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
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
 
Number and street (or P.O. box number if mail is not delivered to street address)2300 SOUTH COLUMBIA ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GRAND FORKS, ND58201
A Employer identification number

26-6312571
B Telephone number (see instructions)

(701) 795-3211
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$1,682,286J 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      
4 Dividends and interest from securities... 38,527 38,169  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -96,069
b Gross sales price for all assets on line 6a 2,432,741
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
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
479 479  
12 Total. Add lines 1 through 11........ -57,063 38,648  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 12,279 12,279   12,279
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
582 582 0 0
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
785 566   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,177 3,177    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 16,823 16,604 0 12,279
25 Contributions, gifts, grants paid....... 42,000 42,000
26 Total expenses and disbursements. Add lines 24 and 25 58,823 16,604 0 54,279
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -115,886
b Net investment income (if negative, enter -0-) 22,044
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 33,133 78,555 78,555
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
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)....... 1,131,090 Click to see attachment
List of Attached Documents:
// Content
1,030,483 		1,132,648
c Investments—corporate bonds (attach schedule)....... 517,927 Click to see attachment
List of Attached Documents:
// Content
455,757 		471,083
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)..........     0
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,682,150 1,564,795 1,682,286
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
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........ 1,682,150 1,564,795
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,682,150 1,564,795
30 Total liabilities and net assets/fund balances (see instructions). 1,682,150 1,564,795
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
1,682,150
2
Enter amount from Part I, line 27a .....................
2
-115,886
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
1,566,264
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
1,546
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,564,718
Form 990-PF (2023)
Form 990-PF (2023)
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 189. COUPA SOFTWARE INCORPORATED COM   2022-06-27 2023-02-28
b 60849.025 COMMON TRUST FUND B-BOND FUND   2021-12-31 2023-02-28
c 10.471 COMMON TRUST FUND INTERNATIONAL   2022-05-31 2023-02-28
