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
THE JAY AND ROSE PHILLIPS FAMILY
FOUNDATION OF MINNESOTA
Number and street (or P.O. box number if mail is not delivered to street address)800 IDS CENTER 80 S 8TH STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55402
A Employer identification number

27-4196509
B Telephone number (see instructions)

(612) 672-3878
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$66,669,069J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,287,360 2,287,360  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 563,007
b Gross sales price for all assets on line 6a 4,696,041
7 Capital gain net income (from Part IV, line 2)... 563,007
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
214,659 204,655 214,659
12 Total. Add lines 1 through 11........ 3,065,026 3,055,022 214,659
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
31,515 0 0 31,515
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25,212 15,127 0 10,085
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
1,254,071 236,479 8,988 1,029,004
17 Interest............... 75,885 75,885 0 75,885
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
34,824 16,724 0 0
19 Depreciation (attach schedule) and depletion... 350,774 205,671 205,671
20 Occupancy.............. 156,445 127,039 0 156,445
21 Travel, conferences, and meetings....... 37,676 0 0 37,676
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
61,693 20 0 61,693
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,028,095 676,945 214,659 1,402,303
25 Contributions, gifts, grants paid....... 2,570,920 2,570,920
26 Total expenses and disbursements. Add lines 24 and 25 4,599,015 676,945 214,659 3,973,223
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,533,989
b Net investment income (if negative, enter -0-) 2,378,077
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 160,520 464,953 464,953
2 Savings and temporary cash investments......... 2,095,599 2,252,904 2,252,904
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 arrow1,000,000
Less: allowance for doubtful accounts right arrow0 1,000,000 1,000,000 1,000,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 27,876,183 Click to see attachment
List of Attached Documents:
// Content
26,403,674 		32,829,013
c Investments—corporate bonds (attach schedule)....... 10,676,877 Click to see attachment
List of Attached Documents:
// Content
10,873,955 		9,017,490
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).......... 14,187,910 Click to see attachment
List of Attached Documents:
// Content
13,490,325 		12,954,971
14 Land, buildings, and equipment: basis right arrow8,580,211
Less: accumulated depreciation (attach schedule) right arrow430,473 8,362,966 8,149,738 8,149,738
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 64,360,055 62,635,549 66,669,069
Liabilities 17 Accounts payable and accrued expenses..........   14,488
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 2,825,000 2,815,000
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
683,530 		Click to see attachment
List of Attached Documents:
// Content
10,227
23 Total liabilities (add lines 17 through 22)......... 3,508,530 2,839,715
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........... 60,851,525 59,795,834
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 60,851,525 59,795,834
30 Total liabilities and net assets/fund balances (see instructions). 64,360,055 62,635,549
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
60,851,525
2
Enter amount from Part I, line 27a .....................
2
-1,533,989
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
478,298
4
Add lines 1, 2, and 3 ..........................
4
59,795,834
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
59,795,834
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 BERNSTEIN REALIZED GAIN      
b ALLIANCEBERNSTEIN SECURITIZED ASSETS FUND (CAYMAN). ,LP P 2021-01-01 2023-11-30
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 3,196,041   2,633,034 563,007
b 1,500,000   1,500,000 0
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       563,007
b       0
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 2 563,007
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 33,055
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 33,055
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 33,055
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 38,200
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 25,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 63,200
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 121
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 30,024
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow30,024 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.PHILLIPSFAMILYMN.ORG
14
The books are in care ofright arrowGREG WENZ CFO THE MINNEAPOLIS FOUNDATION Telephone no.right arrow (612) 672-3821

Located atright arrow800 IDS CENTER 80 S 8TH STREETMINNEAPOLISMN ZIP+4right arrow55402
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)
 
