Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
For calendar year 2022, or tax year beginning 01-01-2022 , and ending 12-31-2022
Name of foundation
Opus Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)60 South 6th St Ste 2950
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Minneapolis, MN55402
A Employer identification number

41-1983284
B Telephone number (see instructions)

(612) 440-2500
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$114,637,157J 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) 8,607,848
2 Check right arrow.............
3 Interest on savings and temporary cash investments 70,089 70,089  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 1,762,729
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)....... Click to see attachment
List of Attached Documents:
// Content
-5,799,228 2,535,846  
12 Total. Add lines 1 through 11........ 2,878,709 4,368,664  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
2,444 1,274   11,097
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
92,024 0   84,846
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
683,786 33,394   615,594
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
220,357 40,932   0
19 Depreciation (attach schedule) and depletion... 623 623  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 22,178 0   22,178
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
17,540 1,486,129   16,944
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,038,952 1,562,352   750,659
25 Contributions, gifts, grants paid....... 3,364,987 3,425,738
26 Total expenses and disbursements. Add lines 24 and 25 4,403,939 1,562,352   4,176,397
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,525,230
b Net investment income (if negative, enter -0-) 2,806,312
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2022)
Form 990-PF (2022)
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.............   5,700 5,700
2 Savings and temporary cash investments......... 6,558,075 2,968,666 2,968,666
3 Accounts receivable right arrow1,250
Less: allowance for doubtful accounts right arrow   1,250 1,250 1,250
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 3,000 3,000 3,000
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 107,781,886 Click to see attachment
List of Attached Documents:
// Content
109,657,294 		109,657,294
14 Land, buildings, and equipment: basis right arrow1,870
Less: accumulated depreciation (attach schedule) right arrow623 0 Click to see attachment
List of Attached Documents:
// Content
1,247 		1,247
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
2,000,000 		Click to see attachment
List of Attached Documents:
// Content
2,000,000 		Click to see attachment
List of Attached Documents:
// Content
2,000,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 116,344,211 114,637,157 114,637,157
Liabilities 17 Accounts payable and accrued expenses.......... 215,041 267,756
18 Grants payable................. 1,717,211 1,656,460
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
366,500 		Click to see attachment
List of Attached Documents:
// Content
138,084
23 Total liabilities (add lines 17 through 22)......... 2,298,752 2,062,300
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
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 114,045,459 112,574,857
29 Total net assets or fund balances (see instructions)..... 114,045,459 112,574,857
30 Total liabilities and net assets/fund balances (see instructions). 116,344,211 114,637,157
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
114,045,459
2
Enter amount from Part I, line 27a .....................
2
-1,525,230
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
54,628
4
Add lines 1, 2, and 3 ..........................
4
112,574,857
5
Decreases not included in line 2 (itemize) right arrow
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
112,574,857
Form 990-PF (2022)
Form 990-PF (2022)
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 Capital Gain Distributions From Partnerships P    
b Capital Gain Distributions From Partnerships P    
c
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     342,082 -342,082
b 2,104,811     2,104,811
c
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       -342,082
b       2,104,811
c
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 1,762,729
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 (2022)
Form 990-PF (2022)
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 right arrow 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) 1 39,008
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 39,008
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 39,008
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 38,500
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 115,900
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 154,400
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. Click to see attachment
List of Attached Documents:
// Content
8 478
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 114,914
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow114,914 Refundedright arrow 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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowMN
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 2022 or the taxable year beginning in 2022? 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 (2022)
Form 990-PF (2022)
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 addressright arrowN/A
14
The books are in care ofright arrowTax Officer Telephone no.right arrow (612) 440-2500

Located atright arrowSuite 2950 60 South 6th StreetMinneapolisMN ZIP+4right arrow55402
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, 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 right arrow
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)
Yes
 
(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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2022? .............
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 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2022 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 2022.) .....................
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 2022? ..
4b
 
