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
Otter Tail Corporation Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address) 215 South Cascade Street
  Room/suite
City or town
Fergus Falls
State or province
MN
Country  
ZIP or foreign postal code
565380496
A Employer identification number

83-1883575
B Telephone number (see instructions)

7014513562
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)$17,605,608J 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) 0
2 Check .................
3 Interest on savings and temporary cash investments 0 0 0
4 Dividends and interest from securities... 445,866 445,866 0
5a Gross rents............ 0 0 0
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
808,013
b Gross sales price for all assets on line 6a 3,732,859
7 Capital gain net income (from Part IV, line 2)... 808,013
8 Net short-term capital gain.........  
9 Income modifications........... 0
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0 0
11 Other income (attach schedule)....... 0 0 0
12 Total. Add lines 1 through 11........ 1,253,879 1,253,879 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 0 0 0 0
15 Pension plans, employee benefits....... 0 0 0 0
16a Legal fees (attach schedule)......... 0 0 0 0
b Accounting fees (attach schedule)....... 0 0 0 0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
76,906 76,906 0 0
17 Interest............... 0 0 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
11,559 0 0 0
19 Depreciation (attach schedule) and depletion... 0 0 0
20 Occupancy.............. 0 0 0 0
21 Travel, conferences, and meetings....... 0 0 0 0
22 Printing and publications.......... 0 0 0 0
23 Other expenses (attach schedule)....... Click to see list of attachments
List of Attached Documents:
// Content
688 337 0 337
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 89,153 77,243 0 337
25 Contributions, gifts, grants paid....... 403,000 713,722
26 Total expenses and disbursements. Add lines 24 and 25 ................ 492,153 77,243 0 714,059
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 761,726
b Net investment income (if negative, enter -0-) 1,176,636
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............. 0 0 0
2 Savings and temporary cash investments......... 560,166 587,045 587,045
3 Accounts receivable  
Less: allowance for doubtful accounts   0 0 0
4 Pledges receivable  
Less: allowance for doubtful accounts   0 0 0
5 Grants receivable................. 0 0 0
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)..... 0 0  
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts   0 0  
8 Inventories for sale or use.............. 0 0 0
9 Prepaid expenses and deferred charges.......... 0 0 0
10a Investments—U.S. and state government obligations (attach schedule)   0  
b Investments—corporate stock (attach schedule)....... 0 0  
c Investments—corporate bonds (attach schedule).......   0  
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)     0  
12 Investments—mortgage loans............. 0 0 0
13 Investments—other (attach schedule).......... 15,420,518 Click to see attachment
List of Attached Documents:
// Content
17,018,563 		17,018,563
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)     0  
15 Other assets (describe ) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,980,684 17,605,608 17,605,608
Liabilities 17 Accounts payable and accrued expenses.......... 0 0
18 Grants payable................. 351,444 30,722
19 Deferred revenue................. 0 0
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe ) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 351,444 30,722
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........... 15,629,240 17,574,886
25 Net assets with donor restrictions............ 0 0
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)..... 15,629,240 17,574,886
30 Total liabilities and net assets/fund balances (see instructions). 15,980,684 17,605,608
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
15,629,240
2
Enter amount from Part I, line 27a .....................
2
761,726
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
1,183,920
4
Add lines 1, 2, and 3 ..........................
4
17,574,886
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
17,574,886
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 Public Traded Securities      
b Capital gains dividends P 2025-01-01 2025-12-31
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 3,607,811 0 2,924,846 682,965
b 125,048 0 0 125,048
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       682,965
b       125,048
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 808,013
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 16,355
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 16,355
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 16,355
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 8,000
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,000
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 8,355
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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
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 addressOttertail.com Look under the About Us tab for Foundation
14
The books are in care ofOtter Tail Corporation Telephone no. (701) 451-3562