No
(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
 
 
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
Yes
 
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
RT RYBAK PRESIDENT
2.00 		0 0 0
80 SOUTH 8TH ST SUITE 800
MINNEAPOLIS,MN55402
TYLER PHILLIPS TREASURER
2.00 		0 0 0
80 SOUTH 8TH ST SUITE 800
MINNEAPOLIS,MN55402
DEAN PHILLIPS CO-CHAIR
2.00 		0 0 0
80 SOUTH 8TH ST SUITE 800
MINNEAPOLIS,MN55402
JEANNE PHILLIPS CO-CHAIR
2.00 		0 0 0
80 SOUTH 8TH ST SUITE 800
MINNEAPOLIS,MN55402
HUTTON PHILLIPS BOARD MEMBER
2.00 		0 0 0
80 SOUTH 8TH ST SUITE 800
MINNEAPOLIS,MN55402
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
THE MINNEAPOLIS FOUNDATION FOUNDATION SUPPORT SERVICES 711,150
80 SOUTH 8TH STREET SUITE 800
MINNEAPOLIS,MN55401
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 THE FOUNDATION FORMED THE 927 BUILDING, LLC TO RENOVATE A COMMERCIAL BUILDING LOCATED AT 927 WEST BROADWAY IN NORTH MINNEAPOLIS (THE "LLC"). THE FOLLOWING ARE THE GOALS OF THE LLC THAT GUIDE THE PROJECT DEVELOPMENT:A. ACHIEVING COMMUNITY AND ECONOMIC DEVELOPMENT THAT LEAD TO LOCAL OWNERSHIP.B. PURPOSEFULLY INVESTING IN THE NORTH MINNEAPOLIS COMMUNITY THROUGH A CATLYTIC REDEVELOPMENT OF AN EXISTING BUT NEGLECTED PROPERTY.C. PROVIDING EMPLOYMENT, RESOURCES AND CREATIVE AND COMMUNITY SPACE FOR THE PEOPLE THAT LIVE IN THE NORTH MINNEAPOLIS COMMUNITY.D. BRINGING NEW RETAIL TO THE NORTH MINNEAPOLIS COMMUNITY.THE LLC IS A FUNCTIONALLY RELATED BUSINESS AS DEFINED IN SECTION 4942 OF THE INTERNAL REVENUE CODE FOR THE FOUNDATION BECAUSE THE PROJECT DIRECTLY FURTHERS THE FOUNDATION'S MISSION. BECAUSE IT IS A FUNCTIONALLY RELATED BUSINESS, THE FOUNDATION'S OWNERSHIP IN THE LLC IS NOT AN EXCESS BUSINESS HOLDING WITHIN THE MEANING OF SECTION 4943 OF THE INTERNAL REVENUE CODE. 433,348
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
51,590,257
b
Average of monthly cash balances.......................
1b
2,816,517
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
54,406,774
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
54,406,774
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
816,102
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
53,590,672
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,679,534
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
2,679,534
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
33,055
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
33,055
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,646,479
4
Recoveries of amounts treated as qualifying distributions................
4
10,004
5
Add lines 3 and 4............................
5
2,656,483
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
2,656,483
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
3,973,223
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,973,223
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 2,656,483
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...... 596,357
b From 2019...... 740,807
c From 2020...... 1,256,937
d From 2021...... 1,385,514
e From 2022...... 1,728,822
f Total of lines 3a through e ........ 5,708,437
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 3,973,223
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..... 2,656,483
e Remaining amount distributed out of corpus 1,316,740
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 7,025,177
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) ... 		596,357
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		6,428,820
10 Analysis of line 9:
a Excess from 2019.... 740,807
b Excess from 2020.... 1,256,937
c Excess from 2021.... 1,385,514
d Excess from 2022.... 1,728,822
e Excess from 2023.... 1,316,740
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

