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
LLOYD K JOHNSON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)130 WEST SUPERIOR STREET SUITE 710
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DULUTH, MN55802
A Employer identification number

51-0180842
B Telephone number (see instructions)

(218) 726-9000
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$27,700,620J 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) 119,629
2 Check right arrow.............
3 Interest on savings and temporary cash investments 267 267  
4 Dividends and interest from securities... 897,807 897,807  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 609,486
b Gross sales price for all assets on line 6a 27,742,055
7 Capital gain net income (from Part IV, line 2)... 609,486
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)....... Click to see attachment
List of Attached Documents:
// Content
2,041    
12 Total. Add lines 1 through 11........ 1,629,230 1,507,560  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 157,008 39,252   142,620
14 Other employee salaries and wages...... 97,359 24,340   48,155
15 Pension plans, employee benefits....... 28,620 7,155   21,465
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
12,920 3,230   9,690
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
119,701 95,610   24,091
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
16,998      
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
429    
20 Occupancy.............. 13,844 3,461   10,383
21 Travel, conferences, and meetings....... 15,616 3,904   11,712
22 Printing and publications.......... 397 99   298
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
40,057 10,013   30,044
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 502,949 187,064   298,458
25 Contributions, gifts, grants paid....... 1,243,703 1,402,203
26 Total expenses and disbursements. Add lines 24 and 25 1,746,652 187,064   1,700,661
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -117,422
b Net investment income (if negative, enter -0-) 1,320,496
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............. 136,512 83,964 83,964
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.......... 4,687 5,255 5,255
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
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).......... 25,113,034 Click to see attachment
List of Attached Documents:
// Content
27,609,694 		27,609,694
14 Land, buildings, and equipment: basis right arrow18,721
Less: accumulated depreciation (attach schedule) right arrow18,076 1,074 Click to see attachment
List of Attached Documents:
// Content
645 		645
15 Other assets (describe right arrow)   Click to see attachment
List of Attached Documents:
// Content
10,602 		Click to see attachment
List of Attached Documents:
// Content
1,062
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,255,307 27,710,160 27,700,620
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 158,500  
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) Click to see attachment
List of Attached Documents:
// Content
6,338 		 
23 Total liabilities (add lines 17 through 22)......... 164,838 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........... 25,090,469 27,710,160
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 25,090,469 27,710,160
30 Total liabilities and net assets/fund balances (see instructions). 25,255,307 27,710,160
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
25,090,469
2
Enter amount from Part I, line 27a .....................
2
-117,422
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
2,737,113
4
Add lines 1, 2, and 3 ..........................
4
27,710,160
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
27,710,160
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 NORTH SHORE BANK P    
b ULLAND INVESTMENTS P    
c ULLAND INVESTMENTS P    
d AMERICAN HARDBOARD P    
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 5,504,505   4,028,855 1,475,650
b 1,965,683   3,381,905 -1,416,222
c 19,999,081   19,721,809 277,272
d 97,626     97,626
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       1,475,650
b       -1,416,222
c       277,272
d       97,626
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 2 609,486
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 3 277,272
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 18,355
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 18,355
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 18,355
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 27,600
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 27,600
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......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 9,245
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow9,245 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
Yes
 
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 arrowLLOYDKJOHNSONFOUNDATION.ORG
14
The books are in care ofright arrowERIK TORCH Telephone no.right arrow (218) 726-9000

Located atright arrow130 W SUPERIOR ST STE 710DULUTHMN ZIP+4right arrow55802
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)
Yes
 
(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
 
No
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
 
 
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
Yes
 
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
 
No
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
ERIK TORCH EXEC. DIR. M
40.00 		99,455 2,984 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
JOAN GARDNER-GOODNO EXEC. DIR. J
40.00 		57,553 1,727 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
STEPHEN SURBAUGH PRESIDENT
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
SUSAN MICHELS VICE PRESIDE
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
JEFF STODDARD TREASURER
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
CINDY HANSEN DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
RICK SMITH DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
LYNN GOERDT DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
SALAAM WITHERSPOON DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
PETE JERONIMUS DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
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  
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 arrow  
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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
25,636
b
Average of monthly cash balances.......................
1b
26,197,003
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
26,222,639
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
26,222,639
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
393,340
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
25,829,299
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,291,465
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,291,465
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
18,355
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
18,355
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,273,110
4
Recoveries of amounts treated as qualifying distributions................
4
2,000
5
Add lines 3 and 4............................
5
1,275,110
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,275,110
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
1,700,661
b
Program-related investments—total from Part VIII-B..................
1b
 
