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
SHERWOOD TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1855
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WALLA WALLA, WA99362
A Employer identification number

91-6337526
B Telephone number (see instructions)

(509) 529-2791
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$35,594,098J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 19 19  
4 Dividends and interest from securities... 566,159 566,159  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,039,912
b Gross sales price for all assets on line 6a 3,429,761
7 Capital gain net income (from Part IV, line 2)... 2,039,912
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
125,425 0  
12 Total. Add lines 1 through 11........ 2,731,515 2,606,090  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 213,678 32,052   181,626
14 Other employee salaries and wages...... 66,971 0   66,971
15 Pension plans, employee benefits....... 23,583 3,537   20,521
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
11,881 0   11,881
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
78,120 75,025   3,095
17 Interest............... 153 0   153
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
99,687 2,499   14,097
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 22,276 0   22,276
21 Travel, conferences, and meetings....... 8,704 0   8,704
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
86,690 1,713   84,977
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 611,743 114,826   414,301
25 Contributions, gifts, grants paid....... 1,188,373 1,188,373
26 Total expenses and disbursements. Add lines 24 and 25 1,800,116 114,826   1,602,674
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 931,399
b Net investment income (if negative, enter -0-) 2,491,264
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.............      
2 Savings and temporary cash investments......... 462,287 1,406,103 1,406,103
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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..........      
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).......... 39,118,978 Click to see attachment
List of Attached Documents:
// Content
34,187,995 		34,187,995
14 Land, buildings, and equipment: basis right arrow8,547
Less: accumulated depreciation (attach schedule) right arrow8,547      
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 39,581,265 35,594,098 35,594,098
Liabilities 17 Accounts payable and accrued expenses.......... 7,697 8,930
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
50,651 		Click to see attachment
List of Attached Documents:
// Content
38,089
23 Total liabilities (add lines 17 through 22)......... 58,348 47,019
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........ 13,658,972 13,658,972
27 Paid-in or capital surplus, or land, bldg., and equipment fund 9,225,495 9,225,495
28 Retained earnings, accumulated income, endowment, or other funds 16,638,450 12,662,612
29 Total net assets or fund balances (see instructions)..... 39,522,917 35,547,079
30 Total liabilities and net assets/fund balances (see instructions). 39,581,265 35,594,098
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
39,522,917
2
Enter amount from Part I, line 27a .....................
2
931,399
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
40,454,316
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
4,907,237
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
35,547,079
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 SCHWAB 0462 PUBLICLY TRADED SECURITIES P    
b LIBERTY LAKE LAND COMPANY, LLC K-1 P    
c CAPITAL GAINS DIVIDENDS P    
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 1,624,980   1,389,849 235,131
b 1,426,928     1,426,928
c 377,853     377,853
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       235,131
b       1,426,928
c       377,853
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 2,039,912
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 34,629
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 34,629
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 34,629
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 33,336
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 33,336
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 37
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 1,330
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow   Refundedright arrow 11  
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 arrowWA
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 arrowWWW.SHERWOODTRUST.ORG
14
The books are in care ofright arrowBRIAN HUNT Telephone no.right arrow (509) 529-2791

Located atright arrowPO BOX 1855WALLA WALLAWA ZIP+4right arrow99362
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? .................
16Yes  
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrowCJ
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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
BRIAN HUNT CEO
40.00 		139,230 12,883 3,300
PO BOX 1855
WALLA WALLA,WA99362
PAUL SCHNEIDMILLER PRESIDENT
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
KAZI JOSHUA VICE PRESIDENT
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
TONI ALVARADO-JACKSON SECRETARY
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
ALLAN GILLESPIE TREASURER
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
JEAN H ADAMS DIRECTOR
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
CHUCK FULTON DIRECTOR
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
WILLIAM ALBEE DIRECTOR
4.00 		10,000 0 0
PO BOX 1855
WALLA WALLA,WA99362
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
VERUS INVESTMENT MANAGEMENT 75,000
800 FIFTH AVENUE SUITE 3900
SEATTLE,WA98104
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
33,216,671
b
Average of monthly cash balances.......................
1b
580,917
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
33,797,588
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
33,797,588
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
506,964
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
33,290,624
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,664,531
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
1,664,531
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
34,629
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
34,629
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,629,902
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,629,902
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
1,629,902
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
1,602,674
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
 
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
1,602,674
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 1,629,902
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 1,188,373
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$ 1,602,674
a Applied to 2021, but not more than line 2a 1,188,373
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..... 414,301
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 .......... 		1,215,601
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 e-mail address of the person to whom applications should be addressed:
BRIAN HUNT CEO SHERWOOD TRUST
PO BOX 1855
WALLA WALLA,WA99362
(509) 529-2791
bThe form in which applications should be submitted and information and materials they should include:
SEE WWW.SHERWOODTRUST.ORG FOR APPLICATION INSTRUCTIONS.
cAny submission deadlines:
PRIOR TO MARCH 1.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
RELIGIOUS, CHARITABLE, AND EDUCATIONAL PURPOSES WITHIN THE WALLA WALLA GEOGRAPHICAL AREA.
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