No
Form 990-PF (2022)
Form 990-PF (2022)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
Matt Rauenhorst President/Chair
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Kristin Ridley Vice President/Executive Director
40.00 		221,267 26,656 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Kate Seng 122 - 922 Vice President
6.00 		29,397 4,410 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Kim Noonan Treasurer/Secretary
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Kristen Grubb Tax Officer
10.00 		35,535 5,812 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Joe Downs Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Beth Duyvejonck Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Margaret Green-Rauenhorst Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Aretha Green-Rupert Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Olivia Jefferson Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Tim Murnane Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Elaine Rasmussen Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
Minneapolis,MN55402
Ian Widmer Director
1.00 		0 0 0
Suite 2950 60 South 6th Street
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
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2022)
Form 990-PF (2022)
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
GHR Foundation Management/Philanthropy Services 671,463
60 South 6th Street Suite 2950
Minneapolis,MN55402
Total number of others receiving over $50,000 for professional services.............right arrow0
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.........................right arrow0
Form 990-PF (2022)
Form 990-PF (2022)
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
66,926,090
b
Average of monthly cash balances.......................
1b
4,052,633
c
Fair market value of all other assets (see instructions)................
1c
41,401,899
d
Total (add lines 1a, b, and c).........................
1d
112,380,622
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
112,380,622
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,685,709
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
110,694,913
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
5,534,746
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
5,534,746
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
39,008
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
91,105
c
Add lines 2a and 2b............................
2c
130,113
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
5,404,633
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
5,404,633
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
5,404,633
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
4,176,397
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
1,870
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
4,178,267
Form 990-PF (2022)
Form 990-PF (2022)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2021 		(c)
2021 		(d)
2022
1 Distributable amount for 2022 from Part X, line 7 5,404,633
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 3,097,507
b Total for prior years:20, 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2017......  
b From 2018......  
c From 2019......  
d From 2020......  
e From 2021......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 4,178,267
a Applied to 2021, but not more than line 2a 3,097,507
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 2022 distributable amount..... 1,080,760
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2022. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		4,323,873
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 2017 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019....  
c Excess from 2020....  
d Excess from 2021....  
e Excess from 2022....  
Form 990-PF (2022)
Form 990-PF (2022)
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 2022, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2022 (b) 2021 (c) 2020 (d) 2019
         
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 right arrow
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 (2022)
Form 990-PF (2022)
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

A Mother's Love Initiative

3451 Cedar Ave South
Minneapolis,MN55407 		None PC General Operations 5,000

Academy of Holy Angels

6600 Nicollet Ave S
Richfield,MN55423 		None PC Service Learning Program 5,000

ACE Mentor Program of Colorado

3530 STUART ST
Denver,CO80212 		None PC ACE Mentor Program 5,000

African American Leadership Forum

1625 Hennepin Ave Suite 200
Minneapolis,MN55403 		None PC United by Black, Powered by All 2022 50,000

Anawim Housing Inc

1750 48th St Suite 100B
Des Moines,IA50310 		None PC Youth Homelessness Opportunities Program 5,000

