Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
GALE FAMILY FOUNDATION
C/O GORDON HEINSON
Number and street (or P.O. box number if mail is not delivered to street address) 80 SOUTH 8TH STREET 1900
 
Room/suite
City or town
MINNEAPOLIS
State or province
MN
Country  
ZIP or foreign postal code
55402
A Employer identification number

56-2676045
B Telephone number (see instructions)

6123597632
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$34,116,191
J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books
(b) Net investment
income
(c) Adjusted net
income
(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments 274,061 274,061  
4 Dividends and interest from securities... 289,544 289,544  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 27,361
b Gross sales price for all assets on line 6a 27,361
7 Capital gain net income (from Part IV, line 2)... 2,213,296
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 590,966 2,776,901  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 6,053 6,053   0
b Accounting fees (attach schedule)....... 4,093 4,093   0
c Other professional fees (attach schedule).... 190,689 190,689   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 519 519   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 28,638 28,638   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 229,992 229,992   0
25 Contributions, gifts, grants paid....... 1,675,200 1,675,200
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,905,192 229,992   1,675,200
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,314,226
b Net investment income (if negative, enter -0-) 2,546,909
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)
Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 321,454 167,081 167,081
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..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,770,476 Click to see attachment
List of Attached Documents:
// Content
2,032,819
2,054,816
b Investments—corporate stock (attach schedule)....... 8,582,389 Click to see attachment
List of Attached Documents:
// Content
8,387,416
24,086,578
c Investments—corporate bonds (attach schedule)....... 5,665,254 Click to see attachment
List of Attached Documents:
// Content
6,766,319
7,509,247
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 220,196 Click to see attachment
List of Attached Documents:
// Content
169,154
298,469
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,559,769 17,522,789 34,116,191
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 16,559,769 17,522,789
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 16,559,769 17,522,789
30 Total liabilities and net assets/fund balances (see instructions). 16,559,769 17,522,789
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
16,559,769
2
Enter amount from Part I, line 27a .....................
2
-1,314,226
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
2,277,246
4
Add lines 1, 2, and 3 ..........................
4
17,522,789
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
17,522,789
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)
(b)
How acquired
P—Purchase
D—Donation
(c)
Date acquired
(mo., day, yr.)
(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price
(f)
Depreciation allowed
(or allowable)
(g)
Cost or other basis
plus expense of sale
(h)
Gain or (loss)
(e) plus (f) minus (g)
a 8,356,166   6,170,231 2,185,935
b 27,361     27,361
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69
(j)
Adjusted basis
as of 12/31/69
(k)
Excess of col. (i)
over col. (j), if any
a       2,185,935
b       27,361
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
Bracket 2 2,213,296
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 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 35,402
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 35,402
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 35,402
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 30,000
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 30,000
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
8 380
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 5,782
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
MN
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 2025 or the taxable year beginning in 2025? 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 addressN/A
14
The books are in care ofEDWARD GALE Telephone no. (505) 690-6166

Located at512 CAMINO LEJOSANTA FENM ZIP+487505
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, 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
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
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 2025? .............
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 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 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.
20, 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 2025 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 Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
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 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
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)
Yes
 
(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
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........
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
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
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
ED GALE PRESIDENT/DIRECTOR
1.00
0 0 0
512 CAMINO LEJO
SANTA FE,NM87505
MARIA GALE DIRECTOR
0.00
0 0 0
512 CAMINO LEJO
SANTA FE,NM87505
SAMUEL GALE TREASURER/DIRECTOR
0.00
0 0 0
132 INTERLACHEN ROAD
HOPKINS,MN55343
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position
(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation
(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 CASH CONTRIBUTIONS TO PUBLIC CHARITIES. 1,675,200
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
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
31,828,215
b
Average of monthly cash balances.......................
1b
669,497
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
32,497,712
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
32,497,712
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
487,466
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
32,010,246
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,600,512
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,600,512
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
35,402
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
35,402
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,565,110
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,565,110
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
1,565,110
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, line 26, column (d) ..........
1a
1,675,200
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,675,200
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus
(b)
Years prior to 2024
(c)
2024
(d)
2025
1 Distributable amount for 2025 from Part X, line 7 1,565,110
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 690,728
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,675,200
a Applied to 2024, but not more than line 2a 690,728
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 2025 distributable amount..... 984,472
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 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 0
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions .............
0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 ..........
580,638
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 2020 not
applied on line 5 or line 7 (see instructions) ...
0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ......
0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
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 2025, enter the date of the ruling ......
 
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) 2025 (b) 2024 (c) 2023 (d) 2022
         
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, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)
         
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed ..
         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) ....
         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii)....
         
(3) Largest amount of support
from an exempt organization
         
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here 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, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
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

AFGHAN SCOUT RELIEF FUND

PO BOX 1886
RANCHOS DE TAOS,NM87557
    GENERAL UNRESTRICTED 27,500

BARRY LOPEZ FOUNDATION FOR ART AND ENVIRONMENT

223 N GUADALUPE STREET NO 557
SANTA FE,NM87501
    GENERAL UNRESTRICTED 25,000

BLAKE SCHOOL

110 BLAKE ROAD SOUTH
HOPKINS,MN55343
    GENERAL UNRESTRICTED 50,000

CANCER FOUNDATION OF NEW MEXICO

2009 BOTULPH RD SUITE 100
SANTA FE,NM87505
    GENERAL UNRESTRICTED 18,500

COMMUNITIES IN SCHOOLS - NEW MEXICO

1442 S ST FRANCIS DR SUITE F
SANTA FE,NM87505
    GENERAL UNRESTRICTED 20,000

DIA CENTER FOR THE ARTS INC

535 W 22ND ST FL 6
NEW YORK CITY,NY100111119
    GENERAL UNRESTRICTED 15,000

FOUNTAIN VALLEY SCHOOL

10055 SLATER AVENUE
FOUNTAIN VALLEY,CA92708
    GENERAL UNRESTRICTED 10,000

FRIENDSHIP CLUB

1316 APACHIE AVE
SANTA FE,NM87505
    GENERAL UNRESTRICTED 10,000

GIRLS INC OF SANTA FE

301 HILLSIDE AVENUE
SANTA FE,NM87501
    GENERAL UNRESTRICTED 5,000

GLOBAL SANTA FE

413 GRANT AVENUE SUITE D
SANTA FE,NM87501
    GENERAL UNRESTRICTED 10,000

GROWING UP NEW MEXICO

440 CERRILLOS RD
SANTA FE,NM87501
    GENERAL UNRESTRICTED 25,000

INSTITUTE OF AMERICAN INDIAN ARTS (IAIA)

83 AVAN NU PO ROAD
SANTA FE,NM87508
    GENERAL UNRESTRICTED 50,000

INTERNATIONAL FOLK ART MARKET

620 CERRILLOS RD
SANTA FE,NM87505
    GENERAL UNRESTRICTED 2,500

KANW PUBLIC RADIO (ALBUQUERQUE PUBLIC SCHOOLS FOUNDATION)

2020 COAL AVE SE
SANTA FE,NM87106
    GENERAL UNRESTRICTED 10,000

LAND LIGHT FOUNDATION

69 WOOSTER STREET 7
NEW YORK,NY10012
    GENERAL UNRESTRICTED 100,000

LENSIC PERFORMING ARTS CENTER

211 W SAN FRANCISCO ST
SANTA FE,NM87501
    GENERAL UNRESTRICTED 117,500

MAY CENTER FOR LEARNING

1200 OLD PECOS TRAIL
SANTA FE,NM87505
    GENERAL UNRESTRICTED 250,000

MINNEAPOLIS INSTITUTE OF ARTS

2400 3RD AVE S
MINNEAPOLIS,MN55404
    GENERAL UNRESTRICTED 50,000

MUSEUM OF NEW MEXICO FOUNDATION

1411 PASEO DE PERALTA
SANTA FE,NM87501
    GENERAL UNRESTRICTED 25,600

NATIONAL GALLERY OF ART

CONSTITUTION AVE NW
WASHINGTON DC,DC20565
    GENERAL UNRESTRICTED 25,000

NATIONAL GHOST RANCH FOUNDATION

280 PRIVATE DRIVE 1708
ABIQUIU,NM87510
    GENERAL UNRESTRICTED 15,000

NDI NEW MEXICO

1140 ALTO STREET
SANTA FE,NM87501
    GENERAL UNRESTRICTED 30,000

NEW MEXICO SCHOOL FOR THE ARTS - ART INSTITUTE

500 MONTEZUMA AVENUE
SANTA FE,NM87501
    GENERAL UNRESTRICTED 10,000

OCCIDENTAL COLLEGE

1600 CAMPUS ROAD
LAS ANGELES,CA90041
    GENERAL UNRESTRICTED 100,000

OWAMNIYOMNI OKHODAYAPI

400 S 4TH ST SUITE 401 BOX 211
MINNEAPOLIS,MN55415
    GENERAL UNRESTRICTED 10,000

PLANNED PARENTHOOD OF ROCKY MOUNTAINS

7155 E 38TH AVE
DENVER,CO80207
    GENERAL UNRESTRICTED 20,000

PROJECT PERFECT WORLD

854 WEST 450 NORTH STE 8
KAYSVILLE,UT84037
    GENERAL UNRESTRICTED 30,000

RADIUS BOOKS

227 E PALACE AVE
SANTA FE,NM87501
    GENERAL UNRESTRICTED 55,000

SANTA FE BOTANICAL GARDEN

715 CAMINO LEJO
SANTA FE,NM87505
    GENERAL UNRESTRICTED 5,000

SANTA FE CHAMBER MUSIC FESTIVAL

208 GRIFFIN ST
SANTA FE,NM87501
    GENERAL UNRESTRICTED 3,600

SANTA FE CHILDREN'S MUSEUM

1050 OLD PECOS TRAIL
SANTA FE,NM87505
    GENERAL UNRESTRICTED 7,500

SANTA FE COMMUNITY FOUNDATION

501 HALONA STREET
SANTA FE,NM87505
    GENERAL UNRESTRICTED 100,000

SANTA FE INTERNATIONAL LITERARY FESTIVAL

101 W MARCY ST SUITE 210
SANTA FE,NM87501
    GENERAL UNRESTRICTED 125,000

SANTA FE PREPARATORY SCHOOL

1101 CAMINO DE LA CRUZ BLANCA
SANTA FE,NM87505
    GENERAL UNRESTRICTED 75,000

SHIVA IRONS SOCIETY

495 ELDER AVE 5
SAND CITY,CA93955
    GENERAL UNRESTRICTED 2,500

SITE SANTA FE

1606 PASEO DE PERALTA
SANTA FE,NM87501
    GENERAL UNRESTRICTED 100,000

ST ELIZABETH'S SHELTER

804 ALARID ST
SANTA FE,NM87505
    GENERAL UNRESTRICTED 10,000

THE AMERICAN GENERAL MEDIA

PO BOX 2700
BAKERSFIELD,CA93303
    GENERAL UNRESTRICTED 5,000

THE FOOD DEPOT

1222A SILER ROAD
SANTA FE,NM87507
    GENERAL UNRESTRICTED 10,000

THE GEORGIA O'KEEFFE MUSEUM

217 JOHNSON ST
SANTA FE,NM87501
    GENERAL UNRESTRICTED 50,000

THINK NEW MEXICO

1227 PASEO DE PERALTA
SANTA FE,NM87501
    GENERAL UNRESTRICTED 15,000

UNIVERSITY OF NEW MEXICO FOUNDATION

700 LOMAS BLVD NE BUILDING 2
ALBUQUERQUE,NM87102
    GENERAL UNRESTRICTED 10,000

WHEELWRIGHT MUSEUM

704 CAMINO LEJO
SANTA FE,NM87505
    GENERAL UNRESTRICTED 10,000

WITTER BYNNER FOUNDATION FOR POETRY

PO BOX 10169
SANTA FE,NM87504
    GENERAL UNRESTRICTED 5,000

WRIGHT-INGRAHAM INSTITUTE

659 CARROLL ST
BROOKLYN,NY11215
    GENERAL UNRESTRICTED 25,000
Total ................................. 3a 1,675,200
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ...........
    14 274,061  
4 Dividends and interest from securities ....     14 289,544  
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 ............
    14 27,361  
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) .. 0 590,966 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
590,966
(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 (2025)
Form 990-PF (2025)
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed
PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 4,093 4,093   0

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2025 ExpenditureResponsibilityStmt
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
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
THE JOHN GALE MEMORIAL FOUNDATION
 
150 SOUTH FIFTH STREET 1330
MINNEAPOLIS,MN55402
2024-01-12 9,926,167 TO ASSIST IN ACHIEVING THE GRANTEE'S PURPOSE: MAKING TARGETED GRANTS TO MISSION APPROPRIATE ORGANIZATIONS IN ORDER TO FULFILL THE FOUNDATION'S PHILANTHROPIC GOALS OF HELPING THEIR COMMUNITIES. 420,280     2026-03-31 GRANT IS BEING USED CONSISTENTLY WITH THE CHARITABLE PURPOSE OF THIS FOUNDATION.

TY 2025 InvestmentsCorpBondsSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Name of Bond End of Year Book Value End of Year Fair Market Value
AMERICAN AIRLINES 80,568 78,705
AUTOZONE INC 74,877 76,961
BANK OF AMERICA CORP 100,000 102,422
CBRE GROUP INC 152,024 803,950
CIGNA GROUP 75,332 77,138
COSTCO WHOLESALE GROUP 92,123 99,637
CSX CORP 76,036 74,885
CVS HEALTH CORP 71,913 77,219
DUKE ENERGY FLORIDA 40,950 39,504
ENTERPRISE PRODUCTS OPER 136,560 149,744
ENTERPRISE PRODUCTS OPER 74,975 75,001
GOLUB CAPITAL 10 INT 875,000 875,000
INGERSOLL-RAND 75,117 74,901
JPMORGAN CHASE & CO 150,149 149,546
MORGAN STANLEY 150,025 149,952
ORACLE CORPORATION 75,817 73,370
PARKER-HANNIFIN CORP 74,102 75,446
PEPSICO INC 108,025 108,105
PFIZER INVT ENTERPRISES 113,963 117,271
RTX CORP 78,459 80,786
SHELL INTERNATIONAL 70,148 74,764
SMITHSONIAN INSTITUTION 75,000 73,988
VISA INC 62,123 69,502
WALMART INC 115,000 114,794
WALT DISNEY COMPANY 108,845 109,066
WELLS FARGO & COMPANY 75,799 75,007
GENERAL MOTORS FINL CO 100,048 101,294
GATX CORP 74,930 76,069
WEYERHAEUSER CO 96,420 98,628
COCA-COLA CO 99,968 102,084
ORACLE CORPORATION 49,854 46,354
LUBRIZOL CORP 113,198 112,765
PRES & FELLOWS OF HARVAR 100,000 100,580
COLUMBIA UNIVERSITY 254,921 264,205
XTO ENERGY INC 114,529 113,625
LOWES COMPANIES INC 114,158 113,152
ARES CAPITAL CORP 198,400 202,300
CHEVRON USA INC 99,992 100,772
ASCENSION HEALTH 100,000 100,400
SYNCHRONY FINANCIAL 75,638 75,944
HERSHEY COMPANY 100,075 102,709
PACCAR FINANCIAL CORP 202,442 203,694
T-MOBILE USA INC 99,985 99,404
AMPHENOL CORP 149,816 148,424
FEDEX ASSET BCKD SEC SER 2020-1 CL AA 159,026 159,805
GATX CORP 199,494 204,944
PUBLIC STORAGE OPER CO 149,336 152,411
JOHNSON & JOHNSON 252,168 263,637
EXXON MOBIL CORPORATION 121,962 120,036
NEXTERA ENERGY CAPITAL 306,394 316,065
NEXTERA ENERGY CAPITAL 100,578 103,225
CVS HEALTH CORP 150,057 150,057

TY 2025 InvestmentsCorpStockSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBVIE INC 56,899 388,433
ADOBE INC 319,057 265,292
ALPHABET INC CL C 159,206 1,918,573
AMAZON.COM INC 207,172 1,111,167
APPLE INC 118,284 1,304,928
ARTISAN INTL VALUE FUND-INS 232,800 329,994
AUTOZONE INC 169,875 671,517
BERKSHIRE HATHAWAY INC-CI B 156,108 657,969
BLACKSTONE GROUP 80,572 702,262
BUILDERS FIRSTSOURCE INC 182,678 448,395
CDW CORP 328,348 434,478
CHUBB LTD 153,581 422,923
CISCO SYSTEMS INC. 55,705 250,348
CROCS INC 431,906 353,283
EOG RES INC 517,435 496,487
GENERAC HOLDINGS INC 302,604 166,371
HOME DEPOT 300,919 677,877
JOHNSON & JOHNSON 189,476 579,460
JP MORGAN CHASE & CO 296,665 1,016,926
LILLY ELI & CO 49,502 1,235,882
MASTERCARD INC CL A 147,728 856,320
MERCK & CO INC 193,966 515,774
MICROSOFT CORP 83,672 1,330,439
MORGAN STANLEY 200,474 691,834
NVIDIA CORP 223,462 2,088,800
THERMO FISHER SCIENTIFIC INC 149,289 653,620
US BANCORP NEW 177,515 293,480
VANGUARD INTL GROWTH FUND AD 214,320 194,200
WILLIAMS COS INC 190,433 589,078
VIKING HOLDING LTD 433,272 760,017
WISDOMTREE JAPAN HEDGED EQ ETF 76,870 114,031
MERCADOLIBRE INC 375,450 328,324
SHARKNINJA INC 234,018 279,750
PROGRESSIVE CORP OHIO 530,354 478,212
COMFORT SYSTEMS USA INC 330,385 892,225
UBER TECHNOLOGIES INC 320,743 392,208
PUBLIC STORAGE REIT 100,531 99,750
VANGUARD S&P 500 ETF 96,142 95,951

TY 2025 InvestmentsGovtObligationsSch
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
US Government Securities - End of Year Book Value:

1,957,819
US Government Securities - End of Year Fair Market Value:

1,979,949
State & Local Government Securities - End of Year Book Value:


75,000
State & Local Government Securities - End of Year Fair Market Value:


74,867


TY 2025 InvestmentsOtherSchedule2
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AMERICAN TOWER CORP REIT AT COST 169,154 298,469

TY 2025 LegalFeesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 6,053 6,053   0


TY 2025 OtherExpensesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 28,638 28,638   0


TY 2025 OtherIncreasesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Description Amount
REALIZED GAINS 2,185,934
UNREALIZED GAINS 91,312


TY 2025 OtherProfessionalFeesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 190,689 190,689   0


TY 2025 TaxesSchedule
Name:
GALE FAMILY FOUNDATION
 
C/O GORDON HEINSON
EIN:
56-2676045
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 519 519   0