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          <RecipientBusinessName>
            <BusinessNameLine1Txt>CITY OF AITKIN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>109 1ST AVE NW</AddressLine1Txt>
            <CityNm>AITKIN</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>56431</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>LUMBER FOR PLAYGROUND</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>STOP SOLDIER SUICIDE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>5400 ELLA BURKE CT</AddressLine1Txt>
            <CityNm>RALEIGH</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27606</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>DONATION</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>RIPPLESIDE ELEMENTARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>225 2ND AVE SW</AddressLine1Txt>
            <CityNm>AITKIN</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>56431</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>BOOKS</GrantOrContributionPurposeTxt>
          <Amt>500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AITKIN QUARTERBACKS CLUB</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 183</AddressLine1Txt>
            <CityNm>AITKIN</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>56431</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FIELD MAINTENANCE</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>28000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <ProgramServiceRevenueDtl>
          <Desc>AITKIN TOWNHOMES</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>151604</ExclusionAmt>
        </ProgramServiceRevenueDtl>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>19997</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>-24348</ExclusionAmt>
        </NetRntlIncmReDebtFincdPropGrp>
        <OtherRevenueDescribedGrp>
          <Desc>MISCELLANEOUS REVENUE</Desc>
          <RelatedOrExemptFunctionIncmAmt>175</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>147257</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>175</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>147432</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>1A</LineNumberTxt>
          <RelationshipStatementTxt>LOW RENT</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>3</LineNumberTxt>
          <RelationshipStatementTxt>CHARITABLE CONTRIBUTIONS</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>4</LineNumberTxt>
          <RelationshipStatementTxt>CHARITABLE CONTRIBUTIONS</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>
        <Amt>150</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc5">
      <InvestmentsCorporateStockGrp>
        <StockNm>STOCK AMERICAN BANCORPORATION</StockNm>
        <EOYBookValueAmt>82241</EOYBookValueAmt>
        <EOYFMVAmt>467905</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsLandSchedule2 documentId="RetDoc6">
      <InvestmentLandGrp>
        <CategoryOrItemTxt>COMMERCE BUILDING</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1528735</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>707975</AccumulatedDepreciationAmt>
        <BookValueAmt>820760</BookValueAmt>
        <EOYFMVAmt>696200</EOYFMVAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>TOWNHOMES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1147603</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1046427</AccumulatedDepreciationAmt>
        <BookValueAmt>101176</BookValueAmt>
        <EOYFMVAmt>1297600</EOYFMVAmt>
      </InvestmentLandGrp>
      <InvestmentLandGrp>
        <CategoryOrItemTxt>TOWNHOME LAND</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>68357</CostOrOtherBasisAmt>
        <BookValueAmt>68357</BookValueAmt>
      </InvestmentLandGrp>
    </InvestmentsLandSchedule2>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MINERAL RIGHTS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>104364</BookValueAmt>
        <EOYFMVAmt>53000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <MortgagesAndNotesPayableSch documentId="RetDoc3">
      <NotePayableGrp>
        <LenderNameGrp>
          <PersonNm>SECURITY STATE BANK</PersonNm>
        </LenderNameGrp>
        <TitleTxt>7330</TitleTxt>
        <InsiderRelationshipTxt>NONE</InsiderRelationshipTxt>
        <LoanOriginalAmt>456470</LoanOriginalAmt>
        <BalanceDueAmt>405023</BalanceDueAmt>
        <NoteDt>2019-07</NoteDt>
        <LoanMaturityDt>1939-08</LoanMaturityDt>
        <RepaymentTermsTxt>3430 PER MONTH</RepaymentTermsTxt>
        <InterestRt>0.0700</InterestRt>
        <SecurityProvidedBorrowerTxt>AITKIN TOWNHOUSES</SecurityProvidedBorrowerTxt>
        <LoanPurposeTxt>REFINANCE TOWNHOUSES</LoanPurposeTxt>
      </NotePayableGrp>
      <NotePayableGrp>
        <LenderNameGrp>
          <PersonNm>SECURITY STATE BANK</PersonNm>
        </LenderNameGrp>
        <TitleTxt>9269</TitleTxt>
        <InsiderRelationshipTxt>NONE</InsiderRelationshipTxt>
        <BalanceDueAmt>221070</BalanceDueAmt>
        <RepaymentTermsTxt>4500 PER MONTH</RepaymentTermsTxt>
        <InterestRt>0.0600</InterestRt>
        <SecurityProvidedBorrowerTxt>COMMERCE BUILDING</SecurityProvidedBorrowerTxt>
        <LoanPurposeTxt>BUILD COMMERCE BUILDING</LoanPurposeTxt>
      </NotePayableGrp>
    </MortgagesAndNotesPayableSch>
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      <OtherDecreasesDetail>
        <Desc>CURRENT YEAR ADJUSTMENT</Desc>
        <Amt>74</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc9">
      <OtherExpensesScheduleGrp>
        <Desc>AITKIN TOWNHOMES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PROFESSIONAL AND LEGAL FEES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES &amp; POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>1057</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL</Desc>
        <RevenueAndExpensesPerBooksAmt>8400</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INTERNET/TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>1018</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LICENSES &amp; REGISTRATION</Desc>
        <RevenueAndExpensesPerBooksAmt>93</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>16162</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>REPAIRS &amp; MAINTENANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>17398</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LAWN CARE &amp; SNOW REMOVAL</Desc>
        <RevenueAndExpensesPerBooksAmt>24536</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT DEPRECIATION</Desc>
        <RevenueAndExpensesPerBooksAmt>41003</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMMERCE BUILDING</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADVERTISING</Desc>
        <RevenueAndExpensesPerBooksAmt>229</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>229</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES &amp; POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>132</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>132</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL</Desc>
        <RevenueAndExpensesPerBooksAmt>5600</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5600</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INTERNET/TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>678</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>678</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LICENSES &amp; REGISTRATION</Desc>
        <RevenueAndExpensesPerBooksAmt>93</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>93</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>4041</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4041</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>REPAIRS &amp; MAINTENANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>11586</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>11586</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LAWN CARE &amp; SNOW REMOVAL</Desc>
        <RevenueAndExpensesPerBooksAmt>11470</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>11470</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>UTILITIES</Desc>
        <RevenueAndExpensesPerBooksAmt>22771</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>22771</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT DEPRECIATION</Desc>
        <RevenueAndExpensesPerBooksAmt>33029</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>33029</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>37</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES &amp; POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>132</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INTERNET/TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>1696</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>WORKER'S COMP INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>326</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>JANITORIAL</Desc>
        <RevenueAndExpensesPerBooksAmt>2649</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>-1450</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc10">
      <OtherIncomeDetail>
        <Desc>AITKIN TOWNHOMES</Desc>
        <RevenueAndExpensesPerBooksAmt>151604</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MISCELLANEOUS REVENUE</Desc>
        <RevenueAndExpensesPerBooksAmt>175</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="RetDoc11">
      <TaxesDetail>
        <Amt>1067</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>AITKIN TOWNHOMES</CategoryTxt>
        <Amt>26224</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>COMMERCE BUILDING</CategoryTxt>
        <Amt>25717</Amt>
        <NetInvestmentIncomeAmt>25717</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