Aris Foundation

475 E Joseph Way
Gilbert,AZ85295 		None PC Food Distribution Program 5,000

Arizona Helping Hands

3110 E Thunderbird Rd Suite 100
Phoenix,AZ85032 		None PC Technology Integration 5,000

Banner Health Foundation

2901 N Central Ave Suite 160
Phoenix,AZ85012 		None PC Patient Housing Assistance 5,000

Big Brothers Big Sisters of the Greater Twin Cities

3110 Washington Ave N
Minneapolis,MN55411 		None PC Strategic Planning 50,000

Big Shoulders Fund

212 W Van Buren St Suite 900
Chicago,IL60607 		None PC Teacher Recruitment Strategy 50,000

Boys & Girls Club of Metro Denver

2017 W 9th Ave
Denver,CO80204 		None PC Pack to School 1,000

Boys & Girls Clubs of Greater Kansas City

4001 Dr Martin Luther King Jr Pkwy
Ste 102
Kansas City,MO64130 		None PC Teen Services Program Growth 50,000

Breck School

123 Ottawa Avenue North
Minneapolis,MN55422 		None PC Affinity Groups 10,000

Brent Eley Foundation

11980 E 16th Avenue
Aurora,CO80010 		None PC Food and Meal Support 5,000

Building Futures

112 Saint George Place
St Louis,MO631194647 		None PC Capacity Building 127,700

By Degrees Foundation

PO Box 41070
Des Moines,IA50311 		None PC College and Career Readiness 5,000

Camp Fire Minnesota

3300 Tanadoona Drive
Excelsior,MN55331 		None PC PreK-12 Environmental Education Program 50,000

Camp Fire Minnesota

3300 Tanadoona Drive
Excelsior,MN55331 		None PC General Operations 2,500

Cardinal Ritter Senior Services

7601 Watson Road
St Louis,MO63119 		None PC 24 hour campaign 10,000

Cardinal Ritter Senior Services

7601 Watson Road
St Louis,MO63119 		None PC Relatives Acting as Parents Program (RAPP) 5,000

Child Crisis Arizona

817 N Country Club Drive
Mesa,AZ85201 		None PC Fostering Bright Futures Expansion Campaign 100,000

Christian Family Care

3275 West Ina Road
Tucson,AZ85741 		None PC Making Sense of Your Worth 5,000

Christopher House

5235 West Belden Avenue
Chicago,IL60639 		None PC Early Childhood Education Kindergarten Readiness 50,000

Clayton Community Foundation

10 N Bemiston Ave
Clayton,MO63105 		None PC Literary Park on Maryland Avenue 5,000

Colorado Coalition for the Homeless

2111 Champa Street
Denver,CO80205 		None PC Capital Funding for Renaissance Children's Center 50,000

CommonBond Communities

1080 Montreal Avenue
St Paul,MN55116 		None PC Milwaukee Operations 2,500

Community Action Partnership of Scott Carver and Dakota Counties

738 1st Avenue East
Shakopee,MN55379 		None PC Classroom Supplies for Head Start and Early Head Start programs 5,000

Community Foundation of Greater Des Moines

PO Box 71367
Clive,IA50325 		None PC Clive Community Foundation Greenbelt Landing Project 50,000

Community Pathways of Steele County

155 Oakdale St
Owatonna,MN55060 		None PC The Marketplace Food Shelf 5,000

Connectup Institute

1908 University Avenue W
St Paul,MN55104 		None PC General Operations 15,000

Construction Careers Foundation

10590 Wayzata Blvd Suite 100
Minnetonka,MN55305 		None PC Creating a diverse pipeline through program enhancement and community engagement 225,000

Construction Education Foundation

1114 W 7th Ave Suite 200
Denver,CO80204 		None PC Careers in Construction program 5,000

Cristo Rey Jesuit High School- Twin Cities

2924 4th Avenue S
Minneapolis,MN55408 		None PC Corporate Work Study Program 10,000

CU Real Estate Center Leeds School of Business

Koelbel Building S350K 995 Regent
Drive 419 UCB
Boulder,CO80309 		None PC 2022 Colorado NAIOP Rocky Mountain Real Estate Challenge 7,500

