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Return of Private Foundation
Form 9%-0-PF
Department of the Treasury
InternaT Revenue Service
OMB No 1545-0052
or Section 4947 (a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
2005
r ote: The organization may be able to use a copy of this return to satisfy state reporting requirements.
For calendar year 2005, or tax year beginning
, and ending
I I Final return
I I Amended return
I X I Address change
I I Name change
6 Check all that apply:
C I Initial return
A Employer identification number
Use the IRS Ma™ of organization
label.
Otherwise,
t
lililn iliilnllltiiiililiiliililniili nillliulilili lulil
JZI
29 IG 2 0 0 5 1 2 03 04
<5»BQn.V-r, W H I T N E Y F O U N D A T I O N
SeeSpecmc 8 2 1 M A R 3 U E T T E A V E S T E 1900
Instructions. ^ M I N N E A P O L I S MN 5 5 4 0 2 - 2 9 2 1
3
0000
IsmtB
R
C If exemption application is p<mding, check here
S
1 X 1 Section 501(c)(3) exempt private foundation
H C heck type of organization:
] Section 4947(a)(1) nonexempt charitable trust I I Other taxable private foundation
I Fair market value of all assets at end of year J Accounting method: LXJ Cash
1
I I Other (specify)
(fr om Part II, col. (c), line 16)
_c
D 1. Foreign organizations.check here
I Part
* 1 1 Analysis of Revenue and Expenses
(a) Revenue and
expenses per books
(The total of amounts in columns (b), (c), and (d) may not
necessarily equal the amounts in column (a).)
1 Contributions, gifts, grants, etc., received
2
Check ^ I
^I
I
fr-l
I
2. Foreign organizations meiatmg the 85% test, ^ I
check here and attach COimputation
^I
I
1
E If private foundation status was terminated .—.
under section 507(b)(1) A), check here M I
1 Accrual
F If the foundation is in a E0-month termination
under section 507(b)(1) B), check here ^-l I
(d) Disbursements
(c) Adjusted net
for charitable purposes
income
(cash basis only)
2 , 0 2 2 , 6 1 3 . (Part '• column (d) must be on cash basis)
$
41-6022514
B Telephone number
(952)
835-2577
(b) Net investment
income
136,521.
N/A
I ilttieloundationisnotFequirecltoattachScti B
, Interest on savings and temporary
J cash investments
62,327.
4 Dividends and interest from securities
5a Gross rents
STATEMENT 2
54.142.
Revenue
b Net rental income or (loss)
7
249.581.
Capital gam net income (from Part IV, line 2)
8 Net short-term capital gam
9 Income modificafcens
Gross sales less etum
10a and allowances
s
-
DECEIVED
0 \ E—• \L^ l—• i v
b Less Cost of got ds si
c Gross profit or (lfi$ 0
NOV 1 4
11 Other income yj
12 Total. Add lint 5 1 1TOigh 11 ,
13
tr&W^FO
WON 16iffi.
} w / » > Operating and Administrative Expenses
14
2008
Compensation ol officers/dnfepasTMAteaakBtc III
Other employe salaripg antfinagpR
J
^
h
1£
<14,193. >
250.273.
<16.798. >
286.925.
STATEMENT 3
0.
0.
0.
2.100.
11.004.
1,643.
11.428.
0.
7.113.
1,643.
2.100.
3.891.
515.
0.
25.
1,478.
0.
1,478.
2,705.
130.
2.575.
30.358.
546,768.
9.401.
10.069.
546.768.
577.126.
9.401.
556.837.
!
15
16a
b
c
17
18
19
20
21
22
23
24
Pension plans, employee benefits
Legal fees
Accounting fees
STMT 4
Other professional fees
STMT 5
Interest
Taxes
STMT 6
Depreciation and depletion
Occupancy
Travel, conferences, and meetings
Printing and publications
Other expenses
STMT 7
Total operating and administrative
expenses. Add lines 13 through 23
25 Contributions, gifts, grants paid
26 Total expenses and disbursements.
Add lines 24 and 25
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements
<326.853.
b Net investment income (if negative, enter -0-)
C Adjusted net income (if negative, enter -0-)
LHA For Privacy Act and Paperwork Reduction Act Notice, see the instructions
523501
01-05-09
STATEMENT 1
65.618.
6a Net gam or (loss) from sale of assets not on line 10
,. Gross sales price for all
«j n n
n t c
b assats on Una Ba
&&U , U 4 D .
277.524.
N/A
Form 990-PF (2005)
Form 990-RF (2005)
o
_•. ii
1 Pqirt II
r
oaiance aneeis
MamsMitlna,iai^a,imam^Dntl
1
Cash - non-interest-bearing
Savings and temporary cash investments
Accounts receivable ^
(c) Fair Market Value
(b) Book Value
(a) Book Value
28,103.
505,058.
41,562.
224,485.
41,562.
224,485.
5,310.
8.147.
8.147.
1,653,229.
1.590.653.
1,748.419.
2,191.700.
1,864,847.
2.022.613.
0.
0.
0.
0.
2.191,700.
2,191,700.
0.
0.
1,864,847.
1,864,847.
2,191.700.
1.864.847.
8,147.
Less: allowance for doubtful accounts ^•
4
Page 2
ciiu ui yedi
Ralanr-o ^hootc wmlieusciieduies and amounts in me description
2
3
41-6022514
WHITNEY FOUNDATION
Pledaes receivable >•
Less: allowance for doubtful accounts ^-
5
Grants receivable
6
Receivables due from officers, directors, trustees, and other
disqualified persons
7
Other notes and loans receivable
^-
Less: allowance for doubtful accounts ^•
(0
8
Inventories for sale or use
9
Prepaid expenses and deferred charges
10a Investments - U.S. and state government obligations
b Investments - corporate stock
c Investments - corporate bonds
11
investments -land, buildlnjs.anb equipment basis
^•
Less accumulated depreciation
^
12
Investments - mortgage loans
13
Investments - other
STMT
8
14 Land, buildings, and equipment basis ^Less accumulated depreciation
^15
Other assets (describe ^-
)
16 Total assets (to be completed bv all filers)
17 Accounts payable and accrued expenses
Liabilities
18
Grants payable
19
Deferred revenue
20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable
22
Other liabilities (describe ^
23
Total liabilities (add lines 17 through 22)
|
Net Assets or Fund Balances
Organizations that follow SFAS 117, check here
)
>• I
I
and complete lines 24 through 26 and lines 30 and 31.
24
Unrestricted
25
Temporarily restricted
26
Permanently restricted
Organizations that do not follow SFAS 117, check here
^ IX I
and complete lines 27 through 31.
27
Capital stock, trust principal, or current funds
28
Paid-in or capital surplus, or land, bldg., and equipment fund
29
Retained earnings, accumulated income, endowment, or other funds
30
Total net assets or fund balances
31 Total liabilities and net assets/fund balances
| Part IH | Analysis of Changes in Net Assets or Fund Balances
1 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)
2 Enter amount from Part I, line 27a
3 Other increases not included in line 2 (itemize) >•
4 Add lines 1,2, and 3
5
Decreases not included in line 2 (itemize) ^•
6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b), line 30
523511
01-05-08
1
2
3
4
5
6
2,191.700.
<326.853.>
0.
1.864,847.
0.
1.864,847.
Form 990-PF (2005)
41-6022514
WHITNEY FOUNDATION
Capital Gains and Losses for Tax on Investment Income
Form 990-PE (2005)
| Part IV
<b),Hop' archq,uJpeti
D- Donation
(a) List and describe the kmd(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)
(c) Date acquired
(mo., day, yr.)
Pages
(d) Date sold
(mo., day, yr.)
1a
b
SEE ATTACHED STATEMENTS
c
d
e
(e) Gross sales price
(f) Depreciation allowed
(or allowable)
(h) Gam or (loss)
(e) plus (f) minus (g)
(g) Cost or other basis
plus expense of sale
a
b
c
d
e
44,027.
220,046.
249,581.
Complete only for assets showing gam in column (h) and owned by the foundation on 12/31/69
(i)F.M.V. as of 12/31/69
(j) Adjusted basis
as of 12/3 1/69
(1) Gams (Col. (h) gam minus
col. (k), but not less than -0-) or
Losses (from col. (h))
(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
249,581.
2 Capital gam net income or (net capitol loss).
3 Net short-term capital gam or (loss) as defined in sections 1222(5) and (6):
If gam, also enter in Part I, line 8, column (c).
If (loss), enter -0- in Part I, line 8
Part V
2
{ |j R'SK- mBrt'f line? )
249,581.
,
I
/
3
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
N/A
(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.
I Yes
Was the organization liable for the section 4942 tax on the distributable amount of any year in the base period?
