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
THE MARK E AND MARY A DAVIS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)805 ENTERPRISE DRIVE EAST
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BELLE PLAINE, MN56011
A Employer identification number

32-6369521
B Telephone number (see instructions)

(952) 873-4821
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$31,580,832J 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 104 104  
4 Dividends and interest from securities... 547,579 531,677  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 166,627
b Gross sales price for all assets on line 6a 1,605,382
7 Capital gain net income (from Part IV, line 2)... 166,627
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........ 714,310 698,408  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,300 2,650   2,650
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
19,315 19,315   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
36,142 13,142   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25 0   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 60,782 35,107   2,675
25 Contributions, gifts, grants paid....... 958,700 958,700
26 Total expenses and disbursements. Add lines 24 and 25 1,019,482 35,107   961,375
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -305,172
b Net investment income (if negative, enter -0-) 663,301
c Adjusted net income (if negative, enter -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............. 157,483 235,022 235,022
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 19,010,889 Click to see attachment
List of Attached Documents:
// Content
23,548,361 		23,548,361
c Investments—corporate bonds (attach schedule)....... 1,954,969 Click to see attachment
List of Attached Documents:
// Content
2,064,664 		2,064,664
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).......... 4,962,614 Click to see attachment
List of Attached Documents:
// Content
5,732,785 		5,732,785
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) 26,085,955 31,580,832 31,580,832
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 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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 26,085,955 31,580,832
29 Total net assets or fund balances (see instructions)..... 26,085,955 31,580,832
30 Total liabilities and net assets/fund balances (see instructions). 26,085,955 31,580,832
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
26,085,955
2
Enter amount from Part I, line 27a .....................
2
-305,172
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
5,800,049
4
Add lines 1, 2, and 3 ..........................
4
31,580,832
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
31,580,832
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 PUBLICLY TRADED SECURITIES P    
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,484,619   1,438,755 45,864
b 120,763     120,763
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       45,864
b       120,763
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 166,627
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 9,220
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 9,220
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 9,220
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 32,800
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 30,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 62,800
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 53,580
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow53,580 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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
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
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrowN/A
14
The books are in care ofright arrowJAMES WARD Telephone no.right arrow (952) 873-4821

Located atright arrow805 ENTERPRISE DRIVE EAST SUITE HBELLE PLAINEMN ZIP+4right arrow56011
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
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 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)
Yes
 
(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
 
No
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
MARK E DAVIS TRUSTEE
1.00 		0 0 0
PO BOX 558
ST PETER,MN56082
MARY A DAVIS TRUSTEE
1.00 		0 0 0
PO BOX 558
ST PETER,MN56082
JAMES T WARD TREASURER
1.00 		0 0 0
PO BOX 558
ST PETER,MN56082
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 arrow0
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
28,190,666
b
Average of monthly cash balances.......................
1b
304,450
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
28,495,116
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
28,495,116
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
427,427
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
28,067,689
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,403,384
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,403,384
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
9,220
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,220
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,394,164
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,394,164
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,394,164
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
961,375
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
961,375
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 1,394,164
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 495,474
b From 2019...... 40,190
c From 2020......  
d From 2021...... 622,420
e From 2022...... 1,982,850
f Total of lines 3a through e ........ 3,140,934
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 961,375
a Applied to 2022, 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 2023 distributable amount..... 961,375
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 432,789 432,789
(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 2,708,145
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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
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) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		62,685
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		2,645,460
10 Analysis of line 9:
a Excess from 2019.... 40,190
b Excess from 2020....  
c Excess from 2021.... 622,420
d Excess from 2022.... 1,982,850
e Excess from 2023....  
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).)
MARK E DAVIS
MARY A DAVIS
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 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 (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

ALZHEIMER'S DISEASE RESEARCH (BRIGHTFOCUS FOUNDATION)

