ALEX STERN FAMILY FOUNDATION990s.foundationcenter.org/990pf_pdf_archive/456/...3 Averagedistribution ratio for the 5-year base period-divide the total on line 2 by5, or bythe numberof

0169

Form 990-PFReturn of Private Foundation

or Section 4947(a)(1) Nonexempt Charitable Trust

Treated as a Private Foundation 2007Department of the TreasuryInternal Revenue Service The foundation may be able to use a copy of this return to satisfy state

For calendar year 2007 , or tax year beg innin g and endin

G Check all that apply. Initial return Final return Amended return Address change Name change

Use the IRS Name of foundation A Employer identification number

label. 45-6013981Otherwise , ALEX STERN FAMILY FOUNDATION B Telephone number (see page 10 of the instructions)

print Number and street (or P 0 box number if mail is not delivered to street address) Room/su i te 701-237-0170

or type. 4152 30TH AVENUE SOUTH 102 C If exemption application is pending, check here ►See Specific City or town, state, and ZIP code D 1. Foreign organizations, check here ►Instructions . FARGO ND 58104-8403 2. Foreign organizations meeting the

H Check type of organization' Section 501(c)(3 exempt private foundation 85% test, check here and attach computation ► L

Section 4947 ( a )( 1 ) nonexem pt charitable trust X Other taxable private foundation E If private foundation status was terminatedunder section 507(b)(1)(A) check here ► CI Fair market value of all assets at end J Accounting method X Cash Accrual ,

of year (from Part II, col (c), 11 Other (specify) F If the foundation is in a 60-month termination

►line 16 ) ► $ 10 , 156 , 203 ( Part I, column ( d ) must be on cash basis under section 507(b)(1((B), check here

Part I Analysis of Revenue and Expenses (The (a) Revenue and (d) Disbursements

total of amounts in columns (b), (c), and (d) may not necessarily expenses per (b) Net investment (c) Adjusted net for charitable

equal the amounts in column (a) (see pg 11 of the Instructions))books income income purposes

(cash basis onl y)

I Contributions, gifts, grants, etc , received (attach schedule)

2 Check ► if the foundation is not required to attach Sch B

..

........,,

3 Interest on savings and temporary cash investments 21 , 088 21 088

4 Dividends and interest from securities 52365 352 3655a Gross rents

y b Net rental income or (loss)

6a Net gain or (loss) from sale of assets not on line 10 9 6 7 9 6b Gross sales price for all assets on line 6a 4 , 3 7 5 , 3 6 7

7 Capital gain net income (from Part IV, line 2) 396 796

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 throw h 11 70 249 770 , 249 013 Compensation of officers, directors, trustees, etc 24 , 000 4 , 800 19 , 200

N 14 Other employee salaries and wages

y 15 Pension plans, employee benefits

x 16a Legal fees (attach schedule)

W b Accounting fees (attach schedule) Stmt 1 2 , 440 2 440. c Other professional fees (attach schedule Stmt 2 53 , 120 53 , 120

17 I eres

1 s T es (attach s edule s s ons) Stmt 3s 16 , 898 1 , 538 934

19 D pre ahon (attach schedule) and de I n

20 O anc AY 14 2008 5 , 00021 T vel conferences, and meetm sCr-

22 P tang apd s

CD 23 lam' Stmt 4 2 , 256 145 81124 Total operating and administrative expenses.

y Add lines 13 through 23 103 , 714 62 043 20 , 94525 Contributions, gifts, grants paid 474 , 172 474 , 172

26 Total expenses and disbursements . Add lines 24 and 25 577 4 886 62 4 043 0 495 1 11727 Subtract line 26 from line 12:

a Excess of revenue over expenses and disbursements 192 4 363_b Net investment income (if negative, enter -0-) 708 , 206 1 T

c Adjusted net income If neg ative, enter -0- 0

For Privacy Act and Paperwork Reduction Act Notice , see page 30 of the instructions.

DAA

Form 990-PF (2007)

a5

0169 `

FnrmQQrl_PFl9M71 ALEX STERN FAMILY FOUNDATION 45-6013981 Pane 2

Attached schedules and amounts in the description column Beg inning of year Endof yearPart (^ Balance Sheets should be for end-of-year amounts only (See instructions) (a ) Book Value ( b ) Book Value (c) Fair Market Value

1 Cash-non-Interest-bearing 1 , 220 3 , 258 3 258

2 Savings and temporary cash investments 821 9 661 876 4 6 6 8 7 6 4 6 6

3 Accounts receivable ►Less allowance for doubtful accounts ►

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 page 16 of the

instructions)

7 Other notes and loans receivable (att schedule) ►

Less allowance for doubtful accounts ►N 8 Inventories for sale or use

y 9 Prepaid expenses and deferred charges

Q 10a Investments-U S and state government obligations (attach schedule) Stmt 5 1 , 595 , 118 1 , 191 , 334 1 , 180 , 444

b Investments-corporate stock (attach schedule) See Stmt 6 5 , 855 , 58 3 6 , 480 , 707 7 155 684c Investments-corporate bonds (attach schedule) See Stmt 7 1 , 061 , 316 972 , 013 940 , 351

11 Investments-land, buildings, and equipment basis ►

Less accumulated depreciation (attach sch) ►

12 Investments-mortgage loans

13 Investments-other (attach schedule)

14 Land, buildings, and equipment basis ►

Less accumulated depreciation (attach sch) ►

15 Other assets (describe ► See Statement 8 346 24316 Total assets (to be completed by all filers-see the

instructions Also see page 1 Item I 9 , 335 , 244 9 524 021 10 156 20317 Accounts payable and accrued expenses

N 18 Grants payable

19 Deferred revenue

20 Loans from officers, directors, trustees, and other disqualified persons

LZ 21 Mortgages and other notes payable (attach schedule)

"j 22 Other liabilities (describe ► See Statement 9 3 , 58623 Total liabilities (add lines 17 throug h 22 ) 3 , 586 0

Foundations that follow SFAS 117, check here ► 1-1in and complete lines 24 through 26 and lines 30 and 31.

24 Unrestricted

25 Temporarily restrictedt>3M 26 Permanently restricted

Foundations that do not follow SFAS 117, check here ►

LLand complete lines 27 through 31.

0 27 Capital stock, trust principal, or current funds

in 28 Paid-in or capital surplus, or land, bldg , and equipment fund

y 29 Retained earnings, accumulated income, endowment, or other funds 9 , 331 , 658 9 , 524 , 021in

30 Total net assets or fund balances (see page 17 of the

Instructions) 9 , 331 r 658 9 , 524 , 021Z 31 Total liabilities and net assets/fund balances (see page 17

of the instructions 9 , 335 , 244 , 9 , 524 , 021

I

1Part Ill Analysis of Changes in Net Assets or Fund Balances

I Total net assets or fund balances at beginning of year-Part II, column (a), line 30 (must agree with

end-of-year figure reported on prior year's return) 1 9 , 331 , 6582 Enter amount from Part I, line 27a 2 192 , 3633 Other increases not included in line 2 (itemize) ► 3

4 Add lines 1, 2, and 3 4 9 , 524 , 0215 Decreases not included in line 2 (itemize) ► 5

6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 6 9,524,021Form 990-PF (2007)

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0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 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 buck warehouse, or common stock, 200 shs MLC Co)

(b) How acquiredP-PurchaseD-Donation

(c) Date acquired(mo , day, yr)

(d) Date sold(mo , day, yr )

1a See Worksheetb

c

d

e

(e) Gross sales puce(f) Depreciation allowed

(or allowable)(g) Cost or other basisplus expense of sale

(h) Gain or (loss)(e) plus (f) minus (g)

a

b

c

d

e

Com plete only for assets showin gain in column ( h ) and owned by the foundation on 12/31/69 (1) Gains (Col (h) ain minus

(i) F M V as of 12/31/69(j) Adjusted basis

as of 12/31/69

(k) Excess of col (i)

over col Q), if any

gcol (k), but not less than -0-) or

Losses (from col (h))

a

b

cd

e

2 Capital gain net income or (net capital loss)If gain, also enter in Part I, line 7

If (loss), enter -0- in Part I, line 7 2 396 , 7963 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 pages 13 and 17 of the instructions)

If loss enter -0- in Part I line 8 3 166 , 784.......................Part V Qualification Under Section 4940 ( e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income )

If section 4940(d)(2) applies, leave this part blank

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes XX No

If "Yes ," the foundation does not qualify under section 4940 ( e) Do not complete this part

1 Enter the appro p riate amount in each column for each year, see page 18 of the instructions before making any entries(a)

Base period yearsCalendar year (or tax year beg innin g in )

(b)Adjusted qualifying distributions

(c)Net value of noncharitable-use assets

(d)Distribution ratio

col ( b ) divided by col ( c ))

2006 485 , 866 9 616 083 0.0505262005 575 , 217 9 , 751 , 622 0.0589872004

2003

2002

2 Total of line 1, column (d) 2 0.1095133 Average distribution ratio for the 5-year base period-divide the total on line 2 by 5, or by the

number of years the foundation has been in existence if less than 5 years 3 0.054757

4 Enter the net value of noncharltable-use assets for 2007 from Part X, line 5 4 10 , 16-9 1 6-3-8

5 Multiply line 4 by line 3 s 556 , 859

6 Enter 1% of net investment income (1 %a of Part I, line 27b) 6 7 082

7 Add lines 5 and 6 7 56-3- f 9-4-1-

8 Enter qualifying distributions from Part XI I, line 4 8 495 , 117If line 8 is equal to or greater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1 % tax rate See

the Part VI instructions on page 18

Form 990-PF (2007)DAA

0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Paqe 4

Part VV ' Excise Tax Based on Investment Income (Section 4940 ( a ), 4940 ( b), 4940 (e), or 4948-see page 18 of the instructions

