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
LLOYD K JOHNSON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)130 WEST SUPERIOR STREET SUITE 710
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DULUTH, MN55802
A Employer identification number

51-0180842
B Telephone number (see instructions)

(218) 726-9000
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$31,039,493J 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 170 170  
4 Dividends and interest from securities... 942,157 942,157  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,645,197
b Gross sales price for all assets on line 6a 23,035,501
7 Capital gain net income (from Part IV, line 2)... 1,645,197
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,409    
12 Total. Add lines 1 through 11........ 2,589,933 2,587,524  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 150,485 37,621   112,864
14 Other employee salaries and wages...... 96,642 24,161   72,481
15 Pension plans, employee benefits....... 30,783 7,696   23,087
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
17,125 4,281   12,844
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
136,576 108,026   28,550
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
34,567      
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
429    
20 Occupancy.............. 14,259 3,565   10,694
21 Travel, conferences, and meetings....... 15,601 3,900   11,701
22 Printing and publications.......... 1,465 366   1,099
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
34,687 8,673   26,014
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 532,619 198,289   299,334
25 Contributions, gifts, grants paid....... 1,284,032 1,284,032
26 Total expenses and disbursements. Add lines 24 and 25 1,816,651 198,289   1,583,366
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 773,282
b Net investment income (if negative, enter -0-) 2,389,235
c Adjusted net income (if negative, enter -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............. 83,964 -16,680 -16,680
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 5,255 5,290 5,290
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).......... 27,609,694 Click to see attachment
List of Attached Documents:
// Content
31,050,668 		31,050,668
14 Land, buildings, and equipment: basis right arrow18,721
Less: accumulated depreciation (attach schedule) right arrow18,506 645 Click to see attachment
List of Attached Documents:
// Content
215 		215
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
10,602 		   
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 27,710,160 31,039,493 31,039,493
Liabilities 17 Accounts payable and accrued expenses..........   3,924
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)   Click to see attachment
List of Attached Documents:
// Content
14,810
23 Total liabilities (add lines 17 through 22).........   18,734
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........... 27,710,160 31,020,759
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 27,710,160 31,020,759
30 Total liabilities and net assets/fund balances (see instructions). 27,710,160 31,039,493
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
27,710,160
2
Enter amount from Part I, line 27a .....................
2
773,282
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
2,537,317
4
Add lines 1, 2, and 3 ..........................
4
31,020,759
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
31,020,759
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 NORTH SHORE BANK P    
b ULLAND INVESTMENTS P    
c ULLAND INVESTMENTS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,099,468   1,502,711 596,757
b 1,924,653   1,895,320 29,333
c 18,715,858   17,992,273 723,585
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       596,757
b       29,333
c       723,585
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,645,197
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 3 723,585
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 33,210
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 33,210
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 33,210
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 18,400
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,088
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 33,488
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 278
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow278 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
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
Yes
 
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 arrowLLOYDKJOHNSONFOUNDATION.ORG
14
The books are in care ofright arrowERIK TORCH Telephone no.right arrow (218) 726-9000

Located atright arrow130 W SUPERIOR ST STE 710DULUTHMN ZIP+4right arrow55802
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
 
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
Yes
 
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
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 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
ERIK TORCH EXECUTIVE DI
40.00 		150,485 4,515 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
STEPHEN SURBAUGH PRESIDENT
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
LYNN GOERDT VICE PRESIDE
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
JEFF STODDARD TREASURER
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
CINDY HANSEN DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
RICK SMITH DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
PETE JERONIMUS DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
ED CRAWFORD DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
KIRSTEN CRUIKSHANK DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
DOUG THOMPSON DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
SALAAM WITHERSPOON DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE710
DULUTH,MN55802
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 N/A  
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
30,225,649
b
Average of monthly cash balances.......................
1b
25,883
c
Fair market value of all other assets (see instructions)................
1c
6,901
d
Total (add lines 1a, b, and c).........................
1d
30,258,433
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
30,258,433
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
453,876
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
29,804,557
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,490,228
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
1,490,228
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
33,210
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
33,210
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,457,018
4
Recoveries of amounts treated as qualifying distributions................
4
1,611
5
Add lines 3 and 4............................
5
1,458,629
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
1,458,629
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,583,366
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
1,583,366
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 1,458,629
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......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023...... 360,104
f Total of lines 3a through e ........ 360,104
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,583,366
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)........ 		 
d Applied to 2024 distributable amount..... 1,458,629
e Remaining amount distributed out of corpus 124,737
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 5 484,841
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) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		484,841
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023.... 360,104
e Excess from 2024.... 124,737
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 e-mail address of the person to whom applications should be addressed:
ERIK TORCH
130 WEST SUPERIOR STREET
SUITE 520
DULUTH,MN55802
(218) 726-9000
bThe form in which applications should be submitted and information and materials they should include:
EMAIL OR CALL FOUNDATION STAFF TO DISCUSS PROPOSED APPLICATION. IF REQUEST FITS GUIDELINES ORGANIZATIONS SUBMIT APPLICATION FOR CONSIDERATION. ADDITIONAL INFORMATION MAY BE REQUESTED BY FOUNDATION.
cAny submission deadlines:
JANUARY 15, APRIL 15, JULY 15, AND OCTOBER 15 OF EACH GRANT YEAR.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION ACCEPTS APPLICATIONS FROM ORGANIZATIONS LOCATED OR PROVIDING SERVICES WITHIN LAKE, COOK, AND SOUTHERN ST. LOUIS COUNTIES IN MINNESOTA. THE FOUNDATION'S AREAS OF INTEREST INCLUDE ARTS AND CULTURE, COMMUNITY AND ECONOMIC DEVELOPMENT, EDUCATION, ENVIRONMENT, AND SOCIAL WELFARE.
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

