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
DUANE AND KATHLEEN FOULKES
FOUNDATION INC
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 337
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BEAVER DAM, WI539160337
A Employer identification number

20-5592397
B Telephone number (see instructions)

(920) 356-1300
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$10,586,946J 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 3,447 3,447  
4 Dividends and interest from securities... 210,039 209,783  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 547,406
b Gross sales price for all assets on line 6a 2,527,588
7 Capital gain net income (from Part IV, line 2)... 547,406
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........ 760,892 760,636  
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
5,800 2,900   2,900
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
67,023 67,023   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,124 3,624   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
102 0   77
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 82,049 73,547   2,977
25 Contributions, gifts, grants paid....... 487,214 487,214
26 Total expenses and disbursements. Add lines 24 and 25 569,263 73,547   490,191
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 191,629
b Net investment income (if negative, enter -0-) 687,089
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............. 28,404 15,749 15,749
2 Savings and temporary cash investments......... 190,720 194,407 194,407
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)....... 7,986,176 Click to see attachment
List of Attached Documents:
// Content
8,697,634 		8,697,634
c Investments—corporate bonds (attach schedule)....... 1,191,919 Click to see attachment
List of Attached Documents:
// Content
1,679,156 		1,679,156
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)..........      
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) 9,397,219 10,586,946 10,586,946
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   24,975
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 24,975
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 9,397,219 10,561,971
29 Total net assets or fund balances (see instructions)..... 9,397,219 10,561,971
30 Total liabilities and net assets/fund balances (see instructions). 9,397,219 10,586,946
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
9,397,219
2
Enter amount from Part I, line 27a .....................
2
191,629
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
973,123
4
Add lines 1, 2, and 3 ..........................
4
10,561,971
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
10,561,971
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      
b SECURITY LITIGATION SETTLEMENTS      
c CAPITAL GAINS DIVIDENDS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,455,801   1,980,182 475,619
b 3,197     3,197
c 68,590     68,590
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       475,619
b       3,197
c       68,590
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 2 547,406
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 9,551
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 9,551
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 9,551
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 6,630
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 14,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 20,630
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 11,079
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow11,079 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 arrowWI
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 arrowDUANE FOULKES Telephone no.right arrow (920) 356-1300

Located atright arrowPO BOX 337BEAVER DAMWI ZIP+4right arrow539160337
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)
 
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
DUANE E FOULKES DIRECTOR
0.10 		0 0 0
PO BOX 337
BEAVER DAM,WI539160337
KRISTINE M ECKLES DIRECTOR
0.10 		0 0 0
PO BOX 337
BEAVER DAM,WI539160337
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
WEALTHSPIRE ADVISORS INVESTMENT MANAGEMENT 67,023
521 FIFTH AVE 15TH FLOOR
NEW YORK,NY10175
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
9,893,319
b
Average of monthly cash balances.......................
1b
194,172
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
10,087,491
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
10,087,491
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
151,312
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
9,936,179
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
496,809
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
496,809
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
9,551
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,551
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
487,258
4
Recoveries of amounts treated as qualifying distributions................
4
5,000
5
Add lines 3 and 4............................
5
492,258
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
492,258
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
490,191
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
490,191
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 7 492,258
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 447,670
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 490,191
a Applied to 2022, but not more than line 2a 447,670
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..... 42,521
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 .......... 		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 .......... 		449,737
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....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
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).)
DUANE E FOULKES
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

ARC-WISCONSIN DISABILITY ASSOCIATION (ARC OF DODGE COUNTY)

PO BOX 173
BEAVER DAM,WI53916 		  PC SOCIAL SERVICES SUPPORT 500

BEAVER DAM AREA COMMUNITY THEATRE INC (NON-CASH 154 SHARES J)

PO BOX 216
BEAVER DAM,WI53916 		  PC ARTS SUPPORT 20,470

BEAVER DAM COMMUNITY HOSPITALS FOUNDATION INC

707 S UNIVERSITY AVENUE
BEAVER DAM,WI53916 		  PC HEALTHCARE SUPPORT 1,000

BEAVER DAM ELKS LODGE #1540 (ELKS NATIONAL FOUNDATION)

