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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
Don Cowden Foundation Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 2177
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Bloomington, IN47402
A Employer identification number

35-1968871
B Telephone number (see instructions)

(812) 336-8530
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$28,622,495
J 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) 20,000
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...      
5a Gross rents............ 3,027,617 3,027,617 3,027,617
b Net rental income or (loss) -359,699
6a Net gain or (loss) from sale of assets not on line 10 486,770
b Gross sales price for all assets on line 6a 549,000
7 Capital gain net income (from Part IV, line 2)... 486,770
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)....... 18,916    
12 Total. Add lines 1 through 11........ 3,553,303 3,514,387 3,027,617
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 199,751      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion... 539,538 539,538  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 2,847,778 2,847,778    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,587,067 3,387,316   0
25 Contributions, gifts, grants paid....... 93,090 93,090
26 Total expenses and disbursements. Add lines 24 and 25 3,680,157 3,387,316   93,090
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -126,854
b Net investment income (if negative, enter -0-) 127,071
c Adjusted net income (if negative, enter -0-)... 3,027,617
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 1,199,090 284,645 284,645
2 Savings and temporary cash investments......... 1,683 808,407 808,407
3 Accounts receivable right arrow407,942
Less: allowance for doubtful accounts right arrow327,388 570,316 80,554 80,555
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 106,251 131,318 123,118
14 Land, buildings, and equipment: basis right arrow27,325,770
Less: accumulated depreciation (attach schedule) right arrow572,619 26,720,591 Click to see attachment
List of Attached Documents:
// Content
26,753,151
27,325,770
15 Other assets (describe right arrow)   Click to see attachment
List of Attached Documents:
// Content
1
 
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 28,597,931 28,058,076 28,622,495
Liabilities 17 Accounts payable and accrued expenses.......... 39,245 14,294
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 5,052,426 Click to see attachment
List of Attached Documents:
// Content
4,650,937
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
92,927
Click to see attachment
List of Attached Documents:
// Content
95,371
23 Total liabilities (add lines 17 through 22)......... 5,184,598 4,760,602
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 673,263 23,413,912
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 22,740,070 -116,438
29 Total net assets or fund balances (see instructions)..... 23,413,333 23,297,474
30 Total liabilities and net assets/fund balances (see instructions). 28,597,931 28,058,076
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
23,413,333
2
Enter amount from Part I, line 27a .....................
2
-126,854
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
13,153
4
Add lines 1, 2, and 3 ..........................
4
23,299,632
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
2,158
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
23,297,474
Form 990-PF (2024)
Form 990-PF (2024)
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 4125 W. State Rd. 46 P 2001-12-01 2024-01-04
b 8414 N. Carr Rd. P 2015-07-01 2024-04-12
c 2031 W. Cory Dr. P 2001-07-01 2024-05-31
d 2005 Cory Lane P 2001-07-01 2024-07-29
e Smith Pike land P 2001-12-01 2024-10-14
2010 Van P 2011-07-01 2024-05-01
(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 435,000   29,203 405,797
b 45,000   22,333 22,667
c 15,000   2,227 12,773
d 13,000   2,400 10,600
e 25,000   6,067 18,933
16,000     16,000
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       405,797
b       22,667
c       12,773
d       10,600
e       18,933
      16,000
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 2 486,770
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 1,766
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  
3 Add lines 1 and 2........................... 3 1,766
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,766
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a  
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 6
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 1,772
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow0 Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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
 
No
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 arrow
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 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowTom Orman Telephone no.right arrow (812) 336-8530

Located atright arrow2088 S Liberty Dr 114BloomingtonIN ZIP+4right arrow47403
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 2024, 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 (2024)
Form 990-PF (2024)
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
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 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 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
Craig Cowden President
40.00
97,922    
7401 N Woodall Rd
Ellettsville,IN47429
Ryan Craig Cowden Director
2.00
2,607    
7401 N Woodall Rd
Ellettsville,IN47429
Tom Orman Foundation Mgr.
40.00
97,922    
4101 W Breezewood Court
Bloomington,IN47404
Cody Cowden Director
2.00
1,300    
7480 W Raymond Run
Ellettsville,IN47429
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  
Form 990-PF (2024)
Form 990-PF (2024)
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 (2024)
Form 990-PF (2024)
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
0
b
Average of monthly cash balances.......................
1b
0
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
0
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
 
