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
RAFT CHARITABLE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 401 E 8TH ST STE 319
  Room/suite
City or town
SIOUX FALLS
State or province
SD
Country  
ZIP or foreign postal code
571037031
A Employer identification number

37-6439235
B Telephone number (see instructions)

6053366832
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)$41,261,781J 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) 60,846
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 867,896 867,896  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,008,557
b Gross sales price for all assets on line 6a 5,902,133
7 Capital gain net income (from Part IV, line 2)... 3,008,557
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 3,937,299 3,876,453  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 192,901 77,160   115,741
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
253 253   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
52,934 4,152   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25     25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 246,113 81,565 0 115,766
25 Contributions, gifts, grants paid....... 1,630,000 1,630,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,876,113 81,565 0 1,745,766
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,061,186
b Net investment income (if negative, enter -0-) 3,794,888
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 257,719 1,077,446 1,077,446
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts 0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)   0 0
b Investments—corporate stock (attach schedule)....... 5,980,862 Click to see attachment
List of Attached Documents:
// Content
7,404,634 		15,545,090
c Investments—corporate bonds (attach schedule)....... 4,975,875 Click to see attachment
List of Attached Documents:
// Content
4,987,488 		5,048,121
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 11,403,644 Click to see attachment
List of Attached Documents:
// Content
11,204,059 		19,591,124
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 22,618,100 24,673,627 41,261,781
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 22,618,100 24,673,627
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)..... 22,618,100 24,673,627
30 Total liabilities and net assets/fund balances (see instructions). 22,618,100 24,673,627
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
22,618,100
2
Enter amount from Part I, line 27a .....................
2
2,061,186
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
24,679,286
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
5,659
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
24,673,627
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 2589.767 VANGUARD TTL STK MKT-INST   2014-02-04 2025-01-16
b 200000. GILEAD SCIENCES INC 3.5% 01 FEB 2025   2018-02-01 2025-02-03
c 200000. APPLE INC 2.5% 09 FEB 2025   2016-05-18 2025-02-10
d 745. ABBOTT LABORATORIES   2017-03-03 2025-02-25
e 1780. ALLIANT ENERGY CORP     2025-02-25
550. ALPHABET INC-CL C     2025-02-25
470. ECOLAB INC   2007-09-17 2025-02-25
1300. FASTENAL CO   2009-04-20 2025-02-25
440. FISERV INC   2009-11-10 2025-02-25
585. HONEYWELL INTERNATIONAL INC   2003-05-14 2025-02-25
575. JOHNSON & JOHNSON     2025-02-25
2580. SCHWAB (CHARLES) CORP     2025-02-25
450. SYSCO CORP   2020-06-26 2025-02-25
2320. US BANCORP     2025-02-25
700. UNITED PARCEL SERVICE-CL B     2025-02-25
2690. MEDTRONIC PLC   2015-01-27 2025-02-25
355. ABBOTT LABORATORIES   2017-03-03 2025-05-07
315. ALPHABET INC-CL C   2019-02-21 2025-05-07
15. AUTOMATIC DATA PROCESSING   2024-06-18 2025-05-07
250. AUTOMATIC DATA PROCESSING   2023-06-26 2025-05-07
395. HONEYWELL INTERNATIONAL INC   2003-05-14 2025-05-07
420. SCHWAB (CHARLES) CORP   2016-03-04 2025-05-07
3575. US BANCORP     2025-05-07
120. ULTA BEAUTY INC   2024-02-13 2025-05-07
2118.345 VANGUARD TTL STK MKT-INST   2014-02-04 2025-05-27
500. ABBOTT LABORATORIES   2017-03-03 2025-07-28
235. ALPHABET INC-CL C   2019-02-21 2025-07-28
265. AUTOMATIC DATA PROCESSING   2024-06-18 2025-07-28
450. WALT DISNEY CO/THE     2025-07-28
795. DONALDSON CO INC   2016-03-04 2025-07-28
750. PRINCIPAL FINANCIAL GROUP   2012-01-06 2025-07-28
750. US BANCORP   2003-01-23 2025-07-28
200000. BOOKING HOLDINGS INC 4.625% 13 APR 2030   2023-07-21 2025-08-22
200000. SYSCO CORPORATION 3.75% 01 OCT 2025   2017-03-20 2025-10-01
5049.249 VANGUARD TTL STK MKT-INST   2014-02-04 2025-10-16
750. ABBOTT LABORATORIES   2016-09-30 2025-10-17
400. ALPHABET INC-CL C     2025-10-17
1000. DONALDSON CO INC   2016-03-04 2025-10-17
150. ECOLAB INC   2007-09-17 2025-10-17
365. JOHNSON & JOHNSON     2025-10-17
525. QUALCOMM INC   2024-10-18 2025-10-17
910. TARGET CORP     2025-10-17
400. NVENT ELECTRIC PLC   2006-06-09 2025-10-17
250. ALPHABET INC-CL C   2017-03-03 2025-12-15
750. FASTENAL CO   2009-04-20 2025-12-15
250. JOHNSON & JOHNSON   2004-07-20 2025-12-15
75. ELI LILLY & CO   2017-07-26 2025-12-15
750. NVIDIA CORP   2019-10-30 2025-12-15
275. ROCKWELL AUTOMATION INC   2024-02-13 2025-12-15
400. UNITEDHEALTH GROUP INC     2025-12-15
(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 370,000   115,269 254,731
b 200,000   200,000  
c 200,000   197,830 2,170
d 100,644   33,790 66,854
e 113,537   94,672 18,865
98,359   35,557 62,802
125,329   20,135 105,194
97,261   11,194 86,067
101,649   5,325 96,324
124,543   13,708 110,835
95,337   35,835 59,502
203,557   78,433 125,124
33,453   24,157 9,296
106,362   69,786 36,576
82,544   38,436 44,108
241,408   198,612 42,796
47,480   16,101 31,379
47,374   17,350 30,024
4,560   3,671 889
76,002   53,907 22,095
84,662   9,256 75,406
35,107   11,553 23,554
148,062   85,832 62,230
46,969   63,395 -16,426
300,000   94,286 205,714
63,162   22,678 40,484
45,230   12,943 32,287
81,527   64,851 16,676
54,014   19,225 34,789
57,194   25,244 31,950
60,221   18,502 41,719
34,580   16,135 18,445
202,612   197,213 5,399
200,000   200,000  
800,861   224,738 576,123
96,087   31,532 64,555
100,511   16,532 83,979
82,014   31,753 50,261
41,250   6,426 34,824
70,357   22,317 48,040
85,148   89,515 -4,367
81,844   87,085 -5,241
39,456   4,414 35,042
76,848   10,333 66,515
31,880   3,229 28,651
53,537   14,045 39,492
79,308   6,122 73,186
133,048   3,813 129,235
110,660   76,282 34,378
136,585   160,559 -23,974
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       254,731
b        
c       2,170
d       66,854
e       18,865
      62,802
      105,194
      86,067
      96,324
      110,835
      59,502
      125,124
      9,296
      36,576
      44,108
      42,796
      31,379
      30,024
      889
      22,095
      75,406
      23,554
      62,230
      -16,426
      205,714
      40,484
      32,287
      16,676
      34,789
      31,950
      41,719
      18,445
      5,399
       
