TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
BOE BROTHERS FOUNDATION
D A DAVIDSON TRUST CO

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2309
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
GREAT FALLS, MT594032309

A Employer identification number

84-1378691

B Telephone number (see instructions)

(406) 791-7324

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$5,262,332J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	24,043		24,043
4	Dividends and interest from securities...	93,744		93,744
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		955,865
b	Gross sales price for all assets on line 6a 5,874,854
7	Capital gain net income (from Part IV, line 2)...			955,865
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).......
12	Total. Add lines 1 through 11........	1,073,652		1,073,652
13	Compensation of officers, directors, trustees, etc.	61,569		20,502	20,502
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	1,320	440	440
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	2,913	1,059	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	65,802		22,001	20,942
25	Contributions, gifts, grants paid.......	281,571			281,571
26	Total expenses and disbursements. Add lines 24 and 25	347,373		22,001	302,513
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	726,279
b	Net investment income (if negative, enter -0-)			1,051,651
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	418,305	348,999	358,369
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	739,490	List of Attached Documents: // Content 793,445	813,531
	b	Investments—corporate stock (attach schedule).......	1,514,911	List of Attached Documents: // Content 2,956,891	3,137,331
	c	Investments—corporate bonds (attach schedule).......	1,629,641	List of Attached Documents: // Content 919,875	930,560
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	List of Attached Documents: // Content 13,125	List of Attached Documents: // Content 22,541	List of Attached Documents: // Content 22,541
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,315,472	5,041,751	5,262,332
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	4,315,472	5,041,751
	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).....	4,315,472	5,041,751
	30	Total liabilities and net assets/fund balances (see instructions).	4,315,472	5,041,751

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

4,315,472

Enter amount from Part I, line 27a .....................