Located at215 South Cascade StreetFergus FallsMN ZIP+4565380496
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
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
Stephanie HoffClick to see attachment
List of Attached Documents:
// Content
President
1.00 		0 0 0
215 South Cascade Street
Fergus Falls,MN56537
Kristi FlyenClick to see attachment
List of Attached Documents:
// Content
Treasurer
1.00 		0 0 0
215 South Cascade Street
Fergus Falls,MN56537
Craig A BryeClick to see attachment
List of Attached Documents:
// Content
VP
1.00 		0 0 0
215 South Cascade Street
Fergus Falls,MN56537
Todd WahlundClick to see attachment
List of Attached Documents:
// Content
Director
1.00 		0 0 0
215 South Cascade Street
Fergus Falls,MN56537
Niki VaageneClick to see attachment
List of Attached Documents:
// Content
Secretary
1.00 		0 0 0
215 South Cascade Street
Fergus Falls,MN56537
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...................  
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 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  
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
16,159,063
b
Average of monthly cash balances.......................
1b
450,105
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
16,609,168
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) Click to see attachment
List of Attached Documents:
// Content
.............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
16,609,168
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
249,138
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
16,360,030
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
818,002
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
818,002
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
16,355
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
0
c
Add lines 2a and 2b............................
2c
16,355
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
801,647
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
801,647
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
801,647
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
714,059
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) Click to see attachment
List of Attached Documents:
// Content
.................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
714,059
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 7 801,647
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
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...... 55,251
d From 2023...... 24,479
e From 2024...... 43,307
f Total of lines 3a through e ........ 123,037
4Qualifying distributions for 2025 from Part
XI, line 4: $ 714,059
a Applied to 2024, but not more than line 2a 0
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..... 714,059
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 87,588 87,588
(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 35,449
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 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 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 ...... 		35,449
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 35,449
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:
Otter Tail Corporation Foundation
215 South Cascade Street PO Box 496
Fergus Falls,MN56537
(701) 451-3562
foundation@ottertail.com
bThe form in which applications should be submitted and information and materials they should include:
Otter Tail Corporation Foundation application and grant application are available on website.
cAny submission deadlines:
N A
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Limited primarily to funding public charities described in section 501c3 that are in AZ GA IL MN ND SD.
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

544 Education Foundation

518 Friberg Avenue
Fergus Falls,MN56537 		None   Higher Education Match 1,000

Clearwater Foodshelf

PO Box 324
Clearwater,MN55320 		None   Funding the construction of a new food shelf building 10,000

Boys and Girls Ranch Fargo

7151 15th St S
Fargo,ND58104 		None   Helping troubled kids receive psychiatric therapy and trauma-informed needed for mental emotional behavioral issues often resulting from trauma abuse and neglect 4,000

Adult and Teen Challenge MN

740 E 24th Street
Minneapolis,MN55404 		None   Addiction rehab support 7,000

Family Wellness

2960 Seter Parkway
Fargo,ND58104 		None   The Neuroid Program providing individuals with Parkinsons desease and other neurological disorders the tools they need to manage their symptoms through strength balance and functional movement exercises 25,000

Homeward Bound

868 E University Dr
Mesa,AZ85203 		None   Provide basic needs employment assistance transportation financial wellness coaching credit counseling public benefits enrollment and referrals to other needed community resources to economically disadvantaged households. 3,000

Science from Scientist

9001 E Bloomington Fwy Suite 139
Bloomington,MN55420 		None   To teach and inspire the next generation to identify and solve real-world problems by improving STEM literacy. 11,000

West Fargo Public Library

215 Third St E
West Fargo,ND58078 		None   Maintain programs of the library 500

Hospice of the Red River Valley

1701 38th Street S Suite 101
Fargo,ND58103 		None   Assist with covering nearly $500,000 in grief and bereavement programming expenses not reimbursed by third-party payers. 10,000

Boys and Girls Clubs of the Valley

4309 E Belleview St Bldg 14
Phoenix,AZ85008 		None   Provide children with programs organized around 4 priority outcomes: academic success good character & leadership healthy lifestyles and career pathways a& workforce readiness. 3,000

Minnesota Private College Fund

4445 Minnesota Street
Suite 500
St Paul,MN55101 		None   Provide scholarships for students at Concordia College in Moorhead. 3,000

Heartview Foundation

7448 68th Ave NE
Cando,ND58324 		None   Provider of quality treatment and education for substance use disorders with North Dakotas only Equine Assisted Growth and Learning Association program for substance use treatment. 5,000

Black HIlls State University

1200 University St
Spearfish,SD57799 		None   Higher education. 1,000

UND Alumni Association and Foundation

3501 University Ave Stop 8157
Grand Forks,ND58202 		None   Foundation CEM Scholarship and Accountancy Scholarship 0

SDSU University Foundation

815 Medary Ave
Brookings,SD57006 		None   Scholarships each year for Mechanical Engineering Electrical Engineering and Computer Science 0

NDSU Foundation

1241 University Drive North
Fargo,ND58102 		None   Electrical Engineering Business Computer Science Scholarships 0

MSUM Foundation

1104 7th Avenue S
Moorhead,MN56563 		None   MSUM Foundation Scholarships 0

BIO Girls

4225 38th St S Suite 202
Fargo,ND58104 		None   Youth Program providing confidence building and preventive mental health programs to girls in grades 2-6. 15,000