d 18494.322 COMMON TRUST FUND INTERNATIONAL   2021-12-31 2023-02-28
e 28. ALIGN TECHNOLOGY INC   2022-09-30 2023-03-02
260. AMAZON.COM INC   2022-02-08 2023-03-02
53. AMERICAN EXPRESS COMPANY   2022-09-16 2023-03-02
24. AMERICAN EXPRESS COMPANY   2021-09-09 2023-03-02
37. ANTHEM INC COM   2022-06-08 2023-03-02
26. ASSURANT INC   2022-06-13 2023-03-02
60. ATLASSIAN CORPORATION CL A   2022-06-27 2023-03-02
126. BALL CORPORATION   2022-08-22 2023-03-02
161. BOSTON SCIENTIFIC CORP   2020-11-10 2023-03-02
241. CARVANA CO CL A   2022-09-30 2023-03-02
89. CELANESE COPRORATION   2022-08-22 2023-03-02
24. COSTCO WHSL CORP   2022-07-07 2023-03-02
90.724 DIMENSIONAL US SMALL CAP VALUE   2021-01-15 2023-03-02
26. ELECTRONIC ARTS INC DEL   2021-11-23 2023-03-02
34. EXPEDIA INC   2021-11-17 2023-03-02
156.77 FIDELITY ADVISOR SMALL CAP GROWTH Z   2018-01-31 2023-03-02
101. HARTFORD FINANCIAL SVCS GROUP   2022-06-01 2023-03-02
101. HARTFORD FINANCIAL SVCS GROUP   2022-01-28 2023-03-02
36. HUBSPOT INC COM   2022-06-27 2023-03-02
33. ILLUMINA INC   2022-07-19 2023-03-02
75. ISHARES DOW JONES US REAL ESTATE   2022-07-18 2023-03-02
83. JOHNSON AND JOHNSON   2022-06-08 2023-03-02
27. NORTHRUP GRUMMAN CORP   2022-03-22 2023-03-02
217. SELECT SECTOR SPDR ETF HEALTH CARE   2022-04-29 2023-03-02
141. SELECT SECTOR SPDR ETF HEALTH CARE   2022-02-25 2023-03-02
143. SELECT SECTOR SPDR ETF CONSUMER DISCRETI   2022-08-12 2023-03-02
45.00001 SELECT SECTOR SPDR ETF ENERGY   2022-06-08 2023-03-02
206.99999 SELECT SECTOR SPDR ETF ENERGY   2022-06-08 2023-03-02
330. SELECT SECTOR SPDR ETF ENERGY   2021-04-20 2023-03-02
333. SELECT SECTOR SPDR ETF FINANCIAL   2022-06-13 2023-03-02
845.99924 SELECT SECTOR SPDR ETF FINANCIAL   2022-01-12 2023-03-02
276.00076 SELECT SECTOR SPDR ETF FINANCIAL   2021-11-19 2023-03-02
312. SELECT SECTOR SPDR ETF INDL   2022-08-22 2023-03-02
26. SELECT SECTOR SPDR ETF INDL   2021-12-16 2023-03-02
147. SELECT SECTOR SPDR ETF UTILITIES   2022-07-19 2023-03-02
76.99985 SELECT SECTOR SPDR ETF UTILITIES   2022-02-11 2023-03-02
110.00015 SELECT SECTOR SPDR ETF UTILITIES   2022-02-04 2023-03-02
95. SNOWFLAKE INC CL A   2022-05-11 2023-03-02
16. VISA INC   2011-11-10 2023-03-02
128. CHEVRONTEXACO CORP COM   2023-03-02 2023-03-08
58. SPDR   2022-05-13 2023-03-08
17. ARTHUR J GALLAGHER & CO   2023-03-02 2023-03-09
89. CBOE HOLDINGS INC   2023-03-02 2023-03-13
413. REGIONS FINANCIAL CORP   2023-03-13 2023-03-15
30. SELECT SECTOR SPDR ETF ENERGY   2022-06-03 2023-03-15
502.00011 SELECT SECTOR SPDR ETF TECHNOLOGY   2022-02-08 2023-03-15
38.99989 SELECT SECTOR SPDR ETF TECHNOLOGY   2021-12-20 2023-03-15
44. ALBEMARLE CORP   2023-03-02 2023-03-16
180. ANHEUSER BUSCH INBEV   2022-08-16 2023-03-16
68. ANHEUSER BUSCH INBEV   2022-03-03 2023-03-16
53. SELECT SECTOR SPDR ETF TECHNOLOGY   2021-08-25 2023-03-16
125. BUNGE LTD   2023-03-02 2023-03-16
80. BUNGE LTD   2021-06-17 2023-03-16
101. SELECT SECTOR SPDR ETF FINANCIAL   2022-06-13 2023-03-17
