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
ASHLEY CHARITABLE FOUNDATION LTD
 
Number and street (or P.O. box number if mail is not delivered to street address)ONE ASHLEY WAY
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ARCADIA, WI54612
A Employer identification number

39-1948289
B Telephone number (see instructions)

(608) 323-6824
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$9,922,942J 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 19,415 19,415  
4 Dividends and interest from securities... 240,875 240,875  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -3,445
b Gross sales price for all assets on line 6a 4,742,988
7 Capital gain net income (from Part IV, line 2)... 0
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........ 256,845 260,290 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
19,352 17,889 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
3,000 0 0 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
74 74 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 22,426 17,963 0 0
25 Contributions, gifts, grants paid....... 2,210,294 2,210,294
26 Total expenses and disbursements. Add lines 24 and 25 2,232,720 17,963 0 2,210,294
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,975,875
b Net investment income (if negative, enter -0-) 242,327
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 74,949 81,540 81,575
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.......... 811 284 284
10a Investments—U.S. and state government obligations (attach schedule) 4,220,031 Click to see attachment
List of Attached Documents:
// Content
4,251,846 		4,133,497
b Investments—corporate stock (attach schedule)....... 8,346 Click to see attachment
List of Attached Documents:
// Content
8,346 		23,725
c Investments—corporate bonds (attach schedule)....... 7,891,654 Click to see attachment
List of Attached Documents:
// Content
5,877,900 		5,683,861
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) 12,195,791 10,219,916 9,922,942
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........ 12,195,793 10,219,916
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds -2 0
29 Total net assets or fund balances (see instructions)..... 12,195,791 10,219,916
30 Total liabilities and net assets/fund balances (see instructions). 12,195,791 10,219,916
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
12,195,791
2
Enter amount from Part I, line 27a .....................
2
-1,975,875
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
10,219,916
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
10,219,916
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 ENERGY TRANSFER PARTNERS, L.P. 3.6% 02/01/2023 P 2016-12-31 2023-02-01
b HOSPITALITY PROPERTIES TRUST 4.5% 06/15/2023 P 2016-12-31 2023-03-08
c BOSTON PROPERTIES LP 3.125% 09/01/2023 P 2016-12-31 2023-09-01
d MYLAN N.V. 4.2% 11/29/2023 P 2016-12-31 2023-11-29
e WYNDHAM WORLDWIDE CORP 3.9% 03/01/2023 P 2016-12-31 2023-03-01
MORGAN STANLEY MTN 4.1% 05/22/2023 P 2016-12-31 2023-05-22
WELLS FARGO & COMPANY MTN 4.125% 08/15/2023 P 2016-12-31 2023-08-15
VERIZON COMMUNICATIONS INC. 3.5% 11/01/2024 P 2016-12-31 2023-09-08
GENERAL DYNAMICS CORP 3.375% 055/15/2023 USD SUB LIEN P 2018-05-11 2023-05-15
AMERICAN EXPRESS COMPANY 3.7% 08/03/2023 SER FIX SR LIEN P 2018-08-03 2023-07-03
KFW 2.125% 01/17/2023 SR LIEN P 2018-04-24 2023-01-17
U.S. TREASURY NOTE 2.125000% 11/30/2023 MN P 2018-10-18 2023-01-27
FEDERAL HOME LOAN BANK SYSTEM 2.875% 06/14/2024 P 2019-06-28 2023-09-08
FEDERAL HOME LOAN BANK SYSTEM 2.875% 09/13/2024 P 2019-10-01 2023-07-27
ROPER TECHNOLOGIES INC 3.65% 09/15/2023 USD P 2020-05-20 2023-09-15
U.S. TREASURY NOTE 0.125000% 10/15/2023 AO P 2020-10-26 2023-01-27
AT&T INC. 3.8% 02/15/2027 USD P 2021-01-21 2023-07-18
DUKE ENERGY CORP 2.65% 09/01/2026 USD P 2021-01-21 2023-09-08
U.S. TREASURY NOTE 1.625000% 04/30/2023 AO P 2021-01-22 2023-05-01
WEC ENERGY GROUP INC 1.375% 10/15/2027 USD P 2022-04-22 2023-09-08
U.S. TREASURY NOTE 0.625000% 12/31/2027 JD P 2022-07-25 2023-09-08
U.S. TREASURY BILL DUE 07/13/2023 P 2022-08-12 2023-03-08
U.S. TREASURY BILL DUE 09/07/2023 P 2022-10-04 2023-01-27
U.S. TREASURY BILL DUE 06/29/2023 P 2023-01-30 2023-05-02
U.S. TREASURY BILL DUE 02/22/2024 P 2023-03-10 2023-09-08
(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 100,000   100,405 -405
b 80,000   78,964 1,036
c 100,000   92,505 7,495
d 85,000   86,114 -1,114
e 100,000   98,079 1,921
150,000   147,962 2,038
100,000   99,385 615
61,499   62,584 -1,085
168,000   167,355 645
210,000   209,782 218
300,000   289,023 10,977
440,331   430,910 9,421
465,785   478,534 -12,749
315,699   329,445 -13,746
110,000   110,000 0
188,662   194,619 -5,957
6,652   7,612 -960
99,617   112,672 -13,055
300,000   300,000 0
59,063   60,728 -1,665
102,182   105,315 -3,133
255,496   252,564 2,932
170,073   168,803 1,270
539,740   533,619 6,121
235,189   229,454 5,735
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       -405
b       1,036
c       7,495
d       -1,114
e       1,921
      2,038
      615
      -1,085
      645
      218
      10,977
      9,421
      -12,749
      -13,746
      0
      -5,957
      -960
      -13,055
      0
      -1,665
      -3,133
      2,932
      1,270
      6,121
      5,735
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 -3,445
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 16,058
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 3,368
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 3,368
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 3,368
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,811
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,811
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 2,443
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow2,443 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 arrowTROY MULLER Telephone no.right arrow (608) 323-6824