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
1,700,661
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,275,110
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 65,447
b Total for prior years:20 , 20, 20  
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 ........  
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,700,661
a Applied to 2022, but not more than line 2a 65,447
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 1,275,110
e Remaining amount distributed out of corpus 360,104
5 Excess distributions carryover applied to 2023.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 360,104
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		360,104
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.... 360,104
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:
ERIK TORCH
130 WEST SUPERIOR STREET
SUITE 520
DULUTH,MN55802
(218) 726-9000
bThe form in which applications should be submitted and information and materials they should include:
EMAIL OR CALL FOUNDATION STAFF TO DISCUSS PROPOSED APPLICATION. IF REQUEST FITS GUIDELINES ORGANIZATIONS SUBMIT APPLICATION FOR CONSIDERATION. ADDITIONAL INFORMATION MAY BE REQUESTED BY FOUNDATION.
cAny submission deadlines:
JANUARY 15, APRIL 15, JULY 15, AND OCTOBER 15 OF EACH GRANT YEAR.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION ACCEPTS APPLICATIONS FROM ORGANIZATIONS LOCATED OR PROVIDING SERVICES WITHIN LAKE, COOK, AND SOUTHERN ST. LOUIS COUNTIES IN MINNESOTA. THE FOUNDATION'S AREAS OF INTEREST INCLUDE ARTS AND CULTURE, COMMUNITY AND ECONOMIC DEVELOPMENT, EDUCATION, ENVIRONMENT, AND SOCIAL WELFARE.
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

