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
RIVER ROAD FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

41-2008605
B Telephone number (see instructions)

(651) 466-8213
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$13,258,030J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 152,691 151,265  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,084,216
b Gross sales price for all assets on line 6a 4,951,181
7 Capital gain net income (from Part IV, line 2)... 2,084,216
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
50 50  
12 Total. Add lines 1 through 11........ 2,236,957 2,235,531  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,500 0 0 750
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
152,232 121,785   30,446
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,356 539   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
58 33   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 155,146 122,357 0 31,221
25 Contributions, gifts, grants paid....... 530,001 530,001
26 Total expenses and disbursements. Add lines 24 and 25 685,147 122,357 0 561,222
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,551,810
b Net investment income (if negative, enter -0-) 2,113,174
c Adjusted net income (if negative, enter -0-)... 0
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.............      
2 Savings and temporary cash investments......... 75,624 1,311,781 1,311,781
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
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)....... 4,118,347 Click to see attachment
List of Attached Documents:
// Content
3,762,042 		9,515,378
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).......... 1,300,081 Click to see attachment
List of Attached Documents:
// Content
1,968,222 		2,425,343
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,774 		Click to see attachment
List of Attached Documents:
// Content
5,528 		Click to see attachment
List of Attached Documents:
// Content
5,528
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,495,826 7,047,573 13,258,030
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
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........ 5,495,826 7,047,573
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 5,495,826 7,047,573
30 Total liabilities and net assets/fund balances (see instructions). 5,495,826 7,047,573
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
5,495,826
2
Enter amount from Part I, line 27a .....................
2
1,551,810
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
7,047,636
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
63
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
7,047,573
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 494. SPDR GOLD TRUST   1900-01-01 2024-01-16
b 3993. ISHARES SILVER TR   2023-07-13 2024-01-22
c 140. ALPHABET INC CL C   2013-06-19 2024-01-24
d 334. EMERSON ELEC CO COM   2004-08-26 2024-01-24
e 220. JOHNSON & JOHNSON   2000-09-07 2024-01-24
348. ORACLE CORP COM   2007-02-01 2024-01-24
141. TEXAS INSTRS INC COM   2004-11-15 2024-01-24
274. VANECK VECTORS ETF TR ETF   2023-09-13 2024-01-31
1. NAVIENT CORP W D   1911-11-11 2024-02-05
507. TESLA INC     2024-02-05
494. SPDR GOLD TRUST   1900-01-01 2024-02-09
654. AMERICAN TOWER CORP   2010-10-13 2024-02-13
726. DEERE & CO COM     2024-02-15
3331. FLUOR CORP NEW COM   2023-09-19 2024-02-23
4342. SCHLUMBERGER LTD ORD     2024-02-23
1994. FORTINET INC     2024-03-01
2096. CVS CORP COM     2024-03-07
494. SPDR GOLD TRUST   1900-01-01 2024-03-18
1. SECURITY LITIGATION   1911-11-11 2024-04-09
494. SPDR GOLD TRUST   1900-01-01 2024-04-10
1025. ISHARES GLOBAL HEALTHCARE ETF     2024-05-08
494. SPDR GOLD TRUST   1900-01-01 2024-05-10
2890. ISHARES CYBERSECURITY AND TECH ETF   2024-03-01 2024-05-17
460. ADOBE SYS INC     2024-05-28
5010. FORTINET INC   2016-05-11 2024-05-28
4345. CISCO SYS INC     2024-06-11
520. SALESFORCE COM INC   2024-05-28 2024-06-11
271. ACCENTURE PLC IRELAND SHS CLASS A   2007-02-01 2024-06-11
600. APPLE COMPUTER INC COM     2024-06-12
2000. NVIDIA CORP   2020-05-27 2024-06-12
1570. PROLOGIS INC COM     2024-06-14
494. SPDR GOLD TRUST   1900-01-01 2024-06-14
.08 SOUTHERN COPPER CORP DEL   2024-03-13 2024-06-25
494. SPDR GOLD TRUST   1900-01-01 2024-07-16
494. SPDR GOLD TRUST   1900-01-01 2024-08-15
494. SPDR GOLD TRUST   1900-01-01 2024-09-13
.204 SOUTHERN COPPER CORP DEL   2024-03-13 2024-09-16
1107. NOVO-NORDISK A S ADR   2024-03-05 2024-10-08
434. ENERGY SELECT SECTOR SPDR FUND ETF   2021-12-22 2024-10-08
1303. ENERGY SELECT SECTOR SPDR FUND ETF   2021-12-22 2024-10-08
1384. UNITED PARCEL SVC INC COM     2024-10-08
136. ASML HOLDING NV NY REG SHS A D R   2024-06-17 2024-10-08
1069. ALPHABET INC CL A   2023-09-21 2024-10-16
494. SPDR GOLD TRUST   1900-01-01 2024-10-18
1386. APPLE COMPUTER INC COM   2008-11-20 2024-10-21
4550. NVIDIA CORP   2020-05-27 2024-10-21
194. MONOLITHIC POWER SYSTEMS INC   2024-02-13 2024-11-14
2962. SPDR GOLD TRUST   1900-01-01 2024-11-15
2962. SPDR GOLD TRUST   1900-01-01 2024-12-09
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 32   31 1
b 80,607   89,853 -9,246
c 21,023   3,147 17,876
d 31,510   10,449 21,061
e 34,969   10,271 24,698
39,749   5,958 33,791
24,049   3,471 20,578
80,625   98,162 -17,537
10     10
91,822   125,354 -33,532
32   32  
120,584   33,315 87,269
262,983   266,197 -3,214
118,526   127,001 -8,475
211,591   176,106 35,485
139,409   45,006 94,403
155,451   140,127 15,324
30   27 3
50     50
33   28 5
92,772   69,603 23,169
35   29 6
132,350   140,059 -7,709
217,793   139,069 78,724
301,033   32,735 268,298
197,427   200,809 -3,382
124,474   140,308 -15,834
78,659   10,316 68,343
129,862   4,523 125,339
251,623   16,908 234,715
174,654   140,245 34,409
37   31 6
9   8 1
34   28 6
37   30 7
37   29 8
20   20  
129,529   139,979 -10,450
39,576   23,629 15,947
118,627   70,943 47,684
180,957   139,789 41,168
112,148   140,523 -28,375
175,580   139,999 35,581
38   27 11
325,782   4,107 321,675
640,777   38,465 602,312
112,646   139,733 -27,087
254   254  
241   232 9
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
      1,085
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       1
b       -9,246
c       17,876
d       21,061
e       24,698
      33,791
      20,578
      -17,537
      10
      -33,532
       