Denver Childrens Advocacy Center

2149 Federal Blvd
Denver,CO80211 		None PC Community Outreach & Education Program 5,000

Denver Inner City Parish

1212 Mariposa Street
Denver,CO80204 		None PC Mobile Care Navigation Program 5,000

Denver Kids Inc

1617 S Acoma Street
Denver,CO80223 		None PC Educational Counseling & Community Engagement Partnership Program 50,000

DinoMights

3400 Park Avenue
Minneapolis,MN55407 		None PC Seasonal Staff Program 5,000

Downtown Tempe Authority

1 W Rio Salado Parkway Suite A-201
Tempe,AZ85281 		None PC Equity and Inclusion Research 5,000

Dress for Success Indianapolis

820 N Meridian St
Indianapolis,IN46204 		None PC Employment Initiatives 35,000

Dress for Success Twin Cities

1430 Concordia Ave 4302
St Paul,MN55104 		None PC IDEA Coalition 2,500

Dress for Success Twin Cities

1430 Concordia Ave 4302
St Paul,MN55104 		None PC Launch Success Express 50,000

Dunwoody College of Technology

818 Dunwoody Blvd
Minneapolis,MN55403 		None PC Construction Careers Pathways 5,000

Earnest & Edna Shepherd Youth Center

610 E Shepherd Road
Liberty,MO64068 		None PC Radical Challenge 5,000

Every Third Saturday Inc

4303 E 54th Street
Minneapolis,MN55417 		None PC Veterans Employment Training program 5,000

Feed Northland Kids

8105 N Cosby Ave
Kansas City,MO64151 		None PC Community Food Kit program 5,000

Forgotten Harvest

15000 West Eight Mile Road
Oak Park,MI48237 		None PC Mobile Pantry Program 2,500

Fourth Avenue Foundation Inc

434 E 9th Street
Tucson,AZ85705 		None PC Fourth Avenue Streetscape Improvement 5,000

Free Bikes 4 Kidz MN

400 S 4th Street 401-110
Minneapolis,MN55415 		None PC Distribute Bikes to Those in Need 5,000

Freedom for Youth Ministries

2301 Hickman Road
Des Moines,IA50310 		None PC Freedom Construction Services Work Training Scholarships 50,000

Gather and Grow Waconia United Food Shelf

PO BOX 577
WACONIA,MN553870577 		None PC Food Distribution 5,000

Genesys Works Twin Cities

445 Minnesota Street Suite 720
St Paul,MN55101 		None PC General Operations 5,000

Girl Scouts of Minnesota and Wisconsin River Valleys

400 South Robert Street
Saint Paul,MN55107 		None PC Leadership Experience Expansion and Access 50,000

Girl Scouts of Minnesota and Wisconsin River Valleys

400 South Robert Street
Saint Paul,MN55107 		None PC General Operations 5,000

Giving the Basics Inc

927 S 7th St Trafficway Suite 270
D-2
Kansas City,KS66105 		None PC School Hygiene Program 5,000

Goodwill of Central and Southern Indiana

1635 West Michigan St
Indianapolis,IN46222 		None PC General Operations 2,500

Goodwill of Central and Southern Indiana

1635 West Michigan St
Indianapolis,IN46222 		None PC College & Career Readiness 50,000

Goodwill-Easter Seals Minnesota

553 Fairview Avenue North
St Paul,MN55104 		None PC Power of Work Campaign 50,000

Great River Greening

251 Starkey Street 2200
St Paul,MN55107 		None PC Future Stewards Youth Program 40,000

Greater Des Moines Habitat for Humanity

2200 E Euclid Avenue
Des Moines,IA50317 		None PC Recognition of volunteer efforts 5,000

Greater MSP

400 Robert Street Suite 1600
St Paul,MN55101 		None PC Minnesota Business Coalition for Racial Equity (MBCRE) 8,000

Greater Phoenix Chamber Foundation

2575 E Camelback Rd Suite 410
Phoenix,AZ85024 		None PC Build Your Future Arizona 5,000

Greater Twin Cities United Way

404 South 8th Street
Minneapolis,MN55404 		None PC Giving Campaign 108,013

Grimes Volunteer Support Services (GVSS)

404 SE 2nd St Suite 100
Grimes,IA50111 		None PC Transportation Assistance 2,000

Habitat for Humanity Central Arizona

2830 W Glendale Ave Suite 33
Phoenix,AZ85051 		None PC Recognition of volunteer efforts 5,000

Habitat for Humanity of Kansas City

1423 Linwood Ave
Kansas City,MO64109 		None PC Recognition of volunteer efforts 5,000

Habitat for Humanity of Metro Denver Inc

3245 Eliot Street Ste 600
Denver,CO80211 		None PC Recognition of volunteer efforts 10,000

Habitat for Humanity Saint Louis

3830 S Grand Ave
St Louis,MO63118 		None PC Recognition of volunteer efforts 5,000

Hancock Health Foundation

801 North State Street
Greenfield,IN46140 		None PC Healthy365 Connection Center 5,000

Harvesters - The Community Food Network

3801 Topping Avenue
Kansas City,MO64129 		None PC Food Distribution 5,000

Hearts & Hammers

2603 Fairview Ave N
St Paul,MN55113 		None PC Home Rehabilitation 5,000

Hillcrest Hope

PO Box 17
Liberty,MO64069 		None PC Hope Essentials (Transitional Living Program) 5,000

Home Sweet Home

290 Hanley Industrial Court
Brentwood,MO63144 		None PC Furnishing Hope 5,000

Homeward Bound

2302 West Colter Street
Phoenix,AZ85015 		None PC Strong Foundations Early Learning Center 5,000

Hope Community Inc

611 East Franklin Avenue
Minneapolis,MN55404 		None PC General Operations 7,500

Indiana University

400 E 7th Room 501
Bloomington,IN47405 		None PC 2022 Indiana NAIOP University Challenge Winner 5,000

Inner City Night Shelter

124 Arnold Street
Savannah,GA314012909 		None PC Evening Meal 5,000

InspireMSP

2825 Johnson St NE
Minneapolis,MN55418 		None PC General Operations 2,500

InspireMSP

2825 Johnson St NE
Minneapolis,MN55418 		None PC Program Development 2,500

International Institute of Minnesota

1694 Como Avenue
Saint Paul,MN55108 		None PC Increase Capacity of Professional Leadership Training Program 50,000

Iowa State University Foundation

2505 University Blvd
Ames,IA50010 		None PC WiSE Program 5,000

Jesuit Refugee Service USA

1627 K Street NW Suite 1100
Washington,DC20006 		None PC Assistance for refugees from Myanmar 15,000

Junior Achievement North

PO Box 844
Owatonna,MN55060 		None PC Program Support for the Owatonna area 5,000

Junior Achievement of Greater St Louis

17339 North Outer 40 Road
Chesterfield,MO63034 		None PC JA Trades Experience 100,000

Lake Street Council

2925 Chicago Ave Suite 190
Minneapolis,MN55407 		None PC Lake Street Small Business Support 50,000

Lewy Body Dementia Association

912 Killian Hill Road SW
Lilburn,GA30047 		None PC Research Centers of Excellence and Caregiver Support Development 10,000

