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 06-01-2024 , and ending 05-31-2025
Name of foundation
JPC FOUNDATION
C/O MICHAEL GRIFFIN
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 5957
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
JANESVILLE, WI535475957
A Employer identification number

39-1703739
B Telephone number (see instructions)

(608) 754-6601
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$8,505,780J 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) 800,000
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 166,624 166,624  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 189,620
b Gross sales price for all assets on line 6a 1,931,339
7 Capital gain net income (from Part IV, line 2)... 189,620
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........ 1,156,244 356,244  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 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
3,656 3,656   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
25,286 25,286   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
2,300 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 31,242 28,942   0
25 Contributions, gifts, grants paid....... 522,782 522,782
26 Total expenses and disbursements. Add lines 24 and 25 554,024 28,942   522,782
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 602,220
b Net investment income (if negative, enter -0-) 327,302
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......... 13,976 41,730 41,730
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) 0 Click to see attachment
List of Attached Documents:
// Content
141,429 		141,429
b Investments—corporate stock (attach schedule)....... 4,086,015 Click to see attachment
List of Attached Documents:
// Content
4,286,560 		5,918,932
c Investments—corporate bonds (attach schedule)....... 1,967,932 Click to see attachment
List of Attached Documents:
// Content
2,199,138 		2,111,837
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).......... 291,674 Click to see attachment
List of Attached Documents:
// Content
300,092 		291,352
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
4,400 		Click to see attachment
List of Attached Documents:
// Content
500 		Click to see attachment
List of Attached Documents:
// Content
500
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,363,997 6,969,449 8,505,780
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........ 1,846,348 1,846,348
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 4,517,649 5,123,101
29 Total net assets or fund balances (see instructions)..... 6,363,997 6,969,449
30 Total liabilities and net assets/fund balances (see instructions). 6,363,997 6,969,449
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
6,363,997
2
Enter amount from Part I, line 27a .....................
2
602,220
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
3,250
4
Add lines 1, 2, and 3 ..........................
4
6,969,467
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
18
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
6,969,449
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 - ST      
b PUBLICLY TRADED SECURITIES - LT      
c CAPITAL GAINS DIVIDENDS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,451,479   1,426,785 24,694
b 363,983   314,934 49,049
c 115,877     115,877
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       24,694
b       49,049
c       115,877
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 2 189,620
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 4,549
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 4,549
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 4,549
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 4,117
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 4,117
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 432
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 arrowWI
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 arrowJP CULLEN SONS INC Telephone no.right arrow (608) 754-6601

Located atright arrow330 E DELAVAN DRIVEJANESVILLEWI ZIP+4right arrow535462711
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
MARK A CULLEN TRUSTEE
0.50 		0 0 0
PO BOX 5957
JANESVILLE,WI535475957
LAURA J HUIBREGTSE TRUSTEE
0.50 		0 0 0
PO BOX 5957
JANESVILLE,WI535475957
DANIEL J CULLEN TRUSTEE
0.50 		0 0 0
PO BOX 5957
JANESVILLE,WI535475957
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
7,823,276
b
Average of monthly cash balances.......................
1b
88,264
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
7,911,540
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
7,911,540
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
118,673
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
7,792,867
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
389,643
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
389,643
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
4,549
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,549
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
385,094
4
Recoveries of amounts treated as qualifying distributions................
4
3,250
5
Add lines 3 and 4............................
5
388,344
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
388,344
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
522,782
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
522,782
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 7 388,344
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...... 81,379
b From 2020...... 26,599
c From 2021...... 201,198
d From 2022...... 164,557
e From 2023...... 237,801
f Total of lines 3a through e ........ 711,534
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 522,782
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..... 388,344
e Remaining amount distributed out of corpus 134,438
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 5 845,972
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) ... 		81,379
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		764,593
10 Analysis of line 9:
a Excess from 2020.... 26,599
b Excess from 2021.... 201,198
c Excess from 2022.... 164,557
d Excess from 2023.... 237,801
e Excess from 2024.... 134,438
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).)
MARK A CULLEN
LAURA J HUIBREGTSE
DANIEL J CULLEN
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