No
If *Yes.' the organization does not qualify under section 4940(e). Do not complete this part
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years
Calendar year (or tax year beginning in)
(b)
Adjusted qualifying distributions
2004
2003
2002
2001
2000
713.438.
487.238.
460.938.
528,690.
954.983.
(d)
Distribution ratio
(col. (b) divided by col. (c))
(c)
Net value of nonchantable-use assets
2.175.672.
1.960,239.
1.989,586.
1.820.734.
1.630.905.
.327916
.248561
.231675
.290372
.585554
2
1.684078
3
.336816
4 Enter the net value of noncharrtable-use assets for 2005 from Part X, line 5
4
2.160.881.
5
5
727.819.
6 Enter 1% of net investment income (1% of Part I, line 27b)
6
2,775.
7 Add lines 5 and 6
7
730.594.
8 Enter qualifying distributions from Part XII, line 4
8
556.837.
2 Total of line 1, column (d)
3 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
Multiply line 4 by line 3
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate.
See the Part VI instructions.
523521/01-05-08
Form 990-PF (2005)
Form 990-PF (2005)
41-6022514
Page 4
WHITNEY FOUNDATION
Part VI | Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here ^-1 I and enter "N/A1 on line 1.
Date of ruling letter:
(attach copy of ruling letter if necessary-see instructions)
b Domestic organizations that meet the section 4940(e) requirements in Part V, check here ^-1 I and enter 1%
of Part I, line 27b
c All other domestic organizations 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-)
3 Add lines 1 and 2
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -06 Credits/Payments:
a 2005 estimated tax payments and 2004 overpayment credited to 2005
I 6a I
8,196.
6b
b Exempt foreign organizations - tax withheld at source
6c
c Tax paid with application for extension of time to file (Form 8868)
3.800.
6d
d Backup withholding erroneously withheld
14.
7 Total credits and payments. Add lines 6a through 6d
8 Enter any penalty for underpayment of estimated tax Check here I Xj if Form 2220 is attached
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid
11 Enter the amount of line 10 to be: Credited to 2006 estimated tax^.
2 . 5 6 0 . Refunded
5.550
5.550
5.550.
12.010,
6.460
3.900,
10
11
| Part VII-A I Statements Regarding Activities
1a During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene in
any political campaign?
b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)?
If the answer is "Yes" to la or ib, attach a detailed description of the activities and copies of any matenals published or
distnbuted by the organization in connection with the activities.
1a
1b
c Did the organization file Form 1 120-POL for this year?
d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the organization. ^- $
0 . (2) On organization managers. ^-$
0.
e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on organization
managers. ^- $
0.
2 Has the organization engaged in any activities that have not previously been reported to the IRS?
If "Yes, " attach a detailed descnption of the activities.
3 Has the organization 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
4a Did the organization have unrelated business gross income of $1,000 or more during the year?
b If "Yes,1 has it filed a tax return on Form 990-T for this year'
5 Was there a liquidation, termination, dissolution, or substantial contraction during the year?
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?
7 Did the organization have at least $5,000 in assets at any time during the year?
If "Yes. " complete Part II, col (c), and Part XV
8a Enter the states to which the foundation reports or with which it is reqistered (see instructions) ^•
MN
b If the answer is "Yes" to line 7, has the organization 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
9 Is the organization claiming status as a private operating foundation within the meaning of section 4942(])(3) or 4942(j)(5) for calendar
year 2005 or the taxable year beginning in 2005 (see instructions for Part XIV)? If °Yes, " complete Part XIV
10
Did any persons become Substantial contributors during the tax year' H "Yes,- attach a schedule listing their names and addresses
1 1 Did the organization comply with the public inspection requirements for its annual returns and exemption application?
Web site address ^N/A
12 The books are in care of
Telephone n o . » > ( 9 5 2 )
MERISTEM
Located at »> 601
523531
01-05-08
1c
X
2
X
X
3
4a
4b
5
X
X
6
7
X
X
8b
X
9
10
11
X
X
X
X
835-2577
^-55305
CARLSON PARKWAY. NO 800. MINNETONKA. MN
13 Section 4947(a)( 1 ) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1 04 1 • Check here
and enter the amount of tax-exempt interest received or accrued during the year
Yes No
X
X
13
N/A
Form 990-PF (2005)
Form 990-PE (2005)
41-6022514
WHITNEY FOUNDATION
Part VII-B | Statements Regarding Activities for Which Form 4720 May Be Required
^file Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
1a During the year did the organization (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person?
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person'
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
(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)?
b
c
2
a
b
c
Pages
Yes No
I No
I
I Yes
I
!
I
I Yes
I No
I Yes nrlsc
[NO
I Yes
I I Yes
I No
(6) Agree to pay money or property to a government official? (Exception. Check 'No'
if the organization agreed to make a grant to or to employ the official for a period after
termination of government service, if terminating within 90 days.)
I I Yes
No
If any answer is "Yes1 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 20 of the instructions)?
N/A
Organizations relying on a current notice regarding disaster assistance check here
Did the organization engage in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected
before the first day of the tax year beginning in 2005?
Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundation
defined in section 4942(0(3) or 4942(0(5)):
At the end of tax year 2005, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginning
No
before 2005?
CH Yes
If "Yes,1 list the years ^
,
,
,
.
Are there any years listed in 2a for which the organization 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 W and attach
statement - see instructions.)
N/A
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
1b
1c
2b
3a Did the organization hold more than a 2% direct or indirect interest in any business enterprise at any time
during the year?
I I Yes I X I No
b If "Yes," did it have excess business holdings in 2005 as a result of (1) any purchase by the organization 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 4 720, to determine if the organization had excess business holdings in 2005 )
N/A
4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes?
b Did the organization make any investment in a prior year (but after December 31,1969) that could jeopardize its charitable purpose that
had not been removed from jeopardy before the first day of the tax year beginning in 2005'
5a During the year did the organization pay or incur any amount to:
i
i
i
i
I I Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
(2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly,
any voter registration drive?
CD Yes
No
CHYes
(3) Provide a grant to an individual for travel, study, or other similar purposes'
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)'
dhes
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?
I 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 instructions)?
N/A
Organizations relying on a current notice regarding disaster assistance check here
^I
X
3b
4a
X
4b
X
5b
I
c If the answer is "Yes" to question 5a(4), does the organization claim exemption from the tax because it maintained
expenditure responsibility for the granf
N/A
I
I Yes I
I No
I
I Yes I X I No
If "Yes," attach the statement required by Regulations section 53 4945-5(d).
6a Did the organization, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract?
b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?
If you answered "Yes" to 6b, a/so file Form 8870.
6b
X
Form 990-PF (2005)
523541
01-05-00
Part VIII
WHITNEY FOUNDATION
41-6022514
Information About Officers, Directors, Trustees, Foundation Managers, Highly
Paid Employees, and Contractors
1 Cist all officers, directors, trustees, foundation managers and their compensation.
(b) Title, and average
hours per week devoted
(a) Name and address
to position
SEE STATEMENT
(c) Compensation (d) Contributions to
employee benefit plans
(If not paid,
and deferred
compensation
enter -0-)
2 Compensation of five highest-paid employees (other than those included on line 1). If none, enter "NONE."
(b) Title and average
nours per week
(a) Name and address of each employee paid more than $50,000
(c) Compensation
devoted to position
(e) Expense
account, other
allowances
0.
0.
9
(d) Contributions to
employee benefit plans
and deferred
compensation
Page 6
0.
(e) Expense
account, other
allowances
NONE
Total number of other employees paid over $50,000
3 Five highest-paid independent contractors for professional services. If none, enter "NONE.1
(a) Name and address of each person paid more than $50,000
(c) Compensation
(b) Type of service
NONE
Total number of others receiving over $50,000 for professional services
0
^-
Part IX-AI Summary of Direct Charitable Activities
List the foundation's four largest direct charitable activities during the tax year. Include relevant statistical information such as the
number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.
1
Expenses
N/A
2
3
4
523551
01-05-00
Form 990-PF (2005)
Form 990-Pf (2005)
41-6022514
WHITNEY FOUNDATION
Pqrt IX-BI Summary of Program-Related Investments
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.
1
Amount
N/A
2
All other program-related investments. See instructions.
3
Total. Add lines 1 through 3
Part X
1
0.
^-
| Minimum Investment Return (All domestic foundations must complete this part Foreign foundations, see instructions)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes:
a Average monthly fair market value of securities
b Average of monthly cash balances
c Fair market value of all other assets
d Total (add lines 1a, b, and c)
1a
1b
1c
1d
1.787.455.
399.604.
6.729.
2,193.788.
2
3
4
5
6
0.
2,193.788.
32.907.