1a Exempt operating foundations described in section 4940(d)(2), check here 10, and enter "N/A" on line 1

Date of ruling letter (attach copy of ruling letter if necessary-see instructions)

b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 14 164

here ► q and enter 1% of Part I, line 27b

c All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4%

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 14 , 164

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 14 , 164

6 Credits/Payments

a 2007 estimated tax payments and 2006 overpayment credited to 2007 6a 12 , 720

b Exempt foreign organizations-tax withheld at source 6b

c Tax paid with application for extension of time to file (Form 8868) 6c

d Backup withholding erroneously withheld 6d

7 Total credits and payments. Add lines 6a through 6d 7 12 720

8 Enter any penalty for underpayment of estimated tax Check here q if Form 2220 is attached 8

9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed ► 9 1 , 44410 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 2008 estimated tax ► Refunded ► 11

Part V!1-A Statements Regarding Activitiesla During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it Yes No

participate or intervene in any political campaign'? la X

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19

of the instructions for definition)' 1 b X

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 X

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 X

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 X

4a Did the foundation have unrelated business gross income of $1,000 or more during the year? 4a X

b If "Yes," has it filed a tax return on Form 990-T for this year? N/A 4b

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? 5 X

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

• By language in the governing instrument, or

• 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 X

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 XV 7 X

8a Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) ► ND

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 X

9 Is the foundation claiming status as a private operating foundation within the meaning of section 49420)(3)

or 4942(j)(5) for calendar year 2007 or the taxable year beginning in 2007 (see instructions for Part XIV on

page 27)? If "Yes," complete Part XIV 9 X

10 Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their

1 101 1 XForm 990-PF (2007)

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0169


Port Vf .A Statements Regarding Activities (continued )11a 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 page 20 of the instructions) 11a X

b If "Yes," did the foundation have a binding written contract in effect on August 17, 2006, covering the interest,

rents, royalties, and annuities described in the attachment for line 11a" N/A 11b

12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? 12 X

13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X

Website address ► N/A

14 The books are in care of ► DONALD L. SCOTT Telephone no ► 701-237-0170

4152 30TH AVE. S., STE 102Located at ► FARGO, ND ZIP+4 ► 58104-8403

15 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041- Check here ► q

and enter the amount of tax-exempt interest received or accrued during the year ► I 15

Part Vt1-B Statements Regarding Activities for Which Form 4720 May Be RequiredFile 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? q Yes No

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a

disqualified person? Yes X No

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? Yes X No

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? Yes X No

(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)? q Yes 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 ) q Yes 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 page 22 of the instructions)? N/A 1b

Organizations relying on a current notice regarding disaster assistance check here ► q

c Did the foundation engage in a prior year in any of the acts described in 1 a, other than excepted acts, that

were not corrected before the first day of the tax year beginning in 2007? N/A 1c

2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 49420)(3) or 4942(j)(5))

a At the end of tax year 2007, did the foundation have any undistributed income (lines 6d and

6e, Part XIII) for tax year(s) beginning before 2007? q Yes 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 page 22 of the instructions) N/A 21b

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? q Yes No

b If "Yes," did it have excess business holdings in 2007 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 Schedule C, Form 4720, to determine if the

foundation had excess business holdings in 2007) N/A 3b

4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? 4a X

b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable

ouroose that had not been removed from ieooardv before the first day of the tax year beommno in 2007? 4b X

Form 990-PF (2007)

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0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Page 6NO V1148 Statements Regarding Activities for Which Form 4720 May Be Required (continued )5a Dunng the year did the foundation pay or incur any amount to

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))" q Yes No

(2) Influence the outcome of any specific public election (see section 4955), or to carry on,

directly or indirectly, any voter registration drive? q Yes BX No

(3) Provide a grant to an individual for travel, study, or other similar purposes? Yes X No

(4) Provide a grant to an organization other than a charitable, etc , organization described in

section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions) q Yes 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? q Yes 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 page 22 of the instructions)? N/A 5b

Organizations relying on a current notice regarding disaster assistance check here ► q

c 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? N/A E1 Yes q No

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? q Yes No

b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? 6b X

If you answered "Yes" to 6b, also file Form 8870

7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? q Yes No

b If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? N/A 7b

Part VIII Information About Officers, Directors , Trustees , Foundation Managers , Highly Paid Employees,

and ContractorsI List all nfficarc dirpctnrc trustaas foundation mananPrs and their comnoncatinn 1sPa nano 23 of the instructioncl

(a) Name and address(b) Title, and average

hours per weekdevoted to position

(c) Compensation( If not paid, enter

-0-)

( employeeContributions

plans and deferredcompensation

(e) Expenseaccount, otherallowances

DONALD L . SCOTT FARGO EXEC. DIR.

1858 34TH ST . S. # 20 ND 58103 30 16 , 000 0 0

DAN CAREY FARGO TRUSTEE

152 35TH AVE . NE ND 58102 1 4 , 000 0 0

H. MICHAEL HARTY FARGO TRUSTEE

1743 S. 9TH ST . ND 58103 1 4 , 000 0 0

2 Compensation of five highest-paid employees (other than those included on line 1-see page 23 of the instructions).

If none . enter "NONE."

(a) Name and address of each employee paid more than $50,000(b) Title, and average

hours per weekdevoted to position

(c) Compensation

(d) Contributions toemployee benefitplans and deferred

compensation

(e) Expenseaccount, otherallowances

NONE

Total number of other employees paid over $50,000 ► 1 0

Form 990-PF (2007)

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0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Page 7Part Mir Information About Officers , Directors, Trustees, Foundation Managers , Highly Paid Employees,

and Contractors (continued)3 Five highest -paid independent contractors for professional services (see page 23 of the 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 ► 1 0

Part IX-A Summary of Direct Charitable Activities

List the foundation's four largest direct chartable activities during the tax year Include relevant statistical information such as the numberof organizations and other beneficiaries served, conferences convened, research papers produced, etc Expenses

1 N/A

4

Part IX!B Summary of Program -Related Investments (see page 24 of the instructions)Describe the two larg est p rog ram-related investments made by the foundation during the tax year on lines 1 and 2 Amount

1 N/A

2

All other program-related investments See page 24 of the instructions

3

Total. Add lines 1 throug h 3 ►Form 990-PF (2007)

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0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Page 8Part X ' Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,

Fair market value of assets not used (or held for use ) directly in carrying out charitable, etc ,

a

b

c

d

e

2

3

4

5

6

purposes-

Average monthly fair market value of securities

Average of monthly cash balances

Fair market value of all other assets (see page 25 of the instructions)

Total (add lines la, b, and c)

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) le

Acquisition indebtedness applicable to line 1 assets

Subtract line 2 from line 1d

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see page 25

of the instructions)

Net value of noncharitable -use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4

Minimum investment return . Enter 5% of line 5

la1 10,322,3151b 1 , 8961c 2951d 10 , 324 , 506

02 03 10 , 324 , 506

4 154 , 8685 10 , 169 , 6386 508,482

Part XI Distributable Amount (see page 25 of the instructions) (Section 49420)(3) and 0)(5) private operating

foundations and certain forei g n organizations check here ► and do not com plete this p art1 Minimum investment return from Part X, line 6 1 508 , 482

2a Tax on investment income for 2007 from Part VI, line 5 2a 14 , 164

b Income tax for 2007. (This does not include the tax from Part VI) 2b

c Add lines 2a and 2b 2c 14 164

3 Distributable amount before adjustments Subtract line 2c from line 1 3 494 , 3184 Recoveries of amounts treated as qualifying distributions 4

5 Add lines 3 and 4 5 494 , 3186 Deduction from distributable amount (see page 25 of the instructions) 6

7 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII,

line 1 7 494 318

Part, H Qualifying Distributions (see page 26 of the instructions)

1 Amounts paid (including administrative expenses) to accomplish charitable, etc , purposes

a Expenses, contributions, gifts, etc -total from Part I, column (d), line 26 la 495 , 117b Program-related investments-total from Part IX-B lb

2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc ,

purposes 2

3 Amounts set aside for specific charitable projects that satisfy the.

a Suitability test (prior IRS approval required) 3a

b Cash distribution test (attach the required schedule) 3b

4 Qualifying distributions . Add lines 1 a through 3b Enter here and on Part V, line 8, and Part XIII, line 4 4 495 , 1175 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income

Enter 1% of Part I, line 27b (see page 26 of the instructions) 5 0

6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 495 , 117Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation

qualifies for the section 4940(e) reduction of tax in those years

Form 990-PF (2007)

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Form 990-PF(2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Page 9

Part Xflt' Undistributed Income (see page 26 of the instructions

(a) (b) (c) (d)

1 Distributable amount for 2007 from Part XI, Corpus Years pnor to 2006 2006 2007

line? 494 & 3f-82 Undistributed income, if any, as of the end of 2006

a Enter amount for 2006 only

b Total for prior years: 20 , 20 , 20

3 Excess distributions carryover, if any, to 2007-

a From 2002

b From 2003

c From 2004

d From 2005 11 , 884

e

f

From 2006

Total of lines 3a through e

17 , 768

29 4 6524 Qualifying distributions for 2007 from Part XII,

line 4 ► $ 495,117a Applied to 2006, but not more than line 2a

b Applied to undistributed income of prior years (Election

required-see page 27 of the instructions)

c Treated as distributions out of corpus (Election

required-see page 27 of the instructions)

d Applied to 2007 distributable amount 494 4 318e Remaining amount distributed out of corpus 799