Loyola Academy of St Louis

3851 Washington Boulevard
Saint Louis,MO63108 		None PC Curriculum Support 5,000

Marquette University Center for Real Estate

PO Box 1881
Milwaukee,WI53201 		None PC 2022 Minnesota NAIOP University Challenge Winner 5,000

Meals from the Heartland

357 Lincoln St
West Des Moines,IA50265 		None PC Meal Packing program 5,000

Mesa Arts Center Foundation

One East Main Street
Mesa,AZ85201 		None PC Project Lit: Igniting Literacy Through the Arts 5,000

Metro Caring

1100 E 18th Ave
Denver,CO80218 		None PC Food Delivery Program 5,000

MicroGrants

3817 Pleasant Ave South
Minneapolis,MN55409 		None PC Education and Small Business Support 40,000

MIGIZI

1845 East Lake Street
Minneapolis,MN55407 		None PC Building Renovation and Construction 100,000

Mile High United Way Inc

711 Park Avenue West
Denver,CO80205 		None PC Giving Campaign 1,855

Mile High Youth Corps

1801 Federal Blvd
Denver,CO80204 		None PC YouthBuild Program 50,000

Minnesota American Legion Foundation Fund 84

20 W 12th Street Room 300A
St Paul,MN551552000 		None PC Legacy Scholarship Fund 1,000

Minnesota Brownfields

7042 E Fish Lake Road Ste 145
Maple Grove,MN55311 		None PC Redevelopment Financial Literacy program 5,000

Navigate Adolescence Inc

PO Box 504
Downers Grove,IL60515 		None PC The Navigate Series 1,000

New Pathways for Youth Inc

901 E Jefferson Street
Phoenix,AZ85034 		None PC Mentor Recruitment Campaign 5,000

NEWSED Community Development Corporation

901 W 10th Avenue Suite 2A
Denver,CO80204 		None PC Small Business Programs 2,500

Oak Park Country Club Foundation

2001 Thatcher Ave
River Grove,IL60171 		None PC Scholarship Program 5,000

Operation Breakthrough Inc

3039 Troost Avenue
Kansas City,MO64109 		None PC Workforce Development and Entrepreneurship 50,000

Our Lady of Peace

2076 St Anthony Avenue
St Paul,MN55104 		None PC General Operations 15,000

Our Savior Lutheran Church

56 Meadows Drive
Pagosa Springs,CO81147 		None PC Lutheran Mercy Care 15,000

Pathway Financial Education

5454 W 110th Street
Overland Park,KS66211 		None PC Increase Organizational Capacity 50,000

People Reaching Out to Other People

14700 Martin Drive
Eden Prairie,MN55344 		None PC General Operations 2,500

Peter & Paul Community Services

2612 Wyoming Street
St Louis,MO63118 		None PC Soulard Emergency Shelter 5,000

Pillsbury United Communities

3650 Fremont Ave No
Minneapolis,MN55412 		None PC Justice Built Communities 150,000

PREP-KC

2300 Main Ste 340
Kansas City,MO64108 		None PC Career Exploration program 5,000

PRISM

1220 Zane Ave n
Golden Valley,MN55422 		None PC Homelessness Prevention Program 5,000

Project DIVA

2100 Stevens Street
Minneapolis,MN55404 		None PC General Operations 2,500

Project for Pride in Living Inc

1035 East Franklin Avenue
Minneapolis,MN55404 		None PC Race Equity Efforts 150,000

Project IOWA

4801 Franklin Avenue
Des Moines,IA50311 		None PC Strategic Planning for Revenue Streams 5,000

Rebuilding Together Kansas City Inc

2050 Plumbers WaySuite 150
Liberty,MO64068 		None PC Children's Safe at Home 5,000

Rebuilding Together Metro Chicago

4507 N Ravenswood Ave 106
Chicago,IL60640 		None PC Recognition of volunteer efforts 25,000

Rebuilding Together Minnesota

1050 SE 33rd Avenue
Minneapolis,MN55414 		None PC Recognition of volunteer efforts 20,000

Rise CDFI

1627 Washington Avenue
St Louis,MO63103 		None PC Rise CDFI Real Estate Development Loan Fund 50,000

Ronald McDonald House Charities of St Louis

3450 Park Avenue
St Louis,MO63104 		None PC Sponsor A Family 2,500

Sioux Empire United Way Inc

1000 N West Avenue
Sioux Falls,SD57104 		None PC Giving Campaign 400

Society of St Vincent de Paul

PO Box 13600
Phoenix,AZ850023600 		None PC Workforce Development Program Expansion 50,000

