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        <Description1Txt>The Directors of the Foundation have determined that it is in the best interest of the Foundation to make contributions directly to two local school districts entities, Bishop Garrigan High School and the Algona Community Community School Foundation, to be utilized as conduits to provide financial assistance in the form of scholarships for Algona/Kossuth County, Iowa, area students. Bishop Garrigan High School is a nonprofit educational institution. The Algona Community School Foundation is a Type I supporting organization for the Algona Community School District. The number and size of the grants are determined by said schools after consultation with our Board.The Foundation monitors the distribution of the scholarships to assure that the funds are utilized for the advancement of education under the standards established for selecting recipients specified in the Foundation's Bylaws and approved by Internal Revenue Service. The Foundation also provides guidelines regarding the number o</Description1Txt>
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          <RecipientPersonNm>BISHOP GARRIGAN HIGH SCHOOL</RecipientPersonNm>
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            <AddressLine1Txt>1224 N MCCOY</AddressLine1Txt>
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            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50511</ZIPCd>
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          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>207500</Amt>
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          <RecipientPersonNm>ALGONA COMMUNITY SCHOOL FOUNDATION</RecipientPersonNm>
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            <AddressLine1Txt>601 S HALE ST</AddressLine1Txt>
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            <ZIPCd>50511</ZIPCd>
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          <RecipientFoundationStatusTxt>509(A)(3)</RecipientFoundationStatusTxt>
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        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>415000</TotalGrantOrContriPdDurYrAmt>
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      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>150</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
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          <ExclusionAmt>128329</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>97935</ExclusionAmt>
        </NetRntlIncmReNotDebtFincdProp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>72607</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>226414</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>72607</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>299021</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>3 &amp; 4</LineNumberTxt>
          <RelationshipStatementTxt>Allowed organization to meet purpose of providing scholarships for advancing education.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>5(b)</LineNumberTxt>
          <RelationshipStatementTxt>Net farm rental for same purpose as above.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>Gain from sale of investments---Proceeds reinvested to generate return to fund scholarships.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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>
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      <AccountingFeesDetail>
        <CategoryTxt>IOWA STATE BANK ACCOUNTING</CategoryTxt>
        <Amt>8000</Amt>
        <NetInvestmentIncomeAmt>4000</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4000</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsLandSchedule2 documentId="InvestmentsLandSchedule2" softwareId="23017517" softwareVersionNum="2023v5.0">
      <InvestmentLandGrp>
        <CategoryOrItemTxt>Land</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>390536</CostOrOtherBasisAmt>
        <BookValueAmt>390536</BookValueAmt>
        <EOYFMVAmt>4123894</EOYFMVAmt>
      </InvestmentLandGrp>
    </InvestmentsLandSchedule2>
    <LegalFeesSchedule documentId="LegalFeesSchedule" softwareId="23017517" softwareVersionNum="2023v5.0">
      <LegalFeesGrp>
        <CategoryTxt>TAX PREP</CategoryTxt>
        <LegalFeesAmt>1700</LegalFeesAmt>
        <NetInvestmentIncomeAmt>680</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1020</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="23017517" softwareVersionNum="2023v5.0">
      <OtherExpensesScheduleGrp>
        <Desc>Rental Expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>11257</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>11257</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule" softwareId="23017517" softwareVersionNum="2023v5.0">
      <OtherIncreasesDetail>
        <Desc>ACCT ADJ/BASIS ADJ</Desc>
        <Amt>22275</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>CH SCHWAB (NON DIVIDEND DISTR)</Desc>
        <Amt>256</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>TD AMERITRD (NON DIVIDEND DISTR)</Desc>
        <Amt>713</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="23017517" softwareVersionNum="2023v5.0">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGER</CategoryTxt>
        <Amt>20205</Amt>
        <NetInvestmentIncomeAmt>20205</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>SELECTION COMMITTEE</CategoryTxt>
        <Amt>3500</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3500</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="23017517" softwareVersionNum="2023v5.0">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>2600</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
