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
WILLIAM N AND JANICE V GODFREY
FAMILY FOUNDATION TRUST
Number and street (or P.O. box number if mail is not delivered to street address)11317 N BOBOLINK LANE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MEQUON, WI53092
A Employer identification number

46-6173383
B Telephone number (see instructions)

(414) 477-0300
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$6,393,862J 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 36,973 5,048  
4 Dividends and interest from securities... 99,370 99,370  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 170,254
b Gross sales price for all assets on line 6a 2,120,571
7 Capital gain net income (from Part IV, line 2)... 170,254
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
39,141 39,141  
12 Total. Add lines 1 through 11........ 345,738 313,813  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 42,608 25,565   17,043
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,605 4,605   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
39,390 39,390   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
4,637 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 91,240 69,560   17,043
25 Contributions, gifts, grants paid....... 299,500 299,500
26 Total expenses and disbursements. Add lines 24 and 25 390,740 69,560   316,543
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -45,002
b Net investment income (if negative, enter -0-) 244,253
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............. 135,243 85,519 85,519
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.......... 7,120 5,897 5,897
10a Investments—U.S. and state government obligations (attach schedule) 1,604,226 Click to see attachment
List of Attached Documents:
// Content
1,637,129 		1,581,837
b Investments—corporate stock (attach schedule)....... 688,464 Click to see attachment
List of Attached Documents:
// Content
559,468 		1,283,615
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).......... 2,748,775 Click to see attachment
List of Attached Documents:
// Content
2,850,813 		3,436,994
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) 5,183,828 5,138,826 6,393,862
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 354,104 354,104
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 4,829,724 4,784,722
29 Total net assets or fund balances (see instructions)..... 5,183,828 5,138,826
30 Total liabilities and net assets/fund balances (see instructions). 5,183,828 5,138,826
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
5,183,828
2
Enter amount from Part I, line 27a .....................
2
-45,002
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
5,138,826
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,138,826
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,118,204   1,950,317 167,887
b 2,367     2,367
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       167,887
b       2,367
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 170,254
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 3,395
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 3,395
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 3,395
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 5,897
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 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,897
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 2,502
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow2,502 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowWI
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowWILLIAM H FRAZIER Telephone no.right arrow (414) 225-1408

Located atright arrow11317 N BOBOLINK LANEMEQUONWI ZIP+4right arrow53092
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)
 
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
WILLIAM FRAZIER TRUSTEE
4.00 		42,608 0 0
11317 N BOBOLINK LANE
MEQUON,WI53092
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
5,685,460
b
Average of monthly cash balances.......................
1b
145,599
c
Fair market value of all other assets (see instructions)................
1c
412,679
d
Total (add lines 1a, b, and c).........................
1d
6,243,738
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
6,243,738
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
93,656
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
6,150,082
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
307,504
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
307,504
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
3,395
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
3,395
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
304,109
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
304,109
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
304,109
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
316,543
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
316,543
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 7 304,109
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 299,050
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 316,543
a Applied to 2022, but not more than line 2a 299,050
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..... 17,493
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 .......... 		286,616
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ABOVE THE CLOUDS