SSM Health Cardinal Glennon Children's Foundation

3800 Park Avenue
St Louis,MO63110 		None PC Reach Out and Read 5,000

St Louis Area Foodbank

70 Corporate Woods Drive
Bridgeton,MO63044 		None PC Food Distribution 5,000

St Louis Children's Hospital Foundation

1001 Highlands Plaza Drive West
Suite 160
St Louis,MO63110 		None PC KIDstruction Week 1,000

St Mary's Early Childhood Center

901 Dr Martin Luther King Jr St
Indianapolis,IN46202 		None PC 2Generation Program 50,000

Starfish Initiative

2955 North Meridian St Suite 101
Indianapolis,IN46208 		None PC Building Community Award Winner 69,000

STEP - St Louis Park Emergency Program Inc

6812 West Lake St
St Louis Park,MN55426 		None PC Capital Campaign Support 10,000

Summit Academy OIC

935 Olson Memorial Hwy
Minneapolis,MN55405 		None PC Alumni Network Enhancements 50,000

Sun Valley Youth Center

1230 Decatur Street
Denver,CO80211 		None PC Hop Skip and Drive 5,000

The Community Foundation

1123 Spruce Street
Boulder,CO80302 		None PC Boulder County Wildfire Fund 10,000

The Knothole Foundation Inc

PO Box 38035
Charlotte,NC28278 		None PC General Operations 5,000

The Lovelady Center

7916 2nd Avenue South
Birmingham,AL35206 		None PC Preschool Program 5,000

The Power of People Leadership Institute

600 18th Ave N Suite 1
Minneapolis,MN55411 		None PC Boys of Hope 50,000

The Salvation Army Midland Division

1130 Hampton Ave
St Louis,MO63139 		None PC Ferguson Community Empowerment Center Spark Academy 5,000

Third Way Center

PO Box 61385
Denver,CO80206 		None PC Workforce Development 1,000

TLCTransitional Living Communities

PO Box 1586
Mesa,AZ85210 		None PC Exterior Building Enhancements 5,000

Together We Rise

560 W Lambert Road
Brea,CA92821 		None PC Teen Duffles ($500) and Family Fellowship Scholarship Programs ($1,000) 1,500

Twin Cities Habitat for Humanity

1954 University Ave W
St Paul,MN55104 		None PC Increasing Access to Homeownership for Foundational Black Americans 150,000

Twin Cities Habitat for Humanity

1954 University Ave W
St Paul,MN55104 		None PC Recognition of volunteer efforts 30,000

US Green Building Council

2101 L Street NW Suite 600
Washington,DC20037 		None PC USGBC Minnesota Community-Based Programs 5,000

Ujamaa Place

1821 University Avenue W Ste N187
St Paul,MN55104 		None PC General Operations 7,500

United Services for Children

4140 Old Mill Parkway
Saint Peters,MO63376 		None PC Classroom Supplies 5,000

United Way of Bartholomew County

1531 Thirteenth St Suite 1100
Columbus,IN47201 		None PC General Operations 2,500

United Way of Central Indiana Inc

2955 North Meridian Street Suite
300
Indianapolis,IN46208 		None PC Giving Campaign 275

United Way of Central Iowa

1111 9th St Ste 100
Des Moines,IA50314 		None PC Giving Campaign 1,850

United Way of Greater Kansas City

801 W 47th Street Suite 500
Kansas City,MO64112 		None PC Giving Campaign 2,450

United Way of Greater Milwaukee & Waukesha County Inc

PO Box 88988
Milwaukee,WI532888988 		None PC Giving Campaign 100

United Way of Greater St Louis

910 N 11th Street
St Louis,MO63101 		None PC Giving Campaign 2,920

United Way of Metropolitan Chicago

333 South Wabash Avenue 30th Floor
Chicago,IL60604 		None PC Giving Campaign 2,480

University of Denver - Franklin L Burns School of Real Estate

2101 S University Blvd Suite 380
Denver,CO802088934 		None PC 2022 Colorado NAIOP Rocky Mountain Real Estate Challenge 2,500

University of Minnesota Foundation

McNamara Alumni Building 200 Oak
Street SE Ste 500
Minneapolis,MN554552010 		None PC 2022 Minnesota NAIOP University Challenge Third Place Winner 1,000