Sojourner Center

PO Box 20156
Phoenix,AZ85036 		None   Emergency Shelter Support 5,000

Georgia Mountain Food Bank

PO Box 233
Gainesville,GA30504 		None   Retail Food Rescue Program to help families struggling with hunger 5,000

Plains Art Museum

704 1st Ave N
Fargo,ND58102 		None   Educational program for 150-250 youth and adults helping kids and families to learn and express their creativity building family bonding and connection with the community. 5,000

Lifeline Inc

4507 N Sterling Avenue
Peoria,IL61615 		None   Coordinate free air transportation for medical & humanitarian flights. 5,000

UND Stem Complex

3501 University Ave Stop 8157
Grand Forks,ND58201 		None   Support for the STEM Science Technology Engineering Math Complex to ensure students researchers faculty thrive. 0

The Arts Parnership

PO Box 2612
Fargo,ND58108 		None   Operating foundation support for the arts sector working as consultants to the art sector advising on arts organization staffing restructuring and helping them to become stronger financially. 12,000

Northern Star Scouting

6202 Bloomington Road
Fort Snelling,MN55111 		None   Charity Choice Match - Support of scounting 10,000

Village Family Service Center

2701 12th Avenue South
Fargo,ND58103 		None   Mental Health Charity Care 10,000

WAO Education Foundation

P O Box 125
Warren,MN56762 		None   Matching grant for higher education. 500

Concordia College

901 8th St S
Moorhead,MN56562 		None   Matching donation for higher education. 500

YWCA of Cass Clay

4650 38th Ave S Ste 110
Fargo,ND58104 		None   Support for women on their journey toward a life free from violence and homelessness. 10,000

ND Community Foundation

P O Box 387
Bismarck,ND58502 		None   Storm restoration and disaster relief community recovery efforts local response organizations unmet needs not covered by insurance or govt programs. 50,000

ND Lions Foundation

306 Railway Street
Enderlin,ND58027 		None   Storm restoration and disaster relief community recovery efforts local response organizations unmet needs not covered by insurance or govt programs. 35,000

Family Core Counseling & Family Services IL

330 SW Washington
Peoria,IL61602 		None   Provide family counseling and chlld welfare foster care and human support services for children parents caregivers. 5,000

United Way of Bemidji

716 Paul Bunyan Dr NW
Bemidji,MN56601 		None   Storm restoration and disaster relief community recover efforts local response organizations unmet needs not covered by insurance or gov t programs. 20,000

ND Governors Cup Foundation

401 E Main Ave
Ste 120
Bismarck,ND58501 		None   Support for the ND career builders scholarship program. 3,000

Jeremiah Program

3104 Fiechtner Drive S
Fargo,ND58103 		None   Support of single mothers in achieving college access career growth and long-term stability for their families. 20,000

Jeremiah Program Minot State

500 University Ave W
Minot,ND58707 		None   College access and career support for mothers safe affordable housing early childhood education coaching and leadership development. 10,000

United Way of Cass Clay

4351 23rd Avenue South
Fargo,ND58104 		None   Preventing homelessness youth and families with youth 15,000

United Way Cass Clay

4351 23rd Ave S
Fargo,ND58104 		None   Preventing homelessness youth and families with youth. 10,000

Ducks Unlimited

One Waterfowl Way
Memphis,TN38120 		None   Wetlands conservation restoration wildlife habitat management. 25,000

Junior Achievement

PO Box 8
West Fargo,ND58078 		None   Serve students with programming focused on financial literacy career readiness and entrepreneurship. 5,000

The Phoenix Residence Inc

222 Plato Blvd E
St Paul,MN55107 		None   Residential and support services designed to help individuals with disabilities live as independently as possible. 3,500

Lifeworks Services Inc

6636 Cedar Ave S Suite 250
Rickfield,MN55423 		None   Serving people with disabilities and their families by providing support such as employment services living independently skill development etc. 20,000

Greater Bemidji

102 First Street West
Bemidji,MN56601 		None   Support construction of a new health and wellness center. 20,000
Total ................................. 3a 403,000
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     0   0 0
b     0   0 0
c     0   0 0
d     0   0 0
e     0   0 0
f     0   0 0
    0   0 0
gFees and contracts from government agencies          
2 Membership dues and assessments ....   0   0 0
3 Interest on savings and temporary cash
investments ........... 		  0   0 0
4 Dividends and interest from securities ....   0 14 445,866 0
5 Net rental income or (loss) from real estate:
aDebt-financed property......   0   0 0
bNot debt-financed property.....   0   0 0
6 Net rental income or (loss) from personal property   0   0 0
7 Other investment income .....   0   0 0
8 Gain or (loss) from sales of assets other than
inventory ............ 		  0 18 808,013 0
9 Net income or (loss) from special events:   0   0 0
10 Gross profit or (loss) from sales of inventory   0   0 0
11 Other revenue:
a   		  0   0 0
b     0   0 0
c     0   0 0
d     0   0 0
e     0   0 0
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,253,879 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,253,879
(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: 25022704
Software Version: V2.0