5 Excess distributions carryover applied to 2007

(If an amount appears in column (d), the same

amount must be shown in column (a) )

6 Enter the net total of each column as

indicated below:

a Corpus Add lines 3f, 4c, and 4e Subtract line 5 30 , 451

b Prior years' undistributed income. Subtract

line 4b from line 2b

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

d Subtract line 6c from line 6b Taxable

amount-see page 27 of the instructions

e Undistributed income for 2006. Subtract line

4a from line 2a Taxable amount-see page

27 of the instructions

f Undistributed income for 2007 Subtract lines

4d and 5 from line 1 This amount must be

distributed in 2008 0

7 Amounts treated as distributions out of corpus

to satisfy requirements imposed by section

170(b)(1)(F) or 4942(g)(3) (see page 27 of the

instructions)

8 Excess distributions carryover from 2002 not

applied on line 5 or line 7 (see page 27 of the

instructions)

9 Excess distributions carryover to 2008.

Subtract lines 7 and 8 from line 6a 30 45110 Analysis of line 9.

a Excess from 2003

b Excess from 2004

c Excess from 2005 11 , 884

d Excess from 2006 17 , 768

e Excess from 2007 799

Form 990-PF (2007)

DAA

F (2007) ALEX STERN FAMILY F( fNDATION 45-6013981 Page 10Part XIV Private Operatin g Foundations (see page 27 of the instructions and Part VII -A q uestion 9 )

la, If the foundation has received a ruling or determination letter that it is a private operating

,foundation, and the ruling is effective for 2007, enter the date of the ruling ►b Check box to indicate whether the foundation is a p rivate operatin g foundation described in section 49420)( 3 ) or 49420)(5)

2a Enter the lesser of the adjusted net Tax year Pnor 3 years (e) Total

income from Part I or the minimum (a ) 2007 ( b ) 2006 ( c ) 2005 ( d ) 2004

investment return from Part X for

each year listed

b 85% of line 2a

c Qualifying distributions from Part XII,

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, b, or c for the

alternative test relied upon

a "Assets" alternative test-enter

(1) Value of all assets

(2) Value of assets qualifying under

section 49420)(3)(B)(i)

b "Endowment" alternative test-enter 2/3 of

minimum investment return shown in Part

X, line 6 for each year listed

c "Support" alternative test-enter'

(1) Total support other than grossinvestment income (interest,

dividends, rents, payments onsecurities loans (section

512(a)(5)), or royalties)

(2) Support from general publicand 5 or more exemptorganizations as provided insection 4942(I)(3)(B)(ni)

(3) Largest amount of support from

an exempt organization

(4) Gross investment income

Part ACV Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets

at any time during the year-see page 28 of the instructions.)1 Information Regarding Foundation Managers:

a List 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) )

NONE

b List 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

NONE2 Information Re arding 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 (see page 28 of the instructions) to individuals or

organizations under other conditions, complete items 2a, b, c, and d

a The name, address, and telephone number of the person to whom applications should be addressed

DONALD SCOTT 701-237-0170

4152 30TH AVE. S., STE 102 FARGO ND 58104-8403b The form in which applications should be submitted and information and materials they should include

SEE ATTACHED SCHEDULE

c Any submission deadlines.

MARCH 31 AND AUGUST 31d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors

FARGO MOORHEAD AREA ACTIVITIESForm 990-PF (2007)

DAA

0169


Part XV' Supplementary Information (continued)3 Grants and Contributions Paid During the Year or Aooroved for Future Payment

RecipientIf recipient is an individual,show any relationship to

Foundationstatus of Purpose of grant or Amount

any foundation manager recipient contribution

Name and address ( home or business ) or substantial contributor

a Paid during the year

See Statement 10474,172

Total ► 3a 474 , 172b Approved for future payment

N/A

Total ► 3b

DAA Form 990-PF (2007)

0169


Part XVI-A Analysis of Income-Producin g ActivitiesEnter,gross amounts unless otherwise indicated Unrelated business income Excluded by section 512, 513, or 514 (e)

Program service revenue.

(a)Business code

(b)Amount

(c)Exclusioncode

(d)Amount

Related or exempt

function income(See page 28 of

the instructions )

a 14b

c

d

ef

g Fees and contracts from government agencies

2 Membership dues and assessments

3 Interest on savings and temporary cash investments 14 21 , 088

4 Dividends and interest from securities 14 352 , 3655 Net rental income or (loss) from real estate

a Debt-financed property

b Not 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 14 396 , 7969 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) 0 770 , 249 013 Total. Add line 12, columns (b), (d), and (e) 13 770 ,249(See worksheet in line 13 instructions on pane 29 to verify calculations

Line NO.Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to

.V the accomplishment of the foundation's exempt purposes (other than by providing funds for such purposes) (See

a e 29 of the instructions

N/A

DAA Form 990-PF (2007)

0169

Form 990-PF (2007) ALEX STERN FAMILY FOUNDATION 45-6013981 Page 13Part XVIt Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Exempt Organizations1 Did the organization directly or indirectly engage in any of the following with any other organization described Yes No

in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

organizations

a Transfers from the reporting foundation to a nonchantable exempt organization of

(1) Cash la ( l ) X

(2) Other assets la(2) X

b Other transactions

(1) Sales of assets to a noncharltable exempt organization 1 b ( l ) X

(2) Purchases of assets from a nonchantable exempt organization lb (2 )1 X

(3) Rental of facilities, equipment, or other assets 1 b ( 3 )1 X

(4) Reimbursement arrangements 1b (4) X

(5) Loans or loan guarantees 1 b (5 ) X

(6) Performance of services or membership or fundraising solicitations 1 b(6 ) X

c Sharing of facilities, equipment, mailing lists, other assets, or paid employees 1c X

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 organization If the foundation received less than fair market

(a) Line no I (b) Amount involved I (c) Name of nonchantable exempt orcianization I (d) Descnption of transfers, transactions, and shannq arrangements

N/A

2a Is the foundation directly or indirectly affiliated with , or related to , one or more tax-exempt organizations

described in section 501 ( c) of the Code (other than section 501(c)(3)) or in section 527" Yes XX No

In If "Yes " complete the followma schedule

(a ) Name of organization ( b ) Type of organization ( c ) Descri ption of relationshi p

N/A

Under penalties of perfu , l declare that I have me his return, including accompanying schedules and statements, and to the best of my knowledge andbelief, it is true, correc complete tier of par r (othe Ilan taxpayer or fiid

tS f ff4,I-

igna ure o o icer or trustee

N2

tM d C Preparer's

yaMM O sig nature

a Firm's name (or you If Nikki Schmal , CPA

self-employed), address, 1220 Main Ave Ste 2

and ZIP code Fargo , ND 58108-2

0169

Capital Gains and Losses for Tax on Investment IncomeForm 990-PF 2007

For calendar year 2007 , or tax year beg inning , and ending

Name

ALEX STERN FAMILY FOUNDATION

Employer Identification Number

45-6013981

(a) List and describe the kind ( s) of prope rty sold , e g , real estate,2-story buck warehouse , or common stock , 200 shs MLC Co

(b) How acquiredP-PurchaseD-Donation

(C) Date acquired(mo , day, yr )

(d) Date sold(mo , day, yr )

( 1 ) SCHEDULE ATTACHED P Various Various(2 ) SCHEDULE ATTACHED P Various Various( 3 ) SCHEDULE ATTACHED P Various Various

(4 ) SCHEDULE ATTACHED P Various Various(5 ) ALLIANZ NFJ VAL INS(6 ) JULIUS BAER INTL EQUITY(7 ) NORTHERN SMALL CAP

( 8 )

(9 )

( 10 )

( 11 )

( 12 )

( 13 )

( 14 )

( 15 )

(e) Gross sales puce (f) De reciation allowed(or allowable)

(g) Cost or other basisplus expense of sale

h) Gain or (loss),plus (f) minus (g)

( 1 ) 2 , 455 , 184 2 , 289 , 410 165 , 774( 2 ) 936 , 361 790 , 612 145 , 749( 3 ) 231 , 398 230 , 388 1 , 010(4 ) 666 , 009 668 , 161 -2 , 152( 5 ) 3 , 483 3 , 483(6 ) 70 , 928 70 , 928( 7 ) 12 , 004 12 , 004(8 )

( 9 )

( 10 )

11

( 12 )

( 13 )

( 14 )

( 15 )

Com plete only for assets showln ain in column ( h ) and owned by the foundation on 12/31/69

(i) F M V as of 12/31/69 (J) Adjusted basisas of 12/31/69

(k) Excess of col (i)over col 0 ), if any

(I) Gains (Col (h) gain minuscol (k), but not less than -0-) or

Losses (from col (h))

( 1 ) 165 , 774(2 ) 145 , 749(3 ) 1 010(4 ) -2 , 152(5 ) 3 , 483(6 ) 70 , 928(7 ) 12 , 004( 8 )

( 9 )

( 10 )

( 11 )

( 12 )

( 13 )

( 14 )