University of St Thomas

2115 Summit Avenue
St Paul,MN551051079 		None PC 2022 NAIOP Minnesota University Challenge Second Place Winner 2,500

University of St Thomas

2115 Summit Avenue
St Paul,MN551051079 		None PC Expansion of Career Services 50,000

Urban Boatbuilders

2288 University Avenue West
Saint Paul,MN55114 		None PC Bridge to Employment 39,500

Urban Dreams

601 Forest Ave
Des Moines,IA50314 		None PC Food Pantry 5,000

Urban Peak Denver

2100 Stout St
Denver,CO80205 		None PC Youth Homeless Services 5,000

Valley of the Sun United Way

3200 East Camelback Road Suite 375
Phoenix,AZ85018 		None PC Giving Campaign 1,695

Variety - the Children's Charity

505 Fifth Avenue Suite 310
Des Moines,IA50309 		None PC Mobility Program 5,000

Walker West Music Academy

760 Selby Avenue
St Paul,MN55104 		None PC General Operations 2,500

Wheeler Mission

205 East New York Street
Indianapolis,IN46204 		None PC Shelter Diversion 5,000

Wichita Falls Area Food Bank

1230 Midwestern Parkway
Wichita Falls,TX76308 		None PC Good Buy Hunger Program 5,000

William Ferris Chorale

708 W Belmont Ave
Chicago,IL60657 		None PC General Operations 2,500

Women's Advocates

588 Grand Ave
St Paul,MN55102 		None PC Community Based Outreach 5,000

YMCA of Metropolitan Chicago

1030 W Van Buren St
Chicago,IL60607 		None PC Mental Health Support for Early Education & Care 80,000

Youth Frontiers Inc

5215 Edina Industrial Blvd Suite
400
Minneapolis,MN55439 		None PC Youth Frontiers Leadership Conference 2,500
Total .................................right arrow 3a 3,425,738
bApproved for future payment

Boys & Girls Clubs of Greater Kansas City
4001 Dr Martin Luther King Jr Pkwy
Ste 102
Kansas City,MO64130 		None PC Teen Services Program Growth 100,000

Denver Kids Inc
1617 S Acoma Street
Denver,CO80223 		None PC Educational Counseling & Community Engagement Partnership Program 50,000

International Institute of Minnesota
1694 Como Avenue
Saint Paul,MN55108 		None PC Increase Capacity of Professional Leadership Training Program 100,000

Rise CDFI
1627 Washington Avenue
St Louis,MO63103 		None PC Rise CDFI Real Estate Development Loan Fund 50,000

Society of St Vincent de Paul
PO Box 13600
Phoenix,AZ850023600 		None PC Workforce Development Program Expansion 100,000

The Power of People Leadership Institute
600 18th Ave N Suite 1
Minneapolis,MN55411 		None PC Boys of Hope 100,000
Total ................................. right arrow 3b 500,000
Form 990-PF (2022)
Form 990-PF (2022)
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 70,089  
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 .....     18    
8 Gain or (loss) from sales of assets other than
inventory ............ 		         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOther Investment Income 		525990 1,112,580 18 -7,185,508  
bDeferred Tax     01 273,700  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 1,112,580 -6,841,719 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
-5,729,139
(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 (2022)
Form 990-PF (2022)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2022)
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
2022
Name of the organization
Opus Foundation
 
Employer identification number

41-1983284
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) (2022)
Schedule B (Form 990) (2022) Page 2
Name of organization
Opus Foundation
  		Employer identification number
41-1983284
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
Encore One LLC
 
10350 Bren Road West
 
Minnetonka, MN55343

$ 3,596,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
Opus Investments LLC
 
10350 Bren Road West
 
Minnetonka, MN55343

$ 584,200


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
Opus Holding LLC
 
10350 Bren Road West
 
Minnetonka, MN55343

$ 4,427,648


(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) (2022)
Schedule B (Form 990) (2022)
Page 3
Name of organization
Opus Foundation
  		Employer identification number

41-1983284
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) (2022)
Schedule B (Form 990) (2022)
Page 4
Name of organization
Opus Foundation
  		Employer identification number

41-1983284
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) (2022)
Additional Data


Software ID:  
Software Version:  

TY 2022 AccountingFeesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 61,500 0   54,322
Audit Fees 30,524 0   30,524

TY 2022 GeneralExplanationAttachment
Name:
Opus Foundation
EIN:
41-1983284
Identifier Return Reference Explanation
  Form 990-PF, Part VII, Line 1: Compensation reported on Form 990-PF, Part VII, for Kristen Ridley, Kate Seng, and Kristen Grubb represents compensation paid by GHR Foundation, an unrelated organization, for services provided to Opus Foundation. Opus Foundation has an agreement with GHR Foundation for management and philanthropy services. The total amount paid to GHR Foundation during 2022 was $671,463.