22512 GATEWAY CENTER DRIVE
CLARKSBURG,MD208711950 		NONE PC GENERAL SUPPORT 500

AMERICAN DIABETES ASSOCIATION

PO BOX 7023
MERRIFIELD,VA221167023 		NONE PC GENERAL SUPPORT 500

AMERICAN EXPERIMENT

8421 WAYZATA BOULEVARD SUITE 110
GOLDEN VALLEY,MN55426 		NONE PC GENERAL SUPPORT 25,000

AMERICAN PARKINSON DISEASE ASSOCIATION

PO BOX 97216
WASHINGTON,DC200907216 		NONE PC GENERAL SUPPORT 500

ARMY HISTORICAL FOUNDATION

PO BOX 96281
WASHINGTON,DC200906281 		NONE PC GENERAL SUPPORT 500

BLUE EARTH COUNTY HISTORICAL SOCIETY

424 WARREN STREET
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 500

BOLDER OPTIONS

2100 STEVENS AVENUE SOUTH
MINNEAPOLIS,MN55404 		NONE PC GENERAL SUPPORT 5,000

CARING BRIDGE

PO BOX 6032
ALBERT LEA,MN560079854 		NONE PC GENERAL SUPPORT 500

CATO INSTITUTE

1000 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20001 		NONE PC GENERAL SUPPORT 15,000

CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA

224 LAMM STREET
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 2,500

CHOLANGIOCARCINOMA FOUNDATION

5526 WEST 13400 SOUTH
HERRIMAN,UT84096 		NONE PC GENERAL SUPPORT 500

CHURCH OF SAINT PETER

1801 BROADWAY AVE
SAINT PETER,MN56082 		NONE PC GENERAL SUPPORT 15,000

CHURCH OF THE HOLY COMMUNION

118 N MINNESOTA AVE
ST PETER,MN56082 		NONE PC GENERAL SUPPORT 15,000

CITIZENS' COUNCIL FOR HEALTH FREEDOM

161 ST ANTHONY AVENUE
SAINT PAUL,MN55103 		NONE PC GENERAL SUPPORT 500

CO2 COALITION

1621 NORTH KENT ST 603
ARLINGTON,VA22209 		NONE PC GENERAL SUPPORT 500

COMMITTEE FOR A CONSTRUCTIVE TOMORROW

PO BOX 32
BERRYVILLE,VA226119800 		NONE PC GENERAL SUPPORT 1,500

COMPETITIVE ENTERPRISE INSTITUTE

PO BOX 96640
WASHINGTON,DC200906640 		NONE PC GENERAL SUPPORT 1,500

DAILY CALLER NEWS FOUNDATION

1775 EYE STREET NW
WASHINGTON,DC20006 		NONE PC GENERAL SUPPORT 500

DELTA WATERFOWL FOUNDATION

1412 BASIN AVENUE
BISMARCK,ND58502 		NONE PC GENERAL SUPPORT 500

DISABLED VETERANS NATIONAL FOUNDATION

BOX 2005
MILFORD,NH030552005 		NONE PC GENERAL SUPPORT 250

DUCKS UNLIMITED

PO BOX 98112
WASHINGTON,DC200908112 		NONE PC GENERAL SUPPORT 250

EISENHOWER FOUNDATION

PO BOX 295
ABILENE,KS67410 		NONE PC GENERAL SUPPORT 500

EPISCOPAL HOMES FOUNDATION

490 E LYNNHURST AVENUE
SAINT PAUL,MN55104 		NONE PC GENERAL SUPPORT 500

FEDERATED FOUNDATION

121 EAST PARK SQUARE
OWATONNA,MN55060 		NONE PC GENERAL SUPPORT 50,000

FREEDOM FOUNDATION OF MINNESOTA

825 NICOLLET MALL
MINNEAPOLIS,MN55402 		NONE PC GENERAL SUPPORT 1,500

FRIENDS OF THE SMITHSONIAN

PO BOX 98096
WASHINGTON,DC200908096 		NONE PC GENERAL SUPPORT 500

GEORGE MASON UNIVERSITY FOUNDATION

PO BOX 358136
PITTSBURGH,PA152515136 		NONE PC GENERAL SUPPORT 250

GEORGE W BUSH FOUNDATION

PO BOX 14141
COLLEGE STATION,TX778414141 		NONE PC GENERAL SUPPORT 50,000

GEORGE WASHINGTON'S MOUNT VERNON

PO BOX 1594
MERRIFIELD,VA221161594 		NONE PC GENERAL SUPPORT 250

GLOBAL NETWORK FOUNDATION

715 PEACHTREE STREET NE
ATLANTA,GA30308 		NONE PC GENERAL SUPPORT 2,500

GREATER MANKATO AREA UNITED WAY

127 SOUTH SECOND STREET
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 500

GUSTAVUS - REN ANDERSON FUND

800 WEST COLLEGE AVENUE
SAINT PETER,MN560821498 		NONE PC GENERAL SUPPORT 1,000

HABITAT FOR HUMANITY

1730 BASSETT DRIVE
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 1,000

HARRY S TRUMAN LIBRARY INSTITUTE

PO BOX 1891
MERRIFIELD,VA221168091 		NONE PC GENERAL SUPPORT 250

HILLSDALE COLLEGE

PO BOX 96607
WASHINGTON,DC200777544 		NONE PC GENERAL SUPPORT 5,000

HOLY FAMILY

5900 WEST LAKE STREET
ST LOUIS PARK,MN55416 		  PC GENERAL SUPPORT 5,000

HORATIO ALGER ASSOCIATION

99 CANAL CENTER PLZ
ALEXANDRIA,VA22314 		NONE PC GENERAL SUPPORT 50,000

JOHN IRELAND SCHOOL

1801 WEST BROADWAY AVENUE
SAINT PETER,MN56082 		NONE PC GENERAL SUPPORT 5,000

JON DENZER BEAR HUG FOUNDATION

3538 WESTBROOK ROAD
CHILLICOTHE,IL61523 		NONE PC GENERAL SUPPORT 2,500

JUDICIAL WATCH

PO BOX 96234
WASHINGTON,DC200777480 		NONE PC GENERAL SUPPORT 1,000

JUNIOR ACHIEVEMENT OF THE UPPER MIDWEST

PO BOX 153
MADISON LAKE,MN56063 		NONE PC GENERAL SUPPORT 60,000

KNIGHTS TEMPLAR EYE FOUNDATION INC

PO BOX 271118
FLOWER MOUND,TX750271118 		NONE PC GENERAL SUPPORT 500

LEADERSHIP INSTITUTE

STEVEN PJ WOOD BUILDING
ARLINGTON,VA22201 		NONE PC GENERAL SUPPORT 500

MANKATO AREA FOUNDATION

212 E WALNUT STREET
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 500

MAYO

200 FIRST STREET SW
ROCHESTER,MN55905 		NONE PC GENERAL SUPPORT 400,000

MEDIA RESEARCH CENTER

1900 CAMPUS COMMONS DRIVE
RESTON,VA20191 		NONE PC GENERAL SUPPORT 1,000

MINNDEPENDENT

5200 WILLSON ROAD SUITE 310
EDINA,MN55424 		NONE PC GENERAL SUPPORT 1,500

MINNESOTA 4-H (UNIVERSITY OF MINNESOTA FOUNDATION)

PO BOX 860266
MINNEAPOLIS,MN554860266 		NONE PC GENERAL SUPPORT 2,000

MINNESOTA AGRICULTURE IN THE CLASSROOM

PO BOX 987
BEMIDJI,MN56619 		NONE PC GENERAL SUPPORT 500

MINNESOTA FARM BUREAU FOUNDATION

PO BOX 64370
SAINT PAUL,MN55164 		NONE PC GENERAL SUPPORT 250

MINNESOTA FFA FOUNDATION

PO BOX 365
PLAINVIEW,MN55964 		NONE PC GENERAL SUPPORT 1,000

MINNESOTA HISTORICAL SOCIETY (NORTH STAR CIRCLE MEMBERSHIP)