3
Subtract line 2 from line 1d.........................
3
0
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
0
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
0
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
0
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
 
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
1,766
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,766
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,766
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
1,766
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
0
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
93,090
b
Program-related investments—total from Part VIII-B..................
1b
 
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
93,090
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus
(b)
Years prior to 2023
(c)
2023
(d)
2024
1 Distributable amount for 2024 from Part X, line 7 0
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 518,616
b From 2020...... 542,266
c From 2021...... 18,400
d From 2022...... 9,600
e From 2023...... 57,612
f Total of lines 3a through e ........ 1,146,494
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 93,090
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions).....
 
c Treated as distributions out of corpus (Election
required—see instructions)........
0
d Applied to 2024 distributable amount.....  
e Remaining amount distributed out of corpus 93,090
5 Excess distributions carryover applied to 2024.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,239,584
b Prior years’ undistributed income. Subtract
line 4b from line 2b ..........
 
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......
 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ...........
 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions .............
 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 ..........
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) .......
 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ...
518,616
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ......
720,968
10 Analysis of line 9:
a Excess from 2020.... 542,266
b Excess from 2021.... 18,400
c Excess from 2022.... 9,600
d Excess from 2023.... 57,612
e Excess from 2024.... 93,090
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 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 (2024)
Form 990-PF (2024)
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
Indiana University


107 S Indiana Ave
Bloomington,IN47405
none PC donation 4,000
Boys Girls Club of Ellettsville


8045 W St Rd 46
Ellettsville,IN47429
none PC donation 10,000
Area 10 Agency on Aging


631 Edgewood Dr
Ellettsville,IN47429
none   donation 320
Lil Arties


1459 E Columbus St
Martinsville,IN46151
none PC donation 300
BIA


PO Box
Bloomington,IN47401
none PC general operations 5,000
Hoosier Hills Food Bank


2333 W Industrial Ddr
Bloomington,IN47404
none PC general operations 24,000
Chalee Gilliland Foundation


7685 N Lydy Rd
Bloomington,IN47401
none POF donation 1,000
Edgewood Intermediate


631 Edgewood Dr
Ellettsville,IN47429
  PC donation 7,275
Fairview Elementary


500 W 7th St
Bloomington,IN47401
  PC donation 5,000
Grandview Elementary


2300 S Endwright Rd
Bloomington,IN47401
  PC donation 5,000
Ivy Tech Bloomington


200 Daniels Way
Bloomington,IN47401
  PC donation 4,000
Salvation Army


111 N Roger St
Bloomington,IN47401
  PC donation 1,000
Pantry 279


3609 IN 46
Bloomington,IN47404
  PC donation 18,995
RBB Family Store


3635 IN 46
Bloomington,IN47404
  PC donation 7,200
Total .................................right arrow 3a 93,090
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ...........
         
4 Dividends and interest from securities ....          
5 Net rental income or (loss) from real estate:
aDebt-financed property...... 531120 -411,115      
bNot debt-financed property..... 531110 51,416      
6 Net rental income or (loss) from personal property          
7 Other investment income .....         18,337
8 Gain or (loss) from sales of assets other than
inventory ............
        486,770
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOther Income
        579
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -359,699   505,686
13Total. Add line 12, columns (b), (d), and (e)..................
13
145,987
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow
Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
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 Right Arrow
Firm's EIN Right Arrow
Firm's address Right Arrow