ALZHEIMER'S ASSOCIATION - SOUTH CENTRAL WI

2820 WALTON COMMONS SUITE 132
MADISON,WI53718 		  PC FREY FAMILY MEMORIAL 500

AMERICAN CANCER SOCIETY

4207 LINDELL BLVD
SAINT LOUIS,MO63108 		  PC COACHES VS CANCER 4,540

AMERICAN HEART ASSOCIATION

2850 DAIRY DRIVE SUITE 130
MADISON,WI53718 		  PC HEART HEALTH SUPPORT 2,830

AMERICAN HEART ASSOCIATION

2850 DAIRY DRIVE SUITE 130
MADISON,WI53718 		  PC HEART HEALTH SUPPORT 5,000

AMERICAN HEART ASSOCIATION

2850 DAIRY DRIVE SUITE 130
MADISON,WI53718 		  PC HEART HEALTH SUPPORT 2,500

AMERICAN HEART ASSOCIATION

2850 DAIRY DRIVE SUITE 130
MADISON,WI53718 		  PC HEART HEALTH SUPPORT 5,000

AMERICAN HEART ASSOCIATION

2850 DAIRY DRIVE SUITE 130
MADISON,WI53718 		  PC HEART HEALTH SUPPORT 2,500

AMERICAN RED CROSS

4860 SHEBOYGAN AVENUE
MADISON,WI53705 		  PC DONATION - LUKE SANDER MARCH 2,205

ARIZONA STATE UNIVERSITY

1151 S FOREST AVENUE
TEMPE,AZ85287 		  GOV SCHOLARSHIP 1,000

BADGER HONOR FLIGHT

PO BOX 258066
MADISON,WI53725 		  PC COMMUNITY SUPPORT 1,925

BIG BROTHERS BIG SISTERS OF DANE COUNTY

2059 ATWOOD AVENUE SUITE 2
MADISON,WI53704 		  PC YOUTH DEVELOPMENT SUPPORT 1,750

BLACKHAWK TECHNICAL COLLEGE FOUNDATION

6004 S COUNTY ROAD G
JANESVILLE,WI53546 		  PC SCHOLARSHIPS 1,000

BLACKHAWK TECHNICAL COLLEGE FOUNDATION

6004 S COUNTY ROAD G
JANESVILLE,WI53546 		  PC SCHOLARSHIP 1,000

BLACKHAWK VOCATIONAL TECHNICAL DISTRICT EDUCATIONAL FOUNDATION INC

6004 S COUNTY ROAD G
JANESVILLE,WI53546 		  PC TRACK PROJECT (1 OF 5) 20,000

BOYS AND GIRLS CLUB OF JANESVILLE INC

200 W COURT STREET
JANESVILLE,WI53548 		  PC YOUTH DEVELOPMENT SUPPORT 2,000

CASA OF ROCK COUNTY INC

51 S MAIN STREET ROOM 245
JANESVILLE,WI53545 		  PC COMMUNITY SUPPORT 500

CEDAR CREST FOUNDATION INC

1702 S RIVER ROAD
JANESVILLE,WI53546 		  PC BENEVOLENT CARE SUPPORT 3,400

CHILDREN'S MUSEUM OF ROCK COUNTY

PO BOX 8042
JANESVILLE,WI53547 		  PC SUPPORT (2 OF 5) 20,000

CITY OF JANESVILLE

18 N JACKSON STREET
JANESVILLE,WI53548 		  GOV FIRE DEPARTMENT PULSE POINT PROJECT 500

COMMUNITY FOUNDATION OF SOUTHERN WISCONSIN

PO BOX 8125
JANESVILLE,WI53547 		  PC WOMEN'S FUND 500