345 KELLOGG BOULEVARD WEST
SAINT PAUL,MN55102 		NONE PC GENERAL SUPPORT 25,000

MINNESOTA MASONIC CHARITIES

11501 MASONIC HOME DRIVE
MINNEAPOLIS,MN554373604 		NONE PC GENERAL SUPPORT 1,500

MINNESOTA SHERIFFS' ASSOCIATION

PO BOX 17005
SAINT PAUL,MN551179928 		NONE PC GENERAL SUPPORT 250

MINNESOTA SPECIAL OLYMPICS

PO BOX 626
ALBERT LEA,MN560070626 		NONE PC GENERAL SUPPORT 500

MINNESOTA STATE FAIR FOUNDATION

1265 SNELLING AVENUE N
SAINT PAUL,MN55108 		NONE PC GENERAL SUPPORT 7,500

MINNESOTA STATE UNIVERSITY MANKATO COLLEGE OF BUSINESS

120 MORRIS HALL
MANKATO,MN56001 		NONE PC GENERAL SUPPORT 25,000

MINNESOTA VOTERS ALLIANCE

PO BOX 4602
SAINT PAUL,MN55104 		NONE PC GENERAL SUPPORT 1,000

MINNESOTA WELSH ASSOCIATION

PO BOX 267
LAKE CRYSTAL,MN56055 		NONE PC GENERAL SUPPORT 1,000

MINNESOTANS' MILITARY APPRECIATION FUND

PO BOX 2070
MINNEAPOLIS,MN55402 		NONE PC GENERAL SUPPORT 25,000

MN LANDSCAPE ARBORETUM FOUNDATION

PO BOX 860082
MINNEAPOLIS,MN554860082 		NONE PC GENERAL SUPPORT 1,000

MULTIPLE SCLEROSIS ASSOCIATION OF AMERICA

375 KINGS HIGHWAY NORTH
CHERRY HILL,NJ08034 		NONE PC GENERAL SUPPORT 250

MUSCULAR DYSTROPHY ASSOCIATION

PO BOX 97075
WASHINGTON,DC200907075 		NONE PC GENERAL SUPPORT 250

NATIONAL D-DAY MEMORIAL FOUNDATION

PO BOX 77
BEDFORD,VA24523 		NONE PC GENERAL SUPPORT 500

NATIONAL LAW ENFORCEMENT OFFICERS MEMORIAL FUND

PO BOX 97072
WASHINGTON,DC200907072 		NONE PC GENERAL SUPPORT 250

NATIONAL REVIEW INSTITUTE

19 W 44TH STREET
NEW YORK,NY101091677 		NONE PC GENERAL SUPPORT 25,000

NATIONAL RIGHT TO WORK LEGAL DEFENSE FOUNDATION

8001 BRADDOCK ROAD
SPRINGFIELD,VA221519988 		NONE PC GENERAL SUPPORT 1,500

NATIONAL TAXPAYERS UNION

122 C STREET
WASHINGTON,DC20001 		NONE PC GENERAL SUPPORT 500

NATIONAL WORLD WAR II MUSEUM

PO BOX 758590
TOPEKA,KS666758590 		NONE PC GENERAL SUPPORT 250

NEY NATURE CENTER - A LE SUEUR COUNTY PARK

PO BOX 93
HENDERSON,MN560440093 		NONE PC GENERAL SUPPORT 1,000

NICOLLET COUNTY HISTORICAL SOCIETY

1851 NORTH MINNESOTA AVENUE
SAINT PETER,MN56082 		NONE PC GENERAL SUPPORT 15,000

NORTHERN STAR SCOUTING

6202 BLOOMINGTON ROAD
FORT SNELLING,MN55111 		NONE PC GENERAL SUPPORT 2,000

PHEASANTS FOREVER

1783 BUERKLE CIRCLE
SAINT PAUL,MN55110 		NONE PC GENERAL SUPPORT 250

PROJECT VERITAS

PO BOX 8933
TOPEKA,KS666089974 		NONE PC GENERAL SUPPORT 1,000

SAINT ANNE'S SCHOOL

PO BOX 162
LE SUEUR,MN56058 		NONE PC GENERAL SUPPORT 5,000

SCIENCE MUSEUM OF MINNESOTA

120 WEST KELLOGG BOULEVARD
SAINT PAUL,MN55102 		NONE PC GENERAL SUPPORT 2,500

SDSU

MORRILL HALL ROOM 136
BROOKINGS,SD57007 		NONE GOV STUDENT SCHOLARSHIP 10,000

SECOND HARVEST HEARTLAND

7101 WINNETKA AVENUE
BROOKLYN PARK,MN55428 		NONE PC GENERAL SUPPORT 500