726,279

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

5,041,751

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

5,041,751

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	ARROW ELECTRONICS INC 4.5% 03/01/23-22		2022-11-04	2023-03-01
b	AVALONBAY CMNTYS MTN 4.2% 12/15/23-23		2022-11-30	2023-11-14
c	BOEING CO SR 1.433% 02/04/24-23		2023-02-07	2023-11-14
d	LAS VEGAS SANDS CORP SR 3.2% 08/08/24-24		2023-10-05	2023-11-14
e	LENNAR CORP SR 4.5% 04/30/24-24		2022-02-24	2023-01-17
	ORACLE CORP 2.8% 04/01/27-27		2023-03-02	2023-07-13
	SPLUNK INC		2023-11-22	2023-12-18
	SPRINT CORP 7.875% 09/15/23		2023-03-02	2023-09-15
	U S TREASURY NOTE 3.25% 06/30/27		2022-07-06	2023-04-12
	U S TREASURY NOTE 3.25% 06/30/27		2022-09-22	2023-04-12
	U S TREASURY NOTE 3.25% 06/30/27		2023-01-13	2023-04-12
	U S TREASURY NOTE 3.25% 06/30/27		2023-01-27	2023-04-12
	U S TREASURY NOTE 1.875% 06/30/26		2022-08-17	2023-05-18
	U S TREASURY NOTE 2.125% 11/30/24		2023-09-15	2023-10-05
	U S TREASURY NOTE 3.125% 11/15/28		2023-01-13	2023-10-17
	U S BANCORP UNSECD MTN 4.548% 07/22/28		2023-05-18	2023-11-14
	U S TREASURY NOTE 3.75% 06/30/30		2023-07-13	2023-11-14
	U S TREASURY NOTE 3.375% 05/15/33		2023-07-13	2023-11-14
	U S TREASURY NOTE 3.125% 11/15/28		2023-01-13	2023-11-14
	U S TREASURY NOTE 2.875% 06/15/25		2023-08-30	2023-11-14
	U S TREASURY NOTE 2.875% 06/15/25		2023-09-20	2023-11-14
	VERTEX PHARMACEUTICALS INC		2023-11-22	2023-11-27
	WILLIAMS COMPANIES SR 4.55% 06/24/24-24		2023-09-20	2023-11-14
	U S TREASURY BILL 09/14/23		2023-08-02	2023-09-14
	ALLY FINL INC SR NOTE 5.80% 05/01/25-25		2021-08-13	2023-11-14
	ALLY FINL INC SR NOTE 5.80% 05/01/25-25		2021-11-10	2023-11-14
	BLACK HILLS CORP 3.95% 01/15/26-25		2020-03-09	2023-04-12
	BROCKTON, MA TXBL 1.618% 11/01/26		2021-10-21	2023-11-14
	CENTENE CORP DE SR 4.625% 12/15/29-24-27		2021-07-08	2023-11-14
	IHS MARKIT LTD SR 4.125% 08/01/23-23		2019-05-21	2023-08-01
	IHS MARKIT LTD SR 4.125% 08/01/23-23		2021-11-10	2023-08-01
	IHS MARKIT LTD SR NOTE 4.75% 08/01/28-28		2020-12-08	2023-11-14
	LENNAR CORP SR 4.5% 04/30/24-24		2022-02-24	2023-11-14
	LENNAR CORP SR 4.5% 04/30/24-24		2022-09-22	2023-11-14
	QORVO INC SR 4.375% 10/15/29-24		2021-07-08	2023-11-14
	U S TREASURY NOTE 1.50% 02/15/30		2021-07-08	2023-02-07
	U S TREASURY NOTE 2.65% 02/15/29		2019-10-24	2023-03-02
	U S TREASURY NOTE 2.65% 02/15/29		2021-07-08	2023-03-02
	U S TREASURY NOTE 1.125% 02/15/31		2021-11-15	2023-11-14
	U S TREASURY NOTE 2.875 05/15/32		2022-07-19	2023-11-14
	U S TREASURY BOND 5.375% 02/15/31		2022-09-27	2023-11-14
	U S TREASURY NOTE 3.25% 06/30/29		2022-07-19	2023-11-14
	U S TREASURY NOTE 1.50% 02/15/30		2021-07-08	2023-11-14
	T ROWE PRICE BLUE CHIP GROWTH		2011-03-03	2023-11-14
	AGNC INVESTMENT CORP		2023-04-14	2023-11-14
	BATH & BODY WORKS INC		2022-03-25	2023-03-21
	BOEING CO		2022-06-07	2023-02-17
	CVS HEALTH CORPORATION		2023-05-19	2023-11-14
	DIAMONDBACK ENERGY INC		2023-02-09	2023-11-14
	ELANCO ANIMAL HEALTH INC		2023-03-07	2023-11-14
	ELANCO ANIMAL HEALTH INC		2023-03-21	2023-11-14
	ELANCO ANIMAL HEALTH INC		2023-05-19	2023-11-14
	FIDELITY NATL INFORMATION SVCS		2022-03-17	2023-03-15
	INTL FLAVOR & FRAGRANCES		2023-03-22	2023-11-14
	LABORATORY CORP OF AMERICA		2023-07-06	2023-11-14
	MEDTRONIC PLC SHS		2023-03-21	2023-11-14
	NORFOLK SOUTHERN CORP		2023-02-17	2023-11-14
	RAYTHEON TECHS CORP		2023-07-27	2023-11-14
	SCHWAB CHARLES CORP NEW		2023-03-13	2023-11-14
	SCHWAB CHARLES CORP NEW		2023-05-18	2023-11-14