CRAFTSMAN WITH CHARACTER FOUNDATION INC

20 GEAR DRIVE
EDGERTON,WI53534 		  PC SUPPORT (1 OF 3) 15,000

DECATUR PARKS FOUNDATION

620 EAST RIVERSIDE AVENUE
DECATUR,IL62521 		  PC DECATUR PARK DISTRICT SUPPORT 10,000

DISTRICT COUNCIL OF MADISON INC SOCIETY OF ST VINCENT DE PAUL

2033 FISH HATCHERY ROAD
MADISON,WI53713 		  PC CENTENNIAL 1,000

EDGERTON HOSPITAL CAPITAL FOUNDATION INC

11101 N SHERMAN ROAD
EDGERTON,WI53534 		  PC EDGERTON HOSPITAL SUPPORT PLEDGE 5,000

EDGERTON SCHOOL DISTRICT

200 ELM HIGH DRIVE
EDGERTON,WI53534 		  GOV SUPPORT (2 OF 3) 25,000

EDGERTON YOUTH SOCCER ASSOCIATION

1224 LESLIE DRIVE
EDGERTON,WI53534 		  PC YOUTH DEVELOPMENT SUPPORT 250

EDGEWOOD COLLEGE

1000 EDGEWOOD COLLEGE DRIVE
MADISON,WI53711 		  PC SCHOLARSHIP 1,000

FISCC INC (FRIENDS OF THE WOODMAN'S CENTER)

20 S MAIN STREET
JANESVILLE,WI53545 		  PC SUPPORT (2 OF 3) 16,700

FORWARD FOUNDATION INC

14 SOUTH JACKSON STREET
JANESVILLE,WI53545 		  PC SUPPORT (2 OF 3) 16,666

GOOD SAMARITAN INN

920 N UNION STREET
DECATUR,IL62522 		  PC MEALS SUPPORT 10,000

GRACE UNITED CHURCH OF CHRIST

531 S 3RD AVENUE
WAUSAU,WI54401 		  PC MEMORIAL - JERRY BIZJAK 500

HIGHLAND COMMUNITY COLLEGE FOUNDATION

2998 W PEARL CITY ROAD
FREEPORT,IL61032 		  PC SCHOLARSHIP 1,000

ILLINOIS INSTITUTE OF TECHNOLOGY

3424 S STATE STREET TC-4 FL
CHICAGO,IL60616 		  PC SCHOLARSHIP 1,000

JANESVILLE MORNING ROTARY FOUNDATION INC

PO BOX 645
JANESVILLE,WI53547 		  PC COMMUNITY SUPPORT 2,500

JANESVILLE PERFORMING ARTS CENTER

408 S MAIN STREET
JANESVILLE,WI53545 		  PC ARTS SUPPORT 2,500

JASON GROSS MEMORIAL FOUNDATION LTD

3135 MEIER ROAD
MADISON,WI53718 		  PC BRAIN CANCER RESEARCH 500

JOURNEY MENTAL HEALTH CENTER INC

25 KESSEL COURT SUITE 105
MADISON,WI53711 		  PC COMMUNITY SUPPORT FOR PEOPLE WITH MENTAL ILLNESS 500

JOURNEY MENTAL HEALTH CENTER INC

25 KESSEL COURT SUITE 105
MADISON,WI53711 		  PC COMMUNITY SUPPORT FOR PEOPLE WITH MENTAL ILLNESS 500

KANDU INDUSTRIES INC

15 PLUMB STREET
MILTON,WI53563 		  PC SUPPORT (2 OF 3) 33,333

LINN JOINT NO 6 SCHOOL DISTRICT (REEK SCHOOL DISTRICT)

