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
HELEN GOUGH FDN TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 64193
  Room/suite
City or town
EAGAN
State or province
MN
Country  
ZIP or foreign postal code
55164
A Employer identification number

45-6014772
B Telephone number (see instructions)

8882657962
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)$12,593,830J 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      
4 Dividends and interest from securities... 205,992 200,510  
5a Gross rents............ 2,119,127 2,119,127  
b Net rental income or (loss) 1,304,139
6a Net gain or (loss) from sale of assets not on line 10 189,746
b Gross sales price for all assets on line 6a 3,058,565
7 Capital gain net income (from Part IV, line 2)... 189,746
8 Net short-term capital gain......... 0
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
215 215  
12 Total. Add lines 1 through 11........ 2,515,080 2,509,598  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,232 83,009   9,223
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,650 0 0 1,650
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
7,047 3,457   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 348 0 0 348
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
814,988 814,988    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 916,265 901,454 0 11,221
25 Contributions, gifts, grants paid....... 449,541 449,541
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,365,806 901,454 0 460,762
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,149,274
b Net investment income (if negative, enter -0-) 1,608,144
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 61,863 96,372 96,372
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
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 0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 745,549 Click to see attachment
List of Attached Documents:
// Content
977,313 		1,664,564
c Investments—corporate bonds (attach schedule)....... 79,326    
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,902,608 Click to see attachment
List of Attached Documents:
// Content
4,879,240 		10,828,830
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
5,488 		Click to see attachment
List of Attached Documents:
// Content
4,064 		Click to see attachment
List of Attached Documents:
// Content
4,064
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,794,834 5,956,989 12,593,830
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 4,794,834 5,956,989
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)..... 4,794,834 5,956,989
30 Total liabilities and net assets/fund balances (see instructions). 4,794,834 5,956,989
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
4,794,834
2
Enter amount from Part I, line 27a .....................
2
1,149,274
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
16,000
4
Add lines 1, 2, and 3 ..........................
4
5,960,108
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
3,119
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
5,956,989
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 2. ALBEMARLE CORP   2024-09-10 2025-02-03
b 123. ALBEMARLE CORP   2019-12-24 2025-02-03
c 23. AMAZON.COM INC   2018-03-26 2025-02-03
d 247. CENTENE CORP COM   2019-09-19 2025-02-03
e 1. EDWARDS LIFESCIENCES CORP COM   2024-09-10 2025-02-03
128. EDWARDS LIFESCIENCES CORP COM   2018-03-26 2025-02-03
47. J P MORGAN CHASE & CO   2020-07-10 2025-02-03
27. MICROSOFT CORP   2020-05-04 2025-02-03
88. NEXTERA ENERGY INC   2022-02-17 2025-02-03
50. SALESFORCE INC   2020-03-06 2025-02-03
42. VERTIV HOLDINGS CO   2024-06-18 2025-02-03
137. WAL MART STORES INC   2018-03-26 2025-02-03
1. MOHAWK INDS INC COM   1911-11-11 2025-03-03
86. BANK OF AMERICA CORP   2023-07-06 2025-03-06
307. ISHARES MSCI EAFE VALUE ETF   2024-02-14 2025-03-06
346. ISHARES CORE MSCI EAFE ETF   2021-03-01 2025-03-06
131. ISHARES CORE MSCI EMERGING MKTS ETF   2021-11-03 2025-03-06
21. LULULEMON ATHLETICA INC   2024-06-18 2025-03-06
15. LULULEMON ATHLETICA INC   2022-08-17 2025-03-06
803. PGIM TOTAL RETURN BOND CL R6   2024-08-29 2025-03-06