1933. SNAP INC CL A   2022-08-22 2023-03-17
155. COMERICA INC   2023-03-02 2023-03-24
35. DEERE & CO   2023-03-02 2023-03-29
72. SELECT SECTOR SPDR ETF TECHNOLOGY   2021-08-31 2023-03-29
144. SELECT SECTOR SPDR ETF MATERIALS   2023-03-16 2023-04-14
70. UNION PAC CORP   2023-03-02 2023-04-14
329. FIFTH THIRD BANCORP   2023-03-24 2023-04-19
150. ISHARES DOW JONES US REAL ESTATE   2022-09-16 2023-04-19
177. SELECT SECTOR SPDR ETF ENERGY   2022-06-08 2023-04-19
52. SELECT SECTOR SPDR ETF FINANCIAL   2021-09-30 2023-04-20
220. SELECT SECTOR SPDR ETF FINANCIAL   2021-11-19 2023-04-20
12. BERKSHIRE HATHAWAY CL B   2023-03-02 2023-04-26
18. ARTHUR J GALLAGHER & CO   2023-03-02 2023-04-26
136.00193 SELECT SECTOR SPDR ETF FINANCIAL   2021-09-01 2023-04-28
36.99807 SELECT SECTOR SPDR ETF FINANCIAL   2021-09-01 2023-04-28
201. SPDR S P REGL BKG   2023-04-20 2023-05-04
29. RAYMOND JAMES FINANCIAL INC   2023-03-09 2023-05-17
83. SELECT SECTOR SPDR ETF HEALTH CARE   2023-04-14 2023-05-17
236. SELECT SECTOR SPDR ETF FINANCIAL   2022-06-13 2023-05-17
88. SELECT SECTOR SPDR ETF FINANCIAL   2021-11-19 2023-05-17
62. CHUBB LIMITED   2023-03-02 2023-05-25
35. BURLINTON STORES   2023-03-02 2023-06-01
85. NIKE INC CL B   2023-03-02 2023-06-01
130. OKTA INCORPORATION CL A   2022-09-30 2023-06-01
62. RH COM   2023-03-02 2023-06-01
57. ELECTRONIC ARTS INC DEL   2021-11-23 2023-06-05
278. CAMPBELL SOUP CO   2023-03-16 2023-06-13
238.51 COHEN AND STEERS GLOBAL REALTY I   2020-07-29 2023-06-27
167. ALPHABET INC CLASS A   2023-03-17 2023-06-29
33. CENCORA INC COM   2023-03-02 2023-06-29
10. HUMANA INC   2023-03-02 2023-06-29
25. SELECT SECTOR SPDR ETF INDL   2023-04-14 2023-06-29
212. PAPA JOHN'S   2023-03-02 2023-07-05
45. SELECT SECTOR SPDR ETF UTILITIES   2022-02-04 2023-07-06
27. TAKE-2 INTERACTIVE SOFTWARE   2021-03-18 2023-07-06
101. VICI PROPERTIES INC COM   2023-03-02 2023-07-06
27. ALPHABET INC CLASS A   2023-03-17 2023-07-12
37. MICROSOFT, INC.   2023-03-15 2023-07-13
71. ORACLE SYSTEMS, INC.   2023-03-02 2023-07-13
207. VICI PROPERTIES INC COM   2023-03-02 2023-07-14
253. ACTIVISION BLIZZARD INC   2023-06-05 2023-07-18
94. SELECT SECTOR SPDR ETF CONSUMER DISCRETI   2023-06-01 2023-07-19
308. ADR BHP BILLITON LTD   2023-03-02 2023-07-20
185. EXXON MOBIL CORP COM   2023-03-02 2023-07-20
40. HUMANA INC   2023-03-02 2023-07-20
65. PIONEER NATUAL RESOURCES CO   2023-04-19 2023-07-20
799. MATTEL INC   2023-07-05 2023-07-26
148. RTX CORPORATION   2023-03-02 2023-07-26
111. SELECT SECTOR SPDR ETF CONSUMER DISCRETI   2023-06-01 2023-07-31
382. SELECT SECTOR SPDR ETF   2023-07-18 2023-07-31
414. FIFTH THIRD BANCORP   2023-05-25 2023-08-02
24. S P GLOBAL INC COM   2023-04-28 2023-08-04
34. SELECT SECTOR SPDR ETF CONSUMER DISCRETI   2023-06-01 2023-08-10
144. ADVANCE AUTO PARTS INC   2023-07-24 2023-08-22
30. ADVANCE AUTO PARTS INC   2021-09-10 2023-08-22
1132. MACYS INC   2023-07-26 2023-08-23
104. ELECTRONIC ARTS INC DEL   2022-08-24 2023-08-30
