TY 2023 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)	20,156
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	197,013	197,013	197,013
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		45,460
b	Gross sales price for all assets on line 6a 2,406,682
7	Capital gain net income (from Part IV, line 2)...		45,460
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........	262,629	242,473	197,013
	13	Compensation of officers, directors, trustees, etc.	111,669			111,669
14	Other employee salaries and wages......	8,466			8,466
15	Pension plans, employee benefits.......	12,757			12,757
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	75	38		37
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	59,044	33,927		25,117
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	5,439
19	Depreciation (attach schedule) and depletion...	List of Attached Documents: // Content	507
20	Occupancy..............	8,057			8,057
21	Travel, conferences, and meetings.......	46			46
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	158,630			158,630
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	364,690	33,965		324,779
25	Contributions, gifts, grants paid.......	563,300			563,300
26	Total expenses and disbursements. Add lines 24 and 25	927,990	33,965		888,079
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-665,361
b	Net investment income (if negative, enter -0-)		208,508
c	Adjusted net income (if negative, enter -0-)...			197,013

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.............	14,734	23,648	23,648
	2	Savings and temporary cash investments.........
	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..........	2,669	1,365	1,365
	10a	Investments—U.S. and state government obligations (attach schedule)	1,935,448	List of Attached Documents: // Content 1,402,906	1,402,906
	b	Investments—corporate stock (attach schedule).......	3,199,417	List of Attached Documents: // Content 3,753,083	3,753,083
	c	Investments—corporate bonds (attach schedule).......	1,794,560	List of Attached Documents: // Content 1,882,749	1,882,749
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	393,992	List of Attached Documents: // Content 286,610	286,610
	14	Land, buildings, and equipment: basis 10,087
		Less: accumulated depreciation (attach schedule) 10,087	507
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	7,341,327	7,350,361	7,350,361
	17	Accounts payable and accrued expenses..........	13,508	9,876
	18	Grants payable.................	25,000	65,017
	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).........	38,508	74,893
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	7,237,011	7,201,243
	25	Net assets with donor restrictions............	65,808	74,225
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	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).....	7,302,819	7,275,468
	30	Total liabilities and net assets/fund balances (see instructions).	7,341,327	7,350,361

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

7,302,819

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

-665,361

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

List of Attached Documents:

// Content

638,010

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

7,275,468

Decreases not included in line 2 (itemize) right arrow

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

7,275,468

(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	PUBLICALLY TRADED SECURITIES	P
b
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	2,355,133	2,361,222	-6,089
b
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			-6,089
b
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	45,460
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

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	2,898
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
3	Add lines 1 and 2...........................	3	2,898
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	2,898
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	8,000
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	8,000
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
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	5,102
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax0	Refunded	11	5,102

(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
BARBARA CASKEY	SECRETARY 1.40	1,500	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
BETH ELSTAD	VICE CHAIR 1.40	1,500	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
DIANE HOLIDAY-WELSH	CHAIR 1.40	1,500	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
THOMAS HYSTEAD	DIRECTOR 1.30	750	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
GREG RUBERG	DIRECTOR 1.30	1,000	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
DIANNE WITTEN	DIRECTOR 1.30	1,000	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
GREGORY KVAM	CHIEF FINANC 1.40	1,000	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
GARY OLSON	DIRECTOR 1.30	750	0	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802
KATHY MCNAMARA-HEIMBACH	EXECUTIVE DI 40.00	102,669	3,000	0
130 WEST SUPERIOR STREET NO 700 DULUTH,MN55802