2,160,881.
108.044.
e Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation)
1e
2
Acquisition indebtedness applicable to line 1 assets
3
Subtract line 2 from line 1d
4
Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see instructions)
5
6
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
Part XI
1
I Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain
' foreign organizations check here ^- I
I and do not complete this part.)
Minimum investment return from Part X, line 6
2a Tax on investment income for 2005 from Part VI, line 5
b Income tax for 2005. (This does not include the tax from Part VI.)
2a
5,550.
2b
241.
c Add lines 2a and 2b
3
0.
Distributable amount before adjustments. Subtract line 2c from line 1
4
Recoveries of amounts treated as qualifying distributions
5
Add lines 3 and 4
6
7
Deduction from distributable amount (see instructions)
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1
,044.
1
108
2c
3
4
5
6
7
.791.
,253.
0.
102 . 2 5 3 .
0.
102 , 2 5 3 .
1a
1b
2
556,837.
0.
5
102
Part XII Qualifying Distributions (see 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
b Program-related investments - total from Part IX-B
2
3
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc., purposes
Amounts set aside for specific charitable projects that satisfy the:
a Suitability test (prior IRS approval required)
b Cash distribution test (attach the required schedule)
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
5
Organizations that qualify under section 4940(e) for the reduced rate of tax on net investment
6
Adjusted qualifying distributions Subtract line 5 from line 4
3a
3b
4
556.837.
0.
5
556.837.
6
Note: 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.
income. Enter 1% of Part I, line 27b
Form 990-PF (2005)
523561
01-05-06
Form 990-PE(2005)
41-6022514
WHITNEY FOUNDATION
Pages
Part XIII I Undistributed Income (see instructions)
(b)
(a)
Corpus
(d)
(c)
2004
Years prior to 2004
2005
1 Distributable amount for 2005 from Part XI,
line?
2
102.253.
Undistributed income, if any, as of the end of 2004
0.
a Enter amount for 2004 only
b Total for prior years:
0.
3 Excess distributions c; rryover, if any, to 2005:
a From 2000
916,801.
b From 2001
460,548.
c From 2002
364.774.
d From 2003
395.504.
622.542.
e From 2004
f Total of lines 3a throuj he
4 Qualifying distributions for 2005 from
556,837.
Part XII, line 4: *•$
a Applied to 2004, but not more than line 2a
b Applied to undistnbuted income of prior
years (Election require J - see instructions)
c Treated as distribution > out of corpus
(Election required - see nstructions)
d Applied to 2005 distnb u table amount
e Remaining amount dis nbuted out of corpus
5
Excess distributions carryc ver applied to 2005
(If an amount appears in co lunon (d), the same amount
must be shown in column a))
2,760,169.
0.
0.
0.
102,253.
454.584.
0.
0.
6 Enter the net total of e ach column as
indicated below:
a Corpus Add lines 3f, 4c, aiid4e Subtract line 5
b Prior years' undistributed income. Subtract
line 4b from line 2b
c Enter the amount of pr or years'
undistributed income f or which a notice of
deficiency has been iss ued, or on which
the section 4942(a) tax has been previously
assessed
d Subtract line 6c from hne 6b. Taxable
amount - see mstructic ns
e Undistributed income f or 2004. Subtract line
4a from line 2a. Taxable amount - see mstr.
f Undistributed income 1or 2005. Subtract
lines 4d and Strom lin j 1. This amount must
be distributed in 2006
7 Amounts treated as distnbutions out of
corpus to satisfy requn ements imposed by
section 170(b)(1)(E)o 4942(g)(3)
8 Excess distributions ca rryover from 2000
not applied on line 5 or line 7
9 Excess distributions carryover to 2006.
Subtract lines 7 and 8 from line 6a
10 Analysis of line 9:
a Excess from 2001
460,548.
b Excess from 2002
364.774.
c Excess from 2003
395.504.
d Excess from 2004
622,542.
e Excess from 2005
454,584.
3,214.753.
0.
0.
0.
0.
0.
0.
916,801.
2.297,952.
Form 990-PF (2005)
523571
01-05-O6
41-6022514
Form 990-PE (2005)
WHITNEY FOUNDATION
| Part XIV | Private Operating Foundations (see instructions and Part VII-A, question 9)
1
1 a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective fo r 2005, enter the date of the ruling
*•
b Check box to indicate whether the orgar ization is a private operating foundation described in section
Prior 3 years
Tax year
2 a Enter the lesser of the adjusted net
(c) 2003
(b) 2004
(a) 2005
income from Part I or the minimum
b
c
d
e
3
a
Page 9
N/A
4942(|)(3) or
I
(d) 2002
I 4942fiW5)
(e) Total
investment return from Part X for
each year listed
85% of line 2a
Qualifying distributions from Part XII,
line 4 for each year listed
Amounts included in line 2c not
used directly for active conduct of
exempt activities
Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c
Complete 3a, b, or c for the
alternative test relied upon:
"Assets' alternative test - enter:
(1) Value of all assets
(2) Value of assets qualifying
under section 4942(])(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 gross
investment income (interest,
dividends, rents, payments on
securities loans (section
512(a)(5)), or royalties)
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(|)(3)(B)(in)
(3) Largest amount of support from
an exempt organization
(4) Gross investment income
Part XV 1 Supplementary Information (Complete this part only if the organization had $5,000 or more in assets
at any time during the year-see page 26 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).)
WHEELOCK WHITNEY
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
NONE
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here ^ I I if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. If
the organization makes gifts, grants, etc. (see 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:
CAROL VANORNUM, WHITNEY FNDN, 821 MARQUETTE,
MPLS,
MN
55402
b The form in which applications should be submitted and information and materials they should include:
NO PARTICULAR FORM
c Any submission deadlines:
NONE
d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors:
CHARITABLE 5 0 1 ( C ) ( 3 ) ORGANIZATIONS, NOT 5 0 9 ( A ) ( 2 )
523581/01-05-08
Form 990-PF (2005)
Form 990-PE (2005)
WHITNEY FOUNDATION
41-6022514
Page 10
part
XV |L. Supplementary
Information (continued)
—^
— ...
3
Grants and Contributions Paid During the Year or Approved for Future Payment
If recipient is an individual,
Recipient
Foundation
show any relationship to
status of
any foundation manager
Name and address (home or business)
recipient
or substantial contributor
a Paid during the year
SCHEDULE ATTACHED
NONE
EXEMPT
Total
b Approved for future payment
Purpose of grant or
contribution
Amount
TO PROVIDE
SUPPORT FOR
PUBLIC
CHARITABLE ORG
546,768.
> 3a
546.768.
NONE
Total
^ 3b
523601/01-05-06
0.
Form 990-PF (2005)
10
Form 990-PF-(2005)
I Part XVI-A]
WHITNEY FOUNDATION
41-6022514
Page 11
Analysis of Income-Producing Activities
Unrelated business income
Enter gross amounts unless otherwise indicated.
D
1 Program service revenue:
a
b
c
d
e
f
g Fees and contracts from government agencies
2 Membership dues and assessments
3 Interest on savings and temporary cash
investments
4 Dividends and interest from securities
5 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 Gam or (loss) from sales of assets other
than inventory
9 Net income or (loss) from special events
10 Gross profit or (loss) from sales of inventory
11 Other revenue:
a WMC HEDGE FUND. LLP b IHW
c WMC HEDGE FUND. LLP d KKW
e
12 Subtotal. Add columns (b), (d), and (e)
(3)
Business
code
(b)
Excluded by section 512, 513, or 514
Exclusion
code
Amount
14
(0
Amount
(e)
Related or exempt
function income
62,327.
14
18
525990
1.884. 14
721.
525990
2.605.
13 Total. Add line 12, columns (b), (d), and (e)
14
65.618.
<12.154. >
<4.644.>
111.147.
13
0.
113.752
(See worksheet in line 13 instructions to verify calculations.)
Part XVI-B I
Line No.
T
523611
01-05-08
Relationship of Activities to the Accomplishment of Exempt Purposes
Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of
the organization's exempt purposes (other than by providing funds for such purposes).
11
Form 990-PF (2005)
WHITNEY FOUNDATION
41-6022514 Paaei2
Information Regarding Transfers To and Transactions and Relationships With Noncharitable
Exempt Organizations
Yes No
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of
Form 990-PF(2005)
I Part XVII]
the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting organization to a nonchantable exempt organization oft
(1) Cash
1a(1)
(2) Other assets
1a(2)
X
X
Other transactions:
(1) Sales of assets to a nonchantable exempt organization
1b(1)
(2) Purchases of assets from a nonchantable exempt organization
1b(2)
(3) Rental of facilities, equipment, or other assets
1b(3)
(4) Reimbursement arrangements
1b(4)
(5) Loans or loan guarantees
1b(5)
(6) Performance of services or membership or fundraismg solicitations
1b(6)
1c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees
X
X
X
X
X
X
X
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 organization received less than fair market value in any transaction or sharing arrangement, show in
column (d) the value of the goods, other assets, or services received.