2432 N TEUTONIA AVE UNIT 2
MILWAUKEE,WI53206 		NONE PC UNRESTRICTED 2,000

ARTISTS WORKING IN EDUCATION

4315 W VLIET STREET
MILWAUKEE,WI53208 		NONE PC UNRESTRICTED 2,000

BASICS IN MILWAUKEE INC

2224 W KILBOURN AVE
MILWAUKEE,WI53233 		NONE PC UNRESTRICTED 10,000

BROOM TREE MINISTRY

PO BOX 180681
DELAFIELD,WI53018 		NONE PC UNRESTRICTED 10,000

CHRISTIAN BROADCAST NETWORK

977 CENTERVILLE TURNPIKE
VIRGINIA BEACH,VA23463 		NONE PC UNRESTRICTED 10,000

DISCOVERY WORLD

500 N HARBOR DRIVE
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 2,000

ELMBROOK CHURCH

777 S BARKER ROAD
BROOKFIELD,WI53045 		NONE PC UNRESTRICTED 10,000

ELMBROOK CHURCH MISSIONS

777 S BARKER ROAD
BROOKFIELD,WI53045 		NONE PC UNRESTRICTED 5,000

ETHNOS 360

915 N HARTWELL AVE
WAUKESHA,WI53186 		NONE PC UNRESTRICTED 10,000

EVANGELICAL CHILD AND FAMILY AGENCY

1617 S 124TH STREET
NEW BERLIN,WI53151 		NONE PC UNRESTRICTED 2,500

FAMILY PROMISE OF OZAUKEE COUNTY

PO BOX 499
PORT WASHINGTON,WI53074 		NONE PC UNRESTRICTED 30,000

FIRST STAGE

325 W WALNUT ST
MILWAUKEE,WI53212 		NONE PC UNRESTRICTED 5,000

FISHER HOUSE WISCONSIN

5000 W NATIONAL AVENUE
MILWAUKEE,WI53295 		NONE PC UNRESTRICTED 5,000

HABITAT FOR HUMANTY

3276 N BOOTH STREET
MILWAUKEE,WI53212 		NONE PC UNRESTRICTED 10,000

INNER BEAUTY CENTER

1300 S LAYTON BLVD
MILWAUKEE,WI53215 		NONE PC UNRESTRICTED 5,000

INTERCHANGE FOOD PANTRY

130 E JUNEAU
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 10,000

KIDS MATTER INC

1850 N DR MARTIN LUTHER KING DRIVE
202
MILWAUKEE,WI53212 		NONE PC UNRESTRICTED 2,000

LIGHTHOUSE YOUTH CENTER

5641 N 68TH STREET
MILWAUKEE,WI53218 		NONE PC UNRESTRICTED 2,000

MIAMI UNIVERSITY

501 E HIGH STREET
OXFORD,OH45056 		NONE PC UNRESTRICTED 3,500

MILWAUKEE ART MUSEUM

700 N ART MUSEUM DRIVE
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 10,000

MILWAUKEE COLLEGE PREP

2449 NORTH 36TH STREET
MILWAUKEE,WI53210 		NONE PC UNRESTRICTED 5,000

MILWAUKEE PUBLIC MUSEUM

800 WEST WELLS STREET
MILWAUKEE,WI53233 		NONE PC UNRESTRICTED 5,000

MILWAUKEE REPERTORY THEATER

108 EAST WELLS STREET
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 10,000

MILWAUKEE SYMPHONY ORCHESTRA

1101 N MARKET STREET SUITE 100
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 10,000

MILWAUKEE YOUTH SYMPHONY

325 WEST WALNUT STREET
MILWAUKEE,WI53212 		NONE PC UNRESTRICTED 10,000

NEXT ACT THEATER

255 S WATER STREET
MILWAUKEE,WI53204 		NONE PC UNRESTRICTED 5,000

NEXT DOOR FOUNDATION

2545 NORTH 29TH STREET
MILWAUKEE,WI53210 		NONE PC UNRESTRICTED 5,000

OUR NEXT GENERATION

3421 WEST LISBON AVENUE
MILWAUKEE,WI53208 		NONE PC UNRESTRICTED 5,000

PRESBYTERIAN HOMES & SERVICES FOUNDATION

2845 HAMLINE AVENUE N
ROSEVILLE,MN55113 		NONE PC UNRESTRICTED 20,000

OZAUKEE FOOD ALLIANCE

166 W DEKORA STREET
SAUKVILLE,WI53080 		NONE PC UNRESTRICTED 10,000

TELLING THE TRUTH

309 N WATER STREET SUITE 425
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 5,000

THE BOYNTON SOCIETY

711 E BOLDT WAY
APPLETON,WI549115690 		NONE PC UNRESTRICTED 3,500

THE CATHEDRAL CENTER

845 N VAN BUREN ST
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 30,000

THE PARK PEOPLE OF MILWAUKEE COUNTY

1845 NORTH FARWELL SUITE 100
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 3,000

TIPPECANOE PRESBYTERIAN CHURCH

125 WEST SAVELAND AVENUE
MILWAUKEE,WI53207 		NONE PC UNRESTRICTED 15,000

WAR MEMORIAL CENTER

750 N LINCOLN MEMORIAL DR
MILWAUKEE,WI53202 		NONE PC UNRESTRICTED 2,000

