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
OTTO BREMER TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address) 30 EAST 7TH STREET 2900
  Room/suite
City or town
ST PAUL
State or province
MN
Country  
ZIP or foreign postal code
55101
A Employer identification number

41-6019050
B Telephone number (see instructions)

6512278036
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)$1,507,408,593J 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 5,282,213 5,282,213  
4 Dividends and interest from securities... 40,450,058 40,450,058  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -52,158,498
b Gross sales price for all assets on line 6a 53,820,531
7 Capital gain net income (from Part IV, line 2)... 280,315,742
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
19,063,004 1,539,407  
12 Total. Add lines 1 through 11........ 12,636,777 327,587,420  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 2,135,676 0   2,135,676
14 Other employee salaries and wages...... 1,493,349 0   1,493,349
15 Pension plans, employee benefits....... 552,846 0   553,105
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
716,726 0   1,825,540
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
355,080 177,540   177,451
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
444,913 0   491,839
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
4,239,797 0   0
19 Depreciation (attach schedule) and depletion... 327,567 0  
20 Occupancy.............. 510,725 0   552,892
21 Travel, conferences, and meetings....... 62,541 0   64,552
22 Printing and publications.......... 45,268 0   45,268
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
982,193 430,325   543,746
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,866,681 607,865   7,883,418
25 Contributions, gifts, grants paid....... 58,154,750 57,229,750
26 Total expenses and disbursements. Add lines 24 and 25 ................ 70,021,431 607,865   65,113,168
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -57,384,654
b Net investment income (if negative, enter -0-) 326,979,555
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,314,093 4,293,117 4,293,117
2 Savings and temporary cash investments......... 85,928,268 148,636,507 148,636,507
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 361,834 307,721 307,721
10a Investments—U.S. and state government obligations (attach schedule) 23,984,056 Click to see attachment
List of Attached Documents:
// Content
80,009,338 		80,686,589
b Investments—corporate stock (attach schedule)....... 1,285,523,400 Click to see attachment
List of Attached Documents:
// Content
1,062,411,538 		1,176,497,143
c Investments—corporate bonds (attach schedule)....... 20,276,374 Click to see attachment
List of Attached Documents:
// Content
84,580,010 		85,713,868
11 Investments—land, buildings, and equipment: basis 4,075,437
Less: accumulated depreciation (attach schedule) 3,507,635 733,454 Click to see attachment
List of Attached Documents:
// Content
567,802 		567,802
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 0 Click to see attachment
List of Attached Documents:
// Content
9,673,995 		9,983,870
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
1,877,076 		Click to see attachment
List of Attached Documents:
// Content
721,976 		Click to see attachment
List of Attached Documents:
// Content
721,976
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,419,998,555 1,391,202,004 1,507,408,593
Liabilities 17 Accounts payable and accrued expenses.......... 1,551,901 141,642
18 Grants payable................. 11,875,000 9,050,000
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)......... 13,426,901 9,191,642
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........... 1,406,571,654 1,382,010,362
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,406,571,654 1,382,010,362
30 Total liabilities and net assets/fund balances (see instructions). 1,419,998,555 1,391,202,004
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
1,406,571,654
2
Enter amount from Part I, line 27a .....................
2
-57,384,654
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
32,823,362
4
Add lines 1, 2, and 3 ..........................
4
1,382,010,362
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
1,382,010,362
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 BREMER FINANCIAL CORPORATION P    
b PUBLICLY TRADED SECURITIES P    
c CAPITAL GAINS DIVIDENDS P    
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 271,709,300     271,709,300
b 52,057,926   45,214,089 6,843,837
c 1,762,605     1,762,605
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       271,709,300
b       6,843,837
c       1,762,605
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 2 280,315,742
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 4,545,016
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 4,545,016
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 4,545,016
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 4,546,307
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,546,307
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 1,286
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 5
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax5 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)
MN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions Click to see list of attachments
List of Attached Documents:
// Content
.............
11
Yes
 
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 addressWWW.OTTOBREMER.ORG
14
The books are in care ofTHE ORGANIZATION Telephone no. (651) 227-8036

Located at30 EAST 7TH STREET 2900ST PAULMN ZIP+455101
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
Yes
 
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
 
No
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
FRANCIS MILEY CO-CEO/TRUSTEE
40.00 		701,327 59,227 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
DANIEL REARDON CO-CEO/TRUSTEE
40.00 		711,646 43,082 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
CAROLINE JOHNSON CO-CEO/TRUSTEE
40.00 		711,703 38,895 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
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
LUE HER DIRECTOR OF PHILANTH
40.00 		335,728 22,279 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
ANTHONY THOMPSON DIRECTOR OF FINANCE
40.00 		257,020 16,917 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
DANIELLE CHESLOG DIRECTOR OF GRANT OP
40.00 		159,650 37,541 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
ANTHONY VASQUEZ MANAGER OF IT
40.00 		142,899 30,907 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
ANN CATHERINE PAGEL OPERATIONS & COMM AS
40.00 		129,341 22,159 0
30 EAST 7TH STREET SUITE 2900
ST PAUL,MN55101
Total number of other employees paid over $50,000................... 9
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
SULLIVAN & CROMWELL LLP LEGAL COUNSEL 1,540,406
125 BROAD STREET
NEW YORK,NY100042498
FIONTA INCORPORATED IT/SOFTWARE SERVICES 444,388
700 PENNSYLVANIA AVENUE SE SUITE
200
WASHINGTON,DC20003
BEECHER CARLSON INSURANCE SERVICES 260,140
6 CONCOURSE PKWY STE 2300
ATLANTA,GA30328
ERNST & YOUNG LLP ACCOUNTING SERVICES 229,958
395 9TH AVENUE
NEW YORK,NY10001
CIRESI CONLIN LLP LEGAL COUNSEL 158,230
225 SOUTH 6TH STREET SUITE 4600
MINNEAPOLIS,MN55402
Total number of others receiving over $50,000 for professional services.............right arrow12
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 NATIVE AMERICAN COMMUNITY CLINICNATIVE AMERICAN COMMUNITY CLINIC CAPITAL SUPPORT 1,500,000
2 BEACON INTERFAITH HOUSING COLLABORATIVEPREDEVELOPMENT LINE OF CREDIT 2,000,000
All other program-related investments. See instructions.
3 Click to see attachment
List of Attached Documents:
// Content
250,000
Total. Add lines 1 through 3.........................3,750,000
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
882,609,497
b
Average of monthly cash balances.......................
1b
124,938,475
c
Fair market value of all other assets (see instructions)................
1c
381,269,146
d
Total (add lines 1a, 1b, and 1c).......................
1d
1,388,817,118
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
1,388,817,118
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
20,832,257
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,367,984,861
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
68,399,243
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
68,399,243
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
4,545,016
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,545,016
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
63,854,227
4
Recoveries of amounts treated as qualifying distributions................
4
17,523,597
5
Add lines 3 and 4............................
5
81,377,824
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
81,377,824
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
65,113,168
b
Program-related investments—total from Part VIII-B..................
1b
3,750,000
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
68,863,168
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 81,377,824
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 62,894,097
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 68,863,168
a Applied to 2024, but not more than line 2a 62,894,097
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..... 5,969,071
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 .......... 		75,408,753
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
OTTO BREMER TRUST
30 EAST 7TH STREET
ST PAUL,MN55101
(651) 227-8036
bThe form in which applications should be submitted and information and materials they should include:
SEE GRANT GUIDELINES AT WWW.OTTOBREMER.ORG
cAny submission deadlines:
SEE GRANT GUIDELINES AT WWW.OTTOBREMER.ORG
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
SEE GRANT GUIDELINES AT WWW.OTTOBREMER.ORG
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