109. SELECT SECTOR SPDR ETF CONSUMER STAPLES   2023-06-13 2023-08-30
74. SELECT SECTOR SPDR ETF TECHNOLOGY   2023-07-13 2023-08-30
354. SELECT SECTOR SPDR ETF TECHNOLOGY   2022-04-01 2023-08-30
11. BERKSHIRE HATHAWAY CL B   2023-03-02 2023-08-31
713.163 CAUSEWAY INTERNATIONAL VALUE CLASS I   2023-03-02 2023-08-31
1224.838 DIMENSIONAL DFA WORLD EX US CORE EQUITY   2023-03-02 2023-08-31
816.548 FIDELITY EMERGING MARKETS INDEX   2023-03-02 2023-08-31
54. SELECT SECTOR SPDR ETF ENERGY   2023-07-20 2023-08-31
27. WAL MART STORES, INC.   2023-03-02 2023-08-31
140. CMS ENERGY CORP COM   2023-03-02 2023-09-13
204. ENOVIS CORPORATION COM   2023-05-22 2023-09-13
163. GE HEALTHCARE TECHNOLOGIES INC. COMMON S   2023-03-15 2023-09-13
123. CMS ENERGY CORP COM   2023-03-02 2023-09-19
102. DOLLAR TREE INC   2023-03-16 2023-09-19
159. ESSENTIAL PROPERTIES TRUST REALTY INC   2023-07-24 2023-09-19
7.00008 SELECT SECTOR SPDR ETF UTILITIES   2022-02-04 2023-09-19
57.99992 SELECT SECTOR SPDR ETF UTILITIES   2022-02-04 2023-09-19
39. ULTA SALON COSMETICS & FRAGRANCE   2023-08-22 2023-09-19
28. TAKE-2 INTERACTIVE SOFTWARE   2021-03-18 2023-09-28
188. ABBOTT LABORATORIES   2023-07-20 2023-10-06
169. ALIBABA GROUP HLDG LTD   2023-03-29 2023-10-06
22. CENCORA INC COM   2023-03-02 2023-10-06
19. MICROSOFT, INC.   2023-03-15 2023-10-06
44. ORACLE SYSTEMS, INC.   2023-03-02 2023-10-06
43. SPDR   2022-05-13 2023-10-06
37. SELECT SECTOR SPDR ETF ENERGY   2023-07-20 2023-10-06
24. HEICO CORPORATION   2023-03-02 2023-10-10
206. REGIONS FINANCIAL CORP   2023-08-02 2023-10-11
135. WELLS FARGO & CO NEW COM STK   2023-05-04 2023-10-11
76. SPDR   2023-03-02 2023-10-13
61. SPDR   2022-09-30 2023-10-13
303. REGIONS FINANCIAL CORP   2023-08-02 2023-10-17
1844.52 FIDELITY EMERGING MARKETS INDEX   2023-03-02 2023-10-24
62. INTERCONTINENTAL EXCHANGE GRP   2023-05-17 2023-10-25
121. SELECT SECTOR SPDR ETF MATERIALS   2023-07-20 2023-10-25
.789 ALLIANCEBERNSTEIN HIGH INCOME ADVISOR   2023-03-02 2023-11-01
36. SPDR TR UNIT SER 1   2023-10-25 2023-11-03
52. SELECT SECTOR SPDR ETF ENERGY   2023-07-20 2023-11-06
86. PROLOGIS INC. COM   2023-04-19 2023-11-10
38. SELECT SECTOR SPDR ETF ENERGY   2023-07-20 2023-11-10
14. TESLA MTRS INC   2023-07-19 2023-11-10
256. VANECK VECTORS ETF TR PHARMACEUTICAL ETF   2023-03-02 2023-11-10
551. VANGUARD LONG-TERM CORP BOND ETF   2023-03-02 2023-11-10
58. SELECT SECTOR SPDR ETF INDL   2023-04-14 2023-11-15
44. SELECT SECTOR SPDR ETF ENERGY   2023-07-20 2023-11-17
135. WAL MART STORES, INC.   2023-03-16 2023-11-17
88. WESCO INTERNATIONAL INC   2023-03-02 2023-11-17
109. SELECT SECTOR SPDR ETF UTILITIES   2023-11-03 2023-11-24
58. SELECT SECTOR SPDR ETF UTILITIES   2022-02-04 2023-11-24
133. ORACLE SYSTEMS, INC.   2023-03-02 2023-12-06
16. CENCORA INC COM   2023-03-02 2023-12-07
71. SELECT SECTOR SPDR ETF HEALTH CARE   2023-10-13 2023-12-07
59. APTARGROUP INC   2023-10-25 2023-12-14