(a) Line no
(b) Amount involved
(c) Name of nonchantable exempt organization
(d) Description of transfers, transactions, and sharing arrangements
N/A
2a
Is the organization 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'
b
If "Yes.' complete the following schedule.
(a) Name of organization
I Yes
(b)Type of organization
I No
(c) Description of relationship
N/A
Under penalties of perjury, 1 declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,
and complete Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge
I
c
O)
55
Signature of officer or trustee
Preparer's L
signature T
Firm's name (odours
Title
Date
Date
11/03/06
JEAN E. WICKS. CPA
VIRCHOW,
KRAUSE & COMPANY,
LLP
^7900 XERXES AVE. SO., SUITE 2400
address.atiflZIPcod! |r I
MINNEAPOLIS. MN 55431-1115
Check if
selfemployed w-
EIN »>
Preparer's SSN or PT1N
I— |
\_ I P00030316
39-0859910
nsen-employed),
523621
01-05-06
12
Phoneno.
( 9 5 2 ) 835-1344
Form 990-PF (2005)
Schedule B
(Form 990, 990-EZ, or
• 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
OMB No 1545-0047
Supplementary Information for
line 1 of Form 990, 990-EZ, and 990-PF (see instructions)
2005
Name of organization
Employer identification number
41-6022514
WHITNEY FOUNDATION
Organization type (check one)'
Filers of:
Section:
Form 990 or 990-EZ
I
| 501 (c)(
I
| 4947(a)(1) nonexempt charitable trust not treated as a pnvate foundation
I
| 527 political organization
Form 990-PF
) (enter number) organization
|_XJ 501(c)(3) exempt pnvate foundation
I
I 4947(a)(1) nonexempt charitable trust treated as a pnvate foundation
I
I 501 (c)(3) taxable pnvate foundation
Check if your organization is covered by the General Rule or a Special Rule. (Note: Only a section 501(c)(7), (8), or(10) organization can check boxes
for both the General Rule and a Special Rule-see instnjctions.)
General RuleI X I For organizations filing Form 990, 990-EZ, or 990-PF that received, dunng the year, $5,000 or more (in money or property) from any one
contributor. (Complete Parts I and II.)
Special RulesI
I For a section 501 (c)(3) organization filing Form 990, or Form 990-EZ, that met the 33 1/3% support test under Regulations
sections 1.509(a)-3/1 170A-9(e) and received from any one contnbutor, dunng the year, a contnbution of the greater of $5,000 or 2%
of the amount on line 1 of these forms (Complete Parts I and II.)
I
I For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contnbutor, dunng the year,
aggregate contnbutions or bequests of more than $1,000 for use exclusively for religious, chantable, scientific, literary, or educational
purposes, or the prevention of cruelty to children or animals. (Complete Parts I, II, and III.)
I
I For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contnbutor, during the year,
some contributions for use exclusively for religious, chantable, etc., purposes, but these contnbutions did not aggregate to more than
$1,000. (If this box is checked, enter here the total contnbutions that were received dunng the year for an exclusively religious,
chantable, etc , purpose. Do not complete any of the Parts unless the General Rule applies to this organization because it received
nonexclusively religious, charitable, etc , contnbutions of $5,000 or more during the year.)
^- $
Caution: Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), but
they must check the box in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form 990-PF, to certify that they do not meet the filing
requirements of Schedule B (Form 990, 990-EZ, or 990-PF).
LHA For Paperwork Reduction Act Notice, see the Instructions
for Form 990, Form 990-EZ, and Form 990-PF.
523451 02-01-06
Schedule B (Form 990, 990-EZ, or 990-PF) (2005)
Schedule B (Form flap, B90-EZ, or BSO-PF) (2005)
Page
Name of organization
1 o(
2 of Part I
Employer identification number
*
WHITNEY FOUNDATION
Part I
Contributors (See Specific Instructions.)
(b)
Name, address, and ZIP + 4
(a)
No.
1
41-6022514
(c)
Aggregate contributions
BENSON K. WHITNEY
$
601 CARLSON PKWY. # 8 0 0
MINNETONKA. MN
2
(c)
Aggregate contributions
WHEELOCK WHITNEY
601 CARLSON PKWY, # 8 0 0
MINNETONKA, MN
(a)
No.
3
$
(b)
Name, address, and ZIP + 4
(c)
Aggregate contributions
WHEELOCK WHITNEY
$
55305
(c)
Aggregate contributions
601 CARLSON PKWY. # 8 0 0
$
(c)
Aggregate contributions
WHEELOCK WHITNEY
601 CARLSON PKWY, # 8 0 0
(a)
No.
6
50.
55305
MINNETONKA, MN
$
83.
1X 1
1
1
[ ]
(d)
Type of contribution
Person
Payroll
Noncash
1 1
1
1
|X 1
(d)
Type of contribution
Person
Payroll
Noncash
1
1
1
1
|X 1
(d)
Type of contribution
Person
Payroll
Noncash
1 1
1
1
|_xJ
(Complete Part II rf there
is a noncash contnbution )
55305
{b)
Name, address, and ZIP + 4
(c)
Aggregate contributions
WHEELOCK WHITNEY
601 CARLSON PKWY, # 8 0 0
MINNETONKA. MN
Person
Payroll
Noncash
(Complete Part II rf there
is a noncash contnbution )
(b)
Name, address, and ZIP + 4
(a)
No.
5
167.
WHEELOCK WHITNEY
MINNETONKA. MN
(d)
Type of contribution
(Complete Part II if there
is a noncash contnbution )
(b)
Name, address, and ZIP + 4
(a)
No.
LXJ
1 1
[
]
(Complete Part II rf there
is a noncash contribution.)
601 CARLSON PKWY, # 8 0 0
4
26,679.
55305
MINNETONKA, MN
Person
Payroll
Noncash
(Complete Part II if there
is a noncash contribution.)
55305
(b)
Name, address, and ZIP + 4
(a)
No.
6.257.
(d)
Type of contribution
$
83.
(d)
Type of contribution
Person
Payroll
Noncash
1 1
1
1
|X 1
(Complete Part II rf there
is a noncash contnbution.)
55305
Schedule B (Form 990, 990-EZ, or 990-PF) (2005)
523452 02-01-08
14
Page
Schedule B (Form 990, BBQ-EZ, or 990-PF) (2005)
Contributors (See Specific Instructions)
(b)
Name, address, and ZIP + 4
(a)
No.
7
2 QtPartl
41-6022514
WHITNEY FOUNDATION
Part I
2 °l
Employer identification number
Name of organization
(c)
Aggregate contributions
WHEELOCK WHITNEY
601 CARLSON PKWY,
MINNETONKA, MN
(a)
No.
#800
$
83.
(d)
Type of contribution
Person
Payroll
Noncash
1
1
I I
|X 1
(Complete Part II rf there
is a noncash contribution.)
55305
(c)
Aggregate contributions
(b)
Name, address, and ZIP + 4
(d)
Type of contribution
Person
Payroll
Noncash
$
C 1
[~1
[_ |
(Complete Part II rf there
is a noncash contribution )
(a)
No.
(c)
Aggregate contributions
(b)
Name, address, and ZIP + 4
(d)
Type of contribution
Person
Payroll
Noncash
$
1
I
|
1
I
|
(Complete Part II if there
is a noncash contribution.)
(a)
No.
(c)
Aggregate contributions
(b)
Name, address, and ZIP + 4
(d)
Type of contribution
Person
Payroll
Noncash
$
1
1
|
1
1
|
(Complete Part II if there
is a noncash contribution.)
(a)
No.
(c)
Aggregate contributions
(b)
Name, address, and ZIP + 4
(d)
Type of contribution
Person
Payroll
Noncash
$
1 1
1^1
| |
(Complete Part II if there
is a noncash contnbution )
(a)
No.
(c)
Aggregate contributions
(b)
Name, address, and ZIP + 4
$
(d)
Type of contribution
Person
Payroll
Noncash
1
1
l~~l
[ ]
(Complete Part II if there
is a noncash contnbution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2005)
523452 02-01-OB
15
Schedule B (Farm 9QO, S90-EZ, or 9BO-PF) (2005)
Page
Name of organization
4
1 of Part II
41-6022514
WHITNEY FOUNDATION
Part II
1 of
Employer identification number
Noncash Property (See Specific Instructions.)
