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
JA WEDUM FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)TWO CARLSON PARKWAY NORTH 335
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PLYMOUTH, MN55447
A Employer identification number

41-6025661
B Telephone number (see instructions)

(612) 789-3363
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$172,585,135J 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) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,519,031 1,519,031  
5a Gross rents............ 75,000 75,000  
b Net rental income or (loss) 75,000
6a Net gain or (loss) from sale of assets not on line 10 2,103,735
b Gross sales price for all assets on line 6a 36,643,362
7 Capital gain net income (from Part IV, line 2)... 2,103,735
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
29,247,272 0 29,247,272
12 Total. Add lines 1 through 11........ 32,945,038 3,697,766 29,247,272
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 459,946 4,267 227,840 227,840
14 Other employee salaries and wages...... 197,110 4,007 96,551 96,551
15 Pension plans, employee benefits....... 45,260 0 22,630 22,630
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
3,718 0 3,718 0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
18,456 9,228 9,228 0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
57,166 45,166 12,000 0
17 Interest............... 2,002,052 0 2,002,052 0
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion... 2,881,181 0 2,881,181
20 Occupancy.............. 15,732,771 0 15,732,771 0
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,952,624 0 4,865,391 87,233
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 26,350,284 62,668 25,853,362 434,254
25 Contributions, gifts, grants paid....... 2,714,119 1,399,119
26 Total expenses and disbursements. Add lines 24 and 25 29,064,403 62,668 25,853,362 1,833,373
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,880,635
b Net investment income (if negative, enter -0-) 3,635,098
c Adjusted net income (if negative, enter -0-)... 3,393,910
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......... 22,445,400 29,909,626 29,909,626
3 Accounts receivable right arrow719,211
Less: allowance for doubtful accounts right arrow   897,110 719,211 719,211
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 arrow7,030,000
Less: allowance for doubtful accounts right arrow0 7,030,000 7,030,000 7,030,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 119,506 122,896 122,896
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 31,461,872 Click to see attachment
List of Attached Documents:
// Content
28,784,193 		37,100,066
c Investments—corporate bonds (attach schedule)....... 219,198 Click to see attachment
List of Attached Documents:
// Content
234,480 		238,326
11 Investments—land, buildings, and equipment: basis right arrow24,258
Less: accumulated depreciation (attach schedule) right arrow   24,258 24,258 24,258
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow120,294,321
Less: accumulated depreciation (attach schedule) right arrow33,848,450 81,177,858 86,445,871 86,445,871
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
7,564,292 		Click to see attachment
List of Attached Documents:
// Content
10,994,881 		Click to see attachment
List of Attached Documents:
// Content
10,994,881
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 150,939,494 164,265,416 172,585,135
Liabilities 17 Accounts payable and accrued expenses.......... 7,818,059 3,687,632
18 Grants payable.................   1,315,000
19 Deferred revenue................. 222,298 356,377
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 55,445,730 67,276,887
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
937,012 		Click to see attachment
List of Attached Documents:
// Content
923,747
23 Total liabilities (add lines 17 through 22)......... 64,423,099 73,559,643
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........... 85,630,786 89,726,609
25 Net assets with donor restrictions............ 885,609 979,164
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 86,516,395 90,705,773
30 Total liabilities and net assets/fund balances (see instructions). 150,939,494 164,265,416
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
86,516,395
2
Enter amount from Part I, line 27a .....................
2
3,880,635
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
308,743
4
Add lines 1, 2, and 3 ..........................
4
90,705,773
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
90,705,773
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 2023-01-01 2023-12-31
b SALE OF FIXED ASSETS 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 36,642,550   34,539,627 2,102,923
b 812     812
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       2,102,923
b       812
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 2,103,735
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 50,528
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 50,528
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 50,528
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 64,492
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 79,492
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 28,964
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow28,964 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 arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
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 arrowWWW.WEDUMFOUNDATION.ORG
14
The books are in care ofright arrowJAY PORTZ Telephone no.right arrow (612) 789-3363

