﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-03-17T11:04:43-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>411227298</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CUMMINGS KEEGAN &amp; CO PLLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>600 HIGHWAY 169 S STE 1400</AddressLine1Txt>
        <CityNm>SAINT LOUIS PARK</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>554261218</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>860820737</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>SEIBERLICH FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SEIB</BusinessNameControlTxt>
      <PhoneNum>6512388723</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1002 3RD AVE S</AddressLine1Txt>
        <CityNm>STILLWATER</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>55082</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ANGELA SEIBERLICH</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>6512755194</PhoneNum>
      <SignatureDt>2026-03-04</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>MARYGEN HOEHN REUTZEL</PreparerPersonNm>
      <PTIN>P00071570</PTIN>
      <PhoneNum>9523452500</PhoneNum>
      <PreparationDt>2026-03-04</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="RetDoc11">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2225162</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>2546</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>2546</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>2546</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>54776</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>54776</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>54776</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc2">147009</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>200038</GrossSalesPriceAmt>
        <TotalRevAndExpnssAmt>204331</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>57322</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>57322</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">2885</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2885</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>2885</AccountingFeesAdjNetIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc7">93</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>93</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>93</OtherProfFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc8">775</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>775</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>775</TaxesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>3753</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>3753</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>3753</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>224500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>224500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>228253</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>3753</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>3753</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>224500</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-23922</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>53569</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>53569</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>-44020</CashBOYAmt>
        <CashEOYAmt>248</CashEOYAmt>
        <CashEOYFMVAmt>248</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>130000</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>66157</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>66157</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>48548</USGovernmentObligationsBOYAmt>
        <CorporateStockBOYAmt>40694</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc3">37665</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2008719</CorporateStockEOYFMVAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc4">150038</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc4">150038</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>175222</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>254108</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2225162</TotalAssetsEOYFMVAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc6">57575</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc6">160275</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>57575</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>160275</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>117647</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>93833</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>117647</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>93833</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>175222</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>254108</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>117647</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-23922</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc5">108</OtherIncreasesAmt>
        <SubtotalAmt>93833</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>93833</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>745</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>745</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>745</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>723</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>723</TotalPaymentsAndCreditsAmt>
        <TaxDueAmt>22</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MN</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>ANGELA SEIBERLICH</IndividualWithBooksNm>
        <PhoneNum>6512388723</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1002 3RD AVE S</AddressLine1Txt>
          <CityNm>STILLWATER</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55082</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LIZABETH L ERICKSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>16 E PLEASANT LAKE RD</AddressLine1Txt>
            <CityNm>NORTH OAKS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55127</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TOBY SEIBERLICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>13503 W MEDLOCK DR</AddressLine1Txt>
            <CityNm>LITCHFIELD</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85340</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANGELA SEIBERLICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>1002 3RD AVE S</AddressLine1Txt>
            <CityNm>STILLWATER</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55082</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2296995</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>62106</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2359101</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2359101</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>35387</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2323714</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>116186</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>116186</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>745</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>745</TotalTaxAmt>
