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
WALTER C RASMUSSEN - NORTHEAST BANK
FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)77 BROADWAY STREET NE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55413
A Employer identification number

41-6373302
B Telephone number (see instructions)

(612) 362-3219
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$87,861J 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) 492,148
2 Check right arrow.............
3 Interest on savings and temporary cash investments 40 40  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 492,188 40 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,686 0 0 0
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
55 0 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,741 0 0 0
25 Contributions, gifts, grants paid....... 407,739 407,739
26 Total expenses and disbursements. Add lines 24 and 25 411,480 0 0 407,739
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 80,708
b Net investment income (if negative, enter -0-) 40
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............. 7,153 87,861 87,861
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..........      
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)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,153 87,861 87,861
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 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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 7,153 87,861
29 Total net assets or fund balances (see instructions)..... 7,153 87,861
30 Total liabilities and net assets/fund balances (see instructions). 7,153 87,861
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
7,153
2
Enter amount from Part I, line 27a .....................
2
80,708
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
87,861
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
87,861
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.)
1a
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 1
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 1
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 1
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
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 1
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 arrow   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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrowWWW.NEBANKMN.COM
14
The books are in care ofright arrowSDK CPAS Telephone no.right arrow (612) 332-5500

Located atright arrow100 WASHINGTON AVE S STE 1600MINNEAPOLISMN ZIP+4right arrow55401
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
BENJAMIN T RASMUSSEN DIRECTOR/VICE PRESIDENT
0.02 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
PAMELA M HARRIS DIRECTOR/SECRETARY
0.50 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
ROBERT A GUZY DIRECTOR/TREASURER
0.02 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
EVA B RASMUSSEN BOARD CHAIR/PRESIDENT
0.02 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
CHARLES L HUNTLEY DIRECTOR
0.02 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
THOMAS M BECK DIRECTOR
0.02 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
SUZANNE M SJOSELIUS DIRECTOR
2.00 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
JULIA RASMUSSEN DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
SCOTT D HUDSON DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
SARA D BOGENREIF DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55113
MICHAEL F SCHOLL DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
JANICE DEGAETANO DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
CATHY HAMMETT DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
DAVE LARSON DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
DANIEL THOMSEN DIRECTOR
0.20 		0 0 0
77 BROADWAY STREET NE
MINNEAPOLIS,MN55413
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 arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
0
b
Average of monthly cash balances.......................
1b
74,313
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
74,313
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
74,313
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,115
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
73,198
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,660
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
3,660
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
1
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,659
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
3,659
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
3,659
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
407,739
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
407,739
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 3,659
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 127,592
b From 2020...... 209,886
c From 2021...... 219,092
d From 2022...... 239,944
e From 2023...... 233,630
f Total of lines 3a through e ........ 1,030,144
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 407,739
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 3,659
e Remaining amount distributed out of corpus 404,080
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 1,434,224
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 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		127,592
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		1,306,632
10 Analysis of line 9:
a Excess from 2020.... 209,886
b Excess from 2021.... 219,092
c Excess from 2022.... 239,944
d Excess from 2023.... 233,630
e Excess from 2024.... 404,080
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:
SUZANNE SJOSELIUS
77 BROADWAY ST NE
MINNEAPOLIS,MN55413
(612) 362-3219
bThe form in which applications should be submitted and information and materials they should include:
A SINGLE PAGE PROPOSAL INCLUDING THE FOLLOWING: AMOUNT OF MONEY REQUESTED HOW THE FUNDS WILL BE USED TOTAL PROJECT BUDGET (IF APPLICABLE) A DESCRIPTION OF HOW THE PROPOSAL MEETS THE WALTER C. RASMUSSEN-NORTHEAST BANK FOUDATION'S FUNDING PRIORITIES.
cAny submission deadlines:
SEPTEMBER 15
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
STATE OF MINNESOTA ONLY
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

A CHANCE TO GROW

1800 NE 2ND ST
MINNEAPOLIS,MN55418 		  PC GENERAL SUPPORT 500

ACCAP

1201 89TH AVE NE 345
BLAINE,MN55434 		  PC AFFORABLE HOUSING 2,500

ACCESSABILITY INC

360 HOOVER ST NE
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 500

ACCORD (FORMALLY COMMUNITY INVOLVEMENT PROGRAM)