ANIMAL ALLIES HUMANE SOCIETY

4006 AIRPORT ROAD
DULUTH,MN55811 		  PC FELINE OBSERVATION AND ISOLATION KEN 3,500

ANIMIKII MAZINA'IGANAN THUNDERBIRD

2101 14TH ST
CLOQUET,MN55720 		  PC FUR TRADE NATION RELEASE 3,500

ARMORY ARTS AND MUSIC CENTER

1626 LONDON RD 779
DULUTH,MN55812 		  PC BUILDING CAPACITY THROUGH A COMPREHE 20,000

ARROWHEAD CHORALE

506 WEST MICHIGAN ST
DULUTH,MN55802 		  PC MUSICAL STORYTELLING THROUGH PUPPETR 7,500

BIRCH GROVE COMMUNITY SCHOOL

9 GOODNEIGHBOR HILL RD
TOFTE,MN55615 		  PC 2024 SUMMER YOUTH CORPS 3,500

BOB TAVANI HOUSE FOR MEDICAL REPITE

2119 W 2ND ST
DULUTH,MN55806 		  PC BOB TAVANI HOUSE GENERAL OPERATING F 15,000

BOYS & GIRLS CLUB OF THE NORTHLAND

120 NORTH 30TH AVENUE WES
DULUTH,MN55806 		  PC CAPACITY BUILDING 20,000

CARE PARTNERS OF COOK COUNTY

PO BOX 282 513 5TH AVE W
STE 106
GRAND MARAIS,MN55604 		  PC BUILD OUT AND GENERAL FOR COOK COUNT 23,500

CENTER CITY HOUSING CORP

105 1/2 WEST FIRST STREET
DULUTH,MN55802 		  PC CCHC FAMILY SUPPORTIVE HOUSING 20,000

CHESTER BOWL IMPROVEMENT CLUB

1801 EAST SKYLINE PARKWAY
DULUTH,MN55812 		  PC GROWING UP CHESTER CHALET EXPANSION 50,000

CHOICE UNLIMITED

1829 E SUPERIOR ST
DULUTH,MN55812 		  PC BOLD-CHOICE THEATRE COMPANY OUTREACH 10,000

CHUM

125 N 1ST AVE W
DULUTH,MN55802 		  PC CHUM SHELTER EXPANSION PROJECT 100,000

COMPAS INC

450 SYNDICATE ST N
ST PAUL,MN55104 		  PC SPOKEN WORD POETRY IN SILVER BAY 3,500

CONFLICT RESOLUTION CENTER

4108 E SUPERIOR ST
DULUTH,MN55804 		  PC RESTORATIVE SERVICES FOR AT-RISK YOU 15,000

CONSERVATION CORPS MINNESOTA

60 PLATO BLVD E
STE 210
ST PAUL,MN55107 		  PC 2024 SUMMER YOUTH CORPS 15,000

COOK COUNTY GRAND MARAIS EDA

15 NORTH BROADWAY
PO BOX 597
GRAND MARAIS,MN55604 		  PC EDA THREE-YEAR STRATEGIC FRAMEWORK 3,000

COOK COUNTY HIGHER EDUCATION

300 W 3RD ST
PO BOX 57
GRAND MARAIS,MN55604 		  PC TUITION SCHOLARSHIPS AND THE 70,000

COOK COUNTY HRA

111 5TH ST SE 1
COOK,MN55723 		  PC PRE-DEVELOPMENT FUNDS FOR NEW 50,000

COOK COUNTY YMCA

105 WEST 5TH ST
GRAND MARAIS,MN55604 		  PC EARLY CHILDHOOD SUPPORT 20,000

CYCLISTS OF GITCHEE GUMMEE SHORES

PO BOX 161261
