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 05-01-2023 , and ending 04-30-2024
Name of foundation
Charles M Bair Family Trust
C/O US Bank NA
Number and street (or P.O. box number if mail is not delivered to street address)303 N Broadway
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Billings, MT59101
A Employer identification number

81-6075761
B Telephone number (see instructions)

(406) 657-8139
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$23,055,851J 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) 1,060,000
2 Check right arrow.............
3 Interest on savings and temporary cash investments 37,347 37,347  
4 Dividends and interest from securities... 375,090 375,090  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 566,813
b Gross sales price for all assets on line 6a 3,839,497
7 Capital gain net income (from Part IV, line 2)... 566,813
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
30,022 16,616  
12 Total. Add lines 1 through 11........ 2,069,272 995,866  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 222,099 0   222,099
15 Pension plans, employee benefits....... 6,900 0   6,900
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
2,100 0   2,100
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
14,627 0   14,627
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
246,696 49,549   197,147
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
36,353 10,924   25,429
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 204,965 0   204,965
21 Travel, conferences, and meetings....... 2,405 0   2,405
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
41,328 6   41,322
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 777,473 60,479   716,994
25 Contributions, gifts, grants paid....... 1,009,301 1,009,301
26 Total expenses and disbursements. Add lines 24 and 25 1,786,774 60,479   1,726,295
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 282,498
b Net investment income (if negative, enter -0-) 935,387
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............. 67,677 18,317 18,317
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..........      
10a Investments—U.S. and state government obligations (attach schedule) 3,303,809 Click to see attachment
List of Attached Documents:
// Content
3,353,497 		3,139,043
b Investments—corporate stock (attach schedule)....... 7,508,102 Click to see attachment
List of Attached Documents:
// Content
7,673,630 		10,983,153
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)..........      
14 Land, buildings, and equipment: basis right arrow3,422,491
Less: accumulated depreciation (attach schedule) right arrow   3,422,491 3,422,491 3,493,084
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
18,728,537 		Click to see attachment
List of Attached Documents:
// Content
18,845,179 		Click to see attachment
List of Attached Documents:
// Content
5,422,254
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 33,030,616 33,313,114 23,055,851
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........ 33,030,616 33,313,114
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 33,030,616 33,313,114
30 Total liabilities and net assets/fund balances (see instructions). 33,030,616 33,313,114
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
33,030,616
2
Enter amount from Part I, line 27a .....................
2
282,498
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
33,313,114
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
33,313,114
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 3,835,051   3,272,684 562,367
b 4,446     4,446
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       562,367
b       4,446
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 2 566,813
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 13,002
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 13,002
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 13,002
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 18,760
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 18,760
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 5,758
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow5,758 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 arrowMT
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.charlesmbairtrusts.org
14
The books are in care ofright arrowUS Bank NA Telephone no.right arrow (406) 657-8139

Located atright arrowPO Box 2043MilwaukeeWI ZIP+4right arrow532012043
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
Gerry Fagan Moulton Bellingham Chairman
15.00 		0 0 0
PO Box 2559
Billings,MT59103
Bill Davies US Bank Vice Chairman
15.00 		0 0 0
PO Box 2043
Milwaukee,WI532012043
James Day US Bank Secretary
15.00 		0 0 0
PO Box 2043
Milwaukee,WI532012043
Kelly Coleman At Large Member - Yellowstone County
15.00 		0 0 0
1333 Riviera Place
Billings,MT59106
Burt Hurwitz At Large Member - Meagher County
15.00 		0 0 0
1486 Smith River Rd
White Sulphur Springs,MT59645
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
Paula Beezley Security and Mainten
80.00 		77,430 0 0
303 N Broadway
Billings,MT59101
Kevin Zimmerman Security Staff and S
80.00 		73,692 0 0
303 N Broadway
Billings,MT59101
Elizabeth Guheen Director and Chief C
50.00 		71,875 0 0
303 N Broadway
Billings,MT59101
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
US Bank NA Trustee Services 198,196
PO Box 2043
Milwaukee,WI532012043
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
14,678,493
b
Average of monthly cash balances.......................
1b
433,719
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
15,112,212
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) Click to see attachment
List of Attached Documents:
// Content
.............
1e
14,486,187
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
15,112,212
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
226,683
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
14,885,529
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
744,276
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
744,276
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
13,002
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
13,002
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
731,274
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
731,274
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
731,274
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
1,726,295
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
375,000
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,101,295
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 7 731,274
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 310,879
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$ 2,101,295
a Applied to 2022, but not more than line 2a 310,879
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		Click to see attachment
List of Attached Documents:
// Content
1,050,000
d Applied to 2023 distributable amount..... 731,274
e Remaining amount distributed out of corpus 9,142
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 1,059,142
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) ....... 		1,050,000
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 ...... 		9,142
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.... 9,142
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:
Jason Jewett
302 N Last Chance Gulch
Helena,MT59601
(406) 447-5253
jason.jewett@usbank.com
bThe form in which applications should be submitted and information and materials they should include:
Applicants must use the grant application found on the the website at charlesmbairtrusts.org/grants.html, noting any new provisions for the year. Additionally, the application must include an IRS Determination Letter, Form 990 or 990EZ, current operating budget and balance sheet, the county of service, a separate thorough project explanation, and certification of public charity status.
cAny submission deadlines:
March 1st
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Please refer to the application found at www.charlesmbairtrusts.org/grants.html for restrictions and limitations on awards.
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