126 S SPRING STREET
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 500

BEAVER DAM FAMILY CENTER

609 GOULD STREET
BEAVER DAM,WI53916 		  PC YOUTH DEVELOPMENT 1,000

BEAVER DAM FLATTAIL INC

123 N SPRING STREET
BEAVER DAM,WI53916 		  PC YOUTH DEVELOPMENT - FOOTBALL 500

BEAVER DAM GIRLS' 3-PT CLUB

W8169 MARK CIRCLE
BEAVER DAM,WI53916 		  PC ATHLETIC SUPPORT - BD GIRL'S 3 PT. CLUB 2,500

BEAVER DAM LAKE IMPROVEMENT ASSOCIATION INC

PO BOX 33
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 19,500

BEAVER DAM SCHOLARSHIP FDN INC (SCHOLARSHIP AMERICA)

PO BOX 98
BEAVER DAM,WI53916 		  PC EDUCATIONAL SUPPORT 2,500

BO WILLIAM HARTWIG FOUNDATION (BO'S HEAVENLY CLUBHOUSE)

121 S CEDAR STREET
HORICON,WI53032 		  PC HUMAN SERVICES 5,000

BRIDGES OF DODGE COUNTY INC (MEN'S SOBER HOUSE)

PO BOX 244
BEAVER DAM,WI53916 		  PC HUMAN SERVICES 1,000

CAMPANILE CENTER FOR THE ARTS INC

PO BOX 905
MINOCQUA,WI53548 		  PC ARTS SUPPORT 5,000

CHURCH HEALTH SERVICES INC

308 ONEIDA STREET
BEAVER DAM,WI53916 		  PC SOCIAL SERVICES SUPPORT 14,500

CLOTHES FOR KIDS INC

1019 S SPRING STREET
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 5,000

COLE COLLECTION INC

8596 NORTHBLUFF LANE
POWELL,OH43065 		  PC HUMAN SERVICES 1,000

COTTAGE GROVE COMMUNITY FOUNDATION

PO BOX 184
COTTAGE GROVE,WI53527 		  PC COMMUNITY SUPPORT 5,000

CROSS COUNTRY CRUISERS INC

PO BOX 733
WOODRUFF,WI53548 		  PC TRAIL MAINTENANCE SUPPORT 500

DODGE COUNTY CENTER FOR THE ARTS (BEAVER DAM AREA ARTS ASSOCIATION)

PO BOX 442
BEAVER DAM,WI53916 		  PC ARTS SUPPORT 500

DODGE COUNTY CONCERT ASSOCIATION

PO BOX 462
BEAVER DAM,WI53916 		  PC ARTS SUPPORT 1,000

DODGE COUNTY HUMANE SOCIETY

N6839 STATE ROAD 26
JUNEAU,WI53039 		  PC ANIMAL WELFARE 3,000

DODGE COUNTY LAW ENFORCEMENT SHOP WITH COPS

124 WEST STREET
JUNEAU,WI53039 		  PC SHOP WITH COPS 1,000

DODGE COUNTY TOY BANK INC

PO BOX 438
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 2,500

DOMESTIC ABUSE INTERVENTION SERVICES

2102 FORDEM AVENUE
MADISON,WI53704 		  PC SUPPORT FOR DOMESTIC VIOLENCE SURVIVORS AND THEIR FAMILIES 2,500

GREEN VALLEY ENTERPRISES INC OF BEAVER DAM

1223 MADISON STREET
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 1,000

HOWARD YOUNG FOUNDATION INC

PO BOX 470
WOODRUFF,WI53548 		  PC AUTISM SUPPORT 67,000

KATHY'S HOUSE INC

600 N 103RD STREET
WAUWATOSA,WI53226 		  PC CAPITAL CAMPAIGN 1,000

LAKELAND UNION HIGH SCHOOL

9573 STATE HIGHWAY 70
MINOCQUA,WI54548 		  PC EDUCATIONAL SUPPORT 1,000

MAMA'S HOUSE

PO BOX 1816
PALM DESERT,CA92261 		  PC COMMUNITY SUPPORT 1,000

MAYO CLINIC (NON CASH 522 SHARES AAPL)