4710 QUAIL AVE N
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 500

ACHIEVE SERVICES

1201 89TH AVE NE
BLAINE,MN55434 		  PC COMMUNITY DEVELOPMENT 1,500

AEON

901 N 3RD ST 150
MINNEAPOLIS,MN55401 		  PC AFFORDABLE HOUSING 2,000

AFRICAN DEVELOPMENT CENTER

1931 S 5TH ST
MINNEAPOLIS,MN55454 		  PC COMMUNITY DEVELOPMENT 1,000

ALEXANDRA HOUSE

10065 3RD ST NE
BLAINE,MN55434 		  PC COMMUNITY DEVELOPMENT 1,500

ALLINA HEALTH FOUNDATION

2925 CHICAGO AVE MAIL ROUTE 10721
MINNEAPOLIS,MN55407 		  PC COMMUNITY DEVELOPMENT 25,000

AMERICAN CRAFT COUNCIL

1224 MARSHALL ST NE
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 2,000

ANOKA HENNEPIN EDUCATION FOUNDATION

2727 N FERRY ST
ANDOVER,MN55303 		  PC GENERAL SUPPORT 2,000

ANOKA RAMSEY COMMUNITY COLLEGE FOUNDATION

11200 MISSISSIPPI BLVD NW
COON RAPIDS,MN55433 		  PC GENERAL SUPPORT 2,000

ANOKA TECHNICAL COLLEGE FOUNDATION

1355 W HWY 10
ANOKA,MN55303 		  PC GENERAL SUPPORT 2,000

ASCENSION CATHOLIC ACADEMY

1726 DUPONT AVE N
MINNEAPOLIS,MN55411 		  PC GENERAL SUPPORT 500

ASPIRE ACADEMY

1210 SHAKOPEE TOWN SQUARE
SHAKOPEE,MN55379 		  PC GENERAL SUPPORT 500

BANYAN COMMUNITY

2529 13TH AVE S
MINNEAPOLIS,MN55404 		  PC COMMUNITY DEVELOPMENT 1,000

CARS FOR NEIGHBORS

12527 CENTRAL AVE NE 110
BLAINE,MN55434 		  PC COMMUNITY DEVELOPMENT 300

CATHOLIC ELDERCARE

817 NE MAIN ST
MINNEAPOLIS,MN55413 		  PC AFFORDABLE HOUSING 5,000

CHILDRENS DENTAL SERVICES

636 BROADWAY ST NE
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 2,500

CHORUS POLARIS

1528 BERNE RD NE
FRIDLEY,MN55421 		  PC GENERAL SUPPORT 500

CHURCH OF THE ASCENSION

1723 N BRYANT AVE
MINNEAPOLIS,MN55411 		  PC GENERAL SUPPORT 1,500

CITY OF LAKES COMMUNITY LAND TRUST

1930 GLENWOOD AVE 1
MINNEAPOLIS,MN55405 		  PC AFFORDABLE HOUSING 2,000

CLARE HOUSING

929 CENTRAL AVE NE
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 1,500

COLON CANCER COALITION

2950 XENIUM LN 102
PLYMOUTH,MN55441 		  PC GENERAL SUPPORT 500

COLUMBIA HEIGHTS HIGH SCHOOL

1440 49TH AVE NE
COLUMBIA HEIGHTS,MN55421 		  PC COMMUNITY DEVELOPMENT 1,000

COLUMBIA HEIGHTS LIBRARY

3939 CENTRAL AVE NE
COLUMBIA HEIGHTS,MN55421 		  PC REVITALIZE/STABILIZE LMI 1,000

COMMUNITY PARTNERS WITH YOUTH (NB)

1900 7TH ST NW
ST PAUL,MN55112 		  PC COMMUNITY DEVELOPMENT 1,000

COON RAPIDS COMMUNITY SCHOLARSHIP (EDUCATIONAL FUNDS)