15

0169 ALEX STERN FAMILY FOUNDATION

45-6013981 Federal StatementsFYE: 12/31/2007

Taxable Interest on Investments

Description AmountSBT INCOME/FIXED TRUST $ 7,409

GOLDMAN SACHS FINANCIAL SQ 3,797

VISION BANK CD 6,619

SBT PERSONAL TRUST MONEY MKT 3,263

UnrelatedBusiness Code

Exclusion PostalCode Code

14141414

Total $ 21,088

Taxable Dividends from Securities

Description AmountALCOA $ 2,694ALLIANCE BERNSTEIN HOLDING 168ALLIANZ NFJ DIVIDEND VAL INS 10,927ALLSTATE CORP 1,394AMERICAN EXPRESS 366AMERICAN INTERNATIONAL GROUP 105ANALOG DEVICES 1,163ANHEUSER BUSCH COS INC 258ARCHER DANIELS MIDLAND CO 783AUTOMATIC DATA PROCESSING INC 722BPPLC 2,677BAC CAP TR II 4,025BAKER HUGHES INC. 109BALL CORPORATION 308BANK OF AMERICA CORPORATION 3,696BANK OF NEW YORK CO INC. 563BANK OF NEW YORK MELLON 580BARRICK GOLD CORP 454BEST BUY INC 446CBS 2,356CVS CAREMARK 482CAMECO CORP 104CAPITAL ONE FINANCIAL CORP 63CATERPILLAR INC 1,231CHEVRON TEXACO 1,559CITIGROUP INC. 3,456CITIGROUP CAP VIII PFD 3,996CLAIRES STORES 163CONOCO PHILLIPS 2,394CORTS TR DISNEY 172DOW CHEMICAL 381DU PONT E I DE NEMOURS 2,037EO G RESOURCES INC 29EMERSON ELECTRIC CO 1,849ERICSSON L M TEL CO 619EXELON CORPORATION 594EXXON MOBIL CORP 3,408FRANKLIN CONVERT SEC A 4,101GENERAL ELECTRIC COMPANY 2,080GENERAL MILLS INC. 492GOLDMAN SACHS GROUP INC 168HALLIBURTON CO 545HARTFORD FINANCIAL GROUP 1,210HOME DEPOT INC 333IDEARC INC 398INTEL CORP 1,539INTERNATIONAL BUSINESS MACHIN 938ISHARES RUSSELL 2000 GROWTH 606J P MORGAN CHASE & CO 1,419JP MORGAN CHASE PFD 2,275JANUS GROWTH & INCOME 711

Unrelated Exclusion PostalBusiness Code Code Code

141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414



Taxable Dividends from Securities (continued)

Description AmountJOHNSON & JOHNSON $ 2,776

JULIUS BAER INTL EQUITY 25,981

ELI LILLY & CO 771

LOCKHEED MARTIN CORP 742

LOWES COMPANIES INC. 405

MDU RESOURCES GROUP 893METRONIC INC 585

MERRILL LYNCH & CO 458

MICROSOFT CORP 465

MOTOROLA 726

MOTOROLA INC PFD 4,100

NEWMONT MNG CORP 594

NOKIA CORP 1,297

NORTHERN SMALL CAP VALUE FD 2,096

OFFICE MAX INC 344

OIL SERVICE HOLDRS TRUST 7,804

PENN WEST ENERGY 2,556

PROCTER & GAMBLE COMPANY 1,340

QUALCOMM INC 1,040

QUESTAR CORP 611

ROWAN COMPANIES 442

SCHLUMBERGER LTD 1,669

STAPLES INCORPORATED 691

TARGET CORP 762

TEMPLETON INCOME GLOBAL FUND 37,424

TEVA PHARMACEUTICAL 564

TEXAS INSTRUMENTS INC. 326

3 M CO 1,488TRANSOCEAN INC 1,790

TRAVELERS COS IN 1,452

TYCO INTERNATIONAL 443

TYCO ELECTRONICS LTD 70

US BANCORP DEL 3,756

UNITED TECHNOLOGIES CORP 760

VODAFONE GROUP 866VERIZON COMMUNICATIONS 1,485

WACHOVIA CORPORATION 3,107

WALMART STORES INC 1,689

WALGREEN 631

WATSCO INC 1,640

WELLS FARGO & CO 1,635

WELLS FARGO CAP VI GTD CAP 977

WHOLE FOOD MARKET INC. 181

ZIONS CAPITAL TRUST B 6,000FEDERAL HOME LN MTG CORP 3,312

FEDERAL FARM CREDIT 6,796

FEDERAL FARM CR BANKS CONS. 5,350FEDERAL HOME LOAN BANKS 26,473

FHLMC POOL 170016 3

FEDERAL NATIONAL MTG ASSN 28,725

US TREASURY BOND 1,987

ARCHER DANIELS MIDLAND CO 1,174

ASSOCIATES CORP NORTH AM 13,750

BLACK & DECKER CORP 3,563CVS CORP 2,000CAMPBELL SOUP CO 488

CHUGACH ELECT ASSOC 3,275

COMPUTER SCIENCES CORP 2,500CONAGRA FOODS 3,375DEUTSCHE BANK NY 25DUQUESNE LIGHT CO 3,350FNMA POOL $ 5452 69FEDERAL HOME LN MTG ASSN 4,500

FIRST DATA CORP 859FORTUNE BRANDS INC. 2,438


1414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414141414

- 0169 ALEX STERN FAMILY FOUNDATION


Taxable Dividends from Securities (continued)

Description AmountGANNETT CO $ 825

GNR 2003-111 5,500GNR 2003-58 825GNR 2005-33 8,250HORMEL FOODS 2,203KNIGHT RIDDER INC 4,938

KOHLS CORP NOTE 630MCDONALDS CORP MED TERM 900PUGET SOUND ENERGY INC. 2,388QUAKER OATS CO 7,424SLM CORP MTN 1,538SOUTHWESTERN BELL 1,841UNILEVER CAP CORP 1,425WEYERHAEUSER CO 1,688ACC INTEREST PAID ON FED. MTG -600

Total $ 352,365


141414141414141414141414141414

DescriptionALLIANZ NFJ VAL INSJULIUS BAER INTL EQUITYNORTHERN SMALL CAP

Total

Capit:

TotalCap Gain

$ 3,48370,92812,004

$ 86,415

it Gain Distributions

28% Rate UnrecapCap Gain 1250 Amt

$ $

$ 0 $ 0

UBIT Exclusion Postal(Trusts ) Code Code

141414

STERN ALEX FAMILY FNDN IMT EQUITY 410291017Schedule D Detail of Short-term Capital Gains and Losses

45-6099508

Descri ption

Date

Acquired

Date

Sold

Gross Sales

Price

Cost or Other

Basis

Short-term

Gain/Loss

780. ALCOA INC 10 / 09 / 2006 06 / 26 / 2007 30,230.93 21,794.91 8,436.021050. AMERICAN INTERNATIONAL GROUP 09 / 07 / 2007 09 / 11 / 2007 67,988.03 70,177.02 -2,188.99510. AMGEN INC 04 / 12 / 2007 12 / 14 / 2007 24,805.41 29,240.24 -4,434.83905. ANALOG DEVICES 10 / 12 / 2006 05 / 14 / 2007 36,029.76 28,593.97 7,435.79312.719 BARON GROWTH 07 / 18 / 2006 03 / 15 / 2007 15,676.60 14,704.71 971.89570. BENCHMARK ELECTRONICS INC 02 / 15 / 2007 09 / 07 / 2007 13,660.07 12,619.61 1,040.461040. BENCHMARK ELECTRONICS INC 05 / 09 / 2007 09 / 10 / 2007 24,888.90 22,604.70 2,284.201345. BENCHMARK ELECTRONICS INC 03 /27 / 2007 12 / 19 / 2007 22,869.89 27,731.39 -4,861.50545. BEST BUY INC 01 / 19 / 2007 12 / 11 / 2007 28,226.32 27,290.48 935.84460.448 CALAMOS GROWTH - A 07 / 18 / 2006 02 / 13 / 2007 25,287.80 24,123.82 1,163.98840. CAMECO CORP 02 16 2007 04 / 10 / 2007 38,682.33 31,234.61 7,447.72710. CATERPILLAR INC 09/25 / 2006 06 / 27/2007 56,028.30 47,487.04 8,541.26860. CHEESECAKE FACTORY (THE) 09 / 01 / 2006 03 / 05 / 2007 22,577.75 22,370.98 206.77915. CHEESECAKE FACTORY (THE) 08 / 31 / 2006 04/04 2007 24,312.55 22,878.87 1,433.68430. CHEESECAKE FACTORY (THE) 08 / 31 / 2006 04 / 10/2007 11,284.88 10,716.72 568.163450. CHICO'S FAS INC 09 / 18 / 2007 11 / 09 / 2007 36,741.24 53,178.59 -16,437.351630. CLAIRE'S STORES INC 11 / 02 / 2006 05 / 08 / 2007 53,120.89 46,208.80 6,912.09195. COGNIZANT TECHNOLOGY SOLUTIONS 06 / 08/2007 10 / 11 / 2007 15,822.19 15,040.68 781.5825.627 COLUMBIA ACORN FUND-CL A 02 / 13 / 2007 03/15 /2007 24,405.53 25,000.00 -594.47140. CONSTELLATION BRANDS INC-A 01 / 10 / 2007 12/03 / 2007 3,312.35 3,502.45 -190.10710. CONSTELLATION BRANDS INC-A 01 / 10 / 2007 12 / 04 / 2007 16,976.19 17,762.43 -786.241375. CYTYC CORPORATION 09 / 01 /2006 03 /28 /2007 45,604.61 33,798.43 11,806.18935. CYTYC CORPORATION 09 / 08 / 2006 05 / 21 / 2007 39,380.66 22,706.66 16,674.004957.327 D W S DREMAN S/C VALUE FUND -