      87,269
      -3,214
      -8,475
      35,485
      94,403
      15,324
      3
      50
      5
      23,169
      6
      -7,709
      78,724
      268,298
      -3,382
      -15,834
      68,343
      125,339
      234,715
      34,409
      6
      1
      6
      7
      8
       
      -10,450
      15,947
      47,684
      41,168
      -28,375
      35,581
      11
      321,675
      602,312
      -27,087
       
      9
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,084,216
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 29,373
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 29,373
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 29,373
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 2,000
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 27,373
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 0
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
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrow  
14
The books are in care ofright arrowU S BANK NATIONAL ASSOCIATION Telephone no.right arrow (855) 452-4077

Located atright arrow800 NICOLLET MALL STE 800MINNEAPOLISMN ZIP+4right arrow55402
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 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
 
 
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
BRUCE A LILLY PRESIDENT/DIRECTOR
0 		0    
516 SUMMIT AVE
ST PAUL,MN55102
BRUCE LILLY JR TREASURER
0 		0    
516 SUMMIT AVE
ST PAUL,MN55102
RUBY PEDIANGCO SECRETARY
0 		0    
800 NICOLLET MALL STE 800
MINNEAPOLIS,MN55402
ROBERT P LILLY VICE PRESIDENT
0 		0    
516 SUMMIT AVE
ST PAUL,MN55102
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (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 arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right 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
11,720,248
b
Average of monthly cash balances.......................
1b
741,292
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
12,461,540
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
12,461,540
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
186,923
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
12,274,617
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
613,731
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
613,731
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
29,373
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
29,373
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
584,358
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
584,358
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
584,358
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
561,222
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
561,222
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 7 584,358
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 369,384
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 0
b From 2020...... 0
c From 2021...... 0
d From 2022...... 0
e From 2023...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 561,222
a Applied to 2023, but not more than line 2a 369,384
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 2024 distributable amount..... 191,838
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 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 0
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		392,520
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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020.... 0
b Excess from 2021.... 0
c Excess from 2022.... 0
d Excess from 2023.... 0
e Excess from 2024.... 0
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).)
NONE
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.
NONE
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:
RUBY PEDIANGCO
800 NICOLLET MALL STE 800
MINNEAPOLIS,MN55402
(612) 303-2847
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS MAY BE SUBMITTED IN LETTER FORM OUTLINING THE REQUEST TOGETHER WITH SUCH SUPPORTING MATERIALS AS THE APPLICANT DESIRES.
cAny submission deadlines:
NOVEMBER 1ST
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
FDN PRIMARILY MAKES GRANTS TO EDUACATIONAL, CULTURAL, YOUTH, ENVIRONME NTAL, EDUCATION AND COMMUNITY SUPPORT ORGS IN MN. NO GRANTS ARE MADE TO INDIVIDUALS OR ORGS REQUIRING EXPENDITURE RESPONSIBILITY.
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

