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
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 653067
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DALLAS, TX752653067
A Employer identification number

36-6028029
B Telephone number (see instructions)

(888) 866-3275
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$6,858,102J 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      
4 Dividends and interest from securities... 142,375 142,213  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 67,704
b Gross sales price for all assets on line 6a 396,714
7 Capital gain net income (from Part IV, line 2)... 67,704
8 Net short-term capital gain......... 0
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........ 210,079 209,917  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 45,237 27,142   18,095
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
7,815 0 0 7,815
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,250 750 0 500
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
800     800
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
6,044 1,688   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
15     15
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 61,161 29,580 0 27,225
25 Contributions, gifts, grants paid....... 291,641 291,641
26 Total expenses and disbursements. Add lines 24 and 25 352,802 29,580 0 318,866
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -142,723
b Net investment income (if negative, enter -0-) 180,337
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.............      
2 Savings and temporary cash investments......... 116,487 60,647 60,647
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 2,939,681 Click to see attachment
List of Attached Documents:
// Content
2,762,810 		5,783,673
c Investments—corporate bonds (attach schedule)....... 916,504 Click to see attachment
List of Attached Documents:
// Content
1,011,174 		1,013,782
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)..........     0
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) 3,972,672 3,834,631 6,858,102
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
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........ 3,972,672 3,834,631
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)..... 3,972,672 3,834,631
30 Total liabilities and net assets/fund balances (see instructions). 3,972,672 3,834,631
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
3,972,672
2
Enter amount from Part I, line 27a .....................
2
-142,723
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
5,145
4
Add lines 1, 2, and 3 ..........................
4
3,835,094
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
463
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
3,834,631
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 518. TRUIST FINL CORP   2018-08-17 2023-03-16
b 100000. PHILIP MORRIS INTL INC GLB   2020-01-27 2023-05-10
c 60. NVIDIA CORP COM   2020-01-17 2023-06-07
d 4945.598 COLUMBIA SHORT TERM BOND FUND CL INSTL3   2021-01-14 2023-07-13
e 356.629 COLUMBIA SHORT TERM BOND FUND CL INSTL3   2021-10-05 2023-07-13
50. GOLDMAN SACHS GROUP INC   2018-04-27 2023-07-13
50. LILLY ELI & COMPANY   2017-04-05 2023-07-13
100. LOWES COMPANIES INCORPORATED   2004-07-15 2023-07-13
105. MORGAN STANLEY DEAN WITTER DISCOVER & CO   2022-07-13 2023-07-13
95. MORGAN STANLEY DEAN WITTER DISCOVER & CO   2017-09-11 2023-07-13
40. NVIDIA CORP COM   2020-01-17 2023-07-13
500. VANGUARD SHORT-TERM CORPORATE BOND   2021-01-14 2023-07-13
685. VERIZON COMMUNICATIONS   2016-12-28 2023-07-13
100. YUM BRANDS INC COM   2009-01-26 2023-07-13
300. DEVON ENERGY CORPORATION   2022-02-08 2023-11-09
500. DEVON ENERGY CORPORATION   2021-05-25 2023-11-09
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 16,313   29,441 -13,128
b 100,000   100,000  
c 22,764   3,726 19,038
d 46,637   50,000 -3,363
e 3,363   3,598 -235
16,417   12,003 4,414
22,047   4,325 17,722
23,181   2,606 20,575
9,049   7,858 1,191
8,188   4,289 3,899
17,873   2,484 15,389
37,967   41,590 -3,623
23,690   36,645 -12,955
13,558   1,972 11,586
13,370   15,458 -2,088
22,283   13,015 9,268
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
      14
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       -13,128
b        
c       19,038
d       -3,363
e       -235
      4,414
      17,722
      20,575
      1,191
      3,899
      15,389
      -3,623
      -12,955
      11,586
      -2,088
      9,268
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 67,704
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 2,507
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 2,507
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 2,507
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,848
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,848
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
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 2,341
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow2,341 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$   (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 arrowIL
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 arrowBANK OF AMERICA NA Telephone no.right arrow (888) 866-3275