AMERICAN RED CROSS NORTHLAND CHAPTE

2524 MAPLE GROVE ROAD
DULUTH,MN55811 		  PC HOME FIRE PREVENTION & RESPONSE 10,000

BOYS & GIRLS CLUB OF THE NORTHLAND

120 NORTH 30TH AVENUE WES
DULUTH,MN55806 		  PC SOCIAL WELFARE 20,000

CARE PARTNERS OF COOK COUNTY

PO BOX 282 513 5TH AVE W
STE 106
GRAND MARAIS,MN55604 		  PC GENERAL OPERATIONAL SUPPORT 20,000

COMMUNITY ACTION DULUTH

2424 W 5TH ST
STE 102
DULUTH,MN55806 		  PC MOBILE MARKET 20,000

CONSERVATION CORPS MINNESOTA

60 PLATO BLVD E
STE 210
ST PAUL,MN55107 		  PC SUMMER YOUTH CORPS PROGRAM 15,000

COOK COUNTY HIGHER EDUCATION

300 W 3RD ST
PO BOX 57
GRAND MARAIS,MN55604 		  PC STUDENT SUPPORT SERVICES & SCHOLARSH 70,000

COOK COUNTY HIGHER EDUCATION

300 W 3RD ST
GRAND MARAIS,MN55604 		  PC SCHOLARSHIP & STUDENT SUPPORT SERVIC 15,000

COOK COUNTY HISTORICAL SOCIETY

8 SOUTH BROADWAY
PO BOX 1293
GRAND MARAIS,MN55604 		  PC JOHNSON HERITAGE POST ART GALLERY MO 20,000

COOK COUNTY LOCAL ENERGY PROJECT

PO BOX 143
GRAND MARAIS,MN55604 		  PC RURAL CLIMATE ACTION RESILIENCY LEAD 20,000

DAMIANO OF DULUTH INC

206 WEST 4TH STREET
SUITE 214
DULUTH,MN55806 		  PC COMMUNITY KITCHEN PROGRAM 30,000

DULUTH AREA FAMILY YMCA

302 W 1ST STREET
DULUTH,MN55802 		  PC HABOR HIGHLANDS PROGRAM SUPPORT 20,000

DULUTH ART INSTITUTE ASSOCIATION

506 W MICHIGAN ST 2
DULUTH,MN55802 		  PC SUPPORT TO CONTINUE CORE SERVICES/CL 20,000

DULUTH CHAMBER MUSIC FESTIVAL

2901 W 15TH ST
DULUTH,MN55806 		    DCMF'S 2ND SEASON PERFORMANCES & COM 3,500

DULUTH COMMUNITY GARDEN PROGRAM

206 W 4TH STREET 214
DULUTH,MN55806 		  PC COMMUNITY OUTREACH PROGRAMS 20,000

DULUTH LIBRARY FOUNDATION

520 W SUPERIOR ST
DULUTH,MN55802 		  PC COMMUNITY INFORMED BUILDING REDESIGN 20,000

DULUTH PLAYHOUSE

211 EAST SUPERIOR STREET
DULUTH,MN55802 		  PC ASL INTERPRETER FOR SUMMER INTENSIVE 18,500

DULUTH SUPERIOR SYMPHONY ORCHESTRA

130 WEST SUPERIOR STREET
DULUTH,MN55802 		  PC CELEBRATE UNHEARD VOICES-WOMEN COMPO 15,000

ELAN FINANCIAL SERVICES

200 S 6TH ST
MINNEAPOLIS,MN55402 		  PC SCHOLARSHIPS 294

FAMILY FREEDOM CENTER

301 N 1ST AVE WEST
SUITE 108
DULUTH,MN55806 		  PC GENERAL OPERATING 25,000

FINLAND COMMUNITY NATURE CHILDCARE

PO BOX 579
FINLAND,MN55603 		  PC PROFESSIONAL DEVELOPMENT & YARD IMPR 3,500

FINLAND MINNESOTA HISTORICAL SOCIET

5653 LITTLE MARAIS ROAD
PO BOX 583
FINLAND,MN55603 		  PC OUTDOOR COMMUNITY VENUE UPGRADES 16,000