	TRIMBLE INC		2023-02-21	2023-11-14
	ADOBE INC		2022-03-10	2023-11-14
	ADOBE INC		2022-10-06	2023-11-14
	ALPHABET INC CAP STK CL C		2012-04-16	2023-11-14
	ALPHABET INC CAP STK CL C		2014-12-08	2023-11-14
	ALPHABET INC CAP STK CL C		2017-03-30	2023-11-14
	ALPHABET INC CAP STK CL C		2018-11-29	2023-11-14
	AMAZON.COM INC		2020-03-10	2023-11-14
	AMAZON.COM INC		2021-07-21	2023-11-14
	AMAZON.COM INC		2022-03-03	2023-11-14
	AMAZON.COM INC		2022-05-02	2023-11-14
	APPLE INC		2013-04-17	2023-11-14
	APPLE INC		2013-06-26	2023-11-14
	BANK OF AMERICA CORP		2017-01-04	2023-11-14
	BANK OF AMERICA CORP		2017-01-25	2023-11-14
	BANK OF AMERICA CORP		2017-08-24	2023-11-14
	BATH & BODY WORKS INC		2021-11-04	2023-03-21
	BATH & BODY WORKS INC		2022-01-10	2023-03-21
	BOEING CO		2022-06-07	2023-11-14
	BOEING CO		2022-08-19	2023-11-14
	BOEING CO		2022-09-30	2023-11-14
	CHEVRON CORP		2014-08-22	2023-11-14
	CHEVRON CORP		2016-02-12	2023-11-14
	CHEVRON CORP		2016-05-13	2023-11-14
	CHEVRON CORP		2017-04-11	2023-11-14
	CHEVRON CORP		2021-07-20	2023-11-14
	CISCO SYSTEMS INC		2017-08-18	2023-02-21
	CISCO SYSTEMS INC		2017-08-18	2023-11-14
	CISCO SYSTEMS INC		2017-10-13	2023-11-14
	COLUMBIA BANKING SYSTEMS INC		2021-11-15	2023-11-14
	COLUMBIA BANKING SYSTEMS INC		2022-01-21	2023-11-14
	COLUMBIA BANKING SYSTEMS INC		2022-04-01	2023-11-14
	COLUMBIA BANKING SYSTEMS INC		2022-05-24	2023-11-14
	COMCAST CORP CLASS A		2016-02-23	2023-01-23
	COMCAST CORP CLASS A		2016-02-23	2023-07-27
	COMCAST CORP CLASS A		2017-11-17	2023-07-27
	COMCAST CORP CLASS A		2017-11-17	2023-11-14
	COMCAST CORP CLASS A		2018-04-02	2023-11-14
	COMCAST CORP CLASS A		2020-04-22	2023-11-14
	COMCAST CORP CLASS A		2022-05-02	2023-11-14
	COMCAST CORP CLASS A		2022-09-27	2023-11-14
	CVS HEALTH CORPORATION		2019-03-14	2023-11-14
	CVS HEALTH CORPORATION		2019-05-03	2023-11-14
	CVS HEALTH CORPORATION		2019-06-20	2023-11-14
	CVS HEALTH CORPORATION		2020-08-21	2023-11-14
	FIDELITY NATL INFORMATION SVCS		2020-02-28	2023-03-15
	FIDELITY NATL INFORMATION SVCS		2020-03-11	2023-03-15
	FIDELITY NATL INFORMATION SVCS		2020-10-06	2023-03-15
	FIDELITY NATL INFORMATION SVCS		2021-02-05	2023-03-15
	FIRST INTERSTATE BANCSYSTEM CL A		2021-11-16	2023-11-14
	FIRST INTERSTATE BANCSYSTEM CL A		2022-02-03	2023-11-14
	FIRST INTERSTATE BANCSYSTEM CL A		2022-02-23	2023-11-14
	FIRST INTERSTATE BANCSYSTEM CL A		2022-05-02	2023-11-14
	FORTREA HOLDINGS INC		2020-04-17	2023-07-06
	HONEYWELL INTERNATIONAL INC		2020-03-10	2023-11-14
	HONEYWELL INTERNATIONAL INC		2022-03-25	2023-11-14
	JOHNSON AND JOHNSON		2011-04-13	2023-11-14
	JOHNSON AND JOHNSON		2011-05-13	2023-11-14
	JOHNSON AND JOHNSON		2012-03-30	2023-11-14
	JOHNSON AND JOHNSON		2019-11-04	2023-11-14
	LABORATORY CORP OF AMERICA		2020-04-17	2023-02-17
	LABORATORY CORP OF AMERICA		2020-04-17	2023-11-14
	LAS VEGAS SANDS CORP		2015-05-06	2023-02-15
	LAS VEGAS SANDS CORP		2015-09-21	2023-02-15
	LAS VEGAS SANDS CORP		2015-09-21	2023-11-14
	LAS VEGAS SANDS CORP		2017-02-10	2023-11-14
	LAS VEGAS SANDS CORP		2020-03-18	2023-11-14
	LAS VEGAS SANDS CORP		2020-09-15	2023-11-14
	LAS VEGAS SANDS CORP		2021-07-20	2023-11-14
	LAS VEGAS SANDS CORP		2022-05-02	2023-11-14
	MDU RESOURCES GROUP INC		2020-06-19	2023-05-18
	MDU RESOURCES GROUP INC		2020-11-06	2023-05-18
	MDU RESOURCES GROUP INC		2022-02-17	2023-05-18
	MEDTRONIC PLC SHS		2020-10-27	2023-11-14
	MEDTRONIC PLC SHS		2021-02-05	2023-11-14
	MEDTRONIC PLC SHS		2021-10-20	2023-11-14
	MICROSOFT CORP		2015-06-09	2023-04-28