Located atright arrowPO BOX 653067DALLASTX ZIP+4right arrow752653067
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
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
Yes
 
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
BANK OF AMERICA TRUSTEE
1 		45,237    
PO BOX 653067
DALLAS,TX752653067
THERESA KUECKER CO-TRUSTEE
2 		0    
600 S HALE ST
ALGONA,IA50511
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 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
6,408,149
b
Average of monthly cash balances.......................
1b
82,160
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
6,490,309
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
6,490,309
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
97,355
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
6,392,954
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
319,648
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
319,648
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
2,507
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
2,507
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
317,141
4
Recoveries of amounts treated as qualifying distributions................
4
5,125
5
Add lines 3 and 4............................
5
322,266
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
322,266
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
318,866
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
318,866
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 7 322,266
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 291,064
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 318,866
a Applied to 2022, but not more than line 2a 291,064
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..... 27,802
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		294,464
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
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:
THOMPSON SCHOLARSHIP SELECTION COMM
600 SOUTH HALE
ALGONA,IA50511
(515) 295-7207
bThe form in which applications should be submitted and information and materials they should include:
RESUME OR BIOGRAPHICAL SHEET, TWO RECOMMENDATIONS, A TRANSCRIPT OF HIGH SCHOOL WORK AND A STUDENT AID REPORT
cAny submission deadlines:
FIRST WEEK IN APRIL EACH YEAR
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
SCHOLARSHIP MONEY ONLY TO ALGONA HIGH SCHOOL GRADUATES WORKING TO OBTAIN A HIGHER EDUCATION AT COLLEGES OR UNIVERSITIES IN IOWA
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