113. SCHLUMBERGER LTD   2024-05-23 2025-03-06
128. TARGET CORP   2020-03-06 2025-03-06
134. UBER TECHNOLOGIES INC   2023-03-09 2025-03-06
23. VEEVA SYSTEMS INC-CLASS A   2024-10-16 2025-03-06
111. ZILLOW GROUP INC   2024-05-23 2025-03-06
5. ADOBE SYS INC   2024-05-23 2025-04-30
26. ALPHABET INC CL A   2025-03-06 2025-04-30
24. AMAZON.COM INC   2025-03-06 2025-04-30
4. AMAZON.COM INC   2018-03-26 2025-04-30
908.352 AMERICAN BEACON STEPHENS MID CAP GR   2024-06-18 2025-04-30
5240.242 AMERICAN BEACON STEPHENS MID CAP GR   2020-03-06 2025-04-30
31. APPLE COMPUTER INC   2025-03-06 2025-04-30
44. BANK OF AMERICA CORP   2023-07-06 2025-04-30
13. DANAHER CORP   2024-12-04 2025-04-30
29. DRAFTKINGS INC NEW   2024-06-18 2025-04-30
244. EXACT SCIENCES CORPORATION   2025-02-03 2025-04-30
6. META PLATFORMS INC   2025-03-06 2025-04-30
6. HOME DEPOT INC   2025-03-06 2025-04-30
1. INTUIT COM   2020-05-04 2025-04-30
10. ISHARES CORE S P 500 ETF   2023-01-04 2025-04-30
606. ISHARES 20 YEAR TREASURY BOND ETF   2024-10-16 2025-04-30
113. ISHARES RUSSELL MIDCAP VALUE ETF   2025-03-06 2025-04-30
1705. ISHARES RUSSELL MIDCAP VALUE ETF   2019-09-19 2025-04-30
700. ISHARES RUSSELL MID CAP ETF   2020-03-06 2025-04-30
232. ISHARES RUSSELL MID CAP ETF   2025-03-06 2025-04-30
2409. ISHARES RUSSELL MID CAP ETF   2020-07-10 2025-04-30
139. ISHARES RUSSELL 2000 ETF   2025-02-03 2025-04-30
984. ISHARES RUSSELL 2000 ETF   2020-07-10 2025-04-30
56. ISHARES MSCI EAFE VALUE ETF   2021-03-01 2025-04-30
23. ISHARES CORE MSCI EAFE ETF   2024-02-14 2025-04-30
34608.141 WESTERN ASSET INCOME IS   2024-12-04 2025-04-30
1. MERCADOLIBRE INC   2025-03-06 2025-04-30
14. MICROSOFT CORP   2024-09-10 2025-04-30
15. MICRON TECHNOLOGY INC   2025-03-06 2025-04-30
1. NEXTERA ENERGY INC   2022-06-16 2025-04-30
60. NVIDIA CORP COM   2024-08-29 2025-04-30
81. PALO ALTO NETWORKS INC   2022-06-16 2025-04-30
124. SCHLUMBERGER LTD   2024-05-23 2025-04-30
75. SCHLUMBERGER LTD   2024-02-14 2025-04-30
31. SCHWAB CHARLES CORP   2024-02-14 2025-04-30
2. SERVICENOW INC   2022-05-05 2025-04-30
20. BLOCK INC   2025-02-03 2025-04-30
4. SYNOPSYS INC   2025-02-03 2025-04-30
4. TALEN ENERGY CORP COM   2025-03-06 2025-04-30
21. TRADE DESK INC THE CLASS A   2024-05-23 2025-04-30
33. UBER TECHNOLOGIES INC   2023-03-09 2025-04-30
5. VEEVA SYSTEMS INC-CLASS A   2024-05-23 2025-04-30
25. VERTIV HOLDINGS CO   2024-06-18 2025-04-30
1. WAL MART STORES INC   2018-03-26 2025-04-30
5. EATON CORP PLC SHS   2024-08-29 2025-04-30
75000. QUALCOMM INC 3.450% 5/20/25   2019-12-24 2025-05-20
2809.259 ANGEL OAK MULTI STRATEGY INCOME   2024-12-04 2025-06-30
4281.325 ANGEL OAK MULTI STRATEGY INCOME   2023-07-27 2025-06-30
1451.912 ANGEL OAK MULTI STRATEGY INCOME   2024-08-29 2025-06-30
14286.959 ANGEL OAK MULTI STRATEGY INCOME   2021-04-25 2025-06-30
2556. ISHARES CORE U.S. AGGREGATE BOND ETF   2025-04-30 2025-06-30
91. ISHARES 20 YEAR TREASURY BOND ETF   2024-12-04 2025-06-30
558. ISHARES 20 YEAR TREASURY BOND ETF   2023-02-13 2025-06-30
2. MARATHON PETROLEUM CORP   2024-09-10 2025-06-30
68. MARATHON PETROLEUM CORP   2024-06-18 2025-06-30
3389.988 PGIM TOTAL RETURN BOND CL R6   2024-08-29 2025-06-30
17872.82792 PGIM TOTAL RETURN BOND CL R6   2020-08-28 2025-06-30
5731.18408 PGIM TOTAL RETURN BOND CL R6   2020-08-16 2025-06-30
218. SCHLUMBERGER LTD   2024-02-14 2025-06-30
107. SCHWAB CHARLES CORP   2023-06-24 2025-06-30
6466. STONE RIDGE HY REINSUR-I   2024-08-29 2025-06-30
6. SYNOPSYS INC   2025-02-03 2025-06-30
17. VEEVA SYSTEMS INC-CLASS A   2024-05-23 2025-06-30
4. VERTIV HOLDINGS CO   2024-08-29 2025-06-30
39. VERTIV HOLDINGS CO   2024-06-18 2025-06-30
1156. ISHARES CORE U.S. AGGREGATE BOND ETF   2025-04-30 2025-07-29
2731. ISHARES CORE U.S. AGGREGATE BOND ETF   2022-08-17 2025-07-29
14. ADOBE SYS INC   2025-02-03 2025-09-11
46. ADOBE SYS INC   2022-05-05 2025-09-11
31. DRAFTKINGS INC NEW   2025-03-06 2025-10-16
557. DRAFTKINGS INC NEW   2024-05-23 2025-10-16
248. BLOCK INC   2025-02-03 2025-10-16
273. COPART INC COM   2020-05-04 2025-12-19
5225. SCHWAB U S TIPS ETF   2025-07-29 2025-12-19
258. TRADE DESK INC THE CLASS A   2025-03-06 2025-12-19
157. TRADE DESK INC THE CLASS A   2024-02-14 2025-12-19