      576,123
      64,555
      83,979
      50,261
      34,824
      48,040
      -4,367
      -5,241
      35,042
      66,515
      28,651
      39,492
      73,186
      129,235
      34,378
      -23,974
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 3,008,557
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 52,749
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 52,749
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 52,749
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 44,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 44,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 8,749
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax0 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
MN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website address  
14
The books are in care ofDORSEY & WHITNEY TRUST COMPANY LLC Telephone no. (605) 336-6832

Located at401 E 8TH ST STE 319SIOUX FALLSSD ZIP+4571037031
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
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
DORSEY WHITNEY TRUST COMPANY LLC TRUSTEE
3 		192,901    
401 E 8TH ST STE 319
SIOUX FALLS,SD571037031
FAYE L YOUNGREN TRUSTEE
1 		0    
401 E 8TH ST STE 319
SIOUX FALLS,SD571037031
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
37,651,003
b
Average of monthly cash balances.......................
1b
1,235,689
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
38,886,692
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
38,886,692
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
583,300
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
38,303,392
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,915,170
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,915,170
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
52,749
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
52,749
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,862,421
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,862,421
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
1,862,421
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
1,745,766
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,745,766
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 1,862,421
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 1,531,737
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 0
b From 2021...... 0
c From 2022...... 0
d From 2023...... 0
e From 2024...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,745,766
a Applied to 2024, but not more than line 2a 1,531,737
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..... 214,029
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 .......... 		1,648,392
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (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