2. TAKE-2 INTERACTIVE SOFTWARE   2023-03-02 2023-12-14
39. TAKE-2 INTERACTIVE SOFTWARE   2022-06-27 2023-12-14
126. VANECK VECTORS ETF TR PHARMACEUTICAL ETF   2023-12-07 2023-12-14
30. MICROSOFT, INC.   2023-03-15 2023-12-15
41. SELECT SECTOR SPDR ETF CONSUMER DISCRETI   2023-08-23 2023-12-15
17. CENCORA INC COM   2023-03-02 2023-12-22
8. ELI LILLY & COMPANY   2023-10-06 2023-12-22
29. ORACLE SYSTEMS, INC.   2023-03-02 2023-12-22
87. SELECT SECTOR SPDR ETF CONSUMER STAPLES   2023-06-13 2023-12-22
CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 15,309   12,044 3,265
b 462,226   457,338 4,888
c 147   184 -37
d 260,307   303,478 -43,171
e 8,627   7,289 1,338
23,695   27,012 -3,317
9,183   8,433 750
4,159   3,944 215
17,318   18,442 -1,124
3,260   4,521 -1,261
9,799   12,132 -2,333
6,833   7,672 -839
7,506   6,002 1,504
2,064   6,661 -4,597
10,765   9,950 815
11,557   11,870 -313
3,859   3,401 458
2,891   3,319 -428
3,554   5,899 -2,345
4,106   4,115 -9
7,769   7,245 524
7,769   7,186 583
13,685   12,006 1,679
6,580   6,396 184
6,424   6,885 -461
12,611   14,759 -2,148
12,544   11,955 589
27,493   29,548 -2,055
17,864   19,087 -1,223
20,337   24,247 -3,910
3,855   4,169 -314
17,735   18,817 -1,082
28,273   15,530 12,743
11,675   11,551 124
29,661   34,988 -5,327
9,677   10,574 -897
31,637   30,369 1,268
2,636   2,702 -66
9,401   10,315 -914
4,924   5,278 -354
7,035   7,581 -546
12,566   12,695 -129
3,487   373 3,114
20,744   20,867 -123
4,680   3,991 689
3,186   3,140 46
10,954   11,250 -296
7,159   7,926 -767
2,299   2,665 -366
69,804   82,559 -12,755
5,423   6,453 -1,030
9,334   10,941 -1,607
10,881   9,869 1,012
4,110   3,953 157
7,562   8,351 -789
12,099   12,246 -147
7,743   5,280 2,463
3,124   3,216 -92
20,420   26,424 -6,004
6,362   10,717 -4,355
13,986   14,750 -764
10,551   11,331 -780
11,637   11,029 608
13,878   14,590 -712
9,207   8,451 756
12,801   13,730 -929
15,201   15,946 -745
1,734   1,765 -31
7,335   7,572 -237
3,836   3,633 203
3,690   3,324 366
4,498   4,702 -204
1,224   1,279 -55
7,276   8,791 -1,515
2,527   2,944 -417
10,862   11,163 -301
7,659   7,514 145
2,856   3,090 -234
11,836   13,040 -1,204
5,107   7,703 -2,596
8,833   10,114 -1,281
9,724   12,689 -2,965
15,198   18,051 -2,853
7,256   7,277 -21
12,754   15,011 -2,257
11,770   12,178 -408
19,816   16,983 2,833
6,301   5,138 1,163
4,438   4,940 -502
2,650   2,495 155
15,624   17,948 -2,324
2,966   3,234 -268
3,876   4,565 -689
3,123   3,398 -275
3,219   2,746 473
12,654   9,750 2,904
8,362   6,130 2,232
6,493   6,965 -472
23,499   20,209 3,290
16,612   14,474 2,138
18,790   19,634 -844
19,092   20,585 -1,493
17,963   19,760 -1,797
13,825   14,760 -935
16,784   16,040 744
12,674   14,569 -1,895
19,240   17,091 2,149
26,205   25,780 425
11,664   10,374 1,290
9,292   8,685 607
5,788   5,235 553
9,673   17,214 -7,541
2,015   5,476 -3,461
13,977   18,605 -4,628
12,537   13,153 -616
7,947   8,008 -61
12,914   12,761 153
61,779   56,396 5,383
3,966   3,331 635