Phone no.
Form 990-PF (2024)
Additional Data


Software ID: 24020486
Software Version: 2024v5.1


Form 990PF - Special Condition Description:
Special Condition Description

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 DepreciationSchedule
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)
Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
House 2000-01-01 50,000 43,963 SL 3.64 % 1,818 1,818    
Beverly Court Lot 1 Trailer 2023-09-29 10,000 106 SL 3.64 % 364 364    
Beverly Court Lot 10 - Trailer 2023-05-31 19,386 441 SL 3.64 % 705 705    
Beverly Court Lot - Trailer 2023-05-31 16,464 374 SL 3.64 % 599 599    
Beverly Court Lot - Trailer 2023-05-31 24,233 551 SL 3.64 % 881 881    
Beverly Court Lot 3 - Trailer 2023-05-31 9,670 220 SL 3.64 % 352 352    
Beverly Court Lot 4 - Trailer 2023-10-05 33,591 255 SL 3.64 % 1,221 1,221    
Beverly Court Lot 7 - Trailer 2023-05-31 16,091 366 SL 3.64 % 585 585    
Beverly Court Lot 8 - Trailer 2023-05-31 20,356 463 SL 3.64 % 740 740    
Beverly Court Lot 9 - Trailer 2023-05-31 13,861 315 SL 3.64 % 504 504    
Dump Trailer 2023-07-05 9,203 657 SL 14.29 % 1,315 1,315    
190 S Kimble - House 2023-05-31 113,111 2,571 SL 3.64 % 4,113 4,113    
200 S Kimble - House 2023-05-31 145,000 3,296 SL 3.64 % 5,272 5,272    
Kimble Lot 10 - Trailer 2023-05-31 11,353 258 SL 3.64 % 413 413    
Kimble Lot 11 - Trailer 2023-05-31 11,353 258 SL 3.64 % 413 413    
Kimble Lot 12 - Trailer 2023-05-31 7,671 174 SL 3.64 % 279 279    
Kimlbe Lot 13 - Trailer 2023-05-31 11,353 258 SL 3.64 % 413 413    
Kimble Lot 14 - Trailer 2023-05-31 11,813 269 SL 3.64 % 430 430    
Kimble Lot 15 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 16 - Trailer 2023-05-31 11,046 251 SL 3.64 % 402 402    
Kimble Lot 17 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 18 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 19 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 2 - Trailer 2023-05-31 11,046 251 SL 3.64 % 402 402    
Kimble Lot 20 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 21 - Trailer 2023-05-31 25,301 575 SL 3.64 % 920 920    
Kimble Lot 22 - Trailer 2023-05-31 7,318 166 SL 3.64 % 266 266    
Kimble Lot 23 - Trailer 2023-05-31 29,270 665 SL 3.64 % 1,064 1,064    
Kimble Lot 3 - Trailer 2023-05-31 11,353 258 SL 3.64 % 413 413    
Kimble Lot 4 - Trailer 2023-05-31 12,426 282 SL 3.64 % 452 452    
Kimble Lot 5 - Trailer 2023-05-31 12,426 282 SL 3.64 % 452 452    
Kimble Lot 6 - Trailer 2023-05-31 11,199 255 SL 3.64 % 407 407    
Kimble Lot 7 - Trailer 2023-05-31 7,671 174 SL 3.64 % 279 279    
Kimble Lot 8 - Trailer 2023-05-31 11,966 272 SL 3.64 % 435 435    
Kimble Lot 9 - Trailer 2023-05-31 11,353 258 SL 3.64 % 413 413    
Lamplighter Lot 9 - Trailer 2023-11-03 2,000 9 SL 3.64 % 73 73    
Lamplighter Lot 1 - Trailer 2023-05-31 31,809 723 SL 3.64 % 1,157 1,157    
Lamplighter Lot 10 - Trailer 2023-05-31 28,181 641 SL 3.64 % 1,025 1,025    