Located atright arrowONE ASHLEY WAYARCADIAWI ZIP+4right arrow54612
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
RONALD G WANEK PRESIDENT
1.00 		0 0 0
1600 E 8TH AVENUE SUITE A210A
TAMPA,FL33605
TODD R WANEK VICE PRESIDENT
1.00 		0 0 0
1600 E 8TH AVENUE SUITE A210A
TAMPA,FL33605
CHARLES HE VOGEL TREASURER
1.00 		0 0 0
1600 E 8TH AVENUE
TAMPA,FL33605
SHARI S WAGNER SECRETARY
1.00 		0 0 0
1600 E 8TH AVENUE SUITE A210A
TAMPA,FL33605
TROY MULLER ASSISTANT TREASURER
1.00 		0 0 0
ONE ASHLEY WAY
ARCADIA,WI54612
STEPHEN R CALKINS ASSISTANT SECRETARY
1.00 		0 0 0
1600 E 8TH AVENUE
TAMPA,FL33605
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
10,842,075
b
Average of monthly cash balances.......................
1b
202,128
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
11,044,203
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
11,044,203
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
165,663
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
10,878,540
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
543,927
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
543,927
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
3,368
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
3,368
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
540,559
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
540,559
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
540,559
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
2,210,294
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
2,210,294
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 7 540,559
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...... 2,988,089
b From 2019...... 3,251,481
c From 2020...... 3,464,437
d From 2021...... 4,201,025
e From 2022...... 1,219,220
f Total of lines 3a through e ........ 15,124,252
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 2,210,294
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..... 540,559
e Remaining amount distributed out of corpus 1,669,735
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 16,793,987
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) ... 		2,988,089
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		13,805,898
10 Analysis of line 9:
a Excess from 2019.... 3,251,481
b Excess from 2020.... 3,464,437
c Excess from 2021.... 4,201,025
d Excess from 2022.... 1,219,220
e Excess from 2023.... 1,669,735
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
LISA GAAPA
ONE ASHLEY WAY
ARCADIA,WI54612
(608) 323-6253
bThe form in which applications should be submitted and information and materials they should include:
POLICY ON UNSOLICITED REQUESTS FOR FUNDS - WRITTEN REQUEST TO LISA GAPPA, ASHLEY FURNITURE INDUSTRIES, INC. ONE ASHLEY WAY, ARCADIA, WI 54612. REQUEST MUST INCLUDE NAME OF ORGANIZATION REQUESTING THE FUNDS, EXPLANATION OF ORGANIZATION INCLUDING ITS PURPOSE, MEMBERSHIP, WHOM IT SERVES OR WHAT IT ATTEMPTS TO ACCOMPLISH, EXPLANATION OF PROJECT OR ACTIVITY FOR WHICH THE ORGANIZATION IS SEEKING FUNDS, AMOUNT BEING REQUESTED OR IN KIND DONATION BEING SOLICITED FOR, HOW FUNDS WILL BE USED, AND AN EXPLANTION OF THE ORGANGIZATIONS FUNDRAISING PLANS FOR THE PROJECT OR ACTIVITY, NOT TO EXCEED 1 PAGE.
cAny submission deadlines:
REQUESTS ARE ACCEPTED AT ANY TIME DURING THE YEAR, BUT CAN TAKE UP TO 12 WEEKS TO PROCESS.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION WILL ONLY ACCEPT REQUESTS FROM AN ORGANIZATION AS DEFINED IN THE POLICY ON UNSOLICTED REQUESTS FOR FUNDS ONE TIME EACH YEAR.
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