GREATER TWIN CITIES UNITED WAY

404 S 8TH ST
MINNEAPOLIS,MN554041027 		    COMMUNITY RESPONSIVE FUND 4,200,000

INITIATIVE FOUNDATION

405 1ST ST SE
LITTLE FALLS,MN563453007 		    COMMUNITY RESPONSIVE FUND 3,150,000

GREATER MILWAUKEE FOUNDATION INC

2153 N MARTIN LUTHER KING JR DRIVE
STE 4000
MILWAUKEE,WI53212 		    COMMUNITY RESPONSIVE FUND 3,150,000

UNITED WAY OF WISCONSIN

2059 ATWOOD AVE 4TH FL
MADISON,WI537046608 		    COMMUNITY RESPONSIVE FUND 2,100,000

COMMUNITY FOUNDATION FOR THE FOX VALLEY REGION

4455 W LAWRENCE ST
APPLETON,WI549144065 		    COMMUNITY RESPONSIVE FUND 1,575,000

MONTANA COMMUNITY FOUNDATION INC

33 S LAST CHANCE GULCH SUITE 2A
HELENA,MT59601 		    COMMUNITY RESPONSIVE FUND 1,575,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    COMMUNITY-UNIVERSITY HEALTH CARE CENTER CAPITAL PROJECT 1,300,000

ALLINA HEALTH FOUNDATION

2925 CHICAGO AVENUE MAIL ROUTE
10721
MINNEAPOLIS,MN55407 		    HEALTHCARE CAPITAL 1,250,000

NORTH DAKOTA COMMUNITY FOUNDATION

PO BOX 387
BISMARCK,ND585020387 		    COMMUNITY RESPONSIVE FUND 1,050,000

MAYO CLINIC

DEPARTMENT OF DEVELOPMENT 200 FIRST
ST SW
ROCHESTER,MN559050001 		    HOSPITAL CAPITAL PROJECT 1,000,000

MONTANA CHILDREN'S HOME & HOSPITAL DBA SHODAIR CHILDRENS HOSPITAL

2755 COLONIAL DR
HELENA,MT596014926 		    MENTAL HEALTH SERVICES 1,000,000

FROEDTERT HOSPITAL FOUNDATION

9200 W WISCONSIN AVE
MILWAUKEE,WI53226 		    HOSPITAL BED TOWER CAMPAIGN 1,000,000

LUTHERAN SOCIAL SERVICE OF MINNESOTA

2485 COMO AVE
SAINT PAUL,MN551081469 		    HOMELESS YOUTH SERVICES 1,000,000

UNION GOSPEL MISSION ASSOCIATION OF ST PAUL

376 WESTERN AVE N
SAINT PAUL,MN55103 		    ADDRESS POVERTY IN ST. PAUL 750,000

COMMUNITY OF RECOVERING PEOPLE INC DBA THE RETREAT

1221 WAYZATA BLVD E
WAYZATA,MN553911942 		    THE RETREAT BUILDING COMMUNITY PROJECT 750,000

THE BASILICA LANDMARK

88 N 17TH STREET
MINNEAPOLIS,MN55403 		    CAPITAL CAMPAIGN 750,000

GOODWILL INDUSTRIES INC DBA GOODWILL-EASTER SEALS MINNESOTA

1270 ENERGY LANE
SAINT PAUL,MN55108 		    NEW SERVICE CENTER 750,000

EAGLE MOUNT

6901 GOLDENSTEIN LN
BOZEMAN,MT597158005 		    CAPITAL CAMPAIGN - CAMPUS OF THE FUTURE 750,000

HENNEPIN HEALTH FOUNDATION

701 PARK AVE
MINNEAPOLIS,MN554151829 		    CENTER FOR ADDICTION MEDICINE 600,000

ST MARY'S UNIVERSITY OF MINNESOTA

700 TERRACE HEIGHTS 21
WINONA,MN559871399 		    CAPITAL CAMPAIGN - CAMPUS OF THE FUTURE AND SCHOLARSHIPS 600,000

MONTANA FOOD BANK NETWORK

5780 ALLOY NORTH
MISSOULA,MT59808 		    FOOD DISTRIBUTION 500,000

MERCY MEDICAL FOUNDATION

1301 15TH AVE W
WILLISTON,ND588013896 		    HEALTHCARE CAPITAL 500,000

AMERICAN CANCER SOCIETY INC

PO BOX 21600
SAINT PAUL,MN551210600 		    ROCHESTER AND MINNEAPOLIS HOPE LODGES 500,000

LAKEVIEW HEALTH FOUNDATION

927 CHURCHILL ST W
STILLWATER,MN550826605 		    HEALTHCARE CAPITAL 500,000

GROVES ACADEMY

3200 HWY 100 S
SAINT LOUIS PARK,MN554162175 		    IMPACT COHORT 500,000

GUNDERSEN LUTHERAN MEDICAL FOUNDATION INC

1900 SOUTH AVENUE MAILSTOP C03-006B
LA CROSSE,WI54601 		    HOSPITAL CAPITAL PROJECT 500,000

CATHOLIC CHARITIES OF THE ARCHDIOCESE OF ST PAUL AND MINNEAPOLIS

1007 E 14TH ST
MINNEAPOLIS,MN554041314 		    DOROTHY DAY CAMPUS SUPPORT FOR OUR NEIGHBORS IN NEED 500,000

MARSHFIELD CLINIC HEALTH SYSTEM FOUNDATION INC

1000 N OAK AVE ATTENTION SPONSORED
PROGRAMS-ML9
MARSHFIELD,WI544495703 		    HOSPITAL CAPITAL PROJECT 500,000

CATHOLIC CHARITIES OF THE ARCHDIOCESE OF ST PAUL AND MINNEAPOLIS

1007 E 14TH ST
MINNEAPOLIS,MN554041314 		    TO RELIEVE POVERTY IN ST. PAUL. 500,000

HOSPITAL SISTERS OF ST FRANCIS FOUNDATION DBA HSHS ST VINCENT-ST MARY'S

PO BOX 11706
GREEN BAY,WI543071706 		    HOSPITAL CAPITAL PROJECT 500,000

COMMUNITY DENTAL CARE INC

1670 BEAM AVE STE 204
SAINT PAUL,MN551091227 		    NEW ST. PAUL CLINIC CAMPAIGN 500,000

SECOND HARVEST HEARTLAND INC

7101 WINNETKA AVE N
BROOKLYN PARK,MN55428 		    FOOD PROGRAMS 450,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    RURAL PHYSICIAN SCHOLARSHIPS 450,000