2340 NORTHDALE BLVD NW
COON RAPIDS,MN55433 		  PC EDUCATION/ SCHOLARSHIP 1,000

COSAD

PO BOX 2059
MINNEAPOLIS,MN55311 		  PC GENERAL SUPPORT 250

CREST VIEW FOUNDATION

4444 RESERVOIR BLVD NE
COLUMBIA HEIGHTS,MN55421 		  PC AFFORDABLE HOUSING 500

DARE INC

PO BOX 279
ST BONIFACUS,MN55375 		  PC GENERAL SUPPORT 250

DELASALLE HIGH SCHOOL

ONE DELASALLE DR
MINNEAPOLIS,MN55401 		  PC GENERAL SUPPORT 4,000

DELASALLE HIGH SCHOOL

ONE DELASALLE DR
MINNEAPOLIS,MN55401 		  PC EDUCATION/SCHOLARSHIP 500

EAST SIDE NEIGHBORHOOD SERVICES

1700 NE 2ND ST
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 56,000

EASTSIDE MEALS ON WHEELS

1510 33RD AVE NE
MINNEAPOLIS,MN55418 		  PC COMMUNITY DEVELOPMENT 500

EMERGE

1834 EMERSON AVE N
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 1,000

EMMA B HOWE YMCA

8950 SPRINGBROOK DR NW
COON RAPIDS,MN55433 		  PC COMMUNITY DEVELOPMENT 500

EVERY MEAL (SHERIDAN STORY)

2723 PATTON RD
ROSEVILLE,MN55113 		  PC COMMUNITY DEVELOPMENT 500

FEED MY STARVING CHILDREN

401 93RD AVE NW
COON RAPIDS,MN55433 		  PC GENERAL SUPPORT 250

FRESH ENERGY

408 ST PETER ST 350
ST PAUL,MN55102 		  PC GENERAL SUPPORT 2,000

FRIENDS OF RAMSEY LIBRARY (NB)