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(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 160   155 5
b 9,862   12,245 -2,383
c 5,464   1,759 3,705
d 16,011   14,643 1,368
e 72   67 5
9,216   8,417 799
12,523   4,496 8,027
11,115   6,084 5,031
6,251   6,376 -125
16,929   8,011 8,918
4,698   3,894 804
13,608   4,841 8,767
36     36
3,538   2,434 1,104
18,189   15,570 2,619
26,813   24,175 2,638
7,169   8,038 -869
7,404   6,570 834
5,289   4,875 414
9,660   9,785 -125
4,449   5,272 -823
14,603   13,888 715
10,179   4,369 5,810
5,485   5,013 472
8,095   4,479 3,616
1,846   2,431 -585
4,062   4,486 -424
4,331   4,826 -495
722   306 416
33,100   34,013 -913
190,954   140,511 50,443
6,505   7,283 -778
1,734   1,245 489
2,573   3,054 -481
949   1,235 -286
11,012   13,568 -2,556
3,220   3,797 -577
2,132   2,312 -180
619   266 353
5,501   4,197 1,304
54,344   57,055 -2,711
13,720   14,347 -627
207,015   156,974 50,041
58,193   37,128 21,065
19,287   20,021 -734
200,267   151,221 49,046
26,856   29,250 -2,394
190,119   162,395 27,724
3,403   2,814 589
1,803   1,603 200
172,695   175,108 -2,413
2,256   2,079 177
5,433   5,595 -162
1,122   1,353 -231
66   72 -6
6,337   7,303 -966
15,006   6,337 8,669
4,049   5,712 -1,663
2,449   3,570 -1,121
2,492   1,941 551
1,886   939 947
1,143   1,800 -657
1,808   2,088 -280
857   736 121
1,111   1,817 -706
2,618   1,076 1,542
1,149   1,078 71
2,084   2,318 -234
97   29 68
1,440   1,530 -90
75,000   79,326 -4,326
24,356   24,160 196
37,119   36,074 1,045
12,588   12,674 -86
123,868   135,857 -11,989
253,367   253,053 314
8,029   8,559 -530
49,231   56,506 -7,275
331   324 7
11,260   11,726 -466
40,815   41,055 -240
215,189   233,605 -18,416
69,003   84,610 -15,607
7,357   10,378 -3,021
9,695   5,977 3,718
57,030   58,340 -1,310
3,062   3,132 -70
4,847   3,501 1,346
514   329 185
5,009   3,616 1,393
113,830   114,448 -618
268,919   273,972 -5,053
4,923   6,233 -1,310
16,175   19,312 -3,137
1,085   1,276 -191
19,489   21,733 -2,244
18,548   18,597 -49
10,659   11,994 -1,335
138,215   139,325 -1,110
9,630   17,944 -8,314
5,860   11,518 -5,658
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      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
      15,382
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       5
b       -2,383
c       3,705
d       1,368
e       5
      799
      8,027
      5,031
      -125
      8,918
      804
      8,767
      36
      1,104
      2,619
      2,638
      -869
      834
      414
      -125
      -823
      715
      5,810
      472
      3,616
      -585
      -424
      -495
      416
      -913
      50,443
      -778
      489
      -481
      -286
      -2,556
      -577
      -180
      353
      1,304
      -2,711
      -627
      50,041
      21,065
      -734
      49,046
      -2,394
      27,724
      589
      200
      -2,413
      177
      -162
      -231
      -6
      -966
      8,669
      -1,663
      -1,121
      551
      947
      -657
      -280
      121
      -706
      1,542
      71
      -234
      68
      -90
      -4,326
      196
      1,045
      -86
      -11,989
      314
      -530
      -7,275
      7
      -466
      -240
      -18,416
      -15,607
      -3,021
      3,718
      -1,310
      -70
      1,346
      185
      1,393
      -618
      -5,053
      -1,310
      -3,137
      -191
      -2,244
      -49
      -1,335
      -1,110
      -8,314
      -5,658
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 189,746
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 22,353
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 22,353
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 22,353
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 4,269
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,269
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 18,084
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax0 Refunded 11 0
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)
ND
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 address  
14
The books are in care ofUS BANK NA Telephone no. (888) 265-7962