WILDERNESS INQUIRY INC

930 E 80TH ST
BLOOMINGTON,MN55420 		    YOUTH DEVELOPMENT AND COMMUNITY RECREATION 420,000

KENOSHA COMMUNITY HEALTH CENTER DBA PILLAR HEALTH

4006 WASHINGTON ROAD
KENOSHA,WI53144 		    CLINIC CAPITAL PROJECT 400,000

BILLINGS CLINIC FOUNDATION

2917 10TH AVENUE NORTH PO BOX 31031
BILLINGS,MT591071031 		    HEALTHCARE CAPITAL 400,000

ST PATRICK HOSPITAL FOUNDATION DBA PROVIDENCE MONTANA HEALTH FOUNDATION

502 W SPRUCE ST
MISSOULA,MT598024004 		    GENERAL OPERATIONS 400,000

GREAT PLAINS FOOD BANK

1720 3RD AVE N
FARGO,ND581024254 		    FOOD PROGRAMS 350,000

MONTANA RESCUE MISSION

2822 MINNESOTA AVE
BILLINGS,MT591014148 		    FOOD AND SHELTER PROGRAMS 350,000

TRUE FRIENDS

10509 108TH ST NW
ANNANDALE,MN553022912 		    GENERAL OPERATIONS AND CAPITAL 350,000

GILLETTE CHILDREN'S HOSPITAL FOUNDATION

200 UNIVERSITY AVE E INT ZIP 010605
SAINT PAUL,MN551012507 		    CHILDREN'S SURGICAL CENTER RENOVATION 300,000

JEREMIAH PROGRAM

729 WASHINGTON AVE N STE 600
MINNEAPOLIS,MN554011118 		    TWO-GENERATION ECONOMIC MOBILITY PROGRAMS 300,000

NEW PATHWAYS INC

PO BOX 366
CAMBRIDGE,MN550080366 		    NEW SHELTER 300,000

ALL-IN MILWAUKEE

135 W WELLS ST STE 100
MILWAUKEE,WI532031800 		    COLLEGE COMPLETION, MATRICULATE TO WISCONSIN WORKFORCE 300,000

ST CROIX VALLEY FOOD BANK

1231 INDUSTRIAL ST STE 400
HUDSON,WI540169328 		    NEW FOOD BANK 300,000

ALTRU HEALTH FOUNDATION

PO BOX 6002 2501 DEMERS AVE
GRAND FORKS,ND582014181 		    BEHAVIOR HEALTH CENTER EXPANSION 300,000

THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF STEVEN'S POINT WISCONSIN AREA INC

