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
JOHN AND DENISE GRAVES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2929 CHICAGO AVENUE SOUTH 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55407
A Employer identification number

47-1300668
B Telephone number (see instructions)

(612) 389-9820
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$47,635,557J 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) 357,899
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 774,073 1,047,743  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 240,217
b Gross sales price for all assets on line 6a 9,783,220
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
0 288,928  
12 Total. Add lines 1 through 11........ 1,372,189 1,336,671  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 156,406 0   156,406
14 Other employee salaries and wages...... 559,930 0   559,930
15 Pension plans, employee benefits....... 88,707 0   88,707
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
3,734 0   3,234
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
52,649 26,325   27,596
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
199,923 161,043   34,898
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
95,481 1,017   9,945
19 Depreciation (attach schedule) and depletion... 18,062 0  
20 Occupancy.............. 45,525 0   45,525
21 Travel, conferences, and meetings....... 52,121 0   51,883
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
232,818 476,617   234,273
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,505,356 665,002   1,212,397
25 Contributions, gifts, grants paid....... 3,199,779 2,801,285
26 Total expenses and disbursements. Add lines 24 and 25 4,705,135 665,002   4,013,682
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,332,946
b Net investment income (if negative, enter -0-) 671,669
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............. 278,115 168,636 168,636
2 Savings and temporary cash investments......... 2,000,704 620,165 620,165
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow357,899
Less: allowance for doubtful accounts right arrow     357,899 357,899
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) 43,620 Click to see attachment
List of Attached Documents:
// Content
46,602 		46,602
b Investments—corporate stock (attach schedule)....... 27,950,939 Click to see attachment
List of Attached Documents:
// Content
30,210,729 		30,210,729
c Investments—corporate bonds (attach schedule)....... 4,731,720 Click to see attachment
List of Attached Documents:
// Content
4,739,170 		4,739,170
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).......... 9,393,576 Click to see attachment
List of Attached Documents:
// Content
9,080,395 		9,080,395
14 Land, buildings, and equipment: basis right arrow188,531
Less: accumulated depreciation (attach schedule) right arrow152,891 53,702 35,640 35,640
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
2,198,746 		Click to see attachment
List of Attached Documents:
// Content
2,376,321 		Click to see attachment
List of Attached Documents:
// Content
2,376,321
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 46,651,122 47,635,557 47,635,557
Liabilities 17 Accounts payable and accrued expenses.......... 10,778 50,594
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
97,175 		Click to see attachment
List of Attached Documents:
// Content
66,361
23 Total liabilities (add lines 17 through 22)......... 107,953 116,955
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........... 46,543,169 47,518,602
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)..... 46,543,169 47,518,602
30 Total liabilities and net assets/fund balances (see instructions). 46,651,122 47,635,557
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
46,543,169
2
Enter amount from Part I, line 27a .....................
2
-3,332,946
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
4,308,379
4
Add lines 1, 2, and 3 ..........................
4
47,518,602
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
47,518,602
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 PUBLIC TRADED SECURITIES      
b NORTHERN PACIFIC GROWTH FOUNDATION PARTNERS LP P    
c ALPHAKEYS MILLENNIUM FUND II, LLP 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 9,783,220   9,543,003 240,217
b       -251,488
c       67
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       240,217
b       -251,488
c       67
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 -11,204
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 9,336
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 9,336
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 9,336
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 32,493
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 32,493
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 23,157
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow23,157 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.JDGRAVESFOUNDATION.ORG
14
The books are in care ofright arrowWILLIAM G GRAVES Telephone no.right arrow (612) 389-9820

Located atright arrow2929 CHICAGO AVENUE SOUTH 100MINNEAPOLISMN ZIP+4right arrow55407
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
WILLIAM G GRAVES TRUSTEE/PRESIDENT
40.00 		156,406 7,670 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
JOHN E GRAVES TRUSTEE
1.00 		0 0 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
DENISE A GRAVES TRUSTEE
1.00 		0 0 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
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
DESEANDRA SHEPPHEARD VICE PRESIDENT, CHIE
40.00 		133,015 818 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
KYRRA RANKINE VICE PRESIDENT, POLI
40.00 		113,757 8,005 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
CARLA GODWIN PROJECT MANAGER
40.00 		103,652 12,093 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
DANIELLE PRASCH OPERATIONS MANAGER
40.00 		88,000 3,339 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
LISA D MOY PORTFOLIO MANAGER
40.00 		82,509 6,267 0
2929 CHICAGO AVENUE S STE 100
MINNEAPOLIS,MN55407
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
UBS FINANCIAL SERVICES INC INVESTMENT MANAGEMENT 161,043
80 SOUTH 8TH STREET 29TH FLOOR
MINNEAPOLIS,MN55402
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 GREATER MINNESOTA HOUSING FUND 250,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow250,000
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
45,120,633
b
Average of monthly cash balances.......................
1b
307,099
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
45,427,732
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
45,427,732
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
681,416
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
44,746,316
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,237,316
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
2,237,316
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
9,336
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
70,229
c
Add lines 2a and 2b............................
2c
79,565
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,157,751
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,157,751
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
2,157,751
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
4,013,682
b
Program-related investments—total from Part VIII-B..................
1b
250,000
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
4,263,682
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 2,157,751
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......  
b From 2020...... 2,533,676
c From 2021...... 1,043,618
d From 2022...... 1,797,477
e From 2023...... 3,288,232
f Total of lines 3a through e ........ 8,663,003
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 4,263,682
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..... 2,157,751
e Remaining amount distributed out of corpus 2,105,931
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 10,768,934
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) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		10,768,934
10 Analysis of line 9:
a Excess from 2020.... 2,533,676
b Excess from 2021.... 1,043,618
c Excess from 2022.... 1,797,477
d Excess from 2023.... 3,288,232
e Excess from 2024.... 2,105,931
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).)
JOHN E GRAVES
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
LETTER OF INTENT ACCEPTED BY E-MAIL
2929 CHICAGO AVENUE SOUTH SUITE 100
MINNEAPOLIS,MN55407
(612) 389-9820
INFO@JDGRAVESFOUNDATION.ORG
bThe form in which applications should be submitted and information and materials they should include:
UNSOLICITED LETTERS OF INTEREST THAT ARE SUBMITTED FOLLOWING OUR GUIDELINES WILL BE READ AS THE FOUNDATION STAFF IS ABLE. PROPOSALS SELECTED BY FOUNDATION STAFF FOR APPROVAL WILL BE REVIEWED AT SUBSEQUENT BOARD MEETINGS.
cAny submission deadlines:
NONE/OPEN APPLICATION PROCESS
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
JOHN AND DENISE GRAVES FOUNDATION FUNDS FALL INTO THREE CATEGORIES: 1. EDUCATION - K-12 FOCUSED ORGANIZATIONS, SCHOOLS, AND SCHOOL SYSTEMS ON A PATH TO CREATING STRONG, STABLE, WELL-GOVERNED SCHOOLS AND SCHOOL SYSTEMS, AND MAKING POSITIVE CHANGES. 2. YOUTH POWER BUILDING - ORGANIZATIONS THAT PROVIDE SUPPORT, LEADERSHIP DEVELOPMENT, AND HOLISTIC MENTORSHIP TO UNDERSERVED YOUTH AS THEY LEAVE THE K-12 SYSTEM AND BEGIN THEIR JOURNEY TO ADULTHOOD, AND THOSE THAT WORK TOWARDS BETTERING YOUTH-INVOLVED SYSTEMS AND ENTITLEMENTS. 3. COMMUNITY ORGANIZATIONS THAT WORK TO MAINTAIN THE CULTURAL VIBRANCE AND DIVERSITY OF EAST LAKE STREET. JOHN AND DENISE GRAVES FOUNDATION DOES NOT FUND GRANTS TO INDIVIDUALS; FOR SACRAMENTAL OR THEOLOGICAL FUNCTIONS OF RELIGIOUS ORGANIZATIONS; FOR ANNUAL FUNDRAISING EVENTS; TO ENDOWMENTS; FOR PROPAGANDIZING, INFLUENCING LEGISLATION, AND/OR ELECTIONS, PROMOTING VOTER REGISTRATION, FOR POLITICAL CANDIDATES, POLITICAL CAMPAIGNS, OR FOR LITIGATION.
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

ABOVE THE RIM YOUTH SPORTS FOUNDATION

1500 MORGAN AVE NORTH
MINNEAPOLIS,MN55411 		  PC YOUTH DEVELOPMENT 40,000

ACCESS PHILANTHROPY CHARITIES

2100 STEVENS AVENUE
MINNEAPOLIS,MN55404 		  PC EDUCATION 40,000

ACHIEVE TWIN CITIES

404 SOUTH 8TH STREET SUITE 105
MINNEAPOLIS,MN55404 		  PC DISCRETIONARY 83,316

ADVANCING EQUITY COALITION

2929 CHICAGO AVE SOUTH SUITE 100
MINNEAPOLIS,MN55407 		  PC EDUCATION 20,000

AL-MAA'UUN

1729 LYNDALE AVE N
MINNEAPOLIS,MN55411 		  PC EDUCATION 30,000

BEACON INTERFAITH HOUSING COLLABORATIVE

2610 UNIVERSITY AVENUE WEST SUITE
100
SAINT PAUL,MN55114 		  PC HOUSING 35,000

BENILDE-ST MARGARET'S SCHOOL

2501 HIGHWAY 100 SOUTH
ST LOUIS PARK,MN55416 		  NC DISCRETIONARY 34,700

BRIDGE TO BASICS

18353 HEATHCOTE LANE
WAYZATA,MN55391 		  PC DISCRETIONARY 11,250

BRIDGEMAKERS

370 WABASHA STREET NORTH
SAINT PAUL,MN55102 		  PC YOUTH DEVELOPMENT 40,000

CAMINO

1112 EAST LAKE ST 1B
MINNEAPOLIS,MN55408 		  PC DISCRETIONARY 12,000

CATHOLIC CHARITIES TWIN CITIES

1007 EAST 14TH STREET
MINNEAPOLIS,MN55404 		  PC YOUTH DEVELOPMENT 50,000

CENTRO GUADALUPANO

2211 CLINTON AVE
MINNEAPOLIS,MN55404 		  PC DISCRETIONARY 5,000

CHARTERSOURCE

7595 CURRELL BLVD
WOODBURY,MN55125 		  PC EDUCATION 40,000

CIRCLE OF DISCIPLINE

801 SE 9TH STREET
MINNEAPOLIS,MN55407 		  PC YOUTH DEVELOPMENT 40,000

CLOSEKNIT

1007 WEST BROADWAY AVE
MINNEAPOLIS,MN55411 		  PC DISCRETIONARY 3,000

CLOSEKNIT

1007 WEST BROADWAY AVE
MINNEAPOLIS,MN55411 		  PC DISCRETIONARY 40,000

COLECTIVA BILINGUE

1421 SPRUCE AVE
MINNEAPOLIS,MN55403 		  PC EDUCATION 30,000

CONNECTIONS TO INDEPENDENCE

310 E 38TH STREET SUITE 300
MINNEAPOLIS,MN55409 		  PC YOUTH DEVELOPMENT 30,000

ED ALLIES

1621 E HENNEPIN AVENUE SUITE 295
MINNEAPOLIS,MN55414 		  PC EDUCATION 50,000

ED ALLIES

1621 E HENNEPIN AVENUE SUITE 295
MINNEAPOLIS,MN55414 		  PC EDUCATION 20,000

EDUCATION EVOLVING

2429 NICOLLET AVE
MINNEAPOLIS,MN55404 		  PC EDUCATION 50,000

EDUCATORS 4 EXCELLENCE

25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		  PC EDUCATION 50,000

EDUCATORS 4 EXCELLENCE

25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		  PC DISCRETIONARY 5,000

FOSTER ADVOCATES

2550 UNIVERSITY AVE WEST 200N
SAINT PAUL,MN55114 		  NC DISCRETIONARY 516

FOSTER ADVOCATES

2550 UNIVERSITY AVENUE WEST SUITE
200N
SAINT PAUL,MN55114 		  PC YOUTH DEVELOPMENT 50,000

FOSTER ADVOCATES

2550 UNIVERSITY AVENUE WEST SUITE
200N
SAINT PAUL,MN55114 		  PC YOUTH DEVELOPMENT 50,000

FOSTER ADVOCATES

2550 UNIVERSITY AVENUE WEST SUITE
200N
SAINT PAUL,MN55114 		  PC YOUTH DEVELOPMENT 25,000

FRIENDS OF THE CHILDREN

323 N WASHINGTON AVE 200
MINNEAPOLIS,MN55401 		  PC DISCRETIONARY 1,000

FRIENDS OF THE GLOBAL MARKET

920 EAST LAKE ST G10
MINNEAPOLIS,MN55407 		  PC DISCRETIONARY 10,000

FRIENDS OF THE HENNEPIN COUNTY LIBRARY

300 NICOLLET MALL
MINNEAPOLIS,MN55401 		  PC YOUTH DEVELOPMENT 40,000

FRIENDSHIP ACADEMY OF THE ARTS

2600 EAST 38TH STREET
MINNEAPOLIS,MN55406 		  PC EDUCATION 50,000

GREAT MN SCHOOLS

729 NORTH WASHINGTON AVENUE SUITE
600
MINNEAPOLIS,MN55401 		  PC EDUCATION 75,000

GREAT MN SCHOOLS

729 NORTH WASHINGTON AVENUE SUITE
600
MINNEAPOLIS,MN55401 		  PC EDUCATION 20,000

HEAL PALESTINE

PO BOX 453
KENT,OH44240 		  PC DISCRETIONARY 2,000

HENNEPIN HEALTHCARE FOUNDATION

701 PARK AVENUE S8
MINNEAPOLIS,MN55118 		  PC YOUTH DEVELOPMENT 35,000

HERITAGE YOUTH SPORTS FOUNDATION

5233 FREMONT AVE NORTH
MINNEAPOLIS,MN55430 		  PC YOUTH DEVELOPMENT 35,000

HIAWATHA ACADEMIES

2306 LOWRY AVENUE NORTH UNIT 11291
MINNEAPOLIS,MN55411 		  PC DISCRETIONARY 5,000

HIAWATHA ACADEMIES

3500 EAST 28TH STREET
MINNEAPOLIS,MN55406 		  PC DISCRETIONARY 4,000

HOPE ACADEMY

710 EAST 24TH STREET
MINNEAPOLIS,MN55404 		  PC EDUCATION 45,000

IMPROVE YOUR TOMORROW

1901 ROYAL OAKS DRIVE
SACRAMENTO,CA95815 		  PC EDUCATION 50,000

LAKE STREET COUNCIL

2925 CHICAGO AVE SOUTH SUITE 190
MINNEAPOLIS,MN55407 		  PC COMMUNITY DEVELOPMENT 2,500

LATINO YOUTH DEVELOPMENT COLLABORATIVE

5247 GIRARD AVENUE SOUTH
MINNEAPOLIS,MN55419 		  PC EDUCATION 20,000

LEGAL RIGHTS CENTER

1611 PARK AVE
MINNEAPOLIS,MN55404 		  PC EDUCATION 40,000

MIGIZI

1845 EAST LAKE STREET
MINNEAPOLIS,MN55407 		  PC YOUTH DEVELOPMENT 40,000

MINNESOTA ALLIANCE WITH YOUTH

2550 UNIVERSITY AVE WEST 200N
SAINT PAUL,MN55114 		  PC EDUCATION 40,000

MINNESOTA ASSOCIATION OF CHARTER SCHOOL AUTHORIZERS (MACSA)

1730 NEW BRIGHTON BOULEVARD STE 104
PMB 149
MINNEAPOLIS,MN55418 		  PC EDUCATION 15,000

MINZA

2446 UNIVERSITY AVENUE W SUITE 115
SAINT PAUL,MN55114 		  PC DISCRETIONARY 1,000

NATIONAL PARENTS UNION INC

7 MARION AVE
WOBURN,AL01801 		  PC EDUCATION 30,000

NORMANDALE COMMUNITY COLLEGE FOUNDATION

9700 FRANCE AVE SOUTH
BLOOMINGTON,MN55431 		  PC EDUCATION 50,000

OPEN EYE THEATRE

506 EAST 24TH STREET
MINNEAPOLIS,MN55404 		  PC DISCRETIONARY 4,353

PARTNERSHIPS FOR PERMANENCE

445 MINNESOTA ST SUITE 1500
SAINT PAUL,MN55101 		  PC DISCRETIONARY 2,500

PEOPLE SERVING PEOPLE

614 3RD STREET SOUTH
MINNEAPOLIS,MN55415 		  PC DISCRETIONARY 5,000

PEOPLE SERVING PEOPLE

614 3RD STREET SOUTH
MINNEAPOLIS,MN55415 		  PC DISCRETIONARY 45,000

PERIS FOUNDATION

2929 CHICAGO AVE SOUTH SUITE 100
MINNEAPOLIS,MN55407 		  PC DISCRETIONARY 1,000

PERIS FOUNDATION

2929 CHICAGO AVE SOUTH SUITE 100
MINNEAPOLIS,MN55407 		  PC DISCRETIONARY 1,500

PERIS FOUNDATION

2929 CHICAGO AVE SOUTH SUITE 100
MINNEAPOLIS,MN55407 		  PC HOUSING 65,000

PILLSBURY UNITED COMMUNITIES

3650 FREMONT AVE N
MINNEAPOLIS,MN55412 		  PC EDUCATION 40,000

PILLSBURY UNITED COMMUNITIES

3650 FREMONT AVE N
MINNEAPOLIS,MN55412 		  PC EDUCATION 30,000

PILLSBURY UNITED COMMUNITIES

3650 FREMONT AVE N
MINNEAPOLIS,MN55412 		  PC EDUCATION 40,000

POSITIVE IMAGE

1007 WEST BROADWAY AVE
BROOKLYN PARK,MN55445 		  PC YOUTH DEVELOPMENT 30,000

PRESBYTERY OF MILWAUKEE

PO BOX 1857
WAUKESHA,WI53187 		  PC DISCRETIONARY 1,000

PRINCETON EINSTEIN MUSEUM OF SCIENCE

C/O 26 SYCAMORE PLACE
PRINCETON,NJ08540 		  PC DISCRETIONARY 1,000

PROJECT FOR PRIDE AND LIVING

1035 E FRANKLIN AVE
MINNEAPOLIS,MN55404 		  PC YOUTH DEVELOPMENT 50,000

PROPEL NONPROFITS

1 SE MAIN STREET SUITE 600
MINNEAPOLIS,MN55414 		  NC DISCRETIONARY 5,000

REBOUND INC

6120 EARLE BROWN DR SUITE 230
BROOKLYN CENTER,MN55430 		  PC DISCRETIONARY 5,000

RELENTLESS ACADEMY

5625 XERXES AVE NORTH SUITE C-1114
BROOKLYN CENTER,MN55430 		  NC DISCRETIONARY 3,000

SPELMAN COLLEGE

350 SPELMAN LANE SW BOX 343
ATLANTA,GA30314 		  PC DISCRETIONARY 2,650

TEACH FOR AMERICA CHICAGO

PO BOX 411361 UPPER MIDWEST LOCKBOX
BOSTON,MA02241 		  PC EDUCATION 25,000

THE BEAUTYWELL PROJECT

1821 UNIVERSITY AVENUE WEST SUITE
464-28
SAINT PAUL,MN55104 		  PC YOUTH DEVELOPMENT 25,000

THE JOHNATHON BANKS FOUNDATION

2290 ANCHOR DR 326
NORTH SAINT PAUL,MN55109 		  PC DISCRETIONARY 5,000

THE REAL MINNEAPOLIS

4541 OAKLAND AVE
MINNEAPOLIS,MN55407 		  PC DISCRETIONARY 5,000

THREAD OUR PEOPLE INC

5937 EMERSON AVE N
BROOKLYN CENTER,MN55430 		  PC DISCRETIONARY 3,000

UNCOMMON CONSTRUCTION

6601 FRANKLIN AVE
NEW ORLEANS,LA70119 		  PC YOUTH DEVELOPMENT 40,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 SOUTHEAST OAK STREET SUITE 500
MINNEAPOLIS,MN55455 		  PC YOUTH DEVELOPMENT 35,000

VENN FOUNDATION

1127 BARCLAY STREET
SAINT PAUL,MN55106 		  PC DISCRETIONARY 150,000

WHY YOU INITIATIVE

60 SOUTH 6TH STREET SUITE 2800
MINNEAPOLIS,MN55402 		  PC YOUTH DEVELOPMENT 40,000

WILDFLYER COFFEE

3262 MINNEHAHA AVE
MINNEAPOLIS,MN55406 		  PC YOUTH DEVELOPMENT 40,000

WIN BACK

7194 159TH STREET WEST
APPLE VALLEY,MN55124 		  PC DISCRETIONARY 1,000

WORLD CENTRAL KITCHEN DONATION

PO BOX 96538
WASHINGTON,DC20090 		  PC DISCRETIONARY 5,000

YMCA OF THE NORTH

615 NICOLLET MALL
MINNEAPOLIS,MN55402 		  PC HOUSING 190,000

YOUTHPRISE

3001 BROADWAY STREET NE SUITE 330
MINNEAPOLIS,MN55413 		  PC YOUTH DEVELOPMENT 250,000

YOUTHPRISE

3001 BROADWAY STREET NE SUITE 330
MINNEAPOLIS,MN55413 		  PC YOUTH DEVELOPMENT 60,000

YOUTHPRISE

3001 BROADWAY STREET NE SUITE 330
MINNEAPOLIS,MN55413 		  PC HOUSING 30,000

YOUTHPRISE

3001 BROADWAY STREET NE SUITE 330
MINNEAPOLIS,MN55413 		  PC YOUTH DEVELOPMENT 30,000

YOUTHPRISE

3001 BROADWAY STREET NE SUITE 330
MINNEAPOLIS,MN55413 		  PC YOUTH DEVELOPMENT 40,000
Total .................................right arrow 3a 2,801,285
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 774,073  
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 ............ 		    18 240,217  
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 1,014,290 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,014,290
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 52,649 26,325   27,596

TY 2024 InvestmentsCorpBondsSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Name of Bond End of Year Book Value End of Year Fair Market Value
AMERICAN TOWER CORP B/E 78,154 78,154
AMERICAN TOWER CORP B/E 32,427 32,427
UNITED RENTALS NORTH AM 0BP 40,960 40,960
UNITED RENTALS NORTH AM 87,591 87,591
FORTUNE BRANDS HOME & SE 17,928 17,928
FISERV INC NTS B/E 100,777 100,777
OLIN CORP B/E 92,365 92,365
TRIMBLE NAV LTD B/E 35BP 18,695 18,695
TRIMBLE NAV LTD B/E 45,954 45,954
TRANSDIGN INC NTS B/E 133,638 133,638
CROWN CASTLE INTL CORP 50,968 50,968
IQVIA INC NTS B/E 96,156 96,156
CROWN CASTLE INC NTS B/E 30,572 30,572
VERIZON COMMUNICATIONS 120,642 120,642
ORACLE CORP B/E 5BP 113,462 113,462
ZIMMER BIOMET HOLDINGS 112,226 112,226
ACCRUED INTEREST 61,190 61,190
YUM! BRANDS INC B/E 50,360 50,360
HCA INC NTS B/E 116,346 116,346
HP INC B/E 112,411 112,411
ALTRIA GROUP INC NTS B/E 112,674 112,674
WILLIS GROUP N AMER B/E 108,974 108,974
CONAGRA FOODS INC B/E 28,825 28,825
GENUINE PARTS CO B/E 13,154 13,154
CROWN CASTLE INC B/E 17,547 17,547
WABTEC B/E 83,185 83,185
ALLEGION US HLDG CO INC 122,456 122,456
GLOBAL PAYMENTS INC B/E 105,949 105,949
EXPEDIA GROUP INC NTS B/E 114,510 114,510
QORVO INC NTS B/E 125,669 125,669
BLOCK FINANCIAL LLC B/E 39,671 39,671
BLOCK FINANCIAL NTS B/E 65,485 65,485
DOLLAR TREE INC NTS B/E 109,592 109,592
QUANTA SERVICES INC NTS 43,025 43,025
DISCOVERY COMM INC NTS 115,522 115,522
SERVICE CORP INTL NTS 33,862 33,862
SERVICE CORP INTL B/E 21,405 21,405
BROADCOM INC NTS B/E 116,697 116,697
SBA COMMUNICATIONS CORP 128,463 128,463
DICK'S SPORTING GOODS 129,743 129,743
CARLISLE COS INC B/E 37,546 37,546
CARLISLE COS INC B/E 68,134 68,134
MICROCHIP TECHNOLOGY INC NTS B/E 93,609 93,609
CDW LLC/CDW FIN CORP 112,407 112,407
EAGLE MATERIALS INC B/E 96,983 96,983
BERRY GLOB INC NTS B/E 97,468 97,468
STEEL DYNAMICS INC NTS 94,766 94,766
L BRANDS INC NTS B/E 121,601 121,601
MOLSON COORS BREWING CO 116,885 116,885
ENCOMPASS HEALTH ORG 96,492 96,492
SVC CORP INTL NTS B/E 73,718 73,718
MOTOROLA SOLUTIONS INC 121,867 121,867
B A T CPTL CORP NTS B/E 110,988 110,988
LKQ CORP NTS B/E 92,855 92,855
PHILIP MORRIS INTL INC 59,128 59,128
AT&T INC NTS B/E 123,626 123,626
TENET HEALTHCARE CORP 71,867 71,867

TY 2024 InvestmentsCorpStockSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Name of Stock End of Year Book Value End of Year Fair Market Value
ABB LTD SPON ADR 42,807 42,807
MCKESSON CORP 190,920 190,920
MERCK & CO INC 283,319 283,319
MICROCHIP TECHNOLOGY INC 140,450 140,450
MICROSOFT CORP 524,346 524,346
MONOLITHIC POWER SYSTEMS INC 110,648 110,648
MOODYS CORP 212,070 212,070
MSCI INC 316,205 316,205
MTU AERO ENGINES HLDGS AG ADR 16,734 16,734
MUNICH RE GROUP ADR 18,106 18,106
NATIONAL GRID PLC SPON ADR 13,191 13,191
NATWEST GROUP PLC 22,272 22,272
NESTLE S A SPONSORED ADR REPSTG REG SHS SWITZ ADR 26,471 26,471
NETEASE INC SPON ADR 6,245 6,245
ORACLE CORPORTION 712,719 712,719
OLLIE'S BARGAIN OUTLET HOLDI 45,428 45,428
OLD DOMINION FREIGHT LINES INC 178,517 178,517
NVIDIA CORP 414,688 414,688
NOVO NORDISK ADR DENMARK ADR 48,257 48,257
MCDONALDS CORP 351,926 351,926
NORDSON CORP 56,704 56,704
NITORI HLDGS CO LTD ADR 7,992 7,992
NOMURA RESEARCH INSTITUTE LTD ADR 19,567 19,567
MASTERCARD INC CL A 206,415 206,415
MARVELL TECHNOLOGY INC 227,196 227,196
HONG KONG EXCHANGES & CLEARING LTD ADR 14,374 14,374
HOYA CORP SPON ADR 9,052 9,052
IBERDROLA SA SPON ADR 13,013 13,013
IMPERIAL BRANDS PLC SPON ADR 16,346 16,346
INDUSTRIA DE DISENO TEXTIL IND ADR 29,439 29,439
INTERACTIVE BROKERS GROUP INC CL A 91,868 91,868
INTUIT 392,813 392,813
INTUITIVE SURGICAL INC 80,904 80,904
ISHARES RUSSELL 2000 ETF 1,777,402 1,777,402
ITOCHU CORP ADR JAPAN ADR 33,018 33,018
JOHNSON & JOHNSON 245,420 245,420
ZOETIS INC 168,144 168,144
KEYENCE CORP ORD JPY 22,289 22,289
KKR & CO INC 232,071 232,071
KLA CORP 95,148 95,148
LENNOX INTL INC 103,581 103,581
LILLY ELI & CO 1,387,284 1,387,284
LONDON STK EXCHANGE UNSPONSORED ADR 47,218 47,218
LOREAL CO ADR FRANCE ADR 25,207 25,207
LOWES COMPANIES INC 175,475 175,475
LPL FINL HLDGS INC COM 87,505 87,505
LVMH MOET HENNESSY LOUIS ADR 27,314 27,314
MARSH & MCLENNAN COS INC 181,186 181,186
MARUBENI CORP ADR JAPAN ADR 12,477 12,477
POOL CORP 69,893 69,893
PROCTOR & GAMBLE CO 368,998 368,998
PROGRESSIVE CORP OHIO 178,270 178,270
TFI INTL INC CAD 17,021 17,021
THE COOPER COMPANIES INC 73,360 73,360
THE TRADE DESK INC 33,261 33,261
THERMO FISHER SCIENTIFIC INC 254,913 254,913
THOR INDUSTRIES INC 55,416 55,416
TOKYO ELECTRON LTD ADR 15,173 15,173
TOTALENERGIES SE SPON ADR 39,894 39,894
UBER TECHNOLOGIES INC 120,942 120,942
UNICHARM CORP SPON ADR 4,598 4,598
UNICREDIT SPA 25,035 25,035
UNITED PARCEL SVC INC CL B 257,118 257,118
UNITEDHEALTH GROUP INC 180,592 180,592
UNIVERSAL DISPLAY CORP 42,398 42,398
TERUMO CORP ADR 8,600 8,600
VERISK ANALYTICS INC 99,430 99,430
VIRTUS KAR INTERNATIONAL SMALL-CAP FUND CLASS I 1,513,867 1,513,867
VISA INC CL A 402,319 402,319
WALMART INC COMMON STOCK 633,715 633,715
WASTE MANAGEMENT INC DEL 455,844 455,844
WATSCO INC 70,610 70,610
WEST PHARMACEUTICAL SERVICES INC 127,748 127,748
WORKDAY INC 113,017 113,017
XCEL ENERGY INC COMMON STOCK 280,681 280,681
ZEBRA TECHNOLOGIES CORP CL A 73,768 73,768
VERALTO CORP 96,146 96,146
HITACHI LTD ADR NEW JAPAN 27,846 27,846
TERADYNE INC 49,361 49,361
TELEDYNE TECHNOLOGIES INC 51,983 51,983
RECRUIT HLDGS CO LTD UN SPONSORED ADR 25,146 25,146
RELX PLC SPON ADR 31,113 31,113
ROLLINS INC 59,004 59,004
ROLLS ROYCE HOLDINGS PLC 29,153 29,153
ROYAL KPN N.V. 13,496 13,496
SAFRAN SA ADR 53,519 53,519
SAIA INC 51,953 51,953
SAP SE SPON ADR 76,325 76,325
SERVICENOW INC 220,505 220,505
TENCENT HLDGS LTD ADR 18,294 18,294
SHERWIN WILLIAMS CO 190,701 190,701
SHOPIFY INC CL A 12,441 12,441
SIKA AG UNSPONSORED ADR 19,698 19,698
SITEONE LANDSCAPE SUPPLY INC 39,136 39,136
SMC CORP YEN SHS ORD JPY 16,555 16,555
SPDR S&P 500 ETF TRUST 5,423,710 5,423,710
SPOTIFY TECHNOLOGY 6,263 6,263
STRAUMANN HLDG AG ADR 9,512 9,512
STRYKER CORP 421,979 421,979
SUZUKI MOTOR CORP LTD 14,410 14,410
TAIWAN SEMICONDUCTOR MFG CO LTD ADR 47,595 47,595
TARGET CORP 385,533 385,533
TDK CORP ADR JAPAN ADR 21,216 21,216
SHIN ETSU CHEM CO LTD ADR 17,016 17,016
HERMES INTL SCA ADR 20,079 20,079
JPMORGAN CHASE & CO 525,924 525,924
BERKLEY W R CORP 73,209 73,209
BERKSHIRE HATHAWAY INC DEL CL B 507,220 507,220
BHP GROUP LTD SPON ADR 6,104 6,104
BJS WHSL CLUB HLDGS INC 46,998 46,998
BP PLC SPON ADR 13,893 13,893
BRIGHT HORIZONS FAMILY SOLUTIONS INC 17,514 17,514
BRITISH AMER TOBACCO PLC GB SPON ADR 11,768 11,768
BROADCOM INC 224,885 224,885
CADENCE DESIGN SYSTEM 137,310 137,310
CAPGEMINI S E UNSPONSORED ADR 26,747 26,747
BENTLEY SYSTEMS INC CL B 79,063 79,063
CARLSBERG AS SPON ADR 11,766 11,766
CDN NATL RAILWAY CO CAD 21,622 21,622
HENRY JACK & ASSOC INC 58,550 58,550
CHEMED CORP NEW 41,854 41,854
CHIPOTLE MEXICAN GRILL INC CL A 102,872 102,872
CHOICE HOTELS INTL INC NEW 58,922 58,922
CHUGAI PHARMACEUTICAL LTD 11,249 11,249
CINTAS CORP 183,065 183,065
CISCO SYSTEMS INC 247,042 247,042
COCA COLA COMPANY 308,249 308,249
CARRIER GLOBAL CORP 205,667 205,667
BEIGENE LTD SPON ADR 8,127 8,127
BAE SYSTEMS PLC 19,206 19,206
B&M EUROPEAN VALUE RETAIL SA UNSPONSORED ADR 4,429 4,429
ADIDAS AG SPON ADR 14,247 14,247
AGILENT TECHNOLOGIES INC 67,036 67,036
AIA GROUP LTD SPON ADR 23,315 23,315
AIR LIQUIDE ADR FRANCE ADR 16,835 16,835
AIRBNB INC 119,452 119,452
AIRBUS SE UNSPONSORED ADR 25,654 25,654
ALLEGION PLC 50,965 50,965
ALPHABET INC CLASS A COMMON STOCK 198,765 198,765
AMADEUS IT GROUP UNSPONSORED 36,822 36,822
AMAZON.COM INC 400,167 400,167
AMGEN INC 309,901 309,901
ANHEUSER BUSCH INBEV SPON ADR 20,429 20,429
APPLE INC 1,151,932 1,151,932
APPLIED MATERIALS INC 122,460 122,460
ARES MANAGEMENT CORPORATION 126,931 126,931
ASHTEAD GROUP PLC 13,937 13,937
ASML HLDG NV SPON ADR 38,812 38,812
ASPEN TECHNOLOGY INC DEL 64,654 64,654
ASTRAZENECA PLC SPON ADR 37,608 37,608
ZURN ELKAY WATER SOLUTION CORP 65,014 65,014
DNB BK ASA SPON ADR 14,965 14,965
DSV A/S ADR 22,090 22,090
DYNATRACE INC 115,005 115,005
ECOLAB INC 297,352 297,352
ECOLAB INC 76,388 76,388
CORTEVA INC 194,234 194,234
ENGIE SPON ADR 19,916 19,916
EPIROC AKTIEBOLAG ADR 27,082 27,082
EQUIFAX INC 64,732 64,732
ESSILORLUXOTTICA ADR 37,287 37,287
EVOLUTION AB UNSPONSORED ADR 7,685 7,685
EXPONENT INC 13,365 13,365
FAIR ISAAC CORP 33,846 33,846
FERRARI N V EUR 11,896 11,896
FORTIVE CORP 57,525 57,525
FUJITSU LTD ADR NEW JAPAN ADR 13,416 13,416
GALLAGHER ARTHUR J & CO 153,847 153,847
GE AEROSPACE 261,360 261,360
GENMAB A/S SPON ADR 10,978 10,978
GIVAUDAN SA ADR 23,685 23,685
DEUTSCHE BANK AG 15,874 15,874
DBS GROUP HLDGS LTD. SPON ADR 29,833 29,833
CSX CORPORATION 156,800 156,800
DATADOG INC 74,731 74,731
DAIICHI SANKYO CO LTD SPON ADR 25,243 25,243
DANONE SPON ADR 12,853 12,853
DANAHER CORP 140,026 140,026
DAIKIN INDS LTD ADR 12,614 12,614

TY 2024 InvestmentsGovtObligationsSch
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
US Government Securities - End of Year Book Value:

46,602
US Government Securities - End of Year Fair Market Value:

46,602
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:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
CLOVER PCO II ORIGINAL FEEDER FMV 1,314,738 1,314,738
CALAMOS INVT TR NEW MARKET NEUTRAL FD CL I FMV 544,798 544,798
ALPHAKEYS MILLENIUM FD II LLC CLASS B A/O FMV 4,211,465 4,211,465
CLOVER PCO II SECONDARY FEEDER FMV 663,219 663,219
NORTHERN PACIFIC GROWTH FOUNDATION PARTNERS, LP FMV 2,346,175 2,346,175

TY 2024 LegalFeesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 3,734 0   3,234


TY 2024 OtherAssetsSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DUE FROM PERIS FOUNDATION 284 0 0
ROU ASSET 66,703 45,723 45,723
ACCUMULATED INTEREST 52,879 1,719 1,719
PROGRAM RELATED INVESTMENTS - FIXED ASSETS 2,078,880 2,078,879 2,078,879
PROGRAM RELATED INVESTMENTS - GMHF 0 250,000 250,000


TY 2024 OtherExpensesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PROGRAM EXPENSE 153,265 0   158,179
TECHNOLOGY, COMPUTER, & WEBSITE FEES 37,245 0   35,568
OFFICE EXPENSES 42,308 0   40,526
PARTNERSHIP EXPENSES 0 476,617   0


TY 2024 OtherIncomeSchedule2
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PARTNERSHIP INCOME   288,928  


TY 2024 OtherIncreasesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Description Amount
UNREALIZED GAIN(LOSS) ON INVESTMENTS 4,308,379


TY 2024 OtherLiabilitiesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Description Beginning of Year - Book Value End of Year - Book Value
LEASE LIABILITY 97,175 66,361


TY 2024 OtherProfessionalFeesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 161,043 161,043   0
PROFESSIONAL DEVELOPMENT AND CONSULTING 38,880 0   34,898


TY 2024 TaxesSchedule
Name:
JOHN AND DENISE GRAVES FOUNDATION
EIN:
47-1300668
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 85,536 0   0
PROPERTY TAXES 9,945 0   9,945
FOREIGN TAXES 0 1,017   0