YMCA OF GREATER WAUKESHA COUNTY

320 E BROADWAY
WAUKESHA,WI53186 		NONE PC UNRESTRICTED 10,000
Total .................................right arrow 3a 299,500
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 36,973  
4 Dividends and interest from securities ....     14 99,370  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 39,141  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    14 170,254  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 345,738 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
345,738
(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:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 4,605 4,605   0

TY 2023 InvestmentsCorpStockSchedule
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Name of Stock End of Year Book Value End of Year Fair Market Value
203 SHARES OF ABBOTT LABS 14,814 22,344
31 SHARES OF ADOBE INC 8,621 18,495
163 SHARES OF ADVANCED MICRO DEVICES INC COM 12,964 24,028
568 SHARES OF ALPHABET INC CL A 14,233 79,344
311 SHARES OF AMAZON.COM INC 8,294 47,253
69 SHARES OF AMERICAN EXPRESS CO 6,825 12,926
354 SHARES OF APPLE INC 6,100 68,156
108 SHARES OF APPLIED MATERIALS INC 1,605 17,504
6 SHARES OF AUTOZONE INC COM 13,076 15,514
59 SHARES OF BERKSHIRE HATHAWAY INC DEL CL B NEW 18,090 21,043
19 SHARES OF BLACKROCK INC CL A 6,086 15,424
293 SHARES OF BOSTON SCIENTIFIC CORP 8,032 16,938
511 SHARES OF CSX CORP COM 13,687 17,716
57 SHARES OF CATERPILLAR INS COM 11,609 16,853
159 SHARES OF CHEVRON CORPORATION 13,723 23,716
5 SHARES OF CHIPOTLE MEXICAN GRILL INC COM 7,678 11,435
206 SHARES OF COCA COLA CO COM 12,782 12,140
281 SHARES OF COMCAST CORP-CL A 10,245 12,322
177 SHARES OF CONOCOPHILLIPS COM 11,101 20,544
55 SHARES OF CONSTELLATION BRANDS INC CL A 10,587 13,296
43 SHARES OF COSTCO WHOLESALE CORP NEW COM 13,168 28,383
64 SHARES OF DANAHER CORP 3,177 14,806
28 SHARES OF DEERE & CO 2,351 11,196
169 SHARES OF EDWARDS LIFESCIENCES CORP COM 15,081 12,886
42 SHARES OF ELEVANCE HEALTH INC COM 12,487 19,806
100 SHARES OF EMERSON ELECTRIC CO COM 9,987 9,733
146 SHARES OF META PLATFORMS INC CL A 17,909 51,678
86 SHARES OF FISERV INC COM 8,580 11,424
36 SHARES OF GOLDMAN SACHS GROUP INC COM 10,839 13,888
82 SHARES OF HILTON WORLDWIDE HLDGS INC COM NEW 9,133 14,931
57 SHARES OF HOME DEPOT INC 10,814 19,753
53 SHARES OF HONEYWELL INTERNATIONAL INC 4,832 11,115
152 SHARES OF INTERCONTINENTAL EXCHANGE 11,704 19,521
164 SHARES OF JP MORGAN CHASE & CO 10,359 27,896
30 SHARES OF KLA CORP COM 12,074 17,439
21 SHARES OF LAM RESEARCH CORP 3,752 16,448
23 SHARES OF LILLY ELI & CO COM 13,560 13,407
65 SHARES OF MASTERCARD INC CL A 5,086 27,723
268 SHARES OF MICROSOFT CORP 11,795 100,779
106 SHARES OF NIKE INC-CLASS B 3,980 11,508
109 SHARES OF NVIDIA CORP 4,291 53,979
41 SHARES OF PALO ALTO NETWORKS INC COM 10,361 12,090
64 SHARES OF PEPSICO INC 5,065 10,870
109 SHARES OF PROCTER & GAMBLE CO 9,341 15,973
178 SHARES RAYTHEON TECHNOLOGIES CORP COM 12,146 14,977
49 SHARES OF S&P GLOBAL INC COM 13,151 21,585
105 SHARES OF SALESFORCE.COM 7,886 27,630
54 SHARES OF SHERWIN WILLIAMS CO COM 15,734 16,843
167 SHARES OF STARBUCKS CORP 11,098 16,034
102 SHARES OF T-MOBILE US INC COM 12,798 16,354
85 SHARES OF TEXAS INSTRUMENTS INC 3,700 14,489
34 SHARES OF THERMO FISHER SCIENTIFIC INC 7,059 18,047
49 SHARES OF UNION PAC CORP 4,165 12,035
63 SHARES OF UNITEDHEALTH GROUP INC 6,740 33,168
99 SHARES OF VALERO ENERGY CORP 6,208 12,870
106 SHARES OF VISA INC CL A 17,932 27,597
90 SHARES OF ZOETIS INC CL A 10,973 17,763