ST PAUL PARKS CONSERVANCY

1600 UNIVERSITY AVE STE 305
SAINT PAUL,MN55104 		NONE PC GENERAL OPERATING 5,000

JDRF

3001 METRO DRIVE SUITE 100
BLOOMINGTON,MN55425 		NONE PC GENERAL OPERATING 5,000

AMERICAN CAMPER ASSOCIATION

9303 FATHER FOLEY DR
PINE RIVER,MN56474 		NONE PC GENERAL OPERATING 20,001

CABLE NATURAL HISTORY MUSEUM

PO BOX 416
CABLE,WI54821 		NONE PC GENERAL OPERATING 5,000

HABITAT FOR HUMANITY

1954 UNIVERSITY AVE W
ST PAUL,MN55104 		NONE PC GENERAL OPERATING 10,000

LAKE OWEN ASSOCIATION

PO BOX 132
CABLE,WI54821 		NONE PC GENERAL OPERATING 5,000

MIGIZI COMMUNICATIONS INC

PO BOX 17125
MINNEAPOLIS,MN55417 		NONE PC GENERAL OPERATING 50,000

MASTERS TOURNAMENT FOUNDATION

2604 WASHINGTON ROAD
AUGUSTA,GA30904 		NONE PC GENERAL OPERATING 25,000

FRIENDS OF THE MISSISSIPPI RIVER

101 EAST 5TH ST SUITE 2000
SAINT PAUL,MN55101 		NONE PC GENERAL OPERATING 10,000

MIA

2400 THIRD AVE S
MINNEAPOLIS,MN55404 		NONE PC GENERAL OPERATING 10,000

NEIGHBORHOOD HOUSE

179 ROBIE ST E
ST PAUL,MN55107 		NONE PC GENERAL OPERATING 50,000

SPRINGBOARD FOR THE ARTS

262 UNIVERSITY AVE W
ST PAUL,MN55103 		NONE PC GENERAL OPERATING 5,000

COLGATE UNIVERSITY

13 OAK DRIVE
HAMILTON,NY13346 		NONE PC GENERAL OPERATING 50,000

SANKATY HEAD FOUNDATION

PO BOX 875
SIASCONSET,MA02564 		NONE PC GENERAL OPERATING 5,000

SOMERSET SCHOLARSHIP FUND

1416 DODD ROAD
MENDOTA HEIGHTS,MN55118 		NONE PC GENERAL OPERATING 5,000

HALLIE Q BROWN COMMUNITY CENTER

270 NORTH KENT ST
ST PAUL,MN55102 		NONE PC GENERAL OPERATING 50,000

NANTUCKET HISTORICAL ASSOCIATION

PO BOX 1016
NANTUCKET,MA02554 		NONE PC GENERAL OPERATING 5,000

FRIENDS OF THE PARKS AND TRAILS ST PAUL

PO BOX 4206
SAINT PAUL,MN55104 		NONE PC GENERAL OPERATING 5,000

TEXTILE CENTER

3000 UNIVERSITY AVE SE 100
MINNEAPOLIS,MN55414 		NONE PC GENERAL OPERATING 10,000

THE FAMILY PARTNERSHIP

414 SOUTH 8TH ST
MINNEAPOLIS,MN55404 		NONE PC GENERAL OPERATING 30,000

PARK SQUARE THEATER

408 ST PETER ST
ST PAUL,MN55102 		NONE PC GENERAL OPERATING 5,000

WALKER ART CENTER

725 VINELAND PLACE
MINNEAPOLIS,MN55403 		NONE PC GENERAL OPERATING 10,000

ST PAUL ACADEMY AND SUMMIT SCHOOL

1712 RANDOLPH AVE
ST PAUL,MN55105 		NONE PC GENERAL OPERATING 145,000

PLANNED PARENTHOOD

671 VANDALIA ST
ST PAUL,MN55114 		NONE PC GENERAL OPERATING 10,000
Total .................................right arrow 3a 530,001
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 ....     14 152,691  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 2,084,216  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    1 50  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   2,236,957  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,236,957
(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:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 1,500     750