Located atright arrowTWO CARLSON PARKWAY NORTH STE 335PLYMOUTHMN ZIP+4right arrow55447
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
BRIAN MYRES CHAIR
2.00 		19,250 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
DAVID KJOS TREASURER
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
DANA WEDUM KENNELLY TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
DAWN DOWNS TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
DAYTON SOBY SECRETARY
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
MICHELE KELM HELGEN TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
JON DAVIS TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
JAY PORTZ PRESIDENT
40.00 		426,969 20,494 4,474
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
THOMAS WOESSNER TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
BOB KOVELL TRUSTEE
1.00 		1,750 0 0
TWO CARLSON PARKWAY NORTH SUITE 335
PLYMOUTH,MN55447
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
KELLIE TESCH ASSISTANT VP
40.00 		200,372 10,905 0
TWO CARLSON PARKWAY NORTH STE 335
PLYMOUTH,MN55447
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
GREAT LAKES MANAGEMENT COMPANY MANAGEMENT SERVICES 466,050
12755 HWY 55 SUITE 125
PLYMOUTH,MN55441
PHS MANAGEMENT LLC MANAGEMENT SERVICES 432,346
2845 HAMLINE AVENUE N SUITE 200
ROSEVILLE,MN55113
SILVERCREST PROPERTIES MANAGEMENT SERVICES 398,678
5402 PARKDALE DR 310
ST LOUIS PARK,MN55416
EJ PLESKO & ASSOCIATES INC MANAGEMENT SERVICES 213,519
6515 GRAND TETON PLAZA UNIT 300
MADISON,WI53719
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 QUALITY HOUSING FOR SENIORS, PROVIDES EDUCATION SUPPORT TO FUTURE GENERATIONS AND IMPACTS COMMUNITIES THROUGH THEIR CHARITABLE GIVING. 25,853,362
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
35,871,390
b
Average of monthly cash balances.......................
1b
20,195,384
c
Fair market value of all other assets (see instructions)................
1c
24,258
d
Total (add lines 1a, b, and c).........................
1d
56,091,032
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
56,091,032
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
841,365
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
55,249,667
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,762,483
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
2,762,483
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
50,528
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
50,528
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,711,955
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,711,955
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
2,711,955
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,833,373
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
3,779,165
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
5,612,538
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 2,711,955
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 1,796,831
b From 2019...... 13,143,171
c From 2020...... 828,878
d From 2021...... 1,693,268
e From 2022...... 16,455,447
f Total of lines 3a through e ........ 33,917,595
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 5,612,538
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 2,711,955
e Remaining amount distributed out of corpus 2,900,583
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 36,818,178
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		1,796,831
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		35,021,347
10 Analysis of line 9:
a Excess from 2019.... 13,143,171
b Excess from 2020.... 828,878
c Excess from 2021.... 1,693,268
d Excess from 2022.... 16,455,447
e Excess from 2023.... 2,900,583
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:
JAY PORTZ
TWO CARLSON PARKWAY NORTH STE 335
PLYMOUTH,MN55447
(612) 789-3363
bThe form in which applications should be submitted and information and materials they should include:
RESUME OF ACADEMIC QUALIFICATIONS OR STANDARD GRANT APPLICATION
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
PREFERENCE IS GIVEN TO GEOGRAPHICAL MARKETS WHERE THE FOUNDATION OPERATES AND OWNS REAL ESTATE.
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

