TY 2022 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
DAVID & JANIS LARSON FOUNDATION
C/O FIRST TRUST COMPANY LLC

Number and street (or P.O. box number if mail is not delivered to street address)250 MARQUETTE AVENUE 520
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55401

A Employer identification number

41-1957525

B Telephone number (see instructions)

(651) 330-5910

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$165,745,900J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	38		38
4	Dividends and interest from securities...	3,378,397		3,377,612
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,955,372
b	Gross sales price for all assets on line 6a 20,274,221
7	Capital gain net income (from Part IV, line 2)...			1,955,372
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).......	List of Attached Documents: // Content	186,528	186,528
12	Total. Add lines 1 through 11........	5,520,335		5,519,550
13	Compensation of officers, directors, trustees, etc.	184,386		92,193	92,193
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	19,690	0	19,690
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	402,588	93,358	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	616,023	615,998	25
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,222,687		801,549	111,908
25	Contributions, gifts, grants paid.......	9,300,000			9,300,000
26	Total expenses and disbursements. Add lines 24 and 25	10,522,687		801,549	9,411,908
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-5,002,352
b	Net investment income (if negative, enter -0-)			4,718,001
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	1,541,145	2,654,422	2,654,422
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	5,968,026	List of Attached Documents: // Content 4,731,183	4,363,155
	b	Investments—corporate stock (attach schedule).......	81,782,080	List of Attached Documents: // Content 81,299,992	99,652,018
	c	Investments—corporate bonds (attach schedule).......	6,728,905	List of Attached Documents: // Content 5,854,529	5,312,225
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	44,427,643	List of Attached Documents: // Content 40,931,982	53,764,069
	14	Land, buildings, and equipment: basis 2,045
		Less: accumulated depreciation (attach schedule) 2,045
	15	Other assets (describe )	List of Attached Documents: // Content 42,382	List of Attached Documents: // Content 11	List of Attached Documents: // Content 11
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	140,490,181	135,472,119	165,745,900
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	140,266,399	140,250,689
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	223,782	-4,778,570
	29	Total net assets or fund balances (see instructions).....	140,490,181	135,472,119
	30	Total liabilities and net assets/fund balances (see instructions).	140,490,181	135,472,119

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

140,490,181

Enter amount from Part I, line 27a .....................