Lamplighter Lot 11 - Trailer 2023-05-31 11,369 258 SL 3.64 % 413 413    
Lamplighter Lot 14 - Trailer 2023-05-31 39,913 907 SL 3.64 % 1,451 1,451    
Lamplighter Lot 15 - Trailer 2023-10-02 41,833 317 SL 3.64 % 1,521 1,521    
Lamplighter Lot 17 - Trailer 2023-05-31 7,257 165 SL 3.64 % 264 264    
Lamplighter Lot 18 - Trailer 2023-05-31 6,410 146 SL 3.64 % 233 233    
Lamplighter Lot 20 - Trailer 2023-05-31 6,047 137 SL 3.64 % 220 220    
Lamplighter Lot 21 - Trailer 2023-05-31 31,567 718 SL 3.64 % 1,148 1,148    
Lamplighter Lot 24 - Trailer 2023-05-31 28,665 652 SL 3.64 % 1,042 1,042    
Lamplighter Lot 25 - Trailer 2023-05-31 11,853 269 SL 3.64 % 431 431    
Lamplighter Lot 26 - Trailer 2023-05-31 37,131 844 SL 3.64 % 1,350 1,350    
Lamplighter Lot 27 - Trailer 2023-05-31 11,974 272 SL 3.64 % 435 435    
Lamplighter Lot 3 - Trailer 2023-05-31 8,829 201 SL 3.64 % 321 321    
Lamplighter Lot 31 - Trailer 2023-05-31 9,555 217 SL 3.64 % 347 347    
Lamplighter Lot 33 - Trailer 2023-05-31 9,676 220 SL 3.64 % 352 352    
Lamplighter Lot 37 - Trailer 2023-05-31 7,862 179 SL 3.64 % 286 286    
Lamplighter Lot 38 - Trailer 2023-05-31 25,762 586 SL 3.64 % 937 937    
Lamplighter Lot 39 - Trailer 2023-05-31 6,410 146 SL 3.64 % 233 233    
Lamplighter Lot 40 - Trailer 2023-05-31 8,466 192 SL 3.64 % 308 308    
Lamplighter Lot 41 - Trailer 2023-05-31 6,531 148 SL 3.64 % 237 237    
Lamplighter Lot 42 - Trailer 2023-05-31 7,620 173 SL 3.64 % 277 277    
Lamplighter Lot 43 - Trailer 2023-05-31 30,237 687 SL 3.64 % 1,099 1,099    
Lamplighter Lot 44 - Trailer 2023-05-31 21,529 489 SL 3.64 % 783 783    
Lamplighter Lot 45 - Trailer 2023-05-31 7,015 159 SL 3.64 % 255 255    
Lamplighter Lot 47 - Trailer 2023-05-31 23,706 539 SL 3.64 % 862 862    
Lamplighter Lot 49 - Trailer 2023-05-31 24,311 553 SL 3.64 % 884 884    
Lamplighter Lot 50 - Trailer 2023-05-31 28,060 638 SL 3.64 % 1,020 1,020    
Lamplighter Lot 52 - Trailer 2023-05-31 7,741 176 SL 3.64 % 281 281    
Lamplighter Lot 54 - Trailer 2023-05-31 23,101 525 SL 3.64 % 840 840    
Lamplighter Lot 55 - Trailer 2023-10-02 33,591 255 SL 3.64 % 1,221 1,221    
Lamplighter Lot 56 - Trailer 2023-05-31 33,140 753 SL 3.64 % 1,205 1,205    
Lamplighter Lot 57 - Trailer 2023-05-31 31,688 720 SL 3.64 % 1,152 1,152    
Lamplighter Lot 58 - Trailer 2023-05-31 31,567 718 SL 3.64 % 1,148 1,148    
Lamplighter Lot 59 - Trailer 2023-05-31 8,950 203 SL 3.64 % 325 325    
Lamplighter Lot 6 2023-05-31 28,544 649 SL 3.64 % 1,038 1,038    
Lamplighter Lot 60 - Trailer 2023-05-31 31,688 720 SL 3.64 % 1,152 1,152    
Lamplighter Lot 62 - Trailer 2023-05-31 8,466 192 SL 3.64 % 308 308    
Lamplighter Lot 63 - Trailer 2023-05-31 9,676 220 SL 3.64 % 352 352    
Lamplighter Lot 64 2023-05-31 7,136 162 SL 3.64 % 259 259    
Lamplighter Lot 65 2023-05-31 25,762 586 SL 3.64 % 937 937    
Lamplighter Lot 66 - Trailer 2023-05-31 8,950 203 SL 3.64 % 325 325    
Lamplighter Lot 67 - Trailer 2023-10-05 33,591 255 SL 3.64 % 1,221 1,221    
