2026-04-24T15:40:16-05:00 2025-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990PF 2025-01-01 411894134 Kendrick B Melrose Family Foundation KEND 7635458667 115 Balsam Lane N Plymouth MN 55441 David Zaudtke Treasurer 7635458667 2026-04-20 1 Deb Nelson CPA P01264758 6122536500 2026-04-16 2025 2025-03-06 01:10:19Z X 74588795 X 17445 1458302 1458302 1238538 10564120 1238538 6775 6775 2721060 2703615 326000 104000 114000 424201 424201 0 40962 10092 0 1735 0 1735 792898 538293 115735 3515700 3515700 4308598 538293 3631435 -1587538 2165322 1371175 781447 781447 2503650 2598340 2648902 7854457 8165456 24035905 1911878 1934356 2012621 35562019 34144617 45109920 49203179 47624216 74588795 0 0 X 0 0 0 0 49203179 47624216 49203179 47624216 49203179 47624216 49203179 -1587538 8575 47624216 0 47624216 MorganStanley 2765220 2305366 459854 459854 Wells Fargo 7480880 7020216 460664 460664 Capital Gains Dividends P 318020 318020 318020 1238538 30098 0 30098 0 30098 18000 0 0 0 18000 X 591 12689 0 0 0 0 0 0 0 0 0 0 1 1 MN 1 0 0 0 0 1 N/A Kendrick B Melrose Family Foundati 7635458667 115 Balsam Lane N Plymouth MN 55441 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Edward A Arndt 115 Balsam Lane N Plymouth MN 55441 Chair/President 5.00 110000 0 0 David Zaudtke 115 Balsam Lane N Plymouth MN 55441 Treasurer 5.00 108000 0 0 Laurie Rivard 115 Balsam Lane N Plymouth MN 55441 Secretary 5.00 108000 0 0 NONE 0 Wells Fargo 90 South 7th Street MAC N9305-111 Minneapolis MN 55402 Investment management 321101 MorganStanley 445 East Lake Street Suite 320 Wayzata MN 55391 Investment management 103100 0 0 66851041 1582729 0 68433770 0 0 68433770 1026507 67407263 3370363 3370363 30098 30098 3340265 0 3340265 0 3340265 3631435 0 3631435 3340265 0 0 839969 839969 3631435 0 0 0 3340265 291170 0 0 1131139 0 0 0 0 0 0 0 1131139 839969 291170 X Alzheimers Association Minnesota-North Dakota Chapter 12701 Whitewater Drive Suite 290 Minnetonka MN 55343 None PC General Purpose 75000 American Bear Association PO Box 77 Orr MN 55771 None PC General Purpose 15000 Barrier Free Golf 1110 Yellow Brick Rd Chaska MN 55318 None PC General Purpose 5000 Catholic Community Foundation Court West Suite 500 2610 Universit Avenue West St Paul MN 55114 None PC Annunciation Hope and Healing Fund 15000 GCSAA Foundation 1421 Research Park Dr Lawrence KS 66049 None PC To support and strengthen advocacy, education, and research that advances the work of golf course management professionals. 1000000 Giving Voice Initiative 7400 Metro Boulevard Suite 255 Edina MN 55439 None PC General Purpose 12600 Good Cities 7340 Hunters Run Eden Prairie MN 55346 None PC General Purpose 8500 Helping Paws Inc 630 12th Ave S PO Box 634 Hopkins MN 55343 None PC General Purpose 82500 Hill Cities 4440 2-1/2 Street NE Minneapolis MN 55421 None PC General Purpose 12600 Minnesota Public Radio 480 Cedar Street St Paul MN 55101 None PC General Purpose 15000 MN Veterans Pantry 4979 Olson Memorial Hwy Ste 101 Minneapolis MN 55422 None PC General Purpose 30500 No Barriers USA 605 South College Avenue 101 Fort Collins CO 80524 None PC General Purpose 126000 Open Arms of Minnesota 2500 Bloomington Ave Minneapolis MN 55404 None PC General Purpose 10000 Park Nicollet Foundation 6500 Excelsior Blvd St Louis Park MN 55426 None PC Melrose East St. Paul location expansion 1068000 Twin Cities Public Television 172 4th St E St Paul MN 55101 None PC General Purpose 15000 Waimea Community Theater 67-1185 Mamalahoa Hwy Unit D104 PMB 389 Kamuela HI 96743 None PC General Purpose 25000 Wayzata Community Church 125 Wayzata Blvd East Wayzata MN 553911596 None PC General Purpose 1000000 3515700 0 14 1458302 14 6775 18 1238538 0 2703615 0 2703615 0 0 0 0 0 0 0 0 0 0 X X 1 Kendrick B Melrose Irrevocable Trust 115 Balsom Lane N Plymouth MN 554416003 17445 X ABBVIE INC 44849 48489 