	MICROSOFT CORP		2015-06-09	2023-06-21
	MICROSOFT CORP		2015-06-09	2023-11-14
	MICROSOFT CORP		2016-04-28	2023-11-14
	MOSAIC CO		2020-02-28	2023-11-14
	NORFOLK SOUTHERN CORP		2020-04-08	2023-11-14
	PFIZER INC		2012-09-07	2023-11-14
	PFIZER INC		2014-06-23	2023-11-14
	PFIZER INC		2015-06-15	2023-11-14
	PFIZER INC		2016-02-18	2023-11-14
	PHILIP MORRIS INTL INC		2013-08-19	2023-11-14
	PHILIP MORRIS INTL INC		2015-03-26	2023-11-14
	PHILIP MORRIS INTL INC		2018-03-23	2023-11-14
	PHILIP MORRIS INTL INC		2018-04-24	2023-11-14
	PHILIP MORRIS INTL INC		2018-09-26	2023-11-14
	PHILIP MORRIS INTL INC		2020-10-20	2023-11-14
	SEMPRA ENERGY		2021-02-26	2023-11-14
	SEMPRA ENERGY		2021-07-20	2023-11-14
	SOUTHERN COMPANY		2017-05-10	2023-11-14
	SOUTHERN COMPANY		2017-07-03	2023-11-14
	SOUTHERN COMPANY		2017-08-04	2023-11-14
	SOUTHERN COMPANY		2018-05-23	2023-11-14
	SOUTHERN COMPANY		2020-05-01	2023-11-14
	STARBUCKS CORP		2018-06-25	2023-11-14
	STARBUCKS CORP		2018-08-22	2023-11-14
	TERRENO REALTY CORP (REIT)		2020-03-24	2023-11-14
	TERRENO REALTY CORP (REIT)		2020-05-12	2023-11-14
	TERRENO REALTY CORP (REIT)		2020-05-19	2023-11-14
	TERRENO REALTY CORP (REIT)		2020-10-30	2023-11-14
	TERRENO REALTY CORP (REIT)		2021-01-14	2023-11-14
	TRIMBLE INC		2022-02-11	2023-11-14
	TRIMBLE INC		2022-08-31	2023-11-14
	WALMART INC		2015-10-30	2023-04-13
	WALMART INC		2015-10-30	2023-11-14
	WALMART INC		2017-03-22	2023-11-14
	WALMART INC		2022-06-01	2023-11-14
	ANALOG DEVICES INC		2010-02-04	2023-11-14
	ANALOG DEVICES INC		2008-12-23	2023-11-14
	DODGE & COX INTERNATIONAL STOCK		2019-03-28	2023-11-14
	ISHARES MSCI EAFE INTL INDEX INSTL CL		2015-11-04	2023-11-14
	ISHARES MSCI EAFE INTL INDEX INSTL CL		2019-03-28	2023-11-14
	LAZARD INTL EQUITY INSTL CL		2016-08-23	2023-11-14
	LAZARD INTL EQUITY INSTL CL		2019-03-28	2023-11-14
	DODGE & COX INTERNATIONAL STOCK		2011-03-16	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2022-12-28	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2016-01-22	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2016-12-08	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2017-12-07	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2018-12-07	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2019-12-06	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2020-12-09	2023-11-14
	CLEARBRIDGE SMALL CAP GROWTH I		2021-12-06	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2016-01-22	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2016-12-27	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2016-12-27	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2017-12-26	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2018-12-26	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2019-01-25	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2019-12-26	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2021-12-28	2023-11-14
	FOUNDRY PARTNERS SM CAP VALUE INST		2021-12-28	2023-11-14
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	60,000	60,000	0
b	59,901	59,951	-50
c	79,170	79,356	-186
d	68,358	68,195	163
e	29,840	30,638	-798
	73,692	72,797	895
	9,118	9,097	21
	80,000	80,000	0
	49,359	50,593	-1,234
	9,872	9,736	136
	9,872	9,833	39
	9,872	9,828	44
	84,779	86,668	-1,889
	67,487	67,486	1
	41,430	43,981	-2,551
	76,008	77,071	-1,063
	65,190	67,400	-2,210
	36,647	38,652	-2,005
	32,908	34,218	-1,310
	38,727	38,740	-13
	29,045	28,975	70
	13,657	13,747	-90
	49,530	49,586	-56