INS 08/22 / 2006 02 / 13 / 2007 192,939.17 181,439.91 11,499.26420. DOW CHEMICAL 09 / 14 / 2006 03/19 / 2007 18,930.91 16,272.61 2,658.301045. E M C CORP MASS 09 / 20 / 2006 08 / 23 / 2007 20,378.96 12,052.82 8,326.14115. E 0 G RESOURCES INC 05 /23/2006 02/02/2007 7,879.55 7,420. 11 459.44845. ERICSSON L M TEL CO ADR 03/29/2007 05/10/2007 31,712.36 31,167.83 544.531705. ERICSSON L M TEL CO ADR 05/14/2007 10/16/2007 52,775.08 65,543.04 -12,767.96950. EURONET WORLDWIDE INC 01/23/2007 08/09/2007 27,929.76 27,841.05 88.7435. FEDERAL NATIONAL MTG ASSOC 08 / 24 / 2006 01 / 17 / 2007 24,968.36 22,423.68 2,544.684201.068 JANUS GROWTH & INCOME 07 / 18 / 2006 04 / 04 / 2007 163,631.60 149,511.03 14,120.571536.202 JANUS MID CAP VALUE 07 / 18 / 2006 02 13 2007 38,082.45 35,297.89 2,784.564900. L S I CORP 02 / 09 / 2007 06 / 29 / 2007 36 727.39 46 655.37 -9 , 927.98

Totals

JSA7F0971 1 000

BTI544 685N 02/19/2008 410291017 10 STATEMENT

STERN ALEX FAMILY FNDN IMT EQUITY 410291017Schedule D Detail of Short-term Capital Gains and Losses

45-6099508

Descri p tion

Date

Acq uired

Date

Sold

Gross Sales

Price

Cost or Other

Basis

Short-term

Gain/Loss

350. MEDCO HEALTH SOLUTIONS INC 11 / 03 / 2006 03 / 27 / 2007 24,999.49 18,175.45 6,824.04435. MEDCO HEALTH SOLUTIONS INC 11 / 03 / 2006 04 / 11 /2007 31,247.79 22,319.50 8,928.293830. MICRON TECHNOLOGY INC 02 / 02 / 2007 06 / 29 / 2007 48,016.74 52,378.92 -4,362.182260. NOKIA CORP SPONSORED ADR 11 / 08 / 2006 08 / 01 / 2007 63,721.53 44,859.28 18,862.25700. NVIDIA CORP 03 / 30 / 2007 06 / 29 / 2007 29,021.56 22,497.23 6,524.33780. NVIDIA CORP 03 / 30 / 2007 07 / 31 / 2007 36,907.71 22,643.95 14,263.761145. OFFICEMAX INC 05 / 30 / 2007 11 / 05 / 2007 30,564.73 51,780.97 -21,216.241410.599 PHOENIX MID-CAP VALUE FD-A 02 / 13 / 2007 05 / 10 / 2007 38,720.94 37,000.00 1,720.94480. QUALCOMM INCORPORATED 11 / 15 / 2006 10 / 15 / 2007 19,965.68 18,182.40 1,783.2813848.742 RIVERSOURCE DIV EQUITY INC - 12 / 20 / 2006 02 / 13 / 2007 181,418.52 183,051.97 -1,633.45870. SLM CORPORATION 03 / 14 / 2007 10 / 15 / 2007 42,085.95 35,831.56 6,254.391040. ST JUDE MEDICAL INC 05 31 / 2006 02 / 01/2007 43,695.82 36,195.58 7,500.241100. ST JUDE MEDICAL INC 06/14 / 2006 05/08 / 2007 48,163.97 35,942.08 12,221.891010. SANDISK CORPORATION 12 / 12 / 2006 04 / 11 / 2007 43,429.13 44,448.24 -1,019.1720. SANDISK CORPORATION 01 / 04 / 2007 05 / 18 / 2007 31,491.96 30,432.77 1,059.19285. SCHLUMBERGER LTD 09 / 26 / 2006 05 / 21 / 2007 19,935.44 16,576.49 3,358.951895. STARBUCKS CORPORATION 06/27 / 2007 11 / 09 / 2007 43,194.35 51,611.96 -8,417.61745. TD AMERITRADE HLDG CORP 11 / 21 / 2006 06 / 12 / 2007 35,652.07 30,063.21 5,588.86610. TEXAS INSTRUMENTS INC 12 / 12 / 2006 04/24 / 2007 21,338.39 18,173.60 3,164.793335. TIME WARNER INC 07 / 19 / 2006 02 / 08 / 2007 71,168.71 54,467.46 16,701.251190. TYCO INTERNATIONAL LTD 05 / 04/2006 02 / 06 / 2007 38,960.47 33,390.45 5,570.021155. VODAFONE GROUP PLC - SP ADR 09/27 / 2006 01 / 10 / 2007 32,505.78 26,379.51 6,126.27435. WATSCO INC 01 / 11 / 2007 12/04 / 2007 15,434.65 20,443.52 -5,008.87605. WELLS FARGO & CO 03 / 29/2007 12/11 / 2007 19,275.79 20,958.41 -1,682.621005. WHOLE FOODS MARKET INC 02 / 01 / 2007 06 / 12 / 2007 38,589.80 44,927.61 -6,337.8240. COVIDIEN LTD 09 / 01 / 2006 07/05/2007 10,140.13 6,326.26 3,813.87230. INGERSOLL-RAND COMPANY LTD CL A 09 / 27 / 2006 03 / 27 / 2007 10,106.90 8,798.61 1,308.29695. INGERSOLL-RAND COMPANY LTD CL A 07 /19/2006 06/06/2007 35,048.45 26,359.72 8,688.73500. TRANSOCEAN INC 10/12/2006 06/15/2007 42,474.35 35,117.94 7,356.450. TRANSOCEAN INC 10/12/2006 07/10/2007 5,410.95 3,396.91 2,014.04260. TYCO ELECTRONICS LTD 07/05/2007 11/06/2007 8,627.89 10,286.17 -1,658.28

Totals 2455184.00 2289410.00 165,774.00

JSA7F0971 1 000

BTI544 685N 02/19/2008 410291017 11 STATEMENT

STERN ALEX FAMILY FNDN IMT EQUITY 410291017Schedule D Detail of Long-term Capital Gains and Losses

45-6099508

Descri ptionDate

Acq uired

Date

Sold

Gross Sales

PriceCost or Other

BasisLong-term

Gain/Loss

15% RATE CAPITAL GAINS (LOSSES)

1145. AMGEN INC 06 / 02 / 2004 12 / 14 / 2007 55 690.57 70 876.37 -15 , 185.80875. ANHEUSER BUSCH COS INC 02 / 09 / 2005 04 / 18 / 2007 45 , 591-96 44 , 237.15 - 1 , 354.8 1980. ARCHER DANIELS MIDLAND CO 12 / 19 / 2006 12 31 2007 45 254.24 34 304.80 10 949.44175. BALL CORPORATION 07 / 06 / 2005 04 / 26 / 2007 9 , 309.61 6 , 454.16 2 , 855.45220. BALL CORPORATION 07 / 06 / 2005 05 / 04 / 2007 11 319.57 8 , 113.80 3 , 205.77.552 BANK OF NEW YORK MELLON CORP 03 / 18 / 2005 09 / 26 / 2007 23.76 17.74 6.02196.25 BROADRIDGE FINANCIAL SOLUTIONS 06 / 02 / 2004 04 / 18 / 2007 3 , 958.09 8 , 719.39 -4 , 761.30500. CONSTELLATION BRANDS INC-A 05 / 18 / 2006 11 / 30 / 2007 11,718.32 12,906.57 -1,188.25505. CONSTELLATION BRANDS INC-A 05 / 18 / 2006 12 / 03 / 2007 11,948.12 12,454.76 -506.64595. DOW CHEMICAL 08 / 19 / 2004 03 / 19 / 2007 26,818.80 24,235.90 2,582.901290. E M C CORP MASS 03 / 29 / 2006 08 / 23 / 2007 25,156.81 17,536.47 7,620.34370. E 0 G RESOURCES INC 11 / 14 / 2005 02 / 02 / 2007 25,351.58 23,937.86 1,413.721035. FEDERAL NATIONAL MTG ASSOC 12 / 16 / 2005 01 / 17 / 2007 59,407.49 50,717.95 8,689.54230. GENERAL MILLS INC 06 / 02 / 2004 02 / 14 / 2007 13,180.78 10,591.50 2,589.28550. GENERAL MILLS INC 06 / 02 / 2004 06 / 05 / 2007 32,856.72 25,327.50 7,529.22240. GOLDMAN SACHS GROUP INC 01 / 05 / 2005 06 / 14 / 2007 54,260.46 25,211.69 29,048.771480. HOME DEPOT INC 06 / 02 / 2004 05 / 08 / 2007 56,871.83 54,236.92 2,634.9615. J P MORGAN CHASE & CO 06 / 02 / 2004 03 / 02 / 2007 29,718.59 22,656.60 7,061.99685. LOWES COMPANIES INC 12 / 28 / 2004 02 / 23 / 2007 23,954.74 19,764.70 4,190.04390. M D U RESOURCES GROUP INC 06 / 02 / 2004 05 / 10 / 2007 11,554.42 6,098.48 5,455.94300. M D U RESOURCES GROUP INC 06 / 02 / 2004 05 / 11 / 2007 8,965.75 4,691.14 4,274.6655. MERRILL LYNCH & CO INC 07 / 27 / 2004 06 / 22 /2007 55,633.41 32,430.48 23,202.93765. MICROSOFT CORP 06 / 02 / 2004 11 / 06 / 2007 27,559.31 20,485.20 7,074.1805. NEWMONT MNG CORP 10 / 19 / 2006 11 / 07 / 2007 44,417.45 34,792.43 9,625.021520. QUALCOMM INCORPORATED 07 / 26 / 2006 10 / 15 / 2007 63,224.65 54,788.68 8,435.97305. SCHLUMBERGER LTD 06 / 1 5 2004 03 / 30 / 2007 21,085.76 9,090.76 11,995.00115. SCHLUMBERGER LTD 06 / 15 / 2004 05/21 / 2007 8,044.13 3,427.67 4,616.461000. VERIZON COMMUNICATIONS 04/27 / 2005 01 / 05 / 2007 35,573.91 34,015.04 1,558.87135. VERIZON COMMUNICATIONS 04 / 27 / 2005 02 / 02 / 2007 5,160.86 4,516.77 644.09295. WATSCO INC 10 / 1 9 2006 11 / 30 / 2007 10,691.40 14,823.00 -4,131.6045. WATSCO INC 10 / 19 / 2006 12 / 03 / 2007 1,601.92 2,251.42 -649.50560. WATSCO INC 11 / 03 / 2006 12 / 04 / 2007 19,869.90 27,887.59 -8,017.69