AAHS DECA BOOSTER CLUB

1210 BROADWAY STREET
ALEXANDRIA,MN56308 		  PC GENERAL OPERATING 5,000

ALEXANDRIA TECHNICAL COLLEGE FOUNDATION

1601 JEFFERSON
ALEXANDRIA,MN56308 		  PC GENERAL OPERATING 5,000

ALEXANDRIA TECHNICAL COLLEGE FOUNDATION

1601 JEFFERSON
ALEXANDRIA,MN56308 		  PC BUILDING CAPITAL CAMPAIGN 500,000

ALEXANDRIA TECHNICAL COLLEGE FOUNDATION

1601 JEFFERSON
ALEXANDRIA,MN56308 		  PC GENERAL OPERATING 60,000

ALEXANDRIA TECHNICAL COLLEGE FOUNDATION

1601 JEFFERSON
ALEXANDRIA,MN56308 		  PC BUILDING CAPITAL CAMPAIGN 185,000

ALLINA ASSOCIATED FOUNDATION

2925 CHICAGO AVENUE SOUTH
MINNEAPOLIS,MN55407 		  PC GENERAL OPERATING 20,000

ALLINA ASSOCIATED FOUNDATION

2925 CHICAGO AVENUE SOUTH
MINNEAPOLIS,MN55407 		  PC GENERAL OPERATING 37,220

ALZHEIMER'S ASSOCIATION

C/O ROCHESTER WALK TO END ALZHEIMER
MINNEAPOLIS,MN55439 		  PC GENERAL OPERATING 2,500

AMHERST H WILDER FOUNDATION

451 LEXINGTON PARKWAY N
ST PAUL,MN55014 		  PC GENERAL OPERATING 5,000

ANGEL FOUNDATION

1155 CENTRE POINTE SUITE 7
MENDOTA HEIGHTS,MN55120 		  PC GENERAL OPERATING 2,000

BELGRADE-BROOTEN-ELROSA HIGH SCHOOL

710 WASHBURN AVENUE PO BOX 339
BELGRADE,MN56312 		  GOV GENERAL OPERATING 312

BELGRADE-BROOTEN-ELROSA HIGH SCHOOL

710 WASHBURN AVENUE PO BOX 339
BELGRADE,MN56312 		  GOV GENERAL OPERATING 7,289

BELGRADE-BROOTEN-ELROSA HIGH SCHOOL

710 WASHBURN AVENUE PO BOX 339
BELGRADE,MN56312 		  GOV GENERAL OPERATING 4,298

BELGRADE-BROOTEN-ELROSA HIGH SCHOOL

710 WASHBURN AVENUE PO BOX 339
BELGRADE,MN56312 		  GOV GENERAL OPERATING 42,336

BELGRADE-BROOTEN-ELROSA HIGH SCHOOL

710 WASHBURN AVENUE PO BOX 339
BELGRADE,MN56312 		  GOV GENERAL OPERATING 7,664

BLAINE COUNTY HUNGER COALITION

110 HONEYSUCKLE ST
BELLEVUE,ID83313 		  PC GENERAL OPERATING 2,000

BOLDER OPTIONS

2100 STEVENS AVENUE
MINNEAPOLIS,MN55404 		  PC GENERAL OPERATING 20,000

CAMP RAINBOW GOLD INC

216 W JEFFERSON STREET
BOISE,ID83702 		  PC GENERAL OPERATING 3,000

CARDMEMBER SERVICES (DONATION TO YOUTH FIRST)

