENUE SOUTH
    MINNEAPOLIS,MN554071532     		  PUBLIC CHARITY NICE MN GENERAL OPERATING SUPPORT - 482438 25,000
    MICROGRANTS
    3817 PLEASANT AVENUE S
    MINNEAPOLIS,MN55409     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    MINNEAPOLIS COMMUNITY KOLLEL
    2930 INGLEWOOD AVENUE SOUTH
    ST LOUIS PARK,MN55416     		  PUBLIC CHARITY FINAL INSTALLMENT OF THREE YEAR PLEDGE 5,000
    MINNEAPOLIS JEWISH FEDERATION
    111 CHESHIRE LANE SUITE 200
    MINNETONKA,MN55305     		  PUBLIC CHARITY 2018 CAMPAIGN 100,000
    MINNESOTA COUNCIL ON FOUNDATIONS
    800 WASHINGTON AVENUE N 70
    MINNEAPOLIS,MN554011167     		  PUBLIC CHARITY 2021 MEMBERSHIP 6,850
    MINNESOTA COUNCIL ON FOUNDATIONS
    800 WASHINGTON AVENUE N 70
    MINNEAPOLIS,MN554011167     		  PUBLIC CHARITY POOLED FUND TO SUPPORT AFGHAN REFUGEES 50,000
    MINNESOTA COUNCIL ON FOUNDATIONS
    800 WASHINGTON AVENUE N 70
    MINNEAPOLIS,MN554011167     		  PUBLIC CHARITY OPERATION ALLIES WELCOME 22,500
    MINNESOTA HISTORICAL SOCIETY
    345 KELLOGG BOULEVARD WEST
    ST PAUL,MN551021906     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    MINNESOTA PRIVATE COLLEGE FUND
    445 MINNESOTA STREET STE 500
    ST PAUL,MN551012123     		  PUBLIC CHARITY EDDIE PHILLIPS SCHOLARSHIP 230,000
    MINNESOTA SPAY NEUTER ASSISTANCE PROGRAM
    2822 WASHINGTON AVENUE NORTH
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 2,000
    MY BLOCK MY HOOD MY CITY (ROLE MODEL MOVEMENT INC)
    47 WEST POLK STREET SUITE 100
    CHICAGO,MN60605     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    NATIONAL COUNCIL OF JEWISH WOMEN LA
    5350 WILSHIRE BLVD 36849
    LOS ANGELES,CA90036     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 15,000
    NATIVE AMERICAN COMMUNITY CLINIC
    1213 EAST FRANKLIN AVENUE
    MINNEAPOLIS,MN55404     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    NEW MOMS
    5317 W CHICAGO AVE
    CHICAGO,IL60651     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 15,000
    NORTHPOINT HEALTH & WELLNESS CENTER INC
    1256 PENN AVENUE NORTH SUITE 5300
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 8,000
    NORTHSIDE ACHIEVEMENT ZONE
    2123 WEST BROADWAY AVENUE STE 100
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 40,000
    NORTHSIDE ECONOMIC OPPORTUNITY NETWORK
    1007 WEST BROADWAY AVENUE N
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 100,000
    OLSON MIDDLE SCHOOL
    1607 51ST AVE N
    MINNEAPOLIS,MN55430     		  GOVERNMENT MY STORY MY BRILLIANCE 135,200
    OPERATION SMILE INTERNATIONAL
    3641 FACULTY BOULEVARD
    VIRGINIA BEACH,VA234538000     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 1,000
    OUR LADY OF THE LAKE
    2385 COMMERCE BOULEVARD
    MOUND,MN55364     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT FOR WESTONKA FOOD SHELF 5,000
    PACER CENTER
    8161 NORMANDALE BOULEVARD
    MINNEAPOLIS,MN554371044     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    PARENTS FAMILIES AND FRIENDS OF LESBIANS AND GAYS INC
    1625 K ST NW SUITE 700
    WASHINGTON,DC20006     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 7,500
    PATRICK HENRY HIGH SCHOOL
    4320 NEWTON AVENUE NORTH
    MINNEAPOLIS,MN554121150     		  GOVERNMENT BE BOLD 85,904
    PERSPECTIVES INC
    3381 GORHAM AVENUE
    ST LOUIS PARK,MN55426     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    PERSPECTIVES INC
    3381 GORHAM AVENUE
    ST LOUIS PARK,MN55426     		  PUBLIC CHARITY PARTY OF HOPE SPONSORSHIP 10,000
    PILLSBURY UNITED COMMUNITIES
    3650 FREMONT AVENUE N
    MINNEAPOLIS,MN55412     		  PUBLIC CHARITY NORTH NEWS 35,000
    PLANNED PARENTHOOD LOS ANGELES
    400 WEST 30TH STREET
    LOS ANGELES,CA90007     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 15,000
    PLANNED PARENTHOOD OF NORTH CENTRAL STATES
    671 VANDALIA STREET
    ST PAUL,MN55114     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    NARAL PRO-CHOICE MINNESOTA FOUNDATION
    2300 MYRTLE AVENUE SUITE 120
    ST PAUL,MN55114     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    PROJECT ANGEL FOOD
    922 VINE STREET
    LOS ANGELES,CA90038     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    REPORTERS COMMITTEE FOR FREEDOM OF THE PRESS
    1156 15TH STREET NW SUITE 1020
    WASHINGTON,DC20005     		  PUBLIC CHARITY IN HONOR OF MURRAY FROMSEN 500
    SECOND HARVEST HEARTLAND