Totals

JSA7F0970 1 000

- BTI544 685N 02/19/2008 410291017 12 STATEMENT 8

STERN ALEX FAMILY FNDN IMT EQUITY 410291017Schedule D Detail of Long-term Capital Gains and Losses

45-6099508

Descri ptionDate

Acq uired

Date

Sold

Gross Sales

PriceCost or Other

Basis

Long-term

Gain/Loss860. WELLS FARGO & CO 10 / 06 / 2005 08 / 28 / 2007 30 644.60 25 205.10 5 , 439.50290. WELLS FARGO & CO 10 / 06 / 2005 12 / 11 /2007 9,239.64 8 , 441.26 798.38745. INGERSOLL-RAND COMPANY LTD CL A 01 / 27 / 2006 03 / 27 / 2007 32 737.55 29,038.57 3,698.98240. TYCO ELECTRONICS LTD 08 / 31 / 2006 11 / 06 / 2007 7 , 964.2 1 6,326.26 1,637.95

OTAL 15% RATE CAPITAL GAINS (LOSSES) 936 361.00 790 612.00 145 749.00

Totals 936,361.00 790,612.00 145,749.00

JSA7F0970 1 000

- BT1544 685N 02/19/2008 410291017 13 STATEMENT 9

STERN ALEX FAMILY FNDN IMT FIXED 410290019Schedule D Detail of Short-term Capital Gains and Losses

45-6099508

Descri pt i on

Date

Acq uired

Date

Sold

Gross Sales

Price

Cost or Other

Basis

Short-term

Gain/Loss

9670.607 EATON VANCE FLOATING RATE CL 10 / 02 / 2007 10 / 15 / 2007 92 934.53 92,451.00 483.5330000. FHLMC 5.140% 12 / 14 / 2007 05 / 03 / 2007 12 / 14 / 2007 30,000.00 29,976.00 24.0050000. FEDERAL HOME LN BANK 5.250%

11 / 02 / 2007 05 / 03 / 2007 11 / 02 / 2007 50,000.00 50,000.001061.719 FRANKLIN CONVERT SECS A 12 / 18 / 2006 10 / 02 / 2007 18,463.29 17,527.83 935.4640000. SOUTHWESTERN BELL TEL CO 7.140%

08 / 06 / 2007 12 / 11 / 2006 08 / 06 / 2007 40,000.00 40,432.80 -432.80

Totals 231,398.00 230,388.00 1,010.00

JSA7F0971 1 000

BTI543 685N 02/13/2008 410290019 7 STATEMENT 4

STERN ALEX FAMILY FNDN IMT FIXED 410290019Schedule D Detail of Long-term Capital Gains and Losses

45-6099508

Descri ption

Date

Acquired

Date

Sold

Gross Sales

Price

Cost or Other

Basis

Long-term

Gain/Loss

15% RATE CAPITAL GAINS (LOSSES)

100000. FEDERAL FARM CREDIT 5.250% 08 / 14 / 2003 12 / 06 / 2007 105 000.00 100 000.00 5 , 000.0032.41 F H L M C POOL 170016 PART

8.000% 6 / 01 / 2007 04 / 0 9 1986 01 / 15 / 2007 32.41 31.19 1.2227.79 F H L M C POOL 170016 PART

8.000% 6 / 01 / 2007 04 / 09 / 1986 02 / 15 /2007 27.79 26.75 1.0419.88 F H L M C POOL 170016 PART

8.000% 6 / 01 / 2007 04 / 09 / 1986 03 / 15 / 2007 19.88 19.14 0.7427.51 F H L M C POOL 170016 PART

8.000% 6 / 01 / 2007 04 / 0 9 1986 04 / 15 / 2007 27.51 26.48 1.038.78 F H L M C POOL 170016 PART 8.000%

6 / 01 / 2007 04 / 09 / 1986 05 / 15 / 2007 8.78 8.45 0.336.73 F H L M C POOL 170016 PART 8.000%

6 Z 01 / 2007 04 / 09 / 1986 06 15 2007 6.73 6.48 0.255.45 F H L M C POOL 170016 PART 8.000%

6 1 01 / 2007 04 / 09 / 1986 07 / 16 / 2007 5.45 5.24 0.235.97 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 01 / 25 / 2007 35.97 35.52 0.4536.27 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 02 / 26 / 2007 36.27 35.82 0.4536.57 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 03 /25 /2007 36.57 36.11 0.4636.87 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 2 6 1986 04 / 25 / 2007 36.87 36.41 0.4637.17 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 05 / 25 / 2007 37.17 36.71 0.4637.48 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 06/25 /2007 37.48 37.01 0.4737.79 F N M A POOL #5452 9.250%

02 / 01/2014 02/26/1986 07 / 25 /2007 37.79 37.32 0.4738.1 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 08 / 25 / 2007 38.10 37.62 0.48

Totals

JSA7F09701 000

BTI543 685N 02/13/2008 410290019 8 STATEMENT 5

STERN ALEX FAMILY FNDN IMT FIXED 410290019Schedule D Detail of Long-term Capital Gains and Losses

45-6099508

Descri p tionDate

Acq uired

Date

Sold

Gross Sales

PriceCost or Other

Basis

Long-term

Gain/Loss38.41 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 _ 09 / 25 / 2007 38.41 37.93 0.4838.73 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 10 /25 / 2007 38.73 38.25 0.4839.04 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986_ 11 / 26 / 2007 39.04 38.55 0.4939.37 F N M A POOL #5452 9.250%

02 / 01 / 2014 02 / 26 / 1986 12 / 25 / 2007 39.37 38.88 0.49250000. FEDERAL NATL MTG ASSN 6.190% 10 / 05 / 1998 12 / 12 / 2007 250 000.00 274 730.00 -24 , 730.00

50000. FIRST DATA CORP 4.950%06 / 15 / 2015 10 / 12 / 2005 04 / 17 / 2007 48,695.50 48,870.00 -174.50

9607.714 FRANKLIN CONVERT SECS A 05 / 26 / 2005 _ 10 / 02 / 2007 167,078.15 151,690.32 15,387.831489.362 TEMPLETON INCOME GLOBAL BOND

FUND A 06 Z 30 / 2006 10 / 15 / 2007 17,500.00 15,963.15 1,536.8550000. U S TREASURY BOND 4.500%

11 / 15 /2015 04 / 04 /2006 08 / 27 / 2007 49,654.78 48,484.38 1,170.401100. WELLS FARGO CAP VI GTD CAP PFD 08 / 06 / 2002 04 / 18 / 2007 27,500.00 27,853.00 -353.00

TOTAL 15% RATE CAPITAL GAINS (LOSSES) 666,009.00 668,161.00 -2,152.00

Totals 666,009.00 668,161.00 -2,152.00JSA7F0970 1 000

BTI543 685N 02/13/2008 410290019 9 STATEMENT 6

' 0169 ALEX STERN FAMILY FOUNDATION


Statement 1 - Form 990-PF. Part I. Line 16b - Accountinq Fees

Net Adjusted CharitableDescription Total Investment Net Purpose

NIKKI SCHMALTZ TAX PREP & ACCOUN $ 2,440 $ 2,440 $ $

Total $ 2,440 $ 2,440 $ 0 $ 0

Statement 2 - Form 990-PF, Part I , Line 16c - Other Professional Fees

Net Adjusted CharitableDescription Total Investment Net Purpose

STATE BANK & TRUST FIDUCIARY FEE $ 53,120 $ 53,120 $ $

Total $ 53,120 $ 53,120 $ 0 $ 0

Statement 3 - Form 990-PF. Part I. Line 18 - Taxes

Net Adjusted CharitableDescri ption Total Investment Net Purpose

FOREIGN TAXES $ 1,304 $ 1,304 $ $PAYROLL TAXES 1,168 234 934EXCISE TAX 14,426

Total $ 16,898 $ 1,538 $ 0 $ 934

Statement 4 - Form 990 -PF, Part I , Line 23 - Other Expenses

Net Adjusted CharitableDescri ption Total Investment Net Purpose

$ $ $ $Expenses

OFFICE SUPPLIES, ETCDUESINSURANCEWEB SITECLERICAL

Total

100 20980400 805501) 1) G A C

L, Znb 145 ,i U 4) tSl±

80

550101



Statement 5 - Form 990-PF. Part II. Line 10a - US and State Government Investments