13,700   12,602 1,098
15,115   14,808 307
8,051   7,970 81
4,802   4,506 296
4,394   3,796 598
7,958   7,975 -17
10,915   11,463 -548
10,526   12,444 -1,918
6,996   7,007 -11
11,253   14,219 -2,966
3,723   4,058 -335
449   503 -54
3,720   4,169 -449
15,989   16,763 -774
3,901   4,708 -807
18,228   21,022 -2,794
14,575   17,037 -2,462
4,025   3,426 599
6,220   5,007 1,213
4,844   3,799 1,045
3,116   2,959 157
3,191   3,088 103
4,009   4,124 -115
3,378   4,202 -824
5,329   4,964 365
5,265   6,247 -982
4,226   4,464 -238
5,046   6,180 -1,134
17,246   18,003 -757
6,580   6,749 -169
9,010   10,145 -1,135
5   5  
15,673   15,397 276
4,450   4,339 111
8,926   10,781 -1,855
3,159   3,171 -12
3,009   4,093 -1,084
19,461   19,351 110
39,353   41,374 -2,021
6,098   5,788 310
3,731   3,672 59
21,051   18,923 2,128
13,317   14,688 -1,371
6,802   6,805 -3
3,619   3,889 -270
14,986   11,483 3,503
3,210   2,491 719
9,357   9,245 112
7,504   7,276 228
328   227 101
6,387   5,694 693
10,012   9,631 381
11,112   7,905 3,207
7,320   6,821 499
3,457   2,647 810
4,555   4,487 68
3,071   2,504 567
6,196   6,260 -64
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
      1,940
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       3,265
b       4,888
c       -37
d       -43,171
e       1,338
      -3,317
      750
      215
      -1,124
      -1,261
      -2,333
      -839
      1,504
      -4,597
      815
      -313
      458
      -428
      -2,345
      -9
      524
      583
      1,679
      184
      -461
      -2,148
      589
      -2,055
      -1,223
      -3,910
      -314
      -1,082
      12,743
      124
      -5,327
      -897
      1,268
      -66
      -914
      -354
      -546
      -129
      3,114
      -123
      689
      46
      -296
      -767
      -366
      -12,755
      -1,030
      -1,607
      1,012
      157
      -789
      -147
      2,463
      -92
      -6,004
      -4,355
      -764
      -780
      608
      -712
      756
      -929
      -745
      -31
      -237
      203
      366
      -204
      -55
      -1,515
      -417
      -301
      145
      -234
      -1,204
      -2,596
      -1,281
      -2,965
      -2,853
      -21
      -2,257
      -408
      2,833
      1,163
      -502
      155
      -2,324
      -268
      -689
      -275
      473
      2,904
      2,232
      -472
      3,290
      2,138
      -844
      -1,493
      -1,797
      -935
      744
      -1,895
      2,149
      425
      1,290
      607
      553
      -7,541
      -3,461
      -4,628
      -616
      -61
      153
      5,383
      635
      1,098
      307
      81
      296
      598
      -17
      -548
      -1,918
      -11
      -2,966
      -335
      -54
      -449
      -774
      -807
      -2,794
      -2,462
      599
      1,213
      1,045
      157
      103
      -115
      -824
      365
      -982
      -238
      -1,134
      -757
      -169
      -1,135
       