ASHLEYS ANGELS INC - MS

5551 FRIENDSHIP ROAD
PONTOTOC,MS38863 		    GENERAL SUPPORT 85,000

VILLAGE OF TAYLOR

PO BOX 171
TAYLOR,WI54659 		    SUPPORT OF FIRE DEPARTMENT 2,500

ALZHEIMER'S ASSOCIATION

7900 W 78TH STREET SUITE 100
MINNEAPOLIS,MN55439 		    GENERAL SUPPORT 7,500

JUNIOR ACHIEVEMENT WISC INC

2004 HIGHLAND AVENUE SUITE 2C
EAU CLAIRE,WI54701 		    GENERAL SUPPORT 5,000

BRILLO DE SOL

6605 WALNUTWOOD CIR
BALTIMORE,MD212121214 		    GENERAL SUPPORT 2,500

LA CROSSE AREA VETERANS MENTOR

212 6TH ST NORTH ROOM 450
LA CROSSE,WI54601 		    GENERAL SUPPORT 2,500

THE GOOD FIGHT COMMUNITY CENTER

118 6TH STREET NORTH
LA CROSSE,WI54601 		    GENERAL SUPPORT 20,000

WHITEHALL SCHOOL DISTRICT

19121 HOBSON ST
WHITEHALL,WI54773 		    CLUSTER A SUMMER SEMINAR/WORKSHOP FOR ALL TEACHING STAFF WITHIN 8 LOCAL SCHOOL DISTRICTS 2,500