DULUTH,MN55816 		  PC HARBOR HIGHLANDS EARN A BIKE PROGRAM 3,500

DAMIANO OF DULUTH INC

206 WEST 4TH STREET
SUITE 214
DULUTH,MN55806 		  PC DAMIANO OF DULUTH 30,000

DIVINE KONNECTIONS INC

2122 WOODLAND AVE
DULUTH,MN55803 		  PC ANNIE'S HOUSE CAPITAL EXPANSION 20,000

DULUTH ART INSTITUTE ASSOCIATION

506 W MICHIGAN ST 2
DULUTH,MN55802 		  PC GENERAL OPERATING SUPPORT 25,000

DULUTH COMMUNITY SCHOOL COLLABORATI

32 EAST FIRST ST
DULUTH,MN55802 		  PC DCSC GENERAL OPERATING SUPPORT 15,000

DULUTH PLAYHOUSE

211 EAST SUPERIOR STREET
DULUTH,MN55802 		  PC 24-25 GENERAL OPERATING SUPPORT 12,500

DULUTH PUBLIC SCHOOLS - ISD 709

215 N 1ST AVE EAST
DULUTH,MN55802 		  PC ENHANCED OUTDOOR PLAY AND LEARNING: 18,500

DULUTH SALVATION ARMY

215 S 27TH AVE W
DULUTH,MN55806 		  PC FOOD SHELVES 15,000

FAMILY FREEDOM CENTER

301 N 1ST AVE WEST
SUITE 108
DULUTH,MN55806 		  PC FAMILY FREEDOM CENTER GENERAL OPERAT 25,000

FINLAND CHILDREN IN NATURE GROUP

6638 HIGHWAY 1
PO BOX 579
FINLAND,MN55603 		  PC YARD DEVELOPMENT 3,500

FIRST WITNESS CHILD ADVOCACY CENTER

4 W 5TH ST
DULUTH,MN55806 		  PC CHILD ABUSE PREVENTION AND RESPONSE 20,000

FRIENDS OF THE BOUNDARY WATERS WILD

2550 UNIVERSITY AVE W
STE 180 S
ST PAUL,MN55114 		  PC BOUNDARY WATERS IS OUR BACKYARD 10,000

GLORIA DEI LUTHERAN CHURCH

219 NORTH 6TH AVENUE E
DULUTH,MN55805 		  PC CENTRAL HILLSIDE PARISH NURSE PROGRA 7,650

GRAND MARAIS ART COLONY

120 3RD AVE W
PO BOX 626
GRAND MARAIS,MN55604 		  PC CERAMICS STUDIO IMPROVEMENTS 25,000

GRAND MARAIS PLAYHOUSE INC

PO BOX 996
GRAND MARAIS,MN55604 		  PC PROVIDE HIGH QUALITY THEATER AND EDU 25,000

GRAND PORTAGE BAND OF LAKE SUPERIOR

83 STEVENS ROAD
GRAND PORTAGE,MN55605 		  PC DULUTH CORE LEARNING PILOT PROJECT 10,000

GREATER DOWNTOWN COUNCIL DBA DOWNTO

5 W 1ST ST
DULUTH,MN55802 		  PC IMAGINE DOWNTOWN --- DULUTH'S 5 YEAR 15,000

GREAT LAKES AQUARIUM

353 HARBOR DRIVE
DULUTH,MN55802 		  PC LAVA TO LAKES EXHIBIT GALLERY 20,000

GUNFLINT TRAIL HISTORICAL SOCIETY

28 MOOSE POND DRIVE
GRAND MARAIS,MN55604 		  PC VIDEO EXHIBIT ENHANCEMENT AND UPGRAD 9,000

KAKO FOUNDATION

1225 E 7TH STREET
DULUTH,MN55805 		  PC THAT'S A RAP ARTIST-IN RESIDENCE SU 3,000

