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
BRAD SETHNESS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)180 N STETSON AVENUE 1940
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60601
A Employer identification number

83-2683469
B Telephone number (see instructions)

(312) 819-4061
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$5,583,184J 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 1,743 1,743  
4 Dividends and interest from securities... 103,742 103,742  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 64,779
b Gross sales price for all assets on line 6a 1,814,024
7 Capital gain net income (from Part IV, line 2)... 64,779
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........ 170,264 170,264  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 13,961      
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
4,750      
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 list of attachments
List of Attached Documents:
// Content
47,980 43,466    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 66,691 43,466   0
25 Contributions, gifts, grants paid....... 280,000 280,000
26 Total expenses and disbursements. Add lines 24 and 25 346,691 43,466   280,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -176,427
b Net investment income (if negative, enter -0-) 126,798
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.............      
2 Savings and temporary cash investments......... 124,833 83,269 83,269
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) 260,960 Click to see attachment
List of Attached Documents:
// Content
365,790 		349,359
b Investments—corporate stock (attach schedule)....... 1,397,480 Click to see attachment
List of Attached Documents:
// Content
1,139,204 		2,520,141
c Investments—corporate bonds (attach schedule)....... 169,481    
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).......... 2,172,488 Click to see attachment
List of Attached Documents:
// Content
2,360,552 		2,630,415
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) 4,125,242 3,948,815 5,583,184
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 4,125,242 3,948,815
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)..... 4,125,242 3,948,815
30 Total liabilities and net assets/fund balances (see instructions). 4,125,242 3,948,815
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
4,125,242
2
Enter amount from Part I, line 27a .....................
2
-176,427
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
3,948,815
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
3,948,815
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 PUBLICLY TRADED SECURITIES P    
b Capital Gain Dividends      
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 1,790,913   1,749,245 41,668
b       23,111
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       41,668
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 64,779
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 41,668
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 1,762
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 1,762
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,762
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 2,515
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 2,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,515
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 2,753
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow2,753 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 arrowIL
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowRANDALL ROMEI Telephone no.right arrow (312) 819-4060

Located atright arrow180 N STETSON AVENUE 1940CHICAGOIL ZIP+4right arrow60601
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
 
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
RANDALL ROMEIClick to see attachment
List of Attached Documents:
// Content
SECRETARY/DIR
0.10 		0   13,961
180 N STETSON AVE 1940
CHICAGO,IL60601
DANIEL B SETHNESS PRESIDENT/DIR
0.10 		0    
N3175 EAST DUCK LAKE ROAD
WATERSMEET,MI49969
MARILYN B SETHNESS VICE PRES/DIR
0.10 		0    
N3175 EAST DUCK LAKE ROAD
WATERSMEET,MI49969
MARINA M SETHNESS TREASURER/DIR
0.10 		0    
689 N DESHKA RIDGE DRIVE
PALMER,AK99645
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
5,375,541
b
Average of monthly cash balances.......................
1b
158,795
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
5,534,336
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
5,534,336
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
83,015
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
5,451,321
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
272,566
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
272,566
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
1,762
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,762
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
270,804
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
270,804
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
270,804
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
280,000
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
280,000
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 7 270,804
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...... 10,986
e From 2023...... 11,591
f Total of lines 3a through e ........ 22,577
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 280,000
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 270,804
e Remaining amount distributed out of corpus 9,196
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 31,773
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 ...... 		31,773
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022.... 10,986
d Excess from 2023.... 11,591
e Excess from 2024.... 9,196
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).)
DANIEL B SETHNESS
MARINA M SETHNESS
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year
BEAN'S CAFE THE CHILDRENS LUNCHBOX