A BETTER CHICAGO

200 W MADISON STREET 3RD FLOOR
CHICAGO,IL60606 		NONE PC GENERAL OPERATING SUPPORT 25,000

ACHIEVE TWIN CITIES

2829 UNIVERSITY AVE SE STE 850
MINNEAPOLIS,MN55414 		NONE PC GENIUS AND JOY - EDUCATOR STIPENDS AND ADMIN COSTS 128,520

ADVANCING EQUITY COALITION

2929 CHICAGO AVE S STE 100
MINNEAPOLIS,MN55407 		NONE PC ADVANCING EQUITY COALITION 20,000

AGAINST MALARIA FOUNDATION

310 W 20TH ST STE 300
KANSAS CITY,MO64108 		NONE PC GENERAL OPERATING SUPPORT 8,000

AGATE HOUSING AND SERVICES INC

2309 NICOLLET AVENUE SOUTH
MINNEAPOLIS,MN55404 		NONE PC GENERAL OPERATING SUPPORT 10,000

AISH GLOBAL

915 CLIFTON AVENUE SUITE 4
CLIFTON,NJ07013 		NONE PC GENERAL OPERATING SUPPORT 5,000

ALIGHT

PO BOX 1002
MINNEAPOLIS,MN55480 		NONE PC AMERICAN SERVICE IN UKRAINE 10,000

ALLIANCE FOR CHILDREN'S RIGHTS

3333 WILSHIRE BLVD SUITE 550
LOS ANGELES,CA90010 		NONE PC GENERAL OPERATING SUPPORT 8,000

AMERICAN FRIENDS OF MAGEN DAVID ADOM

20 WEST 36 STREET SUITE 1100
NEW YORK,NY10018 		NONE PC GENERAL OPERATING SUPPORT 50,000

AMERICAN JEWISH WORLD SERVICES

45 WEST 36TH STREET FLOOR 11
NEW YORK,NY10018 		NONE PC GENERAL OPERATING SUPPORT 8,000

AMHERST H WILDER FOUNDATION

451 LEXINGTON PARKWAY NORTH
ST PAUL,MN55104 		NONE PC MN COMPASS 12,000

AMOS AND CELIA HEILICHER MINNEAPOLIS JEWISH DAY SCHOOL

4330 S CEDAR LAKE ROAD
MINNEAPOLIS,MN55416 		NONE PC ANNUAL SUPPORT (BENEFIT SPONSORSHIP) 10,000

AMREF HEALTH AFRICA

224 W 35TH ST STE 500 237
NEW YORK,NY10001 		NONE PC GENERAL OPERATING SUPPORT 8,000

ANTI-DEFAMATION LEAGUE

605 THIRD AVENUE 10TH FLOOR
NEW YORK,NY101583560 		NONE PC GENERAL OPERATING SUPPORT 50,000

APPETITE FOR CHANGE MINNESOTA

2520 N 2ND ST 102
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 5,000

APS TYPE 1 FOUNDATION

PO BOX 404
STONY BROOK,NY11790 		NONE PC GENERAL OPERATING SUPPORT 5,000

ATHLETES COMMITTED TO EDUCATING STUDENTS

1115 EAST HENNEPIN AVENUE
MINNEAPOLIS,MN55414 		NONE PC GENERAL OPERATING SUPPORT 4,000

BABYS SPACE - A PLACE TO GROW

2438 18TH AVENUE SOUTH
MINNEAPOLIS,MN55404 		NONE PC GENERAL OPERATING SUPPORT 5,000

BE THE MATCH FOUNDATION

NW 5948 PO BOX 1450
MINNEAPOLIS,MN554855948 		NONE PC GENERAL OPERATING SUPPORT 2,500

BLACK STORYTELLERS ALLIANCE

1112 NEWTON AVENUE NORTH
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 1,800

BLAKE SCHOOL

110 BLAKE ROAD SOUTH
HOPKINS,MN55343 		NONE PC GENERAL OPERATING SUPPORT 5,000

BOYS AND GIRLS CLUBS OF THE TWIN CITIES

690 JACKSON STREET
ST PAUL,MN55130 		NONE PC GENERAL OPERATING SUPPORT 5,000

C A R E INC

PO BOX 1870
MERRIFIELD,VA22116 		NONE PC GENERAL OPERATING SUPPORT 8,000

CHILDREN OF THE NIGHT INC

3450 CAHUENGA BLVD UNIT 602
LOS ANGELES,CA90068 		NONE PC GENERAL OPERATING SUPPORT 5,000

CHILDREN'S HOME & AID SOCIETY OF ILLINOIS

200 WEST MONROE STREET SUITE 2100
CHICAGO,IL60606 		NONE PC CHOOSE TO CHANGE OPERATING SUPPORT 7,500

CHOPS INC

656 SELBY AVE STE 230
SAINT PAUL,MN55104 		NONE PC ALL CITY MUSIC 25,000

CITIZENS LEAGUE

400 ROBERT STREET NORTH SUITE 1820
ST PAUL,MN55101 		NONE PC GENERAL OPERATING SUPPORT 10,000

CLEARITY FOUNDATION

8880 RIO SAN DIEGO DRIVE SUITE 800
SAN DIEGO,CA92108 		NONE PC GENERAL OPERATING SUPPORT 1,000

COMMUNITIES IN SCHOOLS OF CHICAGO

815 WEST VAN BUREN STREET SUITE 300
CHICAGO,IL60607 		NONE PC GENERAL OPERATING SUPPORT 7,500

COMPASSION & CHOICES

101 SW MADISON STREET UNIT 8009
PORTLAND,OR97207 		NONE PC GENERAL OPERATING SUPPORT 7,500

CONNECTUP INSTITUTE

1908 UNIVERSITY AVE W
SAINT PAUL,MN55104 		NONE PC SUPPORTING ENTREPRENEURS IN NORTH MINNEAPOLIS - 540758 50,000

DANIEL MURPHY SCHOLARSHIP FUND

309 W WASHINGTON SUITE 700
CHICAGO,IL60606 		NONE PC GENERAL OPERATING SUPPORT 5,000

DIDI HIRSCH PSYCHIATRIC SERVICE

4760 SOUTH SEPULVEDA BOULEVARD
CULVER CITY,CA90230 		NONE PC SUPPORT FOR THE SURVIVORS OF SUICIDE ATTEMPTS WORK & OTHER SUPPORT GROUPS 35,000

