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
NORMAN AND ANN HOFFMAN FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)7750 RUTZ LAKE RD
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WACONIA, MN55387

A Employer identification number

45-3080856

B Telephone number (see instructions)

(952) 270-6862

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

$6,560,932J 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)	8,055
2	Check .............
3	Interest on savings and temporary cash investments	20,229		26,752
4	Dividends and interest from securities...	126,206		111,256
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		10,027
b	Gross sales price for all assets on line 6a 657,998
7	Capital gain net income (from Part IV, line 2)...			10,027
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	164,517		148,035
13	Compensation of officers, directors, trustees, etc.	7,466		0	7,466
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	3,500	0	3,500
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	8,400	4,200	4,200
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	28,276	28,276	0
17	Interest...............	754		754	0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	3,409	334	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	73	0	73
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	51,878		33,564	15,239
25	Contributions, gifts, grants paid.......	220,555			220,555
26	Total expenses and disbursements. Add lines 24 and 25	272,433		33,564	235,794
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-107,916
b	Net investment income (if negative, enter -0-)			114,471
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.............	7,122	2,111	2,111
	2	Savings and temporary cash investments.........	61,163	504,380	505,116
	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)
	b	Investments—corporate stock (attach schedule).......	553,396	List of Attached Documents: // Content 574,879	727,078
	c	Investments—corporate bonds (attach schedule).......	613,085	List of Attached Documents: // Content 510,527	482,497
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,642,962	List of Attached Documents: // Content 3,160,943	4,844,130
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,877,728	4,752,840	6,560,932
	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........	-355,761	-355,761
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	5,233,489	5,108,601
	29	Total net assets or fund balances (see instructions).....	4,877,728	4,752,840
	30	Total liabilities and net assets/fund balances (see instructions).	4,877,728	4,752,840

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

4,877,728

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

-107,916

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

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

4,769,812

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

16,972

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

4,752,840

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
1 a	SALE OF PUBLICLY TRADED SECURITIES	P
b	CAPITAL GAINS DIVIDENDS	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	647,407	647,971	-564
b	10,591		10,591
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-564
b			10,591
c
d
e

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	10,027
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	1,591
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	1,591
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	1,591
6	Credits/Payments:

a	2022 estimated tax payments and 2021 overpayment credited to 2022	6a	3,838
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	3,838
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. List of Attached Documents: // Content		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	2,247
11	Enter the amount of line 10 to be: Credited to 2023 estimated tax2,247	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?.........

Yes

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

Yes

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

GERALD R STORMS Telephone no. right arrow

(952) 270-6862

Located at right arrow

7750 RUTZ LAKE RDWACONIAMN ZIP+4 right arrow

55387

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-)
NORMAN H HOFFMAN	DIRECTOR 0.10	0
116 LAKE STREET WEST WACONIA,MN55387	DIRECTOR 0.10	0
ANNA M HOFFMAN	DIRECTOR 0.10	0
116 LAKE STREET WEST WACONIA,MN55387	DIRECTOR 0.10	0
GERALD R STORMS	DIRECTOR/VP/TREASURER 1.00	7,466
116 LAKE STREET WEST WACONIA,MN55387	DIRECTOR/VP/TREASURER 1.00	7,466
JEANNE H HOFFMAN	DIRECTOR/PRESIDENT 1.00	0
116 LAKE STREET WEST WACONIA,MN55387	DIRECTOR/PRESIDENT 1.00	0
JULIA K HOFFMAN	DIRECTOR/SECRETARY 1.00	0
116 LAKE STREET WEST WACONIA,MN55387	DIRECTOR/SECRETARY 1.00	0

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

6,430,111

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

95,710

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

400,000

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

6,925,821

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

6,925,821

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

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

103,887

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

6,821,934

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

341,097

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

341,097

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

1,591

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

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

1,591

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

339,506

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

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

339,506

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

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

339,506

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 ..........

235,794

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. .......

235,794

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					339,506
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2017......
b From 2018......	742,072
c From 2019......	1,852,661
d From 2020......
e From 2021......
f Total of lines 3a through e ........		2,594,733
4Qualifying distributions for 2022 from Part
XI, line 4: $ 235,794
a Applied to 2021, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2022 distributable amount.....					235,794
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2022.		103,712			103,712
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		2,491,021
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 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 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 ......		2,491,021
10 Analysis of line 9:
a Excess from 2018....	638,360
b Excess from 2019....	1,852,661
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).)