Beginning End of Basis of Fair MarketDescription of Year Year Valuation Value

US GOVERNMENT AGENCIES $ 1,595,118 $ 1,191,334 Cost $ 1,180,444

Total $ 1,595,118 $ 1,191,334 $ 1,180,444

Statement 6 - Form 990-PF. Part II. Line 10b - Corporate Stock Investments


INGERSOLL RAND COMPANY $ 64,623 $ Cost $TRANSOCEAN INC. 38,515 CostAES CORP 32,807 Cost 38,502ALCOA 44,814 40,542 Cost 47,698ALLIANCE BERNSTEIN HOLDING LP 21,293 Cost 19,565ALLSTATE CORP 29,027 51,238 Cost 53,275AMERICAN EXPRESS 24,742 24,742 Cost 31,733AMGEN INC 70,876 CostANALOG DEVICES 55,812 58,314 Cost 57,536ANHEUSER BUSCH COS INC 44,237 CostARCHER DANIELS MIDLAND CO 49,340 33,033 Cost 45,981ATT 37,764 Cost 40,729AUTOMATIC DATA PROCESSING 34,878 26,158 Cost 34,956BPPLC 62,394 62,394 Cost 77,194BAC CAP TR II GTD CAP SEC. 58,520 58,520 Cost 52,210BAKER HUGHES INC. 56,246 Cost 57,176BALL CORPORATION 38,781 24,213 Cost 30,150BANK OF AMERICA CORPORATION 46,885 77,073 Cost 71,297BANK NEW YORK INC. 38,353 38,335 Cost 58,853BARRICK GOLD CORP 49,606 Cost 73,377BARR PHARMACEUTICALS 63,637 79,526 Cost 82,571BEST BUY 39,549 Cost 42,383CBS CORPORATION 33,865 33,865 Cost 28,119CVS 63,185 63,185 Cost 83,674CAMECO CORP 64,652 Cost 66,085CAPITAL ONE FINANCIAL CORP 60,006 Cost 37,335CATERPILLAR INC. 59,732 37,611 Cost 44,262CHEESECAKE FACTORY 55,967 CostCHEVRON TEXACO CORP 39,692 39,692 Cost 64,398CISCO SYS INC 68,789 Cost 69,028CITIGROUP CAP VIII TRUPS 57,623 57,623 Cost 48,415CITIGROUP INC 75,102 75,102 Cost 47,104CLAIRE'S STORES INC 46,209 CostCOGNIZANT TECHNOLOGY SOLUTION 50,507 Cost 46,668COMCAST CORP 46,044 Cost 46,015CONOCO PHILLIPS 53,531 53,531 Cost 128,918CONSTELLATION BRANDS 25,361 CostCORTS TR DISNEY NTS PREFERRED 2,492 2,492 Cost 2,531CYTYC CORP 56,505 CostDOW CHEMICAL 40,509 CostDUPONT 58,213 58,213 Cost 59,081EMC CORP 29,589 CostEOG RESOURCES INC. 31,358 CostEMERSON ELECTRIC 45,644 61,757 Cost 101,421

5-6



Statement 6 - Form 990-PF. Part II. Line 10b - Corporate Stock Investments (continued


ERICSSON LM TEL CO $ $ 50,497 Cost $ 47,634EURONET WORLDWIDE 28,013 31,105 Cost 36,300EXELON CORPORATION 49,025 Cost 55,107EXXON MOBIL 51,846 51,846 Cost 85,726FEDERATE NATIONAL MORTGAGE ASSN. 73,142 CostFISERV INC. 32,825 32,825 Cost 48,276FRANKLIN CONVER SECS A 165,117 CostGENENTECH 67,058 Cost 58,686GENERAL ELECTRIC COMPANY 38,027 92,787 Cost 101,386GENERAL MILLS INC 35,919 CostGENZYME CORP 39,283 50,977 Cost 61,785GOLDMAN SACHS GROUP INC. 25,212 CostHALLIBURTON CO 66,247 Cost 76,578HARTFORD FINANCIAL SERVICES GROUP 40,225 40,225 Cost 52,750HOME DEPOT 54,237 CostHUMANA INC 46,668 46,668 Cost 63,637INFOSYS TECHNOLOGIES 36,903 Cost 38,329INTEL CORPORATION 79,668 79,668 Cost 91,177INTERNATIONAL BUSINESS MACH 49,674 49,674 Cost 67,563ISHARES TR RUSL 2000 GROW 99,686 99,686 Cost 129,811J.P. MORGAN CHASE 53,602 30,946 Cost 36,666JOHNSON & JOHNSON 82,160 106,368 Cost 120,394JP MORGAN CHASE PREFERRED 32,305 32,305 Cost 30,680KEYCORP CAP IX PFD 42,760 Cost 37,900KOHLS CORP 43,853 Cost 36,869LILLY ELI & CO 32,959 Cost 32,301LOCKHEED MARTIN 25,018 25,018 Cost 53,156LOWES COMPANIES INC. 58,596 38,832 Cost 32,234MAXIM INTEGRATED PRODS 36,428 Cost 39,720MDU RESOURCES GROUP INC. 35,032 43,622 Cost 50,305MEDCO HEALTH SOLUTIONS 40,495 CostMEDTRONIC INC. 61,989 61,989 Cost 62,586MERRILL LYNCH & CO 32,430 CostMICROSOFT CORP 27,567 42,237 Cost 49,484MOTOROLA INC 69,958 69,958 Cost 58,225MOTOROLA INC. PREFERRED 50,000 50,000 Cost 50,000NABORS INDUSTRIES LTD 59,374 69,080 Cost 57,930NATIONAL CITY CAP TR II 7,120 Cost 6,680NEWMONT MNG 65,005 60,069 Cost 63,479NOKIA CORP SPONSORED ADR 44,859 CostOIL SERVICE HOLDRS TRUST 96,078 Cost 132,314ORACLE CORPORATION 20,040 35,736 Cost 61,531PATTERSON COMPANIES INC 63,708 Cost 63,656PENN WEST ENERGY INC 35,167 Cost 28,730PROCTER & GAMBLE COMPANY 54,298 54,298 Cost 72,319QLOGIC CORP 56,143 Cost 55,025QUALCOMM INCORPORATED 72,971 CostQUESTAR CORP 46,502 46,502 Cost 68,166ROWAN COMPANIES 37,876 37,876 Cost 43,603ST. JUDE MEDICAL 72,138 CostST. PAUL TRAVELERS INC. 49,082 CostSANDISK CORP 46,847 CostSCHLUMBERGER LTD 31,421 2,327 Cost 3,935

6


45-601 3981 Federal StatementsF•YE: 12/31/2007

Statement 6 - Form 990-PF, Part II, Line 10b - Corporate Stock Investments (continued)

Description

SELECT SECTOR SPDR TRSTAPLESTD AMERITRADE HLDGTARGETTEMPLETON INCOME GLOBAL BOND FUND ATEVA PHARMACEUTICAL INDS LTD ADRTEXAS INSTRUMENTS3M COTIME WARNERTRAVELORS COS INCTYCOTYCO INTERNATIONAL LTDUS BANCORPUNITED NATURAL FOODS INC.UNITED TECHNOLOGIES CORPUNITED HEALTH GROUP INC.VERIZONVIACOM INC.VODAFONE GROUPWACHOVIA CORPORATIONWALMART STORES INC.WALGREENWASTE MANAGEMENTWATSCO INCWELLS FARGO & COWELLS FARGO CAP VI GTD CAPZIONS CAPITAL TRUST BBARON GROWTHCALMOS GROWTHDWS DREMAN S/C VALUEJANUS GROWTH & INCOMJANUS MID CAPJULIUS BAER INTL EQUITYRIVERSOURCE DIV EQUITYALLIANZ NFJ DIVIDEND VALNORTHERN SMALL CAP VALUE FD

Total

Beginning End of Basis ofof Year Year Valuation

56,89631,44176, 618

185,25230, 91832,45559,83954,467

58,696

60, 903

27,498

38,53266, 81726,38063,01397,84379,540

44, 96233, 64627,85375,00014,70524,124

181, 440148,80035,298

470,477183,052

80,76356,89638,34476, 618

573,10250,75329, 92459,839

49,082

50, 98093,72334,19027,49866,072

66, 817

87, 649118,78279,54048,346

CostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCostCost

75,000

667,288

193,410205,099

$ 5,855,583 $ 6,480,707

Statement 7 - Form 990-PF, Part II, Line 10c - Corporate Bond Investments

Fair MarketValue

76,84555,02246, 64073,250

597,56367,44233,56765,348

69, 133

46,787100,45740, 12649,75175,078

79, 144

62, 179113,59669,68646,228

74,220

808,702

183,388170, 659

$ 7, 155, 684


ARCHER DANIELS MIDLAND CO $ 21,603 $ 21,603 Cost $ 20,961ASSOCIATES CORPORATION N.A. 198,744 198,744 Cost 202,948BLACK & DECKER CORP 55,208 55,208 Cost 54,176CVS CORP 48,600 48,600 Cost 49,061CAMPBELL SOUP CO 9,843 9,843 Cost 9,999CHUGACH ELECRIC ASSOC. 54,810 54,810 Cost 53,624CONAGRA FOODS INC. 54,720 54,720 Cost 52,576COMPUTER SCIENCES CORP 49,036 49,036 Cost 49,305DEUTSCHE BANK NY 19,900 19,900 Cost 15,600

6-7


45-601 3981 Federal StatementsF•YE: 12/31/2007

Statement 7 - Form 990-PF, Part II, Line 10c - Corporate Bond Investments (continued)