4560 VICTORIA ST N
SHOREVIEW,MN55126 		  PC COMMUNITY DEVELOPMENT 10,000

FRIENDS OF THE MISSISSIPPI

101 5TH ST E 2000
ST PAUL,MN55101 		  PC GENERAL SUPPORT 500

GREATER METROPOLITAN HOUSING CORPORATION

15 S 5TH ST 710
MINNEAPOLIS,MN55402 		  PC AFFORDABLE HOUSING 3,500

HAROLD MEZILE NORTH COMMUNITY YMCA

1711 W BROADWAY AVE
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 1,500

HEARTWOOD MONTESSORI

229 13TH AVE NE
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 250

HMONG COLLEGE PREP ACADEMY

1515 BREWSTER ST
ST PAUL,MN55108 		  PC COMMUNITY DEVELOPMENT 500

HOLY CROSS CATHOLIC CHURCH

10651 CO HWY 8
KIMBALL,MN55353 		  PC GENERAL SUPPORT 500

HOPE DENTAL CLINIC

800 MINNEHAHA AVE E STE 465
ST PAUL,MN55106 		  PC COMMUNITY DEVELOPMENT 500

HOPE4YOUTH

2665 4TH AVE
ANOKA,MN55303 		  PC AFFORDABLE HOUSING 500

HOSPITALITY HOUSE YOUTH DEVELOPMENT

1220 LOGAN AVE N
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 4,000

IMMACULATE CONCEPTION CATHOLIC CHURCH

4030 JACKSON ST NE
MINNEAPOLIS,MN55421 		  PC GENERAL SUPPORT 2,250

IMPACT SERVICES

7590 LYRIC LN NE ROOM 228
FRIDLEY,MN55432 		  PC REVITALIZE/STABALIZE LMI 1,500

ISD #13

1140 49TH AVE NE
COLUMBIA HEIGHTS,MN55421 		  PC COMMUNITY DEVELOPMENT 8,536

LATINO ECONOMIC DEVELOPMENT CENTER

804 MARGARET ST
ST PAUL,MN55106 		  PC GENERAL SUPPORT 1,000

LEE CARLSON CENTER

7954 UNIVERSITY AVE NE
FRIDLEY,MN55432 		  PC GENERAL SUPPORT 24,000

LOVE TO GROW ON

6499 LAKOTA TR
LINO LAKES,MN55014 		  PC GENERAL SUPPORT 750

LUNDSTROM PERFORMING ARTS

1617 N 2ND ST
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 750

MARIA'S VOICE

PO BOX 269
CHASKA,MN55318 		  PC GENERAL SUPPORT 1,000

MERJENT FOUNDATION

1 SE MAIN STREET UNIT 300
MINNEAPOLIS,MN55414 		  PC GENERAL SUPPORT 1,500

METRO BLOOMS

2747 CEDAR AVE
MINNEAPOLIS,MN55407 		  PC GENERAL SUPPORT 750

METRO DEAF SCHOOL

1125 ENERGY PARK DR
ST PAUL,MN55108 		  PC GENERAL SUPPORT 750

METRO SCHOOL

620 OLSON MEMORIAL HWY
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 750

METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS

3137 CHICAGO AVE
MINNEAPOLIS,MN55407 		  PC ECONOMIC DEVELOPMENT 1,000

METROPOLITAN ECONOMIC DEVELOPMENT ASSOC

1256 PENN AVE N 4800
MINNEAPOLIS,MN55411 		  PC ECONOMIC DEVELOPMENT 5,000

MIDWAY STAR ACADEMY

1091 SNELLING AVE N
ST PAUL,MN55108 		  PC GENERAL SUPPORT 750

MINNESOTA BRAIN INJURY ALLIANCE

2277 MN-36
ROSEVILLE,MN55113 		  PC COMMUNITY DEVELOPMENT 1,000

MINNESOTA BUSINESS VENTURE

7100 NORTHLAND CIRCLE N 120
BROOKLYN PARK,MN55428 		  PC GENERAL SUPPORT 650

MINNESOTA MEDICAL FOUNDATION

200 OAK ST SE STE 300
MINNEAPOLIS,MN55455 		  PC GENERAL SUPPORT 5,000

MINNESOTA YOUTH ATHLETIC SERVICES

1011 OSBORNE RD NE
SPRING LAKE PARK,MN55432 		  PC GENERAL SUPPORT 1,500

MN ADULT & TEEN CHALLENGE

740 E 24TH ST
MINNEAPOLIS,MN55404 		  PC GENERAL SUPPORT 500

MOUNDSVIEW EDUCATION FOUNDATION (NB)

4570 VICTORIA ST N
SHOREVIEW,MN55126 		  PC GENERAL SUPPORT 2,000

MULTIPLYING GOOD (JEFFERSON AWARDS)

15 W 38TH ST STE 1210
NEW YORK,NY10018 		  PC GENERAL SUPPORT 500

MY VERY OWN BED

34 13TH AVE NE 106
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 13,000

NEIGHBORHOOD HEALTH SOURCE

2301 CENTRAL AVE
MINNEAPOLIS,MN55418 		  PC REVITALIZE/STABILIZE 3,000

NEMAA

1500 JACKSON ST NE 499
MINNEAPOLIS,MN55413 		  PC REVITALIZE/STABILIZE 1,500

NEXTSTAGE NONPROFITS

8011 34TH AVE S SUITE 320
BLOOMINGTON,MN55425 		  PC GENERAL SUPPORT 500

NORTH HENNEPIN COMMUNITY COLLEGE

7411 85TH AVE N
BROOKLYN PARK,MN55445 		  PC GENERAL SUPPORT 500

NORTH STAR COMMUNITY ROWING

51 E 34TH ST
MINNEAPOLIS,MN55412 		  PC GENERAL SUPPORT 500

NORTHEAST COMMUNITY DEVELOPMENT CORP

2329 CENTRAL AVE NE
MINNEAPOLIS,MN55418 		  PC REVITALIZE/STABILIZE 1,000

NORTHEAST YOUTH AND FAMILY SERVICES (GALAGOLF)

3490 LEXINGTON AVE N PRAYER CHAPEL
SHOREVIEW,MN55126 		  PC GENERAL SUPPORT 500

NORTHSIDE ACHIEVEMENT ZONE

2123 W BROADWAY AVE 100
MINNEAPOLIS,MN55411 		  PC REVITALIZE/STABILIZE 1,000

NORTHSIDE ECONOMIC OPPORTUNITY NETWORK (NEON)