KIDS CLOSET OF DULUTH

2431 W 3RD ST
DULUTH,MN55806 		  PC KIDS CLOSET CLOTHING 10,000

LET'S PLANT TREES

5321 W HIGHWAY 61
PO BOX 56
LUTSEN,MN55612 		  PC FUNDING FOR 2025 MINNESOTA TREE 3,500

LOCAL INITIATIVES SUPPORT CORP

SELLWOOD BUILDING 202 W
STE 301
DULUTH,MN55802 		  PC EMERGING DEVELOPERS CAPACITY 10,000

MAJI YA CHAI LAND SANCTUARY

106 WATERFRONT DR
PO BOX 155
TWO HARBORS,MN55616 		  PC INFRASTRUCURE EXPANSION TO INCREASE 3,500

MENTOR NORTH

206 W 4TH ST
SUITE 203
DULUTH,MN55806 		  PC MENTORING TO BUILD RESILIENCE AND DE 20,000

MILLER-DWAN FOUNDATION

502 E 2ND ST
DULUTH,MN55805 		  PC NORTHLAND ADAPTIVE RECREATION'S 4TH 15,000

MINNESOTA ASSISTANCE COUNCIL VETS

1000 UNIVERSITY AVE WEST
ST PAUL,MN55104 		  PC SUPPORTIVE SERVICES FOR VETERANS IN 15,000

MINNESOTA BALLET

230 WEST SUPERIOR ST
STE 50
DULUTH,MN55802 		  PC GENERAL OPERATING SUPPORT FOR MN BAL 15,000

MINNESOTA LAND TRUST

2356 UNIVERSITY AVE W
SUITE 240
ST PAUL,MN55114 		  PC NORTH SHORE LAND CONSERVATION AND GR 31,900

NORTH SHORE AREA PARTNERS

36 SHOPPING CENTER ROAD
ROOM 20
SILVER BAY,MN55614 		  PC LEADERSHIP TRANSITION 25,000

NORTH SHORE HEALTH

515 5TH AVE W
GRAND MARAIS,MN55604 		  PC OVERHEAD BODY WEIGHT SUPPORT 20,000

ROCKY WALL PRODUCTIONS

5418 ROCKY WALL RD
SILVER BAY,MN55614 		  PC SILVER BAY CITY CENTER PARK AND SUMM 14,500

SAWTOOTH MOUNTAIN CLINIC

513 5TH AVE W
GRAND MARAIS,MN55604 		  PC THE ORAL HEALTH TASK FORCE DENTAL PR 30,000

NORTH SHORE MUSIC ASSOCIATION

PO BOX 1376
GRAND MARAIS,MN55604 		  PC PILOT COURSE FOR GROUP MUSIC PROGRAM 3,500

SUPERIOR HIKING TRAIL ASSOCIATION

PO BOX 315
618 1ST AVE
TWO HARBORS,MN55616 		  PC SHTA VOLUNTEER-CENTERED PROGRAMMING 15,000

THE NATURE CONSERVANCY

1101 WEST RIVER PARKWAY
SUITE 200
MINNEAPOLIS,MN55415 		  PC HIGHWAY 61 REFORESTATION 10,000

TWIN PORTS CHORAL PROJECT

3630 E 4TH ST
DULUTH,MN55804 		  PC 2024-2025 TWIN PORTS CHORAL PROJECT 10,000

TWO HARBORS AREA FOOD SHELF

PO BOX 601
TWO HARBORS,MN55616 		  PC FOOD PURCHASES 15,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE
SUITE 500
MINNEAPOLIS,MN55455 		  PC SUPPORT FOR GRAND PORTAGE COMMUNITY 5,300