1000 DIVISION ST
STEVENS POINT,WI544812724 		    CAPITAL CAMPAIGN FOR WAUSHARA COUNTY FACILITY 300,000

TUBMAN

4432 CHICAGO AVE
MINNEAPOLIS,MN554073519 		    GENERAL OPERATIONS 250,000

THE SALVATION ARMY A CALIFORNIA CORPORATION

111 QUEEN ANNE N STE 300
SEATTLE,WA98109 		    RELIEF AGENCY RESPONDING TO CATASTROPHE 250,000

THE SALVATION ARMY - NORTHERN DIVISION

2445 PRIOR AVE N
ROSEVILLE,MN551132714 		    RELIEVE POVERTY IN ST. PAUL 250,000

THE SALVATION ARMY OF DANE COUNTY

3030 DARBO DR
MADISON,WI537141656 		    CAPITAL FOR NEW SHELTER 250,000

CATHOLIC CHARITIES OF THE DIOCESE OF ST CLOUD

911 18TH ST N
SAINT CLOUD,MN563031203 		    BASIC NEEDS 250,000

UNIVERSITY OF ST THOMAS

2115 SUMMIT AVE
SAINT PAUL,MN551051079 		    TEACHER PATHWAY SCHOLARSHIPS 250,000

LOAVES AND FISHES TOO

721 KASOTA AVE SE
MINNEAPOLIS,MN554142842 		    FOOD PROGRAMS 250,000

ST CLOUD AREA FAMILY YMCA

2001 STOCKINGER DR
SAINT CLOUD,MN563031243 		    OPERATING SUPPORT AND CAPITAL CAMPAIGN 250,000

COMMUNITY OF RECOVERING PEOPLE INC DBA THE RETREAT

1221 WAYZATA BLVD E
WAYZATA,MN553911942 		    SCHOLARSHIPS 250,000

LOCAL INITIATIVES SUPPORT CORPORATION

570 ASBURY ST STE 207
SAINT PAUL,MN551043051 		    MINNESOTA HOUSING OPPORTUNITY FUND (MHOF) 250,000

YMCA OF THE NORTHERN SKY

400 1ST AVE S
FARGO,ND581031998 		    YMCA OF CASS & CLAY COUNTIES NEW EARLY LEARNING CENTER 250,000

COMO FRIENDS

1225 ESTABROOK DR
SAINT PAUL,MN551031022 		    ACCESS TO ENRICHMENT 250,000

SECOND HARVEST FOODBANK OF SOUTHERN WISCONSIN

2802 DAIRY DR
MADISON,WI53718 		    FOOD DISTRIBUTION 250,000

MNI SOTA FUND

1530 E FRANKLIN AVE
MINNEAPOLIS,MN55404 		    BUSINESS AND CONSUMER LOANS 250,000

AMERICAN NATIONAL RED CROSS - MINNESOTA CHAPTER

1201 W RIVER PKWY STE 200
MINNEAPOLIS,MN554541115 		    RELIEF AGENCY 250,000

NEIGHBORHOOD HOUSE

179 ROBIE ST E
SAINT PAUL,MN551073390 		    RELIEVE POVERTY IN ST. PAUL 250,000

AVENUES FOR YOUTH

1708 OAK PARK AVE N
MINNEAPOLIS,MN554113944 		    CAPACITY CAMPAIGN- A HOME OF OUR OWN, AVENUES FOR YOUTH 250,000

WALLIN EDUCATION PARTNERS

451 LEXINGTON PKWY N STE 100
SAINT PAUL,MN551044637 		    CHANGING THE ODDS CAMPAIGN MATCHING GRANT 250,000

SECOND HARVEST NORTHLAND

2302 COMMONWEALTH AVE
DULUTH,MN55808 		    FOOD DISTRIBUTION 240,000

FEEDING AMERICA EASTERN WISCONSIN INC

1700 W FOND DU LAC AVE
MILWAUKEE,WI532051299 		    FOOD PROGRAMS 225,000

SECOND HARVEST HEARTLAND INC

7101 WINNETKA AVE N
BROOKLYN PARK,MN55428 		    FOOD PROGRAMS 210,000

BIGHORN VALLEY HEALTH CENTER DBA ONE HEALTH

10 4TH ST W STE B
HARDIN,MT590341804 		    HEALTHCARE CAPITAL 200,000

NORTH COUNTRY FOOD BANK INC

1011 11TH AVE NE
EAST GRAND FORKS,MN567212615 		    FOOD PROGRAMS 200,000

FEEDING AMERICA EASTERN WISCONSIN INC

1700 W FOND DU LAC AVE
MILWAUKEE,WI532051299 		    FOOD PROGRAMS 200,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    4-H YOUTH DEVELOPMENT AND ENRICHMENT 200,000