Located at60 LIVINGSTON AVESAINT PAULMN ZIP+455107
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
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
Yes
 
(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
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
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
MARTHA HUNTER FOUNDATION MANAGER
1 		5,000    
PO BOX 476
NEWTON,ND58763
US BANK N A TRUSTEE
1 		87,232    
PO BOX 64193
EAGAN,MN55164
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
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.........................  
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
9,985,634
b
Average of monthly cash balances.......................
1b
228,170
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
10,213,804
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
10,213,804
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
153,207
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
10,060,597
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
503,030
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
503,030
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
22,353
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
22,353
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
480,677
4
Recoveries of amounts treated as qualifying distributions................
4
16,000
5
Add lines 3 and 4............................
5
496,677
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
496,677
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
460,762
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
460,762
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 7 496,677
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 439,451
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 0
b From 2021...... 0
c From 2022...... 0
d From 2023...... 0
e From 2024...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 460,762
a Applied to 2024, but not more than line 2a 439,451
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 21,311
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		475,366
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
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:
MARTHA HUNTER DIR HIGHER EDUCATION
404 FRONTAGE RD
NEW TOWN,ND58763
(701) 627-4112
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS CAN BE OBTAINED BY CONTACTING THE LOCAL SCHOOL COUNSELOR'S OFFICE
cAny submission deadlines:
JUNE 1ST
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
PRIMARILY FOR ENROLLED MEMBERS OF THE THREE AFFILLIATED TRIBES OF THE FORT BERTHHOLD RESERVATION, NORTH DAKOTA
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