Lake Superior Youth Chorus

1200 KENWOOD AVENUE TOWER 4600
Duluth,MN55811 		N/A   GENERAL OPERATING FUND 10,000

PARABLE FUND

50 S 6TH ST STE 1500
MINNEAPOLIS,MN55402 		N/A   GENERAL OPERATING 20,000

FIRST UNITED METHODIST CHURCH OF DULUTH
FOUNDATION
230 E SKYLINE PKWY
Duluth,MN55811 		N/A   PASTOR'S FUND; GENERAL 50,000

FRIENDS OF THE HENNEPIN COUNTY LIBRARY

300 NICOLLET MALL N-290
MINNEAPOLIS,MN55401 		N/A   GENERAL OPERATING 30,000

UNITED FUND OF CUMBERLAND INC

PO BOX 134
CUMBERLAND,WI54829 		N/A   GENERAL OPERATING 50,000

KINSHIP OF CUMBERLAND

PO BOX 441
CUMBERLAND,WI54829 		N/A   GENERAL OPERATING 20,000

HAMLINE UNIVERSITY OF MINNESOTA

1536 HEWITT AVE
ST PAUL,MN55104 		N/A   100,000 UNRESTRICTED; 260,000

THE SALVATION ARMY
NORTHERN DIVISION
2445 PRIOR AVENUE NORTH
ROSEVILLE,MN55113 		N/A   GENERAL OPERATING 100,000

SCIENCE MUSEUM OF MINNESOTA

120 W KELLOGG BLVD
ST PAUL,MN55102 		N/A   GENERAL OPERATING 50,000

AMERICAN SWEDISH INSTITUTE

2600 PARK AVE
MINNEAPOLIS,MN55407 		N/A   GENERAL OPERATING 20,000

MINNESOTA HISTORICAL SOCIETY

345 KELLOGG BLVD W
ST PAUL,MN55102 		N/A   GENERAL OPERATING 50,000

TWIN CITIES PUBLIC TELEVISION INC

172 E 4TH ST
ST PAUL,MN55101 		N/A   WDSE/WRPT IN DULUTH 30,000

MINNESOTA PUBLIC RADIO

480 CEDAR ST
ST PAUL,MN55101 		N/A   WSCN IN DULUTH 100,000

Churches United in Ministry

102 W 2ND STREET
Duluth,MN55802 		N/A   GENERAL OPERATING 30,000

SAFE HAVEN SHELTER & RESOURCE CENTER

PO BOX 3558
Duluth,MN55803 		N/A   GENERAL OPERATING 30,000

CHILDREN'S SHELTER OF CEBU

3600 LEXINGTON AVE N SUITE 209
SHOREVIEW,MN55126 		N/A   GENERAL OPERATING 30,000

MINNESOTA TEEN CHALLENGE INC

740 EAST 24TH STREET
MINNEAPOLIS,MN55404 		N/A   100,000 GENERAL FUND; 230,000

FRIENDS OF THE RAMSEY COUNTY LIBRARIES

4560 VICTORIA ST N
SHOREVIEW,MN55126 		N/A   GENERAL OPERATING 30,000

Western Lake Superior Habitat for
Humanity
2105 WOODLAND AVE
Duluth,MN55803 		N/A   GENERAL OPERATING 20,000

Duluth Library Foundation

520 W SUPERIOR STREET
Duluth,MN55802 		N/A   GENERAL OPERATING 30,000

TEXTILE CENTER OF MINNESOTA

3000 UNIVERSITY AVE SE STE 100
MINNEAPOLIS,MN55414 		N/A   GENERAL OPERATING 20,000

Dwelling Place

940-44TH AVE NE UNIT 21307
Columbia Heights,MN55421 		N/A   GENERAL OPERATING 20,000