(a)
No,
from
Parti
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
1,000
SHARES LIFETIME
(d)
Date received
FITNESS
3
$
(a)
No.
from
Parti
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
300
25,987.
04/13/05
(d)
Date received
SHARES LIFETIME FITNESS
4
$
(a)
No.
from
Parti
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
500
8,475.
05/19/05
(d)
Date received
SHARES LIFETIME FITNESS
5
$
(a)
No.
from
Parti
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
500
16,674.
07/11/05
(d)
Date received
SHARES LIFETIME FITNESS
6
$
(a)
No.
from
Parti
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
500
16,725.
08/26/05
(d)
Date received
SHARES LIFETIME FITNESS
7
$
(a)
No.
from
Parti
16,475.
(c)
FMV (or estimate)
(see instructions)
(b)
Description of noncash property given
09/30/05
(d)
Date received
$
Schedule B (Form 990. 990-EZ, or 990-PF) (2005)
523453 02-01-09
16
» J »£-j
WHITNEY FOUNDATION
FORM 8688
41-6022514
EXPLANATION FOR EXTENSION
STATEMENT
14
EXPLANATION
THE TAXPAYER IS MISSING INFORMATION NECESSARY TO FILE A COMPLETE AND
ACCURATE RETURN IN THE TIME PRESCRIBED BY LAW. THEREFORE, AN ADDITIONAL
EXTENSION OF TIME TO FILE IS RESPECTFULLY REQUESTED.
FORM 8688
EXPLANATION FOR EXTENSION
STATEMENT
15
EXPLANATION
THE TAXPAYER IS MISSING INFORMATION NECESSARY TO FILE A COMPLETE AND
ACCURATE RETURN IN THE TIME PRESCRIBED BY LAW. THEREFORE, AN ADDITIONAL
EXTENSION OF TIME TO FILE IS RESPECTFULLY REQUESTED.
39
STATEMENTS) 14, 15
CONTINUATION FOR 990-PF, PART IV
41-6022514
PAGE
1 OF 3
WHITNEY FOUNDATION
| Part IV . Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kmd(s) of property sold, e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.
1a
b
c
d
e
f
g
h
i
i
k
1
m
n
o
1,000 SH LIFETIME FITNESS
3 , 0 0 0 SH LIFETIME FITNESS
1,000 SH LIFETIME FITNESS
300 SH LIFETIME FITNESS
500 SH LIFETIME FITNESS
500 SH LIFETIME FITNESS
500 SH LIFETIME FITNESS
WMC HEDGE FUND - IHW
WMC HEDGE FUND - IHW
WMC HEDGE FUND - KKW
WMC HEDGE FUND - KKW
WMC INTERNATIONAL FUND - IHW
WMC INTERNATIONAL FUND - IHW
WMC INTERNATIONAL FUND - KKW
WMC INTERNATIONAL FUND - KKW
(f) Depreciation allowed
(e) Gross sales price
(or allowable)
a
b
c
d
e
f
a
h
i
1
k
1
m
n
(b) How acquiredl(c, Date acquired
H
(d) Date sold
P - Purchase /mn
riau ur \
D - Donation
(mo- day> yr-> (mo., day, yr.)
D
0 6 / 2 9 / 9 201/04/05
D
0 6 / 2 9 / 9 201/03/05
D
0 6 / 2 9 / 9 2 04/13/05
D
0 6 / 2 9 / 9 20 5 / 2 4 / 0 5
D
0 6 / 2 9 / 9 2 07/11/05
D
0 6 / 2 9 / 9 208/31/05
D
0 6 / 2 9 / 9 20 9 / 3 0 / 0 5
(g) Cost or other basis
plus expense of sale
(h) Gam or (loss)
(e) plus (f) minus (g)
167.
500.
167.
50.
83.
83.
83.
25,144.
77,522.
25,987.
8,460.
16,674.
16,649.
16,399.
24.977.
77,022.
25,820.
8,410.
16,591.
16,566.
16.316.
3.139.
4.036.
1.212.
1.099.
22.
31.227.
8.
13.324.
0
Complete only for assets showing gam in column (h) and owned by the foundation on 12/31/69
(j) Adjusted basis
(k) Excess of col. (i)
(i)F.M.V. as of 12/31/69
as of 12/31/69
over col. (j), if any
(1) Losses (from col. (h))
Gams (excess of col. (h) gam over col. (k),
but not less than "-0-")
24,977.
77.022.
25.820.
8,410.
16,591.
16,566.
16,316.
3,139.
4.036.
1.212.
1.099.
22.
31.227.
8.
13.324.
a
b
c
d
e
f
g
h
i
i
k
1
m
n
0
„ ..
.
. . . ,. .
2 Capital gam net income or (net capital loss)
r If gam, also entenn Part 1, line 7 •>
( |f ^oss) enter -.g-' m Part 1 line 7 )
3 Net short-term capital gam or (loss) as defined in sections 1222(5) and (6):
If gam, also enter in Part 1, line 8, column (c).
If (loss), enter "-0-" in Part 1, line 8
2
1
t
J
523581
05-01-05
17
3
CONTINUATION FOR 990-PF, PART IV
41-6022514
PAGE
2 OF 3
WHITNEY FOUNDATION
[ Part IV {. Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kmd(s) of property sold, e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.
1a
b
c
d
e
f
a
h
i
i
k
I
m
n
o
WMC LARGE
WMC LARGE
WMC LARGE
WMC LARGE
WMC SMALL
WMC SMALL
WMC SMALL
WMC SMALL
WMC SMALL
WMC SMALL
WMC SMALL
WMC SMALL
WP/KOPP
WP/KOPP
WMC FIXED
CAP GROWTH FUND - IHW
CAP GROWTH FUND - IHW
CAP GROWTH FUND - KKW
CAP GROWTH FUND - KKW
& MIDCAP GROWTH FUND - IHW
& MIDCAP GROWTH FUND - IHW
& MIDCAP GROWTH FUND - KKW
& MIDCAP GROWTH FUND - KKW
& MIDCAP VALUE FUND - IHW
& MIDCAP VALUE FUND - IHW
& MIDCAP VALUE - KKW
& MIDCAP VALUE FUND - KKW
P
P
INCOME - IHW
(f) Depreciation allowed
(e) Gross sales price
(or allowable)
a
b
c
d
e
f
g
h
i
i
k
1
m
n
(b) How acquired j c \ rjaje acquired (d) Date sold
D-Don^n
(m°" dav- V-) (mo., day, yr.)
VARIOUS VARIOUS
VARIOUS VARIOUS
(h) Gam or (loss)
(e) plus (f) minus (g)
(g) Cost or other basis
plus expense of sale
<63.>
<5,032.>
<38.>
<1,243.>
554.
3,315.
558.
21.744.
11.467.
2,866.
3,362.
12,027.
1.045.
2,206.
<9,561.>
31.305.
11.589.
<122 .>
<47.>
0
Complete only for assets showing gain m column (h) and owned by the foundation on 12/31/69
(j) Adjusted basis
(k) Excess of col. (i)
(i)F.M.V.asof12/31/69
as of 12/31/69
over col. (j), if any
(1) Losses (from col. (h))
Gams (excess of col. (h) gam over col. (k),
but not less than "-0-")
a
b
c
d
e
f
g
h
i
i
k
1
m
n
<63.>
<5,032.>
<38.>
<1,243.>
0
<47.>
2 Capital gam net income or (net capital loss)
554.
3,315.
558.
2,866.
3,362.
12.027.
1.045.
2.206.
<9.561.>
<122 .>
{ |f ^o'ssf enter" '-D-^m Part I "line 7 )
3 Net short-term capital gam or (loss) as defined m sections 1222(5) and (6):
If gam, also enter in Part 1, line 8, column (c).
If (loss), enter '-0-' in Part 1, line 8
2
"1
t
J
5235B1
05-01-05
18
3
CONTINUATION FOR 990-PF, PART IV
41-6022514
PAGE
3 OF 3
WHITNEY FOUNDATION
| Part IV . Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kmd(s) of property sold, e.g., real estate,
'
2-story brick warehouse; or common stock, 200 shs. MLC Co.
1a WMC FIXED INCOME b
c
d
e
f
(b
p^0pWurchqaUseed ^ Date ac(luired
(d) Date sold
KKW
Q
h
i
1
k
1
m
n
0
(e) Gross sales price
(f) Depreciation allowed
(or allowable)
(g) Cost or other basis
plus expense of sale
(h) Gam or (loss)
(e) plus (f) minus (g)
<15 .
a
b
c
d
e
f
g
h
i
i
k
1
m
n
0
Complete only for assets showing gam in column (h) and owned by the foundation on 12/31/69
(j) Adjusted basis
(k) Excess of col. (i)
(i)F.M.V. as of 12/31/69
as of 12/31/69
over col. (j), if any
(I) Losses (from col. (h))
Gains (excess of col. (h) gam over col. (k),
but not less than '-0-')
<15 .
a
b
c
d
e
f
g
h
i
I
k
1
m
n
0
„ ..