-5,002,352

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

135,487,829

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

15,710

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

135,472,119

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	12,748 SHS. ADYEN NV ADR		2022-08-04	2022-11-07
b	2,176 SHS. ADVANCED MICRO DEVICES		2022-08-04	2022-10-11
c	408 SHS. DIGITAL REALTY TRUST		2021-02-25	2022-01-14
d	150 SHS. ECOLABS		2021-02-25	2022-01-14
e	274 SHS. META PLATFORMS		2022-01-07	2022-10-31
	276 SHS. MATCH GROUP		2021-11-10	2022-06-30
	598 SHS. ROKU		2021-12-31	2022-01-07
	3,976 SHS. SNAP INC		2022-01-07	2022-10-31
	111 SHS. THERMO FISHER SCIENTIFIC		2021-12-31	2022-01-14
	$196,000 US TREASURY NOTE		2021-07-23	2022-06-10
	1,215 SHS. ZOOM VIDEO COMM		2022-05-25	2022-11-07
	198 SHS. MEDTRONIC		2022-01-14	2022-12-22
	29,546 SHS. AT & T		2021-01-07	2022-07-18
	1,382 SHS. ADOBE INC		2021-01-07	2022-11-07
	2,065 SHS. ALPHABET INC		2021-01-07	2022-11-07
	$155,000 AMER INTL GRP NOTE		2019-02-07	2022-10-24
	284 SHS. AMERICAN TOWER		2021-01-07	2022-02-08
	1,245 SHS. AVERY DENNISON		2021-01-07	2022-02-01
	6,811 SHS. BAXTER INTL		2021-01-07	2022-01-20
	533 SHS. CARVANA CO		2021-01-07	2022-02-11
	1,600 SHS. CHEVRON		2021-01-07	2022-04-18
	2,558 SHS. COGNEX		2021-01-07	2022-02-08
	31,880 SHS. CONAGRA BRANDS		2021-01-07	2022-07-19
	577 SHS. CONSTELLATION BRANDS		2021-01-07	2022-03-01
	934 SHS. DOCUSIGN		2021-01-07	2022-05-25
	3,128 SHS. META PLATFORMS		2021-01-07	2022-10-31
	$305,000 GENERAL MOTORS FIN CO NOTE		2021-01-07	2022-10-28
	16,662 SHS, GSK PLC		2021-01-07	2022-02-01
	776 SHS. INTERCONTINENTAL EXCHANGE		2021-01-07	2022-06-30
	66,500 SHS. ISHARES MSCI EMKT EFT		2021-01-07	2022-12-15
	5,000 SHS. ISHARES TRUST MSCI INTL EFT		2020-03-18	2022-12-15
	$345,000 JP MORGAN NOTE		2021-01-07	2022-09-23
	198 SHS. LAM RESEARCH		2021-01-07	2022-10-11
	1,131 SHS. LOWE'S		2020-08-25	2022-06-30
	311 SHS. LULULEMON		2021-01-07	2022-02-11
	2,608 SHS. MATCH GROUP		2021-01-07	2022-06-30
	2,268 SHS. MERCK		2021-01-07	2022-11-04
	447 SHS. NETFLEX		2021-01-07	2022-04-25
	192 SHS. OLD DOMINION FREIGHT		2021-01-07	2022-02-08
	1,767 SHS. PAYPAL HOLDINGS		2021-01-07	2022-06-30
	134 SHS. S&P GLOBAL		2021-01-07	2022-08-02
	24,500 SHS. SPDR S&P 400 MIDCAP		2020-04-15	2022-10-28
	9,000 SHS. SPDR S&P 600 SMALL CAP		2020-04-15	2022-10-10
	407 SHS. SHERWIN-WILLIAMS		2021-01-07	2022-06-30
	3,270 SHS. SNAP INC		2021-01-07	2022-10-31
	1,046 SHS. STARBUCKS		2021-01-07	2022-02-08
	51,000 SHS. TEVA PHARMACEUTICAL		2021-01-07	2022-08-17
	1,259 SHS. THE TRADE DESK INC		2021-01-07	2022-06-30
	$715,000 US TREASURY NOTES		2021-01-07	2022-03-23
	US TREASURY NOTES MARKET DISCOUNT		2021-01-07	2022-03-23
	PAYPAL WASH SALE DISALLOWED		2021-01-07	2022-06-30
	$860,000 US TREASURY NOTES		2021-01-07	2022-10-28
	$604,000 US TREASURY NOTES		2021-01-07	2022-09-26
	21,500 SHS. VANGUARD FTSE DEV MKTS		2020-04-15	2022-12-15
	2,286 SHS. VERIZON		2019-02-07	2022-01-14
	$320,000 VMWARE NOTE		2021-01-07	2022-01-18
	.68 SHS WARNER BROS DISCOVERY		2019-02-07	2022-04-13
	742 SHS. ZOOM VIDEO COMM		2021-01-07	2022-11-07
	1,028 MEDTRONIC		2021-01-07	2022-12-22
	11,667 SHS. AMAZON		2017-03-22	2022-11-07
	13,454 SHS. APPLE		2015-01-28	2022-11-07
	260 SHS. MICROSOFT		2015-06-30	2022-11-07
	OAKBENA SCHEDULE K-1 SHORT TERM
	OKABENA SCHEDULE K-1 LONG TERM
	OKABENA SCHEDULE K-1 1231
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	162,690	229,114	-66,424
b	126,977	226,347	-99,370
c	62,681	55,474	7,207
d	32,533	32,102	431
e	25,495	91,158	-65,663
	19,204	42,653	-23,449
	107,580	227,551	-119,971
	39,640	142,128	-102,488
	65,920	50,280	15,640
	191,045	196,000	-4,955
	96,268	118,694	-22,426
	15,095	21,352	-6,257
	607,173	712,796	-105,623
	434,607	603,651	-169,044
	182,129	129,820	52,309
	155,000	153,584	1,416
	70,028	58,027	12,001
	255,703	130,748	124,955
	593,334	521,792	71,542
	79,257	134,915	-55,658
	279,028	190,025	89,003
	166,357	202,370	-36,013
	1,070,155	807,676	262,479
	124,366	135,077	-10,711
	70,853	187,545	-116,692
	464,987	815,111	-350,124
	295,011	307,653	-12,642
	749,618	671,968	77,650
	73,051	70,453	2,598
	2,909,598	2,781,436	128,162
	281,193	193,650	87,543
	345,000	345,000	0
	65,863	53,700	12,163
	233,361	185,357	48,004
	100,674	57,854	42,820
	181,460	326,282	-144,822
	223,801	171,823	51,978
	92,604	165,868	-73,264
	60,099	40,331	19,768
	140,361	255,503	-115,142
	49,731	37,390	12,341
	1,039,295	556,881	482,414
	315,006	199,821	115,185
	90,282	79,175	11,107
	32,601	210,582	-177,981
	100,049	79,162	20,887
	504,199	528,435	-24,236
	52,675	28,606	24,069
	719,682	1,019,334	-299,652
		3,296	-3,296
	22,687		22,687
	837,855	855,995	-18,140
	585,807	604,030	-18,223
	855,407	730,140	125,267
	122,192	121,935	257
	324,093	321,138	2,955
	18	19	-1
	58,791	267,887	-209,096
	78,373	124,530	-46,157
	1,048,037	493,988	554,049
	2,128,682	408,767	1,719,915
	58,904	11,504	47,400
			1,925
			175,649
			29,060
	56		56