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	THE VICTORY CHORUS THE VICTORY CHORUS SUPPORTS THE INITIATIVE OF BECOMING A DEMENTIA FRIENDLY COMMUNITY. THE CHORUS OFFERS THE RESIDENTS OF DULUTH WHO HAVE BEEN AFFECTED BY DEMENTIA WITH A UNIQUE OPPORTUNITY TO BUILD CONNECTIONS, SEEK JOY AND MEANINGFUL ENGAGEMENT IN THEIR COMMUNITY THROUGH SONG. THE CHORUS PROVIDES A VENUE FOR CAREGIVERS AND PERSONS WITH DEMENTIA AN OPPORTUNITY TO HAVE A SHARED EXPERIENCE WHICH PROMOTES THEIR STRENGTHS AND ABILITIES DESPITE DISEASE. THROUGH PARTICIPATION IN REHEARSALS AND PUBLIC PERFORMANCE, THE CHORUS PROMOTES SELF-DISCOVERY, LEARNING, LAUGHTER AND A SENSE OF INCLUSION.	118,331
2	DEMENTIA FRIENDLY DULUTH (DFD) OUR GOAL IS TO MAKE THE COMMUNITY MORE AWARE, INFORMED, SENSITIVE AND SUPPORTIVE OF PEOPLE EXPERIENCING AND CARING FOR THOSE WITH ALZHEIMER'S AND OTHER FORMS OF DEMENTIA. OUR OBJECTIVE IS TO IMPROVE AWARENESS OF THE RESOURCES AND ORGANIZATIONS AVAILABLE TO SUPPORT PEOPLE WITH DEMENTIA AND THEIR FAMILIES AND INCREASE KNOWLEDGE OF DEMENTIA ACROSS THE COMMUNITY. DFD ESTABLISHED AND FACILITATES DEMENTIA COLLABORATIVE MEETINGS AND ACTIVITIES. THE COLLABORATION WAS FORMED AS A PROGRAM OF DFD FOR THE PURPORSE OF NETWORKING, SHARING, IDEA GENERATING, AND GROUP ACTIONS ACROSS COMMUNITY. CURRENT PRIORITY AREAS - DEMENTIA CHORUS SIMILAR TO THE GIVING VOICE CHORUS, DEMENTIA FRIENDS TRAINING ACROSS THE COMMUNITY, YOUTH OUTREACH, TRAINING FOR RESTAURANT WAIT STAFF, SUPPORT RESPITE CARE PROGRAMS AND IDENTIFY GAPS IN DEMENTIA SERVICES ACROSS NORTHEASTERN MINNNESOTA.	17,494
3


4

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	N/A
2


All other program-related investments. See instructions.
3

		(a) Corpus	(d) 2023
1 Distributable amount for 2023 from Part X, line 7			358,684
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2022:
a From 2018......	33,208
b From 2019......	161,159
c From 2020......	157,977
d From 2021......	137,937
e From 2022......	694,008
f Total of lines 3a through e ........		1,184,289
4Qualifying distributions for 2023 from Part
XI, line 4: $ 888,079
a Applied to 2022, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2023 distributable amount.....			358,684
e Remaining amount distributed out of corpus		529,395
5 Excess distributions carryover applied to 2023.
(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		1,713,684
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........			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) .......
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		33,208
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		1,680,476
10 Analysis of line 9:
a Excess from 2019....	161,159
b Excess from 2020....	157,977
c Excess from 2021....	137,937
d Excess from 2022....	694,008
e Excess from 2023....	529,395

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	(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

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

KATHY HEIMBACH
130 WEST SUPERIOR STREET
SUITE 700
DULUTH,MN55802
(218) 727-9872
KHEIMBACH@THEVICTORYFUND.ORG

bThe form in which applications should be submitted and information and materials they should include:

THE FOUNDER'S FUND SCHOLARSHIP THE FOUNDERS' FUND SCHOLARSHIP IS AWARDED TO HELP FINANCE THE COST OF HIGHER EDUCATION OR CONTINUING EDUCATION FOR STUDIES IN THE HEALTH CARE FIELD. ONE THOUSAND DOLLARS (1,000) WILL BE AWARDED TO EACH RECIPIENT, TO BE PAID OUT IN FIVE HUNDRED DOLLAR (500) INSTALLMENTS FOR EACH OF TWO YEARS. A RECIPIENT MAY RE-APPLY FOR AN ADDITIONAL TWO YEARS OF AWARDS AT THE END OF THE FIRST SCHOLARSHIP. INDIVIDUALS MAY APPLY FOR THE SCHOLARSHIP ONLINE AT WWW.THEVICTORYFUND.ORG OR THE APPLICATION MAY BE DOWNLOADED AND SUBMITTED VIA MAIL TO: THE VICTORY FUND KATHY HEIMBACH, EXECUTIVE DIRECTOR 130 WEST SUPERIOR STREET, SUITE 700

cAny submission deadlines:

APRIL 15, EACH YEAR

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

ELIGIBILITY REQUIREMENTS: - APPLICANTS MUST BE ACCEPTED TO AN ACCREDITED SCHOOL OF HIGHER EDUCATION WHICH OFFERS AN ASSOCIATE OF SCIENCE OR ARTS DEGREE (OR HIGHER) IN A HEALTHCARE FIELD AS STATED BELOW. - APPLICANTS MUST PURSUE STUDIES IN MEDICINE, NURSING, HEALTHCARE ADMINISTRATION, PHARMACY STUDIES, MEDICAL TECHONOLOGY, MEDICAL RECORDS, X-RAY TECHNOLOGY, DENTISTRY, DENTAL HYGIENE, OCCUPATIONAL HEALTH, OCCUPATIONAL THERAPY, SPEECH THERAPY, PHYSICAL THERAPY, RESPIRATORY THERAPY, MEDICAL SOCIAL WORK,PSYCHOLOGY, OR PARAMEDIC. - APPLICANTS MUST BE A GRADUATE OF LAKE SUPERIOR SCHOOL DISTRICT OR RESIDENT OF LAKE COUNTY MINNESOTA.

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
FIRST WITNESS 1402 E 2ND STREET DULUTH,MN55805	N/A		EFFECTIVE ADVOCACY PROGRAM	50,000
DAMIANO CENTER 206 WEST 4TH STREET 201 DULUTH,MN55806	N/A		HEALTH REALIZATION PROGRAM	15,000
HARM REDUCTION SISTERS 306 WEST 4TH STREET 216 DULUTH,MN55806			MOBILE HOME REDUCITON PROGRAM	100,000
RECOVERY ALLIANCE 206 WEST 4TH STREET 202 DULUTH,MN55806			SUPPORT INTERNAL OPERATIONS	175,000
AGE WELL ARROWHEAD 306 W SUPERIOR STREET DULUTH,MN55802			IN-HOME RESPITE	50,000
NORTHWOODS PARTNERS 328 W CONAN STREET ELY,MN55731			INCREASE AWARENESS TO CAREGIVERS	15,000
LIFE HOUSE 102 W 1ST STREET DULUTH,MN55802			ENHANCE CLINICAL SOCIAL PROGRAMS	45,000
SURC 100 N 5TH AVE W ROOM 320 DULUTH,MN55802			SUPPORT OPERATIONAL COSTS	100,000
MAHTAHN JENKINS 113 SUMMIT STREET 304 DULUTH,MN55803		I	SCHOLARSHIP	500
ISABELLE TOKVAN 422 16TH AVENUE TWO HARBORS,MN55616			SCHOLARSHIP	1,000
Total ................................. 3a				551,500

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

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 ...........
4 Dividends and interest from securities ....			14	197,013
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	45,460
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) ..				242,473

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

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.

Name of organization FIRST COMMUNITY HEALTH FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	MILLER-DWAN FOUNDATION 502 E 2ND STREET DULUTH, MN55805	$ 15,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)


(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...................

bApproved for future payment

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

Name of organization FIRST COMMUNITY HEALTH FOUNDATION		Employer identification number 41-0635532

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2023)


Name of organization FIRST COMMUNITY HEALTH FOUNDATION			Employer identification number 41-0635532
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Name of Bond	End of Year Book Value	End of Year Fair Market Value
DODGE & COX INCOME FUND	270,662	270,662
DODGE & COX INCOME FUND	7,565	7,565
FEDERATED HERMES INST. HY BOND FUND	168,215	168,215
US BANK NA CINCINNATI SR
VANGUARD GNMA FUND - ADM.	3,380	3,380
VANGUARD GNMA FUND - ADM.	209,487	209,487
VANGUARD HY CORPORATE FUND - ADM.	3,382	3,382
VANGUARD HY CORPORATE FUND - ADM.	191,825	191,825
VANGUARD ST CORPORATE - ADM.	3,334	3,334
VANGUARD ST CORPORATE - ADM.	150,071	150,071
VANGUARD ST INFLATION - ADM.	216,741	216,741
VANGUARD ST INFLATION - ADM.	1,630	1,630
VANGUARD ST TREASURY FUND - ADM.	152,407	152,407
VANGUARD ST TREASURY FUND - ADM.	3,290	3,290
VANGUARD TOTAL BOND MARKET - ADM.	263,617	263,617
VANGUARD TOTAL BOND MARKET - ADM.	7,603	7,603
APPLE INC SR NTS 2.9% DUE 9/12/27	47,897	47,897
BRISTOL-MEYERS SQUIBB CO 3.4%	47,265	47,265
HONEYWELL INTER. SR 1.95%	43,394	43,394
INTEL CORP SR 2.45%	45,014	45,014
NIKE INV SR NTS 2.85%	45,970	45,970