DOCTORS WITHOUT BORDERS USA

40 RECTOR STREET 16TH FLOOR
NEW YORK,NY10006 		NONE PC GENERAL OPERATING SUPPORT 10,000

DOCTORS WITHOUT BORDERS USA

40 RECTOR STREET 16TH FLOOR
NEW YORK,NY10006 		NONE PC GENERAL OPERATING SUPPORT 500

DOWNTOWN WOMEN'S CENTER

442 SOUTH SAN PEDRO ST
LOS ANGELES,CA90013 		NONE PC GENERAL OPERATING SUPPORT 30,000

EDUCATORS 4 EXCELLENCE INC

1330 LAGOON AVE SUITE 03-125
MINNEAPOLIS,MN55408 		NONE PC GENERAL OPERATING SUPPORT 5,000

EMERGENCY USA - LIFE SUPPORT FOR CIVILIAN VICTIMS OF WAR AND POVERTY

31 WEST 34TH STREET SUITE 8138
NEW YORK,NY10001 		NONE PC GENERAL OPERATING SUPPORT 7,000

EVERY MEAL

2723 PATTON RD
ROSEVILLE,MN55113 		NONE PC GENERAL OPERATING SUPPORT 8,000

FORTIS CAPITAL

333 WASHINGTON AVENUE NORTH SUITE
300
MINNEAPOLIS,MN55401 		NONE PC PRELIMINARY SUPPORT 1,000

FOUNDATION FOR WOMEN WARRIORS

1185 PARK CENTER DRIVE SUITE R
VISTA,CA92081 		NONE PC GENERAL OPERATING SUPPORT 5,000

FREEWRITERS

4221 CHICAGO AVE
MINNEAPOLIS,MN55407 		NONE PC GENERAL OPERATING SUPPORT 2,500

FRIENDS AND CO

2550 UNIVERSITY AVENUE W SUITE
260-S
SAINT PAUL,MN55114 		NONE PC GENERAL OPERATING SUPPORT 10,000

GROUP FOR THE ADVANCEMENT OF PSYCHIATRY

PO BOX 570218
DALLAS,TX75357 		NONE PC GENERAL OPERATING SUPPORT 12,500

HEARTLAND ALLIANCE

208 S LASALLE ST STE 1300
CHICAGO,IL60604 		NONE PC IN SUPPORT OF READI PROGRAM 5,000

HELPS INTERNATIONAL

15301 DALLAS PARKWAY SUITE 200
ADDISON,TX75001 		NONE PC GENERAL OPERATING SUPPORT 1,000

HERZL CAMP FOUNDATION

4330 CEDAR LAKE ROAD S
ST LOUIS PARK,MN55416 		NONE PC HERZL IN THE CITY 5,000

HILLEL THE FOUNDATION FOR JEWISH CAMPUS LIFE (MN HILLEL)

1521 UNIVERSITY AVENUE SE
MINNEAPOLIS,MN55414 		NONE PC GENERAL OPERATING SUPPORT 3,000

INSTITUTE FOR NONVIOLENCE CHICAGO

1856 N LECLAIRE AVE FLOOR 3
CHICAGO,IL60639 		NONE PC GENERAL OPERATING SUPPORT 5,000

INTERNATIONAL INSTITUTE OF MINNESOTA

1694 COMO AVENUE
ST PAUL,MN55108 		NONE PC REFUGEE RESETTLEMENT 7,000

IT TAKES A VILLAGE MN

5803 XERXES AVE N 429
BROOKLYN CENTER,MN55430 		NONE PC ONGOING EFFORTS TO SECURE PERMANENT HOUSING FOR FORMER BELL LOFTS TENANTS 20,000