1020 E 4TH AVE
ANCHORAGE,AK99501 		NONE PC UNRESTRICTED 20,000
BOB FINCH MEMORIAL FUND


2319 13TH AVE S
CLINTON,IA52732 		NONE PC UNRESTRICTED 10,000
CRESTED BUTTE AVALANCHE CENTER


PO BOX 2351
CRESTED BUTTE,CO81224 		NONE PC UNRESTRICTED 25,000
CURTIS MANSION FOUNDATION


500 DEER RUN
MIAMI SPRINGS,FL33166 		NONE PC UNRESTRICTED 10,000
EAGLE RIVER ROTARY


PO BOX 1191
EAGLE RIVER,WI54521 		NONE PC WARM THE CHILDREN 10,000
GATEWAY CONTEMPORARY BALLET


1122 N 3RD ST BOX 1183
CLINTON,IA52732 		NONE PC UNRESTRICTED 5,000
GUNNISON VALLEY HEALTH FOUNDATION


711 N TAYLOR ST
GUNNISON,CO81230 		NONE PC UNRESTRICTED 10,000
MISS HALLS SCHOOL


492 HOLMES RD
PITTSFIELD,MA01201 		NONE PC UNRESTRICTED 20,000
ST VINCENT DEPAUL SOCIETY-IRONWOOD


216 W AURORA ST
IRONWOOD,MI49938 		NONE PC UNRESTRICTED 5,000
VILAS FOOD PANTRY


1013 N RAILROAD ST
EAGLE RIVER,WI54521 		NONE PC UNRESTRICTED 10,000
YWCA


317 7TH AVE S
CLINTON,IA52732 		NONE PC UNRESTRICTED 25,000
CLINTON SYMPHONY ORCHESTRA


PO BOX 116
CLINTON,IA52732 		NONE PC UNRESTRICTED 5,000
UNITED NEGRO COLLEGE FUND


1805 7TH STREET NW
WASHINGTON,DC20001 		NONE PC UNRESTRICTED 20,000
UNDERDOG PET RESCUE OF WISCONSIN


231 S FAIR OAKS AVE
MADISON,WI53704 		NONE PC UNRESTRICTED 5,000
ALASKA FARMLAND TRUST


248 E DAHILA AVE
PALMER,AK99645 		NONE PC UNRESTRICTED 5,000
HATCHER ALPINE EXPERIENCE


PO BOX 924
PALMER,AK99645 		NONE PC UNRESTRICTED 25,000
HATCHER PASS AVALANCHE CENTER


5269 N BRYWOOD CIR
PALMER,AK99645 		NONE PC UNRESTRICTED 15,000
MY HOUSE


300 N WILLOW DRIVE
WASILLA,AK99654 		NONE PC UNRESTRICTED 10,000
CHALLENGE ALASKA


740 BONANZA AVENUE
ANCHORAGE,AK99518 		NONE PC UNRESTRICTED 10,000
CHUGACH AVALANCHE CENTER


145 FOREST STATION ROAD
GIRDWOOD,AK99587 		NONE PC UNRESTRICTED 10,000
PAUL B SHARAR FOUNDATION


1000 LINCOLN BLVD
CLINTON,IA52732 		NONE PC BICKELAUPT ARBORETUM 25,000
Total .................................right arrow 3a 280,000
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 1,743  
4 Dividends and interest from securities ....     14 103,742  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 64,779  
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) ..   170,264  
13Total. Add line 12, columns (b), (d), and (e)..................
13
170,264
(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: 24020490
Software Version: 2024v5.1


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION 4,750 0 0 0

TY 2024 CompensationExplanation
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
Person Name Explanation
RANDALL ROMEI ALL COMPENSATION AMOUNTS CONSIST OF LEGAL AND OTHER PROFESSIONAL FEES PAID TO ASHCRAFT & ASHCRAFT LTD, WHICH IS MORE THAN 35% OWNED BY RANDALL ROMEI.