1007 W BROADWAY AVE
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 2,000

PARK RIVER ESTATES CARE CENTER COUNCIL

9899 AVOCET ST NW
COON RAPIDS,MN55433 		  PC COMMUNITY DEVELOPMENT 250

PEACE LUTHERAN CHURCH

4512 FRANCE AVE N
ROBBINSDALE,MN55422 		  PC GENERAL SUPPORT 500

PRODEO ACADEMY

620 OLSON MEMORIAL HWY
MINNEAPOLIS,MN55411 		  PC COMMUNITY DEVELOPMENT 1,000

PROJECT FOR PRIDE IN LIVING

1035 E FRANKLIN AVE
MINNEAPOLIS,MN55404 		  PC REVITALIZE/STABILIZE 1,000

PROPEL NONPROFITS

1 SE MAIN ST SUITE 600
MINNEAPOLIS,MN55414 		  PC REVITALIZE/STABALIZE LMI 1,000

RALPH REEDER FOOD SHELF

2544 MOUNDS VIEW BLVD
MOUNDS VIEW,MN55112 		  PC REVITALIZE/STABALIZE LMI 500

RISE

3708 NICOLLET AVE
MINNEAPOLIS,MN55409 		  PC COMMUNITY DEVELOPMENT 3,000

SACA

627 38TH AVE NE
COLUMBIA HEIGHTS,MN55421 		  PC REVITALIZE/STABILIZE 10,500

SACA

627 38TH AVE NE
COLUMBIA HEIGHTS,MN55421 		  PC GENERAL SUPPORT 29,000

SCORE

100 SOUTH 6TH ST
MINNEAPOLIS,MN55403 		  PC REVITALIZE/STABILIZE 2,000

SIMPSON HOUSING

2740 1ST AVE S
MINNEAPOLIS,MN55408 		  PC AFFORDABLE HOUSING 2,000

SLIPKA FOUNDATAION

855 VILLAGE CENTER DR 377
NORTH OAKS,MN55127 		  PC GENERAL SUPPORT 500

SOJOURNER TRUTH ACADEMY

3820 EMERSON AVE N
MINNEAPOLIS,MN55412 		  PC COMMUNITY DEVELOPMENT 1,000

SPRINGBROOK NATURE CENTER

100 SANBURNOL DR NE
FRIDLEY,MN55432 		  PC GENERAL SUPPORT 250

ST CHARLES BORROMEO

2739 NE STINSON PKWY
ST ANTHONY,MN55418 		  PC GENERAL SUPPORT 500

ST CYRIL

229 13TH AVE NE
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 750

STEPPING STONE

2901 S WAYZATA BLVD STE 100
MINNEAPOLIS,MN55405 		  PC AFFORDABLE HOUSING 500

STORIES

2909 S WAYZATA BLVD
MINNEAPOLIS,MN55405 		  PC REVITALIZE/STABILIZE LMI 500

THE BETA GROUP

1330 LAGOON AVE
MINNEAPOLIS,MN55408 		  PC GENERAL SUPPORT 45,000

THE CAMDEN PROMISE

4656 N COLFAX AVE
MINNEAPOLIS,MN55412 		  PC COMMUNITY DEVELOPMENT 27,500

THE CONSTELLATION FUND

729 N WASHINGTON AVE STE 600
MINNEAPOLIS,MN55401 		  PC COMMUNITY DEVELOPMENT 1,000

THE COOKIE CART

1119 W BROADWAY AVE
MINNEAPOLIS,MN55411 		  PC REVITALIZE/STABILIZE LMI 250

THE DWELLING PLACE

940 44TH AVE NE 21307
COLUMBIA HEIGHTS,MN55421 		  PC AFFORABLE HOUSING 6,500

THE LINK

1210 GLENWOOD AVE
MINNEAPOLIS,MN55405 		  PC AFFORDABLE HOUSING 1,000

TSE - EMPLOYMENT PROGRAM

2027 RICE STREET
ROSEVILLE,MN55113 		  PC COMMUNITY DEVELOPMENT 500

UNITED WAY

404 S 8TH ST
MINNEAPOLIS,MN55404 		  PC COMMUNITY DEVELOPMENT 4,000

UNIVERSAL ACADEMY CHARTER SCHOOL

2919 28TH AVE S
MINNEAPOLIS,MN55406 		  PC COMMUNITY DEVELOPMENT 750

URBAN HOMEWORKS

2015 EMERSON AVE N
MINNEAPOLIS,MN55411 		  PC AFFORDABLE HOUSING 2,000

VOLUNTEERS OF AMERICA

7625 METRO BLVD
MINNEAPOLIS,MN55439 		  PC COMMUNITY DEVELOPMENT 1,000

WASHBURN CENTER

1100 GLENWOOD AVE
MINNEAPOLIS,MN55405 		  PC COMMUNITY DEVELOPMENT 1,000

WAY TO GROW

201 N IRVING AVE
MINNEAPOLIS,MN55405 		  PC COMMUNITY DEVELOPMENT 500

WEST BANK COMMUNITY DEVELOPMENT CORPORATION

1808 RIVERSIDE AVE 206
MINNEAPOLIS,MN55454 		  PC COMMUNITY DEVELOPMENT 1,000

WILDFLYER COFFEE

3262 MINNEHAHA AVE
MINNEAPOLIS,MN55406 		  PC COMMUNITY DEVELOPMENT 500

WISHES & MORE

961 HILLWIND RD NE
MINNEAPOLIS,MN55432 		  PC GENERAL SUPPORT 2,700

WOMEN VENTURE

2021 E HENNEPIN AVE 200