Alberta Bair Theater

PO Box 1556
Billings,MT59103 		None PC Grant for ABT educational programs and workshops. 27,204

Big Brothers & Sisters of Yellowstone County Inc

2139 Broadwater Ave Ste A
Billings,MT59102 		None PC Grant for recruitment and support of volunteer mentors. 10,000

Big Sky Science Education Enhancement Inc

3945 Teal Street
Billings,MT59102 		None PC Grant for Rocket Camp. 2,000

Big Sky Senior Services

925 Lake Elmo Dr Ste B
Billings,MT59105 		None PC Grant for helping hands older transportation. 30,000

Billings Catholic Schools

PO Box 31158
Billings,MT59107 		None PC Grant for humanities curriculum. 25,000

Billings Clinic Foundation

PO Box 31031
Billings,MT59101 		None PC Grant for ligature resistance chairs. 22,298

Billings Family YMCA

4052 North 32nd Street
Billings,MT59101 		None PC Grant for raquet and basketball court remodels. 40,000

Billings Studio Theatre

1500 Rimrock Road
Billings,MT59102 		None PC Grant for new lennox merit system. 3,500

Billings Symphony

2820 2nd Ave North
Billings,MT59101 		None PC Grant for education and community engagement program. 5,000

Boys and Girls Club of Billings and Yellowstone County

505 Orchard Lane
Billings,MT59107 		None PC Grant for facility heating system upgrades. 30,000

Community Leadership Developement Inc

PO Box 3381 24 S 29th St
Billings,MT59103 		None PC Grant for connection recovery camp. 35,000

Education Foundation of Billings Schools

415 N 30th St
Billings,MT59101 		None PC Grant for summer mobile food program. 15,000

Family Services Inc

PO Box 1020
Billings,MT59103 		None PC Grant for homeless needs in community. 10,000

Friends of the Children - Eastern MT

PO Box 22275
Billings,MT59104 		None PC Grant for operational support. 25,000

Girl Scouts of Montana and Wyoming

2303 Grand Avenue
Billings,MT59102 		None PC Grant for low income membership assistance. 5,000

Horse Spirits Healing Inc

7256 Hwy 3
Billings,MT59106 		None PC Grant for equine assistant services for veterans. 5,000

LaVie - Billings Crisis Pregancy Center Inc

PO Box 80146
Billings,MT59108 		None PC Grant for AEDs for new clinic location. 3,500

Love and Sunshine Ministries

PO Box 23174
Billings,MT59101 		None PC Grant for mothers and children program. 25,000

Meagher County Arts Council Inc

PO Box 755
White Sulphur Springs,MT596450755 		None PC Grant for art events and education. 10,000

Meagher County Disaster and Emergency Services

PO Box 449
White Sulphur Springs,MT59645 		None GOV Grant for emergency services side-by-side. 30,000

Meagher County Health Dept

PO Box 309
White Sulphur Springs,MT59645 		None GOV Grant for child immunization program. 9,000

Meagher County Rural Fire

PO Box 309
White Sulphur Springs,MT59645 		None GOV Grant for Homatro Jaws of Life purchase. 10,000

Meagher County Search and Rescue

40 Jackson Rd
White Sulphur Springs,MT59645 		None GOV Grant for unmanned aerial vehicle drone. 6,484

Meagher County Senior Center

101 1st Ave SE
White Sulphur Springs,MT59645 		None PC Grant for kitchen update. 71,924

Meagher County Sheriff's Office

PO Box 449
White Sulphur Springs,MT59645 		None GOV Grant for vehicle radios. 17,000

Meagher County Stewardship Council

PO Box 607
White Sulphur Springs,MT59645 		None PC Documentary distribution & marketing. 5,000