TY 2024 InvestmentsCorpStockSchedule
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
Name of Stock End of Year Book Value End of Year Fair Market Value
PROLOGIS INC 5,418 7,610
ABBVIE INC 7,724 17,948
AUTOMATIC DATA PROC 869 2,342
BROADCOM INC 20,239 50,077
CISCO SYSTEMS INC 7,761 11,840
ILLINOIS TOOL WORKS 2,682 4,564
JPMORGAN CHASE & CO 11,417 26,847
MONDELEZ INTERNATIONAL 4,392 4,241
MICROSOFT CORP 64,414 200,634
PNC FINCL SERVICES GROUP 2,052 4,645
PHILLIPS 66 2,294 3,874
ABBOTT LABS 28,539 34,612
ALLSTATE CORP 1,625 4,241
ADOBE INC 8,140 12,451
AKAMAI TECHNOLOGIES 86 96
AIR PRODUCTS & CHEMICALS 1,838 2,320
AMAZON COM INC 39,606 93,460
AVALONBAY CMMUN INC REIT 836 1,320
AMERICAN INTERNATIONAL GROUP INC 955 3,567
ACCENTURE PLC 16,443 31,309
ARISTAR NETWORK 974 7,074
ALPHABET INC 25,839 88,025
AXON ENTERPRISE INC 1,744 16,047
AT&T 2,740 4,053
AMER EXPRESS COMPANY 5,570 18,698
AMERICAN WATER WORKS 13,832 14,690
APPLE INC 43,432 219,118
APPLIED MATERIAL INC 2,920 11,221
ARCHER DANIELS MIDLAND 6,132 5,658
BUNGE LIMITED 2,068 4,277
BANK OF AMERICA CORP 11,139 18,195
BLACKROCK INC 5,126 12,301
BANK NEWYORK MELLON CORP 10,969 19,899
CSX CORP 681 1,291
CIGNA CORP 6,923 9,665
CORTEVA INC 1,030 2,221
CAPITAL ONE FINANCIAL 965 3,923
COSTSO WHOLESALE CORP 2,372 8,246
CHEVRON CORP 8,155 11,877
CENTERPOINT ENERGY INC 892 2,221
CONOCO PHILLIPS 4,955 10,909
CATERPILLAR INC 3,686 11,246
CNX RES CORP 206 1,100
CBRE GROUP INC 6,046 18,643
CITIGROUP INC 4,339 7,743
CLOROX CO 7,141 8,608
COCA COLA 22,109 27,581
COLGATE POLMOLIVE 15,667 19,909
CUMMINS INC 1,920 4,880
DUPONT DE NEMOURS 1,337 2,211
DARDEN RESTAURANTS INC 752 1,680
DANAHER CORP 19,466 21,578
DEVON ENERGY CORP 901 4,909
DELTA AIR LINES INC 1,333 3,267
DEERE CO 2,274 5,932
D R HORTON INC 938 4,195
EBAY INC 2,313 4,275
ECOLAB INC 26,495 34,211
EQUINIX INC 1,017 1,886
EVERSOURCE ENERGY 8,186 8,902
FMC CORP 4,157 3,549
META PLATFORMS INC 18,159 62,650
GAP INC 1,261 3,993
GOLDMAN SACHS GROUP INC 3,704 12,025
GENERAL MILLS 3,905 4,719
GENERAL MOTORS CO 5,315 11,986
GILEAD SCIENCES INC 1,627 2,586
HALLIBURTON CO 602 1,713
HARTFORD FINL SVCS GROUP 15,353 24,506
HESS CORP 1,021 3,059
HCA HEALTHCARE INC 615 2,401
HUBSPOT INC 236 1,393
HEWLETT PACKARD ENTERPRISE CO 425 918
HP INC 3,407 7,081
HILTON WORLDWIDE 9,008 29,165
HERSHEY COMPANY 2,749 3,387
HOME DEPOT INC 6,851 12,837
IDEXX LAB 188 413
INTEL CORP 3,853 3,809
INTL BUSINESS MACHINES 906 2,198
INTERPUBLIC GROUP OF CO 4,209 7,117
IRON MOUNTAIN REIT 1,857 7,358
INTUIT INC 4,861 11,941
JOHNSON & JOHNSON 49,582 48,592
KLA CORP 602 3,151
KEYSITE TECHNOLOGIES 980 1,928
KROGER CO 5,335 8,867
LINDE PLC 10,008 21,771
LINCOLN ELECTRIC HOLDINGS 486 1,125
LAM RESEARCH CORP 801 2,167
ELI LILLY & CO 6,692 46,320
LINCOLN NTL CORP 924 1,110
LOWES COMPANIES INC 5,465 13,574
MORGAN STANLEY 2,071 6,286
MARRIOTT INTL INC 5,751 12,552
MCKESSON CORP 3,049 12,538
MASTERCARD INC 13,475 26,855
MERCK & CO INC 13,173 16,812
MOTOROLA SOLUTIONS INC 2,375 7,396
MARATHON PETROLEUM INC 2,075 9,346
MEDTRONIC PLC 4,291 4,234
S&P GLOBAL INC 13,811 24,403
MICRON TECHNOLOGY INC 2,559 5,386
NASDAQ OMX GRP INC 1,075 3,015
NVIDA 5,335 186,663
NETFLIX COM INC 2,854 13,370
NETAPP INC 600 1,625
NEWMONT CORPORATION 4,722 4,913
NORFOLK SOUTHERN CORP 6,785 7,980
ON SEMICONDUCTOR CORP 1,338 5,233
OWENS CORNING INC 3,924 16,351
OCCIDENTAL PETE CORP 1,194 3,903
OMNICOM GROUP 20,056 22,629
ORACLE CORP 1,273 4,499
PNC FINCL SERVICES GROUP 5,136 9,064
PEPSICO INC 23,028 26,458
QUANTRA SERVICES INC 894 8,217
QUALCOMM INC 6,656 13,979
RESMED INC 1,673 3,202
REGENCY CENTERS CORP REIT 515 1,035
REGENERON PHARMACTCLS 930 1,425
RYDER SYSTEM INC 222 1,098
STATE STREET CORP 9,033 14,232
SCHLUMBERGER LTD 3,542 8,320
SALESFORCE COM INC 12,356 28,084
SEAGATE TECH HLDGS PUB LTD 889 1,554
SERVICENOW INC 1,499 5,301
SOUTHWEST AIRLINES CO 1,470 2,084
STARBUCKS CORP 12,964 15,878
TJX COS INC 1,937 4,712
TEXAS INSTRUMENTS 4,643 7,875
3M COMPANY 2,178 3,744
TESLA INC 39,352 45,634
TE CONNECTIVITY LTD 2,567 5,004
THE MOSAIC COMPANY 994 2,114
TAYLOR MORRISON HOME CORP CL A 287 1,285
JOHNSON CONTROLS INTER 4,382 10,971
THERMO FISCHER SCIENTIFIC 3,382 6,243
VIARTIS INC 31 25
UNITEDHEALTH GROUP INC 10,106 20,740
UNION PACIFIC CORP 9,014 13,682
VENTAS INC 4,736 8,127
VISA INC CL A 16,468 31,288
VERISK ANALYTICS INC 21,477 30,848
XYLEM INC 2,726 4,641
WYERHAEUSER CO 6,034 6,531
YUM BRANDS INC 1,822 3,488
WASTE MANAGEMENT INC 9,006 17,758
WELLS FARGO & CO 4,440 12,081
ADVANCED MICRO DEVICES 6,510 11,958
BEST BUY CO 3,875 4,891
KYNDRYL HOLDINGS INC 27 34
MOODY'S CORP 18,328 27,455
ORGANON & CO 77 30
TARGET CORP 4,140 6,353
CARRIER GLOBAL CORP 1,573 2,594
TAPESTRY INC 1,448 5,945
EMBECTA CORP 28 21
PRUDENTIAL FINANCIAL INC 4,024 8,179
GEN DIGITAL INC 3,371 3,505
ELEVANCE HEALTH INC 2,473 4,058
ALCOA CORP 2,197 3,551
AMGEN 4,278 6,255
BURLINGTON STORES INC 960 2,280
CENCORA INC 1,558 4,044
DELL TECHNOLOGIES INC 503 2,881
DIGITAL REALTY TR INC 938 1,419
EXXON MOBILE 7,411 20,653
HASBRO INC 2,997 3,355
INTL FLAVORS & FRAGRANCE 8,174 8,286
NORTHERN TRUST CORP 1,458 2,357
TRAVELERS COS 5,233 12,044
UNITED RENTALS 797 1,409
VERIZON COMMUNICATIONS 7,939 9,398
VERTEX PHARMCTLS INC 1,433 2,819
W W GRAINGER 273 1,054
ALBEMARLE CORP 6,505 6,284
DECKERS OUTDOORS CORP 7,327 7,311
FREEPORT-MCMORAN INC 8,116 7,235