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			-66,424
b			-99,370
c			7,207
d			431
e			-65,663
			-23,449
			-119,971
			-102,488
			15,640
			-4,955
			-22,426
			-6,257
			-105,623
			-169,044
			52,309
			1,416
			12,001
			124,955
			71,542
			-55,658
			89,003
			-36,013
			262,479
			-10,711
			-116,692
			-350,124
			-12,642
			77,650
			2,598
			128,162
			87,543
			0
			12,163
			48,004
			42,820
			-144,822
			51,978
			-73,264
			19,768
			-115,142
			12,341
			482,414
			115,185
			11,107
			-177,981
			20,887
			-24,236
			24,069
			-299,652
			-3,296
			22,687
			-18,140
			-18,223
			125,267
			257
			2,955
			-1
			-209,096
			-46,157
			554,049
			1,719,915
			47,400
			1,925
			175,649
			29,060
			56

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,955,372
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 ...................		3

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	65,580
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	65,580
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	65,580
6	Credits/Payments:

a	2022 estimated tax payments and 2021 overpayment credited to 2022	6a	108,567
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	108,567
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	42,987
11	Enter the amount of line 10 to be: Credited to 2023 estimated tax42,987	Refunded	11	0

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2022)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

MICHAEL REDDEN FIRST TRUST COMPANY Telephone no. right arrow

(651) 330-5910

Located at right arrow

250 MARQUETTE AVENUE SUITE 520MINNEAPOLISMN ZIP+4 right arrow

55401

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

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2022)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part 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-)
JANIS L LARSON	PRES., SECT'Y, TREAS., TRU 2.00	0
581 NORTH STREAM ROAD WAYZATA,MN55391	PRES., SECT'Y, TREAS., TRU 2.00	0
D LANCE LARSON	TRUSTEE 2.00	0
8416 ENSLEY LANE LEAWOOD,KS66206	TRUSTEE 2.00	0
REID M LARSON	TRUSTEE 2.00	0
11800 28TH AVENUE NORTH PLYMOUTH,MN55441	TRUSTEE 2.00	0
FIRST TRUST CO LLC	TRUSTEE 10.00	184,386
250 MARQUETTE AVENUE SUITE 520 MINNEAPOLIS,MN55401	TRUSTEE 10.00	184,386

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...................				0

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
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

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 arrow

Form 990-PF (2022)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

161,285,314

Average of monthly cash balances.......................

4,780,236

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

166,065,550

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

166,065,550

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

2,490,983

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

163,574,567

Minimum investment return. Enter 5% (0.05) of line 5................

8,178,728

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.)

Minimum investment return from Part IX, line 6..................

8,178,728

Tax on investment income for 2022 from Part V, line 5.......

65,580

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

65,580

Distributable amount before adjustments. Subtract line 2c from line 1............