	69,565	70,000	-435
	78,950	84,916	-5,966
	19,738	21,142	-1,404
	68,298	73,384	-5,086
	98,266	110,000	-11,734
	96,727	110,072	-13,345
	70,000	70,000	0
	30,000	30,000	0
	43,507	56,656	-13,149
	49,689	50,396	-707
	9,938	9,976	-38
	93,375	109,396	-16,021
	52,062	61,173	-9,111
	50,183	57,759	-7,576
	41,059	48,899	-7,840
	87,974	106,783	-18,809
	79,889	89,114	-9,225
	84,650	86,716	-2,066
	84,505	90,630	-6,125
	42,014	50,875	-8,861
	774,250	213,406	560,844
	19,324	22,173	-2,849
	5,725	8,125	-2,400
	5,283	3,495	1,788
	9,307	9,372	-65
	25,521	22,765	2,756
	15,513	14,520	993
	9,887	8,350	1,537
	13,070	9,949	3,121
	9,168	17,093	-7,925
	17,229	19,820	-2,591
	5,819	5,875	-56
	7,268	8,068	-800
	7,575	8,420	-845
	22,695	23,853	-1,158
	19,622	18,421	1,201
	11,608	10,843	765
	6,169	7,728	-1,559
	31,968	23,262	8,706
	24,127	11,950	12,177
	27,241	3,016	24,225
	13,682	2,622	11,060
	30,010	9,153	20,857
	21,825	8,692	13,133
	41,005	26,154	14,851
	23,432	28,580	-5,148
	14,645	14,958	-313
	14,645	12,071	2,574
	6,936	534	6,402
	73,482	5,567	67,915
	15,771	12,393	3,378
	18,691	14,982	3,709
	9,053	7,406	1,647
	15,385	32,701	-17,316
	5,188	8,398	-3,210
	17,682	11,883	5,799
	11,442	8,967	2,475
	11,442	6,688	4,754
	3,766	3,305	461
	12,311	7,236	5,075
	10,863	7,567	3,296
	17,381	13,077	4,304
	12,311	8,219	4,092
	5,986	3,674	2,312
	24,963	14,392	10,571
	14,075	8,898	5,177
	17,497	28,119	-10,622
	5,720	9,015	-3,295
	5,608	7,810	-2,202
	5,945	7,557	-1,612
	10,243	7,351	2,892
	3,169	2,018	1,151
	7,696	6,230	1,466
	4,006	3,482	524
	8,222	6,530	1,692
	9,487	8,054	1,433
	9,698	9,220	478
	9,276	6,649	2,627
	4,826	3,918	908
	6,894	5,682	1,212
	10,685	8,363	2,322
	8,617	7,985	632
	6,112	16,489	-10,377
	2,292	6,077	-3,785
	2,547	7,272	-4,725
	3,565	9,328	-5,763
	11,093	19,071	-7,978
	5,738	8,232	-2,494
	5,355	8,142	-2,787
	6,885	9,159	-2,274
	4,012	2,437	1,575
	25,254	21,157	4,097
	14,241	14,789	-548
	6,640	2,697	3,943
	19,183	8,642	10,541
	12,543	5,626	6,917
	8,116	7,234	882
	7,704	4,384	3,320
	24,109	14,513	9,596
	1,698	1,556	142
	8,770	6,919	1,851
	490	446	44
	8,334	8,974	-640
	4,167	3,165	1,002
	6,128	6,556	-428
	7,354	7,192	162
	12,011	8,895	3,116
	21,159	15,545	5,614
	9,855	7,877	1,978
	11,014	10,527	487
	14,900	21,626	-6,726
	10,176	16,562	-6,386
	6,178	10,384	-4,206
	10,693	1,601	9,092
	10,043	1,373	8,670
	37,717	4,667	33,050
	53,618	7,267	46,351
	13,706	6,356	7,350
	25,796	20,038	5,758
	5,664	4,403	1,261
	7,228	6,839	389
	7,228	7,890	-662
	6,048	5,817	231
	906	853	53
	7,250	6,134	1,116
	8,609	9,335	-726
	7,703	6,945	758
	8,156	7,240	916
	8,156	6,623	1,533
	25,158	20,435	4,723
	8,626	7,906	720
	5,821	4,239	1,582
	342	239	103
	8,561	6,099	2,462
	18,149	11,648	6,501
	9,246	7,345	1,901
	527	252	275
	27,936	14,013	13,923
	7,270	5,867	1,403
	7,829	6,881	948
	8,389	7,230	1,159
	7,550	7,594	-44
	8,109	8,060	49
	15,104	23,899	-8,795
	4,893	7,281	-2,388
	8,973	3,479	5,494
	15,908	5,508	10,400
	17,582	7,377	10,205
	15,908	11,952	3,956
	19,588	3,040	16,548
	26,250	2,746	23,504
	37,419	32,000	5,419
	149,652	128,076	21,576
	50,905	45,000	5,905
	109,264	118,198	-8,934
	53,741	58,000	-4,259
	169,304	121,986	47,318
	33,095	30,521	2,574
	102,429	72,355	30,074
	9,487	7,838	1,649
	10,449	10,057	392
	43,083	40,850	2,233
	18,632	19,624	-992
	17,897	24,301	-6,404
	22,237	31,040	-8,803
	176,169	133,363	42,806
	687	734	-47
	5,556	5,937	-381
	7,872	8,698	-826
	25,602	20,972	4,630
	43,612	39,899	3,713
	6,621	6,499	122
	7,310	7,963	-653
	33,136	36,095	-2,959
	51		51