SHRINERS HEALTHCARE HOSPITAL FOR CHILDREN

215 RADIO DRIVE
WOODBURY,MN55125 		NONE PC GENERAL SUPPORT 15,000

SMILE NETWORK INTERNATIONAL

108 W 14TH STREET
MINNEAPOLIS,MN55403 		NONE PC GENERAL SUPPORT 1,500

SMITHSONIAN - NATIONAL AIR AND SPACE MUSEUM

PO BOX 98091
WASHINGTON,DC200908091 		NONE PC GENERAL SUPPORT 500

SMITHSONIAN - NATIONAL MUSEUM OF AFRICAN AMERICAN HISTORY AND CULTURE

PO BOX 98097
WASHINGTON,DC200908097 		NONE PC GENERAL SUPPORT 500

SOUTHERN MINNESOTA INITIATIVE FOUNDATION

PO BOX 695
OWATONNA,MN55060 		NONE PC GENERAL SUPPORT 20,000

ST JUDE CHILDREN'S RESEARCH HOSPITAL

PO BOX 1893
MEMPHIS,TN381019950 		NONE PC GENERAL SUPPORT 15,000

ST PETER - KASOTA DOLLARS FOR SCHOLARS

PO BOX 233
SAINT PETER,MN56082 		NONE PC GENERAL SUPPORT 500

STATE POLICY NETWORK

PO BOX 98272
WASHINGTON,DC200908272 		NONE PC GENERAL SUPPORT 1,500

TAX FOUNDATION

1325 G STREET NW
WASHINGTON,DC200778403 		NONE PC GENERAL SUPPORT 500

THE CHARLEMAGNE INSTITUTE

8011 34TH AVENUE S
BLOOMINGTON,MN55425 		NONE PC GENERAL SUPPORT 2,500

THE CLAREMONT INSTITUTE

1317 W FOOTHILL BOULEVARD
UPLAND,CA91786 		NONE PC GENERAL SUPPORT 2,000

THE HERITAGE FOUNDATION

PO BOX 97057
WASHINGTON,DC200907057 		NONE PC GENERAL SUPPORT 1,000

THE RICHARD NIXON FOUNDATION

18001 YORBA LINDA BOULEVARD
YORBA LINDA,CA928863949 		NONE PC GENERAL SUPPORT 350

THE RONALD REAGAN PRESIDENTIAL FOUNDATION

PO BOX 98148
WASHINGTON,DC200908148 		NONE PC GENERAL SUPPORT 350

TUNNEL TO TOWERS FOUNDATION

PO BOX 70719
PHILADELPHIA,PA191760719 		NONE PC GENERAL SUPPORT 2,500

UNCF

PO BOX 55040
BOSTON,MA022059822 		NONE PC GENERAL SUPPORT 3,750

UNION GOSPEL MISSION

PO BOX 64389
SAINT PAUL,MN551640389 		NONE PC GENERAL SUPPORT 500

UNITED STATES HOLOCAUST MEMORIAL MUSEUM

100 RAOUL WALLENBERG PLACE SW
WASHINGTON,DC200242126 		NONE PC GENERAL SUPPORT 500

UPPER MIDWEST LAW CENTER

8421 WAYZATA BOULEVARD
GOLDEN VALLEY,MN55426 		NONE PC GENERAL SUPPORT 5,000

WOUNDED WARRIOR PROJECT

PO BOX 758540
TOPEKA,KS666758540 		NONE PC GENERAL SUPPORT 250
Total .................................right arrow 3a 958,700
bApproved for future payment
Total ................................. right arrow 3b 0
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 ........... 		    14 104  
4 Dividends and interest from securities ....     14 547,579  
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 ............ 		    18 166,627  
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) .. 0 714,310 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
714,310
(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:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 5,300 2,650   2,650