JEWISH COMMUNITY ACTION

2324 UNIVERSITY AVE W 105
ST PAUL,MN55114 		NONE PC GENERAL OPERATING SUPPORT 1,800

JEWISH COMMUNITY ACTION

2324 UNIVERSITY AVE W 105
ST PAUL,MN55114 		NONE PC GENERAL OPERATING SUPPORT 25,000

JEWISH COMMUNITY RELATIONS COUNCIL MINNESOTA AND THE DAKOTAS

12 NORTH 12TH STREET SUITE 480
MINNEAPOLIS,MN554032456 		NONE PC GENERAL OPERATING SUPPORT 5,000

JEWISH FAMILY AND CHILDREN'S SERVICE OF MINNEAPOLIS

5905 GOLDEN VALLEY ROAD
GOLDEN VALLEY,MN55422 		NONE PC IN SUPPORT OF ANNUAL BENEFIT ON 12/2/23 5,000

JUXTAPOSITION ARTS

1108 WEST BROADWAY AVE
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 10,000

LA GAY AND LESBIAN CENTER

1118 N MCCADDEN PLACE
LOS ANGELES,CA90038 		NONE PC CONTINUED SUPPORT FOR OUT FOR SAFE SCHOOLS 15,000

LOAVES AND FISHES TOO

721 KASOTA AVENUE SE
MINNEAPOLIS,MN55414 		NONE PC GENERAL OPERATING SUPPORT 10,000

LOCAL INITIATIVES SUPPORT CORPORATION

28 LIBERTY STREET FLOOR 34
NEW YORK,NY10005 		NONE PC IN SUPPORT OF LISC 35TH ANNIVERSARY CELEBRATION 1,000

LOCAL INITIATIVES SUPPORT CORPORATION

28 LIBERTY STREET FLOOR 34
NEW YORK,NY10005 		NONE PC LISC DEVELOPERS OF COLOR CAPACITY BUILDING INITIATIVE 100,000

LOS ANGELES REGIONAL FOOD BANK

1734 E 41ST STREET
LOS ANGELES,CA90058 		NONE PC GENERAL OPERATING SUPPORT 5,000

MAZON A JEWISH RESPONES TO HUNGER

10850 WILSHIRE BLVD SUITE 400
LOS ANGELES,CA90024 		NONE PC GENERAL OPERATING SUPPORT 5,000

MICROGRANTS

100 NORTH SIXTH STREET SUITE 626B
MINNEAPOLIS,MN55403 		NONE PC GENERAL OPERATING SUPPORT 25,000

MINNEAPOLIS COMMUNITY KOLLEL

2930 INGLEWOOD AVENUE SOUTH
ST LOUIS PARK,MN55416 		NONE PC GENERAL OPERATING SUPPORT 5,000

MINNEAPOLIS JEWISH FEDERATION

4330 SOUTH CEDAR LAKE ROAD SOUTH
MINNEAPOLIS,MN55416 		NONE PC 2023 COMMUNITY CAMPAIGN 100,000

MINNESOTA HISTORICAL SOCIETY

345 KELLOGG BOULEVARD WEST
ST PAUL,MN55102 		NONE PC GENERAL OPERATING SUPPORT 10,000

MINNESOTA PRIVATE COLLEGE FUND

445 MINNESOTA STREET STE 500
ST PAUL,MN551012123 		NONE PC EDDIE PHILLIPS SCHOLARSHIP FOR AFRICAN AMERICAN MEN 2023-2025 COHORT 220,000

MINNESOTA PRIVATE COLLEGE FUND

445 MINNESOTA STREET STE 500
ST PAUL,MN551012123 		NONE PC PHILLIPS SCHOLARS PROGRAM 110,000

MINNESOTA PRIVATE COLLEGE FUND

445 MINNESOTA STREET STE 500
ST PAUL,MN551012123 		NONE PC GENERAL OPERATING SUPPORT 30,000

MINNESOTA PRIVATE COLLEGE FUND

445 MINNESOTA STREET STE 500
ST PAUL,MN551012123 		NONE PC 2022-2024 EDDIE PHILLIPS SCHOLARS 10,000

MINNESOTA PRIVATE COLLEGE FUND

445 MINNESOTA STREET STE 500
ST PAUL,MN551012123 		NONE PC EDDIE PHILLIPS SCHOLARSHIP FOR AFRICAN AMERICAN MEN 2023-2025 COHORT 220,000