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			0
b			-50
c			-186
d			163
e			-798
			895
			21
			0
			-1,234
			136
			39
			44
			-1,889
			1
			-2,551
			-1,063
			-2,210
			-2,005
			-1,310
			-13
			70
			-90
			-56
			-435
			-5,966
			-1,404
			-5,086
			-11,734
			-13,345
			0
			0
			-13,149
			-707
			-38
			-16,021
			-9,111
			-7,576
			-7,840
			-18,809
			-9,225
			-2,066
			-6,125
			-8,861
			560,844
			-2,849
			-2,400
			1,788
			-65
			2,756
			993
			1,537
			3,121
			-7,925
			-2,591
			-56
			-800
			-845
			-1,158
			1,201
			765
			-1,559
			8,706
			12,177
			24,225
			11,060
			20,857
			13,133
			14,851
			-5,148
			-313
			2,574
			6,402
			67,915
			3,378
			3,709
			1,647
			-17,316
			-3,210
			5,799
			2,475
			4,754
			461
			5,075
			3,296
			4,304
			4,092
			2,312
			10,571
			5,177
			-10,622
			-3,295
			-2,202
			-1,612
			2,892
			1,151
			1,466
			524
			1,692
			1,433
			478
			2,627
			908
			1,212
			2,322
			632
			-10,377
			-3,785
			-4,725
			-5,763
			-7,978
			-2,494
			-2,787
			-2,274
			1,575
			4,097
			-548
			3,943
			10,541
			6,917
			882
			3,320
			9,596
			142
			1,851
			44
			-640
			1,002
			-428
			162
			3,116
			5,614
			1,978
			487
			-6,726
			-6,386
			-4,206
			9,092
			8,670
			33,050
			46,351
			7,350
			5,758
			1,261
			389
			-662
			231
			53
			1,116
			-726
			758
			916
			1,533
			4,723
			720
			1,582
			103
			2,462
			6,501
			1,901
			275
			13,923
			1,403
			948
			1,159
			-44
			49
			-8,795
			-2,388
			5,494
			10,400
			10,205
			3,956
			16,548
			23,504
			5,419
			21,576
			5,905
			-8,934
			-4,259
			47,318
			2,574
			30,074
			1,649
			392
			2,233
			-992
			-6,404
			-8,803
			42,806
			-47
			-381
			-826
			4,630
			3,713
			122
			-653
			-2,959
			51