FOND DU LAC TRIBAL & COMMUNITY COLL

2101 14TH ST
CLOQUET,MN55720 		  PC SCHOLARSHIPS 10,514

FRIENDS OF SILVER BAY PUBLIC LIBRAR

9 DAVIS DR
SILVER BAY,MN55614 		  PC LIBRARY EXPANSION & RENOVATION 25,000

FRIENDS OF THE FINLAND COMMUNITY

PO BOX 582
FINLAND,MN55603 		  PC OUTDOOR OVEN & AWNINGS AT THE CLAIR 38,000

GRAND MARAIS ART COLONY

120 3RD AVE W
PO BOX 626
GRAND MARAIS,MN55604 		  PC CERAMICS STUDIO RENOVATION (PHASE 1) 25,000

GRAND MARAIS PLAYHOUSE INC

PO BOX 996
GRAND MARAIS,MN55604 		  PC GENERAL OPERATING SUPPORT 20,000

GRAND PORTAGE BAND OF LAKE SUPERIOR

83 STEVENS ROAD
GRAND PORTAGE,MN55605 		  PC HISTORY PROJECT, PLAYGROUND, & PILOT 63,500

GREAT EXPECTATIONS FOUNDATION

550 E 5TH STREET
PO BOX 310
GRAND MARAIS,MN55604 		  PC GREAT EXPECTATIONS EXPANSION PROJECT 50,000

GREAT EXPECTATIONS SCHOOL

550 E 5TH ST
BOX 310
GRAND MARAIS,MN55604 		  PC TEACHING HEALTHY BEHAVIORS 10,000

HARBOR CENTERS INC

PO BOX 161318
1105 E SUPERIOR ST
DULUTH,MN55816 		  PC ASSISTANCE FOR PUBLISHING SENIOR & C 3,500

HARBOR CITY INTERNATIONAL SCHOOL

332 W MICHIGAN ST
STE 300
DULUTH,MN55802 		    THEATER LIGHTING NEEDS REPAIR 3,500

HARTLEY NATURE CENTER

3001 WOODLAND AVENUE
DULUTH,MN55803 		  PC STRATEGIC PLANNING 15,000

HOUSING FOR INMATES

PO BOX 161044
DULUTH,MN55816 		  PC START-UP COSTS 3,500

KIDS CLOSET OF DULUTH

2431 W 3RD ST
DULUTH,MN55806 		  PC CLOTHES FOR YOUNG SCHOOL STUDENTS 10,000

KNIFE RIVER HERITAGE & CULTURAL CEN

PO BOX 240
180 MARINA ROAD
KNIFE RIVER,MN55609 		  PC BUILD A SHELTER OVER A COMMERCIAL FI 10,000

LAKE SUPERIOR COLLEGE

2101 TRINITY ROAD
DULUTH,MN55811 		  PC SCHOLARSHIPS 59,032

LAKE SUPERIOR SCHOOL DISTRICT

1640 HIGHWAY 2
TWO HARBORS,MN55616 		  PC MINNEHAHA ARTS & IMAGINATION 5,000

LAKE SUPERIOR YOUTH CHORUS

1200 KENWOOD AVE
DULUTH,MN55811 		  PC GENERAL OPERATING SUPPORT 15,000

LEGAL AID SERVICE OF NORTHEASTERN

424 W SUPERIOR ST
SUITE 302 ORDEAN BUILDING
DULUTH,MN55802 		  PC STRATEGIC PLANNING 10,000

LIBRARY FRIENDS OF COOK COUNTY

PO BOX 1234
DULUTH,MN55604 		  PC AGENCY & AUTHENTICITY IN WORKS OF FI 9,000

LIFE HOUSE INC

102 WEST 1ST STREET
DULUTH,MN55802 		  PC YOUTH OUTREACH & ENGAGEMENT 25,000

LINCOLN PARK CHILDREN AND FAMILIES
COLLABORATIVE
2424 W 5TH STREET
STE 10 108 AND 121
DULUTH,MN55806 		  PC LPCFC CAPITAL CAMPAIGN CONSULTANT 10,000