Lamplighter Lot 68 - Trailer 2023-05-31 6,047 137 SL 3.64 % 220 220    
Lamplighter Lot 7 - Trailer 2023-05-31 23,101 525 SL 3.64 % 840 840    
Lamplighter Lot 70 - Trailer 2023-05-31 28,423 646 SL 3.64 % 1,033 1,033    
Lamplighter Lot 71 - Trailer 2023-05-31 40,276 915 SL 3.64 % 1,464 1,464    
Lamplighter Lot 72 - Trailer 2023-05-31 9,071 206 SL 3.64 % 330 330    
Lamplighter Lot 73 - Trailer 2023-05-31 8,104 184 SL 3.64 % 295 295    
Lamplighter Lot 8 - Trailer 2023-05-31 6,047 137 SL 3.64 % 220 220    
Liberty - Building 2023-05-31 4,326,806 69,445 SL 2.56 % 110,939 110,939    
1131 N Air Dr 2023-05-31 550,000 8,827 SL 2.56 % 14,102 14,102    
1928 S Arlington Rd 2 bldgs 2023-05-31 500,000 8,025 SL 2.56 % 12,820 12,820    
2500 W 3rd St 2023-05-31 400,000 6,420 SL 2.56 % 10,256 10,256    
2505 W 3rd St 4 bldgs 2023-05-31 750,000 12,037 SL 2.56 % 19,230 19,230    
2511 W 3rd St 2023-05-31 800,000 12,840 SL 2.56 % 20,512 20,512    
2513 W 3rd St 2023-05-31 270,000 4,333 SL 2.56 % 6,923 6,923    
2521 W 3rd St 2023-05-31 180,000 2,889 SL 2.56 % 4,615 4,615    
316 S Cory Lane 2023-05-31 175,000 3,978 SL 3.64 % 6,363 6,363    
3750 W 3rd St 2023-05-31 2,100,000 33,705 SL 2.56 % 53,844 53,844    
3800 W 3rd St 2023-05-31 1,975,000 31,699 SL 2.56 % 50,639 50,639    
4800 S Old St Rd 37 10 duplexes 2023-05-31 625,000 14,206 SL 3.64 % 22,725 22,725    
Smith Pike Crossing 2023-05-31 5,363,320 86,081 SL 2.56 % 137,516 137,516    
Trailer - Lot 11 2024-05-13 6,000   SL 2.27 % 136 136    
Toro Z Master 7000 ZTR lawn mower 2024-11-19 7,389   200DB 3.57 % 264 264    
2020 Toyota Tacoma 2024-07-12 21,793   200DB 15.00 % 3,269 3,269    
Mack Truck 2024-08-29 7,500   200DB 15.00 % 1,125 1,125    
2014 Ford F250 flatbed truck 2024-11-19 12,650   200DB 5.00 % 633 633    

TY 2024 LandEtcSchedule2
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Auto./Transportation Equip. 41,943 5,000 36,943 41,943
Machinery and Equipment 16,593 5,000 11,593 16,593
Buildings 20,303,019 562,619 19,740,400 20,303,019
Land 6,964,215   6,964,215 6,964,215


TY 2024 MortgagesAndNotesPayableSch
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Total Mortgage Amount: 4,650,937


TY 2024 OtherDecreasesSchedule
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description Amount
Prior Period Adj 2,158


TY 2024 OtherExpensesSchedule
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Rental Expenses 2,847,778 2,847,778    


TY 2024 OtherIncomeSchedule2
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Other Income 579    
Other Investment Income 18,337    


TY 2024 OtherIncreasesSchedule
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description Amount
Book/tax depreciation difference 5,427


TY 2024 OtherLiabilitiesSchedule
Name:
Don Cowden Foundation Inc
EIN:
35-1968871
Software ID:
24020486
Software Version:
2024v5.1
Description Beginning of Year - Book Value End of Year - Book Value
Damage Deposits 87,884 92,953
Payroll Liabilities 5,043 2,418