    7101 WINNETKA AVE N
    BROOKLYN PARK,MN55428     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    SIT STAY READ
    2849 N CLARK ST
    CHICAGO,IL60657     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 2,500
    SOS CHILDREN'S VILLAGES ILLINOIS
    216 W JACKSON BLVD SUITE 925
    CHICAGO,IL60606     		  PUBLIC CHARITY SUPPORT OF 2021 HOLIDAY CAMPAIGN 2,500
    SOUTH BAY CENTER FOR COUNSELING
    540 NORTH MARINE AVE
    WILMINGTON,CA90744     		  PUBLIC CHARITY CONTINUED SUPPORT FOR THE ENERGY PATHWAYS PROGRAM 54,000
    SPECIAL SCHOOL DISTRICT NO 1
    1250 WEST BROADWAY AVENUE
    MINNEAPOLIS,MN55411     		  GOVERNMENT PATRICK HENRY - BE BOLD 104,000
    SPECIAL SCHOOL DISTRICT NO 1
    1250 WEST BROADWAY AVENUE
    MINNEAPOLIS,MN55411     		  GOVERNMENT OLSON MIDDLE SCHOOL - MY STORY MY BRILLIANCE 111,000
    ST DAVID'S CENTER FOR CHILD AND FAMILY DEVELOPMENT
    3395 PLYMOUTH ROAD
    MINNETONKA,MN55305     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    ST JOHN'S UNIVERSITY
    PO BOX 7222
    COLLEGEVILLE,MN563217222     		  PUBLIC CHARITY JAY PHILLIPS CENTER FOR INTERFAITH LEARNING AT SAINT JOHN'S UNIVERSITY 18,000
    THE BEST ACADEMY INC
    1300 OLSON MEMORIAL HIGHWAY
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    THE BLOC
    1345 N KARLOV AVENUE
    CHICAGO,IL60651     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    THE CONSTELLATION FUND
    729 N WASHINGTON AVENUE SUITE 600
    MINNEAPOLIS,MN55401     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    THE FOOD GROUP MINNESOTA INC
    8501 54TH AVENUE NORTH
    NEW HOPE,MN55428     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    THE MINNEAPOLIS FOUNDATION
    800 IDS CENTER 80 SOUTH 8TH STREET
    MINNEAPOLIS,MN55402     		  PUBLIC CHARITY PHILLIPS MEMBERSHIP FOR NFG 25,000
    THE MINNEAPOLIS FOUNDATION
    800 IDS CENTER 80 SOUTH 8TH STREET
    MINNEAPOLIS,MN55402     		  PUBLIC CHARITY MAIN STREET ECONOMIC REVITALIZATION PROGRAM 185,000
    THE SANNEH FOUNDATION
    2090 CONWAY STREET
    ST PAUL,MN55119     		  PUBLIC CHARITY CAMDEN COLLECTIVE LEARNING HUB 10,000
    THE SANNEH FOUNDATION
    2090 CONWAY STREET
    ST PAUL,MN55119     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    THE TREVOR PROJECT
    PO BOX 69232
    WEST HOLLYWOOD,CA90069     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 1,500
    THINK SMALL
    10 YORKTON COURT
    ST PAUL,MN551171065     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 4,000
    USVETS INITIATIVE
    800 WEST SIXTH STREET SUITE 1505
    LOS ANGELES,CA90017     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 1,000
    UNIVERSITY OF ST THOMAS
    2115 SUMMIT AVENUE MAIL AOU 10000
    ST PAUL,MN55105     		  PUBLIC CHARITY JAY PHILLIPS CENTER FOR INTERRELIGIOUS STUDIES 18,000
    VILLAGE HEALTH WORKS
    45 W 36TH STREET 8TH FLOOR
    NEW YORK,NY10018     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    VISION LOSS RESOURCES
    1936 LYNDALE AVENUE SOUTH
    MINNEAPOLIS,MN55403     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    VOCALESSENCE
    1900 NICOLLET AVENUE
    MINNEAPOLIS,MN554033789     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    WEST BROADWAY BUSINESS AND AREA COALITION
    1011 W BROADWAY SUITE 202
    MINNEAPOLIS,MN55411     		  PUBLIC CHARITY BUSINESS ORGANIZING 70,000
    WOMEN IN NON TRADITIONAL EMPLOYMENT ROLES
    4741 E CESAR CHAVEZ AVE
    LOS ANGELES,CA90022     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 55,000
    WORLD CONNECT
    632 BROADWAY SUITE 901
    NEW YORK,NY10012     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    YAYA FOUNDATION FOR 4H LEUKODYSTROPHY
    PO BOX 8670
    MINNEAPOLIS,MN55408     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    YOUTH FRONTIERS
    5215 EDINA INDUSTRIAL BOULEVARD
    SUITE 400
    MINNEAPOLIS,MN55439     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    Total .................................bullet 3a 3,126,497
    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 ...........     		         
    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 3,622,533  
    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 6,097,586 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    6,097,586
    (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:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 23,099 13,859   9,240