MINNEAPOLIS,MN55413 		  PC COMMUNITY DEVELOPMENT 5,000

WOMEN'S LIFE CARE CENTER

2870 MIDDLE ST
ST PAUL,MN55117 		  PC COMMUNITY DEVELOPMENT 1,000

YINGHUA ACADEMY

1616 BUCHANAN ST NE
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 500

THE OLD HORSE

19025 COATES BLVD
HASTINGS,MN55033 		  PC GENERAL SUPPORT 250

PREPARE & PROSPER

2610 UNIVERSITY AVE W 450
ST PAUL,MN55114 		  PC GENERAL SUPPORT 500

MINNESOTA TOOL LIBRARY

1620 CENTRAL AVE NE 126
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 500

COMMUNITY EMERGENCY ASSISTANCE PROGRAM

7051 BROOKLYN BLVD
MINNEAPOLIS,MN55429 		  PC GENERAL SUPPORT 250

CEO COHORT

13000 MURIEL RD
HOPKINS,MN55305 		  PC GENERAL SUPPORT 1,000

ALEXANDRA HOUSE

10065 3RD ST NE
BLAINE,MN55434 		  PC GENERAL SUPPORT 1,500

ARENA DANCES

711 W LAKE STREET STUDIO 308
MINNEAPOLIS,MN55408 		  PC GENERAL SUPPORT 500

NORTHERN STAR SCOUTING

400 SELBY AVE STE B
ST PAUL,MN55102 		  PC GENERAL SUPPORT 250

STELLER KINDNESS PROJECT

945 BROADWAY ST NE
MINNEAPOLIS,MN55413 		  PC GENERAL SUPPORT 500

BROWN BOYS BENEFIT

13216 URBANK CT NE
MINNEAPOLIS,MN55449 		  PC GENERAL SUPPORT 500

DOUGHERTY FAMILY COLLEGE

861 LAKE ST N
WAYZATA,MN55391 		  PC GENERAL SUPPORT 5,000

NORTHSIDE BOXING CLUB

1704 N 33RD AVE
MINNEAPOLIS,MN55412 		  PC GENERAL SUPPORT 816

THE FAMILY PARTNERSHIP

1527 E LAKE ST
MINNEAPOLIS,MN55407 		  PC GENERAL SUPPORT 987

DEMO

3252 LYNDALE SOUTH
MINNEAPOLIS,MN55408 		  PC GENERAL SUPPORT 3,000
Total .................................right arrow 3a 407,739
bApproved for future payment
Total ................................. right arrow 3b 0
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 40  
4 Dividends and interest from securities ....          
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 ............ 		         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 40 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
40
(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
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Form 990-PF (2024)
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Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
WALTER C RASMUSSEN - NORTHEAST BANK
FOUNDATION
Employer identification number

41-6373302
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
WALTER C RASMUSSEN - NORTHEAST BANK
FOUNDATION 		Employer identification number
41-6373302
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
NORTHEAST BANK
 
77 BROADWAY STREET NE
 
MINNEAPOLIS, MN55413

$ 183,543


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
RASMUSSEN FAMILY FOUNDATION
 
77 BROADWAY ST NE
 
MINNEAPOLIS, MN55413

$ 286,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
WALTER C RASMUSSEN - NORTHEAST BANK
FOUNDATION 		Employer identification number

41-6373302
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
WALTER C RASMUSSEN - NORTHEAST BANK
FOUNDATION 		Employer identification number

41-6373302
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
WALTER C RASMUSSEN - NORTHEAST BANK
 
FOUNDATION
EIN:
41-6373302
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTANT 3,686 0 0 0

TY 2024 OtherExpensesSchedule
Name:
WALTER C RASMUSSEN - NORTHEAST BANK
 
FOUNDATION
EIN:
41-6373302
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER 55 0 0 0