MINNESOTA SPAY NEUTER ASSISTANCE PROGRAM

2822 WASHINGTON AVENUE NORTH
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 2,000

MY BLOCK MY HOOD MY CITY

47 WEST POLK STREET SUITE 100
CHICAGO,IL60605 		NONE PC GENERAL OPERATING SUPPORT 10,000

NATIONAL COUNCIL OF JEWISH WOMEN LA

5350 WILSHIRE BLVD 36849
LOS ANGELES,CA90036 		NONE PC GENERAL OPERATING SUPPORT 7,500

NATIVE AMERICAN COMMUNITY CLINIC

1213 EAST FRANKLIN AVENUE
MINNEAPOLIS,MN55404 		NONE PC GENERAL OPERATING SUPPORT 5,000

NEW MOMS

5317 W CHICAGO AVE
CHICAGO,IL60651 		NONE PC GENERAL OPERATING SUPPORT 10,000

NORTHPOINT HEALTH AND WELLNESS CENTER INC

1256 PENN AVENUE NORTH SUITE 5300
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 8,000

NORTHSIDE ACHIEVEMENT ZONE

1964 N 2ND ST
MINNEAPOLIS,MN55411 		NONE PC NORTHSIDE ACHIEVEMENT ZONE GENERAL OPERATING SUPPORT - 541211 40,000

NORTHSIDE ECONOMIC OPPORTUNITY NETWORK

1007 WEST BROADWAY AVENUE N
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 5,000

NORTHSIDE ECONOMIC OPPORTUNITY NETWORK

1007 WEST BROADWAY AVENUE N
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 100,000

OPERATION SMILE INTERNATIONAL

3641 FACULTY BOULEVARD
VIRGINIA BEACH,VA23453 		NONE PC GENERAL OPERATING SUPPORT 2,000

OUR LADY OF THE LAKE

2385 COMMERCE BOULEVARD
MOUND,MN55364 		NONE PC GENERAL OPERATING SUPPORT FOR WESTONKA FOOD SHELF 5,000

PACER CENTER

8161 NORMANDALE BOULEVARD
MINNEAPOLIS,MN55437 		NONE PC GENERAL OPERATING SUPPORT 10,000

PARENTS FAMILIES AND FRIENDS OF LESBIANS AND GAYS INC

1625 K ST NW SUITE 700
WASHINGTON,DC20006 		NONE PC GENERAL OPERATING SUPPORT 7,500

PER SCHOLAS

804 E 138TH STREET 2
BRONX,NY10454 		NONE PC GENERAL OPERATING SUPPORT 5,000

PERSPECTIVES INC

3381 GORHAM AVENUE
ST LOUIS PARK,MN55426 		NONE PC GENERAL OPERATING SUPPORT 10,000

PILLSBURY UNITED COMMUNITIES

3650 FREMONT AVENUE N
MINNEAPOLIS,MN55412 		NONE PC NORTH NEWS 35,000

PLANNED PARENTHOOD LOS ANGELES

400 WEST 30TH STREET
LOS ANGELES,CA90007 		NONE PC GENERAL OPERATING SUPPORT 20,000

PLANNED PARENTHOOD NORTH CENTRAL STATES

671 VANDALIA STREET
ST PAUL,MN55114 		NONE PC GENERAL OPERATING SUPPORT 25,000

POSITIVE IMAGE

9000 KENTUCKY AVE N
BROOKLYN PARK,MN55445 		NONE PC IN SUPPORT OF MOTHER AND SON GALA 1,000

PRO-CHOICE MINNESOTA FOUNDATION

2300 MYRTLE AVENUE SUITE 120
ST PAUL,MN55114 		NONE PC GENERAL OPERATING SUPPORT 20,000

PROJECT ANGEL FOOD

922 VINE STREET
LOS ANGELES,CA90038 		NONE PC GENERAL OPERATING SUPPORT 2,000

REGENTS OF THE UNIVERSITY OF MICHIGAN

3003 SOUTH STATE STREET STE 9000
ANN ARBOR,MI481091288 		NONE PC COMING OUT FUND 1,000

SECOND HARVEST HEARTLAND

7101 WINNETKA AVE N
BROOKLYN PARK,MN55428 		NONE PC GENERAL OPERATING SUPPORT 10,000

SOUTH BAY CENTER FOR COUNSELING

540 NORTH MARINE AVE
WILMINGTON,CA90744 		NONE PC CONTINUED SUPPORT FOR THE ENERGY PATHWAYS PROGRAM 50,000

ST DAVID'S CENTER FOR CHILD AND FAMILY DEVELOPMENT

3395 PLYMOUTH ROAD
MINNETONKA,MN55305 		NONE PC GENERAL OPERATING SUPPORT 10,000

ST JOHN'S UNIVERSITY

PO BOX 7222
COLLEGEVILLE,MN56321 		NONE PC JAY PHILLIPS CENTER FOR INTERFAITH LEARNING 12,000

THE BEST ACADEMY INC

1300 OLSON MEMORIAL HIGHWAY
MINNEAPOLIS,MN55411 		NONE PC GENERAL OPERATING SUPPORT 10,000

THE CONSTELLATION FUND

323 WASHINGTON AVE N SUITE 200
MINNEAPOLIS,MN55401 		NONE PC GENERAL OPERATING SUPPORT 10,000

THE FOOD GROUP

8501 54TH AVENUE NORTH
NEW HOPE,MN55428 		NONE PC GENERAL OPERATING SUPPORT 10,000

THE GRIDIRON CLUB AND FOUNDATION

529 14TH ST NW STE 976
WASHINGTON,DC20045 		NONE PC GENERAL OPERATING SUPPORT 10,000

THE MINNEAPOLIS FOUNDATION

800 IDS CENTER 80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402 		NONE PC ANONYMOUS FUND 10,000

THE MINNEAPOLIS FOUNDATION

800 IDS CENTER 80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402 		NONE PC THE JAY AND ROSE PHILLIPS FAMILY FOUNDATION REAL ESTATE DEVELOPERS FUND 100,000

THE MINNEAPOLIS FOUNDATION

800 IDS CENTER 80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402 		NONE PC PHILLIPS FOUNDATION REAL ESTATE ADVISORY COMMITTEE 197,000

THE MINNEAPOLIS FOUNDATION

800 IDS CENTER 80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402 		NONE PC BELL LOFTS ASSISTANCE - SVP DISCRETIONARY FUND 5,000

THE MINNEAPOLIS FOUNDATION

800 IDS CENTER 80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402 		NONE PC NORTHSIDE FUNDERS GROUP GENERAL OPERATING - 533325 25,000

THE SANNEH FOUNDATION

2090 CONWAY STREET
ST PAUL,MN55119 		NONE PC GENERAL OPERATING SUPPORT 10,000

THE TREVOR PROJECT

PO BOX 69232
WEST HOLLYWOOD,CA90069 		NONE PC GENERAL OPERATING SUPPORT 2,000

THEODORE PAYNE FOUNDATION FOR WILD FLOWERS & NATIVE PLANTS INC

10459 TUXFORD ST
SUN VALLEY,CA91352 		NONE PC GENERAL OPERATING SUPPORT 500

THINK SMALL

10 YORKTON COURT
ST PAUL,MN55117 		NONE PC GENERAL OPERATING SUPPORT 4,000

TORAH ACADEMY

2800 JOPPA AVENUE SOUTH
ST LOUIS PARK,MN55416 		NONE PC GENERAL OPERATING SUPPORT 10,000

USVETS

800 WEST SIXTH STREET SUITE 1505
LOS ANGELES,CA90017 		NONE PC GENERAL OPERATING SUPPORT 2,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE SUITE 500
MINNEAPOLIS,MN55455 		NONE PC NEAL C. NICKERSON JR. FUND FOR STUDENT SUPPORT IN EDUCATIONAL ADMINISTRATION 1,000

UNIVERSITY OF ST THOMAS

PO BOX 64947
ST PAUL,MN55164 		NONE PC JAY PHILLIPS CENTER FOR INTERRELIGIOUS STUDIES 12,000

URBAN HOMEWORKS

927 W BROADWAY AVE SUITE 301
MINNEAPOLIS,MN55411 		NONE PC IN SUPPORT OF URBAN HOMEWORKS PERPETUATE THE HOPE FUNDRAISER 1,800