N IOWA AREA COMMUNITY COLLEGE

500 COLLEGE DRIVE
MASON CITY,IA50401 		N/A PC SCHOLARSHIPS 9,081

IOWA LAKES COMMUNITY COLLEGE

19 S 7TH STREET
ESTHERVILLE,IA513342234 		N/A PC SCHOLARSHIPS 53,572

IOWA CENTRAL COMMUNITY COLLEGE

ONE TRITON CIR
FORT DODGE,IA50501 		N/A PC SCHOLARSHIPS 28,028

UPPER IOWA UNIVERSITY

605 WASHINGTON STREET
FAYETTE,IA52142 		N/A PC SCHOLARSHIPS 6,416

WALDORF UNIVERSITY

106 S 6TH STREET
FOREST CITY,IA50436 		N/A PC SCHOLARSHIPS 3,500

GRINNELL COLLEGE

1115 8TH AVENUE
GRINNELL,IA50112 		N/A PC UNRESTRICTED GENERAL 6,416

LUTHER COLLEGE

700 COLLEGE DRIVE
DECORAH,IA52101 		N/A PC SCHOLARSHIPS 12,831

KIRKWOOD COMMUNITY COLLEGE

6301 KIRKWOOD BLVD SW
CEDAR RAPIDS,IA52040 		N/A PC SCHOLARSHIPS 13,071

IOWA WESTERN COMMUNITY COLLEGE

2700 COLLEGE ROAD
COUNCIL BLUFFS,IA51503 		N/A PC SCHOLARSHIPS 4,416

NORTHWEST IOWA COMMUNITY COLLEGE

603 W PARK STREET
SHELDON,IA51201 		N/A PC SCHOLARSHIPS 7,081

DES MOINES AREA COMMUNITY COLLEGE

1144 7TH STREET
DES MOINES,IA50314 		N/A PC SCHOLARSHIPS 28,394

MERCY COLLEGE OF HEALTH & SCIENCES

928 6TH AVENUE
DES MOINES,IA50309 		N/A PC SCHOLARSHIPS 12,831

IOWA STATE UNIVERSITY

515 MORRILL ROAD 1350
AMES,IA500112103 		N/A PC SCHOLARSHIPS 38,825

UNIVERSITY OF NORTHERN IOWA

1227 W 27TH STREET
CEDAR FALLS,IA50614 		N/A PC SCHOLARSHIPS 31,104

UNIVERSITY OF IOWA

201 S CLINTON STREET
IOWA CITY,IA52242 		N/A PC SCHOLARSHIPS 33,409

HAWKEYE COMMUNITY COLLEGE

PO BOX 8015
WATERLOO,IA507048015 		N/A PC SCHOLARSHIPS 2,666
Total .................................right arrow 3a 291,641
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 ........... 		         
4 Dividends and interest from securities ....     14 142,375  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 67,704  
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) ..   210,079  
13Total. Add line 12, columns (b), (d), and (e)..................
13
210,079
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE - BOA 1,250 750   500

TY 2023 GeneralExplanationAttachment
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Identifier Return Reference Explanation
FEDERAL FOOTNOTE PART VIII LIST OF OFFICERS AND DIRECTORS THE COMPENSATION SHOWN ON THE RETURN THAT IS PAID TO BANK OF AMERICA, N.A. AS CORPORATE TRUSTEE IS NOT CALCULATED BASED UPON AN HOURLY RATE FOR THE TIME SPENT BY THE TRUSTEE; RATHER, BANK OF AMERICA'S COMPENSATION AS CORPORATE TRUSTEE IS CALCULATED USING A MARKET VALUE FEE SCHEDULE. THE TRUST OFFICER'S TIME SPENT PERFORMING ADMINISTRATIVE RESPONSIBILITIES FOR THIS FOUNDATION AVERAGES ONE HOUR PER WEEK. IN ADDITION, TIME IS SPENT BY OTHER STAFF MEMBERS FOR RECORDKEEPING, INVESTMENT MANAGEMENT, INCOME COLLECTION, RENDERING STATEMENTS AND ACCOUNTINGS, REGULATORY REPORTING, REGULATORY COMPLIANCE, AND TAX SERVICES.

TY 2023 InvestmentsCorpBondsSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Name of Bond End of Year Book Value End of Year Fair Market Value
46625HMN7 JPMORGAN CHASE & CO 99,344 98,450
20030NCR0 COMCAST CORP COMPANY 100,821 99,456
718172BU2 PHILIP MORRIS INTL I    
064159VL7 USD BANK NOVA SCOTIA 50,400 47,387
037833AZ3 APPLE INC GLB 98,780 97,532
14913R2P1 CATERPILLAR FINL SER 94,119 96,803
74456QBR6 PUBLIC SERVICE ELECT 95,008 94,319
61772BAB9 MORGAN STANLEY GLB 90,287 92,178
046353AV0 ASTRAZENECA PLC GLB 89,948 92,099
892331AL3 TOYOTA MOTOR CORP GL 95,796 98,900
91324PCY6 UNITEDHEALTH GROUP I 96,746 96,900
716973AB8 PFIZER INVESTMENT EN 99,925 99,758