8,113,148

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

8,113,148

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

8,113,148

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

9,411,908

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

9,411,908

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				8,113,148
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......			9,279,821
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: $ 9,411,908
a Applied to 2021, but not more than line 2a			9,279,821
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.....				132,087
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 ..........				7,981,061
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)

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
BIG BROTHERS AND BIG SISTERS 2550 UNIVERSITY AVENUE W STE 410N ST PAUL,MN55114		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES - OPERATING	100,000
CENTRAL SQUARE CULTURAL AND CIVIC CENTER 105 SECOND AVE NE STE 111 GLENWOOD,MN56334		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	350,000
CHILDREN'S MERCY HOSPITAL 2401 GILLHAM ROAD KANSAS CITY,MO64108		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	100,000
COLLEGE POSSIBLE TWIN CITIES 540 FAIRVIEW AVE N STE 201 ST PAUL,MN55104		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	200,000
FOOD FOR HUNGRY MINDS 3108 CHICAGO AVE MINNEAPOLIS,MN55407		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	60,000
GUTHRIE THEATER FOUNDATION 818 SOUTH SECOND STREET MINNEAPOLIS,MN55415		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	75,000
KANSAS CITY CHRISTIAN SCHOOL 4801 W 70TH STREET PRAIRIE VILLAGE,KS66208		SCHOOL	GENERAL CHARITABLE PURPOSES	14,000
KANSAS UNIVERSITY ENDOWMENT ASSOCIATION PO BOX 928 LAWRENCE,KS66044		SCHOOL	KU LEADS	250,000
KANSAS UNIVERSITY ENDOWMENT ASSOCIATION PO BOX 928 LAWRENCE,KS66044		SCHOOL	LARSON FOUNDATION SCHOLARSHIP FUND	1,241,000
PINKY SWEAR FOUNDATION 5555 W78TH ST STE E EDINA,MN55439		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	2,200,000
POPE COUNTY HISTORICAL SOCIETY 809 S LAKESHORE DR GLENWOOD,MN56334		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	250,000
REDWOOD HISTORICAL SOCIETY 913 W BRIDGE STREET REDWOOD FALLS,MN56283		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	200,000
ROCKHURST HIGH SCHOOL 9301 STATE LINE ROAD KANSAS CITY,MO64114		SCHOOL	GENERAL CHARITABLE PURPOSES	20,000
ST ANN'S CATHOLIC SCHOOL 200 HAMEL ROAD HAMEL,MN55340		SCHOOL	GENERAL CHARITABLE PURPOSES	20,000
ST CROIX VALLEY FOUNDATION 516 2ND STREET STE 214A HUDSON,WI54016		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	300,000
THE GRIEF CLUB OF MINNESOTA 2025 COULTER BLVD STE 100 CHANHASSEN,MN55317		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	50,000
UNIVERSITY OF MINNESOTA FOUNDATION 200 SE OAK ST STE 500 MINNEAPOLIS,MN55455		SCHOOL	DAVE LARSON SCHOLARSHIP FUND, JANIS LARSON SCHOLARSHIP FUND, LARSON FAMILY ENDOWMENT FOR CLA LEARNING	300,000
VOYAGEUR OUTWARD BOUND SCHOOL 179 ROBIE ST STE 295 ST PAUL,MN55107		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	1,330,000
YMCA OF THE NORTH PO BOX 1450 MINNEAPOLIS,MN55485		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	425,000
CAPABLE PARTNERS PO BOX 27664 GOLDEN VALLEY,MN55427		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	35,000
BIG BROTHERS AND BIG SISTERS 2550 UNIVERSITY AVENUE W STE 410N ST PAUL,MN55114		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	500,000
JUST LIKE YOU FILMS 7301 MISSION RD PRAIRIE VILLAGE,KS66208		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	100,000
CAMP FIRE MINNESOTA 3300 TANADOONA DR EXCELSIOR,MN55331		PUBLIC CHARITY	YOUTH IN NATURE & LEADERSHIP PROGRAM	50,000
ALS ASSOCIATION 1919 UNIVERSITY AVENUE W STE 175 ST PAUL,MN55104		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	50,000
KANSAS UNIVERSITY ENDOWMENT ASSOCIATION PO BOX 928 LAWRENCE,KS66044		PUBLIC CHARITY	JAYHAWK ACHIEVEMENT FUND	330,000
EVERY THIRD SATURDAY 5402 43RD AVENUE S MINNEAPOLIS,MN55417		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	50,000
MINNESOTA ASSISTANCE COUNCIL FOR VETERANS 1000 UNIVERSITY AVENUE W STE 110 ST PAUL,MN55104		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	50,000
ALEXANDRIA TECHNOLOGICAL AND COMMUNITY COLLEGE 1601 JEFFERSON STREET ALEXANDRIA,MN56308		SCHOOL	GENERAL CHARITABLE PURPOSES	400,000
AAHS DECA FOUNDATION 1210 BROADWAY ST STE 240 PMB 152 ALEXANDRIA,MN56308		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	200,000
WASHBURN CENTER FOR CHILDREN 1100 GLENWOOD AVENUE MINNEAPOLIS,MN55405		PUBLIC CHARITY	GENERAL CHARITABLE PURPOSES	50,000
Total ................................. 3a				9,300,000