WASHINGTON COUNTY LIBRARY

8595 CENTRAL PARK PLACE
WOODBURY,MN55125 		N/A   GENERAL OPERATING 30,000

FRIENDS OF THE ST PAUL PUBLIC LIBRARY

332 MINNESOTA ST STE W1420
ST PAUL,MN55101 		N/A   GENERAL OPERATING 30,000

University of Minnesota Foundation

200 OAK ST SE STE 500
Minneapolis,MN55455 		N/A   UMF GLENSHEEN CONSERVATION 40,000

YMCA OF THE GREATER TWIN CITIES

651 NICOLLET MALL SUITE 500
MINNEAPOLIS,MN55402 		N/A   10,000 YMCA KIDS TO CAMP 20,000

MANY RIVERS MONTESSORI

110 W REDWING ST
Duluth,MN55803 		N/A   GENERAL OPERATING; BUILDING 100,000

AMERICAN RED CROSS

431 18 ST NW
WASHINGTON,DC20006 		N/A   DULUTH-AREA SUPPORT; 100,000

INTERNATIONAL JUSTICE MISSION

PO BOX 58147
WASHINGTON,DC20037 		N/A   GENERAL OPERATING 20,000

HEIFER INTERNATIONAL FOUNDATION

PO BOX 727
LITTLE ROCK,AR72203 		N/A   GENERAL OPERATING 20,000

Cumberland Tsap Library Foundation

1305 2ND AVE
Cumberland,WI54829 		N/A   GENERAL OPERATING 40,000
Total ................................. 3a 1,630,000
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
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 867,896  
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 3,008,557  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   3,876,453  
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,876,453
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed 		PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
RAFT CHARITABLE FOUNDATION
 
Employer identification number

37-6439235
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 2025) Page 2
Name of organization
RAFT CHARITABLE FOUNDATION
  		Employer identification number
37-6439235
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Faye Youngren
401 East Eighth Street
 
Sioux Falls, SD57103

$ 60,846


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
RAFT CHARITABLE FOUNDATION
  		Employer identification number

37-6439235
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 Publicly Traded Securities $ 1,382,590 2025-12-22
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
RAFT CHARITABLE FOUNDATION
  		Employer identification number

37-6439235
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


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TY 2025 InvestmentsCorpBondsSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Name of Bond End of Year Book Value End of Year Fair Market Value
037833AZ3 APPLE INC 2.5% 09 FE    
06406FAC7 BANK OF NY MELLON CO 200,032 199,237
20030NBY6 COMCAST CORP 3.3% 01 200,334 198,828
278642AW3 EBAY INC 2.7% 11 MAR 201,865 187,938
31428XBV7 FEDEX CORP 3.1% 05 A 199,992 192,363
375558AZ6 GILEAD SCIENCES INC    
46625HQW3 JPMORGAN CHASE & CO 200,035 199,769
871829AZ0 SYSCO CORPORATION 3.    
89236TDR3 TOYOTA MOTOR CREDIT 200,121 198,751
023608AJ1 AMEREN CORP 3.5% 15 183,262 192,400
316773CV0 FIFTH THIRD BANCORP 193,122 199,632
65339KCJ7 NEXTERA ENERGY CAPIT 202,025 204,854
70450YAL7 PAYPAL HOLDINGS INC 196,674 199,670
036752AW3 ELEVANCE HEALTH INC 204,673 210,813
09857LAR9 BOOKING HOLDINGS INC    
30040WAF5 EVERSOURCE ENERGY 4. 192,164 199,571
63743HFJ6 NATIONAL RURAL UTIL 200,155 205,198
92343VGT5 VERIZON COMMUNICATIO 196,068 205,490
032095AQ4 AMPHENOL CORP 5.25% 202,736 207,990
24422EWP0 JOHN DEERE CAPITAL C 200,506 200,038
49271VAU4 KEURIG DR PEPPER INC 201,181 205,518
548661EQ6 LOWE'S COS INC 5.15% 201,148 206,921
760759BH2 REPUBLIC SERVICES IN 198,480 207,175
855244BJ7 STARBUCKS CORP 5% 15 199,146 203,944
913017BJ7 RTX CORP 5.4% 01 MAY 202,894 210,625
863667BJ9 STRYKER CORP 4.85% 0 201,631 204,814
666807CC4 NORTHROP GRUMMAN COR 205,072 203,723
294429AX3 EQUIFAX INC 4.8% 15 204,172 203,363
19648P6W1 COLORADO ST HSG & FI 200,000 199,496