LOCAL INITIATIVES SUPPORT CORP

SELLWOOD BUILDING 202 W
STE 301
DULUTH,MN55802 		  PC GENERAL OPERATING SUPPORT 25,000

MEN AS PEACEMAKERS

123 W SUPERIOR ST
DULUTH,MN55802 		  PC MAKING EQUAL GENDERS AWESOME PROGRAM 20,000

MENTOR NORTH

206 W 4TH ST
SUITE 203
DULUTH,MN55806 		  PC SUPPORT FOR LEVERAGING COMMUINTY PAR 15,000

MINNESOTA ENVIRONMENTAL PARTNERSHIP

394 LAKE AVE S
SUITE 223
ST PAUL,MN55802 		  PC GET THE LEAD OUT TWO HARBORS 5,000

MINNESOTA LAND TRUST

2356 UNIVERSITY AVE W
SUITE 240
ST PAUL,MN55114 		  PC HEADWATERS PARTNERSHIP COMMUNITY ENG 15,000

MINNESOTA NORTH COLLEGE

1001 CHESTNUT ST
VIRGINIA,MN55792 		  PC SCHOLARSHIPS 11,313

NOATUN COMMUNITY WOODEN BOAT WORKS

1721 E 3RD ST
DULUTH,MN55812 		  PC COMMUNITY WOODEN BOAT BUILDING 10,000

NORTH HOUSE FOLK SCHOOL

PO BOX 759
500 W HIGHWAY 61
GRAND MARAIS,MN55604 		  PC ADVANCING EMERING CRAFT & NONPROFIT 25,000

NORTH SHORE HEALTH CARE FOUNDATION

PO BOX 454
GRAND MARAIS,MN55604 		  PC CAPACITY FOR INCUBATOR PROGRAMS & HE 25,000

NORTH SUPERIOR SKI & RUN CLUB

PO BOX 542
GRAND MARAIS,MN55604 		  PC SUPPORT FOR SKI TEAM & GROOMER REPLA 17,500

NORTHERN EXPRESSIONS ART COLLECTIVE

3403 RESTROMEL STREET
DULUTH,MN55806 		  PC STRATEGIC PLANNING 3,000

NORTHLAND FOUNDATION

202 WEST SUPERIOR STREET
SUITE 610
DULUTH,MN55802 		  PC AGE TO AGE: (RE)BUILDING HEALTHY CON 15,000

NORTHWOODS FOOD PROJECT COOK COUNT

317 W 5TH ST
GRAND MARAIS,MN55604 		  PC TOFTE COMMUNITY GARDEN 10,500

ONE ROOF COMMUNITY HOUSING

12 EAST 4TH STREET
DULUTH,MN55805 		  PC PLOVER PLACE CAPITAL 30,000

PAVSA

32 E 1ST ST
STE 200
DULUTH,MN55802 		  PC MENTAL HEALTH SERVICES & OUTREACH 25,000

PROCTOR PUBLIC SCHOOLS - ISD 710

131 NINTH AVENUE
PROCTOR,MN55810 		  PC CHECK & CONNECT SUPPORT 3,000

PROVE GALLERY

21 N LAKE AVE
DULUTH,MN55802 		  PC WAITING FOR BED EXHIBIT 3,500

ROCKY WALL PRODUCTIONS

5418 ROCKY WALL RD
SILVER BAY,MN55614 		  PC MUSIC IN THE PARK CONCERT SERIES 3,500

SAWTOOTH MOUNTAIN CLINIC

513 5TH AVE W
GRAND MARAIS,MN55604 		  PC EARLY CHILDHOOD CONNECTIONS & ORAL H 62,050

SECOND HARVEST NORTHERN LAKES FOOD

4503 AIRPARK BLVD
DULUTH,MN55811 		    NOURISH THE NORTHLAND CAPITAL CAMPAI 30,000

SILVER BAY BLUE LINE CLUB

PO BOX 147
SILVER BAY,MN55614 		  PC OUTDOOR RECREATION CENTER 10,000

SOAR CAREER SOLUTIONS

205 W 2ND STREET 101
DULUTH,MN55802 		  PC DATABASE UPGRADES 20,000

SUPERIOR HIKING TRAIL ASSOCIATION

PO BOX 315
618 1ST AVE
TWO HARBORS,MN55616 		  PC SHT VOLUNTEERS CLEAR THE PATH FOR A 15,000

THE KAKO FOUNDATION

1225 E 7TH STREET
DULUTH,MN55805 		  PC HIKING IN HARMONY 2,500

TOFTE HISTORICAL SOCIETY

PO BOX 2312
TOFTE,MN55615 		  PC ARCHIVAL STORAGE AT MUSEUM 3,500

TWIN PORTS CHORAL PROJECT

3630 E 4TH ST
DULUTH,MN55804 		  PC 23-24 TWIN PORTS CHORAL SEASON 15,000

TWO HARBORS AREA FOOD SHELF

PO BOX 601
TWO HARBORS,MN55616 		  PC MEETING INCREASING DEMAND 3,500

UNION GOSPEL MISSION

219 E 1ST ST
DULUTH,MN55802 		  PC GENERAL OPERATING FUNDS 15,000

UNIVERSITY OF WISCONSIN - SUPERIOR

PO BOX 2000
SUPERIOR,WI54880 		  PC SCHOLARSHIPS 2,500

VETERAN RESILIENCE PROJECT

PO BOX 27314
MINNEAPOLIS,MN55427 		    EMDR THERAPY OUTREACH TO ALLEVIATE V 10,000

VIOLENCE PREVENTION CENTER

21 W 2ND ST
GRAND MARAIS,MN55604 		  PC CAPACITY BUILDING 25,000

WESTERN LAKE SUPR HABITAT FOR HUMAN

2431 WEST 3RD ST
PO BOX 3190
DULUTH,MN55803 		  PC HOME ADAPTATIONS FOR SAFETY & ACCESS 10,000

WOLF RIDGE ENVIRONMENTAL LEARNING C

6282 CRANBERRY RD
FINLAND,MN55603 		  PC SCIENCE CENTER ROOF 25,000

WORLD PRESS INSTITUTE

3415 UNIVERSITY AVE
ST PAUL,MN55114 		  PC FELLOWS GRAND MARAIS VISIT, COMMUNIT 3,500

WTIP COOK COUNTY COMMUNITY RADIO

PO BOX 1005
GRAND MARAIS,MN55604 		  PC COMMUNITY MEDIA EXPANSION & DEVELOPM 45,000

YWCA DULUTH

32 EAST FIRST ST
SUITE 202