.
, .
. ,, .
2 Capital gam net income or (net capital loss)
r If gam, also enter in Part 1, line 7 i
( „ fios^ enter ..0.. ,n Part' ,_ hne 7 }
3 Net short-term capital gam or (loss) as defined in sections 1222(5) and (6):
If gam, also enter in Part 1, line 8, column (c).
If (loss), enter '-0-' m Part 1, line 8
"1
t
J
523591
05-01-05
19
249,581.
2
3
N/A
WHITNEY FOUNDATION
FORM 990-PF
41-6022514
GAIN OR (LOSS) FROM SALE OF ASSETS
STATEMENT
1
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
1,000 SH LIFETIME FITNESS
DONATED
06/29/92
01/04/05
(B)
GROSS
SALES PRICE
(C)
VALUE AT
TIME OF ACQ.
25,144.
(D)
EXPENSE OF
SALE
25,190.
(E)
(F)
DEPREC.
GAIN OR LOSS
<46.>
0.
0.
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
3,000 SH LIFETIME FITNESS
DONATED
06/29/92
01/03/05
(B)
GROSS
SALES PRICE
(C)
VALUE AT
TIME OF ACQ.
77,522.
(D)
EXPENSE OF
SALE
75,570.
(E)
(F)
DEPREC.
GAIN OR LOSS
1,952.
0.
0.
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
1,000 SH LIFETIME FITNESS
DONATED
06/29/92
04/13/05
(B)
GROSS
SALES PRICE
25,987.
(C)
VALUE AT
TIME OF ACQ.
(D)
EXPENSE OF
SALE
25,987.
0.
20
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
0.
STATEMENT(S) 1
WHITNEY FOUNDATION
41-6022514
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
300 SH LIFETIME FITNESS
DONATED
06/29/92
05/24/05
GROSS
SALES PRICE
8,460.
(C)
VALUE AT
TIME OF ACQ.
(D)
EXPENSE OF
SALE
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
8,475.
0.
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
500 SH LIFETIME FITNESS
DONATED
06/29/92
07/11/05
(B)
GROSS
SALES PRICE
16,674.
(C)
VALUE AT
TIME OF ACQ.
(D)
EXPENSE OF
SALE
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
16,674.
0.
0.
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
500 SH LIFETIME FITNESS
DONATED
06/29/92
08/31/05
(B)
GROSS
SALES PRICE
16,649.
(C)
VALUE AT
TIME OF ACQ.
(D)
EXPENSE OF
SALE
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
16,725.
<76.:
0.
(A)
DESCRIPTION OF PROPERTY
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
500 SH LIFETIME FITNESS
DONATED
06/29/92
09/30/05
(B)
GROSS
SALES PRICE
16,399.
(C)
VALUE AT
TIME OF ACQ.
(D)
EXPENSE OF
SALE
0.
16,475.
21
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
<76.>
STATEMENT(S) 1
WHITNEY FOUNDATION
41-6022514
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC HEDGE FUND - IHW
(B)
GROSS
SALES PRICE
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
(E)
(F)
DEPREC .
GAIN OR LOSS
0.
0.
(A)
DESCRIPTION OF PROPERTY
0.
MANNER
ACQUIRED
3,139.
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC HEDGE FUND - IHW
(B)
GROSS
SALES PRICE
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
(E)
(F)
DEPREC .
GAIN OR LOSS
0.
0.
(A)
DESCRIPTION OF PROPERTY
4,036.
0.
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC HEDGE FUND - KKW
(B)
GROSS
SALES PRICE
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
(E)
(F)
DEPREC .
GAIN OR LOSS
0.
0.
(A)
DESCRIPTION OF PROPERTY
1,212.
0.
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC HEDGE FUND - KKW
(B)
GROSS
SALES PRICE
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
0.
0.
22
(E)
(F)
DEPREC .
GAIN OR LOSS
0.
1,099.
STATEMENT(S) 1
WHITNEY FOUNDATION
41-6022514
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
GAIN OR LOSS
0.
(F)
DEPREC.
GAIN OR LOSS
31,227.
0.
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC INTERNATIONAL FUND - KKW
(D)
EXPENSE OF
SALE
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
0.
8.
0.
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC INTERNATIONAL FUND - KKW
(C)
COST OR
OTHER BASIS
DATE SOLD
(E)
MANNER
ACQUIRED
(C)
COST OR
OTHER BASIS
22.
DATE
ACQUIRED
0.
0.
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
DEPREC.
PURCHASED
WMC INTERNATIONAL FUND - IHW
(B)
GROSS
SALES PRICE
(F)
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
(E)
0.
0.
0.
DATE SOLD
PURCHASED
WMC INTERNATIONAL FUND - IHW
(B)
GROSS
SALES PRICE
DATE
ACQUIRED
(D)
EXPENSE OF
SALE
0.
0.
23
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
13,324.
STATEMENT(S) 1
41-6022514
WHITNEY FOUNDATION
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
DATE SOLD
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
<5,032.>
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC LARGE CAP GROWTH FUND - KKW
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
<63.>
DATE
ACQUIRED
0.
0.
0.
0.
0.
(E)
(F)
DEPREC.
GAIN OR LOSS
-
0.
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
<38.>
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC LARGE CAP GROWTH FUND - KKW
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
GAIN OR LOSS
0.
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
(B)
GROSS
SALES PRICE
DEPREC.
PURCHASED
WMC LARGE CAP GROWTH FUND - IHW
(B)
GROSS
SALES PRICE
(F)
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
(E)
0.
0.
0.
DATE SOLD
PURCHASED
WMC LARGE CAP GROWTH FUND - IHW
(B)
GROSS
SALES PRICE
DATE
ACQUIRED
0.
0.
24
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
<1,243.>
STATEMENT(S) 1
WHITNEY FOUNDATION
41-6022514
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
WMC SMALL & MIDCAP GROWTH FUND - IHW
(B)
GROSS
SALES PRICE
0.
0.
0.
0.
GAIN OR LOSS
(D)
EXPENSE OF
SALE
(F)
DEPREC.
GAIN OR LOSS
3,315.
0.
DATE
ACQUIRED
DATE SOLD
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
0.
558.
0.
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC SMALL & MIDCAP GROWTH FUND - KKW
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
DATE SOLD
PURCHASED
WMC SMALL & MIDCAP GROWTH FUND - KKW
0.
DATE
ACQUIRED
(E)
MANNER
ACQUIRED
(C)
COST OR
OTHER BASIS
554.
0.
0.
(A)
DESCRIPTION OF PROPERTY
0.
DEPREC.
PURCHASED
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
(B)
GROSS
SALES PRICE
(F)
MANNER
ACQUIRED
WMC SMALL & MIDCAP GROWTH FUND - IHW
(B)
GROSS
SALES PRICE
(E)
0.
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
DATE SOLD
PURCHASED
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
DATE
ACQUIRED
0.
0.
25
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
2,866.
STATEMENTS) 1
WHITNEY FOUNDATION
41-6022514
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
0.
0.
(D)
EXPENSE OF
SALE
GAIN OR LOSS
DATE
ACQUIRED
DATE SOLD
(E)
(F)
DEPREC.
GAIN OR LOSS
12,027.
0.
MANNER
ACQUIRED
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC SMALL & MIDCAP VALUE - KKW
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
3,362.
0.
0.
0.
(A)
DESCRIPTION OF PROPERTY
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
0.
0.
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
1,045.
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC SMALL & MIDCAP VALUE FUND - KKW
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
DEPREC.
PURCHASED
(C)
COST OR
OTHER BASIS
(B)
GROSS
SALES PRICE
(F)
MANNER
ACQUIRED
WMC SMALL & MIDCAP VALUE FUND - IHW
(B)
GROSS
SALES PRICE
(E)
0.
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
DATE SOLD
PURCHASED
WMC SMALL & MIDCAP VALUE FUND - IHW
(B)
GROSS
SALES PRICE
DATE
ACQUIRED
0.
0.
26
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
2,206.
STATEMENT(S) 1
WHITNEY FOUNDATION
41-6022514
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
WP/KOPP
PURCHASED
(B)
GROSS
SALES PRICE
(C)
VALUE AT
TIME OF ACQ.
21,744.
(D)
EXPENSE OF
SALE
WP/KOPP
(C)
VALUE AT
TIME OF ACQ.
11,467.
(F)
DEPREC.
GAIN OR LOSS
0.
DATE SOLD
PURCHASED
VARIOUS
VARIOUS
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
0.