TY 2025 InvestmentsCorpStockSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Name of Stock End of Year Book Value End of Year Fair Market Value
002824100 ABBOTT LABORATORIES    
018802108 ALLIANT ENERGY CORP 217,387 276,292
02079K107 ALPHABET INC-CL C 69,251 549,150
09073M104 BIO-TECHNE CORP 86,703 299,931
12541W209 C.H. ROBINSON WORLDW 91,194 193,716
254687106 WALT DISNEY CO/THE 41,115 164,966
257651109 DONALDSON CO INC    
278865100 ECOLAB INC 44,536 288,772
311900104 FASTENAL CO 30,136 280,910
337738108 FISERV INC 36,344 203,189
359694106 H.B. FULLER CO. 169,758 208,110
384109104 GRACO INC 70,453 696,745
437076102 HOME DEPOT INC 16,914 232,267
438516106 HONEYWELL INTERNATIO    
440452100 HORMEL FOODS CORP 76,226 154,879
478160104 JOHNSON & JOHNSON 39,884 155,212
532457108 ELI LILLY & CO 36,731 483,606
537008104 LITTELFUSE INC 234,096 294,652
594918104 MICROSOFT CORP 938,838 1,329,955
620076307 MOTOROLA SOLUTIONS I 150,147 316,239
67066G104 NVIDIA CORP 40,677 1,492,000
74251V102 PRINCIPAL FINANCIAL    
742718109 PROCTER & GAMBLE CO/ 51,664 114,648
771195104 ROCHE HOLDINGS LTD-S 302,029 402,504
808513105 SCHWAB (CHARLES) COR    
824348106 SHERWIN-WILLIAMS CO/ 115,912 194,418
871829107 SYSCO CORP    
87612E106 TARGET CORP    
880345103 TENNANT CO 166,412 157,718
891092108 TORO CO 349,280 377,069
902973304 US BANCORP    
911312106 UNITED PARCEL SERVIC    
91324P102 UNITEDHEALTH GROUP I 329,044 396,132
92826C839 VISA INC-CLASS A SHA    
949746101 WELLS FARGO & CO 109,343 419,400
G5960L103 MEDTRONIC PLC    
G6700G107 NVENT ELECTRIC PLC 25,230 285,516
747525103 QUALCOMM INC 134,130 171,050
29362U104 ENTEGRIS INC 163,804 137,749
457730109 INSPIRE MEDICAL SYST 24,846 13,834
46625H100 JPMORGAN CHASE & CO 125,636 257,776
773903109 ROCKWELL AUTOMATION    
98139A105 WORKIVA INC    
053015103 AUTOMATIC DATA PROCE    
882508104 TEXAS INSTRUMENTS IN    
023135106 AMAZON.COM INC    
500754106 KRAFT HEINZ CO/THE    
90384S303 ULTA BEAUTY INC    
92343V104 VERIZON COMMUNICATIO 159,214 152,737
420261109 HAWKINS INC 60,846 1,362,355
023135106 AMAZON.COM INC 858,129 975,215
92826C839 VISA INC 246,562 473,459
30303M102 META PLATFORMS INC 351,212 363,050
92939U106 WEC ENERGY GROUP INC 289,060 276,833
874039100 TAIWAN SEMICONDUCTOR 154,569 258,307
773903109 ROCKWELL AUTOMATION 100,026 194,535
92343V104 VERIZON COMMUNICATIO    
882508104 TEXAS INSTRUMENTS IN 110,402 124,045
500754106 KRAFT HEINZ CO/THE 153,678 109,125
037833100 APPLE INC 99,854 108,744
79466L302 SALESFORCE INC 99,829 105,964
002824100 ABBOTT LABORATORIES 31,532 93,968
98978V103 ZOETIS INC 69,187 72,347
46120E602 INTUITIVE SURGICAL I 69,290 70,795
451107106 IDACORP INC 67,234 69,608
98139A105 WORKIVA INC 57,738 69,000
697435105 PALO ALTO NETWORKS I 69,963 62,628
192422103 COGNEX CORP 68,589 53,970

TY 2025 InvestmentsOtherSchedule2
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
VANGUARD TOTAL BD MKT IDX ADM AT COST 7,821,787 7,095,738
VANGUARD TOTAL STK MKT INDEX F AT COST 3,382,272 12,495,386

TY 2025 OtherDecreasesSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Description Amount
BOOK / TAX TIMING DIFFERENCES 5,659


TY 2025 OtherExpensesSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE RE-REGISTRATION FEE 25 0   25


TY 2025 OtherProfessionalFeesSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT EXPENSES 253 253    


TY 2025 TaxesSchedule
Name:
RAFT CHARITABLE FOUNDATION
EIN:
37-6439235
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 4,152 4,152   0
FEDERAL TAX PAYMENT 4,782 0   0
FEDERAL ESTIMATES 44,000 0   0