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AB GLOBAL BOND 6,100,252 5,923,919
    BERNSTEIN INTER DURATION INSTITUTIONAL PORTFOLIO 6,153,844 5,945,561
    SECURITIZED ASSETS FUND (CAYMAN) L.P. CL B 0 4,444,803

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AB GLOBAL CORE EQUITY AD 5,429,292 7,171,131
    AB SUST INTL THEMATIC ADV 4,852,124 6,293,939
    ABBOTT LABORATORIES 126,078 161,007
    ADOBE INC 33,879 33,457
    ALLIANT ENERGY CORP 96,266 103,576
    ALPHABET INC-CL C 237,295 468,762
    AMAZON.COM INC 340,623 506,820
    AMERICAN WATER WORKS CO INC 55,758 69,689
    ANTHEM INC 167,472 239,650
    APPLE INC 480,233 783,794
    ARES MANAGEMENT CORP - A 118,262 155,144
    ASML HOLDING NV-NY REG SHS 74,281 111,460
    BROADCOM INC 231,076 357,325
    CARMAX INC 66,810 59,776
    CBRE GROUP INC - A 117,925 181,429
    CIENA CORP 84,767 122,536
    CIGNA CORP 85,746 100,348
    CITIGROUP INC 192,786 163,476
    COMCAST CORP-CLASS A 153,656 149,832
    COSTCO WHOLESALE CORP 84,134 158,956
    CUBESMART 88,474 140,625
    ETSY INC 63,214 71,593
    GENERAL MOTORS CO 153,893 157,128
    GENTEX CORP 88,781 95,106
    GOLDMAN SACHS GROUP INC 220,128 273,523
    HOME DEPOT INC 89,103 125,748
    HUBBELL INC 55,610 62,273
    ISHARES CORE INTL STOCK ETF 4,050,632 5,536,229
    ISHARES CORE MSCI EMERGING 589,511 763,634
    ISHARES CORES S&P 500 ETF 8,272,634 12,057,830
    JP MORGAN CHASE & CO 167,697 198,729
    KEYSIGHT TECHNOLOGIES IN 189,450 239,345
    KNIGHT-SWIFT TRANSPORTATION 74,518 104,878
    LKQ CORP 52,606 62,071
    LOWE'S COS INC 99,671 177,317
    MASTERCARD INC - A 142,413 139,775
    MERCK & CO, INC. 182,004 179,721
    META PLATFORMS INC-CLASS A 166,539 234,772
    MICROSOFT CORP 399,502 914,454
    MID-AMERICA APARTMENT COMM 53,473 95,676
    MORGAN STANLEY 81,900 80,393
    NESTLE SA-SPONS ADR 57,530 70,493
    NIKE INC -CL B 36,101 108,502
    NORFOLK SOUTHERN CORP 112,575 168,504
    OTIS WORLDWIDE CORP 55,214 75,141
    PFIZER INC 50,437 50,783
    PULTEGROUP INC 105,876 108,775
    QUALCOMM INC 57,504 80,463
    RAYMOND JAMES FINANCIAL INC 192,717 190,559
    SVB FINANCIAL GROUP 87,841 86,815
    TARGET CORP 73,908 91,187
    TERADYNE INC. 137,309 157,152
    TESLA INC 214,529 193,391
    UNITEDHEALTH GROUP INC 105,579 132,565
    VERTEX PHARMACEUTICALS INC 74,988 78,397
    WALMART INC 239,948 262,612