TY 2022 InvestmentsOtherSchedule2
Name:
Opus Foundation
EIN:
41-1983284
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Carlyle Europe Parts II, L.P. FMV 21,839 21,839
Siguler Guff Small Business Opp Fd II FMV 2,111,065 2,111,065
Apis & Heritage Legacy Fund I FMV 172,712 172,712
Siguler Guff Small Buyout Fund V (T), LP FMV 406,606 406,606
Commonfund Capital Secondary Partners IV, LP FMV 6,445 6,445
Adler Asian Private Equity, LLC FMV 133,527 133,527
Adler Bond Fund, LLC FMV 27,342,893 27,342,893
Adler CPV, LLC FMV 135,322 135,322
Adler Energy Infrastr III, LLC FMV 5,191 5,191
Adler Energy Infrastr IV, LLC FMV 10,631 10,631
Adler Equity Fund, LLC FMV 35,813,759 35,813,759
Adler Health Care, LLC FMV 17,362 17,362
Adler New Euro Priv Eqty, LLC FMV 58,375 58,375
Adler Opportunistic Debt, LLC FMV 1,957 1,957
Alder Energy Finance, LLC FMV 136,843 136,843
Adler Opportunistic Debt II FMV 1,823,883 1,823,883
Adler CPVI FMV 552,098 552,098
Adler Energy Infrastr V, LLC FMV 358,043 358,043
Adler Health Partners III, LLC FMV 2,632,918 2,632,918
Adler Small Buyout Fund FMV 843,459 843,459
Adler Trans Recovery Fd, LLC FMV 1,219,674 1,219,674
Adler Co-invest Opp Fd, LLC FMV 786,656 786,656
Adler NGP XI, LLC FMV 1,480,734 1,480,734
Adler Energy Finance II, LLC FMV 101,885 101,885
Adler Opportunistic Debt III FMV 996,026 996,026
Adler SG Small Buyout Fund III FMV 1,311,744 1,311,744
Adler Cinven VI, LLC FMV 708,476 708,476
Adler MPE Fund II, LLC FMV 1,134,207 1,134,207
Adler Southfield II, LLC FMV 2,779,230 2,779,230
Adler Health Partners IV, LLC FMV 1,773,991 1,773,991
Adler Frontenac XI, LLC FMV 4,605,939 4,605,939
Adler 2018 Alternative Investments, LLC FMV 4,453,086 4,453,086
Adler 2019 Alternative Investments, LLC FMV 7,372,030 7,372,030
Adler Panco Fund IV, LLC FMV 2,532,664 2,532,664
Adler 2020 Alternative Investments, LLC FMV 4,577,623 4,577,623
Adler 2022 Alternative Investments, LLC FMV 1,238,401 1,238,401

TY 2022 LandEtcSchedule2
Name:
Opus Foundation
EIN:
41-1983284
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Computer 1,870 623 1,247 1,247


TY 2022 LegalFeesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal Fees 2,444 1,274   11,097


TY 2022 OtherAssetsSchedule
Name:
Opus Foundation
EIN:
41-1983284
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Program Related Investments 2,000,000 2,000,000 2,000,000


TY 2022 OtherExpensesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Dues & Subscriptions 5,905 0   5,905
Bank Fees 621 621   0
Miscellaneous 79 0   104
Pass-through portfolio deductions 0 1,485,508   0
Professional Development 3,910 0   3,910
Insurance 6,875 0   6,875
Communications 150 0   150


TY 2022 OtherIncomeSchedule2
Name:
Opus Foundation
EIN:
41-1983284
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Allocated Partnership Income -6,072,928 0 -6,072,928
Allocated Partnership Income   2,535,846  
Other Investment Income 0 0 0
Deferred Tax 273,700   273,700


TY 2022 OtherIncreasesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Description Amount
Unrealized Gain/(Loss) 54,628


TY 2022 OtherLiabilitiesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Description Beginning of Year - Book Value End of Year - Book Value
Deferred Tax Accrual 366,500 92,800
Grain Spectrum Holding IV, LP 0 45,284


TY 2022 OtherProfessionalFeesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Fees 33,394 33,394   0
Consulting Fees 33,929 0   24,179
Program Fees 495,215 0   483,897
Grants Management Fee 121,248 0   107,518


TY 2022 TaxesSchedule
Name:
Opus Foundation
EIN:
41-1983284
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Foreign Tax 0 40,932   0
Taxes 220,357 0   0