Montana Rescue Mission

2822 Minnesota Avenue
Billings,MT59101 		None PC Grant for kitchen hood replacement at shelter. 30,000

Mountainview Medical Center Inc

16 West Mains St PO Box Q
White Sulphur Springs,MT596450817 		None PC Grant for snake purchase for hospital pipes. 8,564

MSU Billings Foundation

1500 University Dr
Billings,MT59101 		None PC Grant for art facility. 27,660

New Day Inc

1726 Lampman Drive
Billings,MT59102 		None PC Grant for replacement of aging mobile homes for foster kids. 100,000

Our Montana

PO Box 699
Billings,MT59103 		None PC Grant for restoring and improving Boothill Cemetery. 6,500

Red Ants Pants Foundation

PO Box 637
White Sulphur Springs,MT59645 		None PC Grant for girls leadership program. 5,000

Saint Vincent de Paul

3005 1st Ave South
Billings,MT59101 		None PC Grant for HVAC rooftop unit. 8,275

St Vincent Healthcare Foundation

1106 North 30th
Billings,MT59101 		None PC Grant for fitness programs adults 65 and older. 30,000

Veterans Navigation Network

2173 Overland Ave
Billings,MT59102 		None PC Grant to fund veterans assistance program support. 20,000

Western Heritage Center

2822 Montana Ave
Billings,MT59101 		None pc Grant for maintaining and updating museum artifacts. 12,392

Wheatland Memorial Healthcare

PO Box 287
Harlowton,MT590360287 		None PC Grant for capital replacement facility. 50,000

White Sulphur Springs School District #8

PO Box C
White Sulphur Springs,MT59645 		None GOV Grant for new playground equipment/learning space. 35,000

White Sulphur Springs Volunteer Fire Dept

PO Box 703
White Sulphur Spring,MT59645 		None GOV Grant for 4 sets of turnout gear. 15,000

Yellowstone Art Museum

401 North 27th Street
Billings,MT59101 		None PC Grant for building maintenance and public safety. 28,000

Yellowstone Boys and Girls Ranch Foundation

2050 Overland Ave
Billings,MT59105 		None PC Grant for academy school safety project. 30,000

Yellowstone Casa Inc

PO Box 688
Billings,MT59103 		None PC Grant for court appointed foster care advocates. 10,000

Yellowstone Valley Animal Shelter

1735 Monad Road
Billings,MT59101 		None PC Grant for new facility. 25,000

Youth Dynamics

2334 Lewis Avenue
Billings,MT59102 		None PC Grant for maintenance/repairs on 4 youth homes. 30,000

YWCA of Billings

909 Wyoming Ave
Billings,MT59101 		None PC Grant for trauma and victim support. 25,000

Zoo Montana

2100 South Shiloh Road
Billings,MT59106 		None PC Grant for ultra sound transport carrier. 35,000
Total .................................right arrow 3a 1,009,301
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
aMuseum Admissions         13,406
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 37,347  
4 Dividends and interest from securities ....     14 375,090  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 566,813  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aRoyalty Income 		    15 1,874  
bOther Income     03 14,742  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 995,866 13,406
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,009,272
(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.)
1b Revenue from admissions and memberships to the museum.
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
Charles M Bair Family Trust
C/O US Bank NA
Employer identification number

81-6075761
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
Charles M Bair Family Trust
C/O US Bank NA 		Employer identification number
81-6075761
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Bair Ranch Foundation
 
US Bank Trust PO Box 30678
 
Billings, MT591150678

$ 1,050,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
Museum of the Rockies
 
600 W Kagy Blvd
 
Bozeman, MT59717

$ 10,000


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

$  


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

$  


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

$  


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

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
Charles M Bair Family Trust
C/O US Bank NA 		Employer identification number

81-6075761
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
Charles M Bair Family Trust
C/O US Bank NA 		Employer identification number

81-6075761
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 14,627 0   14,627

TY 2023 DistributionFromCorpusElection
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Election:
SECTION 4942(h)(2)ELECTION AS TO THE TREATMENT OF QUALIFYING DISTRIBUTIONS: Pursuant to IRC Section 4942(h)(2) and Regulation 53.4942(a)-3(d)(2), the Charles M. Bair Family Trust hereby elects to treat $1,050,000 of current year qualifying distributions in excess of the immediately preceding tax year's undistributed income as being made out of corpus for the following tax years: Current 2023 tax year passthrough funds 1,050,000