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Name of Bond End of Year Book Value End of Year Fair Market Value
ANGEL OAK DYNAMIC FINANCIAL 3,656 3,656
BLACKROCK CALIFOR MUNI IN TR 6,015 6,015
BLACKROCK CORE BOND TRUST 15,274 15,274
BLACKROCK CREDIT ALLOCATION 120,806 120,806
BLACKROCK ENHANCED GOVT FD 21,990 21,990
BLACKROCK INCOME TRUST 49,524 49,524
BLACKROCK MUNIHOLD CA QLTY 16,695 16,695
BLACKROCK TAXABLE INCOME 63,414 63,414
BLACKSTONE LONG-SHORT CREDIT I 18,320 18,320
BLACKSTONE STRATEGIC CREDIT FU 4,528 4,528
BNYM HIGH YIELD STRAT 5,267 5,267
CREDIT SUISSE HIGH YIELD BD 10,296 10,296
DOUBLELINE OPPORT CREDIT 66,005 66,005
DWS MUNICIPAL INCOME TRUST COM 51,562 51,562
EATON VANCE LTD DURATION FD 109,212 109,212
EATON VANCE SHORT DUR DIV IN 26,023 26,023
EATON VANCE MUNICIPAL BOND F 21,273 21,273
EATON VANCE CAL MUNI BOND 5,490 5,490
FIRST TRUST HIGH INCOME LONG 27,236 27,236
FIRST TRUST MORTGAGE INCOME 66,478 66,478
FRANKLIN LIMITED DURATION IN 34,571 34,571
INSIGHT SELECT INCOME FUND 67,553 67,553
INVESCO BOND FD 33,645 33,645
INVESCO HIGH INCOME 2024 TAR 9,646 9,646
INVESCO MUNICIPAL TRUST 24,778 24,778
INVESCO TRUST FOR INVESTMENT 40,549 40,549
INVESCO MUNICIPAL OPPORT 20,181 20,181
INVESCO ADV MUNI INC TR II 19,435 19,435
INVESCO PENNSYLVANIA VALUE M 25,000 25,000
JOHN HANCOCK INCOME SECURITIES TRUST 44,129 44,129
MFS CHARTER INCOME TRUST 21,318 21,318
MFS GOVT MARKETS INC TRUST 26,140 26,140
MFS INTERMEDIATE INC TRUST 95,341 95,341
NEUBERGER BERMAN MUNICIPAL FUND INC 11,437 11,437
NUVEEN QUAL MUNI INC FD 36,640 36,640
NUVEEN ENHANCED AMT-FREE QUALITY 36,300 36,300
NUVEEN GFLOAT RATE INC FD 21,183 21,183
NUVEEN MULTI-MKT INC FD 62,232 62,232
NUVEEN MUNI CREDIT INC FD 30,259 30,259
NUVEEN NJ QUAL MUNI INC FD 27,094 27,094
NUVEEN ENHANCED AMT-FREE MUNICIPAL 43,734 43,734
NUVEEN TAXABLE MUNI INC FD 53,686 53,686
NUVEEN PA QUAL MUNI INC FD 23,160 23,160
NUVEEN PFD AND INC TERM FD 5,484 5,484
NUVEEN PREFERRED INCOME FU 86,041 86,041
NUVEEN VARIABLE RATE PREFERR 26,000 26,000
PGIM GLOBAL HIGH YIELD FUND INC 14,768 14,768
PGIM HIGH YIELD BOND FUND INC 17,248 17,248
PIMCO STRATEGIC INCOME FUND INC 7,296 7,296
PIONEER MUNI HIGH INC OPP 10,570 10,570
PIONEER MUNICIPAL HIGH INCOM 5,614 5,614
PIONEER MUNI HIGH INC TR 11,219 11,219
PUTNAM MASTER INTERMEDIATE INCOME 103,643 103,643
PUTNAM MANAGED MUNI INCM TRS 6,080 6,080
PUTNAM PREMIER INCOME TRUST 104,922 104,922
TCW STRATEGIC INCOME FUND INC 39,474 39,474
VIRTUS GLOBAL MULTI-SECTOR 25,056 25,056
WESTERN ASSET INFLATION-LINKED 13,872 13,872
WESTERN ASSET INFLATION-LINKED 10,836 10,836
WESTERN ASSET INV GRA DEF OP 15,822 15,822
WESTERN ASSET MORTGAGE OPPORTUNITY 13,404 13,404
WESTERN ASSET PREMIER BOND FUND 30,240 30,240