WMC FIXED INCOME - IHW
PURCHASED
(D)
EXPENSE OF
SALE
(D)
EXPENSE OF
SALE
(C)
COST OR
OTHER BASIS
0.
(F)
DEPREC.
GAIN OR LOSS
0.
<47.>
DATE
ACQUIRED
DATE SOLD
PURCHASED
WMC FIXED INCOME - KKW
(B)
GROSS
SALES PRICE
DATE SOLD
(E)
MANNER
ACQUIRED
(A)
DESCRIPTION OF PROPERTY
<122.>
DATE
ACQUIRED
0.
0.
<9,561.>
DATE
ACQUIRED
MANNER
ACQUIRED
0.
VARIOUS
MANNER
ACQUIRED
(D)
EXPENSE OF
SALE
11,589.
(C)
COST OR
OTHER BASIS
VARIOUS
(E)
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
DATE SOLD
0.
31,305.
(A)
DESCRIPTION OF PROPERTY
(B)
GROSS
SALES PRICE
DATE
ACQUIRED
0.
0.
(E)
(F)
DEPREC.
GAIN OR LOSS
0.
<15.>
0.
CAPITAL GAINS DIVIDENDS FROM PART IV
65,618.
TOTAL TO FORM 990-PF, PART I, LINE 6A
27
STATEMENT(S) 1
41-6022514
WHITNEY FOUNDATION
FORM '990-PF
DIVIDENDS AND INTEREST FROM SECURITIES
SOURCE
GROSS AMOUNT
STATEMENT
CAPITAL GAINS
DIVIDENDS
2
COLUMN (A)
AMOUNT
10,590.
12,329.
3,941.
16,950.
6,472.
3,712.
1,320.
2,933.
1,080.
0.
0.
0.
0.
0.
0.
0.
0.
0.
10,590.
12,329.
3,941.
16,950.
6,472.
3,712.
1,320.
2,933.
1,080.
229.
0.
229.
142.
0.
142.
1,842.
0.
1,842.
WMC SMALL & MID CAP VALUE FUND KKW
WP/KOPP
776.
11.
0.
0.
776.
11.
TOTAL TO FM 990-PF, PART I , LN 4
62,327.
0.
62,327.
MORGAN STANLEY
WMC FIXED INCOME - IHW
WMC FIXED INCOME - KKW
WMC HEDGE FUND - IHW
WMC HEDGE FUND - KKW
WMC INTERNATIONAL FUND - IHW
WMC INTERNATIONAL FUND - KKW
WMC LARGE CAP GROWTH FUND - IHW
WMC LARGE CAP GROWTH FUND - KKW
WMC SMALL & MID CAP GROWTH FUND
- IHW
WMC SMALL & MID CAP GROWTH FUND
- KKW
WMC SMALL & MID CAP VALUE FUND IHW
FORM 990-PF
STATEMENT
OTHER INCOME
DESCRIPTION
(A)
REVENUE
PER BOOKS
(B)
NET INVESTMENT INCOME
(C)
ADJUSTED
NET INCOME
WMC HEDGE FUND, LLP - IHW
WMC HEDGE FUND, LLP - KKW
<10, 270. >
<3, 923. >
<12,154,» ^
<4,644,» ^
TOTAL TO FORM 990-PF, PART I, LINE 11
<14, 193. >
<16,798,
28
3
i^
STATEMENT(S) 2, 3
41-6022514
WHITNEY FOUNDATION
FORM 9'90-PF
ACCOUNTING FEES
(A)
EXPENSES
PER BOOKS
DESCRIPTION
STATEMENT
(B)
NET INVESTMENT INCOME
(C)
ADJUSTED
NET INCOME
4
(D)
CHARITABLE
PURPOSES
VIRCHOW, KRAUSE & COMPANY
LLP
2,100.
0.
2,100.
TO FORM 990-PF, PG 1 , LN 16B
2,100.
0.
2,100.
FORM 990-PF
OTHER PROFESSIONAL FEES
DESCRIPTION
OTHER PROFESSIONAL FEES
WP/KOPP INVESTMENT FEES
WMC INTERNATIONAL FUND KKW
(A)
EXPENSES
PER BOOKS
(B)
NET INVESTMENT INCOME
STATEMENT
(C)
ADJUSTED
NET INCOME
5
(D)
CHARITABLE
PURPOSES
3,891.
236.
0.
236.
3,891.
0.
178.
178.
0.
480.
480.
0.
231.
231.
0.
625.
625.
0.
142.
142.
0.
337.
1,956.
750.
337.
1,956.
750.
0.
0.
0.
120.
120.
0.
78.
1,504.
476.
78.
1,504.
476.
0.
0.
0.
11,004.
7,113.
3,891.
WMC INTERNATIONAL FUND IHW
WMC LARGE CAP GROWTH FUND
- KKW
WMC LARGE CAP GROWTH FUND
- IHW
WMC SMALL & MID CAP VALUE
FUND - KKW
WMC SMALL & MID CAP VALUE
FUND - IHW
WMC HEDGE FUND - IHW
WMC HEDGE FUND - KKW
WMC SMALL & MID CAP GROWTH
FUND - IHW
WMC SMALL & MID CAP GROWTH
FUND - KKW
WMC FIXED INCOME - IHW
WMC FIXED INCOME - KKW
TO FORM 990-PF, PG 1 , LN 16C
29
STATEMENT(S) 4, 5
WHITNEY FOUNDATION
41-6022514
FORM 990-PF
TAXES
(A)
DESCRIPTION
EXPENSES
PER BOOKS
STATEMENT
(B)
NET INVESTMENT INCOME
(C)
ADJUSTED
NET INCOME
(D)
CHARITABLE
PURPOSES
STATE ANNUAL REGISTRATION
25.
515.
0.
515.
25.
0.
8,210.
2,678.
0.
0.
0.
0.
FEE
FOREIGN TAX WITHHELD
FEDERAL ESTIMATE PAYMENTS
- CURRENT YEAR
FEDERAL TAX PRIOR YEAR
515
TO FORM 990-PF, PG 1, LN 18
11,428.
FORM 990-PF
OTHER EXPENSES
DESCRIPTION
(A)
EXPENSES
PER BOOKS
25.
STATEMENT
(B)
NET INVESTMENT INCOME
(C)
ADJUSTED
NET INCOME
(D)
CHARITABLE
PURPOSES
MN COUNCIL ON FOUNDATION
DUES
MISCELLANEOUS EXPENSES
2,175.
530.
0.
130.
2,175.
400.
TO FORM 990-PF, PG 1, LN 23
2,705.
130.
2,575.
FORM 990-PF
STATEMENT
OTHER INVESTMENTS
BOOK VALUE
DESCRIPTION
KOPP INV
WMC INTERNATIONAL FUND - KKW
WMC INTERNATIONAL FUND - IHW
WMC LARGE CAP GROWTH FUND - IHW
WMC LARGE CAP GROWTH FUND - KKW
WMC SMALL & MID CAP VALUE FUND - IHW
WMC SMALL & MID CAP VALUE FUND - KKW
WMC HEDGE FUND - IHW
WMC HEDGE FUND - KKW
WMC SMALL CAP GROWTH FUND - IHW
WMC SMALL CAP GROWTH FUND - KKW
LIFETIME FITNESS
WMC FIXED INCOME - IHW
WMC FIXED INCOME - KKW
TOTAL TO FORM 990-PF, PART II, LINE 13
30
8
FAIR MARKET
VALUE
0.
63,551.
178,510.
162,673.
63,454.
98,692.
37,616.
169,731.
70,566.
46,040.
27,476.
0.
504,434.
167,910.
0.
73,324.
206,291.
222,686.
81,938.
103,627.
43,654.
182,758.
75,987.
53,981.
33,488.
0.
503,210.
167,475.
1,590,653.
1,748,419.
STATEMENT(S) 6, 7, 8
WHITNEY FOUNDATION
FORM 9.90-PF
41-6022514
PART VIII - LIST OF OFFICERS, DIRECTORS
TRUSTEES AND FOUNDATION MANAGERS
NAME AND ADDRESS
TITLE AND
AVRG HRS/WK
STATEMENT
9
EMPLOYEE
BEN PLAN EXPENSE
CONTRIB ACCOUNT
COMPENSATION
WHEELOCK WHITNEY
601 CARLSON PKWY, SUITE 800
MINNETONKA, MN 55305
PRESIDENT
0.00
0.
0.
0.
MARY WHITNEY
821 MARQUETTE, SUITE 1900
MINNEAPOLIS, MN 55402
DIRECTOR
0.00
0.
0.
0.