PO BOX 790408
ST LOUIS,MO631790408 		  PC GENERAL OPERATING 2,500

CARLOS PAC

C/O CARLOS ELEMENTARY SCHOOL
CARLOS,MN58319 		  PC GENERAL OPERATING 15,000

CATHOLIC CHARITIES OF THE ARCHDIOCESE OF

MINNEAPOLIS ST PUAL
MINNEAPOLIS,MN55404 		  PC GENERAL OPERATING 5,000

CENTRAL MINNESOTA COMMUNITY FOUNDATION

101 7TH AVE SOUTH
ST CLOUD,MN56301 		  PC GENERAL OPERATING 20,000

CENTRAL MINNESOTA UNITED WAY

921 1ST STREET N SUITE 200
ST CLOUD,MN56303 		  PC GENERAL OPERATING 10,000

CHANNEL ONE REGIONAL FOOD BANK

131 35TH STREET SE
ROCHESTER,MN55904 		  PC GENERAL OPERATING 10,000

CHILDRENS CANCER CONNECTION

5701 GREENDALE ROAD
JOHNSON,IA50131 		  PC GENERAL OPERATING 3,000

COMMUNITY EMERGENCY SERVICE

1900 11TH AVENUE SOUTH
MINNEAPOLIS,MN55404 		  PC GENERAL OPERATING 5,000

CZECH AND SLOVAK SOKOL MINNESOTA

383 MICHIGAN STREET
ST PAUL,MN55102 		  PC GENERAL OPERATING 7,500

DISTRICT 742 LEAF

C/O BRUCE HENTGES
ST CLOUD,MN56301 		  PC GENERAL OPERATING 1,000

ELDER NETWORK

1130 1/2 7TH STREET NW
ROCHESTER,MN55901 		  PC GENERAL OPERATING 2,000

ELDER NETWORK - ROCHESTER

1130 1/2 7TH ST NW SUITE 205
ROCHSTER,MN55901 		  PC GENERAL OPERATING 3,000

EVERY MEAL

2723 PATTON ROAD
ROSEVILLE,MN55113 		  PC GENERAL OPERATING 10,000

FEEDING OUR COMMUNITIES PARTNERS

2120 HOWARD DRIVE WEST
NORTH MANKATO,MN56003 		  PC GENERAL OPERATING 10,000

FINANCIAL PURPOSE INC

15790 SKYLINE AVENUE NW
PRIOR LAKE,MN55372 		  PC GENERAL OPERATING 5,000

FRIENDS OF THE ROCHESTER PUBLIC LIBRARY

101 2ND STREET SE
ROCHESTER,MN55904 		  PC GENERAL OPERATING 7,625

GREATER NICOLLET AREA COMMUNITY

FOUNDATION
NICOLLET,MN56074 		  PC GENERAL OPERATING 5,000

GREATER RANDOLPH AREA SERVICES PROGRAM

250 DONALAN DR
CONVERSE,MN78109 		  PC GENERAL OPERATING 5,000

GREATER ST CLOUD PUBLIC SAFETY FOUNDATION

101 11TH AVE NORTH
ST CLOUD,MN56303 		  PC GENERAL OPERATING 20,000

GREATER ST CLOUD DEVELOPMENT CORPORATION

501 W ST GERMAIN STREET
ST CLOUD,MN56301 		  PC GENERAL OPERATING 10,000

GUILD

122 WABASHA ST SOUTH
ST PAUL,MN55107 		  PC GENERAL OPERATING 5,000

HARMON KILLEBREW-DANNY THOMPSON MEMORIAL

CANCER FOUNDATION INC
SUN VALLEY,ID83535 		  PC GENERAL OPERATING 3,000

HENNEPIN THEATRE TRUST

900 HENNEPI AVENUE
MINNEAPOLIS,MN55403 		  PC GENERAL OPERATING 15,000

HOPE ACADEMY

2300 CHICAGO AVE
MINNEAPOLIS,MN554043834 		  PC GENERAL OPERATING 8,900

HOPE ACADEMY

2300 CHICAGO AVE
MINNEAPOLIS,MN554043834 		  PC GENERAL OPERATING 5,000

HOPE ACADEMY

2300 CHICAGO AVE
MINNEAPOLIS,MN554043834 		  PC GENERAL OPERATING 5,000

HOPE ACADEMY

2300 CHICAGO AVE
MINNEAPOLIS,MN554043834 		  PC GENERAL OPERATING 5,000

HOPE ACADEMY

2300 CHICAGO AVE
MINNEAPOLIS,MN554043834 		  PC GENERAL OPERATING 9,000

JERICHO ROAD MINISTRIES

1628 EAST 33RD STREET
MINNEAPOLIS,MN55407 		  PC GENERAL OPERATING 5,000

JOSEPH'S COAT

1107 W 7TH STREET
ST PAUL,MN55102 		  PC GENERAL OPERATING 5,000

JUNIOR ACHIEVEMENT NORTH

1745 UNIVERSITY AVENUE WEST
ST PAUL,MN55104 		  PC GENERAL OPERATING 3,750

LEVEL GROUND

155 FIRST AVENUE NE
LAPORTE,MN56461 		  PC GENERAL OPERATING 3,000

LITTLE SISTERS OF THE POOR

339 EXCHANGE ST SOUTH