ST PAUL'S LUTHERAN SCHOOL

1201 MAIN ST
ONALASKA,WI54650 		    SUPPORT VEX ROBOTICS TEAM 700

WESTBY AREA SCHOOL DISTRICT

206 WEST AVENUE SOUTH
WESTBY,WI54667 		    SUPPORT VEX ROBOTICS TEAM 1,200

AQUINAS CATHOIC SCHOOLS

315 11TH ST S SUITE 2200
LA CROSSE,WI54601 		    GENERAL SUPPORT - FIRST ROBOTICS 1,000

WHITEHALL SCHOOL DISTRICT

19121 HOBSON ST
WHITEHALL,WI54773 		    SUPPORT VEX ROBOTICS TEAM 2,000

SEVEN RIVERS ROBOTICS COALITION INC

1501 WILSON STREET
ONALASKA,WI54650 		    GENERAL SUPPORT - FIRST ROBOTICS 5,000

ASHLEY K-12 ROBOTICS INC

ONE ASHLEY WAY
ARCADIA,WI54612 		    GENERAL SUPPORT - FIRST ROBOTICS 5,000

BERKS CAREER & TECHNOLOGY CENTER

1057 COUNTY WELFARE ROAD
LEESPORT,PA195338631 		    SKILLSUSA CHAPTER SUPPORT 3,000

VANGAURD HIGH SCHOOL

4201 FAITHON P LUCAS SR BLVD
MESQUITE,TX75149 		    SKILLSUSA CHAPTER SUPPORT 2,000

WEST MESQUITE HIGH SCHOOL

2500 MEMORIAL PARKWAY
MESQUITE,TX75149 		    SKILLSUSA CHAPTER SUPPORT 2,000

PONTOTOC COUNTY SCHOOLS

354 CENTER RIDGE DRIVE
PONTOTOC,MS38863 		    SKILLSUSA CHAPTER SUPPORT 2,000

NEW ALBANY SCHOOL DISTRICT

1112 WESSON TATE DRIVE
NEW ALBANY,MS38652 		    SKILLSUSA CHAPTER SUPPORT 2,000

SCHUYLKILL VALLEY SCHOOL DISTRICT

929 LAKESHORE DRIVE
LEESPORT,PA195338631 		    TECHNOLOGY STUDENT ASSOCIATION (TSA) CHAPTER SUPPORT 600

TUPELO SCHOOLS

72 S GREEN ST
TUPELO,MS38804 		    SKILLSUSA CHAPTER SUPPORT 2,000

SOUTH TIPPAH SCHOOL DISTRICT

402 GREENLEE ST
RIPLEY,MS38663 		    SKILLSUSA CHAPTER SUPPORT 2,000

ITAWAMBA COUNTY SCHOOLS

605 SOUTH CUMMINGS
FULTON,MS38843 		    SKILLSUSA CHAPTER SUPPORT 2,000

LEE COUNTY SCHOOL DISTRICT

1280 COLLEGE VIEW DRIVE
TUPELO,MS38804 		    SKILLSUSA CHAPTER SUPPORT 2,000

DAVIE COUNTY SCHOOLS

220 CHERRY STREET
MOCKSVILLE,NC27028 		    SKILLSUSA CHAPTER SUPPORT 2,000

SCHOOL DISTRICT OF HOLMEN

1019 MCHUGH ROAD
HOLMEN,WI54636 		    SKILLSUSA CHAPTER SUPPORT 1,600

DURAND-ARKANSAW SCHOOL DISTRICT

604 7TH AVE EAST
DURAND,WI54736 		    SKILLSUSA CHAPTER SUPPORT 800

GALE-ETTRICK-TREMPEALEAU SCHOOL DISTRICT

17511 N MAIN ST
GALESVILLE,WI54630 		    SKILLSUSA CHAPTER SUPPORT 1,600

SCHOOL DISTRICT OF ALMA CENTER-HUMBIRD-MERRILLAN

124 SOUTH SCHOOL STREET
ALMA CENTER,WI54611 		    SKILLSUSA CHAPTER SUPPORT 1,200

SCHOOL DISTRICT OF BLACK RIVER FALLS

301 NORTH 4TH STREET
BLACK RIVER FALLS,WI54615 		    SKILLSUSA CHAPTER SUPPORT 800

COCHRANE-FOUNTAIN CITY SCHOOL DISTRICT

S2770 STATE ROAD 35
FOUNTAIN CITY,WI54629 		    SKILLSUSA CHAPTER SUPPORT 2,000

BLAIR-TAYLOR SCHOOL DISTRICT

N31024 ELLAND RD
BLAIR,WI54616 		    SKILLSUSA CHAPTER SUPPORT 2,000

CITY OF ARCADIA

203 W MAIN STREET
ARCADIA,WI54612 		    SHADE TREES 29,500

CITY OF ARCADIA

203 W MAIN STREET