TY 2024 InvestmentsGovtObligationsSch
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
US Government Securities - End of Year Book Value:

365,790
US Government Securities - End of Year Fair Market Value:

349,359
State & Local Government Securities - End of Year Book Value:


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


 


TY 2024 InvestmentsOtherSchedule2
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BLACKSTONE REAL ESTATE INCOME TRUST AT COST 166,804 235,758
PARTNERS GROUP PRIVATE EQUITY MASTERS FD AT COST 121,767 161,804
PRINCIPAL MIDCAP FUND CLASS I AT COST 41,633 50,275
CALVERT EQUITY FUND CLASS I AT COST 119,823 171,402
GUGGENHEIM TOTAL RETURN BOND FD AT COST 128,327 119,030
CCM COMMUNITY IMPACT BOND FUND AT COST 107,414 95,781
GS GQG PARTNERS INTL OPPS FD AT COST 49,998 51,971
OAKMARK INTL FD AT COST 43,190 45,267
PERMANENT PORTFOLIO FUND AT COST 154,247 191,595
ISHARES RUSSELL 1000 VALUE AT COST 98,685 124,963
CALAMOS MARKET NEUTRAL INCOME FD CL I AT COST 116,278 124,546
BLACKROCK ALPHA AT COST 154,238 168,307
ARISTOTLE STRATEGIC AT COST 121,439 121,685
FIXED INCOME SHARES SER C AT COST 182,368 176,781
FIXED INCOME SHARES SER M AT COST 182,339 177,791
INVESCO S&P 500 EQUAL AT COST 117,286 127,042
ISHARES EDGE MSCI AT COST 91,530 101,862
MACQUARIE EMERGING MARKETS FD AT COST 39,454 46,287
MACQUARIE SMALL CAP CORE AT COST 56,892 63,615
PACER US CASH COWS 100 AT COST 71,599 75,288
PACER US SMALL CAP CASH COWS AT COST 80,161 73,276
WISDOMTREE U.S. QUALITY DIVIDEND GROWTH AT COST 115,080 126,089

TY 2024 OtherExpensesSchedule
Name:
BRAD SETHNESS FOUNDATION
EIN:
83-2683469
Software ID:
24020490
Software Version:
2024v5.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BOOK-TAX TIMING DIFFERENCES 2,999      
FEDERAL EXCISE TAX 1,500      
ILLINOIS ANNUAL FEE 15      
INVESTMENT EXPENSES 43,466 43,466