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 InvestmentsOtherSchedule2
Name:
Otter Tail Corporation Foundation
EIN:
83-1883575
Software ID:
25022704
Software Version:
V2.0
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ISHARES MSCI USA QUALITY FACTOR EXCHANGE-TRADED FUND QUAL FMV 1,769,903 1,769,903
PRINCIPAL MIDCAP FUND OPEN-END FUND CL R-6 PMAQX FMV 672,545 672,545
UNDISCOVERED MGRS BEHAVR VALUE FUND OPEN-END FUND INSTL CL UBVLX FMV 706,633 706,633
GOLDMAN SACHS INTL EQUITY INSIGHTS FUND OPEN-END FUND INSTL CL GCIIX FMV 1,150,340 1,150,340
GQG PARTNERS EMERGING MKTS EQUITY OPEN-END FUND INSTL CL GQGIX FMV 504,198 504,198
ISHARES CORE MSCI EAFE ETF CLOSED-END FUND IEFA FMV 797,625 797,625
JOHCM INTERNATIONAL SELECT OPEN-END FUND CL I JOHIX FMV 699,698 699,698
RBC EMERGING MARKETS EQUITY FUND OPEN-END FUND CL I REEIX FMV 538,710 538,710
GUGGENHEIM TOTAL RETURN BOND FUND OPEN-END FUND INSTL CL GIBIX FMV 876,178 876,178
JP MORGAN CORE BOND FUND OPEN-END FUND CL I WOBDX FMV 875,388 875,388
METROPOLITAN WEST TR BOND FD OPEN-END FUND CL I MWTIX FMV 587,375 587,375
PIMCO MORTAGE OPPORTUNITIES & BOND FUND FD OPEN-END FUND INSTL CL PMZIX FMV 779,964 779,964
VANGUARD LONG-TERM TREASURY FUND OPEN-END FUND ADM CL VUSUX FMV 155,150 155,150
ISHARES GOLD TRUST EXCHANGE-TRADED FUND IAU FMV 332,878 332,878
ISHARES BARCLAYS TIPS BOND FUND CLOSED-END FUND TIP FMV 145,191 145,191
LAZARD GLOBAL LISTED INFRASTR PT OPEN-END FUND INSTL CL GLIFX FMV 257,022 257,022
GMO RESOURCES FUND OPEN-END FUND CL R6 GAAHX FMV 232,269 232,269
BLACKROCK SYSTEMATIC MULTI-STRAT OPEN-END FUND INSTL CL BIMBX FMV 215,033 215,033
JPMORGAN HEDGED EQUITY FUND OPEN-END FUND CL I JHEQX FMV 0 0
MERGER FUND OPEN-END FUND INSTL CL MERIX FMV 250,568 250,568
PIMCO TRENDS MANAGED FUTURES STRATEGY FD OPEN-END FUND INSTL CL PQTIX FMV 133,493 133,493
INVESCO S&P 500 EQUAL WEIGHT EXCHANGE-TRADED FUND RSP FMV 0 0
FIDELITY HEDGED EQUITY EXCHANGE-TRADED FUND FHEQ FMV 260,942 260,942
ISHARES CORE S&P 500 ETF CLOSED-END FUND IVV FMV 5,077,460 5,077,460

TY 2025 OtherExpensesSchedule
Name:
Otter Tail Corporation Foundation
EIN:
83-1883575
Software ID:
25022704
Software Version:
V2.0
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Annual Report Fee 90 90 0 90
Tax Return Preparation Filing 495 247 0 247
Board Meeting Expenses 103 0 0 0


TY 2025 OtherIncreasesSchedule
Name:
Otter Tail Corporation Foundation
EIN:
83-1883575
Software ID:
25022704
Software Version:
V2.0
Description Amount
Other 1,183,920


TY 2025 OtherProfessionalFeesSchedule
Name:
Otter Tail Corporation Foundation
EIN:
83-1883575
Software ID:
25022704
Software Version:
V2.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Bank Fees 65,106 65,106 0 0
Benchmark Consultants 11,800 11,800 0 0


TY 2025 TaxesSchedule
Name:
Otter Tail Corporation Foundation
EIN:
83-1883575
Software ID:
25022704
Software Version:
V2.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Excise Tax 11,559 0 0 0