UNIVERSITY OF KANSAS

1502 IOWA ST
LAWRENCE,KS66045 		NONE   SCHOLARSHIPS 10,000

UNIVERSITY OF OREGON

1585 E 13TH AVE
EUGENE,OR97403 		NONE   SCHOLARSHIPS 20,000

CAREER NETWORK INSTITUTE

1610 E ST ANDREW PL
SANTA ANA,CA927054941 		NONE   SCHOLARSHIPS 8,000

IHANKTONWAN COMMUNITY COLLEGE

PO BOX 295
MARTY,SD57361 		NONE   SCHOLARSHIPS 6,000

UNIVERSITY OF NORTH DAKOTA

3501 UNIVERSITY AVE
GRAND FORKS,ND58202 		NONE   SCHOLARSHIPS 32,000

GENESEE COMMUNITY COLLEGE

1 COLLEGE RD
BATAVIA,NY14020 		NONE   SCHOLARSHIPS 8,000

CENTRAL WASHINGTON UNIVERSITY

400 E UNIVERSITY WAY
ELLENSBURG,WA98926 		NONE   SCHOLARSHIPS 10,000

BISMARCK STATE COLLEGE

1500 E EDWARDS AVE
BISMARCK,ND58506 		NONE   SCHOLARSHIPS 16,000

THE UNIVERSITY OF NEW MEXICO

MSC 11 6315 1 UNM
ALBUQUERQUE,NM87131 		NONE   SCHOLARSHIPS 10,000

UNIVERSITY OF WISCONSIN MILWAUKEE

2442 E KENWOOD BLVD
MILWAUKEE,WI53211 		NONE   SCHOLARSHIPS 6,000

HASKELL INDIAN NATIONS UNIVERSITY

155 E INDIAN AVE BOX 5027
LAWRENCE,KS66046 		NONE   SCHOLARSHIPS 20,000

MONTANA STATE UNIVERSITY NORTHERN

PO BOX 7751
HAVRE,MT59501 		NONE   SCHOLARSHIPS 10,000

NORTHWESTERN HEALTH SCIENCES UNIVERSITY

2501 W 84TH STREET
BLOOMINGTON,MN55431 		NONE   SCHOLARSHIPS 6,000

AUGSBURG UNIVERSITY

2211 RIVERSIDE AVE
MINNEAPOLIS,MN55454 		NONE   SCHOLARSHIPS 10,000

WALDEN UNIVERSITY

100 WASHINGTON AVE S
MINNEAPOLIS,MN55401 		NONE   SCHOLARSHIPS 6,000

UNIVERSITY OF JAMESTOWN

608 6TH ST NE
JAMESTOWN,ND58405 		NONE   SCHOLARSHIPS 10,000

UNIVERSITY OF MARY

7500 UNIVERSITY DR
BISMARCK,ND58504 		NONE   SCHOLARSHIPS 22,000

UNITED TRIBES TECHNICAL COLLEGE

3315 UNIVERSITY DR
BISMARCK,ND58504 		NONE   SCHOLARSHIPS 74,000

NUETA HIDATSA SAHNISH COLLEGE

PO BOX 490
NEW TOWN,ND587630490 		NONE   SCHOLARSHIPS 57,541

MINOT STATE UNIVERSITY

500 UNIVERSITY AVE W
MINOT,ND58707 		NONE   SCHOLARSHIPS 10,000

SINTE GRESKA UNIVERSITY

PO BOX 105
MISSION,SD575550105 		NONE   SCHOLARSHIPS 6,000

GRAND CANYON UNIVERSITY

3300 W CAMELBACK RD
PHOENIX,AZ85017 		NONE   SCHOLARSHIPS 6,000

AUSTIN COMMUNITY COLLEGE

3401 WEBBERVILLE RD
AUSTIN,TX78702 		NONE   SCHOLARSHIPS 10,000

MCPHERSON COLLEGE

1600 E EUCLID ST
MCPHERSON,KS67460 		NONE   SCHOLARSHIPS 10,000

OREGON STATE UNIVERSITY

PO BOX 1086
CORVALLIS,OR97339 		NONE   SCHOLARSHIPS 10,000

ARIZONA STATE UNIVERSITY

PO BOX 870412
TEMPE,AZ852870412 		NONE   SCHOLARSHIPS 8,000

MINNESOTA STATE COMMUNITY & TECHNICAL
COLLEGE FOUNDATION
1900 28TH AVE S
MOORHEAD,MN56560 		NONE   SCHOLARSHIPS 8,000

CONCORDIA UNIVERSITY TEXAS

11400 CONCORDIA UNIV DR
AUSTIN,TX78726 		NONE   SCHOLARSHIPS 10,000

MID-AMERICA CHRISTIAN UNIVERSITY

3500 SW 119TH ST
OKLAHOMA CITY,OK73170 		NONE   SCHOLARSHIPS 10,000

NORTH DAKOTA STATE UNIVERSITY

DEPT 3110 BOX 6050
FARGO,ND581086050 		NONE   SCHOLARSHIPS 10,000

NORTHWEST UNIVERSITY

5520 108TH AVE NE
KIRKLAND,WA98083 		NONE   SCHOLARSHIPS 10,000
Total ................................. 3a 449,541
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 ........... 		         