DULUTH,MN55802 		  PC OPERATING SUPPORT 20,000
Total .................................right arrow 3a 1,402,203
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 267  
4 Dividends and interest from securities ....     14 897,807  
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 ............ 		    14 609,486  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPRIOR YEAR GRANT RETURNED 		    41 2,000  
bMISCELLANEOUS REVENUE     1 41  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,509,601  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,509,601
(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
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
LLOYD K JOHNSON FOUNDATION
 
Employer identification number

51-0180842
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
LLOYD K JOHNSON FOUNDATION
  		Employer identification number
51-0180842
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
LLOYD K JOHNSON REVOCABLE TRUST
145 WAVERLY PLACE
 
DULUTH, MN55803

$ 117,360


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
LLOYD K JOHNSON FOUNDATION
  		Employer identification number

51-0180842
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
LLOYD K JOHNSON FOUNDATION
  		Employer identification number

51-0180842
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES 12,920 3,230   9,690

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 DepreciationSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
OFFICE FURNITURE 2007-02-28 2,150 2,150 200DB 7.0000        
OFFICE FURNITURE/HOM 2007-03-01 1,376 1,376 200DB 7.0000        
ART WORK/UNDERWOOD PHOTOS 2007-06-01 300 300 200DB 7.0000        
ART WORK/LIZZARD'S 2007-08-01 201 201 200DB 7.0000        
COMPUTER AND PRINTER 2009-11-18 2,221 2,221 200DB 5.0000        
SHARP COPIER 2011-07-31 3,571 3,571 200DB 7.0000        
OFFICE EQUIPMENT 2013-11-01 928 928 200DB 5.0000        
COMPUTER/DOWNTOWN COMPUTERS 2014-04-30 2,046 2,046 200DB 5.0000        
DOWNTOWN COMPUTERS 2016-02-05 2,199 2,199 200DB 3.0000        
HP PROBOOK 450 2020-04-01 1,764 1,256 200DB 5.0000 203      
HP PROBOOK 430/RACHEL LAPTOP 2020-05-06 1,964 1,399 200DB 5.0000 226      
      1            

TY 2023 InvestmentsOtherSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
NORTH SHORE ACCT EQUITY MUTUAL FUNDS FMV 17,422,244 17,422,244
NORTH SHORE ACCT MONEY MARKET ACCOU FMV 582,908 582,908
ULLAND INVESTMENTS ACCOUNT FMV 9,582,451 9,582,451
NORTH SHORE ACCT ACCRUED INCOME FMV 4,434 4,434
ULLAND ACCT ACCRUED INCOME FMV 17,657 17,657

TY 2023 LandEtcSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
OFFICE FURNITURE & EQUIPMENT 18,721 18,076 645 645


TY 2023 OtherAssetsSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
PREPAID FEDERAL EXCISE TAX   10,602 1,062


TY 2023 OtherExpensesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
DUES & MEMBERSHIPS 2,699 675   2,024
MISCELLANEOUS 3,152 788   2,364
INSURANCE 2,898 724   2,174
PARKING EXPENSE 1,770 442   1,328
PROMOTION & WEBSITE 1,199 300   899
OFFICE & POSTAGE 25,024 6,256   18,768
TELEPHONE EXPENSE 3,290 822   2,468
BANK CHARGES 25 6   19


TY 2023 OtherIncomeSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PRIOR YEAR GRANT RETURNED 2,000    
MISCELLANEOUS REVENUE 41    


TY 2023 OtherIncreasesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Amount
UNREALIZED INVESTMENT GAINS 2,737,113


TY 2023 OtherLiabilitiesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value
FEDERAL EXCISE TAX PAYABLE 6,338  


TY 2023 OtherProfessionalFeesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY & CUSTODIAL 87,580 87,580    
LEGAL 13,147 3,287   9,860
HR CONSULTING 18,699 4,674   14,025
OTHER CONSULTING 275 69   206


TY 2023 TaxesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 16,998