ARCADIA,WI54612 		    ORNAMENTAL TREES & SHADE TREES & STUMP GRINDING 120,800

CITY OF ARCADIA

203 W MAIN STREET
ARCADIA,WI54612 		    SHADE TREES & ARBOR VITAE TRANSPLANT 14,600

CITY OF ARCADIA

203 W MAIN STREET
ARCADIA,WI54612 		    DRILLING & HYDROSEEDING AT MEMORIAL PARK 21,750

GOOD FIGHT COMM CENTER

118 6TH STREET NORTH
LA CROSSE,WI54601 		    GENERAL SUPPORT 2,500

BLAIR-TAYLOR SCHOOL DISTRICT

N31024 ELLAND RD
BLAIR,WI54616 		    FCCLA NATIONALS 1,000

WHITEHALL SCHOOL DISTRICT

19121 HOBSON ST
WHITEHALL,WI54773 		    FCCLA NATIONALS 2,060

ARCADIA SCHOOL DISTRICT

730 RAIDER DRIVE
ARCADIA,WI54612 		    FBLA NATIONALS 1,590

DAYTON CHILDERNS HOSPITAL

1 CHILDRENS PLZ
DAYTON,OH454041815 		    GENERAL SUPPORT 5,000

ALMA SCHOOL DISTRICT

S1618 ST HWY 35
ALMA,WI54610 		    VEX GRANT AWARD 865

ARCADIA SCHOOL DISTRICT

730 RAIDER DRIVE
ARCADIA,WI54612 		    VEX GRANT AWARD 559

BLACK RIVVER FALLS SCHOOL DISTRICT

1202 PIERCE ST
BLACK RIVER FALLS,WI54615 		    VEX GRANT AWARD 703

ELEVA STRUM SCHOOL DISTRICT

W23597 US HWY 10
STRUM,WI54770 		    VEX GRANT AWARD 358

GILMANTON SCHOOL DISTRICT

S889 LARSON RD
GILMANTON,WI54747 		    VEX GRANT AWARD 1,364

HOLY FAMILY CATHOLIC SCHOOL

532 MCKINLEY ST
ARCADIA,WI54612 		    VEX GRANT AWARD 2,153

INDEPENDENCE SCHOOL DISTRICT

23786 INDEE BOULEVARD
INDEPENDENCE,WI54747 		    VEX GRANT AWARD 992

LA CROSSE SCHOOL DISTRICT

807 EAST AVENUE SOUTH
LA CROSSE,WI54601 		    VEX GRANT AWARD 5,328

LEWISTON ALTURA SCHOOL DISTRICT

100 COUNTY RD 25
LEWISTON,MN55952 		    VEX GRANT AWARD 5,497

MELROSE-MINDORO SCHOOL DISTRICT

N181 STATE ROAD 108
MELROSE,WI54642 		    VEX GRANT AWARD 629

MT CALVARY GRACE LUTHERAN SCHOOL

1614 PARK AVE
LA CROSSE,WI54601 		    VEX GRANT AWARD 260

OSSEO FAIRCHILD SCHOOL DISTRICT

50851 EAST STREET
OSSEO,WI54758 		    VEX GRANT AWARD 1,069

SOUTH TIPPAH SCHOOL DISTRICT

402 GREENLEE AVE
RIPLEY,MS38663 		    VEX GRANT AWARD 11,479

ST JOHN'S LUTHERAN SCHOOL

419 JEFFERSON AVE
SPARTA,WI54656 		    VEX GRANT AWARD 1,000

ST MATTHEW'S LUTHERAN SCHOOL

756 W WABASHA ST
WINONA,MN55987 		    VEX GRANT AWARD 1,280

PONTOTOC COUNTY SCHOOLS

1620 OLD HWY 15
ECRU,MS38841 		    VEX GRANT AWARD 1,499

NEW ALBANY SCHOOL DISTRICT

1112 WESSON TATE DRIVE
NEW ALBANY,MS38652 		    VEX GRANT AWARD 6,706

HELPING A HERO ORG

PO BOX 19310
HOUSTON,TX772249310 		    GENERAL SUPPORT 50,000

WHITEHALL SCHOOL DISTRICT

19121 HOBSON ST
WHITEHALL,WI54773 		    VEX GRANT AWARD 2,920

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 350,000

MAKE-A-WISH WISCONSIN

11020 W PLANK CT SUITE 200
WAUWATOSA,WI53226 		    GENERAL SUPPORT 5,000

ST JOHN'S LUTHERAN SCHOOL

720 N MARSHALL ST
CALEDONIA,MN55921 		    VEX GRANT AWARD 740