VILLAGE HEALTH WORKS

45 W 36TH STREET 8TH FLOOR
NEW YORK,NY10018 		NONE PC GENERAL OPERATING SUPPORT 10,000

VISION LOSS RESOURCES

3230 SPRUCE STREET
LITTLE CANADA,MN55117 		NONE PC GENERAL OPERATING SUPPORT 15,000

VOCALESSENCE

1900 NICOLLET AVENUE
MINNEAPOLIS,MN55403 		NONE PC GENERAL OPERATING SUPPORT 5,000

WOMEN IN NON TRADITIONAL EMPLOYMENT ROLES

29000 S WESTERN AVE STE 301
RANCHO PALOS VERDES,CA90275 		NONE PC GENERAL OPERATING SUPPORT 65,000

WORLD CONNECT INC

632 BROADWAY SUITE 901
NEW YORK,NY10012 		NONE PC GENERAL OPERATING SUPPORT 10,000

YAYA FOUNDATION FOR 4H LEUKODYSTROPHY

PO BOX 8670
MINNEAPOLIS,MN55408 		NONE PC GENERAL OPERATING SUPPORT 10,000

YOUTH FRONTIERS

5215 EDINA INDUSTRIAL BOULEVARD
SUITE 400
MINNEAPOLIS,MN55439 		NONE PC GENERAL OPERATING SUPPORT 25,000
Total .................................right arrow 3a 2,570,920
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
aRENT         204,655
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 2,287,360  
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 ............ 		    18 563,007  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aGRANTS REPAID 		    01 10,004  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 2,860,371 204,655
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,065,026
(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 THE JAY & ROSE PHILLIPS FAMILY FOUNDATION OF MINNESOTA OPERATES A REVITALIZED BUILDING IN MINNEAPOLIS. THE HISTORIC BUILDING RENNOVATION NOW HAS OVER 19,000 SQUARE FEET OF RETAIL AND OFFICE SPACE. THIS PROJECT TOOK AN OLD RUN DOWN BUILDING AND TURNED IT BACK INTO A LIVELY PLACE THAT BENEFITS THE NEIGHBORHOOD AND THE CITY OF MINNEAPOLIS. THIS PROJECT FALLS IN LINE WITH THE FOUNDATION'S MISSION TO HELP REVITALIZE AND STRENGTHEN NORTHERN MINNEAPOLIS.
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:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 25,212 15,127 0 10,085

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Name of Bond End of Year Book Value End of Year Fair Market Value
AB GLOBAL BOND FUND CL I 5,482,190 4,539,039
BERNSTEIN INTER DURATION INSTITUTIONAL PORTFOLIO 5,391,765 4,478,451

TY 2023 InvestmentsCorpStockSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Name of Stock End of Year Book Value End of Year Fair Market Value
AB CAP FD INC GLOBAL CORE EQUITY PORTFOLIO ADV CL 4,827,107 5,672,126
AB SUST INTL THEMATIC FUND ADV CL 4,538,467 4,798,171
ABBOTT LABORATORIES 96,793 88,056
ACCENTURE PLC IRELAND 109,447 122,468
ADOBE INC 115,265 139,604
ALLIANT ENERGY CORP 106,791 94,751
ALPHABET INC-CL C 211,208 394,040
AMAZON.COM INC 255,869 244,168
AMERICAN WATER WORKS CO INC 88,391 78,930
APPLE INC 374,401 511,360
ARES MANAGEMENT CORP - A 35,609 52,325
ASML HOLDING NV 57,278 74,935
BRISTOL MYERS SQUIBB CO 79,550 65,420
BROADCOM INC 127,427 305,853
BUILDERS FIRSTSOURCE INC 64,046 85,473
CBRE GROUP INC - A 89,426 100,723
CENTENE CORP DEL 90,280 77,549
CHARLES SCHWAB CORP NEW 102,800 97,971
COMCAST CORP-CLASS A 137,602 114,098
COSTCO WHOLESALE CORP 72,287 148,518
CUBESMART 82,287 94,925
DYCOM INDUSTRIES INC 46,013 56,854
EATON CORPORATION PLC 92,710 137,027
ELEVANCE HEALTH INC 77,267 99,499
GEN DIGITAL INC 91,526 76,972
GOLDMAN SACHS GROUP INC 106,652 104,158
HCA HEALTHCARE INC 66,756 74,978
IDEXX LABORATORIES CORP 31,951 51,065
IQVIA HOLDINGS INC 117,339 112,913
ISHARES CORE MSCI TOTAL INTL STOCK ETF 3,492,159 4,342,973
ISHARES CORE MSCI EMERGING MARTKETS ETF 580,720 635,285
ISHARES CORE S&P 500 ETF 7,041,961 9,900,315
JP MORGAN CHASE & CO 156,664 200,718
LABORATORY CORP AMER HLDGS 45,375 48,185
LAM RESEARCH CORP 43,591 68,144
LOWE'S COMPANIES INC 92,050 130,414
MASTERCARD INC - A 236,328 270,834
MERCK & CO, INC. 116,903 161,786
MICROSOFT CORP 368,479 718,236
MORGAN STANLEY 125,495 111,714
MOTOROLA SOLUTIONS INC 90,172 126,175
NESTLE SA-SPONS ADR 106,759 107,189
NIKE INC -CL B 45,212 63,079
NORFOLK SOUTHERN CORP 79,801 72,805
NVIDIA CORP 67,767 153,518
OTIS WORLDWIDE CORP 106,275 136,084
PROGRESSIVE CORP - OHIO 102,257 144,467
QUALCOMM INC 69,998 80,704
ROBERT HALF INC 43,322 50,730
SBA COMMUNICATIONS CORP NEW 82,151 66,467
SENSATA TECHNOLOGIES 78,392 58,534
T MOBILE US INC 66,863 76,477
TAPESTRY INC 55,755 60,111
THERMO FISCHER SCIENTIFIC INC 147,904 146,498
TJX COMPANIES INC NEW 33,698 34,710
UNITEDHEALTH GROUP INC 113,175 144,253
VERTEX PHARMACEUTICALS INC 53,324 104,164
W W GRAINGER INC 58,041 101,100
WALMART INC 176,736 192,964
WASTE MANAGEMENT INC DEL 116,718 127,877
WILLIS TOWERS WATSON PUBLIC 73,408 85,867
ZEBRA TECHNOLOGIES CORP - CL A 43,676 31,706