4 Dividends and interest from securities ....     14 205,992  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 1,304,139  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 189,746  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    1 215  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,700,092  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,700,092
(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:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 1,650     1,650

TY 2025 InvestmentsCorpBondsSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Name of Bond End of Year Book Value End of Year Fair Market Value
747525AF0 QUALCOMM INC    

TY 2025 InvestmentsCorpStockSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Name of Stock End of Year Book Value End of Year Fair Market Value
012653101 ALBEMARLE CORP    
931142103 WALMART INC COM 4,917 17,380
594918104 MICROSOFT CORP COM 35,881 104,946
81762P102 SERVICENOW INC 24,227 30,638
56585A102 MARATHON PETROLEUM C    
893641100 TRANSDIGM GROUP INC 5,023 17,288
023135106 AMAZON.COM INC 55,102 101,099
57636Q104 MASTERCARD INC 3,699 10,276
30303M102 META PLATFORMS INC 22,745 58,748
060505104 BANK OF AMERICA CORP 17,628 35,860
46625H100 JPMORGAN CHASE CO 17,872 46,400
15135B101 CENTENE CORP COM    
22160K105 COSTCO WHSL CORP 2,219 10,348
28176E108 EDWARDS LIFESCIENCES    
037833100 APPLE INC COM 45,786 121,793
02079K305 ALPHABET INC CL A 36,455 125,513
78409V104 S P GLOBAL INC COM 8,249 15,155
808513105 SCHWAB CHARLES CORP 18,185 25,777
03027X100 AMERICAN TOWER CORP 9,287 10,007
91324P102 UNITEDHEALTH GROUP I 20,685 18,816
88339J105 TRADE DESK INC THE C    
217204106 COPART INC COM    
79466L302 SALESFORCE COM INC    
87612E106 TARGET CORP COM    
461202103 INTUIT COM 23,985 30,471
98954M101 ZILLOW GROUP INC    
437076102 HOME DEPOT INC 38,495 41,636
67066G104 NVIDIA CORP COM 47,801 158,339
00724F101 ADOBE SYS INC    
90353T100 UBER TECHNOLOGIES IN 22,733 38,159
65339F101 NEXTERA ENERGY INC 12,919 17,340
550021109 LULULEMON ATHLETICA    
007903107 ADVANCED MICRO DEVIC 28,464 59,322
697435105 PALO ALTO NETWORKS I 24,472 28,735
235851102 DANAHER CORP 40,254 42,350
09290D101 BLACKROCK INC COM 19,078 25,688
127097103 COTERRA ENERGY INC 8,989 9,738
166764100 CHEVRON CORP COM 12,485 12,802
26142V105 DRAFTKINGS INC NEW    
29444U700 EQUINIX INC 12,254 11,492
532457108 ELI LILLY CO 38,332 50,510
58733R102 MERCADOLIBRE INC 22,037 22,157
806857108 SCHLUMBERGER LTD COM    
871607107 SYNOPSYS INC 27,431 25,365
922475108 VEEVA SYSTEMS INC-CL 8,650 9,376
92537N108 VERTIV HOLDINGS CO 20,539 40,503
G29183103 EATON CORP PLC SHS 17,902 19,429
05722G100 BAKER HUGHES COMPANY 15,619 18,489
14040H105 CAPITAL ONE FINL COR 25,824 31,022
16411R208 CHENIERE ENERGY INC 15,514 12,441
169656105 CHIPOTLE MEXICAN GRI 23,607 22,866
46120E602 INTUITIVE SURGICAL I 12,221 13,593
502431109 L3HARRIS TECHNOLOGIE 16,015 20,843
565394103 MAPLEBEAR INC COM 18,007 17,857
595112103 MICRON TECHNOLOGY IN 16,833 53,372
64110L106 NETFLIX.COM INC 24,108 19,690
679295105 OKTA INC 29,862 24,903
87422Q109 TALEN ENERGY CORP CO 11,400 23,240
G54950103 LINDE PLC 13,523 12,792