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 75,000

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 105,000

ITAWAMBA COMMUNITY COLLEGE FOUNDATION

605 SOUTH CUMMINGS
FULTON,MS38843 		    GENERAL SUPPORT 500,000

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 85,000

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 280,000

ASHLEY ANGELS OF WISCONSIN

PO BOX 51
ARCADIA,WI54612 		    GENERAL SUPPORT 48,030

ASHLEY ANGELS OF WISCONSIN

PO BOX 51
ARCADIA,WI54612 		    GENERAL SUPPORT 13,063

ASHLEY FOR THE ARTS LTD

PO BOX 155
ARCADIA,WI54616 		    GENERAL SUPPORT 260,000

NM STATE COLLEGE SOUTHEAST

308 PIONEER R
REDWING,MN55066 		    GENERAL SUPPORT 21,000
Total .................................right arrow 3a 2,210,294
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 19,415  
4 Dividends and interest from securities ....     14 240,875  
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 .....     14    
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -3,445  
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) .. 0 256,845 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
256,845
(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 InvestmentsCorpBondsSchedule
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
Name of Bond End of Year Book Value End of Year Fair Market Value
GOLDMAN SACHS GROUP, INC. MTN 4.0% 03/03/2024 90,223 90,223
SENIOR HOUSING PROPERTIES TRUS 4.75% 05/01/2024 124,605 125,495
JOHNSON CONTROLS INC. 3.625% 07/02/2024 100,186 100,082
QUEST DIAGNOSTICS INCORPORATED 4.25% 04/01/2024 152,472 151,054
VERIZON COMMUNICATIONS INC. 3.5% 11/01/2024 86,426 86,189
FEDERAL HOME LOAN BANK SYSTEM 2.875% 09/13/2024 252,126 248,649
GOLDMAN SACHS BANK USE DEPOSIT (BDA) 20,542 20,551
AMPHENOL CORP 2.05% 03/01/2025 149,744 145,807
PEPSICO INC 2.25% 03/19/2025 114,918 112,451
JOHNSON & JOHNSON 0.55% 09/01/2025 109,880 103,269
PACCAR FINANCIAL CORP MTN 1.8% 02/06/2025 USD 161,882 156,042
BNP PARIBAS MTN 4.25% 10/15/2024 USD 205,174 199,476
SYNCHRONY FINANCIAL 4.5% 07/23/2025 USD 93,979 89,699
WP CAREY INC 4.6% 04/01/2024 USD 60,524 60,432
MPLX LP 4.0% 02/15/2025 USD 61,775 59,990
SYSCO CORPORATION 3.75% 10/01/2025 USD 62,755 59,123
BAT CAPITAL CORP 3.215% 09/06/2026 USD 115,085 106,395
VEREIT OPERATING PARTNER 4.875% 06/01/2026 USD 98,029 90,467
KIMCO REALTY CORP 2.8% 10/01/2026 USD 124,995 114,106
SUNOCO LOGISTICS PARTNERS L.P. 3.9% 07/15/2026 USD 72,698 69,320
AT&T INC. 3.8% 02/15/2027 USD 121,671 111,966
DUKE ENERGY CORP 2.65% 09/01/2026 USD 79,995 73,792
HEWLETT PACKARD ENTERPRISE COM STEP 10/15/2025 99,147 85,489
CITIGROUP INC 3.4% 05/01/2026 USD 136,883 126,224
BANCO SANTANDER SA 2.746% 05/28/2025 USD 204,527 193,495