TY 2023 InvestmentsCorpStockSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Name of Stock End of Year Book Value End of Year Fair Market Value
464287176 ISHARES TIPS BOND ET 84,574 81,155
464287234 ISHARES MSCI EMERGIN 145,807 176,924
464287465 ISHARES MSCI EAFE 393,291 483,747
464287655 ISHARES TR RUSSELL 2 110,047 422,495
464288513 ISHARES IBOXX$ HIGH 72,702 77,390
78467Y107 SPDR S&P MIDCAP 400 175,209 626,614
03027X100 AMERICAN TOWER REIT 5,036 20,509
166764100 CHEVRON CORP 73,094 108,141
244199105 DEERE CO 23,544 79,974
438516106 HONEYWELL INTL INC D 15,576 62,913
023135106 AMAZON COM INC COM 8,187 121,552
254687106 DISNEY (WALT) CO COM 12,497 36,116
548661107 LOWE'S COMPANIES INC 7,817 66,765
988498101 YUM BRANDS INC 3,943 26,132
609207105 MONDELEZ INTERNATION 16,853 51,425
713448108 PEPSICO INC 15,217 59,444
742718109 PROCTER & GAMBLE CO 18,842 43,962
031162100 AMGEN INC COM 8,913 46,083
478160104 JOHNSON AND JOHNSON 9,806 39,185
46625H100 JPMORGAN CHASE & CO 51,022 150,539
037833100 APPLE INC 26,074 273,393
594918104 MICROSOFT CORP 4,687 248,186
65339F101 NEXTERA ENERGY INC S 8,540 36,444
816851109 SEMPRA 12,638 11,957
02079K305 ALPHABET INC SHS 12,281 111,752
G29183103 EATON CORP PLC 14,796 52,980
666807102 NORTHROP GRUMMAN COR 13,470 23,407
907818108 UNION PACIFIC CORP 22,649 49,124
075887109 BECTON DICKINSON CO 8,990 12,192
532457108 ELI LILLY & CO 18,597 125,328
617446448 MORGAN STANLEY 47,175 97,446
17275R102 CISCO SYSTEMS INC 24,136 37,890
79466L302 SALESFORCE INC 33,331 78,942
92826C839 VISA INC CL A SHRS 32,797 95,028
92343V104 VERIZON COMMUNICATNS    
19765M213 COLUMBIA SHORT TERM 215,307 208,280
G5494J103 LINDE PLC REG SHS    
654106103 NIKE INC CL B 20,992 32,571
002824100 ABBOTT LABS 23,870 44,028
235851102 DANAHER CORP DEL 10,799 27,761
38141G104 GOLDMAN SACHS GROUP 23,804 38,577
11135F101 BROADCOM INC 18,646 89,300
70450Y103 PAYPAL HOLDINGS INC 12,299 10,133
74340W103 PROLOGIS INC 12,324 19,995
191216100 COCA COLA COM 14,765 17,679
22160K105 COSTCO WHOLESALE CRP 21,382 66,008
084670702 BERKSHIRE HATHAWAYIN 25,182 44,583
09247X101 BLACKROCK INC 31,775 60,885
89832Q109 TRUIST FINL CORP    
67066G104 NVIDIA 29,890 247,610
697435105 PALO ALTO NETWORKS I 23,356 88,464
92206C409 VANGUARD SHORT-TERM 111,968 104,450
22822V101 CROWN CASTLE INC SHS 11,559 8,754
502431109 L3HARRIS TECHNOLOGIE 36,055 37,912
64128R608 NEUBERGER BERMAN LON 80,000 88,804
25179M103 DEVON ENERGY CORP NE    
883556102 THERMO FISHER SCIENT 18,535 21,232
91324P102 UNITEDHEALTH GROUP I 32,548 42,118
94106L109 WASTE MANAGEMENT INC 28,447 31,343
110122108 BRISTOL-MYERS SQUIBB 12,592 8,979
126650100 CVS HEALTH CORP 22,217 15,792
58933Y105 MERCK AND CO INC SHS 57,205 73,589
353612559 FRANKLIN FLOATING RA 140,000 138,839
74925K367 ABBEY CAPITAL FUTURE 150,000 121,045
20825C104 CONOCOPHILLIPS 35,557 35,982
G54950103 LINDE PLC NEW 8,173 20,536
92338C103 VERALTO CORP REG SHS 1,425 3,290

TY 2023 LegalFeesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES - CHARITABLE 7,815     7,815


TY 2023 OtherDecreasesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Description Amount
INCOME ADJ 307
ADJ C/V 156


TY 2023 OtherExpensesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE FILING FEE 15 0   15


TY 2023 OtherIncreasesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Description Amount
ROUNDING 20
RECOVERY 5,125


TY 2023 OtherProfessionalFeesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL FEES - CHAR 800     800


TY 2023 TaxesSchedule
Name:
WILLARD E AND ELLA P THOMPSON EDUCATIONAL FUN
EIN:
36-6028029
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX ESTIMATES 4,356 0   0
FOREIGN TAXES ON QUALIFIED FOR 1,335 1,335   0
FOREIGN TAXES ON NONQUALIFIED 353 353   0