ST PAUL,MN55102 		  PC GENERAL OPERATING 6,000

LUTHERAN SOCIAL SERVICE OF MINNESOTA

2485 COMO AVENUE
ST PAUL,MN55108 		  PC GENERAL OPERATING 10,000

MORGANS WONDERLAND CAMP

5210 THOUSAND OAKS DR
SAN ANTONIO,TX78233 		  PC GENERAL OPERATING 5,000

OPTIONS

16820 197TH AVE NW
BIG LAKE,MN55309 		  PC GENERAL OPERATING 2,000

ORPHAN'S HOPE

2570 NE NOBLE LOOP
EAST WENATCHEE,WA98802 		  PC GENERAL OPERATING 10,000

OUR LADY OF PEACE

2076 ST ANTHLY AVE
ST PAUL,MN55104 		  PC GENERAL OPERATING 5,000

PAWSITIVITY SERVICE DOGS

197 GRIGGS ST N
ST PAUL,MN55104 		  PC GENERAL OPERATING 5,000

PINKY SWEAR FOUNDATION

5555 78TH STREET WEST SUITE E
EDINA,MN55439 		  PC GENERAL OPERATING 5,000

PINKY SWEAR FOUNDATION

5555 78TH STREET WEST SUITE E
EDINA,MN55439 		  PC GENERAL OPERATING 5,750

PROJECT SUCCEED

PO BOX 1142
TWIN FALLS,ID83301 		  PC GENERAL OPERATING 2,000

ROCHESTER AREA CHAMBER OF COMMERCE

220 BROADWAY AVENUE S
ROCHESTER,MN55904 		  PC GENERAL OPERATING 2,375

SAMARITAN PURSE

C/O OPERATION CHRISTMAS CHILD
BOONE,NC28607 		  PC GENERAL OPERATING 2,500

SENIOR CITIZENS SERIVCE INC

DBA 125 LIVE
ROCHESTER,MN55901 		  PC GENERAL OPERATING 2,500

SOPHIE'S SQUAD

6371 RED HAWK TRAIL
LINO LAKES,MN55014 		  PC GENERAL OPERATING 15,000

ST CLOUD TECHNICAL AND COMMUNITY COLLEGE

FOUNDATION
ST CLOUD,MN56303 		  GOV GENERAL OPERATING 10,000

ST CLOUD YMCA

1530 NORTHWAY DRIVE
ST CLOUD,MN56301 		  PC GENERAL OPERATING 10,000

STAGES THEATRE COMPANY

1111 MAINSTREET
HOPKINS,MN55343 		  PC GENERAL OPERATING 10,000

STEPHEN SILLER TUNNEL TO TOWERS FOUNDATIO

TOWERS FOUNDATION
STATEN ISLAND,NY10306 		  PC GENERAL OPERATING 4,000

TANZANIA HEALTH PARTNERSHIP

7520 GOLDEN VALLEY ROAD
GOLDEN VALLEY,MN55427 		  PC GENERAL OPERATING 5,000

THEATRE L'HOMME DIEU

PO BOX 1086
ALEXANDRIA,MN56308 		  PC GENERAL OPERATING 10,000

UNIVERSITY OF MINNESOTA FOUNDATION

PO BOX 860266
MINNEAPOLIS,MN554860266 		  PC GENERAL OPERATING 5,000

UNIVERSITY OF MINNESOTA FOUNDATION

PO BOX 860266
MINNEAPOLIS,MN554860266 		  PC GENERAL OPERATING 5,000

UNIVERSITY OF MINNESOTA FOUNDATION

PO BOX 860266
MINNEAPOLIS,MN554860266 		  PC GENERAL OPERATING 25,000

VETERANS HONOR FLIGHT OF NDMN

308 SHEYENNE ST
WEST FARGO,ND58078 		  PC GENERAL OPERATING 1,600

VOCAL ESSENCE

1900 NICOLLET AVENUE
MINNEAPOLIS,MN55403 		  PC GENERAL OPERATING 2,500

ALEXANDRIA TECHNICAL COLLEGE

1601 JEFFERSON STREET
ALEXANDRIA,MN563083799 		  GOV SCHOLARSHIP PROGRAMS 1,000

ALEXANDRIA TECHNICAL COLLEGE

1601 JEFFERSON STREET
ALEXANDRIA,MN563083799 		  GOV SCHOLARSHIP PROGRAMS 5,000

ALEXANDRIA TECHNICAL COLLEGE

1601 JEFFERSON STREET
ALEXANDRIA,MN563083799 		  GOV SCHOLARSHIP PROGRAMS 2,000

ALEXANDRIA TECHNICAL COLLEGE

1601 JEFFERSON STREET
ALEXANDRIA,MN563083799 		  GOV SCHOLARSHIP PROGRAMS 2,000

ALEXANDRIA TECHNICAL COLLEGE

1601 JEFFERSON STREET
ALEXANDRIA,MN563083799 		  GOV SCHOLARSHIP PROGRAMS 1,000

BETHEL UNIVERSITY

3900 BETHEL DRIVE
ST PAUL,MN55122 		  PC SCHOLARSHIP PROGRAMS 1,000

CATHEDRAL HIGH SCHOOL

312 7TH AVENUE NORTH
ST CLOUD,MN56303 		  PC SCHOLARSHIP PROGRAMS 10,000

CENTRAL LAKES COLLEGE

1830 AIPORT ROAD