TY 2023 InvestmentsCorpStockSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 426,521 426,521
ACCENTURE PLC-CL A 570,229 570,229
ALLIANZ SE-SPON ADR 213,520 213,520
ALLSPRING INCOME OPP 5,216 5,216
ALPHABET INC/CA-CL A 824,171 824,171
AMERIPRISE FINANCIAL INC 493,779 493,779
ANALOG DEVICES INC 248,200 248,200
APPLE INC 2,380,826 2,380,826
APPLIED MATERIALS INC 567,245 567,245
ARTHUR J GALLAGHER & CO 483,492 483,492
ASTRAZENECA PLC - SPONS ADR 254,246 254,246
BAE SYSTEMS PLC - SPON ADR 498,680 498,680
BHP GROUP LTD - SPON ADR 213,469 213,469
BROADCOM LTD 1,445,544 1,445,544
CHUBB LTD 282,500 282,500
CONOCOPHILLIPS 525,217 525,217
CONSTELLATION BRANDS INC - A 362,625 362,625
DIAGEO PLC - SPONSORED ADR 247,622 247,622
ELI LILLY & CO 4,663 4,663
FEDEX CORP 303,564 303,564
FS CREDIT OPPORTUNITIES CORP 11,340 11,340
GILEAD SCIENCES INC 232,904 232,904
GOLDMAN SACHS GROUP INC 331,762 331,762
HOME DEPOT INC 552,747 552,747
HONEYWELL INTERNATIONAL INC 319,808 319,808
IBERDROLA S A 367,500 367,500
JOHNSON & JOHNSON 548,590 548,590
JP MORGAN CHASE & CO 659,138 659,138
LINDE PLC 308,033 308,033
LOCKHEED MARTIN CORP 362,592 362,592
LOGITECH INTERNATIONAL - REG 209,132 209,132
MCDONALDS CORP 318,748 318,748
MICROSOFT CORP 2,270,530 2,270,530
MONDELEZ INTERNATIONAL INC - A 266,180 266,180
NESTLE S A 364,235 364,235
NEXTERA ENERGY INC 372,033 372,033
NVIDIA CORP 1,444,557 1,444,557
PEPSICO INC 551,980 551,980
RELX NV 328,187 328,187
ROCKWELL AUTOMATION INC 279,432 279,432
SHELL PLC 138,180 138,180
SHERWIN-WILLIAMS CO/THE 238,604 238,604
SIEMENS AG 470,039 470,039
THERMO FISHER SCIENTIFIC INC 345,014 345,014
UNION PACIFIC CORP 521,943 521,943
UNITEDHEALTH GROUP INC 421,176 421,176
WASTE MANAGEMENT INC 461,183 461,183
WEC ENERGY GROUP, INC 267,240 267,240
WILLIAMS COS INC 234,225 234,225

TY 2023 InvestmentsOtherSchedule2
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
LEP XVI (LANDMARK) PRIVATE FMV 544,643 544,643
LEXINGTON X PRIVATE INVESTORS FMV 254,729 254,729
SIT DEV MARKETS GROWTH FUND FMV 1,147,536 1,147,536
SIT SMALL CAP GROWTH FUND FMV 3,785,877 3,785,877

TY 2023 OtherExpensesSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MN AG FILING FEE 25 0   25


TY 2023 OtherIncreasesSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Description Amount
CHANGE IN UNREALIZED GAINS/LOSSES 5,800,049


TY 2023 OtherProfessionalFeesSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BROKERAGE FEES 19,315 19,315   0


TY 2023 TaxesSchedule
Name:
THE MARK E AND MARY A DAVIS FOUNDATION
EIN:
32-6369521
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX PAYMENT 23,000 0   0
FOREIGN TAX PAYMENT 13,142 13,142   0