BLUE MOUNTAIN ACTION COUNCIL

8 E CHERRY ST
WALLA WALLA,WA99362 		  PC CORE/INVITATIONAL 150,000

BLUE MOUNTAIN COMMUNITY FOUNDATION FOR WALLA WALLA IMMIGRANT RIGHTS COALITI

22 E POPLAR ST SUITE 206
WALLA WALLA,WA99362 		  PC IMPACT 20,080

BLUE MOUNTAIN HUMANE SOCIETY

7 E GEORGE STREET
WALLA WALLA,WA99362 		  PC LEGACY 1,000

BLUE MOUNTAIN THERAPEUTIC RIDING

PO BOX 761
COLLEGE PLACE,WA99324 		  PC IMPACT 10,000

BOY SCOUTS OF AMER BLUE MT COUNCIL

8478 W GAGE BLVD
KENNEWICK,WA99336 		  PC CORE/LEGACY 29,584

CAMP FIRE

414 S PARK STREET
WALLA WALLA,WA99362 		  PC LEGACY 1,000

CARNEGIE CENTER INC DBA CARNEGIE PICTURE LAB

PO BOX 3223
WALLA WALLA,WA99362 		  PC LEGACY 1,000

COLUMBIA COUNTY COMMUNITY NETWORK FOR DAYTON FRIENDS OF POOL DAYTON FRIENDS

PO BOX 215
DAYTON,WA99328 		  PC CORE/IMPACT 25,000

COLUMBIA COUNTY HEALTH SYSTEMS

1012 S THIRD ST
DAYTON,WA99328 		  GOV CORE 100,000

COMMUNITY COUNCIL

PO BOX 2936
WALLA WALLA,WA99362 		  PC INVITATIONAL 50,000

CONFEDERATED TRIBES OF UMATILLA DBA TAMASTSLIKT CULTURAL INSTITUTE

47106 WILDHORSE BLVD
PENDLETON,OR97801 		  GOV INVITATIONAL 60,000

FRIENDS OF CHILDREN OF WALLA WALLA

1150 W CHESTNUT 11
WALLA WALLA,WA99362 		  PC CORE 20,000

FRIENDS OF THE LIBRARY OF WALLA WALLA

238 E ALDER STREET
WALLA WALLA,WA99362 		  PC LEGACY 5,000

HOPE STREET

PO BOX 2001
WALLA WALLA,WA99362 		  PC CORE 29,127

LILLIE RICE CENTER

2616 E ISAACS AVE
WALLA WALLA,WA99362 		  PC LEGACY 1,000

LITTLE THEATRE OF WALLA WALLA

1130 E SUMACH ST
WALLA WALLA,WA99362 		  PC LEGACY 5,000

MILTON-FREEWATER MINISTERIAL ASSOCIATION

816 S MAIN ST
MILTONFREEWATER,OR97862 		  PC IMPACT 10,000

PHILANTHROPY NORTHWEST

600 UNIVERSITY ST SUITE 1725
SEATTLE,WA98101 		  PC INVITATIONAL 4,500

POWER HOUSE THEATRE

111 N 6TH AVE
WALLA WALLA,WA99362 		  PC IMPACT 15,000

PRESCOTT SCHOOL DISTRICT

207 A STREET
PRESCOTT,WA99348 		  GOV IMPACT 15,000

PROVIDENCE ST MARY FOUNDATION

1025 S SECOND AVE
WALLA WALLA,WA99362 		  PC CORE 15,000

RURAL ALLIANCE THE

27323 N DALTON RD
DEER PARK,WA99006 		  PC IMPACT 10,000

RURAL DEVELOPMENT INITIATIVES

91017 S WILLAMETTE S
COBERG,OR97408 		  PC INVITATIONAL 27,962

SALVATION ARMY

825 W ALDER ST
WALLA WALLA,WA99362 		  PC CORE/LEGACY 26,000

SHAKESPEARE WALLA WALLA

PO BOX 2875
WALLA WALLA,WA99362 		  PC IMPACT 15,000

SOCIAL VENTURE PARTNERS

1200 12TH AVE SUITE 101
SEATTLE,WA98114 		  PC INVITATIONAL 5,000

SOS HEALTH SERVICES

1200 SE 12TH ST SUITE 4
COLLEGE PLACE,WA99324 		  PC CORE 16,000

STUDENT HEALTH OPTIONS DBA THE HEALTH CENTER

PO BOX 1075
WALLA WALLA,WA99362 		  PC IMPACT 165,000

SUSTAINABLE LIVING CENTER

500 TAUSICK WAY
WALLA WALLA,WA99362 		  PC IMPACT 13,120

UNITED WAY OF BLUE MOUNTIANS

PO BOX 1134
WALLA WALLA,WA99362 		  PC CORE 15,000

UNIVERSITY OF WASHINGTON SMART CENTER

6200 NE 74TH ST SUTIE 110
SEATTLE,WA98115 		  GOV IMPACT 10,000

VITAL WINES

PO BOX 15
WALLA WALLA,WA99362 		  PC CORE 20,000

WAITSBURG HISTORICAL SOCIETY

PO BOX 341
WAITSBURG,WA99361 		  PC CORE 40,000

WALLA WALLA CHILD ADVOCATE PROGRAM

455 W ROSE ST
WALLA WALLA,WA99362 		  PC IMPACT 15,000

WALLA WALLA CITY POLICE DEPARTMENT

15 N 3RD AVE
WALLA WALLA,WA99362 		  GOV INVITATIONAL 12,000

WALLA WALLA COMMUNITY HOSPICE

1067 E ISAACS AVE
WALLA WALLA,WA99362 		  PC IMPACT 15,000

WALLA WALLA GUN CLUB

PO BOX 133
WALLA WALLA,WA99362 		  PC INVITATIONAL 100,000

WALLA WALLA PUBLIC SCHOOL DISTRICT FOR LINCOLN HIGH SCHOOL