        <DistributableBeforeAdjAmt>115441</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>115441</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>115441</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>224500</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>224500</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>115441</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr3Amt>8863</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>8772</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>14365</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>32000</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>224500</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>115441</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>109059</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>141059</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>141059</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>8863</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>8772</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>14365</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>109059</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICA WALKS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 30833</AddressLine1Txt>
            <CityNm>SEATTLE</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98113</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BRIDGE TO BRIGHTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3158 WAUCHEETA TRL</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53711</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FISHER HOUSE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 791598</AddressLine1Txt>
            <CityNm>BALTIMORE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21279</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>13500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>HOPE 4 TANZANIA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1004 5TH ST N</AddressLine1Txt>
            <CityNm>STILLWATER</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55082</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>K9 WARRIORS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>114 CAMP K9 ROAD</AddressLine1Txt>
            <CityNm>PONTE VEDRA</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32081</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>12000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MS SOCIETY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 88540</AddressLine1Txt>
            <CityNm>CAROL STREAM</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60188</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>15000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PARK NICOLET FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6500 EXCELSIOR BLVD</AddressLine1Txt>
            <CityNm>ST LOUIS PARK</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>554264702</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>13500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>RUNNING REBELS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>225 W CAPITOL DR</AddressLine1Txt>
            <CityNm>MILWAUKEE</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53212</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SILVER LINING RIDING</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 8</AddressLine1Txt>
            <CityNm>WADDELL</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85355</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>57000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STILLWATER LIBRARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>224 N THIRD ST</AddressLine1Txt>
            <CityNm>STILLWATER</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55082</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>20000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ST ODILIA SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3495 N VICTORIA</AddressLine1Txt>
            <CityNm>SHOREVIEW</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>551263895</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>3500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STREET ANGELS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>125 N 120TH ST</AddressLine1Txt>
            <CityNm>WAUWATOSA</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53226</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TORINO GRACE HIGH SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1350 GARDENA AVE NE</AddressLine1Txt>
            <CityNm>FRIDLEY</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55432</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNDERDOG RESCUE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 16453</AddressLine1Txt>
            <CityNm>ST LOUIS PARK</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55416</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WALKERS POINT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1123 N WATER STREET</AddressLine1Txt>
            <AddressLine2Txt>STE 400</AddressLine2Txt>
            <CityNm>MILWAUKEE</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53202</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>CHARITABLE CONTRIBUTION</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>224500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2546</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>54776</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>147009</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>204331</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>204331</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>2885</Amt>
        <NetInvestmentIncomeAmt>2885</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2885</AdjustedNetIncomeAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>50,000 US TREASURY NT MATURED</AssetDesc>
        <AcquiredDt>2022-06</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2025-08</SoldDt>
        <GrossSalesPriceAmt>50000</GrossSalesPriceAmt>
        <BasisAmt>50000</BasisAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>453 SHS UNITED HEALTH GROUP</AssetDesc>
        <AcquiredDt>1997-02</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2025-12</SoldDt>
        <GrossSalesPriceAmt>150038</GrossSalesPriceAmt>
        <BasisAmt>3029</BasisAmt>
        <TotalNetAmt>147009</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="RetDoc3">
      <InvestmentsCorporateStockGrp>
        <StockNm>5,632 SHS UNITED HEALTHCARE</StockNm>
        <EOYBookValueAmt>37665</EOYBookValueAmt>
        <EOYFMVAmt>2008719</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherAssetsSchedule documentId="RetDoc4">
      <OtherAssetsScheduleGrp>
        <Desc>DEPOSIT IN TRANSIT</Desc>
        <EOYBookValueAmt>150038</EOYBookValueAmt>
        <EOYFMVAmt>150038</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherIncreasesSchedule documentId="RetDoc5">
      <OtherIncreasesDetail>
        <Desc>CASH ACCOUNT ADJUSTMENT</Desc>
        <Amt>108</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc6">
      <OtherLiabilitiesDetail>
        <Desc>DONATION CHECKS UNCLEARED</Desc>
        <BOYBookValueAmt>52800</BOYBookValueAmt>
        <EOYBookValueAmt>155500</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>FEE PAYABLE</Desc>
        <BOYBookValueAmt>4775</BOYBookValueAmt>
        <EOYBookValueAmt>4775</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc7">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CHARLES SCHWAB ADVISOR FEES</CategoryTxt>
        <Amt>93</Amt>
        <NetInvestmentIncomeAmt>93</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>93</AdjustedNetIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc8">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX</CategoryTxt>
        <Amt>750</Amt>
        <NetInvestmentIncomeAmt>750</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>750</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>OFFICE OF ATTY GENERAL</CategoryTxt>
        <Amt>25</Amt>
        <NetInvestmentIncomeAmt>25</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>25</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>