PACER CENTER INC

8161 NORMANDALE BLVD
MINNEAPOLIS,MN554371004 		    DISABILITY SERVICES 200,000

UNIVERSITY OF WISCONSIN MADISON

1300 LINDEN DR 4285N
MADISON,WI53706 		    4-H YOUTH DEVELOPMENT AND ENRICHMENT 200,000

EPISCOPAL HOMES FOUNDATION OF MINNESOTA

490 E LYNNHURST AVE
ST PAUL,MN55104 		    THE PILLARS HOSPICE HOME CAPITAL CAMPAIGN 200,000

SECOND HARVEST FOODBANK OF SOUTHERN WISCONSIN

2802 DAIRY DR
MADISON,WI53718 		    FOOD PROGRAMS 200,000

FAMILYMEANS

1875 NORTHWESTERN AVE S
STILLWATER,MN550827534 		    FINANCIAL SOLUTIONS AND YOUTH DEVELOPMENT 200,000

CHANNEL ONE INC

131 35TH ST SE
ROCHESTER,MN559045544 		    FOOD DISTRIBUTION 200,000

UNION GOSPEL MISSION ASSOCIATION OF ST PAUL

376 WESTERN AVE N
SAINT PAUL,MN55103 		    RELIEVE POVERTY IN ST. PAUL 200,000

MINNESOTA CHILDREN'S MUSEUM

10 7TH ST W
SAINT PAUL,MN551021104 		    ACCESS TO ENRICHMENT 200,000

JUNIOR ACHIEVEMENT OF WISCONSIN INC

11111 W LIBERTY DR
MILWAUKEE,WI532243641 		    FINANCIAL LITERACY 200,000

BENEDICTINE FOUNDATION WINONA

1347 W BROADWAY
WINONA,MN55987 		    BUILDING RENOVATION: A CALL TO CARE 200,000

MONTANA CHILDREN'S HOME & HOSPITAL DBA SHODAIR CHILDRENS HOSPITAL

2755 COLONIAL DR
HELENA,MT596014926 		    CHILD MENTAL HEALTH 200,000

GIRL SCOUTS OF MINNESOTA AND WISCONSIN RIVER VALLEYS INC

400 SOUTH ROBERT STREET
SAINT PAUL,MN55107 		    YOUTH DEVELOPMENT AND CITIZENSHIP SKILLS 200,000

MINNESOTA ZOO FOUNDATION

13000 ZOO BLVD
APPLE VALLEY,MN551248199 		    ACCESS TO ENRICHMENT 200,000

GREATER TWIN CITIES UNITED WAY

404 S 8TH ST
MINNEAPOLIS,MN554041027 		    RELIEF AGENCY 200,000

COMMUNITY OF SAINTS REGIONAL CATHOLIC SCHOOL

335 HURLEY ST E
WEST SAINT PAUL,MN55118 		    CAPITAL 152,500

COMMUNITY OF SAINTS REGIONAL CATHOLIC SCHOOL

335 HURLEY ST E
WEST SAINT PAUL,MN55118 		    CAPITAL 152,500

NORTH COUNTRY FOOD BANK INC

1011 11TH AVE NE
EAST GRAND FORKS,MN567212615 		    FOOD DISTRIBUTION 150,000

FEED MY PEOPLE INC

2610 ALPINE RD
EAU CLAIRE,WI547039526 		    FOOD PROGRAMS 150,000

ESSENTIA HEALTH FOUNDATION

502 E 2ND STREET
DULUTH,MN558051982 		    EMERGENCY DEPARTMENT EXPANSION FOR RURAL NE MN 150,000

ST ANN CENTER FOR INTERGENERATIONAL CARE

2801 E MORGAN AVE
MILWAUKEE,WI53207 		    DISABILITY SERVICES 150,000

METRO MEALS ON WHEELS INC

1200 WASHINGTON AVE S STE 380
MINNEAPOLIS,MN554151590 		    FOOD PROGRAMS 150,000

RAWHIDE YOUTH SERVICES

E7475 RAWHIDE RD
NEW LONDON,WI549619052 		    CHILD MENTAL HEALTH 150,000

EAGLE MOUNT

6901 GOLDENSTEIN LN
BOZEMAN,MT597158005 		    NEW ROUND PEN 150,000

SCIENCE MUSEUM OF MINNESOTA

120 KELLOGG BLVD W
SAINT PAUL,MN551021202 		    ACCESS TO ENRICHMENT 150,000

JEWISH FAMILY SERVICE OF SAINT PAUL

1633 7TH ST W
SAINT PAUL,MN551024227 		    RELIEVE POVERTY IN ST. PAUL 150,000

CURATIVE CONNECTIONS INC

2900 CURRY LN STE 2900
GREEN BAY,WI543114876 		    DISABILITIES SERVICES 150,000

LUTHERAN SOCIAL SERVICE OF MINNESOTA

2485 COMO AVE
SAINT PAUL,MN551081469 		    FOSTER CARE AND ADOPTION 150,000

KEYSTONE COMMUNITY SERVICES

2000 SAINT ANTHONY AVE
SAINT PAUL,MN551045125 		    RELIEVE POVERTY IN ST. PAUL 150,000

THOMAS IRVINE DODGE NATURE CENTER

365 MARIE AVE E
SAINT PAUL,MN551184013 		    ACCESS TO ENRICHMENT AND COMMUNITY RECREATION 150,000

JUNIOR ACHIEVEMENT NORTH

1745 UNIVERSITY AVE W
SAINT PAUL,MN551043613 		    YOUTH FINANCIAL LITERACY AND ENTREPRENEURSHIP 150,000

JEWISH FAMILY AND CHILDREN'S SERVICE OF MINNEAPOLIS

5905 GOLDEN VALLEY RD
MINNEAPOLIS,MN554224463 		    MENTAL HEALTH AND WRAPAROUND SERVICES 150,000

GUILD

122 WABASHA ST S STE 400
SAINT PAUL,MN551073394 		    MENTAL HEALTH 150,000

THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF CHIPPEWA VALLEY INC

700 GRAHAM AVE
EAU CLAIRE,WI547013896 		    YOUTH ENRICHMENT AND COMMUNITY RECREATION 150,000

UNIVERSITY OF ST THOMAS

2115 SUMMIT AVE
SAINT PAUL,MN551051079 		    SUPPLY OF SACRED MUSIC 145,000

THE SALVATION ARMY - WISCONSIN AND UPPER MICHIGAN DIVISION

11315 W WATERTOWN PLANK ROAD
WAUWATOSA,WI53226 		    FOOD PROGRAMS 140,000

FOUNDATIONS HEALTH & WHOLENESS INC

1061 W MASON ST
GREEN BAY,WI543031858 		    MENTAL HEALTH, ADOPTION, AND FOSTER CARE 130,000

AMERICAN RED CROSS OF MONTANA

1300 28TH ST S
GREAT FALLS,MT594055296 		    RELIEF AGENCY 125,000

MINNEAPOLIS HEART INSTITUTE FOUNDATION

920 E 28TH ST STE 100
MINNEAPOLIS,MN554071186 		    HEART EDUCATIONAL PROGRAMS 125,000

ST CROIX VALLEY FOOD BANK

1231 INDUSTRIAL ST STE 400
HUDSON,WI540169328 		    FOOD PROGRAMS 125,000

WILLISTON STATE COLLEGE FOUNDATION

PO BOX 1286 501 18TH STREET E
WILLISTON,ND558021286 		    BUILDING A SUSTAINABLE HEALTHCARE WORKFORCE 125,000

AMERICAN NATIONAL RED CROSS - WISCONSIN CHAPTER

2600 W WISCONSIN AVE
MILWAUKEE,WI532332923 		    RELIEF AGENCY 125,000

DREAM CENTER BISMARCK

1805 PARK AVE
BISMARCK,ND585046733 		    COMMUNITY MEALS 120,000

FACE TO FACE HEALTH AND COUNSELING SERVICE INC

1165 ARCADE ST
SAINT PAUL,MN551062615 		    RELIEVE POVERTY IN ST. PAUL 100,000

LUTHERAN SOCIAL SERVICES OF WISCONSIN AND UPPER MICHIGAN INC

6737 W WASHINGTON ST STE 2275
MILWAUKEE,WI532145666 		    MENTAL HEALTH PROGRAMS 100,000

JOURNEY HOUSE INC

2110 W SCOTT ST
MILWAUKEE,WI532042077 		    COMMUNITY RECREATION AND CITIZENSHIP SKILLS 100,000

INTERFAITH ACTION OF GREATER SAINT PAUL

1010 BANDANA BLVD W
SAINT PAUL,MN55108 		    RELIEVE POVERTY IN ST. PAUL 100,000

CONCORDIA COLLEGE

901 8TH ST S
MOORHEAD,MN565620001 		    SUPPLY OF SACRED MUSIC AND SCHOLARSHIPS 100,000

1000 GENERATIONS INC DBA SAFE FAMILIES FOR CHILDREN WISCONSIN

PO BOX 213
ELKHORN,WI531210131 		    FOSTER CARE AND MENTAL HEALTH SERVICES 100,000

TNT KID'S FITNESS

2800 MAIN AVE
FARGO,ND581036818 		    YOUTH ENRICHMENT AND COMMUNITY RECREATION 100,000

GIRL SCOUTS OF THE NORTHWESTERN GREAT LAKES

4693 N LYNNDALE DR
APPLETON,WI549139614 		    CITIZENSHIP, CIVIC ENGAGEMENT, AND FINANCIAL LITERACY 100,000

MINNESOTA INDEPENDENCE COLLEGE AND COMMUNITY

7501 LOGAN AVE S STE 2A
RICHFIELD,MN554233730 		    POST-HIGH SCHOOL LIFE AND EMPLOYMENT SKILLS DEVELOPMENT 100,000

RUNNING REBELS COMMUNITY ORGANIZATION

225 WEST CAPITOL DR
MILWAUKEE,WI53212 		    YOUTH DEVELOPMENT AND COMMUNITY RECREATION 100,000

MINNPOST

PO BOX 18438
MINNEAPOLIS,MN55418 		    IN-DEPTH NEWS COVERAGE FOR GREATER MINNESOTA 100,000

MINNPOST

PO BOX 18438
MINNEAPOLIS,MN55418 		    IN-DEPTH NEWS COVERAGE FOR GREATER MINNESOTA 100,000

NEIGHBORS INC

222 GRAND AVE W
SOUTH SAINT PAUL,MN550752089 		    FINANCIAL EMPOWERMENT AND LITERACY PROGRAM 100,000

OPEN ARMS OF MINNESOTA

2500 BLOOMINGTON AVE
MINNEAPOLIS,MN554043920 		    BASIC NEEDS 100,000

MONTANA HOMEOWNERSHIP NETWORK DBA NEIGHBORWORKS MONTANA

PO BOX 1025
GREAT FALLS,MT594031025 		    FINANCIAL LITERACY 100,000

EASTER SEALS WISCONSIN INC

1468 N HIGH POINT RD STE 202
MIDDLETON,WI535623683 		    ACCESSIBILITY SERVICES 100,000

ROCK RIVER COMMUNITY CLINIC

1461 W MAIN ST
WHITEWATER,WI531901568 		    HEALTHCARE CAPITAL 100,000

EASTER SEALS WISCONSIN INC

1468 N HIGH POINT RD STE 202
MIDDLETON,WI535623683 		    DISABILITY SERVICES 100,000

RAMSEY COUNTY HISTORICAL SOCIETY

75 5TH ST W STE 323
SAINT PAUL,MN551021494 		    ACCESS TO ENRICHMENT 100,000

BEACON INTERFAITH HOUSING COLLABORATIVE

2610 UNIVERSITY AVE W STE 100
SAINT PAUL,MN551141528 		    SUPPORTIVE SERVICES 100,000

ARC MINNESOTA INC

641 FAIRVIEW AVE N
SAINT PAUL,MN551041742 		    DISABILITY SERVICES 100,000

CAMP FIRE MINNESOTA

3300 TANADOONA DR
EXCELSIOR,MN553318047 		    YOUTH DEVELOPMENT AND RECREATION 100,000

HUMAN RESOURCE DEVELOPMENT COUNCIL OF DISTRICT IX INC (HRDC)