421 S 4TH
WALLA WALLA,WA99362 		  GOV CORE 25,000

WALLA WALLA SENIOR CITIZENS CENTER DBA THE CENTER AT THE PARK

720 SPRAGUE AVE
WALLA WALLA,WA99362 		  PC LEGACY 1,000

WALLA WALLA SHERIFF'S FOUNDATION

1644 PLAZA WAY PMB 609
WALLA WALLA,WA99362 		  PC IMPACT 10,000

WALLA WALLA SYMPHONY

13-1/2 E MAIN STREET
WALLA WALLA,WA99362 		  PC LEGACY 5,000

WALLA WALLA UNIVERSITY FOR DONALD BLAKE CENTER

204 S COLLEGE AVE
COLLEGE PLACE,WA99324 		  GOV CORE 40,000

WALLA WALLA VALLEY HISTORICAL SOCIETY DB FORT WW

755 MYRA ROAD
WALLA WALLA,WA99362 		  PC LEGACY 5,000

YMCA OF WALLA WALLA

340 SOUTH PARK STREET
WALLA WALLA,WA99362 		  PC CORE/LEGACY 25,000

YWCA OF WALLA WALLA

213 S 1ST AVENUE
WALLA WALLA,WA99362 		  PC LEGACY 5,000
Total .................................right arrow 3a 1,188,373
bApproved for future payment
Total ................................. right arrow 3b 0
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 19  
4 Dividends and interest from securities ....     14 566,159  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 2,039,912  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aUBI - LIBERTY LAKE LAND COMPANY, LLC K-1 		  125,425      
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 125,425 2,606,090 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,731,515
(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

TY 2022 AccountingFeesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING & BOOKKEEPING 11,881 0   11,881

TY 2022 InvestmentsOtherSchedule2
Name:
SHERWOOD TRUST
EIN:
91-6337526
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BLACKSTONE PARTNERS FMV 5,498,852 5,498,852
LIBERTY LAKES LAND CO LLC FMV 2,375,292 2,375,292
WALLA WALLA COUNTRY CLUB FMV 100 100
AMERICAN FD EUROPACIFIC FMV 4,272,991 4,272,991
DODGE & COX - INCOME FUND FMV 1,928,476 1,928,476
DODGE & COX - INTERNATIONAL STOCK FMV 4,095,628 4,095,628
DODGE & COX - STOCK FUND FMV 4,903,274 4,903,274
T.ROWE PRICE - LG CAP GROWTH FMV 4,314,793 4,314,793
VANGUARD SMALL CAP INDEX FMV 1,246,623 1,246,623
VANGUARD INFLATION FMV 920,142 920,142
VOYA FLOATING RATE FD FMV 1,537,551 1,537,551
CHARLES SCHWAB CASH FMV 6 6
ASHMORE EMRG MKTS FMV 1,289,979 1,289,979
VANGUARD ULTRA-SHORT-TER FMV 1,804,288 1,804,288

TY 2022 OtherDecreasesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Description Amount
INVESTMENT VALUATION ADJUSTMENT 4,907,237


TY 2022 OtherExpensesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INSURANCE 2,406 0   2,406
CONFERENCES & MEETINGS 56,374 0   56,374
OFFICE EXPENSE 5,597 840   4,757
COMMUNICATIONS 5,286 793   4,493
DUES 535 80   455
IT OTHER 14,053 0   14,053
EXPONENT PHILANTHROPY 815 0   815
ROTARY 904 0   904
WW CHAMBER 340 0   340
BOARD DEVELOPMENT 380 0   380


TY 2022 OtherIncomeSchedule2
Name:
SHERWOOD TRUST
EIN:
91-6337526
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
UBI - LIBERTY LAKE LAND COMPANY, LLC K-1 125,425   125,425


TY 2022 OtherLiabilitiesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED COMPENSATION PAYABLE 50,651 38,089


TY 2022 OtherProfessionalFeesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT CONSULTING 75,025 75,025   0
PROFESSIONAL DEVELOPMENT 3,095 0   3,095


TY 2022 TaxesSchedule
Name:
SHERWOOD TRUST
EIN:
91-6337526
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAX 16,660 2,499   14,097
LIBERTY LAKE REAL ESTATE TAXES 45,750 0   0
EXCISE TAX 37,277 0   0