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AB MULTI-MANAGER ALTERNATIVE FUND AT COST 3,300,035 3,464,900
    AB PRIVATE CREDIT INVESTORS MIDDLE MARKET DIRECT LENDING FUND II, FEEDER, LP AT COST 413,644 413,644
    ABRAAJ LATIN AMERICA FUND II PRIVATE AT COST 566,449 820,864
    ALLIANCEBERNSTEIN SECURITIZED ASSETS FUND (CAYMAN), L.P. AT COST 4,448,211 4,448,211
    BENEFIT STREET PARTNERS AT COST 1,000,000 971,931
    BLACKSTONE REAL ESTATE AT COST 192,788 310,269
    BREP ASIS PRIV INV OFFSHORE AT COST 153,884 203,725
    CERBERUS VI PRIVATE INVESTORS AT COST 622,914 865,116
    GIF IV PRIV INVESTORS AT COST 169,888 18,567
    HPS MEZZANNINE II AT COST 318,616 344,385
    HPS MEZZANNINE III AT COST 529,366 817,996
    PEG DIGITAL GROWTH FUND AT COST 385,338 143,498
    PEG DIGITAL GROWTH OFFSHORE SPECIAL AT COST 463,942 29,873
    RS GLOBAL ENERGY & POWER PI AT COST 921,049 714,216
    YORK CREDIT OPPORTUNITIES UNIT TRUST AT COST 167,638 87,258
    SOUTHPAW CREDIT OPPORTUNITY FUND CLASS C AT COST 14,523 16,948
    VINTAGE EURO OPP FUND AT COST 567,244 758,502

    TY 2021 LegalFeesSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 86,887 0   86,887


    TY 2021 OtherAssetsSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    OTHER ASSETS 2,600 0 0
    EQUITY INVESTMENT 1,475,540 0 0
    ARTWORK 0 4,000 4,000


    TY 2021 OtherExpensesSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INFORMATION TECHNOLOGY 11,921 0   11,921
    INSURANCE 36,638 0   36,638
    OFFICE EXPENSES 4,587 0   4,587
    MISC EXPENSE 559 0   559
    PUBLIC RELATIONS 13,000 0   13,000
    POSTAGE AND SHIPPING 964 0   964
    EQUIPMENT LEASE/RENTAL 959 0   959
    PAYROLL PROCESSING SERVICES 1,114 0   1,114


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Description Beginning of Year - Book Value End of Year - Book Value
    ACCRUED PAYROLL 2,574 0


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 205,695 205,695   0
    CONSULTING 590,454 0   590,454


    TY 2021 TaxesSchedule
    Name:
    THE JAY AND ROSE PHILLIPS FAMILY
     
    FOUNDATION OF MINNESOTA
    EIN:
    27-4196509
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 51,068 0   0
    PAYROLL TAXES 28,732 0   28,732
    FOREIGN TAX 14,580 14,580   0