TY 2024 Form 990PF

- TIN:

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.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 07-01-2024 , and ending 06-30-2025

Name of foundation
THE JAMES J FIORENTINO FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)126 NORTH 1ST STREET
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55401

A Employer identification number

26-0376471

B Telephone number (see instructions)

(612) 208-9213

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$12,340,683J Accounting method: Cash Accrual
Other (specify)Modified Cash Basi
(Part I, column (d) must be on cash basis.)

	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)	0
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	257,193		161,811	257,193
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		84,075
b	Gross sales price for all assets on line 6a 311,178
7	Capital gain net income (from Part IV, line 2)...			84,075
8	Net short-term capital gain.........				1,709
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........	341,268		245,886	258,902
13	Compensation of officers, directors, trustees, etc.	179,840		17,984	0	161,856
14	Other employee salaries and wages......	95,260		0	0	95,260
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	36,419	0	0	36,419
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	35,795	17,898	0	17,897
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	61,970	57,320	0	4,650
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	25,056	0	0	21,773
19	Depreciation (attach schedule) and depletion...	List of Attached Documents: // Content	38,760	0	38,760
20	Occupancy..............	39,596		0	0	39,596
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	6,211	0	0	6,133
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	518,907		93,202	38,760	383,584
25	Contributions, gifts, grants paid.......	0				0
26	Total expenses and disbursements. Add lines 24 and 25	518,907		93,202	38,760	383,584
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-177,639
b	Net investment income (if negative, enter -0-)			152,684
c	Adjusted net income (if negative, enter -0-)...				220,142

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

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.............	15,937	57,497	57,497
	2	Savings and temporary cash investments.........	23,007	54,287	54,287
	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..............	10,191	10,264	10,264
	9	Prepaid expenses and deferred charges..........	3,000	10,447	10,447
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......	5,434,710	List of Attached Documents: // Content 4,795,483	4,795,483
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	5,430,482	List of Attached Documents: // Content 6,581,945	6,581,945
	14	Land, buildings, and equipment: basis 930,534
		Less: accumulated depreciation (attach schedule) 149,774	408,200	List of Attached Documents: // Content 780,760	780,760
	15	Other assets (describe )	List of Attached Documents: // Content 474,001	List of Attached Documents: // Content 50,000	List of Attached Documents: // Content 50,000
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	11,799,528	12,340,683	12,340,683
	17	Accounts payable and accrued expenses..........	6,525	10,749
	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).........	6,525	10,749
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	11,793,003	12,329,934
	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).....	11,793,003	12,329,934
	30	Total liabilities and net assets/fund balances (see instructions).	11,799,528	12,340,683

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

11,793,003

Enter amount from Part I, line 27a .....................

-177,639

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

714,570

Add lines 1, 2, and 3 ..........................

12,329,934

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

12,329,934

Form 990-PF (2024)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation
1 a	PUBLICLY TRADED SECURITIES
b	PUBLICLY TRADED SECURITIES
c	CAPITAL GAINS DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	239,311	203,995	35,316
b	24,817	23,108	1,709
c	47,050		47,050
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			35,316
b			1,709
c			47,050
d
e

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	84,075
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	1,709

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.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	2,122
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	2,122
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	2,122
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	1,801
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	5,000
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	6,801
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		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	4,679
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax4,679	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Yes

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

JEFF WEEKS Telephone no. right arrow

(612) 208-9213

Located at right arrow

126 NORTH 1ST STREETMINNEAPOLISMN ZIP+4 right arrow

55401

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow

Form 990-PF (2024)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

Yes

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2024? .............

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)):

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

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

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2024.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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-)
JEFF WEEKS	PRESIDENT & TRUSTEE 33.00	123,040
126 NORTH 1ST STREET MINNEAPOLIS,MN55401	PRESIDENT & TRUSTEE 33.00	123,040
ANGIE WEEKS	TREASURER & SECRETARY 8.00	54,400
126 NORTH 1ST STREET MINNEAPOLIS,MN55401	TREASURER & SECRETARY 8.00	54,400
BRAD MYRVOLD	TRUSTEE 2.00	2,400
126 NORTH 1ST STREET MINNEAPOLIS,MN55401	TRUSTEE 2.00	2,400

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
ROBERT ANDRES	OPERATIONS MANAGER 47.00	118,600	0	0
126 NORTH 1ST STREET MINNEAPOLIS,MN55401	OPERATIONS MANAGER 47.00	118,600	0	0








Total number of other employees paid over $50,000...................				0

Form 990-PF (2024)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	THE JAMES J. FIORENTINO FOUNDATION EXISTS AND OPERATES TO SAFEGUARD AND SHOWCASE ITS HISTORICAL COLLECTION OF CUCKOO CLOCKS, OTHER CLOCKS, VINTAGE MUSICAL ARTIFACTS AND INTRIGUING COLLECTIBLES. THE FOUNDATION ALSO OPERATES WITH THE OBJECTIVE OF ADVANCING GENERAL KNOWLEDGE OF RELATED TOPICS, INCLUDING EDUCATION AND POPULAR INSTRUCTION. THE MUSEUM SEEKS TO INSPIRE APPRECIATION FOR ITS PORTFOLIO OF DISPLAYED ITEMS, INCLUDING THE HUMAN CRAFTSMANSHIP GIVING RISE TO SAME, WHILE CONCURRENTLY HONORING THE VISION OF ITS FOUNDER, JAMES J. FIORENTINO. THE FOUNDATION HAS ALSO CATALOGUED AND RESEARCHED THE CURRENTLY EXISTING COLLECTION, AND THOSE EFFORTS CONTINUE. THE FOUNDATION OFFERS EDUCATIONAL OPPORTUNITIES AND ALSO UTILIZES MUSEUM STUDIES STUDENTS OR GRADUATES TO HELP MEET THAT OBJECTIVE. THE MUSEUM RENOVATIONS CREATE A SAFE AND WELCOMING SPACE FOR VISITORS AS WELL AS PRESERVING THE PHYSICAL ITEMS FOR THE ENJOYMENT AND EDUCATION OF PATRONS FOR YEARS TO COME.	329,268
2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

10,973,155

Average of monthly cash balances.......................

223,339

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

11,196,494

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,196,494

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

167,947

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

11,028,547

Minimum investment return. Enter 5% (0.05) of line 5................

551,427

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part IX, line 6..................

Tax on investment income for 2024 from Part V, line 5 .......

Income tax for 2024. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

383,584

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

383,584

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2024:
a From 2019......
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........
4Qualifying distributions for 2024 from Part
XI, line 4: $
a Applied to 2023, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2024 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2024.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2019 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....

Form 990-PF (2024)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow

2007-05-11

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

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
	220,142	229,067	247,206	126,296	822,711
b 85% (0.85) of line 2a .........	187,121	194,707	210,125	107,352	699,304
c Qualifying distributions from Part XI, line 4 for each year listed .....	383,584	376,964	492,519	652,642	1,905,709
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........	0	0	0	0	0
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	383,584	376,964	492,519	652,642	1,905,709
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	12,340,683	11,813,778	11,054,344	10,747,868	45,956,673
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)	980,534	965,842	915,278	831,207	3,692,861
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..	367,618	342,152	329,755	84,197	1,123,722
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) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

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 right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2024)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year

Total ................................. 3a				0

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(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	257,193
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	84,075
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INCOME			01
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		341,268	0

13Total. Add line 12, columns (b), (d), and (e)..................

341,268

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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.)

Form 990-PF (2024)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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. Yes No
	Signature of officer or trustee	Date	Title

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.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	35,795	17,898	0	17,897

- TIN:

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

TY 2024 DepreciationSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
BUILDING	2017-06-30	251,667	54,692	ADS	40.000000000000	6,292	6,292
LEASEHOLD IMPROVEMENTS	2017-06-30	24,648	4,338	ADS	40.000000000000	616	616
LEASEHOLD IMPROVEMENTS	2020-06-12	43,300	11,593	ADS	15.000000000000	2,887	2,887
LEASEHOLD IMPROVEMENTS	2021-01-04	30,584	2,711	SL	39.000000000000	784	784
LEASEHOLD IMPROVEMENTS	2023-09-22	15,463		150DB	15.000000000000	1,546	1,031
LEASEHOLD IMPROVEMENTS	2023-09-22	5,000		150DB	15.000000000000	500	333
LEASEHOLD IMPROVEMENTS	2023-09-22	3,060		150DB	15.000000000000	306	204
EXHIBITS	2022-06-02	190		150DB	15.000000000000	19	13
PURCHASE TERMINAL	2022-05-09	323	158	200DB	7.000000000000	47	46
MUSEUM DECOR	2023-03-17	140	11	200DB	7.000000000000	5	20
MUSEUM FURNITURE	2022-11-25	35,275		200DB	7.000000000000	0	5,039
FURNITURE & EQUIPMENT	2023-10-01	2,564	73	200DB	7.000000000000	126	366
EXHIBITS	2023-09-29	48,000		150DB	15.000000000000	4,800	3,200
LEASEHOLD IMPROVEMENTS	2024-12-31	353,328		150DB	15.000000000000	17,666	11,778
FENCE ADDITION	2024-11-08	11,821		150DB	15.000000000000	591	525
SHELVING	2024-10-02	2,871		200DB	7.000000000000	410	308
LAND	2024-12-31	59,000		L		0	0
LAND IMPROVEMENTS	2024-12-31	43,300		150DB	15.000000000000	2,165	1,443

- TIN:

TY 2024 GeneralExplanationAttachment

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Identifier	Return Reference	Explanation
	FORM 990-PF, PART VII, LINE 1	FOUNDATION PRESIDENT AND TRUSTEE JEFF WEEKS PROVIDED FULL-TIME SERVICE TO THE FOUNDATION, BUT FOR DONATIVE PURPOSES, WAS COMPENSATED AT 25 HOURS PER WEEK. ANGIE WEEKS SERVED AS TRUSTEE, TREASURER AND SECRETARY OF THE FOUNDATION, AND IN THAT ROLE, PROVIDED AT LEAST 8 HOURS PER WEEK OF SERVICE TO THE FOUNDATION ON A DONATIVE BASIS, I.E. SHE WAS NOT COMPENSATED FOR THAT TIME.

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES DTD 3/15/2017	24,961	24,961
AT&T INC DTD 2/9/2017	24,973	24,973
BAKER HUGHES A GE CO LLC	23,832	23,832
BOOKING HOLDINGS INC	24,842	24,842
BRISTOL-MYERS SQUIBB CO	49,769	49,769
BURLINGTON NORTHERN SANTA FE LLC 6.53% 15 JUL 2037	2,232	2,232
BURLINGTON NORTHERN SANTA FE LLC 6.7% 01 AUG 2028	1,067	1,067
COLORADO ST HSG & FIN AUTH TXBL-SUSTAINABLE BOND-CLASS I- 16 OCT 2024 6% 01	10,684	10,684
CONOCOPHILLIPS CO 5% 15 JAN 2035	34,974	34,974
CONSTELLATION BRANDS INC 4.9% 01 MAY 2033	39,639	39,639
DICK'S SPORTING GOODS INC 1/15/2032	31,373	31,373
DIGITAL REALTY TRUST	24,235	24,235
DODGE & COX INCOME FUND	259,904	259,904
ELI & LILLY & CO	10,095	10,095
EQUINIX INC 3.2% 18 NOV 2029	1,898	1,898
FEDERAL FARM CREDIT BANK 5/11/2033	4,943	4,943
FEDERAL FARM CREDIT BANK 9/22/2028	5,031	5,031
FEDERAL FARM CREDIT BANK 2/18/2031	8,684	8,684
FEDERAL FARM CREDIT BANK 2/28/2028	20,324	20,324
FEDERAL FARM CREDIT BANK 8/12/2026	49,949	49,949
FEDERAL FARM CREDIT BANK 4/16/2032	40,012	40,012
FEDERAL FARM CREDIT BANK 5/02/2031	5,204	5,204
FEDERAL HOME LOAN BANK 4/02/2029	25,100	25,100
FEDERAL HOME LOAN BANK 11/20/2030	10,019	10,019
FEDERAL HOME LOAN BANK 10/14/2032	24,509	24,509
FEDERAL HOME LOAN BANK 2/25/2027	24,159	24,159
FEDERAL HOME LOAN BANK 12/10/2027	48,557	48,557
FEDERAL HOME LOAN BANK 11/16/2028	24,659	24,659
FEDERAL HOME LOAN BANK 4/21/2032	4,816	4,816
FEDERAL HOME LOAN BANK 9/11/2034	5,835	5,835
FEDERAL HOME LOAN BANK 4/21/2032	19,965	19,965
FEDERAL HOME LOAN BANK 3/25/2031	25,126	25,126
FEDERAL HOME LOAN BANK 6/12/2035	15,214	15,214
FEDERAL HOME LOAN BANK 8/28/2031	9,979	9,979
FEDERAL HOME LOAN BANK 9/27/2033	25,766	25,766
FEDERAL HOME LOAN BANK 2/24/2034	50,368	50,368
FEDERAL HOME LOAN BANK 2/27/2029	10,023	10,023
FEDERAL HOME LOAN BANK CON 9/17/2031	24,384	24,384
FIDELITY MINNESOTA MUNICIPAL INCOME	1,124,792	1,124,792
FIDELITY ST BOND INDEX FUND	235,042	235,042
GLENCOE MN 5/20/2015	400,196	400,196
HONEYWELL INC	24,376	24,376
JPMORGAN CHASE & CO 5.5% 15 OCT 2040	2,042	2,042
ISHARES FLOATING RATE BOND ETF	96,938	96,938
KEURIG DR.PEPPER INC	40,306	40,306
LA CRESCENT MN CROSSOVER -UTIL--REF-SER 9/15/2015	89,591	89,591
MERCK & CO INC 5/17/2028	4,018	4,018
MICROSOFT CORP	34,780	34,780
MINNETONKA MN REF-UTIL-SER A 7/6/2016	380,792	380,792
NORTHERN TRUST CORP 5/10/2027	12,984	12,984
NORTHERN IOWA ST. AREA CMNTY CLG 6/1/2027	5,100	5,100
ORACLE CORP 4.5% 06 MAY 2028	25,148	25,148
PAYPAL HOLDINGS INC 10/1/2029	23,588	23,588
PHILLIPS 66 4.65% 15 NOV 2034	74,453	74,453
PPG INDUSTRIES INC. 6/15/2030	22,773	22,773
PPG INDUSTRIES INC. 3/15/2028	19,760	19,760
RALPH LAUREN CORP 9/15/2025	44,849	44,849
RICE CNTY MN REF-CAPITAL IMPT-SER-A 2/1/2029	376,084	376,084
TORO CO/THE 6.625% 01 MAY 2037	98,527	98,527
TORO CO/THE 7.8% 15 JUN 2027	3,178	3,178
TRANE TECHNOLOGIES CO	2,053	2,053
UBER TECHNOLOGIES INC 4.8% 15 SEP 2034	14,726	14,726
UNITED STATES TREASURY NOTE/BOND 3.875% 31 DEC 2027	15,063	15,063
UNITED STATES TREASURY NOTE/BOND 5% 31 AUG 2025	10,006	10,006
VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES	276,484	276,484
VMWARE LLC 4.7% 15 MAY 2030	15,042	15,042
WESTERN ASSET CORE BOND FUND	234,388	234,388
WRKCO INC 4.2% 01 JUN 2032	41,300	41,300

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AB LARGE CAP GROWTH FUND	FMV	118,822	118,822
AMAZON.COM INC	FMV	131,634	131,634
BNY MELLONG EQUITY INC FUND	FMV	156,529	156,529
CUMMINS INC	FMV	119,538	119,538
DODGE & COX STOCK FUND	FMV	384,018	384,018
DOMINION RESOURCES INC/VA	FMV	45,216	45,216
FIDELITY OVERSEAS FUND FOSFX	FMV	153,641	153,641
FIDELITY SMALL CAP GROWTH INDEX FUND	FMV	42,264	42,264
FMI INTERNATIONAL FUND	FMV	144,943	144,943
HONEYWELL INTERNATIONAL INC	FMV	64,042	64,042
ISHARES CORE DIVIDEND GROWTH ETF	FMV	102,304	102,304
ISHARES CORE S&P 500 ETF	FMV	1,303,890	1,303,890
JPMORGAN MID CAP VALUE FUND	FMV	107,962	107,962
MFS MID CAP GROWTH FUND	FMV	103,360	103,360
RBC EMERGING MARKETS EQUITY FUND/USA	FMV	87,372	87,372
SPDR S&P 500 ETF TRUST	FMV	1,309,842	1,309,842
VALUE LINE MID CAP FOCUSED FUND INC	FMV	337,488	337,488
VANGAURD 500 INDEX FUND-ADM VFIAX	FMV	470,589	470,589
VANGUARD S&P 500 ETF	FMV	1,317,830	1,317,830
WALT DISNEY CO/THE	FMV	40,923	40,923
WILLIAM BLAIR SMALL CAP VALUE FUND	FMV	39,738	39,738

- TIN:

TY 2024 LandEtcSchedule2

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
BUILDING	251,667	60,984	190,683
LEASEHOLD IMPROVEMENTS	24,648	4,954	19,694
LEASEHOLD IMPROVEMENTS	43,300	14,480	28,820
LEASEHOLD IMPROVEMENTS	30,584	3,495	27,089
LEASEHOLD IMPROVEMENTS	15,463	1,546	13,917
LEASEHOLD IMPROVEMENTS	5,000	500	4,500
LEASEHOLD IMPROVEMENTS	3,060	306	2,754
EXHIBITS	190	19	171
PURCHASE TERMINAL	323	205	118
MUSEUM DECOR	140	128	12
MUSEUM FURNITURE	35,275	35,275	0
FURNITURE & EQUIPMENT	2,564	2,250	314
EXHIBITS	48,000	4,800	43,200
LEASEHOLD IMPROVEMENTS	353,328	17,666	335,662
FENCE ADDITION	11,821	591	11,230
SHELVING	2,871	410	2,461
LAND	59,000	0	59,000
LAND IMPROVEMENTS	43,300	2,165	41,135

- TIN:

TY 2024 LegalFeesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	36,419	0	0	36,419

- TIN:

TY 2024 OtherAssetsSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
DEPOSIT WITH LEGAL COUNSEL	27,373	0	0
CONSTRUCTION IN PROGRESS	446,628	50,000	50,000

- TIN:

TY 2024 OtherExpensesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
OFFICE EXPENSES	3,073	3,073
MISCELLANEOUS	2,762	2,684
ADVERTISING	350	350
MN AG	26	26

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Description	Amount
UNREALIZED GAIN ON INVESTMENTS	714,570

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
CONSULTING FEES	4,650	0	0	4,650
BROKER FEES	57,320	57,320	0	0

- TIN:

TY 2024 TaxesSchedule

Name:

THE JAMES J FIORENTINO FOUNDATION

EIN:

26-0376471

Category	Amount	Disbursements for Charitable Purposes
PAYROLL TAXES	20,494	20,494
FEDERAL TAXES	3,283	0
PROPERTY TAX	1,279	1,279