NORMAN H HOFFMAN

ANNA M HOFFMAN

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
AMERICAN DIABETES ASSOCIATION PO BOX 7023 MERRIFIELD,VA221167023	N/A	PC	PROGRAM SUPPORT	25,000
ART LITERATURE LABORATORY 111 S LIVINGSTON STREET 100 MADISON,WI53703	N/A	PC	PROGRAM SUPPORT	425
ASCENSION CATHOLIC SCHOOL 1723 BRYANT AVE N MINNEAPOLIS,MN55411	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	5,000
CARVER COUNTY MN 604 EAST 4TH STREET CHASKA,MN55318	N/A	GOV	CONEY ISLAND & WACONIA REGIONAL PARK SUPPORT	2,205
HOLY FAMILY CATHOLIC HIGH SCHOOL 8101 KOCHIA LANE VICTORIA,MN55386	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	25,000
LA CROSSE CITIZEN ADVOCACY 1035 GREEN BAY ST LA CROSSE,WI54601	N/A	PC	PROGRAM SUPPORT	1,100
LIBRARY FOUNDATION-CARVER COUNTY 217 S VINE STREET WACONIA,MN55387	N/A	PC	PROGRAM SUPPORT	5,000
NET MINISTRIES 110 CRUSADER AVE W WEST ST PAUL,MN551184427	N/A	PC	PROGRAM SUPPORT	30,000
SHARING AND CARING HANDS 525 N 7TH ST MINNEAPOLIS,MN55405	N/A	PC	PROGRAM SUPPORT	5,000
SOUTHWEST OPTIONS FOR WOMEN 574 PRAIRIE CENTER DR 130 EDEN PRAIRIE,MN553447927	N/A	PC	PROGRAM SUPPORT	10,000
ST JOSEPH CATHOLIC CHURCH 41 E 1ST STREET WACONIA,MN55387	N/A	PC	PROGRAM SUPPORT	20,000
ST PAUL SEMINARY SCHOOL OF DIVINITY 2260 SUMMIT AVE ST PAUL,MN55105	N/A	PC	EDUCATION - GENERAL PROGRAM SUPPORT	25,000
UNIVERSITY OF MINNESOTA FOUNDATION 200 OAK STREET SE SUITE 500 MINNEAPOLIS,MN554552010	N/A	PC	MN GROW YOUR OWN TEACHERS PROGRAM SUPPORT	1,600
UNIVERSITY OF MINNESOTA FOUNDATION PO BOX 860266 MINNEAPOLIS,MN554860266	N/A	PC	HOFFMAN FAMILY FUND IN EDUCATION SUPPORT	50,000
UNIVERSITY OF MINNESOTA FOUNDATION PO BOX 860266 MINNEAPOLIS,MN554860266	N/A	PC	MASTER GARDENER VOLUNEER PROGRAM SUPPORT	2,500
UNIVERSITY OF NORTH DAKOTA FOUNDATION 3100 UNIVERSITY AVE GRAND FORKS,ND582028157	N/A	PC	PROGRAM SUPPORT	10,000
VITERBO UNINVERSITY - NURSING PROGRAM 900 VITERBO DRIVE LA CROSSE,WI54601	N/A	PC	N.U.R.S.E.S PROGRAM SUPPORT	1,850
WISCONSIN YOUTH SYMPHONY ORCHESTRAS PO BOX 258039 MADISON,WI53725	N/A	PC	PROGRAM SUPPORT	875
Total ................................. 3a				220,555

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	20,229
4 Dividends and interest from securities ....			14	126,206
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	10,027
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		156,462	0

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

156,462

(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 AccountingFeesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREP FEES	8,400	4,200		4,200

- TIN:

TY 2022 InvestmentsCorpBondsSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Name of Bond	End of Year Book Value	End of Year Fair Market Value
MURPHY OIL CORP SR NOTE	49,370	47,874
CARDINAL HLTH INC NOTE	55,122	54,844
DELTA AIR LINES INC DE NOTE	49,125	47,369
DISCOVER FINL SVCS SR NOTE	51,357	48,698
FLUOR CORP NEW SR NOTE	49,569	48,000
HARLEY DAVIDSON INC SR NOTE	50,601	47,568
MARRIOTT INTL INC NEW NOTE SER P	50,451	47,993
KRAFT HEINZ FOODS CO GTD SR NOTE	50,506	46,854
MCDONALDS CORP MEDIUM TERM NOTE	51,614	47,670
AIR LEASE CORP SR NOTE 3.625% DUE 04/01/27	52,812	45,627

- TIN:

TY 2022 InvestmentsCorpStockSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3M COMPANY	29,644	20,986
ABBVIE INC	35,912	40,402
ALPHABET INC CL A	55,684	88,230
AMAZON.COM INC	79,510	84,000
GOLDMAN SACHS GROUP INC	60,944	111,599
INTL BUSINESS MACHINES	34,059	35,223
JPMORGAN CHASE & CO	79,801	107,280
MICROSOFT CORP	46,366	71,946
ONEOK INC NEW	52,994	65,700
SALESFORCE.COM INC	51,800	39,777
WELLS FARGO & CO NEW	48,165	61,935

- TIN:

TY 2022 InvestmentsOtherSchedule2

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BRIDGEWATER BANCSHARES INC DEP SHS 1/100TH INT PERPTL A PFD	AT COST	52,108	41,000
BRIGHTHOUSE FINL INC REPSTG 1/1000TH INT NON CUML A PERPTL 6.6%	AT COST	63,300	55,000
DIGITALBRIDGE GROUP INC PFD	AT COST	129,463	131,320
GOLDMAN SACHS GROUP INC DEP SH REPSTG 1/1000	AT COST	74,838	55,320
JPMORGAN CHASE & CO DEP SHS REPSTG 1/400TH INT NON CUML	AT COST	78,020	55,830
M & T BANK CORP PERPETL NON CUML PFD	AT COST	47,700	46,800
PUBLIC STORAGE DEP SHS REPSTG 1/1000TH	AT COST	99,480	76,440
TWO HARBORS INVESTMENT CORP SER B FXD/VAR	AT COST	49,621	37,860
VORNADO REALITY TRUST SER O CUML 4.45%	AT COST	74,130	40,800
WELLS FARGO & COMPANY PERPETUAL PFD	AT COST	67,732	53,325
FIRST TRUST NASDAQ CYBERSECURITY ETF	AT COST	51,600	96,775
GLOBAL X LITHIUM & BATTERY TECH ETF	AT COST	44,391	35,167
INVESCO DWA CONSUMER CYCLICALS MOMENTUM ETF	AT COST	29,840	128,072
INVESCO DWA CONSUMER STAPLES MOMENTUM ETF	AT COST	85,897	206,650
INVESCO DWA UTILITIES MOMENTUM ETF	AT COST	45,204	102,570
ISHARES 1-5 YEAR INVESTMENT	AT COST	96,265	87,185
ISHARES BIOTECHNOLOGY ETF	AT COST	104,530	229,757
ISHARES EXPANDED TECH SOFTWARE SECTOR ETF	AT COST	92,522	223,869
ISHARES GLOBAL INDUSTRIALS ETF	AT COST	50,631	95,841
ISHARES RUSSELL 1000 VALUE ETF	AT COST	52,852	136,485
ISHARES RUSSELL 2000 GROWTH ETF	AT COST	116,257	209,157
ISHARES RUSSELL MID CAP ETF	AT COST	17,368	84,313
ISHARES TECHNOLOGY ETF	AT COST	76,635	193,674
ISHARES TIPS BOND ETF	AT COST	145,018	122,406
ISHARES US HEALTHCARE ETF	AT COST	86,439	170,226
ISHARES US INDUSTRIALS ETF	AT COST	63,814	115,752
ISHARES U S MEDICAL DEVICES ETF	AT COST	71,976	157,710
PACER TRENDPILOT MID CAP ETF	AT COST	35,510	31,210
PACER TRENDPILOT US BOND ETF	AT COST	33,598	25,137
PACER LUNT LARGE CAP ALTERNATOR ETF	AT COST	44,843	40,460
PIMCO INVESTMENT GRADE CORPORATE BOND INDEX ETF	AT COST	81,175	65,100
SECTOR ENERGY SELECT SECTOR SPDR ETF	AT COST	73,134	153,072
SECTOR FINANCIAL SELECT SECTOR SPDR ETF	AT COST	34,989	136,800
SECTOR MATERIALS SELECT SECTOR SPDR ETF	AT COST	22,240	77,680
SELECT SECTOR COMMUNICATION SERVICES SELECT SECTOR SPDR ETF	AT COST	51,888	59,988
SPDR S&P DEVELOPED WORLD EX US ETF	AT COST	120,289	178,140
SPDR SERIES TRUST S&P DIVIDEND ETF	AT COST	94,020	187,665
VANGUARD COMMUNICATION SERVICES ETF	AT COST	62,105	82,250
VANGUARD INDUSTRIALS ETF	AT COST	16,428	73,056
VANGUARD INFORMATION TECHNOLOGY ETF	AT COST	26,757	255,528
EATON VANCE TAX MANAGED DIVERSIFIED	AT COST	46,350	43,440
EATON VANCE TAX MANAGED GLBL DIVERSIFIED	AT COST	49,986	45,300
ENTROPY SOLUTIONS LLC	AT COST	400,000	400,000

- TIN:

TY 2022 LegalFeesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	3,500	0		3,500

- TIN:

TY 2022 OtherDecreasesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Description	Amount
BASIS ADJUSTMENT	16,972

- TIN:

TY 2022 OtherExpensesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MISC EXPENSE	48	0		48
MN ANNUAL FEE	25	0		25

- TIN:

TY 2022 OtherProfessionalFeesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEE	28,276	28,276		0

- TIN:

TY 2022 TaxesSchedule

Name:

NORMAN AND ANN HOFFMAN FOUNDATION

EIN:

45-3080856

Category	Amount	Net Investment Income
2021 MN UNRELATED BUSINESS INCOME TAX PAID	75	0
2021 EXTENSION TAX PAYMENT	3,000	0
FOREIGN TAX WITHHELD	334	334