STAPLES,MN56479 		  GOV SCHOLARSHIP PROGRAMS 1,000

CONCORDIA COLLEGE

901 - 8TH STREET S
MOORHEAD,MN56562 		  PC SCHOLARSHIP PROGRAMS 1,000

CONCORDIA COLLEGE

901 - 8TH STREET S
MOORHEAD,MN56562 		  PC SCHOLARSHIP PROGRAMS 1,000

CRETIN-DERHAM HALL

550 S ALBERT ST
ST PAUL,MN55116 		  PC SCHOLARSHIP PROGRAMS 5,000

DUNWOODY COLLEGE OF TECHNOLOGY

818 DUNWOODY BLVD
MINNEAPOLIS,MN55403 		  GOV SCHOLARSHIP PROGRAMS 5,000

FERGUS AREA COLLEGE FOUNDATION INC

1414 COLLEGE WAY
FERGUS FALLS,MN565371000 		  PC SCHOLARSHIP PROGRAMS 15,000

IDAHO FFA FOUNDATION INC

PO BOX 827
STAR,ID83669 		  PC SCHOLARSHIP PROGRAMS 10,000

MAHNOMEN AREA PARENT TEACHER & STUDENT

ORGANIZATION
MAHNOMEN,MN56557 		  PC SCHOLARSHIP PROGRAMS 4,000

MICHIGAN TECHNOLOGICAL UNIVERSITY

1400 TOWNSEND DRIVE
HOUGHTON,MI499311295 		  GOV SCHOLARSHIP PROGRAMS 2,500

MINNESOTA STATE UNIVERSITY MOORHEAD

1104 SOUTH 7TH AVENUE
MOORHEAD,MN56563 		  GOV SCHOLARSHIP PROGRAMS 1,000

MINNESOTA STATE UNIVERSITY MOORHEAD

1104 SOUTH 7TH AVENUE
MOORHEAD,MN56563 		  GOV SCHOLARSHIP PROGRAMS 2,000

MINNESOTA STATE UNIVERSITY MOORHEAD

1104 SOUTH 7TH AVENUE
MOORHEAD,MN56563 		  GOV SCHOLARSHIP PROGRAMS 2,000

MINNESOTA STATE UNIVERSITY MOORHEAD

1104 SOUTH 7TH AVENUE
MOORHEAD,MN56563 		  GOV SCHOLARSHIP PROGRAMS 1,000

NEVIS PAM LINDOW SCHOLARSHIP FUND

24454 FAIRWOOD LANE
NEVIS,MN56467 		  PC SCHOLARSHIP PROGRAMS 2,000

NORTH DAKOTA STATE COLLEGE OF SCIENCE

800 6TH STREET NORTH
WAHPETON,ND58076 		  GOV SCHOLARSHIP PROGRAMS 500

NORTH DAKOTA STATE UNIVERSITY

1340 ADMINISTRATION AVENUE
FARGO,ND58102 		  GOV SCHOLARSHIP PROGRAMS 2,000

NORTH DAKOTA STATE UNIVERSITY

1340 ADMINISTRATION AVENUE
FARGO,ND58102 		  GOV SCHOLARSHIP PROGRAMS 1,000

NORTH DAKOTA STATE UNIVERSITY

1340 ADMINISTRATION AVENUE
FARGO,ND58102 		  GOV SCHOLARSHIP PROGRAMS 1,000

SOUTH DAKOTA STATE UNIVERSITY

1451 STADIUM ROAD
BROOKINGS,SD57007 		  GOV SCHOLARSHIP PROGRAMS 1,000

SOUTH HAMILTON SCHOOL DISTRICT FOUNDATION

315 FOUNDATION STREET
JEWELL,IA50130 		  PC SCHOLARSHIP PROGRAMS 2,000

SYRACUSE UNIVERSITY

900 SOUTH CROUSE AVENUE
SYRACUSE,NY13244 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF MARY

7500 UNIVERSITY DR
BISMARK,ND58504 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF MINNESOTA

200 FRASER HALL
MINNEAPOLIS,MN55455 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF MINNESOTA

200 FRASER HALL
MINNEAPOLIS,MN55455 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF MINNESOTA

200 FRASER HALL
MINNEAPOLIS,MN55455 		  GOV SCHOLARSHIP PROGRAMS 2,500

UNIVERSITY OF MINNESOTA DULUTH

FINANCIAL AID
DULUTH,MN55812 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF MINNESOTA MORRIS

UMM BUSINESS OFFICE
MORRIS,MN56267 		  GOV SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF NORTHWESTERN ST PAUL

3003 SNELLING AVE N
ST PAUL,MN551131598 		  PC SCHOLARSHIP PROGRAMS 1,000

UNIVERSITY OF ST THOMAS

2115 SUMMIT AVENUE
ST PAUL,MN55105 		  PC SCHOLARSHIP PROGRAMS 1,000

US TREASURY

HQ USAFA/FMF
USAF ACADEMY,CO808405035 		  GOV SCHOLARSHIP PROGRAMS 2,500
Total .................................right arrow 3a 1,399,119
bApproved for future payment