TY 2025 InvestmentsOtherSchedule2
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
99MIN3016 VARIOUS MINERAL INTE AT COST 71 4,675,467
74440B884 PGIM TOTAL RETURN BO AT COST 301,408 292,499
464287200 ISHARES CORE S P 500 AT COST 118,512 192,468
024524217 AMERICAN BEACON STEP      
464287655 ISHARES RUSSELL 2000      
996206CG1 UND 1/14TH INT IN NW AT COST 12 11,784
03463K406 ANGEL OAK MULTI STRA      
996206CH9 UND 57/378 INT IN E1 AT COST 48 47,136
464288877 ISHARES MSCI EAFE VA AT COST 224,755 301,065
996209BQ4 UND 1/2 INT IN E1/2 AT COST 160 157,120
996209WE8 UND 1/2 INT IN SE1/4 AT COST 120 117,840
996215GY9 SW1/4 & N1/2 SE1/4 AT COST 208 204,256
04314H568 ARTISAN HIGH INCOME AT COST 382,423 366,579
996206CE6 UND 1/14TH INT IN W AT COST 22 21,604
808524847 SCHWAB US REIT ETF AT COST 285,557 293,860
996206CF3 UND 1/14TH INT IN E1 AT COST 17 16,694
464287499 ISHARES RUSSELL MID      
464287473 ISHARES RUSSELL MIDC      
46432F842 ISHARES CORE MSCI EA AT COST 445,741 587,394
861728400 STONE RIDGE HY REINS AT COST 212,591 220,517
46434G103 ISHARES CORE MSCI EM AT COST 414,747 532,248
464287226 ISHARES CORE U.S. AG AT COST 356,909 366,260
464287432 ISHARES 20 YEAR TREA      
52470V822 WESTERN ASSET INCOME      
52471E258 CLEARBRIDGE INTERNAT AT COST 221,143 271,623
922042742 VANGUARD TOTAL WORLD AT COST 397,421 440,671
56064L298 NYLI CBRE GLOBAL INF AT COST 137,784 141,317
72201F490 PIMCO INCOME FUND IN AT COST 146,472 146,606
92206C664 VANGUARD RUSSELL 200 AT COST 308,039 381,062
922908629 VANGUARD MID CAP ETF AT COST 925,080 1,042,760

TY 2025 OtherAssetsSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED INCOME   0 0
000000000 MISCELLANEOUS ENTRY 5,488 4,064 4,064


TY 2025 OtherDecreasesSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Description Amount
ROC ON CY SALES 3,020
COST BASIS ADJ 99


TY 2025 OtherExpensesSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Rent and Royalty Expense 814,988      


TY 2025 OtherIncomeSchedule2
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 215 215  


TY 2025 OtherIncreasesSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Description Amount
RECOVERY OF GRANTS PAID 16,000


TY 2025 TaxesSchedule
Name:
HELEN GOUGH FDN TRUST
EIN:
45-6014772
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 2,019 2,019   0
FEDERAL ESTIMATES - PRINCIPAL 3,590 0   0
FOREIGN TAXES ON NONQUALIFIED 1,438 1,438   0