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
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	38
4 Dividends and interest from securities ....			14	3,378,397
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 .....			14	186,528
8 Gain or (loss) from sales of assets other than inventory ............			18	1,955,372
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		5,520,335	0

13Total. Add line 12, columns (b), (d), and (e)..................

5,520,335

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2022)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2022 InvestmentsCorpBondsSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMERICAN EXPRESS CO 3% 10/30/2024 (025816BR9)	262,705	258,322
AMERICAN INTERNATIONA 3.9% 4/1/2026 (026874DH7)	158,980	151,958
AMGEN INC 3.625% 5/22/2024 (031162BV1)	393,738	384,644
AON PLC 3.875% 12/15/2025 (00185AAK0)	244,639	234,652
BANK OF AMERICA C 3.248% 10/21/2027 (06051GGA1)	403,103	377,189
GOLDMAN SACHS GROUP I 2.6% 2/7/2030 (38141GXG4)	275,497	225,326
LOWE'S COMPANIES INC 3.1% 5/3/2027 (548661DP9)	323,369	309,871
ORACLE CORP 2.65% 7/15/2026 (68389XBM6)	277,973	266,267
PAYPAL HOLDINGS INC 2.85% 10/1/2029 (70450YAE3)	341,682	300,211
SALESFORCE.COM INC 3.7% 4/11/2028 (79466LAF1)	365,523	344,743
STARBUCKS CORP 2.25% 3/12/2030 (855244AW9)	318,432	265,547
WALT DISNEY CO 2% 9/1/2029 (254687FL5)	190,230	156,981
WELLS FARGO & CO 3.55% 9/29/2025 (94974BGP9)	444,643	427,914
AT&T GLBL NOTES 2.3% 06/01/2027	306,130	268,379
CITIGROUP SR GLBL NOTE 3.2% 10/21/2026	320,803	280,622
INTERCONTINENTAL EXCHANGE SR GLBL NOTE 2.1% 06/15/2030	323,598	262,638
VERIZON SR GLBL NOTE 1.45% 03/20/2026	367,072	330,073
BROADCOM INC. 4.75% 4/15/29	254,652	223,280
VMWARE INC 1.8% 8/15/2028 (928563AK1)	281,760	243,608

- TIN:

TY 2022 InvestmentsCorpStockSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC (ABBV)	2,118,010	3,580,631
ADOBE INC (ADBE)	113,051	79,758
ALIGN TECH INC (ALGN)	383,129	215,961
ALPHABET INC-CL A (GOOGL)	1,149,760	1,923,414
ALPHABET INC-CL C (GOOG)	1,494,146	1,140,624
AMAZON COM INC (AMZN)	1,462,707	1,528,968
AMERICAN TOWER CORPORATION (AMT)	445,529	407,407
AMGEN INC (AMGN)	491,247	695,996
AMPHENOL CORP CL A (APH)	219,662	276,312
APPLE INC (AAPL)	1,892,220	5,168,226
APPLIED MATERIALS INC (AMAT)	845,793	1,144,215
ATLASSIAN CORPORATION PLC - (TEAM)	292,817	129,967
AVERY DENNISON CORP (AVY)	479,023	679,655
CASEYS GEN STORES INC (CASY)	348,572	561,099
CATERPILLAR INC (CAT)	605,043	1,598,105
CHARLES RIVER LABS (CRL)	401,803	305,932
CHARLES SCHWAB CORP (SCHW)	688,838	1,148,988
CHEVRON CORP (CVX)	847,147	1,597,461
CHIPOTLE MEXICAN GRILL INC (CMG)	96,571	165,111
CHUBB LTD (CB)	1,353,243	2,077,390
CHURCH & DWIGHT INC (CHD)	1,143,248	1,241,716
CINTAS CORP (CTAS)	335,296	500,395
COCA COLA CO (KO)	949,241	1,230,281
COSTCO WHOLESALE CORP (COST)	354,758	471,108
CSX CORP (CSX)	809,922	991,360
CURTISS WRIGHT CORP (CW)	893,249	1,419,415
DATADOG INC CL A (DDOG)	159,206	138,989
DEERE & CO (DE)	755,015	1,425,627
DENTSPLY SIRONA INC (XRAY)	654,962	491,737
DRAFTKINGS INC CL A (DKNG)	160,728	74,730
EATON CORPORATION PLC (ETN)	550,043	849,884
EDWARDS LIFESCIENCES CORPOR (EW)	311,285	277,027
ELI LILLY & CO (LLY)	331,443	866,675
EMERSON ELEC CO (EMR)	1,228,020	1,562,896
ENBRIDGE INC (ENB)	900,246	1,003,814
ENTERGY CORP (ETR)	889,722	1,194,975
META PLATFORMS INC. CL A (FB)	83,173	30,085
FOX CORPORATION CL A (FOXA)	1,372,439	1,270,043
HILLENBRAND INC (HI)	704,328	853,400
HOME DEPOT INC (HD)	37,686	107,077
HORMEL FOODS CORP (HRL)	769,794	838,120
HUNTINGTON BANCSHARES INC (HBAN)	930,096	968,162
INTEL CORP (INTC)	1,401,188	1,058,204
INTUIT (INTU)	381,168	420,358
INTUITIVE SURGICAL INC (ISRG)	482,310	568,380
JP MORGAN CHASE & CO (JPM)	1,253,428	2,411,520
LAB CORP AMER HLDGS (LH)	876,482	1,051,183
LAM RESH CORP (LRCX)	379,081	280,760
LAUDER ESTEE COS INC CL A (EL)	239,217	246,621
LEGGETT & PLATT INC (LEG)	977,008	752,828
LKQ CORP OC COM (LKQ)	733,761	1,462,686
LOWES COS INC (LOW)	362,894	420,795
LULULEMON ATHLETICA INC (LULU)	318,100	311,409
MAGNA INTERNATIONAL INC CL (MGA)	734,975	668,542
MCDONALDS CORP (MCD)	625,075	858,581
MERCK & CO INC (MRK)	818,639	1,184,391
MICROSOFT CORP (MSFT)	2,424,304	4,872,903
MSCI INC CL A (MSCI)	209,331	252,122
NETFLIX INC (NFLX)	637,908	295,175
NOVARTIS AG SPONS ADR (NVS)	436,690	473,831
NVIDIA CORPORATION (NVDA)	706,700	799,678
OLD DOMINION FREIGHT LINE I (ODFL)	220,352	297,685
PAYPAL HOLDINGS INC (PYPL)	1,476,255	581,440
PHILIP MORRIS INTERNATIONAL (PM)	1,301,378	1,669,762
PROCTER & GAMBLE CO (PG)	650,238	821,304
PROGRESSIVE CORP (PGR)	209,786	296,906
RAYTHEON TECHNOLOGIES CORPO (RTX)	815,036	1,355,356
REGIONS FINANCIAL CORP (RF)	713,474	949,330
S&P GLOBAL INC (SPGI)	178,867	187,566
SCHLUMBERGER LTD (SLB)	818,501	1,270,798
SERVICENOW INC (NOW)	635,027	524,941
SHERWIN WILLIAMS CO (SHW)	333,916	326,329
SHOPIFY INC A (SHOP)	60,291	30,198
SONOCO PRODS CO (SON)	599,382	665,260
SOUTHERN COMPANY (SO)	697,486	982,244
STARBUCKS CORP (SBUX)	55,314	52,378
STRYKER CORP (SYK)	110,366	139,359
SYNOPSYS INC (SNPS)	183,606	258,944
THE TRADE DESK INC - A (TTD)	307,284	192,366
TRAVELERS COS INC (TRV)	1,247,202	1,719,096
UNITED PARCEL SERVICE INC C (UPS)	743,337	1,081,632
UNITEDHEALTH GRP INC (UNH)	1,161,770	2,045,965
US BANCORP (USB)	1,128,853	985,717
VERIZON COMM (VZ)	1,661,806	1,172,071
PARAMOUNT GLOBAL CL B/VIACOM	865,125	436,854
VISA INC (V)	800,234	913,728
WALMART INC (WMT)	1,398,062	1,620,801
WALT DISNEY CO (DIS)	1,359,442	985,827
WASTE MANAGEMENT INC (WM)	887,665	1,255,040
WILLIAMS COS INC (WMB)	1,105,466	1,639,210
ZOETIS INC (ZTS)	540,474	528,606
CISCO SYSTEMS INC.	1,574,659	2,030,464
AIRBNB CL A	140,607	67,374
AMERIPRISE FINANCIAL	43,680	59,160
BOOKING HLDGS INC	128,845	110,840
BOOZ ALLEN HAMILTON HLDGS CL A	1,109,604	1,463,280
BROADCOM INC	139,042	169,416
CONOCOPHILLIPS	54,361	118,944
CONSTELLATION BRANDS CL A	326,827	335,574
DANAHER CORP	89,920	101,390
DOW INC	118,595	96,094
ECOLABS	111,470	74,527
EXXON MOBIL	113,991	218,725
FORD MOTOR COMPANY	32,727	31,331
FORTIVE CORP	32,726	31,418
HONEYWELL INTL INC	94,635	93,006
INTL FLAVORS & FRAGRANCES INC	334,675	262,519
KEYCORP	43,325	35,641
MIDDLEBY CORP	362,533	252,402
NORTHRUP GRUMMAN CORP	66,760	119,489
PNC FINANCIAL SERVICES GROUP	55,198	48,803
PEPSICO INC	138,136	184,996
PINNACLE WEST	792,216	747,245
SALESFORCE INC	707,896	529,034
BLOCK INC CL A	558,547	174,758
TESLA MOTORS INC	1,473,522	658,890
THERMO FISHER SCIENTIFIC	130,205	156,947
UNION PACIFIC	127,372	123,414
CANADIAN PACIFIC RAILWAY	425,074	661,464
TE CONNECTIVITY	99,189	87,937
QUALCOMM INC.	1,309,462	1,071,915
ASML HOLDING NV	170,831	195,065
BOSTON BEER INC. CL A	210,892	180,906
COPART INC	233,978	257,443
DEXCOM INC	224,457	212,099
FIDELITY NATIONAL INFORMATION	830,310	508,875
LINCOLN ELEC HLDGS INC	222,195	225,838
MCCORMICK & CO	703,022	714,678
MONOLITHIC PIWER SYSTEMS	271,281	194,839
NIKE INC CL B	216,248	272,282
PALO ALTO NETWORKS INC	372,178	263,312
U-HAUL HOLDINGS CO	53,444	90,285
U-HAUL HOLDINGS CO CL B	520,186	742,230
WARNER BROS DISCOVERY INC	218,706	67,753