ALEXANDRIA TECHNICAL COLLEGE FOUNDATION
1601 JEFFERSON STREET
ALEXANDRIA,MN56308 		  PC BUILDING CAPITAL CAMPAIGN 1,315,000
Total ................................. right arrow 3b 1,315,000
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
aPROGRAM - SHOREWOOD CAMP         7,866,829
bPROGRAM - CMSH         8,415,234
cPROGRAM - LEXINGTON         7,605,364
dPROGRAM - ALBION         717,235
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 1,519,031  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 75,000  
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 2,103,735  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aMISC REV - ALBION 		    03 14,966  
bMISC REV - SHOREWOOD CAMPUS     03 951,200  
cMISC REV - CMSH     03 3,144,717  
dMISC REV - FOUNDATION     03 86,851  
eMISC REV - LEXINGTON     03 340,872  
fMISC REV - ESPLANADE     03 104,004  
12 Subtotal. Add columns (b), (d), and (e) .. 0 8,340,376 24,604,662
13Total. Add line 12, columns (b), (d), and (e)..................
13
32,945,038
(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.)
1A SUPPORT, MANAGE AND MAINTAIN SENIOR HOUSING.
1B SUPPORT, MANAGE AND MAINTAIN SENIOR HOUSING.
1C SUPPORT, MANAGE AND MAINTAIN SENIOR HOUSING.
1D SUPPORT, MANAGE AND MAINTAIN SENIOR HOUSING.
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:
JA WEDUM FOUNDATION
EIN:
41-6025661
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 18,456 9,228 9,228 0

TY 2023 InvestmentsCorpBondsSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Name of Bond End of Year Book Value End of Year Fair Market Value
CALAMOS INVT TR NEW MARKET NEUTRAL FD CL I 234,480 238,326

TY 2023 InvestmentsCorpStockSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 123,418 137,588
ABBVIE INC 103,332 122,736
ALPHABET INC CLASS A COMMON STOCK 70,629 111,333
ALPHABET INC CLASS C COMMON STOCK 46,759 58,768
AMAZON.COM INC 137,260 188,254
AMGEN INC 118,036 149,482
APPLE INC 100,291 146,900
AUTOMATIC DATA PROCESSING INC 113,814 136,287
BANK OF AMERICA CORP 144,421 149,562
BERKSHIRE HATHAWAY INC 114,781 145,874
BRISTOL MYERS SQUIBB CO 130,009 101,594
CATEPILLAR INC 104,044 163,210
CHEVRON CORPORATION 106,680 116,792
CISCO SYSTEMS INC 110,772 122,663
COCA COLA COMPANY 115,366 119,923
COSTCO WHOLESALE CORP 133,110 168,320
DIAMOND HILL FDS 499,104 505,484
DIAMOND HILL LONG-SHORT FUND CLASS I 257,825 255,176
DODGE & COX FUNDS INSTITUTIONAL STOCK FD CLASS I 480,281 506,857
ECOLAB INC 130,892 151,539
ELI LILLY & CO 85,856 211,017
EUROPACIFIC GROWTH FD 474,310 481,355
EXXON MOBIL CORP 82,041 109,278
FEDEX CORP 115,014 140,398
FIRST TRUST GLOBAL TACTICAL COMMODITY STRATEGY FUND 273,443 225,746
GOLDMAN SACHS GROUP INC 114,706 149,679
HOME DEPOT INC 117,218 147,630
HONEYWELL INTL INC 130,136 146,378
INTEL CORP 107,049 194,015
INVESCO EXCHANGE TRADED FD TR II S&P 500 LOW VOLATILITY ETF 379,631 365,182
ISHARES MSCI EAFE ETF 309,415 331,841
ISHARES RUSSELL 1000 ETF 479,127 552,844
ISHARES RUSSELL 2000 ETF 497,368 535,494
JOHNSON & JOHNSON 126,499 126,803
JPMORGAN CHASE & CO 124,085 165,848
MASTERCARD INC 115,182 147,572
MCDONALDS CORP 105,341 133,430
MERCK & CO 99,643 127,117
MICROSOFT CORP 104,893 166,210
NEW WORLD FD INC NEW 160,672 167,624
NVIDIA CORP 56,095 150,052
ORACLE CORP 96,676 142,541
PFIZER INC 154,674 102,953
PROCTER & GAMBLE CO 114,612 124,412
RBC FDS TD US GOVT MONEY MKT 2,854,706 2,854,706
SELECT SECTOR SPDR TRUST THE HEALTH CARE SELECT SECTOR 118,786 126,424
SELECT SECTOR SPDR TRUST THE INDUSTRIAL SELECT SECTOR 118,933 128,809
SELECT SECTOR SPDR TRUST THE UTILITIES SELECT SECTOR 241,709 241,161
SPDR GOLD TR GOLD SHS 225,510 246,609
SPDR S&P 500 ETF TRUST 1,194,287 1,376,973
T ROWE PRICE DIVERSIFIED MID CAP GROWTH FDS 559,028 497,861
TARGET CORP 132,552 116,642
UNITED PARCEL SVC INC 107,745 102,986
UNITEDHEATH GROUP INC 128,150 135,303
US BANCORP DEL 173,344 154,207
VANGUARD INDEX FUNDS VANGUARD MID-CAP GROWTH ETF 241,011 269,815
VANGUARD INDEX FUNDS VANGUARD MID-CAP VALUE ETF 488,326 525,951
VANGUARD RUSSELL 1000 VALUE ETF 447,486 462,733
VANGUARD S&P 500 ETF 306,229 366,912
VANGUARD TOTAL STOCK MARKET ETF 13,281,754 20,131,640
VISA INC 111,982 144,234
WALMART INC 106,855 134,476
WALT DISNEY CO 147,777 114,940
WASTE MANAGEMENT INC 105,831 138,803
XCEL ENERGY INC 127,682 125,120