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	955,865
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 ...................		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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	14,618
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	14,618
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	14,618
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	15,586
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	15,586
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	968
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax968	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

D A DAVIDSON TRUST CO Telephone no. right arrow

(406) 791-7324

Located at right arrow

DAVIDSON BLDG 8 3RD ST NGREAT FALLSMT ZIP+4 right arrow

59403

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
D A DAVIDSON TRUST CO	TRUSTEE 20.00	61,569	0	0
PO BOX 2309 GREAT FALLS,MT59403	TRUSTEE 20.00	61,569	0	0

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...................				0

Form 990-PF (2023)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

4,708,214

Average of monthly cash balances.......................

371,251

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

5,079,465

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

5,079,465

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

76,192

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

5,003,273

Minimum investment return. Enter 5% (0.05) of line 5................

250,164

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.)

Minimum investment return from Part IX, line 6..................

250,164

Tax on investment income for 2022 from Part V, line 5.......

14,618

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

14,618

Distributable amount before adjustments. Subtract line 2c from line 1............

235,546

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

235,546

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

235,546

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

302,513

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

302,513

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					235,546
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......	17,430
b From 2019......	21,059
c From 2020......	26,172
d From 2021......	4,032
e From 2022......	54,118
f Total of lines 3a through e ........		122,811
4Qualifying distributions for 2023 from Part
XI, line 4: $ 302,513
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.....					235,546
e Remaining amount distributed out of corpus		66,967
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		189,778
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) ...		17,430
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		172,348
10 Analysis of line 9:
a Excess from 2019....	21,059
b Excess from 2020....	26,172
c Excess from 2021....	4,032
d Excess from 2022....	54,118
e Excess from 2023....	66,967

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

TERRI BOWERS
P O BOX 2309
GREAT FALLS,MT59403
(406) 791-7324

bThe form in which applications should be submitted and information and materials they should include:

LETTER

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

QUALIFIED 501(C)(3) ORGANIZATIONS LOCATED IN THE NORTH CENTRAL PORTION OF MONTANA GENERALLY REFERRED TO AS THE "GOLDEN TRIANGLE OR "RUSSELL COUNTRY".