DescriptionBeginningof Year

$ 55,251 $48, 87049,23420, 00536, 95658,24311,05715,72734,42798,29029, 69140,433

End ofVanr

Basis ofValuation

CostCostCostCostCostCostCostCostCostCostCostCostCostCost

Fair MarketVale in

DUQUESNE LIGHT COFIRST DATA CORPFORTUNE BRANDS INCGANNETT CO INC.HORMEL FOOD CORP NOTEKNIGHT RIDDER INC.KOHLS CORPORATIONMCDONALDS CORPPUGET SOUND ENERGY INC.QUAKER OATS CO MED TERM NOTESSLM CORP MTNSOUTHWESTERN BELL TELEPHONEUNILEVER CAP CORPWEYERHAEUSER CO

Total

55,251

49,23420,00536,95658,24311,05715,72734,42798,29029, 691

23,079 23,07927,589 27,589

$ 1,061,316 $ 972,013

$ 53,534

49,07619, 91237,54750,13910,44915,85532,06188,99326,833

21,44926,253

$ 940,351

Statement 8 - Form 990 -PF, Part II , Line 15 - Other Assets

Beginning End of Fair MarketDescription of Year Year Value

ACCRUED INTEREST ON BOND PURCHASED $ 346 $ 243 $

Total $ 346 $ 243 $ 0

Statement 9 - Form 990-PF, Part II , Line 22 - Other Liabilities

Beginning End ofDescription of Year Year

CALL STOCKS-EXXON & VERIZON $ 3,586 $

Total $ 3,586 $ 0

7-9



Form 990-PF, Part XV, Line 1a - Managers Who Contributed Over 2% or $5,000

Name of Manager Amount

NONE

Total 0

Form 990-PF, Part XV, Line 1 b - Managers Who Own 10% or More Stock

Name of Manager Amount

NONE

Total 0

Form 990-PF, Part XV, Line 2b - Application Format and Required Contents

SEE ATTACHED SCHEDULE

Form 990-PF, Part XV, Line 2c - Submission Deadlines

Description

MARCH 31 AND AUGUST 31

Form990-PF, Part XV, Line 2d - Award Restrictions or Limitations

Description

FARGO MOORHEAD AREA ACTIVITIES


45-6013981 Federal StatementsEYE: 12/31/2007

Statement 10 - Form 990-PF, Part XV, Line 3a - Grants and Contributions Paid During theYear

Name Address Address

Relationship Status Purpose Amount

AMERICAN LEGION POST # 2 FARGO ND 58102NONE PUBLIC MERMORIAL & PARK BLDG 5,000

CAMP FIRE USA MOORHEAD MN 56560NONE PUBLIC NEW ADVENTURE AND GREAT DAYS OUT 5,000

FM AREA YOUTH SYMPHONIES FARGO ND 58102NONE PUBLIC GENERAL OPERATING 3,500

FM SYMPHONY ORCHESTRA FARGO ND 58102NONE PUBLIC YOUNG PEOPLE CONCERT 10,000

FRASER LTD FARGO ND 58103NONE PUBLIC SKILLS ENHANCEMENT PROGRAM 10,000

HANDI-WHEELS TRANSPORTATI FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 10,000

THE LEARNING BANK FARGO ND 58102NONE PUBLIC ELEMENTARY FINE ARTS SERIES 3,500

MINNESOTA PUBLIC RADIO MOORHEAD MN 56560NONE PUBLIC CLASSICAL MUSIC FESTIVAL 1,750

ND 4-H FOUNDATION FARGO ND 58102NONE PUBLIC YOUTH & VOLUNTEER PROGRAM 2,500

FM COMMUNITY THEATRE FARGO ND 58102NONE PUBLIC TEACHERS ADVISORY PANEL 5,000

PARK CHRISTIAN SCHOOL MOORHEAD MN 56560NONE PUBLIC CAPITAL CAMPAIGN 15,000

RAPE & ABUSE CRISIS CENTE FARGO ND 58102NONE PUBLIC CRIMINAL JUSTICE INTERVENTION 10,422

VILLAGE FAMILY SERVICE CE FARGO ND 58102NONE PUBLIC BIG BROTHER /BIG SISTER 10,000

CHARISM FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 5,000

CONCORDIA COLLEGE MOORHEAD MN 56560NONE PUBLIC SCHOLARSHIP 7,500

FM CHAMBER CHORALE FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 1,000

FM CIVIC OPERA FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 12,000

FIRST CHOICE CLINIC FARGO ND 58102NONE PUBLIC PATIENT EDUCATION STAFF PERSON 5,000

FIRST LINK FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 3,000

JAMESTOWN COLLEGE JAMESTOWN NDNONE PUBLIC SCHOLARSHIP 7,500

LAKE AGASSIZ GIRLS CHOIR FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 5,000

LAKES & PRAIRIES COMMUNIT MOORHEAD MN 56560NONE PUBLIC GENERAL OPERATING SUPPORT 10,000

MOORHEAD TECHNICAL COLLEG MOORHEAD MN 56560NONE PUBLIC SCHOLARSHIP 7,500

ND SCOTTISH RITE MASONS C FARGO ND 58102NONE PUBLIC GENERAL OPERATING 2,500

NOKOMIS CHILD CARE FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 10,000

YWCA FARGO ND 58102NONE PUBLIC GENERAL OPERATING SUPPORT 15,000

10


45-60,13981 Federal StatementsFYE: 12/31/2007

Statement 10 - Form 990-PF, Part XV, Line 3a - Grants and Contributions Paid During theYear (continued)

Name Address Address

Relationship Status

IMPACT FOUNDATIONNONE PUBLIC

KAMP KACE INCNONE PUBLIC

RED RIVER BOYS CHOIRNONE PUBLIC

CASS COUNTY HISTORICAL SONONE PUBLIC

FARGO CATHOLIC SCHOOLS NENONE PUBLIC

FARGO PUBLIC SCHOOLSNONE PUBLIC

ND STATE SCHOOL OF SCIENCNONE PUBLIC

OAK GROVENONE PUBLIC

PRAIRIE PUBLIC TVNONE PUBLIC

TROLLWOOD PERFORMING ARTSNONE PUBLIC

ND CARING FOUNDATIONNONE PUBLIC

DAILY BREADNONE PUBLIC

HUMANE SOCIETYNONE PUBLIC

Total

Purpose Amount

FARGO ND 58102GEN OPERATING/GRANT WRITER 125,000

FARGO ND 58102GENERAL OPERATING 5,000



FARGO ND 58102CAPITAL CAMPAIGN 50,000

FARGO ND 58102MILK LOW INCOME CHILDREN 7,500

WAHPETON NDSCHOLARSHIPS 7,500

FARGO ND 58102CAPITAL CAMPAIGN 50,000

FARGO ND 58102CHILDREN'S PUBLIC AFFAIR PROGRAM 5,000

FARGO ND 58102STUDENT AT RISK, LEADERSH IP PROGRAM 15,000

FARGO ND 58102HEALTH CARE INS- LOW INCOME CHILDREN 5,000


FARGO ND 58102EQUIPMENT PURCHASES 1,500

474, 172

10

I^ 1 1 W, 1u 1j,-: FIC'l1-UIIF ; 01-%; 1-0402; T-P00i1 011. F-; 61

ALEX STERN FAMILY FOUNDATION

COMMON GRANT APPLICATION FORM

COVER SHEET Datc of Application:(You may reproduce this fo rm on your computer)

ORGANIZATION INFORMATION:

L.°ûl Nanme o/ O,F'cnrr(j1tO,g

Ar1d/ c'sr

y/S76 1e/Zip Telephone^ I^l.ti

Individuals Responsible:

Nome of lop paid .S;a[f Title Direct dial Phone it

Contact Pcisou (r,dlffeiellt f'om top Paid staff Title Direcl dial P/tone it

E-Mail ar/dress cfco'ilacl pet.$ Ott

Organization Description : (2-3 sentences)

iS Your Cuganuzation an IRS 501(c)(3) not-for-pi ofit? Yes NoIf no, is your organization a public agency/unit of government or iehgious institution Yes NoIf no, name of fiscal agent (1iscul sponsor)-

AMOUNT & TYPE OF SUPPORT REQUESTED:The dollar amount being requested: $

Funds are being requested for (make sure the finder provides the type of support you ale requesting, then check the appiopriate line)_x gclteta] operating support capital --other.- J)1'Oject stippori endommient

__ _stat t-up costs technical assistance

1 f ., pio4ect, give pl VIeCt duration lvionth _Yeal toMonth YearIf operating support, fiscal yeas Month- Year to Mollth Year

BUDGET:Total annual o i ganizatlon budget. $Total project budget (for support othei than general operating)' S

PROPOSAL, SUMMARY:(lf opua/tng ol stall-lip support'elot"d 10 Me oganizatton I/'p'Ojc a and otbei support , ic/ote to thepioleci)

Project name ( if applying for project support)'Plt.iw give , 2-3 sentence sum ary of the lcquest-

Geogiaphic area served,

Population tiei ved

AUTHORIZATION:Nallle of top paid staff and/or Board Chau (t\Z)e)

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04 /24/2007 "I'l'l; 09 59 1 No 0.3201 I 00 1

ALEX STERN JAMIL ' FOUNDATION

(JflANT APPLICATION FORM

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ALEX STERN FAMILY FOUNDATION990s.foundationcenter.org/990pf_pdf_archive/456/...3 Averagedistribution ratio for the 5-year base period-divide the total on line 2 by5, or bythe numberof