TY 2023 LegalFeesSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 3,718 0 3,718 0


TY 2023 OtherAssetsSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
TENANT SECURITY DEPOSITS 883,317 814,333 814,333
BENEFICIAL INTEREST IN CHAR REM TRUST 861,351 954,906 954,906
FINANCING FEES - SHOREWOOD 88 14,836 14,836
LAND, UNDER LONG-TERM COMMERCIAL LEASE 136,917 136,917 136,917
CMSH - GOODWILL 5,044,345 5,044,345 5,044,345
INVESTMENT IN ESPLANADE -216,870 38,224 38,224
RESERVES - LEXINGTON 855,144 905,163 905,163
RESERVES - COTTAGEWOOD 0 1,244,981 1,244,981
RESERVES - ALBION 0 1,841,176 1,841,176


TY 2023 OtherExpensesSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SHOREWOOD CAMPUS ADMINISTRATIVE 643,084 0 643,084 0
CMSH ADMINISTRATIVE 859,482 0 859,482 0
LEXINGTON ADMINISTRATIVE 3,078,975 0 3,078,975 0
ALBION ADMINISTRATIVE 283,850 0 283,850 0
FOUNDATION ADMIN 87,233 0 0 87,233


TY 2023 OtherIncomeSchedule2
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PROGRAM - SHOREWOOD CAMP 7,866,829   7,866,829
PROGRAM - CMSH 8,415,234   8,415,234
PROGRAM - LEXINGTON 7,605,364   7,605,364
PROGRAM - ALBION 717,235   717,235
MISC REV - ALBION 14,966   14,966
MISC REV - SHOREWOOD CAMPUS 951,200   951,200
MISC REV - CMSH 3,144,717   3,144,717
MISC REV - FOUNDATION 86,851   86,851
MISC REV - LEXINGTON 340,872   340,872
MISC REV - ESPLANADE 104,004   104,004


TY 2023 OtherIncreasesSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Description Amount
CHANGE IN VALUE OF BENEFICIAL INTEREST IN CRUT 93,555
INCOME FROM SUBSIDIARY 215,188


TY 2023 OtherLiabilitiesSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Description Beginning of Year - Book Value End of Year - Book Value
DEPOSITS - SHOREWOOD 535,012 419,262
ACCRUED INTEREST 85,866 97,791
DEPOSITS - LEXINGTON 249,785 287,549
DEPOSITS - ALBION 66,349 80,778
OTHER LIABILITIES 0 38,367


TY 2023 OtherProfessionalFeesSchedule
Name:
JA WEDUM FOUNDATION
EIN:
41-6025661
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 45,166 45,166 0 0
CONSULTING FEES 12,000 0 12,000 0