AMAZON.COM INC 47614 49594 AMERICAN EXPRESS CO 45472 45690 AMGEN INC 50833 51862 ANHEUSER-BUSCH INBEV WOR 49907 51008 ANTHEM INC 35950 38128 APPLE INC 48461 49950 AT&T INC 50101 51843 BOEING CO 46003 49905 CANADIAN IMPERIAL BANK 64706 67311 CITIGROUP INC 46660 49992 CVS HEAL TH CORP 48492 50166 DUKE ENERGY CORP 42294 44852 FISERV INC 46202 48488 GENERAL MILLS INC 39330 40130 GILEAD SCIENCES INC 79284 79965 GOLDMAN SACHS GROUP INC 66041 69092 HOME DEPOT INC 45172 47069 JPMORGAN.CHASE & CO 54892 59649 KEURIG DR PEPPER .INC 46608 48060 LLOYDS BANKING GROUP PLC 44064 44928 LOCKHEEDMARTIN CORP 51348 51198 LOWE'S COS INC 43069 45872 MASTERCARD INC 42029 44858 MCKESSON CORP 45319 46496 MERCK & CO INC 41885 44514 META PLATFORMS INC 49969 50922 MORGAN STANLEY 46593 49658 NASDAQ INC 45630 46436 NEXTERA ENERGY CAPITAL 45346 45831 NORTHROP GRUMMAN CORP 47311 49359 PEPSICO INC 70748 72108 PFIZER INVESTMENT ENTER 49755 50663 RTXCORP 32118 35113 STARBUCKS CORP 34984 36851 STATE STREET CORP 31465 35992 SUMITOMO MITSUI FINL GRP 45872 46348 SYSCO CORPORATION 48095 49824 TEXAS INSTRUMENTS INC 39515 41266 UNITEDHEALTH GROUP INC 51851 52093 VERIZON COMMUNICATIONS 28519 31048 ALPHABET INC CL C 547487 2598264 AMPHENOL CORP CL A 249972 1593571 APPLE INC 672123 2509812 Berkshire Hathaway 393412 941966 BERKSHIRE HATHAWAY INC. 271586 753975 BLACKROCK INC 286484 634712 Brookfield Asset Management 38770 92521 Brookfield Corp 505722 965985 Brookfield Renewable Power 99350 147877 CHEVRON CORP 194342 330577 Farmland Partners 32147 50766 GOLDMAN SACHS GROUP INC 294387 1469688 Granite Point Mortgage 61464 53158 JPMORGAN CHASE & CO 397092 1386835 MASTERCARD INC 705267 1499131 MICROSOFT CORP 545313 1495353 RESMED INC 395800 602175 S&P GLOBAL INC 170857 388284 TAIWAN SEMICONDUCTOR MANUFACTU -ADR 660354 3875813 THERMO FISHER SCIENTIFIC INC 577929 1016935 UNITEDHEALTH GROUP INC 758740 792264 WALMART INC 306858 836243 2598340 2648902 0 0 AMERICAN EXPRESS CREDIT ACCOUN AT COST 100688 101618 Baron Global Opportunity AT COST 517591 659497 CTR Coast Brkfld Mdstrm AT COST 56403 74309 DoubleLine Income AT COST 54529 52034 DoubleLine Total Return AT COST 201867 183032 Eaton Vance AT COST 93165 92371 EV Sht Duration Govt Inc AT COST 554095 531939 First Trust AT COST 65451 74280 I SHARES CORES & P 500 ETF AT COST 6117487 10452184 I SHARES CORES&P MID-CAP. ETF AT COST 1919191 2409000 I SHARES RUSSELL 2000 ETF AT COST 1190669 1329264 INVESCO QQQ TRUST SERIES 1 AT COST 1112397 1351482 Ishares 0-3 Month Treasury AT COST 963553 962745 ISHARES COREMSCI EAFE ETF AT COST 5283752 6494796 ISHARES MBs ETF AT COST 112193 114264 Ishares Russell Top 200 AT COST 414760 1207458 Kinetics Paradigm INST AT COST 189815 542000 MSF INTL Diversification AT COST 674558 880606 NH Credit Partners II AT COST 42480 140334 Oaktree Specialty Lending AT COST 166063 139312 PIMCO HIGH YIELD FUND AT COST 843500 855777 Pimco Income AT COST 261236 265154 PRINCIPAL MIDCAP FUND AT COST 2000000 2129696 PRINCIPAL PREFERRED SECURITIES FUND AT COST 2736000 2635731 ProShares S&P500 Div Arist AT COST 822357 1033103 SPOR S &P 500 ETFTRUST AT COST 510843 1227456 State Street SPDR AT COST 642805 655290 T ROWEPRICE INSTITUTIONAL FLOAT AT COST 850000 847302 Thornburg Strategic AT COST 252612 256403 Vanguard Dividend Appreciation AT COST 631058 1245933 Vanguard Small Cap AT COST 229419 393632 Vanguard Total Bond AT COST 257691 255690 VANGUARD TOTAL BOND MARKETINDEX AT COST 1400000 1432251 VANGUARDHSE EMERGINGMARKETS ETF AT COST 1495463 2019166 VIRTUS KAR SMALLCAP CORE FUND AT COST 844351 938620 Wisomtree US Large Cap Div AT COST 536575 1126191 MN Filing Fee 25 0 25 Miscellaneous Expense 1710 0 1710 Other Investment Income 6775 6775 6775 Cost Basis Adjustment 8575 Investment Management Fees 424201 424201 0 Excise Tax 12870 0 0 Estimated Tax 18000 0 0 Foreign Tax 10092 10092 0