VAAJ XAUVKAUB FOUNDATION INC

10342 E LAKEVIEW RD
POPLAR,WI54864 		  PC TWIN PORTS HMONG NEW YEAR 3,500

VITA NOVA

PO BOX 161044
DULUTH,MN55816 		  PC VITA NOVA GENERAL OPERATIONS 20,000

VIOLENCE PREVENTION CENTER

21 W 2ND ST
GRAND MARAIS,MN55604 		  PC OFFICE AND DEVELOPMENT COORDINATOR 28,000

WOLF RIDGE ENVIRONMENTAL LEARNING C

6282 CRANBERRY RD
FINLAND,MN55603 		  PC UPGRADED STUDENT TRANSPORTATION 25,000

WTIP COOK COUNTY COMMUNITY RADIO

PO BOX 1005
GRAND MARAIS,MN55604 		  PC COMMUNITY MEDIA EXPANSION & DEVELOPM 45,000

YWCA DULUTH

32 EAST FIRST ST
SUITE 202
DULUTH,MN55802 		  PC FUTURE FORWARD 20,000

ZEITGEIST CENTER FOR ARTS & COMMUNI

222 E SUPERIOR ST
STE 326
DULUTH,MN55802 		  PC POTUS: OR, BEHIND EVERY GREAT DUMBAS 1,000

FOND DU LAC TRIBAL COMMUNITY COLLEG

2101 14TH ST
CLOQUET,MN55720 		  PC SCHOLARSHIPS 19,349

LAKE SUPERIOR COLLEGE

2101 TRINITY ROAD
DULUTH,MN55811 		  PC SCHOLARSHIPS 60,608

MINNESOTA NORTH COLLEGE

1001 CHESTNUT ST
VIRGINIA,MN55792 		  PC SCHOLARSHIPS 21,225

UNIVERSITY OF WISCONSIN - SUPERIOR

PO BOX 2000
SUPERIOR,WI54880 		  PC SCHOLARSHIPS 2,500
Total .................................right arrow 3a 1,284,032
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 ........... 		    14 170  
4 Dividends and interest from securities ....     14 942,157  
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 ............ 		    14 1,645,197  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPRIOR YEAR GRANT RETURNED 		    41 1,611  
bMISCELLANEOUS REVENUE     1 798  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   2,589,933  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,589,933
(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:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES 17,125 4,281   12,844

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

TY 2024 DepreciationSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
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
OFFICE FURNITURE 2007-02-28 2,150 2,150 200DB 7.0000        
OFFICE FURNITURE/HOM 2007-03-01 1,376 1,376 200DB 7.0000        
ART WORK/UNDERWOOD PHOTOS 2007-06-01 300 300 200DB 7.0000        
ART WORK/LIZZARD'S 2007-08-01 201 201 200DB 7.0000        
COMPUTER AND PRINTER 2009-11-18 2,221 2,221 200DB 5.0000        
SHARP COPIER 2011-07-31 3,571 3,571 200DB 7.0000        
OFFICE EQUIPMENT 2013-11-01 928 928 200DB 5.0000        
COMPUTER/DOWNTOWN COMPUTERS 2014-04-30 2,046 2,046 200DB 5.0000        
DOWNTOWN COMPUTERS 2016-02-05 2,199 2,199 200DB 3.0000        
HP PROBOOK 450 2020-04-01 1,764 1,459 200DB 5.0000 203      
HP PROBOOK 430/RACHEL LAPTOP 2020-05-06 1,964 1,625 200DB 5.0000 226      
      1            

TY 2024 InvestmentsOtherSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
NORTH SHORE ACCT EQUITY MUTUAL FUNDS FMV 20,002,191 20,002,191
NORTH SHORE ACCT MONEY MARKET ACCOU FMV 700,319 700,319
ULLAND INVESTMENTS ACCOUNT FMV 10,330,730 10,330,730
NORTH SHORE ACCT ACCRUED INCOME FMV 5,653 5,653
ULLAND ACCT ACCRUED INCOME FMV 11,775 11,775

TY 2024 LandEtcSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
OFFICE FURNITURE & EQUIPMENT 18,721 18,506 215 215


TY 2024 OtherAssetsSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
PREPAID FEDERAL EXCISE TAX 10,602    


TY 2024 OtherExpensesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
DUES & MEMBERSHIPS 5,284 1,321   3,963
MISCELLANEOUS 346 87   259
INSURANCE 2,890 723   2,167
PARKING EXPENSE 2,280 570   1,710
PROMOTION & WEBSITE 2,413 603   1,810
OFFICE & POSTAGE 2,559 640   1,919
TELEPHONE EXPENSE 3,501 875   2,626
STAFF TRAINING 2,119 530   1,589
IT SERVICES 13,295 3,324   9,971


TY 2024 OtherIncomeSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PRIOR YEAR GRANT RETURNED 1,611    
MISCELLANEOUS REVENUE 798    


TY 2024 OtherIncreasesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Amount
UNREALIZED INVESTMENT GAINS 2,537,317


TY 2024 OtherLiabilitiesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value
FEDERAL EXCISE TAX PAYABLE   14,810


TY 2024 OtherProfessionalFeesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY & CUSTODIAL 98,509 98,509    
LEGAL 12,733 3,183   9,550
INVESTMENT CONSULTING 9,625 2,406   7,219
BRANDING AND WEBSITE 12,284 3,071   9,213
OTHER CONSULTING 3,425 857   2,568


TY 2024 TaxesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 34,567