TY 2023 InvestmentsCorpStockSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Name of Stock End of Year Book Value End of Year Fair Market Value
Albemarle Corp 32,487 48,123
Alphabet Inc Cl A 68,266 244,169
Amazon Com Inc 73,776 262,500
Amgen Inc 61,628 82,182
Apple Inc 2,557 340,660
Bank of America Corp 12,848 51,814
Blackrock Inc 40,582 75,464
Booking Holdings Inc 40,290 51,780
Caterpillar Inc 69,401 100,371
Chubb Ltd 39,570 87,024
Cisco Systems Inc 49,991 93,960
Clearbridge International Growth 597,826 635,889
Cme Group Inc 38,322 41,928
Copart Inc 96,470 124,913
Costco Whsl Corp 34,126 162,653
Ecolab Inc 43,066 50,884
Gilead Sciences Inc 71,883 71,720
Home Depot Inc 114,477 133,688
Honeywell International Inc 88,650 106,002
Ishares Core Msci Eafe 947,164 1,091,360
Ishares Core Msci Emerging Mkts 439,699 464,850
Ishares Msci Emerging Ex China 452,921 459,823
Ishares Msci Eafe Value 582,718 641,640
Ishares Russell 2000 718,544 803,190
Ishares Russell Mid Cap 747,204 1,090,794
Ishares Russell Mid Cap Value 545,669 624,015
J P Morgan Chase Co 27,588 162,979
Johnson Johnson 17,034 57,836
Marathon Petroleum Corp 51,295 213,521
Mastercard Inc 8,547 169,200
Medtronic Plc 66,298 68,204
Meta Platforms Inc 26,167 86,034
Microsoft Corp 2,641 389,330
Salesforce Inc 101,508 134,470
Schwab Charles Corp 20,083 55,463
Starbucks Corp 34,190 57,519
Stephens Mid Cap Growth R5 513,268 613,992
Target Corp 26,379 40,245
Texas Instruments Inc 28,229 44,105
Unitedhealth Group Inc 56,962 108,832
Walmart Inc 36,286 115,733
Danaher Corp 90,040 98,648
Abbvie Inc 62,021 65,056
Adobe Inc 45,639 34,712
Netflix Com Inc 40,983 46,804
Nextera Energy Inc 124,846 120,546
Nvidia Corp 49,223 86,402
Palo Alto Networks Inc 37,406 36,361
Servicenow Inc 51,227 52,000
Verizon Communications Inc Com 40,713 41,465
Eaton Corp Plc Shs 91,019 127,304
Lyondellbasell Industries N V Shs A 13,903 14,996

TY 2023 InvestmentsGovtObligationsSch
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
US Government Securities - End of Year Book Value:

3,353,497
US Government Securities - End of Year Fair Market Value:

3,139,043
State & Local Government Securities - End of Year Book Value:


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


0


TY 2023 LegalFeesSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal Fees 2,100 0   2,100


TY 2023 OtherAssetsSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
American Tower Corp 55,075 46,292 68,624
Schwab US Reit 309,621 503,893 468,750
Prologis Inc Com   31,152 25,512
Collectible Good - American Indian Art 303,278 303,278 386,825
Collectible Good - Furniture and Decorations 557,319 557,319 465,775
Collectible Good - Paintings and Watercolors 1,815,142 1,815,142 2,881,200
Collectible Good - Photogravures Prints and Books 442,956 442,956 339,000
Collectible Good - Silver and Silver Plate 283,951 283,951 402,610
Collectible Good - Young Chief Painting   375,000 375,000
Bair Ranch Foundation 14,486,187 14,486,187 0
Commodities 475,000 0 0
Various Mineral Interests 8 9 8,958


TY 2023 OtherExpensesSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Advertising 27,209 0   27,209
Other Museum Expenses 14,119 6   14,113


TY 2023 OtherIncomeSchedule2
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Museum Admissions 13,406   13,406
Royalty Income 1,874 1,874 1,874
Other Income 14,742 14,742 14,742


TY 2023 OtherProfessionalFeesSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Trustee Fees 198,196 49,549   148,647
Professional Fees 48,500 0   48,500


TY 2023 ReductionExplanationStatement
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Explanation:
The Charles M. Bair Family Trust has a membership interest in another private foundation, The Bair Ranch Foundation. The Bair Ranch Foundation makes annual distributions based on the value of its assets. The contributions made to the Charles M. Bair Family Trust from the Bair Ranch Foundation are treated as pass through contributions. Accordingly, the value of the membership interest is not included as it is considered an exempt asset and to include the value here would result in duplication.As to the value of the membership interests, book value has been utilized throughout this Return of the Private Foundation. The membership interest is not transferrable or sellable and these restrictions create a situation whereby the true value is not easily determinable. Since it is an exempt asset the value is not a significant issue. Accordingly, book value has been used.

TY 2023 TaxesSchedule
Name:
Charles M Bair Family Trust
 
C/O US Bank NA
EIN:
81-6075761
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Foreign Taxes 10,924 10,924   0
Payroll Taxes 25,429 0   25,429