32 S TRACY AVE
BOZEMAN,MT597154659 		    BASIC NEEDS, FOOD PROGRAMS 100,000

ST CROIX VALLEY FOOD BANK

1231 INDUSTRIAL ST STE 400
HUDSON,WI540169328 		    FOOD PROGRAMS 100,000

THE VILLAGE FAMILY SERVICE CENTER

2701 12TH ST S
FARGO,ND581032311 		    MENTAL HEALTH SERVICES 100,000

CHURCH OF THE ASCENSION

1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 100,000

CHILDREN'S SERVICE SOCIETY OF WISCONSIN DBA CHILDREN'S WISCONSIN

PO BOX 1997
MILWAUKEE,WI532011997 		    FOSTER CARE AND ADOPTION 100,000

CATHOLIC COMMUNITY FOUNDATION OF MINNESOTA

2610 UNIVERSITY AVE W STE 500
SAINT PAUL,MN551141090 		    STUDENT AND FAMILY WRAPAROUND SERVICES 100,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    SCHOLARSHIPS FOR ROCHESTER AND TWIN CITIES CAMPUS 100,000

URBAN LEAGUE OF GREATER MADISON INC

2222 S PARK ST SUITE 200
MADISON,WI537132097 		    FINANCIAL LITERACY AND EMPOWERMENT 100,000

CHILD BRIDGE INC

PO BOX 5374
MISSOULA,MT598065374 		    FOSTER CARE AND ADOPTION 100,000

BRIDGING INC

201 W 87TH ST
BLOOMINGTON,MN55420 		    GENERAL OPERATIONS 100,000

BOYS & GIRLS CLUBS OF YELLOWSTONE COUNTY

505 ORCHARD LN
BILLINGS,MT591015027 		    YOUTH DEVELOPMENT AND CITIZENSHIP SKILLS 100,000

WOMEN'S LIFE CARE CENTER

2870 MIDDLE STREET
LITTLE CANADA,MN55117 		    CAPITAL 100,000

BOYS & GIRLS CLUBS OF THE TWIN CITIES

690 JACKSON ST
SAINT PAUL,MN551304345 		    YOUTH DEVELOPMENT AND CITIZENSHIP SKILLS 100,000

BOYS & GIRLS CLUBS OF THE NORTHLAND

PO BOX 16435
DULUTH,MN558160435 		    YOUTH DEVELOPMENT AND CITIZENSHIP SKILLS 100,000

BOYS & GIRLS CLUB OF THE GREATER CHIPPEWA VALLEY INC

1005 OXFORD AVE
EAU CLAIRE,WI547035347 		    YOUTH DEVELOPMENT AND ENRICHMENT PROGRAMS 100,000

BOYS & GIRLS CLUB OF THE FLATHEAD RESERVATION

62579 US HIGHWAY 93 PO BOX 334
RONAN,MT598642011 		    YOUTH DEVELOPMENT AND ENRICHMENT PROGRAMS 100,000

BIG SKY YOUTH EMPOWERMENT PROJECT INC

225 E MENDENHALL ST
BOZEMAN,MT597153637 		    YOUTH DEVELOPMENT AND ENRICHMENT PROGRAMS 100,000

BOYS AND GIRLS CLUBS OF THE BAY AND LAKES REGION INC

1451 UNIVERSITY AVE
GREEN BAY,WI543021826 		    YOUTH DEVELOPMENT AND ENRICHMENT PROGRAMS 100,000

MINNESOTA PUBLIC RADIO INC

480 CEDAR ST
SAINT PAUL,MN551012230 		    NATIVE NEWS REPORTING PROJECT 75,000

CHILDREN'S HOME SOCIETY OF MINNESOTA

1605 EUSTIS ST
SAINT PAUL,MN551081219 		    FOSTER CARE ADOPTION PROGRAM 75,000

INDIGENOUS PEOPLES TASK FORCE

1335 E 23RD ST
MINNEAPOLIS,MN55404 		    NEW CONSTRUCTION 50,000

TOUCHSTONE MENTAL HEALTH

2312 SNELLING AVE
MINNEAPOLIS,MN554043157 		    LYRIC LANE 50,000

JOURNEY MENTAL HEALTH CENTER INC

25 KESSEL CT STE 105
MADISON,WI537116227 		    MENTAL HEALTH SERVICES 50,000

ONE VALLEY COMMUNITY FOUNDATION

1627 W MAIN ST PO BOX 404
BOZEMAN,MT59715 		    GENERAL OPERATIONS 50,000

NORTHERN VOICES

1660 COUNTY RD B W
ROSEVILLE,MN55113 		    GENERAL OPERATIONS AND GIFT MATCHING CAMPAIGN 50,000

HIGHLAND FRIENDSHIP CLUB

PO BOX 16437
SAINT PAUL,MN551160437 		    DISABILITY SERVICES 50,000

ST CLOUD AREA FAMILY YMCA

2001 STOCKINGER DR
SAINT CLOUD,MN563031243 		    OPERATING SUPPORT AND CAPITAL CAMPAIGN 50,000

BRIDGING INC

201 W 87TH ST
BLOOMINGTON,MN55420 		    GENERAL OPERATIONS 50,000

STEWARTVILLE PUBLIC LIBRARY

110 2ND ST SE
STEWARTVILLE,MN559761306 		    STEWARTVILLE PUBLIC LIBRARY EXPANSION PROJECT 50,000

JEWISH COMMUNITY RELATIONS COUNCIL OF MINNESOTA AND THE DAKOTAS

4330 CEDAR LAKE RD S
MINNEAPOLIS,MN554163798 		    NON-ADVOCACY EDUCATIONAL PROGRAMMING 50,000

MANKATO YOUTH PLACE INC

1315 STADIUM ROAD
MANKATO,MN560013821 		    MY NEW PLACE 50,000

BRIDGING INC

201 W 87TH ST
BLOOMINGTON,MN55420 		    GENERAL OPERATIONS 50,000

MINNESOTA COUNCIL ON FOUNDATIONS

800 WASHINGTON AVE N STE 703
MINNEAPOLIS,MN554012759 		    MEMBERSHIP 40,000

UNITED WAY OF OLMSTED COUNTY INC

903 W CENTER ST STE 100
ROCHESTER,MN559026278 		    GENERAL OPERATIONS 25,000

CHRISTIAN BROTHERS OF THE MIDWEST INC

7650 S COUNTY LINE RD
BURR RIDGE,IL60527 		    LASALLIAN INSTITUTE FOR THE FORMATION OF TEACHERS 25,000

CHURCH OF THE ASCENSION

1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 25,000

COUNCIL ON FOUNDATIONS

1255 23RD ST NW STE 200
WASHINGTON,DC200371152 		    MEMBERSHIP 25,000

GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS

1310 L ST NW STE 650
WASHINGTON,DC200054673 		    MEMBERSHIP 20,000

EVOLVE ADOPTION & FAMILY SERVICES DBA EVOLVE FAMILY SERVICES