Name of Stock	End of Year Book Value	End of Year Fair Market Value
DODGE & COX INTERNATIONAL STOCK	664	664
DODGE & COX INTERNATIONAL STOCK	64,044	64,044
FIDELITY LARGE CAP GROWTH INDEX FUND	3,931	3,931
FIDELITY LARGE CAP GROWTH INDEX FUND	370,338	370,338
FIDELITY CONTRAFUND	3,763	3,763
FIDELITY CONTRAFUND	360,729	360,729
FIDELITY DIVERSIFIED INTER. FUND	660	660
FIDELITY DIVERSIFIED INTER. FUND	62,818	62,818
MAIRS & POWER GROWTH FUND	373,786	373,786
MAIRS & POWER GROWTH FUND	3,827	3,827
T. ROWE PRICE DIVIDEND GROWTH FUND	3,753	3,753
T. ROWE PRICE DIVIDEND GROWTH FUND	379,846	379,846
T. ROWE PRICE GROWTH STOCK FUND
T. ROWE PRICE GROWTH STOCK FUND
VANGUARD 500 INDEX FUND - ADMIRAL	7,632	7,632
VANGUARD 500 INDEX FUND - ADMIRAL	756,635	756,635
VANGUARD EMERGING MARKETS STOCK	33,958	33,958
VANGUARD EMERGING MARKETS STOCK	339	339
VANGUARD EQUITY INCOME FUND - ADM.	396,239	396,239
VANGUARD EQUITY INCOME FUND - ADM.	3,582	3,582
VANGUARD MID CAP INDEX FUND - ADM.	246,544	246,544
VANGUARD MID CAP INDEX FUND - ADM.	2,501	2,501
VANGUARD REAL ESTATE INDEX - ADM.	1,031	1,031
VANGUARD REAL ESTATE INDEX - ADM.	101,112	101,112
VANGUARD SMALL-CAP GROWTH - ADM.	36,048	36,048
VANGUARD SMALL-CAP GROWTH - ADM.	383	383
VANGUARD SMALL CAP INDEX - ADM.	99,102	99,102
VANGUARD SMALL CAP INDEX - ADM.	968	968
VANGUARD TOTAL INTER. STOCK - ADM.	906	906
VANGUARD TOTAL INTER. STOCK - ADM.	84,748	84,748
VANGUARD VALUE INDEX - ADM.	349,412	349,412
VANGUARD VALUE INDEX - ADM.	3,784	3,784

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ACCRUED INTEREST RECEIVABLE	FMV	22,606	22,606
ACCRUED RESTRICTED INVESTMENT	FMV	73	73
FEDERATED HERMES GOVT
OBLIGATIONS FUND - PREMIER SHARES	FMV	1,778	1,778
FEDERATED HERMES GOVT
OBLIGATIONS FUND - PREMIER SHARES	FMV	262,153	262,153

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
EXPENSES
OFFICE EXPENSES	1,126	1,126
INFORMATION TECHNOLOGY
INSURANCE	2,485	2,485
MISCELLANEOUS	8,187	8,187
DEMENTIA FRIENDLY DULUTH
PROGRAM EXPENSES	17,494	17,494
VICTORY CHORUS PROGRAM
EXPENSES	118,331	118,331
BOARD EXPENSES	11,007	11,007

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	33,927	33,927
OTHER FEES	25,117			25,117

Software ID:
Software Version: