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
LLOYD K JOHNSON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 130 WEST SUPERIOR STREET SUITE 710
  Room/suite
City or town
DULUTH
State or province
MN
Country  
ZIP or foreign postal code
55802
A Employer identification number

51-0180842
B Telephone number (see instructions)

2187269000
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)$31,261,701J 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 185 185  
4 Dividends and interest from securities... 1,008,349 1,008,349  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,188,235
b Gross sales price for all assets on line 6a 14,923,879
7 Capital gain net income (from Part IV, line 2)... 1,188,235
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
288    
12 Total. Add lines 1 through 11........ 2,197,057 2,196,769  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 157,228 39,307   117,921
14 Other employee salaries and wages...... 157,414 24,736   74,206
15 Pension plans, employee benefits....... 32,939 8,235   24,704
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
10,410 2,603   7,807
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
122,912 117,414   5,498
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
27,590      
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
215    
20 Occupancy.............. 14,330 3,583   10,747
21 Travel, conferences, and meetings....... 12,842 3,211   9,631
22 Printing and publications.......... 2,394 599   1,795
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
48,797 12,201   36,596
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 587,071 211,889   288,905
25 Contributions, gifts, grants paid....... 2,745,657 2,745,657
26 Total expenses and disbursements. Add lines 24 and 25 ................ 3,332,728 211,889   3,034,562
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,135,671
b Net investment income (if negative, enter -0-) 1,984,880
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............. -16,680 1,071 1,071
2 Savings and temporary cash investments.........      
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.......... 5,290 4,096 4,096
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 31,050,668 Click to see attachment
List of Attached Documents:
// Content
31,234,492 		31,234,492
14 Land, buildings, and equipment: basis 34,475
Less: accumulated depreciation (attach schedule) 18,721 215 Click to see attachment
List of Attached Documents:
// Content
15,754 		15,754
15 Other assets (describe )   Click to see attachment
List of Attached Documents:
// Content
6,288 		Click to see attachment
List of Attached Documents:
// Content
6,288
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 31,039,493 31,261,701 31,261,701
Liabilities 17 Accounts payable and accrued expenses.......... 3,924 2,820
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 ) Click to see attachment
List of Attached Documents:
// Content
14,810 		 
23 Total liabilities (add lines 17 through 22)......... 18,734 2,820
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........... 31,020,759 31,200,409
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)..... 31,020,759 31,200,409
30 Total liabilities and net assets/fund balances (see instructions). 31,039,493 31,203,229
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
31,020,759
2
Enter amount from Part I, line 27a .....................
2
-1,135,671
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
1,315,321
4
Add lines 1, 2, and 3 ..........................
4
31,200,409
5
Decreases not included in line 2 (itemize)
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
31,200,409
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 NORTH SHORE BANK P    
b ULLAND INVESTMENTS P    
c ULLAND INVESTMENTS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 3,416,545   2,528,322 888,223
b 1,889,103   1,982,950 -93,847
c 9,266,549   9,224,372 42,177
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       888,223
b       -93,847
c       42,177
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 1,188,235
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 42,177
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 27,590
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  
3 Add lines 1 and 2........................... 3 27,590
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 27,590
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 33,878
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 33,878
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 6,288
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax6,288 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. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
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 addressLKJF.ORG
14
The books are in care ofERIK TORCH Telephone no. (218) 726-9000

Located at130 W SUPERIOR ST STE 710DULUTHMN ZIP+455802
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
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
 
 
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)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
ERIK TORCH EXECUTIVE DI
40.00 		157,228 4,717 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
LYNN GOERDT PRESIDENT
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
KIRSTEN CRUIKSHANK VICE PRESIDE
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
JEFF STODDARD TREASURER
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
ED CRAWFORD DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
CINDY HANSEN DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
PETE JERONIMUS DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
STEPHEN SURBAUGH DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
DOUG THOMPSON DIRECTOR
2.00 		0 0 0
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
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
ERICA KIRSCH PROGRAM OFFI
40.00 		58,472    
130 WEST SUPERIOR STREET SUITE 710
DULUTH,MN55802
Total number of other employees paid over $50,000...................  
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
NORTH SHORE INVESTMENTS & TRUST INVESTMENT 64,184
131 WEST SUPERIOR STREET
DULUTH,MN55802
ULLAND INVESTMENT ADVISORS INC INVESTMENT 51,397
4550 IDS CENTER
80 SOUTH 8TH STREET
MINNEAPOLIS,MN55402
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  
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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
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
31,436,754
b
Average of monthly cash balances.......................
1b
23,113
c
Fair market value of all other assets (see instructions)................
1c
9,422
d
Total (add lines 1a, 1b, and 1c).......................
1d
31,469,289
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
31,469,289
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
472,039
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
30,997,250
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,549,863
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
1,549,863
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
27,590
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
27,590
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,522,273
4
Recoveries of amounts treated as qualifying distributions................
4
288
5
Add lines 3 and 4............................
5
1,522,561
6
Deduction from distributable amount (see instructions) .................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,522,561
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
3,034,562
b
Program-related investments—total from Part VIII-B..................
1b
 
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
3,034,562
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 1,522,561
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023...... 360,104
e From 2024...... 124,737
f Total of lines 3a through e ........ 484,841
4Qualifying distributions for 2025 from Part
XI, line 4: $ 3,034,562
a Applied to 2024, 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 2025 distributable amount..... 1,522,561
e Remaining amount distributed out of corpus 1,512,001
5 Excess distributions carryover applied to 2025.    
(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 1,996,842
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		1,996,842
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 .... 360,104
d Excess from 2024 .... 124,737
e Excess from 2025 .... 1,512,001
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 e-mail address of the person to whom applications should be addressed:
ERIK TORCH
130 WEST SUPERIOR STREET
SUITE 520
DULUTH,MN55802
(218) 726-9000
bThe form in which applications should be submitted and information and materials they should include:
EMAIL OR CALL FOUNDATION STAFF TO DISCUSS PROPOSED APPLICATION. IF REQUEST FITS GUIDELINES ORGANIZATIONS SUBMIT APPLICATION FOR CONSIDERATION. ADDITIONAL INFORMATION MAY BE REQUESTED BY FOUNDATION.
cAny submission deadlines:
JANUARY 15, APRIL 15, JULY 15, AND OCTOBER 15 OF EACH GRANT YEAR.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION ACCEPTS APPLICATIONS FROM ORGANIZATIONS LOCATED OR PROVIDING SERVICES WITHIN LAKE, COOK, AND SOUTHERN ST. LOUIS COUNTIES IN MINNESOTA. THE FOUNDATION'S AREAS OF INTEREST INCLUDE ARTS AND CULTURE, COMMUNITY AND ECONOMIC DEVELOPMENT, EDUCATION, ENVIRONMENT, AND SOCIAL WELFARE.
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

DULUTH PUBLIC SCHOOLS ISD 709

709 PORTIA JOHNSON DRIVE
DULUTH,MN55811 		    COMMUNITY ENGAGEMENT OPPORTUNITIES F 500

TRANS NORTHLAND

16 1/2 N 1ST AVE W
STE 2
DULUTH,MN55802 		    TRANS NORTHLAND'S EFFORTS TO PROVIDE 500

DULUTH AREA FAMILY YMCA

PO BOX 3678
DULUTH,MN55803 		    A DULUTH YMCA CAMP MILLER RETREAT FO 750

REGENTS OF THE UNIVERSITY OF MINNES

NW 5957
PO BOX 1450
MINNEAPOLIS,MN55485 		    LAKE SUPERIOR SUMMIT ON TEACHING WRI 950

DULUTH CHILDREN'S MUSEUM INC

2125 W SUPERIOR STREET
DULUTH,MN55806 		    COMMUNITY-BUILDING, CULTURAL AWARENE 1,000

DULUTH NAACP

PO BOX 494
DULUTH,MN55801 		    IGNITE EMPOWER TRANSFORM'S ECONOMIC 1,000

UWS ALUMNI AND FRIENDS FOUNDATION

PO BOX 2000
SUPERIOR,WI54880 		    THE LIVE WELL INITIATIVE'S WELL-BEIN 1,550

PINCUSHION SKI AND RUN CLUB

PO BOX 542
GRAND MARAIS,MN55604 		    FACILITY UPDATES AND REPAIRS AT THE 1,800

HARTLEY NATURE CENTER

3001 WOODLAND AVENUE
DULUTH,MN55803 		    ADMINISTRATIVE COSTS AND STRENGTHEN 3,000

WILDWOODS

4009 W ARROWHEAD RD
DULUTH,MN55811 		    SOLAR PANEL PROJECT WHICH WILL PROVI 3,000

JOHN BEARGREASE SLED DOG MARATHON

PO BOX 16506
DULUTH,MN55816 		    INDIGENOUS ARTIST DESIGN, ON-TRAIL A 3,250

BOREALIS CHAMBER ARTISTS

PO BOX 3609
DULUTH,MN55803 		    ENVIRONMENTAL STEWARDSHIP THROUGH MU 3,500

COOK COUNTY HISTORICAL SOCIETY

PO BOX 1293
GRAND MARAIS,MN55604 		    AN INDIGENOUS-LED RESEARCH PROJECT S 3,500

DULUTH FOLK SCHOOL

1917 WEST SUPERIOR STREET
DULUTH,MN55806 		    THE DULUTH 101 FREE PUBLIC LECTURE S 3,500

DULUTH SUPERIOR AREA COMMUNITY FOUN

324 WEST SUPERIOR STREET
SUITE 700
DULUTH,MN55802 		    NONPROFITS UNITE PROJECT 3,500

JAM CONCERT SERIES INC

4023 EAST CALVARY ROAD
DULUTH,MN55803 		    OPPORTUNITIES FOR STUDENTS AND EDUCA 3,500

MATINEE MUSICALE INC

1346 WEST ARROWHEAD ROAD
305
DULUTH,MN55811 		    WORLD-CLASS CHAMBER MUSIC AND MUSIC 3,500

NORTHERN BEDROCK HISTORIC PRESERVAT

1205 93RD AVE W
DULUTH,MN55808 		    WORKFORCE DEVELOPMENT, CULTURAL HERI 3,500

GREAT EXPECTATIONS FOUNDATION

PO BOX 310
GRAND MARAIS,MN55604 		    FUNDRAISING EFFORTS WHICH WILL ALLOW 5,000

ARROWHEAD ECONOMIC OPPORTUNITY AGEN

702 S 3RD AVE
VIRGINIA,MN55792 		    THE AEOA VOLUNTEER SERVICES PROGRAM, 9,887

GREAT EXPECTATIONS SCHOOL

550 E 5TH ST
DULUTH,MN55805 		    THE SCHOOL'S SPECIALIST EDUCATION PR 10,000

NORTHWOODS VOLUNTEER CONNECTION

PO BOX 2113
TOFTE,MN55615 		    NVC'S VOLUNTEER PROGRAM IN FACILITAT 10,000

GIVEMN

200 SOUTHDALE CENTER SUIT
EDINA,MN55435 		    COHORT LEARNING AND 1:1 FUNDRAISING 12,000

NORTHWOOD CHILDREN'S SERVICES

720 N CENTRAL AVE N
DULUTH,MN55807 		    OUTDOOR RECREATIONAL ACTIVITIES FOR 15,000

PROPEL NONPROFITS

1 SE MAIN ST 600
MINNEAPOLIS,MN55414 		    LEADERSHIP DEVELOPMENT, MENTORSHIP I 15,000

SECOND HARVEST NORTHLAND

2302 COMMONWEALTH AVENUE
DULUTH,MN55808 		    FOOD ACCESS FOR LOW-INCOME FAMILIES 15,000

LIFEHOUSE

102 W 1ST ST
DULUTH,MN55802 		    THE FUTURES PROGRAM, WHICH PROVIDES 20,000

MEN AS PEACEMAKERS

123 W SUPERIOR ST
DULUTH,MN55802 		    MAP'S BEST (BE EQUAL SAFE AND TRUSTW 20,000

PAVSA

32 E 1ST STREET
SUITE 200
DULUTH,MN55802 		    SUPPORTIVE SERVICES WITHIN RESIDENTI 20,000

WE HEALTH CLINIC

32 E 1ST STREET
SUITE 300
DULUTH,MN55802 		    GENERAL OPERATING COSTS TO SUSTAIN A 20,000

HAWK RIDGE BIRD OBSERVATORY

PO BOX 3006
DULUTH,MN55803 		    THE CONSTRUCTION OF A PERMANENT ACCE 25,000

NORTH HOUSE FOLK SCHOOL

PO BOX 759
GRAND MARAIS,MN55604 		    COMMUNITY EVENT PLANNING AND COMMUNI 25,000

SAFE HAVEN SHELTER FOR BATTERED WOM

PO BOX 3558
DULUTH,MN55803 		    GENERAL OPERATING COSTS FOR COMPREHE 25,000

OLD MAPLE HILL CHURCH

90 COUNTY ROAD 60
GRAND MARAIS,MN55604 		    EXTERIOR RENOVATION AND PRESERVATION 35,000

AMERICAN INDIAN COMMUNITY HOUSING O

202 W 2ND STREET
DULUTH,MN55802 		    PROGRAMMING AND GENERAL OPERATIONS F 40,000

NATIONAL PARKS OF LAKE SUPERIOR FOU

420 SUMMIT AVE
ST PAUL,MN55102 		    AN INTERPRETIVE EXHIBIT AT THE NEW G 50,000

COOK COUNTY SCHOOLS- ISD 166

PO BOX 583
101 W 5TH STREET
GRAND MARAIS,MN55604 		    PLAYGROUND IMPROVEMENTS AND ADA-COMP 100,000

VAAJ XAUVKAUB FOUNDATION INC

10342 E LAKEVIEW RD
POPLAR,WI54864 		    THE TWIN PORTS HMONG NEW YEAR CELEBR 2,000

NORTH SHORE MUSIC ASSOCIATION

PO BOX 1376
GRAND MARAIS,MN55604 		    EXPANDED OFFERINGS AND INCREASED ACC 2,500

CHESTER BOWL IMPROVEMENT CLUB

1801 EAST SKYLINE PARKWAY
DULUTH,MN55812 		    A STRATEGIC PLANNING PROCESS TO MEET 3,500

KAKO FOUNDATION

1225 E 7TH STREET
DULUTH,MN55805 		    THE 'THAT'S A RAP' PROGRAM, WHICH PR 3,500

ROCKY WALL PRODUCTIONS

5418 ROCKY WALL RD
SILVER BAY,MN55614 		    THE SILVER BAY MUSIC IN THE PARK FRE 3,500

COOK COUNTY YMCA

105 WEST 5TH ST
GRAND MARAIS,MN55604 		    ACCESSIBILITY FOR ALL COOK COUNTY FO 5,000

FRIENDS OF THE BOUNDARY WATERS WILD

2550 UNIVERSITY AVE W
STE 180 S
ST PAUL,MN55114 		    NO BOUNDARIES TO THE BOUNDARY WATERS 10,000

KIDS CLOSET OF DULUTH

2431 W 3RD ST
DULUTH,MN55806 		    NEW SCHOOL AND OUTDOOR CLOTHING TO D 10,000

BOYS & GIRLS CLUB OF THE NORTHLAND

120 NORTH 30TH AVENUE WES
DULUTH,MN55806 		    OUT-OF-SCHOOL TIME PROGRAMMING FOR S 15,000

DULUTH COMMUNITY SCHOOL COLLABORATI

32 EAST FIRST ST
DULUTH,MN55802 		    ORGANIZATIONAL CAPACITY AND SUPPORT 15,000

LOCAL INITIATIVES SUPPORT CORP

SELLWOOD BUILDING 202 W
STE 301
DULUTH,MN55802 		    INCOME AND WEALTH-BUILDING PROGRAMS 15,000

SUPERIOR HIKING TRAIL ASSOCIATION

PO BOX 315
618 1ST AVE
TWO HARBORS,MN55616 		    VOLUNTEER COORDINATION, TRAINING, AN 15,000

THE NATURE CONSERVANCY

1101 WEST RIVER PARKWAY
SUITE 200
MINNEAPOLIS,MN55415 		    LAND RESTORATION WORK INCLUDING LARG 15,000

YWCA DULUTH

32 E 1ST STREET
SUITE 202
DULUTH,MN55802 		    THE DEVELOPMENT, IMPLEMENTATION, AND 15,000

DULUTH ART INSTITUTE ASSOCIATION

506 W MICHIGAN ST 2
DULUTH,MN55802 		    THE GENERAL OPERATIONS OF THE DAI, I 20,000

DULUTH PLAYHOUSE

211 EAST SUPERIOR STREET
DULUTH,MN55802 		    OPPORTUNITIES FOR CREATIVE EXPRESSIO 20,000

MINNESOTA LAND TRUST

2356 UNIVERSITY AVE W
SUITE 240
ST PAUL,MN55114 		    LAKE SUPERIOR HEADWATERS SUSTAINABIL 21,000

FOND DU LAC TRIBAL COMMUNITY COLLEG

2101 14TH ST
CLOQUET,MN55720 		    SCHOLARSHIPS 21,269

CARE PARTNERS OF COOK COUNTY

PO BOX 282 513 5TH AVE W
STE 106
GRAND MARAIS,MN55604 		    CARE PARTNERS' WORK TO PROVIDE GAP S 25,000

DULUTH SALVATION ARMY

215 S 27TH AVE W
DULUTH,MN55806 		    THE PLOVER PLACE PILOT HOUSING PROJE 25,000

GRAND MARAIS PLAYHOUSE INC

PO BOX 996
GRAND MARAIS,MN55604 		    OPPORTUNITIES FOR MEMBERS OF THE LOC 25,000

GUNFLINT TRAIL HISTORICAL SOCIETY

28 MOOSE POND DRIVE
GRAND MARAIS,MN55604 		    THE FINAL FABRICATION PHASE OF A NEW 25,000

WOLF RIDGE ENVIRONMENTAL LEARNING C

6282 CRANBERRY RD
FINLAND,MN55603 		    EDUCATIONAL PROGRAMS, STAFF TRAINING 25,000

ZEITGEIST CENTER FOR ARTS & COMMUNI

222 E SUPERIOR ST
STE 326
DULUTH,MN55802 		    PROGRAM COSTS FOR A FULL SEASON OF L 25,000

GRAND MARAIS ART COLONY

120 3RD AVE W
PO BOX 626
GRAND MARAIS,MN55604 		    OPPORTUNITIES FOR ARTS ACCESS AND AR 30,000

MENTOR NORTH

206 W 4TH ST
SUITE 203
DULUTH,MN55806 		    MENTOR NORTH'S ONE-ON-ONE, COMMUNITY 40,000

MINNESOTA NORTH COLLEGE

1001 CHESTNUT ST
VIRGINIA,MN55792 		    SCHOLARSHIPS 43,174

DIVINE KONNECTIONS INC

2122 WOODLAND AVE
DULUTH,MN55803 		    THE DEVELOPMENT AND IMPLEMENTATION O 50,000

MAJI YA CHAI LAND SANCTUARY

106 WATERFRONT DR
PO BOX 155
TWO HARBORS,MN55616 		    SECURITY AND INFRASTRUCTURE IMPROVEM 50,000

VIOLENCE PREVENTION CENTER

21 W 2ND ST
GRAND MARAIS,MN55604 		    GENERAL OPERATING COSTS TO SUSTAIN C 53,000

WTIP COOK COUNTY COMMUNITY RADIO

PO BOX 1005
GRAND MARAIS,MN55604 		    GENERAL OPERATING EXPENSES AS WTIP W 65,000

COOK COUNTY HIGHER EDUCATION

300 W 3RD ST
PO BOX 57
GRAND MARAIS,MN55604 		    TUITION SCHOLARSHIPS FOR COOK COUNTY 70,000

LAKE SUPERIOR COLLEGE

2101 TRINITY ROAD
DULUTH,MN55811 		    SCHOLARSHIPS 73,527

SAWTOOTH MOUNTAIN CLINIC

513 5TH AVE W
GRAND MARAIS,MN55604 		    NEW ELECTRONIC HEALTH RECORDS SYSTEM 130,000

GRAND PORTAGE BAND OF LAKE SUPERIOR

83 STEVENS ROAD
GRAND PORTAGE,MN55605 		    TO SUPPORT LAND RESTORATION COSTS FO 1,265,000
Total ................................. 3a 2,745,657
bApproved for future payment
Total ................................. 3b  
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 ........... 		    14 185  
4 Dividends and interest from securities ....     14 1,008,349  
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 1,188,235  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPRIOR YEAR GRANT RETURNED 		    41 288  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   2,197,057  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,197,057
(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:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BOOKKEEPING AND TAX PREPARATION 10,410 2,603   7,807

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

TY 2025 DepreciationSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
HP PROBOOK 450 2020-04-01 1,764 1,662 200DB 5.0000 102      
HP PROBOOK 430/RACHEL LAPTOP 2020-05-06 1,964 1,851 200DB 5.0000 113      

TY 2025 InvestmentsOtherSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
NORTH SHORE ACCT EQUITY MUTUAL FUNDS FMV 20,650,438 20,650,438
NORTH SHORE ACCT MONEY MARKET ACCOU FMV 757,631 757,631
ULLAND INVESTMENTS ACCOUNT FMV 9,793,701 9,793,701
NORTH SHORE ACCT ACCRUED INCOME FMV 8,628 8,628
ULLAND ACCT ACCRUED INCOME FMV 24,094 24,094

TY 2025 LandEtcSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
OFFICE FURNITURE & EQUIPMENT 20,416 18,721 1,695 1,695
LEASEHOLD IMPROVEMENTS 14,059   14,059 14,059


TY 2025 OtherAssetsSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
PREPAID FEDERAL EXCISE TAX   6,288 6,288


TY 2025 OtherExpensesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
DUES & MEMBERSHIPS 5,299 1,325   3,974
MISCELLANEOUS 317 79   238
INSURANCE 3,162 791   2,371
PARKING EXPENSE 2,470 618   1,852
PROMOTION & WEBSITE 6,451 1,613   4,838
OFFICE & POSTAGE 4,771 1,193   3,578
TELEPHONE EXPENSE 3,467 867   2,600
STAFF TRAINING 1,784 446   1,338
IT SERVICES 21,076 5,269   15,807


TY 2025 OtherIncomeSchedule2
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PRIOR YEAR GRANT RETURNED 288    


TY 2025 OtherIncreasesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Amount
UNREALIZED INVESTMENT GAINS 1,315,321


TY 2025 OtherLiabilitiesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Description Beginning of Year - Book Value End of Year - Book Value
FEDERAL EXCISE TAX PAYABLE 14,810  


TY 2025 OtherProfessionalFeesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY & CUSTODIAL 115,581 115,581    
LEGAL 6,138 1,535   4,603
OTHER CONSULTING 1,193 298   895


TY 2025 TaxesSchedule
Name:
LLOYD K JOHNSON FOUNDATION
EIN:
51-0180842
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 27,590