TY 2024 InvestmentsCorpStockSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Name of Stock End of Year Book Value End of Year Fair Market Value
907818108 UNION PACIFIC CORP 140,758 290,295
03027X100 AMERICAN TOWER CORP    
02079K107 ALPHABET INC CL C    
G1151C101 ACCENTURE PLC CL A    
911312106 UNITED PARCEL SERVIC    
478160104 JOHNSON JOHNSON    
291011104 EMERSON ELECTRIC CO    
882508104 TEXAS INSTRUMENTS IN    
883556102 THERMO FISHER SCIENT 139,885 283,005
34959E109 FORTINET INC    
037833100 APPLE INC 12,316 1,040,746
67066G104 NVIDIA CORP 84,321 1,833,059
580135101 MCDONALDS CORP COM 139,303 288,441
594918104 MICROSOFT CORP 141,877 518,445
68389X105 ORACLE CORPORATION 140,501 168,806
00724F101 ADOBE SYS INC    
609207105 MONDELEZ INTL INC CL 139,903 168,439
17275R102 CISCO SYSTEMS INC    
942622200 WATSCO INC COM 105,337 284,808
023135106 AMAZON.COM INC 140,054 285,207
74340W103 PROLOGIS INC    
030420103 AMERICAN WATER WORKS 139,869 156,235
053015103 AUTOMATIC DATA PROCE 139,323 276,923
126650100 CVS HEALTH CORPORATI    
64110L106 NETFLIX.COM INC 204,417 607,880
437076102 HOME DEPOT INC 136,377 210,055
244199105 DEERE CO.    
88160R101 TELSA MOTORS INC    
74762E102 QUANTA SVCS INC 141,560 331,536
806857108 SCHLUMBERGER LTD    
040413106 ARISTA NETWORKS INC    
22160K105 COSTCO WHOLESALE COR 139,808 254,723
149123101 CATERPILLAR INC 135,307 240,873
02079K305 ALPHABET INC CL A    
30303M102 FACEBOOK INC A 139,409 317,932
343412102 FLUOR CORP    
03990B101 ARES MANAGEMENT CORP 139,542 168,533
040413205 ARISTA NETWORKS INC 139,562 459,805
11135F101 BROADCOM INC 140,049 231,840
13321L108 CAMECO CORP 139,650 134,282
253868103 DIGITAL REALTY TRUST 140,363 177,330
40434L105 HP INC 141,364 138,775
459200101 INTL BUSINESS MCHN C 140,100 156,079
48251W104 KKR CO INC A 139,979 216,392
65339F101 NEXTERA ENERGY INC 140,284 139,867
84265V105 SOUTHERN COPPER CORP 140,824 135,067

TY 2024 InvestmentsOtherSchedule2
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
81369Y803 TECHNOLOGY SELECT SE AT COST 70,015 168,112
81369Y506 ENERGY SELECT SECTOR      
46137V357 INVESCO S P 500 EQUA AT COST 106,728 118,981
33738R118 FIRST TRUST NASDAQ T AT COST 86,619 171,906
464287325 ISHARES GLOBAL HEALT AT COST 34,939 74,622
464287655 ISHARES RUSSELL 2000 AT COST 99,089 117,551
37954Y673 GLOBAL X US INFRASTR AT COST 105,968 137,677
46090E103 INVESCO QQQ TRUST ET AT COST 81,924 132,409
46137V233 INVESCO S P 500 TOP AT COST 72,765 105,416
46428Q109 ISHARES SILVER TR      
78463V107 SPDR GOLD TRUST AT COST 703,893 717,189
81369Y704 INDUSTRIAL SELECT SE AT COST 101,317 133,736
81369Y852 COMMUNICATION SERVIC AT COST 98,040 140,471
92189H607 VANECK VECTORS ETF T      
78464A755 SPDR S&P METALS AND AT COST 99,407 88,303
78464A870 SPDR S&P BIOTECH ETF AT COST 92,524 94,113
81369Y100 MATERIALS SELECT SEC AT COST 134,378 122,929
81369Y605 FINANCIAL SELECT SEC AT COST 80,616 101,928

TY 2024 OtherAssetsSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED INCOME   0 0
000000000 MISCELLANEOUS ENTRY 1,774 5,528 5,528


TY 2024 OtherDecreasesSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Description Amount
COST BASIS ADJUSTMENT 63


TY 2024 OtherExpensesSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE FILING FEE/TAX 25 0   25
ADR FEES 33 33   0


TY 2024 OtherIncomeSchedule2
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 50 50  


TY 2024 OtherProfessionalFeesSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE 152,232 121,785   30,446


TY 2024 TaxesSchedule
Name:
RIVER ROAD FOUNDATION
EIN:
41-2008605
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 539 539   0
FEDERAL ESTIMATES - PRINCIPAL 817 0   0