W4094 SOUTH LAKESHORE DRIVE
LAKE GENEVA,WI53147 		  GOV REEK ELEMENTARY SCHOOL 4,800

LOGAN'S HEARTS AND SMILES

PO BOX 259881
MADISON,WI53725 		  PC HOME SAFETY AND ACCESSIBILITY FOR CHILDREN 500

MACON COUNTY FAIR ASSOCIATION

3700 N WESTLAWN AVENUE
DECATUR,IL62526 		  PC COUNTY FAIR 2,500

MICHIGAN TECH UNIVERSITY

1400 TOWNSEND DRIVE
HOUGHTON,MI49931 		  PC SCHOLARSHIP 1,000

MICHIGAN TECH UNIVERSITY

1400 TOWNSEND DRIVE
HOUGHTON,MI49931 		  PC SCHOLARSHIP 1,000

MILTON SCHOOL DISTRICT

448 E HIGH STREET
MILTON,WI53563 		  GOV MILTON BASEBALL BOOSTER CLUB 250

MILTON SCHOOL DISTRICT

448 E HIGH STREET
MILTON,WI53563 		  GOV SCOREBOARD (3 OF 3) 8,333

MILWAUKEE SCHOOL OF ENGINEERING

1025 N BROADWAY
MILWAUKEE,WI53202 		  PC SCHOLARSHIPS 4,000

MILWAUKEE SCHOOL OF ENGINEERING

1025 N BROADWAY
MILWAUKEE,WI53202 		  PC SCHOLARSHIPS 6,000

MIRACLE LEAGUE OF DANE COUNTY

4064 VILAS ROAD
COTTAGE GROVE,WI53527 		  PC SUPPORT 1,950

NORTHEAST COMMUNITY FUND

839 N MARTIN LUTHER KING JR DRIVE
DECATUR,IL62521 		  PC COMMUNITY SUPPORT 2,500

OPERATION FRESH START

2670 MILWAUKEE STREET
MADISON,WI53704 		  PC HUMAN SERVICES (4 OF 5) 4,800

PARDEEVILLE AREA SCHOOL DISTRICT

120 OAK STREET
PARDEEVILLE,WI53954 		  GOV EDUCATIONAL SUPPORT 250

PRINCETON UNIVERSITY

PO BOX 430
PRINCETON,NJ08544 		  PC SCHOLARSHIP 1,000

REVITALIZE MILWAUKEE INC

840 N DR MARTIN LUTHER KING JR DR
STE 600
MILWAUKEE,WI53203 		  PC BLOCK BUILD 7,500

ROCK COUNTY RESTORATIONS SUBSTANCE ABUSE RECOVERY CENTER

2091 SHOPIERE ROAD SUITE B
BELOIT,WI53511 		  PC STRIKE OUT 500

ROCK COUNTY SHERIFF'S OFFICE

200 E US HIGHWAY 14
JANESVILLE,WI53545 		  GOV SUPPORT 500

SOUTHWEST WISCONSIN TECHNICAL COLLEGE

1800 BRONSON BLVD
FENNIMORE,WI53809 		  GOV SCHOLARSHIP 1,000

SPECIAL OLYMPICS WISCONSIN INC

6582 RONALD REAGAN AVENUE
MADISON,WI53704 		  PC COMMUNITY SUPPORT - POLAR PLUNGE 5,000

ST BONIFACE EPISCOPAL CHURCH

3906 W MEQUON ROAD
MEQUON,WI53092 		  PC RELIGIOUS SUPPORT - LARRY GILROY MEMORIAL 250

ST JOHN VIANNEY CATHOLIC CHURCH

1250 E RACINE STREET
JANESVILLE,WI53545 		  PC RELIGIOUS SUPPORT (3 OF 5) 10,000

STOUGHTON HOSPITAL FOUNDATION INC

900 RIDGE STREET
STOUGHTON,WI53589 		  PC HEALTHCARE SUPPORT (2 OF 5) 15,000

SUN PRAIRIE BUSINESS & EDUCATION PARTNERSHIP INC

1223 W MAIN STREET PMB 174
SUN PRAIRIE,WI53590 		  PC NANCY EVERSON MEMORIAL SCHOLARSHIP FUND 200

UNION GROVE SCHOOL DISTRICT

1745 MILLDRUM STREET
UNION GROVE,WI53182 		  GOV CTE EQUIPMENT DONATION-WI FAST FORWARD GRANT 20,000

UNITED WAY BLACKHAWK REGION

205 N MAIN STREET STE 101
JANESVILLE,WI53545 		  PC DAY OF CARING 750

UNITED WAY OF DANE COUNTRY

2059 ATWOOD AVENUE
MADISON,WI53704 		  PC COMMUNITY SUPPORT 8,000

UNITY POINT HEALTH-MERITER FOUNDATION

202 S PARK STREET
MADISON,WI53715 		  PC SUPPORT 4,100

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC UWHC EASTPARK (3 OF 6) 40,000

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC ATHLETICS/SOUTH END ZONE (4-5 OF 5) 100,000

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC ADVOCATE FOR CHILDREN 3,900

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC GARDING AGAINST CANCER 5,000

UNIVERSITY OF WISCONSIN FOUNDATION

1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC ANDY NORTH AND FRIENDS 3,600

UNIVERSITY OF WISCONSIN PLATTEVILLE FOUNDATION INC

1 UNIVERSITY PLAZA
PLATTEVILLE,WI53818 		  PC SCHOLARSHIPS 6,000

UNIVERSITY OF WISCONSIN PLATTEVILLE FOUNDATION INC

1 UNIVERSITY PLAZA
PLATTEVILLE,WI53818 		  PC SCHOLARSHIPS 12,000

UNIVERSITY OF WISCONSIN STOUT

712 BROADWAY STREET S
MENOMONIE,WI54751 		  GOV SCHOLARSHIP 1,000

UNIVERSITY OF WISCONSIN WHITEWATER

800 W MAIN STREET
WHITEWATER,WI53190 		  GOV SCHOLARSHIP 1,000

UWM FOUNDATION INC

1440 EAST NORTH AVENUE
MILWAUKEE,WI53202 		  PC SCHOLARSHIP 1,000

WHITEWATER UNIFIED SCHOOL DISTRICT

534 S ELIZABETH STREET
WHITEWATER,WI53190 		  GOV WHITEWATER HIGH SCHOOL - SCHOLARSHIP 500

WI VETERANS MUSEUM FOUNDATION INC

30 W MIFFLIN STREET 200
MADISON,WI53703 		  PC CHECK POINT 4,400

WISCONSIN WOMEN'S HEALTH FOUNDATION

2503 TODD DRIVE
MADISON,WI53713 		  PC HEALTH/WELLNESS SUPPORT 1,900

WMC FOUNDATION - WI BUSINESS WORLD

501 EAST WASHINGTON AVENUE
MADISON,WI53703 		  PC 2025 EDUCATION FOUNDATION SUPPORT 5,000

YMCA OF NORTHERN ROCK COUNTY

221 DODGE STREET
JANESVILLE,WI53548 		  PC COMMUNITY SUPPORT 4,200
Total .................................right arrow 3a 522,782
bApproved for future payment

AGRACE HOSPICECARE FOUNDATION INC
5395 E CHERYL PARKWAY
FITCHBURG,WI53711 		  PC HOSPICECARE (3-5 OF 5) 15,000

BLACKHAWK VOCATIONAL TECHNICAL DISTRICT EDUCATIONAL FOUNDATION INC
6004 S COUNTY ROAD G
JANESVILLE,WI53546 		  PC TRACK PROJECT (2-5 OF 5) 80,000

CHILDREN'S HOSPITAL OF WISCONSIN INC
PO BOX 1997
MILWAUKEE,WI53226 		  PC SUPPORT (2-3 OF 3) 14,000

CHILDREN'S MUSEUM OF ROCK COUNTY
PO BOX 8042
JANESVILLE,WI53547 		  PC CAPITAL CAMPAIGN (3-5 OF 5) 60,000

CRAFTSMAN WITH CHARACTER FOUNDATION INC
20 GEAR DRIVE
EDGERTON,WI53534 		  PC SUPPORT (2-3 OF 3) 10,000

EDGERTON SCHOOL DISTRICT
200 ELM HIGH DRIVE
EDGERTON,WI53534 		  GOV ATHLETIC FIELD REDEVELOPMENT (4 OF 4) 12,500

EDGEWOOD HIGH SCHOOL
2219 MONROE STREET
MADISON,WI53711 		  PC SUPPORT (1-5 OF 5) 50,000

FISCC INC (FRIENDS OF THE WOODMAN'S CENTER)
20 S MAIN STREET
JANESVILLE,WI53545 		  PC WOODMAN'S SPORTS COMPLEX (3 OF 3) 16,700