      276
      111
      -1,855
      -12
      -1,084
      110
      -2,021
      310
      59
      2,128
      -1,371
      -3
      -270
      3,503
      719
      112
      228
      101
      693
      381
      3,207
      499
      810
      68
      567
      -64
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 -96,069
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  
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) 1 306
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........................... 3 306
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- ..... 5 306
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a  
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 306
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 2024 estimated taxright arrow0 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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
 
No
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 arrowND
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 .Click to see attachment
List of Attached Documents:
// Content
8b
 
No
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 2023 or the taxable year beginning in 2023? 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
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 arrow  
14
The books are in care ofright arrowLeo C Parent Scholarship Trust II Telephone no.right arrow (701) 795-3211

Located atright arrow2300 S COLUMBIA RD-ALERUS FINANCIALGRAND FORKSND ZIP+4right arrow58201
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 2023, 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
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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)
 
No
(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
 
 
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
Yes
 
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
 
No
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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Alerus Financial Trustee
1 		12,279    
2300 S Columbia Rd
Grand Forks,ND58201
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 (2023)
Form 990-PF (2023)
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 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 arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
1,557,712
b
Average of monthly cash balances.......................
1b
54,894
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
1,612,606
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
1,612,606
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
24,189
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,588,417
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
79,421
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
79,421
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
306
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
306
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
79,115
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
79,115
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
79,115
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
54,279
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
54,279
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 79,115
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 80,895
b Total for prior years:2021, 20, 20 73,207
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 54,279
a Applied to 2022, but not more than line 2a 54,279
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 2023 distributable amount..... 0
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 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 .......... 		73,207
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 ........... 		73,207
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		26,616
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		79,115
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 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, 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) 2023 (b) 2022 (c) 2021 (d) 2020
         
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:
Alerus Financial - Claire Herland
401 Demers Ave
Grand Forks,ND58201
(701) 795-3325
bThe form in which applications should be submitted and information and materials they should include:
Claire Herland, Alerus Financial
cAny submission deadlines:
Varies
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Scholarships of $1,200 for tuition and books to the University of ND or to any institution of higher learning in MN
Form 990-PF (2023)
Form 990-PF (2023)
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

Minnesota State University

MANKATO 228 WIECKING CENTER
Mankato,MN56001 		NONE PC SCHOLARSHIP 1,200

Alexandria Community College

1601 JEFFERSON STREET
Alexandria,MN56308 		NONE PC SCHOLARSHIP 600

Concordia College

901 8TH ST S
Moorhead,MN56562 		NONE PC SCHOLARSHIP 2,400

Northland Community College

2022 CENTRAL AVENUE NE
East Grand Forks,MN56271 		NONE PC SCHOLARSHIP 5,400

University of Minnesota

200 OAK ST SE
Minneapolis,MN55455 		NONE PC SCHOLARSHIP 8,400

Bemidji State University

1500 BIRCHMONT DR NE
Bemidji,MN56601 		NONE PC SCHOLARSHIP 1,200

St John's University

2850 ABBEY PLAZA
Collegeville,MN56321 		NONE PC SCHOLARSHIP 1,200

University of St Thomas

2115 SUMMIT AVE
St Paul,MN55105 		NONE PC SCHOLARSHIP 1,200

Northwest Technical College

905 GRANT AVE SE
Bemidji,MN56601 		NONE PC SCHOLARSHIP 1,200

UNIVERSITY OF NORTH DAKOTA

TWAMLEY HALL ROOM 216
GRAND FORKS,ND58202 		NONE PC SCHOLARSHIP 19,200
Total .................................right arrow 3a 42,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 38,527  
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 -96,069  
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) ..   -57,063  
13Total. Add line 12, columns (b), (d), and (e)..................
13
-57,063
(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 (2023)
Form 990-PF (2023)
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 (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AUDIT & ACCOUNTING FEES (ALLOC 582 582    

TY 2023 ExplnOfNonFilingWithAGStmt
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Statement:
The North Dakota Attorney General's office has requested to no longer receive a copy of the Form 990-PF

TY 2023 InvestmentsCorpBondsSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Name of Bond End of Year Book Value End of Year Fair Market Value
CTF-B    