200 FIRST STREET SW
ROCHESTER,MN55905 		  PC HUMAN SERVICES 100,934

MAYO CLINIC

200 FIRST STREET SW
ROCHESTER,MN55905 		  PC HUMAN SERVICES 1,500

MINOCQUA KAWAGUESAGA LAKES PROTECTION ASSOCIATION INC

PO BOX 494
MINOCQUA,WI54548 		  PC ENVIRONMENTAL SUPPORT 1,100

MINOCQUA VOLUNTEER FIRE DEPARTMENT

PO BOX 632
MINOCQUA,WI54548 		  NC COMMUNITY SUPPORT 500

NORTH LAKELAND DISCOVERY CENTER INC

PO BOX 237
MANITOWISH WATERS,WI54545 		  PC EDUCATIONAL SUPPORT 500

NORTHWOODS WILDLIFE HOSPITAL AND REHABILITATION CENTER INC

8643 S BLUMENSTEIN ROAD
MINOCQUA,WI54548 		  PC WILDLIFE REHABILITATION 2,500

PAVE - PEOPLE AGAINST A VIOLENT ENVIRONMENT INCORPORATION

PO BOX 561
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 2,500

SALVATION ARMY OF DODGE COUNTY

PO BOX 824
BEAVER DAM,WI53916 		  PC COMMUNITY SUPPORT 2,000

SAVANNA OAKS COMMUNITY CENTER

PO BOX 152
FALL RIVER,WI53932 		  PC COMMUNITY/CULTURAL SUPPORT 100

SHEPHERD OF THE VALLEY

8997 W 88TH AVENUE
WESTMINSTER,CO80021 		  PC RELIGIOUS SUPPORT 25,000

ST ANNE CATHOLIC CHURCH

10315 MAIN STREET
BOULDER JUNCTION,WI54512 		  PC RELIGIOUS SUPPORT 500

ST STEPHEN'S EVANGELICAL LUTHERAN CHURCH - FALL RIVER

221 N MAIN STREET
FALL RIVER,WI53932 		  PC RELIGIOUS SUPPORT 1,500

ST STEPHEN'S LUTHERAN CHURCH - BEAVER DAM

300 WEST STREET
BEAVER DAM,WI53916 		  PC RELIGIOUS SUPPORT 15,248

TEMPLE GRANDIN SCHOOL

3131 INDIAN ROAD
BOULDER,CO80301 		  PC EDUCATIONAL SUPPORT FOR STUDENTS WITH ASPERGER'S 1,000

TRINITY LUTHERAN CHURCH - MINOQUA

8781 BRUNSWICK ROAD
MINOCQUA,WI54548 		  PC RELIGIOUS SUPPORT 1,000

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC SUPPORT 25,000

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC CARBONE CANCER CENTER 57,349

WELS FOUNDATION INC (NON-CASH 135 SHARES AAPL)

N16W23377 STONE RIDGE DRIVE
WAUKESHA,WI53188 		  PC RELIGIOUS SUPPORT 25,549

WISCONSIN BADGER STATE SHERIFFS ASSOCIATION (CO BROWN COUNTY SHERIFF'S OFFI

1300 LANGE COURT
BARABOO,WI53913 		  PC ENHANCE AND PROTECT THE CONSTITUTIONAL OFFICE OF THE SHERIFF 200

WORLD ORPHAN FUND INC

N7130 N LOST LAKE ROAD
RANDOLPH,WI53956 		  PC SOCIAL SERVICES SUPPORT 500

YMCA OF DODGE COUNTY INC (NON-CASH 188 SHARES EME)

220 CORPORATE DRIVE
BEAVER DAM,WI53916 		  PC HUMAN SERVICES 39,392

YMCA OF DODGE COUNTY INC (NON-CASH 85 SHARES J)

220 CORPORATE DRIVE
BEAVER DAM,WI53916 		  PC HUMAN SERVICES 11,372

YMCA OF DODGE COUNTY INC

220 CORPORATE DRIVE
BEAVER DAM,WI53916 		  PC HUMAN SERVICES 5,000
Total .................................right arrow 3a 487,214
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 3,447  
4 Dividends and interest from securities ....     14 210,039  
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 ............ 		    18 547,406  
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) .. 0 760,892 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
760,892
(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:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 5,800 2,900   2,900

TY 2023 InvestmentsCorpBondsSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Name of Bond End of Year Book Value End of Year Fair Market Value
BCOIX 320,331 320,331
DHEIX 373,570 373,570
DODIX 429,346 429,346
NSTLX 172,330 172,330
OSTIX 151,329 151,329
VAIPX 232,250 232,250