FORWARD FOUNDATION INC
14 SOUTH JACKSON STREET
JANESVILLE,WI53545 		  PC SUPPORT (3-3 OF 3) 16,667

KANDU INDUSTRIES INC
15 PLUMB STREET
MILTON,WI53563 		  PC COMMUNITY SUPPORT (3 OF 3) 33,333

MILWAUKEE SCHOOL OF ENGINEERING
1025 N BROADWAY
MILWAUKEE,WI53202 		  PC SCHOLARSHIPS (6,000/YEAR) 36,000

MUKWONAGO AREA SCHOOL DISTRICT
385 E VETERANS WAY
MUKWONAGO,WI53149 		  GOV SCOREBOARD (1-5 OF 5) 50,000

SECOND HARVEST FOODBANK
2802 DAIRY DRIVE
MADISON,WI53718 		  PC SUPPORT (1-3 OF 3) 25,000

ST JOHN VIANNEY CATHOLIC CHURCH
1250 E RACINE STREET
JANESVILLE,WI53545 		  PC SUPPORT (4-5 OF 5) 20,000

STOUGHTON HOSPITAL FOUNDATION INC
900 RIDGE STREET
STOUGHTON,WI53589 		  PC SUPPORT (3-5 OF 5) 45,000

UNIVERSITY OF WISCONSIN - PLATTEVILLE FOUNDATION
1 UNIVERSITY PLAZA
PLATTEVILLE,WI53818 		  PC SCHOLARSHIPS (12,000/YEAR) 72,000

UNIVERSITY OF WISCONSIN FOUNDATION
1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC UWHC EASTPARK (4-6 OF 6) 150,000

UNIVERSITY OF WISCONSIN FOUNDATION
1848 UNIVERSITY AVENUE
MADISON,WI53726 		  PC UW ATHLETICS PRACTICE ($88,889/YEAR) 533,334
Total ................................. right arrow 3b 1,239,534
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 166,624  
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 ............ 		    18 189,620  
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) .. 0 356,244 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
356,244
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
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
JPC FOUNDATION
C/O MICHAEL GRIFFIN
Employer identification number

39-1703739
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
JPC FOUNDATION
C/O MICHAEL GRIFFIN 		Employer identification number
39-1703739
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
JP CULLEN & SONS INC
 
330 E DELAVAN DRIVE
 
JANESVILLE, WI535462711

$ 800,000


(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.)
(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
JPC FOUNDATION
C/O MICHAEL GRIFFIN 		Employer identification number

39-1703739
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
JPC FOUNDATION
C/O MICHAEL GRIFFIN 		Employer identification number

39-1703739
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:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BAKER TILLY ADVISORY GROUP, LP - FORM 990PF PREPARATION 3,656 3,656   0

TY 2024 InvestmentsCorpBondsSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Name of Bond End of Year Book Value End of Year Fair Market Value
BCOIX 351,370 326,813
DODIX 334,569 325,895
TBSIX 443,957 428,823
MBFIX 365,992 325,778
APHFX 68,120 71,699
BSBIX 171,431 170,676
BUBIX 70,538 71,058
CLMZX 71,836 71,534
GIOIX 179,166 177,613
VSCSX 142,159 141,948

TY 2024 InvestmentsCorpStockSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Name of Stock End of Year Book Value End of Year Fair Market Value
BAILARD REIT 305,064 346,705
APHKX 567,151 649,779
CCALX 156,279 218,443
QISCX 169,843 218,014
FIQIX 205,143 237,827
FSMDX 557,608 831,418
TRLGX 607,546 948,747
WCMIX 228,178 347,693
TILIX 266,392 300,095
TSNRX 118,618 187,392
VVIAX 840,086 1,320,214
VSOIX 189,210 209,082
VIISX 75,442 103,523

TY 2024 InvestmentsGovtObligationsSch
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
US Government Securities - End of Year Book Value:

141,429
US Government Securities - End of Year Fair Market Value:

141,429
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 InvestmentsOtherSchedule2
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
CLARION LION PROPERTIES FUND LP AT COST 300,092 291,352

TY 2024 OtherAssetsSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
OTHER RECEIVABLE 4,400 500 500


TY 2024 OtherDecreasesSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Description Amount
INVESTMENT BASIS ADJUSTMENTS 18


TY 2024 OtherIncreasesSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Description Amount
RECOVERY OF PRIOR YEAR CHARITABLE DISTRIBUTIONS 3,250


TY 2024 OtherProfessionalFeesSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
RW BAIRD ASSET CUSTODY/MANAGEMENT FEES 25,286 25,286   0


TY 2024 TaxesSchedule
Name:
JPC FOUNDATION
 
C/O MICHAEL GRIFFIN
EIN:
39-1703739
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DEPARTMENT OF TREASURY - EXCISE TAX PAYMENT 2,300 0   0