- TIN:

TY 2022 InvestmentsGovtObligationsSch

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

US Government Securities - End of Year Book Value:

4,731,183

US Government Securities - End of Year Fair Market Value:

4,363,155

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2022 InvestmentsOtherSchedule2

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BERKSHIRE HATHAWAY INC CL B (BRK.B)	AT COST	1,297,512	1,857,107
ISHARES CORE MSCI DEV MKTS (IDEV)	AT COST	8,443,140	12,203,640
ISHARES CORE MSCI EMERGING (IEMG)	AT COST	5,939,306	6,631,400
ISHARES CORE S&P SMALL CAP (IJR)	AT COST	2,202,043	3,277,383
ISHARES CORE U.S. AGGREGATE (AGG)	AT COST	3,216,741	2,873,911
SCHWAB US REIT (SCHH)	AT COST	2,368,080	2,758,470
SCHWAB US SMALL CAP ETF (SCHA)	AT COST	5,031,115	6,475,969
SPDR PORTFOLIO S&P 500 ETF (SPLG)	AT COST	2,166,816	3,485,950
SPDR S&P MIDCAP 400 ETF TR (MDY)	AT COST	4,055,955	6,287,618
VANGUARD FTSE DEVELOPED MKT (VEA)	AT COST	950,880	1,175,160
VANGUARD INTERMEDIATE TERM (VCIT)	AT COST	2,689,366	2,397,074
OKABENA PRIVATE MARKETS	AT COST	2,571,028	4,340,387