TY 2023 InvestmentsCorpStockSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Name of Stock End of Year Book Value End of Year Fair Market Value
US EQUITY    
COMMON TRUST FUND INTERNATIONA    
MARTIN MARIETTA MATLS IINC    
VULCAN MATERIALS    
LINDE PLC COM    
ADVANCE AUTO PARTS INC    
AMAZON.COM INC    
EXPEDIA INC    
LOWES COMPANIES INC    
NETFLIX INC    
NORDSTROM INC    
SELECT SECTOR SPDR ETF CONSUME    
WYNN RESORTS LTD    
CONSTELLATION BRANDS CLASS A    
HERSHEY FOODS CORPORATION    
SELECT SECTOR SPDR ETF CONSUME    
CHENIERE ENERGY INC COM NEW    
SELECT SECTOR SPDR ETF ENERGY    
TEXAS PACIFIC LAND CORPORATION    
AMERICAN EXPRESS COMPANY    
AMERICAN INTERNATIONAL GROUP    
BANK OF AMERICA CORPORATION    
BLACKSTONE GROUP INC. COM CL A    
HARTFORD FINANCIAL SVCS GROUP    
ISHARES DOW JONES US REAL ESTA    
MARSH & MCLENNAN COS INC    
MID-AMER APT COMMUNITIES INC    
MORGAN STANLEY    
PROLOGIS INC. COM    
S P GLOBAL INC COM    
THE CHARLES SCHWAB CORPORATION    
SELECT SECTOR SPDR ETF FINANCI    
SIMON PROPERTY GROUP INC    
WELLS FARGO & COMPANY    
ABBOTT LABORATORIES    
ALIGN TECHNOLOGY INC    
BOSTON SCIENTIFIC CORP    
DANAHER CORPORATION    
EDWARDS LIFESCIENCES CORP    
IDEXX LABORATORIES    
INTUITIVE SURGICAL INC    
IQVIA HOLDINGS INC    
MOLINA HEALTHCARE INC    
SELECT SECTOR SPDR ETF HEALTH    
THERMO FISHER SCIENTIFIC    
UNITED HEALTH GROUP INC    
ZOETIS INC    
COPART INC    
DEERE & CO    
FORTIVE CORP    
NORFOLK SOUTHN CORP    
SELECT SECTOR SPDR ETF INDL    
BUNGE LTD    
EATON CORP PLC    
COHEN AND STEERS GLOBAL REALTY    
DIMENSIONAL US SMALL CAP VALUE    
FIDELITY ADVISOR SMALL CAP GRO    
SPDR TR UNIT SER 1    
ACTIVISION BLIZZARD INC    
ALPHABET INC CLASS A    
ELECTRONIC ARTS INC DEL    
ISHARES    
LAM RESEARCH CORP    
MASTERCARD CORP    
SALESFORCE.COM INC    
SELECT SECTOR SPDR ETF TECHNOL    
TAKE-2 INTERACTIVE SOFTWARE    
VISA INC    
WESTERN DIGITAL CORPORATION DE    
BALL CORP    
CELANESE CORP    
CARVANA CO CL A    
ANHEUSER BUSCH INBEV    
COSTCO CORP    
ASSURANT INC    
CHUBB LTD    
ANTHEM INC COM    
ILLUMINA INC    
JOHNSON AND JOHNSON    
NORTHRUP GRUMMAN CORP    
ATLASSIAN CORPORATION CL A    
COUPA SOFTWARE INCORPORATED CO    
HUBSPOT INC COM    
OKTA INCORPORATION CL A    
SNAP INC CL A    
SNOWFLAKE INC CL A    
SELECT SECTOR SPDR ETF UTILITI    

TY 2023 OtherDecreasesSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Description Amount
CTF BOOK VALUE ADJUSTMENT 594
PAYMENT IN 2023 FOR 2022 212
2023 INCOME RECEIVED IN 2024 740


TY 2023 OtherExpensesSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED 3,177 3,177   0


TY 2023 OtherIncomeSchedule2
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER REVENUE 479 479  


TY 2023 TaxesSchedule
Name:
LEO C PARENT CHARITABLE SCHOLARSHIP TRUST II
EIN:
26-6312571
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 3 3   0
FEDERAL TAX PAYMENT - PRIOR YE 219 0   0
FOREIGN TAXES ON QUALIFIED FOR 407 407   0
FOREIGN TAXES ON NONQUALIFIED 156 156   0