TY 2024 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	14,269,354	24,513,538
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		43,354,873
b	Gross sales price for all assets on line 6a 302,993,148
7	Capital gain net income (from Part IV, line 2)...		53,436,758
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).......	List of Attached Documents: // Content	1,280,062	38,074,536
12	Total. Add lines 1 through 11........	58,904,289	116,024,832
	13	Compensation of officers, directors, trustees, etc.	1,096,983	38,760		1,058,223
14	Other employee salaries and wages......	5,598,858	793,796		4,805,062
15	Pension plans, employee benefits.......	1,669,298	145,821		1,523,477
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	54,736	3,911		50,825
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	129,114	23,271		105,843
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	3,117,405	2,203,050		914,355
17	Interest...............	2,754,000	0		2,754,000
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	1,544,233	0		0
19	Depreciation (attach schedule) and depletion...		7,736	7,736
20	Occupancy..............	338,786	0		338,786
21	Travel, conferences, and meetings.......	427,368	26,111		401,259
22	Printing and publications..........	74,485	0		74,485
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	835,957	5,459		830,498
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	17,648,959	3,247,915		12,856,813
25	Contributions, gifts, grants paid.......	71,144,370			53,713,449
26	Total expenses and disbursements. Add lines 24 and 25	88,793,329	3,247,915		66,570,262
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-29,889,040
b	Net investment income (if negative, enter -0-)		112,776,917
c	Adjusted net income (if negative, enter -0-)...

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
	1	Cash—non-interest-bearing.............
2	Savings and temporary cash investments.........	3,853,599	25,454,383	25,454,383
3	Accounts receivable
	Less: allowance for doubtful accounts
4	Pledges receivable
	Less: allowance for doubtful accounts
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)
	Less: allowance for doubtful accounts
8	Inventories for sale or use..............
9	Prepaid expenses and deferred charges..........	164,457	251,444	251,444
10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 94,656,449	94,656,449
b	Investments—corporate stock (attach schedule).......	186,316,637	List of Attached Documents: // Content 354,556,018	354,556,018
c	Investments—corporate bonds (attach schedule).......	0	List of Attached Documents: // Content 111,629,460	111,629,460
11	Investments—land, buildings, and equipment: basis
	Less: accumulated depreciation (attach schedule)
12	Investments—mortgage loans.............
13	Investments—other (attach schedule)..........	1,170,252,187	List of Attached Documents: // Content 795,219,691	795,219,691
14	Land, buildings, and equipment: basis 124,011
	Less: accumulated depreciation (attach schedule) 120,339	11,443	List of Attached Documents: // Content 3,672	3,672
15	Other assets (describe )	List of Attached Documents: // Content 38,909,788	List of Attached Documents: // Content 69,357,636	List of Attached Documents: // Content 69,357,636
16	Total assets (to be completed by all filers—see the
	instructions. Also, see page 1, item I)	1,399,508,111	1,451,128,753	1,451,128,753
	17	Accounts payable and accrued expenses..........	527,912	494,379
18	Grants payable.................	50,730,012	67,560,933
19	Deferred revenue.................
20	Loans from officers, directors, trustees, and other disqualified persons
21	Mortgages and other notes payable (attach schedule)......	100,000,000	100,000,000
22	Other liabilities (describe )	List of Attached Documents: // Content 6,938,237	List of Attached Documents: // Content 7,803,155
23	Total liabilities (add lines 17 through 22).........	158,196,161	175,858,467
		Foundations that follow FASB ASC 958, check here
	and complete lines 24, 25, 29 and 30.
24	Net assets without donor restrictions...........	1,241,311,950	1,275,270,286
25	Net assets with donor restrictions............
	Foundations that do not follow FASB ASC 958, check here
	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).....	1,241,311,950	1,275,270,286
30	Total liabilities and net assets/fund balances (see instructions).	1,399,508,111	1,451,128,753

(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.)
1 a	CAPITAL GAIN ON SECURITIES	P
b	STOCK DISTRIBUTIONS - BUILT IN GAIN	P
c	HARBOURVEST INTERNATIONAL PRIVATE EQUITY III, LP	P
d	OWNERSHIP CAPITAL GLOBAL EQUITY (USD) FUND, LP	P
e	SEQUOIA CAPITAL XII, LP	P
	WALTON STREET REAL ESTATE FUND III, LP	P
	PARTNERSHIP K-1'S GAINS/LOSSES	P

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	53,436,758
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 ...................	3

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	1,567,599
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	1,567,599
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,567,599
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	1,850,000
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	1,850,000
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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.......	9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10	282,401
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax0	Refunded	11	282,401

(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
JENNIFER REEDY	PRESIDENT 40.00	606,060	73,483	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
THARANGI CUMARANATUNGE	FINANCE DIR & TREASURER 40.00	226,923	38,606	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
DEANNA CUMMINGS	CHAIR/DIRECTOR 2.00	24,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
MOROTOLUWA ADEBIYI	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
JODI ARCHAMBAULT	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
PAUL BATCHELLER	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
MARY BRAINERD	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
ARMANDO CAMACHO	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
KEVIN GOODNO	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
MARY GROVE	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
MATHEW KILIAN	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
CYNTHIA LINDQUIST	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
ALAN SOLANO	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
MALINI SRIVASTAVA	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
TRACY ZEPHIER	DIRECTOR 2.00	20,000	0	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101


PETERFESO CAROL	MANAGING DIRECTOR OF 40.00	406,770	42,184	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
ROMANO CHRIS	CHIEF OPERATING OFFI 40.00	337,974	41,341	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
PATEL ANITA	VP OF GRANTMAKING 40.00	313,022	53,856	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
ANDREWS STEPHANIE	DIRECTOR, TALENT, LE 40.00	251,877	72,624	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
VILLAUME BETH	CONTROLLER 40.00	195,624	124,776	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101
Total number of other employees paid over $50,000...................	29


CAMBRIDGE ASSOCIATES LLC	INVESTMENT CONSULTING	980,657
PO BOX 412015 BOSTON,ME022412015
THREESPOT MEDIA LLC	CONSULTING	240,490
1325 G ST NW STE 500 WASHINGTON,DC20005
THE IMPROVE GROUP INC	CONSULTING	174,369
661 LASALLE STREET SUITE 300 SAINT PAUL,MN55114
THE NORTHERN TRUST COMPANY	CUSTODY SERVICES	148,500
50 S LASALLE STREET CHICAGO,IL60675
CLIFTONLARSONALLEN LLP	AUDIT AND TAX SERVICES	130,365
PO BOX 776376 CHICAGO,IL606776376

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	STANDING ROCK SIOUX TRIBE RENEWABLE ENERGY POWER AUTHORITY, INCORPORATED:A FIVE-YEAR PROGRAM-RELATED INVESTMENT TO SUPPORT SAGE DEVELOPMENT AUTHORITY DURING THE PRE-DEVELOPMENT PROCESS FOR THE ANPETU WI WIND FARM OWNED BY THE STANDING ROCK SIOUX TRIBE TO DEVELOP ENERGY SELF-RELIANCE.	5,073,239
2	NORTH COUNTRY COOPERATIVE FOUNDATION	3,000,000
All other program-related investments. See instructions.
3	List of Attached Documents: // Content	2,000,000

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AFRICAN AMERICAN LEADERSHIP FORUM 1625 HENNEPIN AVE STE 200 MINNEAPOLIS,MN55403		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE AFRICAN AMERICAN LEADERSHIP FORUM TO HELP ADVANCE ITS MISSION AND SUPPORT THE WORK OF OTHERS	150,000
AMHERST H WILDER FOUNDATION 451 LEXINGTON PKWY N SAINT PAUL,MN55104		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR AMHERST H. WILDER FOUNDATIONS WORK WITH MINNESOTA COMPASS AND THE COMMUNITY EQUITY PROGRAM, TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
ARIZONA BOARD OF REGENTS ON BEHALF OF THE UNIVERSITY OF ARIZONA 1200 E UNIVERSITY BLVD TUCSON,AZ85721		GOV	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR UNIV OF ARIZONAS NATIVE NATIONS INSTITUTE TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
ARTS SOUTH DAKOTA PO BOX 2496 SIOUX FALLS,SD571012496		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR ARTS SOUTH DAKOTA TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
ASIAN AMERICAN-PACIFIC ISLANDERS IN PHILANTHROPY 1714 FRANKLIN ST STE 100-386 OAKLAND,CA946123488		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR ASIAN AMERICAN-PACIFIC ISLANDERS IN PHILANTHROPY FOR 2024, 2025 AND 2026	10,000
ASSOCIATION OF BLACK FOUNDATION EXECUTIVES INC 55 EXCHANGE PL STE 405 NEW YORK,NY10005		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR THE ASSOCIATION OF BLACK FOUNDATION EXECUTIVES FOR 2024, 2025 AND 2026	10,000
ASSOCIATION OF MINNESOTA PUBLIC EDUCATIONAL RADIO STATIONS 916 HIGHVIEW CIRCLE N MENDOTA HEIGHTS,MN55118		PC	2024 MEDIA SPONSORSHIP TO SUPPORT AMPERS	29,000
BUILD WEALTH MN INC 2121 PLYMOUTH AVE N MINNEAPOLIS,MN55411		PC	SUPPORT FOR WORK RELATED TO A PROGRAM-RELATED INVESTMENT INTENDED TO SCALE AN INNOVATIVE MORTGAGE LENDING PROGRAM TO SUPPORT BLACK HOMEOWNERSHIP IN THE TWIN CITIES	1,375,000
BUREAU OF INDIAN AFFAIRS 1849 C STREET NORTHWEST WASHINGTON,DC20240		GOV	TO SUPPORT WORK TO ESTABLISH AN ORAL HISTORY COLLECTION	3,150,000
BUSH FELLOWSHIP PROGRAM - COHORT 20 428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	NONE	I	BUSH FELLOWSHIP PROGRAM	12,500
BUSH FELLOWSHIP PROGRAM - COHORT 20 428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	NONE	I	BUSH FELLOWSHIP PROGRAM	568,417
BUSH FELLOWSHIP PROGRAM - COHORT 20 428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	NONE	I	BUSH FELLOWSHIP PROGRAM	1,210,371
BUSH FELLOWSHIP PROGRAM - COHORT 20 428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	NONE	I	BUSH FELLOWSHIP PROGRAM	1,215,658
CANDID 32 OLD SLIP 24TH FLOOR NEW YORK,NY10005		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR CANDID FOR 2024, 2025 AND 2026	35,000
CENTER FOR ECONOMIC INCLUSION 370 WABASHA ST N STE 900 SAINT PAUL,MN55102		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE CENTER FOR ECONOMIC INCLUSION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
CENTER FOR RURAL POLICY AND DEVELOPMENT PO BOX 3185 MANKATO,MN560023185		SO I	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE CENTER FOR RURAL POLICY AND DEVELOPMENT TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	147,000
CITIZENS LEAGUE 400 N ROBERT ST STE 1820 SAINT PAUL,MN55101		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE CITIZENS LEAGUE TO HELP ADVANCE ITS MISSION AND SUPPORT THE WORK OF OTHERS	150,000
CITY OF SAINT PAUL 700 CITY HALL 15 WEST KELLOGG BOULEVARD SAINT PAUL,MN55102		GOV	TO FURTHER TEST AND SPREAD THE IMPLEMENTATION OF COLLEGEBOUND SAINT PAUL, A TARGETED, UNIVERSAL COLLEGE SAVINGS ACCOUNTS FOR EVERY CHILD BORN IN THE CITY OF ST. PAUL, MINNESOTA	1,000,000
COALITION OF ASIAN AMERICAN LEADERS 941 LAFOND AVE STE 205 SAINT PAUL,MN55104		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE COALITION OF ASIAN AMERICAN LEADERS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
COMUNIDADES LATINAS UNIDAS EN SERVICIO INC 797 E 7TH ST SAINT PAUL,MN55106		PC	DEVELOP AND TEST A NEW MODEL OF SHARED SPACE AND ACCESSIBLE TRAINING FOR CHILDCARE BUSINESSES TO INCREASE THE NUMBER OF LICENSED LATINA PROVIDERS	1,700,000
COUNCIL ON FOUNDATIONS 1255 23RD ST NW STE 200 WASHINGTON,DC20037		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR COUNCIL ON FOUNDATIONS FOR 2024, 2025 AND 2026	25,000
COUNCIL ON FOUNDATIONS 1255 23RD ST NW STE 200 WASHINGTON,DC20037		PC	TO SPONSOR THE COUNCIL ON FOUNDATIONS 2024 BUILDING TOGETHER: LEADING COLLABORATIVELY ACROSS DIFFERENCES CONFERENCE	25,000
DAKOTA RESOURCES 25795 475TH AVE STE 1 RENNER,SD57055		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR DAKOTA RESOURCES TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
DUCKS UNLIMITED INC ONE WATERFOWL WAY MEMPHIS,TN38120		PC	TO IMPLEMENT AN INNOVATIVE MODEL FOR REGIONAL CONSERVATION OF GRASSLANDS THAT IS DESIGNED TO BENEFIT FARMERS AND RANCHERS ACROSS SOUTH DAKOTA	787,500
DULUTH SUPERIOR AREA EDUCATIONAL TELEVISION CORPORATION 632 NIAGARA COURT DULUTH,MN55811		PC	MEDIA SPONSORSHIP 2024	23,000
EDUCATION EVOLVING 2429 NICOLLET AVENUE MINNEAOPLIS,MN55404		PC	ADDITIONAL SUPPORT FOR THE 2024 STUDENT-CENTERED LEARNING FOR EQUITY (SCL4E) EVENT	30,000
EDUCATION EVOLVING 2429 NICOLLET AVENUE MINNEAOPLIS,MN55404		PC	WE ARE FUNDING EDUCATION EVOLVING TO CONTINUE THEIR WORK IN DESIGNING AND DELIVERING THE ANNUAL EDUCATION CONVENING - STUDENT CENTERED LEARNING FOR EQUITY (SCL4E.) THIS GRANT WILL BE TO IMPLEMENT THE EVENT IN 2023, 2024, AND 2025	275,000
EDUCATION EVOLVING 2429 NICOLLET AVENUE MINNEAOPLIS,MN55404		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR EDUCATION EVOLVING TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
EMERGING PRACTITIONERS IN PHILANTHROPY PO BOX 3514PMB 33597 NEW YORK,NY10008		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR EMERGING PRACTITIONERS IN PHILANTHROPY FOR 2024, 2025 AND 2026	12,500
EMERGING PRAIRIE 118 BROADWAY NORTH STE S1 FARGO ND,ND58102		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR EMERGING PRAIRIE TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
ENHANCING AND STRENGTHENING NORTH DAKOTA NONPROFITS & COMMUNITIES 18 2ND ST SE STE 2 PO BOX 982 MINOT,ND587020982		PC	TO OPERATE TWO GRANT PROGRAMS WITH THE PURPOSE OF INSPIRING AND SUPPORTING CREATIVE PROBLEM-SOLVING ACROSS NORTH DAKOTA AND THE NATIVE NATIONS THAT SHARE THAT GEOGRAPHY.	400,000
EXODUS FINANCIAL SERVICES 2380 WYCLIFF STREET SUITE B 100 ST PAUL,MN55114		PC	TO SPREAD AN INNOVATIVE LENDING MODEL TO PROVIDE AN UPSTREAM ALTERNATIVE TO PREDATORY LOANS WITH PATHWAYS TO FINANCIAL SUCCESS	4,200,000
FAMILY TREE INC 1919 NICOLLET MINNEAPOLIS,MN55403		PC	TO SPREAD A GENDER-AFFIRMING CARE MODEL TO SERVE COMMUNITIES ACROSS THE REGION	375,000
FAMILY TREE INC 1919 NICOLLET MINNEAPOLIS,MN55403		PC	TO TEST A COMMUNITY-LED PUBLIC SAFETY APPROACH THAT OFFERS AN EMERGENCY HOTLINE AND RESPONSE TEAM WHILE IMPROVING COMMUNITY CAPACITY TO ADDRESS CRISIS	320,000
FIRST PEOPLES FUND 706 WEST BOULEVARD RAPID CITY,SD57701		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE FIRST PEOPLES FUND TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
FOUR BANDS COMMUNITY FUND INC 412 S MAIN ST PO BOX 932 EAGLE BUTTE,SD57625		PC	TO DEVELOP A SHARED COOPERATIVE MODEL OF ECONOMIC DEVELOPMENT ON THE CHEYENNE RIVER INDIAN RESERVATION	439,000
FOUR BANDS COMMUNITY FUND INC 412 S MAIN ST PO BOX 932 EAGLE BUTTE,SD57625		PC	FOR BUSH PRIZE: NATIVE NATIONS WINNERS AND FINALISTS	556,000
FOUR BANDS COMMUNITY FUND INC 412 S MAIN ST PO BOX 932 EAGLE BUTTE,SD57625		PC	TO PROVIDE GRANT FUNDING FOR GOOD RELATIVES COLLABORATIVE GRANTEES IN NATIVE NATIONS AND NATIVE COMMUNITIES IN MINNESOTA, NORTH DAKOTA AND SOUTH DAKOTA.	1,200,000
FRIENDS OF SOUTH DAKOTA PUBLIC BROADCASTING 601 N PHILLIPS AVE 100 SIOUX FALLS,SD57104		PC	2024 MEDIA SPONSORSHIP	40,500
GIVEMN 200 SOUTHDALE CENTER 172 EDINA,MN55435		PC	FOR GIVEMN GENERAL OPERATING SUPPORT AND FOR ADDITIONAL PRIZE GRANTS FOR SPRING GIVING DAYS AS WELL AS GIVE TO THE MAX DAY 2024	222,600
GIVEMN 200 SOUTHDALE CENTER 172 EDINA,MN55435		PC	IN RECOGNITION OF BECOMING A FINALIST FOR THE COMMUNITY INNOVATION GRANT PROGRAM, THIS GRANT WILL ADVANCE GIVEMN'S CHARITABLE MISSION	10,000
GLOBAL HEALTH ALLIANCE INC 3800 AMERICAN BOULEVARD WEST SUITE 750 BLOOMINGTON,MN55431		PC	TO DEVELOP AND TEST A CULTURALLY RESPONSIVE MODEL CALLED HOOYO'S PERINATAL NAVIGATION SYSTEM THAT DELIVERS ENHANCED PERINATAL OFFERINGS, REVITALIZES TRADITIONAL SOMALI BIRTHING PRACTICES, AND IMPROVES MATERNAL AND CHILD OUTCOMES	367,500
GRANTMAKERS FOR EDUCATION 400 SE 103RD DR 33348 PORTLAND,OR97216		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR GRANTMAKERS FOR EDUCATION FOR 2024, 2025 AND 2026	11,750
GRANTMAKERS FOR EDUCATION 400 SE 103RD DR 33348 PORTLAND,OR97216		PC	TO SUPPORT THE 2024 GRANTMAKERS FOR EDUCATION CONFERENCE	15,000
GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS 1310 L ST NW STE 650 WASHINGTON,DC20005		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS FOR 2024, 2025 AND 2026	16,000
GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS 1310 L ST NW STE 650 WASHINGTON,DC20005		PC	GEO 2024 NATIONAL CONFERENCE	25,000
GRANTMAKERS IN THE ARTS 522 COURTLANDT AVE 1ST FL BRONX,NY104515008		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR GRANTMAKERS IN THE ARTS FOR 2024, 2025 AND 2026	10,000
GREATER MINNESOTA HOUSING FUND 332 MINNESOTA ST STE 1650 WEST SAINT PAUL,MN55101		SO I	EVALUATION SUPPORT FOR GREATER MINNESOTA HOUSING FUND (GMHF) TO USE FOR EVALUATING AND SPREADING LEARNING THROUGH PRESERVING NATURALLY OCCURRING AFFORDABLE HOUSING	100,000
GREATER TWIN CITIES UNITED WAY 404 S 8TH ST MINNEAPOLIS,MN554041084		PC	TO SUPPORT GENERATION NEXT IN 2024, 2025 AND 2026	75,000
HISPANIC ADVOCACY AND COMMUNITY EMPOWERMENT THROUGH RESEARCH 155 WABASHA ST S STE 105 SAINT PAUL,MN55107		PC	BUILDING A NETWORK OF LATINE ORGANIZATIONS	472,500
HISPANICS IN PHILANTHROPY 548 MARKET STREET SAN FRANCISCO,CA941045401		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR HISPANICS IN PHILANTHROPY FOR 2024, 2025 AND 2026	10,000
HOPE COMMUNITY INC 611 E FRANKLIN AVE MINNEAPOLIS,MN55404		PC	ADVANCE HOPE COMMUNITY'S CHARITABLE MISSION TO PROVIDE AFFORDABLE HOUSING	10,000
IFP MINNESOTA 550 VANDALIA ST STE 120 SAINT PAUL,MN55114		PC	FUNDING TO LEVERAGE RESOURCES TO THE REGION BY CONTRIBUTING TO A BID TO HOST THE SUNDANCE FILM FESTIVAL IN MINNEAPOLIS/SAINT PAUL	25,000
IMPACT FOUNDATION 4321 20TH AVENUE SOUTH FARGO,ND58103		PC	2024 GIVING HEARTS DAY PRIZES AND INCENTIVES AS WELL AS OPERATING SUPPORT	111,300
IMPACT FOUNDATION 4321 20TH AVENUE SOUTH FARGO,ND58103		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE IMPACT FOUNDATION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
INDEPENDENT SECTOR 1602 L ST NW STE 900 WASHINGTON,DC20036		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR INDEPENDENT SECTOR FOR 2024, 2025 AND 2026	15,000
INDIAN LAND TENURE FOUNDATION 151 COUNTY RD B2 E LITTLE CANADA,MN55117		PC	SUPPORT FOR TRIBAL SOVEREIGNTY AND NATIVE NATION REBUILDING IN THE REGION	1,000,000
INDIAN LAND TENURE FOUNDATION 151 COUNTY RD B2 E LITTLE CANADA,MN55117		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE INDIAN LAND TENURE FOUNDATION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
INITIATIVE FOUNDATION 405 1ST ST SE LITTLE FALLS,MN56345		PC	SUPPORT THE EXPANSION OF THE INITIATORS FELLOWSHIP	220,000
KNOWLEDGEWORKS FOUNDATION 312 PLUM ST STE 950 CINCINNATI,OH45202		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR KNOWLEDGEWORKS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
LAKE STREET COUNCIL PO BOX 7091 MINNEAPOLIS,MN55407		PC	TO INSPIRE, EQUIP AND CONNECT BIPOC AND IMMIGRANT ENTREPRENEURS TO EQUITABLE CLEAN ENERGY OPPORTUNITIES	950,000
LATINO ECONOMIC DEVELOPMENT CENTER 804 MARGARET ST SAINT PAUL,MN55106		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE LATINO ECONOMIC DEVELOPMENT CENTER, FOR THE WORK OF THE CATALYST INITIATIVE, TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
LATINOLEAD 797 E 7TH ST STE 151 SAINT PAUL,MN55106		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR LATINOLEAD TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	107,000
LEAVITT PARTNERS 601 NEW JERSEY AVENUE NW SUITE 350 WASHINGTON,DC20001		NC	TO DEVELOP A NEW STRATEGIC ALLIANCE TO CHANGE FEDERAL POLICIES TO IMPROVE HEALTH CARE ACCESS AND OUTCOMES IN INDIAN COUNTRY	1,335,000
LOST AND FOUND ASSOCIATION 401 E 8TH ST STE 214-3022 SIOUX FALLS,SD57103		PC	TO DEVELOP A COLLABORATIVE NETWORK OF HEALTHCARE PROVIDERS, NONPROFIT WORKERS, AND COMMUNITY MEMBERS TO IMPROVE HEALTH OUTCOMES FOR LGBTQ2S+ INDIVIDUALS IN SOUTH DAKOTA	283,800
MAKOCE AGRICULTURE DEVELOPMENT PO BOX 163 PORCUPINE,SD57772		PC	TO DEVELOP AND SPREAD A NEW AND COMPREHENSIVE MODEL FOR A SUSTAINABLE TRIBAL FOOD SYSTEM THROUGH INNOVATIVE FOOD SOVEREIGNTY INITIATIVES	500,000
METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS 3137 CHICAGO AVENUE MINNEAPOLIS,MN55407		PC	TO DEVELOP AND TEST A DRIVER-OWNED RIDESHARE COOPERATIVE THAT PROMOTES BETTER WORKING CONDITIONS FOR DRIVERS, AND EXISTS AS AN ALTERNATIVE TO MAINSTREAM RIDESHARE OPTIONS	982,665
MIDWEST INDIGENOUS IMMERSION NETWORK 46754 EARLE BROWN DRIVE GARRISON,MN56450		PC	TO SPREAD OJIBWE LANGUAGE REVITALIZATION BY DEVELOPING A BIGGER, SHARED INFRASTRUCTURE	1,270,050
MINNEAPOLIS FOUNDATION 80 S 8TH ST STE 800 MINNEAPOLIS,MN55402		PC	TO TEST A SPECIAL-PURPOSE CREDIT PROGRAM THAT IS BACKED BY A LOAN GUARANTEE TO INCREASE ACCESS TO CAPITAL FOR BLACK WEALTH BUILDERS AND SHIFT BANK UNDERWRITING AND LENDING STANDARDS	1,350,000
MINNEAPOLIS ST PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP 400 ROBERT ST N STE 1600 SAINT PAUL,MN55101		PC	TO SUPPORT THE ITASCA PROJECT IN 2024, 2025 AND 2026	60,000
MINNESOTA BLACK COLLECTIVE FOUNDATION 2429 NICOLLET AVE MINNEAPOLIS,MN55404		PC	MINNESOTA LEGAL EDUCATION, ADVOCACY, AND DEFENSE FOR RACIAL JUSTICE FUND (LEAD)	150,000
MINNESOTA COUNCIL OF NONPROFITS 2314 UNIVERSITY AVE W STE 20 SAINT PAUL,MN55114		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR EDUCATION MINNESOTA COUNCIL OF NONPROFITS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
MINNESOTA COUNCIL OF NONPROFITS 2314 UNIVERSITY AVE W STE 20 SAINT PAUL,MN55114		PC	MINNESOTA COUNCIL OF NONPROFITS 2024 NONPROFIT FUNDRAISING CONFERENCE	1,000
MINNESOTA COUNCIL OF NONPROFITS 2314 UNIVERSITY AVE W STE 20 SAINT PAUL,MN55114		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR MINNESOTA COUNCIL OF NONPROFITS FOR 2024, 2025 AND 2026	10,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE MINNESOTA COUNCIL ON FOUNDATIONS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR MINNESOTA COUNCIL ON FOUNDATIONS FOR 2024, 2025 AND 2026	40,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	2024 MCF AND MCN JOINT ANNUAL CONFERENCE	20,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	PHILANTHROPY U: BUILDING CORE COMPETENCIES THAT ARE CRITICAL FOR PEOPLE WORKING IN VARIED ROLES AND EXPERIENCE LEVELS IN THE PHILANTHROPIC SECTOR.	150,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	PRESS FORWARD MINNESOTA	150,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	NONPARTISAN PUBLIC SERVICE ANNOUNCEMENTS (PSAS) IN MINNESOTA RELATED TO GET OUT THE VOTE EFFORTS LEADING UP TO THE 2024 ELECTION	150,000
MINNESOTA EDUCATION EQUITY PARTNERSHIP 2233 UNIVERSITY AVE W STE 220 SAINT PAUL,MN55114		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE MINNESOTA EDUCATION EQUITY PARTNERSHIP TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
MINNESOTA PUBLIC RADIO 480 CEDAR STREET ST PAUL,MN55101		PC	2024 MEDIA SPONSORSHIP TO SUPPORT MINNESOTA PUBLIC RADIO	49,500
MINNPOST 635 SE 9TH ST MINNEAPOLIS,MN55414		PC	2024 MEDIA SPONSORSHIP TO SUPPORT MINNPOST	20,000
MISSION INVESTORS EXCHANGE 105 WEST 86TH STREET 358 NEW YORK CITY,NY10024		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR MISSION INVESTORS EXCHANGE FOR 2024, 2025 AND 2026	8,250
MN ZEJ ZOG 7970 BROOKLYN BLVD STE 104 BROOKLYN PARK,MN55445		PC	MN ZEJ ZOG WILL SPREAD THE IMPLEMENTATION OF STUDENT-CENTERED LEARNING PRACTICES IN MINNESOTA	175,000
NATIONAL COMMITTEE FOR RESPONSIVE PHILANTHROPY 1900 L ST NW STE 825 WASHINGTON,DC20036		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR NATIONAL COMMITTEE FOR RESPONSIVE PHILANTHROPY FOR 2024, 2025 AND 2026	25,000
NATIVE AMERICAN COMMUNITY CLINIC 1213 E FRANKLIN AVE MINNEAPOLIS,MN55404		PC	TO TEST A CONCEPT CALLED THE COMMUNITY HUB, A GROUNDBREAKING HARM REDUCTION APPROACH AND OVERDOSE PREVENTION SITE SUPPORTING UNSHELTERED COMMUNITIES AND PEOPLE WHO USE DRUGS IN MINNEAPOLIS	750,000
NATIVE AMERICAN COMMUNITY CLINIC 1213 E FRANKLIN AVE MINNEAPOLIS,MN55404		PC	SUPPORT NACC'S MISSION TO IMPROVE NATIVE AMERICAN HEALTH	10,000
NATIVE AMERICANS IN PHILANTHROPY 1140 3RD ST NE 2ND FL WASHINGTON,DC20002		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR NATIVE AMERICANS IN PHILANTHROPY FOR 2024, 2025 AND 2026	15,000
NATIVE AMERICANS IN PHILANTHROPY 1140 3RD ST NE 2ND FL WASHINGTON,DC20002		PC	NATIVE AMERICANS IN PHILANTHROPY 2024 ANNUAL CONFERENCE	25,000
NATIVE GOVERNANCE CENTER 1730 NEW BRIGHTON BLVD STE 104-236 MINNEAPOLIS,MN55413		PC	TO IMPROVE THE FINANCIAL MANAGEMENT AND CAPACITY OF NATIVE NATIONS BY SPREADING A TESTED MODEL THAT PROMOTES SUSTAINABLE FINANCIAL PRACTICES AND BUILDS NATIVE SELF-DETERMINATION	1,115,835
NATIVE WAYS FEDERATION C/O BUSH FOUNDATION 428 MINNESOTA ST STE 400 SAINT PAUL,MN55101		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE NATIVE WAYS FEDERATION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	93,000
NEXUS COMMUNITY PARTNERS 2314 UNIVERSITY AVE W STE 18 SAINT PAUL,MN55114		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR NEXUS COMMUNITY PARTNERS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
NONVIOLENT PEACEFORCE 2610 UNIVERSITY AVE W UNIT 550 SAINT PAUL,MN55114		PC	TO DEVELOP AND TEST A COMPREHENSIVE RURAL COMMUNITY SAFETY MODEL BASED ON NONVIOLENT PEACEFORCE'S LOCALLY INFORMED PEACEKEEPING AND PEACEMAKING PRACTICES	265,000
NORTH AMERICAN COUNCIL FOR ONLINE LEARNING 1100 N GLEBE RD STE 1010 ARLINGTON,VA22201		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE AURORA INSTITUTE TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
NORTH AMERICAN COUNCIL FOR ONLINE LEARNING 1100 N GLEBE RD STE 1010 ARLINGTON,VA22201		PC	SPONSOR THE 2024 AURORA INSTITUTE SYMPOSIUM	10,000
NORTH DAKOTA ASSOCIATION OF NONPROFIT ORGANIZATIONS INC 1605 E CAPITOL AVE PO BOX 1091 BISMARCK,ND58502		PC	NORTH DAKOTA ASSOCIATION OF NONPROFIT ORGANIZATIONS 2024 NONPROFIT LEADERSHIP CONFERENCE	5,000
NORTH DAKOTA COMMUNITY FOUNDATION PO BOX 387 BISMARK,ND58502		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE NORTH DAKOTA COMMUNITY FOUNDATION TO SUPPORT SMALL BUSINESS AND COMMUNITY DEVELOPMENT IN RURAL COMMUNITIES AND HELP ADVANCE ITS CHARITABLE MISSION	150,000
NORTH DAKOTA HUMAN RIGHTS COALITION PO BOX 1961 FARGO,ND581071961		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE NORTH DAKOTA HUMAN RIGHTS COALITION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	42,000
NORTH DAKOTA STATE UNIVERSITY PO BOX 6050 FARGO,ND581086050		GOV	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR NDSUS NORTH DAKOTA COMPASS PROJECT, TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
NORTH DAKOTA STATE UNIVERSITY PO BOX 6050 FARGO,ND581086050		GOV	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR NDSU EXTENSIONS WORK WITH LEAD LOCAL, RURAL LEADERSHIP ND AND THE SOIL AND WATER CONSERVATION LEADERSHIP ACADEMY, TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
NORTHCOUNTRY COOPERATIVE FOUNDATION 2610 UNIVERSITY AVE W SUITE 150 ST PAUL,MN55114		PC	NORTHCOUNTRY COOPERATIVE FOUNDATION WILL SCALE AN INNOVATIVE FINANCING MODEL TO SUPPORT COOPERATIVE RESIDENT OWNERSHIP OF AFFORDABLE MANUFACTURED HOUSING COMMUNITIES	1,410,000
NORTHSIDE ECONOMIC OPPORTUNITY NETWORK 1007 W BROADWAY AVE N MINNEAPOLIS,MN55411		PC	TO DEVELOP AND TEST AN INNOVATIVE BLACK FOOD BUSINESS INCUBATOR THAT SUPPORTS ENTREPRENEURS AND PROMOTES A REGENERATIVE ECONOMY IN NORTH MINNEAPOLIS	500,000
NORTHWEST NORTH DAKOTA COMMUNITY FOUNDATION INC PO BOX 371 WILLISTON,ND588020371		PC	TO ESTABLISH THE CREATIVE COMMUNITY SOLUTIONS GRANTMAKING FUND AT NORTHWEST NORTH DAKOTA COMMUNITY FOUNDATION TO SUPPORT AND RECOGNIZE CREATIVE COMMUNITY SOLUTIONS AND INNOVATIONS WITHIN THE STATE OF NORTH DAKOTA	1,200,000
NORTHWEST NORTH DAKOTA COMMUNITY FOUNDATION INC PO BOX 371 WILLISTON,ND588020371		PC	FOR BUSH PRIZE: NORTH DAKOTA WINNERS AND FINALISTS	556,000
OWAMNIYOMNI OKHODAYAPI 400 S FOURTH STREETSUITE 401 BOX 211 MINNEAPOLIS,MN55415		PC	TO DEVELOP A NEW MODEL OF LAND RECLAMATION WITH MULTI-TRIBAL NATION CONTROL	2,625,000
PEAK GRANTMAKING INC 1701 PENNSYLVANIA AVE NW STE 200 WASHINGTON,DC20006		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR PEAK GRANTMAKING FOR 2024, 2025 AND 2026	7,000
PEAK GRANTMAKING INC 1701 PENNSYLVANIA AVE NW STE 200 WASHINGTON,DC20006		PC	TO SUPPORT THE 2024 PEAK GRANTMAKING CONVENING	15,000
PHILANTHROFUND FOUNDATION PO BOX 3640 MINNEAPOLIS,MN55403		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE PFUND FOUNDATION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS IN MN, ND, SD AND THE 23 NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY	150,000
PILLSBURY UNITED COMMUNITIES 3650 FREMONT AVE N MINNEAPOLIS,MN55412		PC	2024 MEDIA SPONSORSHIP TO SUPPORT MINNEAPOLIS DOCUMENTERS	17,500
POLLEN MIDWEST PO BOX 18027 MINNEAPOLIS,MN554184714		PC	2024 MEDIA SPONSORSHIP TO SUPPORT POLLEN	17,500
PRAIRIE PUBLIC BROADCASTING INC 207 5TH ST NORTH FARGO,ND58102		PC	2024 MEDIA SPONSORSHIP TO SUPPORT PRAIRIE PUBLIC BROADCASTING	35,500
PROPEL NONPROFITS 1 MAIN ST SE STE 600 MINNEAPOLIS,MN55414		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR PROPEL NONPROFITS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
PROPEL NONPROFITS 1 MAIN ST SE STE 600 MINNEAPOLIS,MN55414		PC	ADVANCE PROPEL NONPROFITS' CHARITABLE MISSION TO INCREASE THE FINANCIAL CAPACITY OF NONPROFITS	10,000
REGENTS OF THE UNIVERSITY OF MINNESOTA 100 CHURCH ST SE MINNEAPOLIS,MN55455		GOV	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE UNIVERSITY OF MINNESOTAS MINNESOTA DESIGN CENTER, TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
RENEWABLE ENERGY PARTNERS 1200 PLYMOUTH AVENUE NORTH MINNEAPOLIS,MN55411		NC	TO TEST A CLEAN ENERGY WORKFORCE MODEL THAT DELIVERS EQUITABLE CLEAN ENERGY BENEFITS TO BLACK, INDIGENOUS, AND PEOPLE OF COLOR	750,000
REVIVING THE ISLAMIC SISTERHOOD FOR EMPOWERMENT 1007 W BROADWAY AVE N MINNEAPOLIS,MN55411		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR REVIVING THE ISLAMIC SISTERHOOD FOR EMPOWERMENT (RISE) TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	120,000
RUNNING STRONG FOR AMERICAN INDIAN YOUTH 8301 RICHMOND HWY STE 200 ALEXANDRIA,VA22309		PC	MNI WIZIPAN WAKAN (WATER BUNDLES) PROJECT TO MANAGE AND PROTECT WATER RIGHTS	254,000
RURAL DEVELOPMENT FINANCE CORPORATION 3201 NYGREN DRIVE NW PO BOX 727 MANDAN,ND58554		PC	UNDERSTANDING NEWS DESERTS IN NORTH DAKOTA AND IMPLEMENTING IDEAS TO RETAIN LOCAL NEWS SOURCES	150,000
RURAL ETHNIC INSTITUTE 821 UPPER PINES DR RAPID CITY,SD57701		PC	ENGAGING TRIBAL COLLEGES AND UNIVERSITY STUDENTS IN NON-PARTISAN VOTER REGISTRATION AND GET OUT THE VOTE(GOTV) EFFORTS	20,000
RURAL PHILANTHROPY INSTITUTE 402 SAINT JOSEPH ST STE 3 RAPID CITY,SD57701		PC	TO SUPPORT 2024 SOUTH DAKOTA DAY OF GIVING - PRIZE GRANTS AND PROGRAM SUPPORT	111,300
SACRED PIPE RESOURCE CENTER 400 W MAIN ST PO BOX 1076 MANDAN,ND58554		PC	TO OPERATE TWO GRANT PROGRAMS WITH THE PURPOSE OF INSPIRING AND SUPPORTING CREATIVE PROBLEM-SOLVING WITHIN NATIVE NATIONS AND NATIVE COMMUNITIES ACROSS THE BUSH FOUNDATION REGION	400,000
SACRED PURPOSES INC 2200 N MAPLE AVENUE SUITE 118 RAPID CITY,SD57701		PC	INDIGENOUS COMMUNITY INTEGRATION APPROACH WHICH USES TRADITIONAL PRACTICES AND THE WISDOM OF THOSE MOST IMPACTED BY THE CURRENT JUSTICE SYSTEM	135,000
SAHAN JOURNAL 550 VANDALIA ST SUITE 550 ST PAUL,MN55114		PC	2024 MEDIA SPONSORSHIP TO SUPPORT SAHAN JOURNAL	22,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION BOARD OF DIRECTORS FUND	240,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	FOR BUSH PRIZE: MINNESOTA WINNERS AND FINALISTS	628,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION STAFF FUND. THIS IS A MID-YEAR CONTRIBUTION FOR UNEXPECTED HONORARIUMS THAT COME UP FOR THE REMAINDER OF 2024	15,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION STAFF FUND. THIS IS A SECOND ROUND OF A MID-YEAR CONTRIBUTION FOR UNEXPECTED STAFF APPRECIATION AND HONORARIUMS THAT COME UP	40,500
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION STAFF FUND	14,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO OPERATE TWO GRANT PROGRAMS WITH THE PURPOSE OF INSPIRING AND SUPPORTING CREATIVE PROBLEM-SOLVING ACROSS MINNESOTA AND THE NATIVE NATIONS THAT SHARE THAT GEOGRAPHY.	1,600,000
SAINT PAUL DOWNTOWN ALLIANCE 401 N ROBERT ST STE 150 SAINT PAUL,MN55101		PC	TO REENVISION AND REVITALIZE THE CENTRAL AREA OF DOWNTOWN SAINT PAUL THROUGH THE CREATION OF A MASTER DEVELOPMENT PLAN	150,000
SOCIAL ENTERPRISE MSP 2288 UNIVERSITY AVE W STE 201 SAINT PAUL,MN55114		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR SOCIAL ENTERPRISE MSP TO HELP ADVANCE ITS MISSION AND SUPPORT THE WORK OF OTHERS	15,000
SOUTH DAKOTA COMMUNITY FOUNDATION 2310 PATRON PKWY BOX 296 PIERRE,SD575010296		PC	TO OPERATE TWO GRANT PROGRAMS WITH THE PURPOSE OF INSPIRING AND SUPPORTING CREATIVE PROBLEM-SOLVING ACROSS SOUTH DAKOTA AND THE NATIVE NATIONS THAT SHARE THAT GEOGRAPHY.	1,600,000
SOUTH DAKOTA COMMUNITY FOUNDATION 2310 PATRON PKWY BOX 296 PIERRE,SD575010296		PC	FOR BUSH PRIZE: SOUTH DAKOTA WINNER AND FINALISTS	560,000
SOUTH DAKOTA EDUCATION EQUITY COALITION (SDEEC) PO BOX 557 BLACK HAWK,SD57718		PC	TO DEVELOP AND TEST A NEW, STATEWIDE MODEL OF COLLECTIVE TRIBAL LEADERSHIP TO ADDRESS EDUCATION DISPARITIES AND STRENGTHEN TRIBAL SOVEREIGNTY	535,000
SPRINGBOARD FOR THE ARTS 262 UNIVERSITY AVE W SAINT PAUL,MN55103		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR SPRINGBOARD FOR THE ARTS TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
TECHNOLOGY ASSOCIATION OF GRANTMAKERS 200 W MADISON ST 3RD FL CHICAGO,IL60606		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR TECHNOLOGY ASSOCIATION OF GRANTMAKERS FOR 2024, 2025 AND 2026	5,000
THE CIRCLE CORPORATION 3045 BLOOMINGTON AVE BOX 7506 MINNEAPOLIS,MN55407		PC	2024 MEDIA SPONSORSHIP	10,000
THE CONSENSUS COUNCIL INC 125 SLATE DRIVE SUITE 6 BISMARCK,ND58503		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE CONSENSUS COUNCIL TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	144,000
THE EQUITY IN ACTION WAY FOUNDATION 290 MARKET STREET 404 MINNEAPOLIS,MN55405		PC	DEVELOP AND TEST A BLACK WOMEN AND GIRLS VULNERABILITY INDEX AND PILOT RELATED TRAININGS FOR AGENCIES AND ORGANIZATIONS TO SUPPORT THE WORK IN MINNESOTA TO ADDRESS ISSUE OF MISSING AND MURDERED BLACK WOMEN AND GIRLS	718,858
THIRD SECTOR NEW ENGLAND INC 89 SOUTH ST STE 700 BOSTON,MA02111		PC	BUSH FOUNDATION MEMBERSHIP DUES FOR LEADERSHIP DEVELOPMENT FUNDERS GROUP.	10,000
TIWAHE FOUNDATION 570 N ASBURY ST STE 104 SAINT PAUL,MN55104		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR THE TIWAHE FOUNDATION TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
TWIN CITIES PUBLIC TELEVISION INC 172 E FOURTH ST ST PAUL,MN55101		PC	2024 MEDIA SPONSORSHIP TO SUPPORT TWIN CITIES PBS	35,000
VISION WEST ND INC 2493 4TH AVE W STE G DICKINSON,ND58601		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR VISION WEST ND TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	39,000
VOICES FOR RACIAL JUSTICE 2525 E FRANKLIN AVE STE 301 MINNEAPOLIS,MN55406		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR VOICES FOR RACIAL JUSTICE TO HELP ADVANCE ITS MISSION AND SUPPORT THE WORK OF OTHERS	150,000
WAKAN TIPI AWANYANKAPI 332 NORTH MINNESOTA STREET SUITE W1520 SAINT PAUL,MN55101		PC	TO DEVELOP AND TEST A NEW MODEL OF INDIGENOUS URBAN LAND STEWARDSHIP THROUGH NONPROFIT AND MUNICIPAL GOVERNMENT CO-MANAGEMENT	2,482,095
WOMEN & TECHNOLOGY 3550 38TH STREET AVE S SUITE D2/BOX G FARGO,ND58104		PC	THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR CTB TO HELP ADVANCE ITS CHARITABLE MISSION AND SUPPORT THE WORK OF OTHERS	150,000
WOMEN'S FOUNDATION OF MINNESOTA 105 5TH AVE S STE 300 MINNEAPOLIS,MN55401		PC	IN RECOGNITION OF BECOMING A FINALIST FOR THE 2023 MINNESOTA COMMUNITY GRANT PROGRAM PARTNER RFP, THIS GRANT WILL ADVANCE THE ORGANIZATION'S CHARITABLE MISSION	10,000
Total ................................. 3a				53,713,449

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	302,993,148	296,223,747	6,769,401
b			19,473,761
c			-164,343
d			-14,669
e			-325,006
			-2,309,929
			30,007,543

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			6,769,401
b			19,473,761
c			-164,343
d			-14,669
e			-325,006
			-2,309,929
			30,007,543

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7					66,814,514
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......
c From 2021......
d From 2022......	18,838,421
e From 2023......	39,385,958
f Total of lines 3a through e ........		58,224,379
4Qualifying distributions for 2024 from Part
XI, line 4: $ 76,643,501
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.....					66,814,514
e Remaining amount distributed out of corpus		9,828,987
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		68,053,366
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 ......		68,053,366
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....	18,838,421
d Excess from 2023....	39,385,958
e Excess from 2024....	9,828,987

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	(e) Total

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

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	(e) Related or exempt function income (See instructions.)
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	14,269,354
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 .....			18	1,090,404
8 Gain or (loss) from sales of assets other than inventory ............			18	43,354,873
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPROGRAM RELATED INVESTMENT INCOME					189,658
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		58,714,631	189,658

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	3,853,599	25,454,383	25,454,383
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	164,457	251,444	251,444
	10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 94,656,449	94,656,449
	b	Investments—corporate stock (attach schedule).......	186,316,637	List of Attached Documents: // Content 354,556,018	354,556,018
	c	Investments—corporate bonds (attach schedule).......	0	List of Attached Documents: // Content 111,629,460	111,629,460
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	1,170,252,187	List of Attached Documents: // Content 795,219,691	795,219,691
	14	Land, buildings, and equipment: basis 124,011
		Less: accumulated depreciation (attach schedule) 120,339	11,443	List of Attached Documents: // Content 3,672	3,672
	15	Other assets (describe )	List of Attached Documents: // Content 38,909,788	List of Attached Documents: // Content 69,357,636	List of Attached Documents: // Content 69,357,636
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,399,508,111	1,451,128,753	1,451,128,753
	17	Accounts payable and accrued expenses..........	527,912	494,379
	18	Grants payable.................	50,730,012	67,560,933
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......	100,000,000	100,000,000
	22	Other liabilities (describe )	List of Attached Documents: // Content 6,938,237	List of Attached Documents: // Content 7,803,155
	23	Total liabilities (add lines 17 through 22).........	158,196,161	175,858,467
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	1,241,311,950	1,275,270,286
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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).....	1,241,311,950	1,275,270,286
	30	Total liabilities and net assets/fund balances (see instructions).	1,399,508,111	1,451,128,753


(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
PETERFESO CAROL	MANAGING DIRECTOR OF 40.00	406,770	42,184	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	MANAGING DIRECTOR OF 40.00	406,770	42,184	0
ROMANO CHRIS	CHIEF OPERATING OFFI 40.00	337,974	41,341	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	CHIEF OPERATING OFFI 40.00	337,974	41,341	0
PATEL ANITA	VP OF GRANTMAKING 40.00	313,022	53,856	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	VP OF GRANTMAKING 40.00	313,022	53,856	0
ANDREWS STEPHANIE	DIRECTOR, TALENT, LE 40.00	251,877	72,624	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	DIRECTOR, TALENT, LE 40.00	251,877	72,624	0
VILLAUME BETH	CONTROLLER 40.00	195,624	124,776	0
428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	CONTROLLER 40.00	195,624	124,776	0
Total number of other employees paid over $50,000...................				29

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
CAMBRIDGE ASSOCIATES LLC	INVESTMENT CONSULTING	980,657
PO BOX 412015 BOSTON,ME022412015	INVESTMENT CONSULTING	980,657
THREESPOT MEDIA LLC	CONSULTING	240,490
1325 G ST NW STE 500 WASHINGTON,DC20005	CONSULTING	240,490
THE IMPROVE GROUP INC	CONSULTING	174,369
661 LASALLE STREET SUITE 300 SAINT PAUL,MN55114	CONSULTING	174,369
THE NORTHERN TRUST COMPANY	CUSTODY SERVICES	148,500
50 S LASALLE STREET CHICAGO,IL60675	CUSTODY SERVICES	148,500
CLIFTONLARSONALLEN LLP	AUDIT AND TAX SERVICES	130,365
PO BOX 776376 CHICAGO,IL606776376	AUDIT AND TAX SERVICES	130,365

bApproved for future payment
BUSH FELLOWSHIP PROGRAM - COHORT 20 428 MINNESOTA STREET STE 400 SAINT PAUL,MN55101	NONE	I	BUSH FELLOWSHIP PROGRAM	2,527,342
COMUNIDADES LATINAS UNIDAS EN SERVICIO INC 797 E 7TH ST SAINT PAUL,MN55106		PC	DEVELOP AND TEST A NEW MODEL OF SHARED SPACE AND ACCESSIBLE TRAINING FOR CHILDCARE BUSINESSES TO INCREASE THE NUMBER OF LICENSED LATINA PROVIDERS	2,122,420
COUNCIL ON FOUNDATIONS 1255 23RD ST NW STE 200 WASHINGTON,DC20037		PC	TO SUPPORT THE COUNCIL ON FOUNDATION'S 2025 LEADING LOCALLY CONFERENCE	35,000
DAKOTA RESOURCES 25795 475TH AVE STE 1 RENNER,SD57055		PC	SOUTH DAKOTA GIVES DAY PRIZES, INCENTIVES AND OPERATING SUPPORT FOR 2025-2028	810,000
GIVEMN 200 SOUTHDALE CENTER 172 EDINA,MN55435		PC	GIVE TO THE MAX DAY PRIZES, INCENTIVES AND OPERATING SUPPORT FOR 2025-2028	810,000
GLOBAL HEALTH ALLIANCE INC 3800 AMERICAN BOULEVARD WEST SUITE 750 BLOOMINGTON,MN55431		PC	TO DEVELOP AND TEST A CULTURALLY RESPONSIVE MODEL CALLED HOOYO'S PERINATAL NAVIGATION SYSTEM THAT DELIVERS ENHANCED PERINATAL OFFERINGS, REVITALIZES TRADITIONAL SOMALI BIRTHING PRACTICES, AND IMPROVES MATERNAL AND CHILD OUTCOMES	630,000
GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS 1310 L ST NW STE 650 WASHINGTON,DC20005		PC	TO SUPPORT THE 2025 GEO LEARNING CONFERENCE	15,000
IMPACT FOUNDATION 4321 20TH AVENUE SOUTH FARGO,ND58103		PC	2025 GIVING HEARTS DAY PRIZES, INCENTIVES AND OPERATING SUPPORT	200,000
LEECH LAKE TRIBAL COUNCIL 190 SAILSTAR DR NW CASS LAKE,MN56633		GOV	TO DEVELOP AND TEST A COMMUNITY-DRIVEN MODEL FOR TRIBAL-DESIGNED CURRICULA THAT SETS A NEW STANDARD FOR COMMUNITY OWNERSHIP AND TRIBAL SELF-DETERMINATION IN EDUCATION	7,659,750
MIDWEST INDIGENOUS IMMERSION NETWORK 46754 EARLE BROWN DRIVE GARRISON,MN56450		PC	TO SPREAD OJIBWE LANGUAGE REVITALIZATION BY DEVELOPING A BIGGER, SHARED INFRASTRUCTURE	6,963,000
MINNEAPOLIS FOUNDATION 80 S 8TH ST STE 800 MINNEAPOLIS,MN55402		PC	TO TEST A SPECIAL-PURPOSE CREDIT PROGRAM THAT IS BACKED BY A LOAN GUARANTEE TO INCREASE ACCESS TO CAPITAL FOR BLACK WEALTH BUILDERS AND SHIFT BANK UNDERWRITING AND LENDING STANDARDS	4,400,000
MINNESOTA COUNCIL ON FOUNDATIONS 800 WASHINGTON AVE N STE 703 MINNEAPOLIS,MN554011167		PC	TO SUPPORT THE 2025 MINNESOTA COUNCIL OF FOUNDATIONS ANNUAL CONFERENCE	10,000
NATIVE GOVERNANCE CENTER 1730 NEW BRIGHTON BLVD STE 104-236 MINNEAPOLIS,MN55413		PC	TO IMPROVE THE FINANCIAL MANAGEMENT AND CAPACITY OF NATIVE NATIONS BY SPREADING A TESTED MODEL THAT PROMOTES SUSTAINABLE FINANCIAL PRACTICES AND BUILDS NATIVE SELF-DETERMINATION	4,291,665
NATIVE WAYS FEDERATION C/O BUSH FOUNDATION 428 MINNESOTA ST STE 400 SAINT PAUL,MN55101		PC	NATIVE NONPROFIT DAY PRIZES, INCENTIVES AND OPERATING SUPPORT FOR 2025-2028	810,000
NOAH POOL II LLC 332 MINNESOTA ST STE 1650W SAINT PAUL,MN55101		SO I	A 18.5-YEAR LIMITED INTEREST LIQUIDITY FACILITY GUARANTY (ILF-C GUARANTY) FOR NOAH POOL LLC TO SECURE CAPITAL FROM MISSION-ALIGNED BANK PARTNERS	2,000,000
PEAK GRANTMAKING INC 1701 PENNSYLVANIA AVE NW STE 200 WASHINGTON,DC20006		PC	TO SUPPORT THE 2025 PEAK GRANTMAKING CONFERENCE	15,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION STAFF FUND	105,400
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO CONTRIBUTE ADDITIONAL FUNDS TO THE BUSH FOUNDATION BOARD OF DIRECTORS FUND	260,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	ADVANCING DIGITAL EQUITY IN THE BUSH FOUNDATION REGION	150,000
SAINT PAUL AND MINNESOTA FOUNDATION 370 WABASHA STREET NORTH SUITE 300 SAINT PAUL,MN55102		PC	TO OPERATE TWO GRANT PROGRAMS WITH THE PURPOSE OF INSPIRING AND SUPPORTING CREATIVE PROBLEM-SOLVING ACROSS MINNESOTA AND THE NATIVE NATIONS THAT SHARE THAT GEOGRAPHY.	4,800,000
THE EQUITY IN ACTION WAY FOUNDATION 290 MARKET STREET 404 MINNEAPOLIS,MN55405		PC	DEVELOP AND TEST A BLACK WOMEN AND GIRLS VULNERABILITY INDEX AND PILOT RELATED TRAININGS FOR AGENCIES AND ORGANIZATIONS TO SUPPORT THE WORK IN MINNESOTA TO ADDRESS ISSUE OF MISSING AND MURDERED BLACK WOMEN AND GIRLS	2,543,492
Total ................................. 3b				41,158,069

Line No.	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.)
11A	PROGRAM-RELATED INVESTMENTS CONSIST OF DEBT AND EQUITY POSITIONS IN ORGANIZATIONS THAT CONDUCT ACTIVITIES THAT FULFILL THE CHARITABLE PURPOSES OF THE FOUNDATION.

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
ANPETU WI LLC	PO BOX 298 FORT YATES,SD58538	2022-11-18	1,500,000	A TEN-YEAR PROGRAM RELATED INVESTMENT FOR THE ANPETU WI WIND FARM ENABLING STANDING ROCK SIOUX TRIBE TO DEVELOP ENERGY SELF-RELIANCE WHILE UPHOLDING CULTURAL VALUES, MEETING ECONOMIC GOALS AND COMBATING CLIMATE CHANGE	628,476	NONE	09/26/23, 07/11/24, 06/11/25	2025-06-11	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JUNE 11, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
FINNOVATION LAB LLC	817 5TH AVE STE 400 MINNEAPOLIS,MN55404	2021-10-04	500,000	SUPPORT NEXT PHASE OF FINNOVATION LAB WORK TO HELP CREATE AND GROW SOCIAL BUSINESSES	500,000	NONE	03/03/22, 03/15/23, 08/26/24, 06/13/25	2025-06-13	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JUNE 13, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
SHARED CAPITAL COOPERATIVE	2388 UNIVERSITY AVE W STE 300 SAINT PAUL,MN55114	2022-02-15	2,100,000	TO DEVELOP AND TEST A COMMONS-BASED APPROACH TO ACQUIRE AND STEWARD A NETWORK OF FARMS ACROSS MINNESOTA FOCUSED ON SUPPORTING BIPOC FARMERS.	958,668	NONE	01/30/23, 01/31/24, 01/31/25	2025-01-31	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JANUARY 31, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
STANDING ROCK SIOUX TRIBE RENEWABLE ENERGY POWER AUTHORITY	PO BOX 298 FORT YATES,SD58538	2024-09-18	2,240,000	A FIVE-YEAR PROGRAM-RELATED INVESTMENT TO SUPPORT SAGE DEVELOPMENT AUTHORITY DURING THE PRE-DEVELOPMENT PROCESS FOR THE ANPETU WI WIND FARM OWNED BY THE STANDING ROCK SIOUX TRIBE TO DEVELOP ENERGY SELF-RELIANCE.	0	NONE	06/11/25	2025-06-11	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JUNE 11, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
LEAVITT PARTNERS	601 NEW JERSEY AVENUE NW STE 350 WASHINGTON,DC20001	2024-04-08	1,335,000	TO DEVELOP A NEW STRATEGIC ALLIANCE TO CHANGE FEDERAL POLICIES TO IMPROVE HEALTH CARE ACCESS AND OUTCOMES IN INDIAN COUNTRY	350,476	NONE	05/29/25	2025-05-29	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON MAY 29, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
RURAL DEVELOPMENT FINANCE CORPORATION	PO BOX 727 3201 NYGREN DRIVE NW MANDAN,ND58554	2024-10-29	150,000	UNDERSTANDING NEWS DESERTS IN NORTH DAKOTA AND IMPLEMENTING IDEAS TO RETAIN LOCAL NEWS SOURCES	0	NONE	05/27/25	2025-05-27	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON MAY 27, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
STANDING ROCK SIOUX TRIBE RENEWABLE ENERGY POWER AUTHORITY	PO BOX 298 FORT YATES,SD58538	2024-04-03	2,833,239	A FIVE-YEAR PROGRAM-RELATED INVESTMENT TO SUPPORT SAGE DEVELOPMENT AUTHORITY DURING THE PRE-DEVELOPMENT PROCESS FOR THE ANPETU WI WIND FARM OWNED BY THE STANDING ROCK SIOUX TRIBE TO DEVELOP ENERGY SELF-RELIANCE.	2,833,239	NONE	06/11/25	2025-06-11	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JUNE 11, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).
RENEWABLE ENERGY PARTNERS	1200 PLYMOUTH AVE NORTH MINNEAPOLIS,MN55411	2023-11-06	2,250,000	TO TEST A CLEAN ENERGY WORKFORCE MODEL THAT DELIVERS EQUITABLE CLEAN ENERGY BENEFITS TO BLACK, INDIGENOUS, AND PEOPLE OF COLOR	855,332	NONE	07/03/24, 07/17/25	2025-07-17	THE BUSH FOUNDATION REVIEWED THE GRANT REPORT ON JULY 17, 2025 BUT DID NOT UNDERTAKE ANY VERIFICATION OF THE GRANTEE'S REPORTS AS THERE HAS NOT BEEN ANY REASON TO DOUBT THEIR ACCURACY OR RELIABILITY (REG. 53.4945-59(C)).

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BRECKINRIDGE INTERMEDIATE CORE	39,139,233	39,139,233
BRECKINRIDGE SHORT CORE	45,536,988	45,536,988
SHENKMAN SHORT DUR HI	26,953,239	26,953,239

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ADAGE CAPITAL PTRS	169,156,779	169,156,779
ALTRAVUE FUND I	19,924,199	19,924,199
ARIEL FUND INSTITUTIONAL	16,512,537	16,512,537
CANTILLON GLOBAL EQUITY FUND	24,395,340	24,395,340
METIS INT'L CLIMATE IND	17,826,750	17,826,750
METIS US CLIMATE INDX	21,361,475	21,361,475
OVERLOOK PARTNERS FUND	17,962,453	17,962,453
SILCHESTER	54,978,299	54,978,299
STEWART MAHOUT SUSTAIN	12,438,186	12,438,186

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ADVENT INTERNATIONAL GPE VI	FMV	1,135,162	1,135,162
ADVENT INT'L GPE IX	FMV	12,238,133	12,238,133
ADVENT INT'L GPE VIII	FMV	13,825,240	13,825,240
ADVENT INTL GPE X	FMV	6,036,654	6,036,654
ADVENT INT'L VII	FMV	817,236	817,236
ADVENT LATIN AMERICA VI	FMV	8,184,345	8,184,345
AT ONE VENTURES II	FMV	837,404	837,404
BADLANDS EQUITY FUND 22	FMV	1,633,756	1,633,756
BASE10 ADVANCE INITIATIVE I	FMV	799,208	799,208
BASE10 ADVANCE INITIATIVE II	FMV	586,138	586,138
BEDROCK CAPITAL II	FMV	7,777,431	7,777,431
BROWN VENTURE GROUP FUND	FMV	837,095	837,095
CA RESOURCES FUND KPS V	FMV	3,782,912	3,782,912
CA RESOURCES FUND KPS VI	FMV	664,341	664,341
CAPITA3 VENTURE FUND II	FMV	380,670	380,670
CAPITAL TODAY CHINA II	FMV	4,763,864	4,763,864
CAPITAL TODAY EVERGREEN	FMV	21,912,629	21,912,629
CIM ENTERPRISING LOAN FUND	FMV	31,756,167	31,756,167
CONGRUENT VENTURES III	FMV	62,605	62,605
CORTEC GROUP FUND VII A	FMV	9,528,422	9,528,422
CRESSY & CO FUND V	FMV	11,567,357	11,567,357
CRESSY & CO FUND VI	FMV	5,559,920	5,559,920
DAVIDSON KEMPNER	FMV	49,790,441	49,790,441
GENUI FUND II	FMV	6,049,530	6,049,530
GENUI FUND III	FMV	507,706	507,706
GRANITE EQUITY	FMV	6,402,989	6,402,989
GREAT NORTH CAP FUND II	FMV	865,212	865,212
GROOVE CAPITAL FUND I	FMV	516,423	516,423
GROOVE CAPITAL FUND II	FMV	866,062	866,062
HARBOURVEST PARTNERS VII	FMV	58,769	58,769
HIGHBRIDGE TACTICAL CREDIT FUND	FMV	22,639,006	22,639,006
HONGSHAN CAP GROWTH 2010	FMV	1,085,738	1,085,738
HONGSHAN CAP GROWTH III	FMV	65,498,005	65,498,005
HONGSHAN CAP GROWTH IV	FMV	18,299,880	18,299,880
HONGSHAN CAP GROWTH V	FMV	12,343,431	12,343,431
HONGSHAN CAP GROWTH VI	FMV	8,193,634	8,193,634
HONGSHAN CAP GROWTH VII	FMV	392,164	392,164
HONGSHAN CAP SEED I	FMV	1,088,192	1,088,192
HONGSHAN CAP SEED II	FMV	1,401,330	1,401,330
HONGSHAN CAP SEED III	FMV	177,003	177,003
HONGSHAN CAP VENTURE 2010	FMV	1,615,055	1,615,055
HONGSHAN CAP VENTURE IV	FMV	4,827,456	4,827,456
HONGSHAN CAP VENTURE IX	FMV	366,556	366,556
HONGSHAN CAP VENTURE V	FMV	2,383,396	2,383,396
HONGSHAN CAP VENTURE VI	FMV	5,879,636	5,879,636
HONGSHAN CAP VENTURE VII	FMV	3,248,279	3,248,279
HONGSHAN CAP VENTURE VIII	FMV	2,596,156	2,596,156
HUDSON BAY INTL FUND	FMV	23,035,438	23,035,438
IMPACT AMERICA II	FMV	634,180	634,180
IMPACT AMERICA III	FMV	66,425	66,425
INVESTCORP	FMV	1,353,724	1,353,724
IVP XIII	FMV	248,269	248,269
IVP XIV	FMV	1,739,734	1,739,734
IVP XV	FMV	11,149,460	11,149,460
IVP XVI	FMV	14,332,765	14,332,765
IVP XVII	FMV	11,963,133	11,963,133
IVP XVIII	FMV	347,649	347,649
MAGNETAR CAP	FMV	165,096	165,096
MGG EVERGREEN FUND A	FMV	9,581,343	9,581,343
OBVIOUS VENTURES III	FMV	6,108,515	6,108,515
OBVIOUS VENTURES IV	FMV	2,561,163	2,561,163
ONE ROCK CAPITAL PARTNERS	FMV	2,441,866	2,441,866
ONE ROCK CAPITAL PARTNERS II	FMV	4,717,134	4,717,134
PALMER SQUARE MAC FUND	FMV	20,082,362	20,082,362
PEAK XV PARTNERS GROWTH II	FMV	9,223,281	9,223,281
PEAK XV PARTNERS IV	FMV	5,115,028	5,115,028
PEAK XV PARTNERS SEED I	FMV	1,454,728	1,454,728
PEAK XV PARTNERS SEED II	FMV	686,759	686,759
PEAK XV PARTNERS V	FMV	12,115,892	12,115,892
PEAK XV PARTNERS VI	FMV	9,791,331	9,791,331
PEPPERTREE CAPITAL X	FMV	1,725,325	1,725,325
RAVEN II INTL FEEDER	FMV	394,710	394,710
RBC ACCESS CAPTL COMMUNITY	FMV	6,081,012	6,081,012
REACH CAP FUND IV	FMV	697,405	697,405
RESOURCE LAND FUND IV	FMV	653,922	653,922
RESOURCE LAND FUND V	FMV	3,421,073	3,421,073
SEAE VENTURES I	FMV	748,740	748,740
SEAE VENTURES II	FMV	111,484	111,484
SEQUOIA CAP GROWTH FUND III	FMV	321,839	321,839
SEQUOIA CAP US VENTURE 2010	FMV	21,432,505	21,432,505
SEQUOIA CAPITAL FRANCHISE FUND	FMV	467,962	467,962
SEQUOIA CAPITAL FUND	FMV	89,507,678	89,507,678
SEQUOIA CAPITAL US GROWTH IV	FMV	16,919,060	16,919,060
SEQUOIA CAPITAL US GROWTH V	FMV	1,192,027	1,192,027
SEQUOIA CAPITAL US GROWTH VI	FMV	1,325,459	1,325,459
SEQUOIA CP GBL GROWTH	FMV	15,557,781	15,557,781
SEQUOIA GLOBAL GROWTH II	FMV	34,357,507	34,357,507
SEQUOIA ISRAEL V	FMV	3,770,572	3,770,572
SEQUOIA US CAP SCOUT SEED III	FMV	2,495,965	2,495,965
SEQUOIA US E SEED FUND IV	FMV	1,334,839	1,334,839
SEQUOIA US GROWTH IX	FMV	8,711,143	8,711,143
SEQUOIA US GROWTH VII	FMV	5,535,023	5,535,023
SEQUOIA US GROWTH VIII	FMV	10,650,111	10,650,111
SEQUOIA US VENTURE XV	FMV	5,610,876	5,610,876
SEQUOIA US VENTURE XVI	FMV	10,221,919	10,221,919
SEQUOIA US VENTURE XVII	FMV	6,172,608	6,172,608
SEQUOIA US XIV	FMV	2,593,115	2,593,115
SOFINNOVA VENTURE PARTNERS IX	FMV	1,874,475	1,874,475
SOFINNOVA VENTURE X	FMV	2,035,276	2,035,276
SOFINNOVA VENTURE XI	FMV	1,637,830	1,637,830
STEPSTONE INTERNATIONAL III	FMV	31,880	31,880
SUN CAPITAL V	FMV	253,104	253,104
TA XII A LP	FMV	8,039,155	8,039,155
TUNDRA VENTURES FUND I	FMV	337,649	337,649
URBAN INNOVATION FUND II	FMV	2,743,738	2,743,738
URBAN INNOVATION FUND III	FMV	1,557,029	1,557,029
VELVETEEN VENTURES I	FMV	305,452	305,452
W CAPITAL PARTNERS IV	FMV	2,134,231	2,134,231
W CAPITAL PARTNERS V	FMV	3,463,098	3,463,098
WALTON STREET CAP VII	FMV	890,570	890,570
WALTON STREET FUND V	FMV	272,260	272,260
WALTON STREET VI	FMV	6,938,271	6,938,271

Software ID:
Software Version:

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
DIVIDENDS AND INTEREST RECEIVABLE	1,830,244	2,050,863	2,050,863
FEDERAL EXCISE AND UBIT RECEIVABLE	1,639,112	1,479,430	1,479,430
PROGRAM RELATED INVESTMENTS	24,750,812	34,014,425	34,014,425
UNSETTLED TRADES RECEIVABLE	10,689,620	31,812,918	31,812,918

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
MEMBERSHIP DUES AND SUBSCRIPTIONS	76,711	1,818	74,893
MACHINE RENTAL/REPAIR	65,973	1,423	64,550
MISCELLANEOUS	305,441	2,218	303,223
INSURANCE	41,547	0	41,547
TELEPHONE	78,578	0	78,578
EQUIPMENT	267,707	0	267,707

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
PARTNERSHIP INCOME	1,090,404	138,921	1,090,404
PARTNERSHIP PASSTHROUGH INCOME		37,745,957
PROGRAM RELATED INVESTMENT INCOME	189,658	189,658	189,658

Description	Beginning of Year - Book Value	End of Year - Book Value
OTHER LIABILITIES	752,538	717,533
DEFERRED FEDERAL EXCISE TAXES	6,185,699	7,085,622

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
GRANT CONSULTING	915,392	1,037	914,355
ADMINISTRATIVE EXPENSE	7,500	7,500	0
INVESTMENT EXPENSES	2,194,513	2,194,513	0