TY 2023 InvestmentsCorpStockSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Name of Stock End of Year Book Value End of Year Fair Market Value
ODVIX 317,049 317,049
GQGIX 110,746 110,746
CCALX 244,932 244,932
DHMIX 281,346 281,346
DODGX 845,660 845,660
FEUPX 315,059 315,059
FUNFX 650,589 650,589
HMDFX 260,094 260,094
JOHIX 531,912 531,912
VTIAX 474,555 474,555
VFIAX 738,503 738,503
EMLP 72,492 72,492
IVW 183,995 183,995
SPY 573,224 573,224
SCHD 372,733 372,733
FIF 87,847 87,847
NTB 15,429 15,429
G 31,378 31,378
A 39,902 39,902
AL 29,568 29,568
ALB 18,060 18,060
BATRK 277 277
BDX 30,479 30,479
CBRE 40,867 40,867
EEFT 40,799 40,799
FNF 29,388 29,388
FTRE 5,549 5,549
ICE 37,373 37,373
J 10,384 10,384
LH 36,139 36,139
LLYVK 411 411
FWONK 17,298 17,298
OXY 32,064 32,064
PVH 25,645 25,645
ROP 25,623 25,623
ROST 44,146 44,146
SEIC 22,560 22,560
VIRT 28,668 28,668
WAB 42,511 42,511
WMG 16,750 16,750
ARE 40,313 40,313
EQIX 37,048 37,048
MAA 28,102 28,102
SBAC 23,847 23,847
A C N 31,231 31,231
ABT 32,030 32,030
ABBV 39,052 39,052
ADBE 35,199 35,199
AKAM 41,659 41,659
GOOGL 88,005 88,005
AMZN 89,645 89,645
AMGN 46,947 46,947
AAPL 12,900 12,900
ADSK 38,957 38,957
AZO 36,199 36,199
AVGO 16,744 16,744
CBOE 21,070 21,070
CSCO 22,077 22,077
CMCSA 50,340 50,340
CPRT 24,500 24,500
COST 58,087 58,087
DIS 35,033 35,033
DBX 48,701 48,701
FAST 19,496 19,496
HEI 23,432 23,432
HD 37,774 37,774
INTU 26,876 26,876
JNJ 27,586 27,586
KVUE 28,721 28,721
KEYS 27,841 27,841
LDOS 21,756 21,756
LLYVK 43,719 43,719
MMC 28,799 28,799
MA 45,637 45,637
MCD 46,552 46,552
MSFT 156,057 156,057
NBIX 39,396 39,396
ORCL 33,843 33,843
OTIS 18,162 18,162
PYPL 31,872 31,872
PEP 44,158 44,158
RSG 29,024 29,024
SPGI 30,396 30,396
NOW 38,150 38,150
SNPS 30,380 30,380
TJX 63,415 63,415
TXN 31,535 31,535
UP 35,860 35,860
UNH 33,168 33,168
VRSK 21,020 21,020
V 42,177 42,177
WAT 27,984 27,984
ZTS 33,158 33,158

TY 2023 OtherExpensesSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
WDFI ANNUAL REPORT FILING FEE 25 0   0
CHECKING ACCOUNT FEES AND CHECKS 77 0   77


TY 2023 OtherIncreasesSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Description Amount
CHANGE IN UNREALIZED APPRECIATION 744,362
UNREALIZED GAINS ON NON-CASH STOCK DISTRIBUTIONS TO QUALIFIED CHARITIES 175,416
TIMING DIFFERENCES ON RECEIPT OF INCOME 48,345
RECOVERY OF AMOUNT TREATED AS A QUALIFYING DISTRIBUTION IN A PREVIOUS YEAR 5,000


TY 2023 OtherProfessionalFeesSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 67,023 67,023   0


TY 2023 TaxesSchedule
Name:
DUANE AND KATHLEEN FOULKES
 
FOUNDATION INC
EIN:
20-5592397
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 3,624 3,624   0
DEPARTMENT OF TREASURY - 2022 EXTENSION PAYMENT 3,000 0   0
DEPARTMENT OF TREASURY - 2023 ESTIMATED PAYMENT 2,500 0   0