TOTAL SYSTEM SERVICES IN 4.8% 04/01/2026 USD 58,865 55,193
DISCOVER FINANCIAL SERVICES 4.5% 01/30/2026 USD 58,355 55,338
SUMITOMO MITSUI FINANCIAL GROU 3.01% 10/19/2026 USD 88,498 81,397
WELLS FARGO & COMPANY HYBRID 04/30/2026 USD 62,396 57,727
BANK OF AMERICA CORPORATION HYBRID MTN 06/19/2026 USD 246,966 234,511
GENERAL MOTORS FINANCIAL COMPA 4.35% 01/17/2027 USD 59,389 56,021
AIR LEASE CORP MTN 2.875% 01/15/2026 USD 121,674 115,946
WELLS FARGO & COMPANY HYBRID MTN 06/17/2027 USD 79,383 72,745
MORGAN STANLEY HYBRID 05/04/2027 USD 75,366 71,171
JPMORGAN CHASE & CO. HYBRID 01/29/2027 USD 242,518 224,615
SUMITOMO MITSUI FINANCIAL GROU 3.364% 07/12/2027 USD 90,697 85,250
DELL INT LLC / EMC CORP 4.9% 10/01/2026 USD 113,086 108,515
WEC ENERGY GROUP INC 1.375% 10/15/2027 USD 106,086 102,948
INTUIT INC 1.35% 07/15/2027 USD 60,258 59,045
CVS HEALTH CORPORATION 1.3% 08/21/2027 USD 58,593 57,188
WALT DISNEY COMPANY (THE) 2.2% 01/13/2028 USD 119,306 118,889
REALTY INCOME CORPORATION 3.65% 01/15/2028 USD 78,006 78,126
FIDELITY NATIONAL INFORMATION 1.15% 03/01/2026 USD 114,916 114,160
TOYOTA MOTOR CREDIT CORP MTN 3.05% 01/11/2028 USD 164,293 163,689
ENBRIDGE ENERGY PARTNERS 5.875% 10/15/2025 USD 76,036 75,703
ENBRIDGE INC 4.25% 12/01/2026 USD 66,207 65,375
3M COMPANY 2.875% 10/15/2027 USD 88,036 91,002
HORMEL FOODS CORP 1.7% 06/03/2028 USD 105,212 104,602
HORMEL FOODS CORP 1.7% 06/03/2028 USD 76,088 75,746
BROADCOM INC. 3.459% 09/15/2026 USD 61,922 62,570
MAGELLAN MIDSTREAM PARTN 5.0% 03/01/2026 USD 112,367 114,642
3M COMPANY 2.875% 10/15/2027 USD 78,303 77,731
PHILIP MORRIS INTERNATIONAL IN 4.875% 02/13/2026 91,882 94,071
INTEL CORPORATION 4.875% 02/10/2028 53,682 55,964
CBOE HOLDINGS INC 3.65% 01/12/2027 USD 53,713 55,308
INTEL CORPORATION 3.15% 05/11/2027 USD 54,699 56,034
MORGAN STANLEY HYBRID 05/04/2027 USD 60,861 62,853

TY 2023 InvestmentsCorpStockSchedule
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
Name of Stock End of Year Book Value End of Year Fair Market Value
VALARIS PLS - FKA: ENSCO PLC 4.5% 10/01/2024 (NOW CALLED VALARIS EFFECTIVE 7 8,346 23,725

TY 2023 InvestmentsGovtObligationsSch
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
US Government Securities - End of Year Book Value:

4,251,846
US Government Securities - End of Year Fair Market Value:

4,133,497
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2023 OtherExpensesSchedule
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER 74 74 0 0


TY 2023 OtherProfessionalFeesSchedule
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 19,352 17,889 0 0


TY 2023 TaxesSchedule
Name:
ASHLEY CHARITABLE FOUNDATION LTD
EIN:
39-1948289
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX 3,000 0 0 0