5850 OMAHA AVE N
STILLWATER,MN550826330 		    GENERAL OPERATIONS 20,000

EAGLE MOUNT

6901 GOLDENSTEIN LN
BOZEMAN,MT597158005 		    GENERAL OPERATIONS 15,000

CANDID

PO BOX 22799
NEW YORK,NY10087 		    MEMBERSHIP 12,000

TECHNOLOGY ASSOCIATION OF GRANTMAKERS

200 W MADISON ST FL 3
CHICAGO,IL606063464 		    MEMBERSHIP 5,150

WISCONSIN PHILANTHROPY NETWORK

1345 N JEFFERSON ST BOX 324
MILWAUKEE,WI532024179 		    MEMBERSHIP 4,100

PEAK GRANTMAKING

1701 PENNSYLVANIA AVE NW STE 200
WASHINGTON,DC200065823 		    MEMBERSHIP 3,500
Total ................................. 3a 57,229,750
bApproved for future payment

UNIVERSITY OF MINNESOTA FOUNDATION
200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    COMMUNITY-UNIVERSITY HEALTH CARE CENTER CAPITAL PROJECT 1,300,000

ALLINA HEALTH FOUNDATION
2925 CHICAGO AVENUE MAIL ROUTE
10721
MINNEAPOLIS,MN55407 		    HEALTHCARE CAPITAL 1,250,000

SANFORD HEALTH FOUNDATION NORTH
736 NORTH BROADWAY
FARGO,ND58102 		    HEALTHCARE CAPITAL 1,000,000

HENNEPIN HEALTH FOUNDATION
701 PARK AVE
MINNEAPOLIS,MN554151829 		    CENTER FOR ADDICTION MEDICINE 600,000

CATHOLIC CHARITIES OF THE ARCHDIOCESE OF ST PAUL AND MINNEAPOLIS
1007 E 14TH ST
MINNEAPOLIS,MN554041314 		    TO RELIEVE POVERTY IN ST. PAUL. 500,000

GROVES ACADEMY
3200 HWY 100 S
SAINT LOUIS PARK,MN554162175 		    IMPACT COHORT 500,000

YMCA OF THE NORTHERN SKY
400 1ST AVE S
FARGO,ND581031998 		    BEMIDJI YMCA CAPITAL CAMPAIGN 500,000

GROVES ACADEMY
3200 HWY 100 S
SAINT LOUIS PARK,MN554162175 		    IMPACT COHORT 500,000

UNIVERSITY OF MINNESOTA FOUNDATION
200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    RURAL PHYSICIAN SCHOLARSHIPS 450,000

THE FRIENDS OF THE SAINT PAUL PUBLIC LIBRARY
332 MINNESOTA ST STE W1420
SAINT PAUL,MN551011333 		    TRANSFORM OUR LIBRARIES, DISCOVER OUR POSSIBILITIES 450,000

UNIVERSITY OF MINNESOTA FOUNDATION
200 OAK ST SE STE 500 MCNAMARA
ALUMNI CENTER
MINNEAPOLIS,MN554552010 		    RURAL PHYSICIAN SCHOLARSHIPS 450,000

GILLETTE CHILDREN'S HOSPITAL FOUNDATION
200 UNIVERSITY AVE E INT ZIP 010605
SAINT PAUL,MN551012507 		    CHILDREN'S SURGICAL CENTER RENOVATION 300,000

UNIVERSITY OF ST THOMAS
2115 SUMMIT AVE
SAINT PAUL,MN551051079 		    TEACHER PATHWAY SCHOLARSHIPS 250,000

TRUE FRIENDS
10509 108TH ST NW
ANNANDALE,MN553022912 		    GENERAL OPERATIONS AND CAPITAL 250,000

PACER CENTER INC
8161 NORMANDALE BLVD
MINNEAPOLIS,MN554371004 		    DISABILITY SERVICES 200,000

CONCORDIA COLLEGE
901 8TH ST S
MOORHEAD,MN565620001 		    SUPPLY OF SACRED MUSIC AND SCHOLARSHIPS 100,000

CHURCH OF THE ASCENSION
1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 100,000

CHURCH OF THE ASCENSION
1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 100,000

ROCK RIVER COMMUNITY CLINIC
1461 W MAIN ST
WHITEWATER,WI531901568 		    HEALTHCARE CAPITAL 50,000

NEIGHBORS INC
222 GRAND AVE W
SOUTH SAINT PAUL,MN550752089 		    FINANCIAL EMPOWERMENT AND LITERACY PROGRAM 50,000

HIGHLAND FRIENDSHIP CLUB
PO BOX 16437
SAINT PAUL,MN551160437 		    DISABILITY SERVICES 50,000

JEWISH COMMUNITY RELATIONS COUNCIL OF MINNESOTA AND THE DAKOTAS
4330 CEDAR LAKE RD S
MINNEAPOLIS,MN554163798 		    NON-ADVOCACY EDUCATIONAL PROGRAMMING 50,000

CHURCH OF THE ASCENSION
1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 25,000

CHURCH OF THE ASCENSION
1723 BRYANT AVE N
MINNEAPOLIS,MN554113260 		    GENERAL OPERATIONS 25,000
Total ................................. 3b 9,050,000
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
aPRI INTEREST         1,525,827
bPRI REPAYMENTS         17,361,125
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 5,282,213  
4 Dividends and interest from securities ....     14 40,450,058  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -52,158,498  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aROYALTY FEES 		    15 13,580  
bGRANT REFUNDS     25 162,472  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 -6,250,175 18,886,952
13Total. Add line 12, columns (b), (d), and (e)..................
13
12,636,777
(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.)
1 PROGRAM-RELATED INVESTMENTS ARE MADE TO ORGANIZATIONS THAT CONDUCT ACTIVITIES THAT FULFILL THE CHARITABLE PURPOSES OF THE FOUNDATION.
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:
OTTO BREMER TRUST
EIN:
41-6019050
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 355,080 177,540   177,451