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
BENEFIS TETON MEDICAL CENTER FOUNDATION 915 4TH ST NW CHOTEAU,MT59422	NONE	N/A	PROGRAMS	3,000
BIG SANDY CULTURAL FUND 533 3RD AVE BIG SANDY,MT59520	NONE	N/A	PROGRAMS	3,000
CHOTEAU HIGH SCHOOL 204 7TH AVE NW CHOTEAU,MT59422	NONE	N/A	FCCLA PROGRAM AND SCHOLARSHIPS	6,000
CHOTEAU SENIOR CITIZENS CENTER 29 N MAIN AVE CHOTEAU,MT59422	NONE	N/A	PROGRAMS	1,084
CONCORDIA COLLEGE 901 8TH ST S MOORHEAD,MN56562	NONE	N/A	SCHOLARSHIPS	56,314
DUTTON SENIOR CITIZENS 129 MAIN ST W DUTTON,MT59433	NONE	N/A	PROGRAMS	1,084
DUTTONBRADY PUBLIC SCHOOL 101 2ND ST NE DUTTON,MT59433	NONE	N/A	SCHOLARSHIPS	6,000
FAIRFIELD HIGH SCHOOL P O BOX 399 FAIRFIELD,MT59436	NONE	N/A	SCHOLARSHIPS	70,392
FAIRFIELD SENIOR CITIZENS 420 CENTRAL AVE FAIRFIELD,MT59436	NONE	N/A	PROGRAMS	1,084
FAIRFIELD VOLUNTEER FIRE DEPT 412 1ST ALLEY S FAIRFIELD,MT59436	NONE	N/A	PROGRAMS	1,084
GREAT FALLS COMMUNITY FOOD BANK 1620 12TH AVE N GREAT FALLS,MT59401	NONE	N/A	PROGRAMS	1,084
GREAT FALLS SCOTTISH RITE 1304 13TH ST S GREAT FALLS,MT59405	NONE	N/A	PROGRAMS	3,500
GREENFIELD SCHOOL DISTRICT 75 590 2ND ROAD NE FAIRFIELD,MT59436	NONE	N/A	SCHOLARSHIPS	4,000
MSU FOUNDATION 1501 S 11TH AVE BOZEMAN,MT59717	NONE	N/A	SCHOLARSHIPS	15,000
OLD TRAIL MUSEUM 823 N MAIN CHOTEAU,MT59422	NONE	N/A	PROGRAMS	3,000
POWER HIGH SCHOOL P O BOX 155 POWER,MT59468	NONE	N/A	SCHOLARSHIPS	4,800
POWER SENIOR CITIZENS 32 SOMERFELD RD POWER,MT59468	NONE	N/A	PROGRAMS	1,084
ROCKY MOUNTAIN FRONT COMMUNITY FOUNDATION PO BOX 1158 CHOTEAU,MT59422	NONE	N/A	PROGRAMS	2,000
SKYLINE LODGE 424 7TH AVE NW CHOTEAU,MT59422	NONE	N/A	PROGRAMS	3,000
ST PAUL LUTHERAN CHURCH P O BOX 218 FAIRFIELD,MT59436	NONE	N/A	PROGRAMS	56,314
TETON COUNTY 4H-FFA AG P O BOX 130 CHOTEAU,MT59422	NONE	N/A	PROGRAMS	27,235
TETON COUNTY HIGHER EDUCATION CENTER 1301 20TH ST S GREAT FALLS,MT59405	NONE	N/A	SCHOLARSHIPS	3,000
TIMESCALE ADVENTURES 120 2ND AVE S BYNUM,MT59419	NONE	N/A	PROGRAMS	2,512
POWER PUBLIC SCHOOLS 402 TETON AVE POWER,MT59468	NONE	N/A	PROGRAMS	3,000
CHOTEAU YOUTH ALLIANCE PO BOX 1263 CHOTEAU,MT59422	NONE	N/A	PROGRAMS	3,000
Total ................................. 3a				281,571

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	24,043
4 Dividends and interest from securities ....			14	93,744
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....			14
8 Gain or (loss) from sales of assets other than inventory ............			18	955,865
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		1,073,652	0

13Total. Add line 12, columns (b), (d), and (e)..................

1,073,652

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING & BOOKKEEPING	1,320	440		440

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

Name of Bond	End of Year Book Value	End of Year Fair Market Value
FIXED INCOME	919,875	930,560

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

Name of Stock	End of Year Book Value	End of Year Fair Market Value
EQUITY/STOCK	2,956,891	3,137,331

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

US Government Securities - End of Year Book Value:

793,445

US Government Securities - End of Year Fair Market Value:

813,531

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

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

- TIN:

TY 2023 OtherAssetsSchedule

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
TAX ESTIMATES	11,440	15,586	15,586
RECEIVABLE	1,685	6,955	6,955

- TIN:

TY 2023 TaxesSchedule

Name:

BOE BROTHERS FOUNDATION

D A DAVIDSON TRUST CO

EIN:

84-1378691

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE TAX	1,854	0		0
FOREIGN TAXES	1,059	1,059		0