- TIN:

TY 2022 LegalFeesSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MOSS & BARNETT	19,690	0		19,690

- TIN:

TY 2022 OtherAssetsSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
2021 AMERITRADE FCI DIVIDEND RECEIVED 2022	42,382	0	0
2022 FIRST TRUST DIVIDEND RECEIVED 2023	0	11	11

- TIN:

TY 2022 OtherDecreasesSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Description	Amount
OKABENA PRIVATE MARKETS ADJUSTMENT FOR NONDEDUCTIBLE PASSTHROUGH CHARITABLE	189
OKABENA PRIVATE MARKETS ADJUSTMENT FOR NONDEDUCTIBLE OTHER EXPENSES	925
OKABENA PRIVATE MARKETS ADJUSTMENT TO BASIS RE EXCESS BUSINESS INT EXP	1,870
PAYMENT PURSUANT TO REFUNDING AGREEMENT	1,600
FCI MISCELLANEOUS ADJUSTMENT	9,838
OKABENA PRIVATE MARKETS K-1 SECTION 743B ADJUSTMENT TO BASIS	1,288

- TIN:

TY 2022 OtherExpensesSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
STATE OF MINNESOTA	25	0	25
OKABENA PRIVATE MARKETS K-1 INTEREST EXPENSE	8,598	8,598	0
OKABENA PRIVATE MARKETS K-1 PORTFOLIO EXPENSES	1,045	1,045	0
OKABENA PRIVATE MARKETS K-1 ROYALTY DEDUCTIONS	5,785	5,785	0
OKABENA PRIVATE MARKETS K-1 SECTION 59(E)(2) EXPENSES	145,812	145,812	0
OKABENA PRIVATE MARKETS K-1 OTHER PORTFOLIO EXPENSES	72,921	72,921	0
OKABENA PRIVATE MARKETS K-1 SECTION DEPLETION	17,015	17,015	0
AMERITRADE FCI FEES	361,480	361,480	0
ADR FEES	125	125	0
OKABENA PRIVATE MARKETS K-1 OTHER DEDUCTION	3,090	3,090	0
OKABENA PRIVATE MARKETS K-1 SECTION 179 EXPENSE	127	127	0

- TIN:

TY 2022 OtherIncomeSchedule2

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OKABENA PRIVATE MARKETS K-1 PFIC	1,386	1,386	1,386
OKABENA PRIVATE MARKETS K-1 SUBPART F	1,534	1,534	1,534
OKABENA PRIVATE MARKETS K-1 SECTION 1256 CONTRACTS	-28,378	-28,378	-28,378
OKABENA PRIVATE MARKETS FUND K-1 TRADER INCOME	5,805	5,805	5,805
OKABENA PRIVATE MARKETS FUND K-1 CANCELLATION OF DEBT	2,268	2,268	2,268
OKABENA PRIVATE MARKETS FUND K-1 OTHER PORTFOLIO INCOME	1,151	1,151	1,151
OKABENA PRIVATE MARKETS K-1 FUND RENTAL	-6,196	-6,196	-6,196
OKABENA PRIVATE MARKETS FUND K-1 ORD BUSINESS INCOME	100,833	100,833	100,833
OKABENA PRIVATE MARKETS FUND K-1 ROYALTY	36,487	36,487	36,487
OKABENA PRIVATE MARKETS FUND SECTION 988 LOSS	6,200	6,200	6,200
OKABENA PRIVATE MARKETS FUND OTHER RENTAL	-409	-409	-409
OKABENA PRIVATE MARKETS FUND K-1 RECAPTURE GAIN	65,847	65,847	65,847

- TIN:

TY 2022 TaxesSchedule

Name:

DAVID & JANIS LARSON FOUNDATION

C/O FIRST TRUST COMPANY LLC

EIN:

41-1957525

Category	Amount	Net Investment Income
AMERITRADE FCI FOREIGN TAX PAID	91,326	91,326
OKABENA PRIVATE MARKETS K-1 FOREIGN TAX PAID	2,032	2,032
2021 FEDERAL EXCISE TAX ON NET INVESTMENT INCOME	190,000	0
2022 ESTIMATED FEDERAL UBTI	13,081	0
2022 ESTIMATED FEDERAL NET INVESTMENT INCOME	105,084	0
2021 COLORADO UBTI	1,065	0