TY 2023 InvestmentsOtherSchedule2
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AB MULTI-MANAGER ALTERNATIVE FUND AT COST 4,341,690 4,264,491
AB PRIVATE CREDIT INVESTORS MIDDLE MARKET DIRECT LENDING FUND II, FEEDER, LP AT COST 1,484,331 1,383,574
ABRAAJ LATIN AMERICA FUND II PRIVATE AT COST 566,449 738,224
ALLIANCEBERNSTEIN SECURITIZED ASSETS FUND (CAYMAN), L.P. AT COST 2,929,256 2,775,396
BENEFIT STREET PARTNERS IV AT COST 931,290 840,945
BLACKSTONE REAL ESTATE VII PRIVATE INVESTORS LP AT COST 168,487 173,259
BREP ASIA PRIVATE INV OFFSHORE LP AT COST 90,167 138,704
CERBERUS VI PRIVATE INVESTORS OFFSHORE LP AT COST 297,106 711,389
GIF IV PRIVATE INVESTORS OFFSHORE LP: AT COST 169,888 21,927
HPS MEZZANNINE PRIVATE INVESTORS OFFSHORE II AT COST 173,971 15,239
HPS MEZZANNINE PRIVATE INVESTORS OFFSHORE III AT COST 361,949 688,636
PEG DIGITAL GROWTH FUND AT COST 385,338 12,625
PEG DIGITAL GROWTH OFFSHORE SPECIAL AT COST 446,774 154,066
RS GLOBAL ENERGY & POWER PRIVATE INVESTORS OFFSHORE AT COST 706,201 489,347
SOUTHPAW CREDIT OPPORTUNITY FUND CLASS C AT COST 13,071 33,545
VINTAGE EUROPEAN OPPORTUNITY FUND OFFSHORE LP AT COST 329,111 451,879
YORK CREDIT OPPORTUNITIES UNIT TRUST AT COST 95,246 61,725

TY 2023 LegalFeesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 31,515 0 0 31,515


TY 2023 OtherExpensesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INFORMATION TECHNOLOGY 7,672 0 0 7,672
INSURANCE 3,932 0 0 3,932
OFFICE EXPENSES 21,219 0 0 21,219
MISC EXPENSE 18,360 0 0 18,360
ADVERTISING 280 0 0 280
MEMBERSHIP 9,550 0 0 9,550
BANK FEES 20 20 0 20
EQUIPMENT RENTAL 458 0 0 458
SUBSCRIPTION AND PUBLICATIONS 202 0 0 202


TY 2023 OtherIncomeSchedule2
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
RENT 204,655 204,655 0
GRANTS REPAID 10,004   10,004


TY 2023 OtherIncreasesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Description Amount
ADJUST TO ACTUAL 478,298


TY 2023 OtherLiabilitiesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Description Beginning of Year - Book Value End of Year - Book Value
TENANT SECURITY DEPOSITS 4,599 10,227
927 CONSTRUCTION INVOICE 678,931 0


TY 2023 OtherProfessionalFeesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 216,079 216,079 0 0
CONSULTING 1,017,592 0 0 1,017,592
MANAGEMENT FEES 20,400 20,400 8,988 11,412


TY 2023 TaxesSchedule
Name:
THE JAY AND ROSE PHILLIPS FAMILY
 
FOUNDATION OF MINNESOTA
EIN:
27-4196509
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 18,100 0 0 0
FOREIGN TAX 16,724 16,724 0 0