TY 2023 InvestmentsGovtObligationsSch
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
US Government Securities - End of Year Book Value:

0
US Government Securities - End of Year Fair Market Value:

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


1,637,129
State & Local Government Securities - End of Year Fair Market Value:


1,581,837


TY 2023 InvestmentsOtherSchedule2
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ANNUITY AT COST 375,193 375,193
2,119.0490 SHARES OF FRANKLIN SMALL-CAP VALUE FD ADVISOR CLASS AT COST 107,919 122,290
12,640.3180 SHARES OF GS INTL SM CAP INSIGHTS-INST AT COST 128,046 153,833
22,589.3260 SHARES OF PIMCO INCOME FUND CLASS I-2 AT COST 236,244 239,899
21,189.0470 SHARES OF PIMCO PLUS STRATEGY FUND CLASS I-2 AT COST 130,605 137,305
7,729.3670 SHARES OF PGIM SHORT-TERM CORPORATE BCND FUND CLASS Z AT COST 80,537 81,081
2,029.0000 SHARES OF ISHARES OF INC MSCO EUROZONE ETF AT COST 71,041 96,256
2 SHARES OF ISHARES CORE US AGGREGATE BD ETF AT COST 219 199
1219 SHARES OF ISHARES CORE S&P SMALL-CAP ETF AT COST 63,378 131,957
7512 ISHARES TR CORE MSCI EAFE ETF AT COST 337,073 528,469
3490 ISHARES INC CORE MSCI EMERGING MKTS ETF AT COST 141,397 176,524
194 SHARES SPDR S&P MIDCAP 400 ETF TR UNIT SER 1 STANDARD & POORS DEP AT COST 89,131 98,432
8563 SHARES SCHWAB STRATEGIC TR US REIT ETF AT COST 154,004 177,340
7838 SHARES VANGUARD BD INDEX FDS VANGUARD TOTAL BD MARKET ETF AT COST 545,844 576,485
86 SHARES OF VANGUARD WORLD FDS MATERIALS ETF AT COST 9,992 16,335
127 SHARES OF VANGUARD WORLD UTILITIES ETF AT COST 15,745 17,408
446 SHARES OF VANGUARD REAL ESTATE ETF AT COST 27,810 39,409
1584 SHARES VANGUARD INDEX FDS VANGUARD MID-CAP ETF AT COST 240,592 368,502
3,507.7910 SHARES OF FIDELITY ADVISOR FOCUS EMERGING MARKETS FUND CLASS I AT COST 96,043 100,077

TY 2023 OtherIncomeSchedule2
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
NORTHWESTERN MUTUAL ANNUITY 39,141 39,141 39,141


TY 2023 OtherProfessionalFeesSchedule
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISOR FEES 39,390 39,390   0


TY 2023 TaxesSchedule
Name:
WILLIAM N AND JANICE V GODFREY
 
FAMILY FOUNDATION TRUST
EIN:
46-6173383
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 1,223 0   0
FOREIGN TAXES 3,414 0   0