TY 2025 AllOthProgRltdInvestmentsSch
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category Amount
MNI SOTA FUND BUSINESS AND CONSUMER LOANS 250,000

TY 2025 InvestmentsCorpBondsSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Name of Bond End of Year Book Value End of Year Fair Market Value
FEDERAL FARM CREDIT BANKS FUNDING CORP 2.5% 321,601 323,375
ISHARES CORE U.S. AGGREGATE BOND ETF 59,228,970 59,926,002
ISHARES 20+ YEAR TREASURY BOND ETF 25,029,439 25,464,491

TY 2025 InvestmentsCorpStockSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Name of Stock End of Year Book Value End of Year Fair Market Value
ADOBE INC 617,152 597,981
ALPHABET INC 750,190 1,363,741
ALBEMARLE CORP 645,945 709,322
AMAZON 1,099,952 1,134,942
AMERICAN EXPRESS CO 717,421 1,182,360
AMERIPRISE FINANCIAL INC 883,878 1,219,966
AMGEN INC 475,499 584,576
APPLE INC 853,256 1,602,071
ARISTA NETWORKS INC 1,139,443 1,757,112
ASML HOLDING NV 751,851 1,048,463
BATH & BODY WORKS 446,944 369,713
BLACKSTONE INC 1,121,124 1,249,151
COSTCO WHOLESALE CORP 561,723 958,060
CROWN HOLDINGS INC 470,391 501,773
DANAHER GROUP 438,811 488,286
ELI LILLY & CO 589,578 833,952
FIDELITY NATIONAL INFORMATION SERVICESINC 641,650 648,716
FPA CRESCENT FUND 12,500,000 13,869,322
GQG PARTNERS GLOBAL QUALITY EQUITYFUND 12,500,000 14,609,992
INTERNATIONAL BUSINESS MACHINES CORP 893,755 1,178,916
ISHARES MSCI ACWI ETF 17,279,461 27,395,577
ISHARES RUSSELL 2000 ETF 10,014,403 11,326,560
ISHARES RUSSELL 1000 EFT 10,012,495 11,229,341
JACOBS SOLUTIONS INC 479,231 571,168
KIMCO REALTY CORP 738,471 737,179
KLA CORP 792,321 1,060,765
MASTERCARD INC 537,950 852,324
MATERIALS SELECT SECTOR SPDR FUND 4,996,037 5,315,201
MICROSOFT CORP 624,321 1,228,878
NETFLIX INC 802,373 1,233,882
NVIDIA CORP 1,071,208 2,523,718
OLD NATIONAL BANKCORP 891,648,611 962,393,832
ORACLE CORP 1,173,784 1,295,957
PHILLIPS 66 736,707 796,822
QUANTA SERVICES INC 570,514 988,465
QUEST DIAGNOSTICS INC 645,079 648,308
ROCHE HOLDING AG 575,787 653,708
SALESFORCE INC 629,850 672,077
SHELL PLC 663,876 749,643
SPDR DOW JONES INDUSTRIAL AVERAGEETFTRUST 4,999,021 6,976,915
SPDR S&P 500 ETF TRUST 52,995,665 64,926,967
STATE STREET INDUSTRIAL SELECT SECTOR SPDR EFT 4,992,078 5,950,558
STATE STREET SPDR S&P BIOTCH ETF 5,002,231 6,849,905
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 1,136,815 2,136,954
THERMO FISHER SCIENTIFIC INC 442,412 478,626
T-MOBILE US INC 916,897 1,066,975
TOLL BROTHERS INC 415,096 605,110
WISDOMTREE CLOUD COMPUTING FUND 4,506,590 4,518,216
DICK'S SPORTING GOODS INC 891,277 881,164
KROGER CO/THE 673,520 761,569
META PLATFORMS INC 1,138,722 1,347,244
PROCTER & GAMBLE CO/THE 657,984 561,775
SOUTHERN CO/THE 537,232 622,695
TRANE TECHNOLOGIES PLC 1,014,956 1,230,650

TY 2025 InvestmentsGovtObligationsSch
Name:
OTTO BREMER TRUST
EIN:
41-6019050
US Government Securities - End of Year Book Value:

80,009,338
US Government Securities - End of Year Fair Market Value:

80,686,589
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2025 InvestmentsLandSchedule2
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
LEASEHOLD IMPROVEMENTS 2,603,501 2,258,994 344,507 344,507
FURNITURE & EQUIPMENT 1,320,122 1,248,641 71,481 71,481
FIXED ASSETS IN PROCESS 151,814 0 151,814 151,814

TY 2025 InvestmentsOtherSchedule2
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ISHARES BITCON TRUST ETF AT COST 9,673,995 9,983,870

TY 2025 LegalFeesSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL 716,726 0   1,825,540


TY 2025 OtherAssetsSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DIVIDENDS RECEIVABLE 30,194 214,950 214,950
INTEREST RECEIVABLE 346,882 507,026 507,026
OTHER ASSETS 1,500,000 0 0


TY 2025 OtherExpensesSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OFFICE SUPPLIES 265,072 0   256,950
INVESTMENT RELATED EXPENSES 430,325 430,325   0
INSURANCE 286,796 0   286,796


TY 2025 OtherIncomeSchedule2
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PRI INTEREST 1,525,827 1,525,827 1,525,827
PRI REPAYMENTS 17,361,125   17,361,125
ROYALTY FEES 13,580 13,580 13,580
GRANT REFUNDS 162,472   162,472


TY 2025 OtherIncreasesSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Description Amount
BFS TO ONB STOCK ADJUSTMENT 32,823,362


TY 2025 OtherProfessionalFeesSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL FEES 444,913 0   491,839


TY 2025 TaxesSchedule
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 4,239,797 0   0


TY 2025 TransfersFrmControlledEntities
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Name US /
Foreign Address		 EIN Description Amount
BREMER FINANCIAL CORPORATION 380 ST PETER STREET SUITE 500
ST PAUL,MN55101 		41-0715583 DIVIDENDS ON BFC "A AND "B" SHARES 0
Total     14,905,175

TY 2025 TransfersToControlledEntities
Name:
OTTO BREMER TRUST
EIN:
41-6019050
Name US /
Foreign Address		 EIN Description Amount
BREMER FINANCIAL SERVICES 8555 EAGLE POINT ROAD
LAKE ELMO,MN55042 		41-0715583 PAYMENT FOR ACCOUNTING, HR AND OTHER FINANCIAL SERVICES 47,531
Total     47,531