JOSEPH WHITNEY
601 CARLSON PKWY, SUITE 800
MINNETONKA, MN 55305
SECRETARY/TREASURER
0.00
0.
0.
0.
BENSON WHITNEY
821 MARQUETTE, SUITE 1900
MINNEAPOLIS, MN 55402
DIRECTOR
0.00
0.
0.
0.
WHEELOCK WHITNEY III
601 CARLSON PKWY, SUITE 800
MINNETONKA, MN 55305
VICE-PRESIDENT
0.00
0.
0.
0.
PENNELL WHITNEY
601 CARLSON PKWY, SUITE 800
MINNETONKA, MN 55305
DIRECTOR
0.00
0.
0.
0.
0.
0.
0.
TOTALS INCLUDED ON 990-PF, PAGE 6, PART VIII
31
STATEMENT(S) 9
Form
2220
Underpayment of Estimated Tax by Corporations
OMB No 1545-0142
See separate instructions.
>• Attach to the corporation's tax return.
2005
Department of the Treasury
Internal Revenue Service
FORM 990-PF
Employer identification number
41-6022514
Note: Generally, the corporation is not required to file Form 2220. (see Part II below for exceptions) because the IRS will figure any penalty owed and bill the
corporation. However, the corporation may still use Form 2220 to figure the penalty. If so, enter the amount from page 2, line 34 on the estimated tax
penalty line of the corporation's income tax return, but do not attach Form 2220.
Name
WHITNEY FOUNDATION
I Part I | Required Annual Payment
5.550,
1 Total tax (see instructions)
2a
2 a Personal holding company tax (Schedule PH (Form 1120), line 26) included on line 1
b Look-back interest included on line 1 under section 460(b)(2) for completed long-term
2b
contracts or of section 167(g) for depreciation under the income forecast method
2c
c Credit for Federal tax paid on fuels (see instructions)
2d
d Total. Add lines 2a through 2c
3
Subtract line 2d from line 1. If the result is less than $500, do not complete or file this form. The corporation
5.550.
does not owe the penalty
4
Enter the tax shown on the corporation's 2004 income tax return (see instructions). Caution: If the tax is zero
8.930.
or the tax year was for less than 12 months, skip this line and enter the amount from line 3 on line 5
5
Required Annual Payment Enter the smaller of line 3 or line 4. If the corporation is required to skip line 4,
5.550.
enter the amount from line 3
Part II | Reasons for Filing - Check the boxes below that apply. If any boxes are checked, the corporation must file Form 2220
even if it does not owe a penalty (see instructions).
The corporation is using the adjusted seasonal installment method.
The corporation is using the annuahzed income installment method.
The corporation is a "large corporation' figuring its first required installment based on the prior year's tax
Part III I Figuring the Underpayment
(b)
(a)
9
Installment due dates. Enter in columns (a) through
(d) the 1 5th day of the 4th (Form 990-PF filers:
Use 5th month), 6th, 9th, and 12th months of the
corporation's tax year
9
05/15/05
(c)
06/15/05
(d)
09/15/05
12/15/05
10 Required installments. If the box on line 6 and/or line 7
above is checked, enter the amounts from Schedule A, line
38. If the box on line 8 (but not 6 or 7) is checked, see
instructions for the amounts to enter. If none of these boxes
are checked, enter 25% of line 5 above in each column
10
1,388.
1.387.
1,388.
1.387.
11
3.250.
3.304.
1,654.
2.
1.862.
5.166.
3,779.
5,433.
4.045.
4.047.
5.166.
5,433.
4,047.
0.
0.
3,779.
4.045.
1 1 Estimated tax paid or credited for each period (see
instructions). For column (a) only, enter the amount
from line 11 online 15
Complete lines 12 through 18 of one column before
going to the next column.
12 Enter amount, if any, from line 18 of the preceding column
13 Add lines 11 and 12
14 Add amounts on lines 16 and 17 of the preceding column
15 Subtract line 14 from line 13. If zero or less, enter -016
If the amount on line 15 is zero, subtract line 13 from line
17
Underpayment. If line 15 is less than or equal to line 10,
14. Otherwise, enter -0-
12
13
14
15
3.250.
16
subtract line 15 from line 10. Then go to line 12 of the next
column. Otherwise, go to line 18
17
18 Overpayment. If line 10 is less than line 15, subtract line 10
from line 15. Then ao to line 12 of the next column
18
1.862.
Go to Part IV on page 2 to figure the penalty. Do not go to Part IV if there are no entries on line 17 • no penalty is owed.
JWA
Form 2220 (2005)
For Paperwork Reduction Act Notice, see separate instructions.
512801
01-18-08
32
FORM 990-PF
Form 2220 (2005)
41-6022514
WHITNEY FOUNDATION
Paoe 2
Part IV | Figuring the Penalty
(c)
(b)
(a)
(d)
19 Enter the date of payment or the 15th day of the 3rd month
after the close of the tax year, whichever is earlier (see
instructions). (Form 990-PF and Form 990-T filers: Use 5th
month instead of 3rd month.)
19
20
Number of days from due date of installment on line 8 to the
20
date shown on line 18
2 1 Number of days on line 20 after 4/15/2005 and before 10/1/2005
21
22
22 S
Underpayment on line 17 x Number of days on line 21 x 6%
S
$
$
$
$
$
$
$
$
S
S
$
$
S
S
365
23
Number of days on line 20 after 8/30/2005 and before 4/1/2006
23
24
Underpayment on line 17 x Number of days on line 23 x 7%
24 $
365
25
Number of days on line 20 after 3/3 1/2006 and before 7/1/2006
25
26
Underpayment on line 17 x Number of days on line 25 X •%
26 $
365
27
Number of days on line 20 after 6/30/2008 and before 10/1/2006
27
28
Underpayment on line 17 x Number of days on line 27 x "%
28 $
365
29
Number of days on line 20 after 8/30/2008 and before 1/1/2007
29
30
Underpayment on line 17 x Number of days on line 28 x *%
30 S
365
3 1 Number of days on line 20 after 12/31/2006 and before 2/16/2007
31
32
32 $
S
S
S
33 $
$
S
S
Underpayment on line 17 x Number of days on line 31 x "%
305
33
ASd lines 22, 24, 26, 28, 30, and 32
34 Penalty. Add columns (a) through (d), of line 33. Enter the tc tal here and on Form 1 120; line 33,
Form 1120-A, line 29; or the comparable line for other income tax returns
34 $
* Fftr itnHarngumontc naiH aftar Mgrfh Q1 ,OnAK' Fnr Imnc 9fi 9H on anH T9, nco tho nonaltv intprpct rato fnr oarh ralpnriar miartor \whirh thp IRS
will determine during the first month in the preceding quarter, these rates are published quarterly in an IRS News Release and in a revenue ruling in
the Internal Revenue Bulletin. To obtain this information on the Internet, access the IRS website at www.irs.gov. You can also call 1-800-829-4933
to get interest rate information.
0.
Form 2220 (2005)
JWA
512802
01-16-06
33
Charity
1000 Friends Of Minnesota/WW Consent (218)
AAO - Aquatennial Ambassad/WWPersConsent (104)
Abbott NW Hospital Fdn/KKW (324)
Academy of Holy Angels (400)
Adoption Option, The (394)
African American Lit (101)
Afton Press/WW Consent (158)
America's Second Harvest (393)
American Legion/WWPersConsent (9)
American Red Cross (385)
American Refugee Committee/Fdn Consent (199)
American Refugee Committee/KKW (410)
American Refugee Conunittee/Persph Fund (109)
Amicus, Inc./Fdn Consent (76)
Animal Humane Horse Shw/WW Consent (151)
Animal Humane Society/Koch's Event (172)
Archdiocesan AIDS Ministry/Fdn Consent (307)
Art In Bloom/WW Consent (170)
Bailey House/Fdn Consent (274)
Bakken Library And Museum/WW Consent (132)
Basilica of St Mary/WWPers Pledge (315)
Bolder Options (238)
Boys & Girls Clubs of the/Twin Cities (83)
Breast Cancer 3-Day (135)
Bridge for Runaway Youth/Fdn Consent (330)
CARE Fdn No Show Ball/WW Consent (198)
Carmelite Monastery (118)
Caron Foundation (392)
Cato Institute/WW Consent (134)
Caux Round Table/WWPers Pledge (173)
Center for Civic Participa/WWPers Pledge (156) Center of the American Exp/WW Consent (195)
Changemakers/WW Consent (229)
Charities Review Council/Fdn Consent (314)
Children's Fdn Hospital/Fdn Consent (30)
Children's HeartLink (190)
Children's Home Society/Fdn Consent (7)
Children's Home Society/WW Pers Other (207)
Children's Hospital Assoc (24)
Children's Law Ctr of MN (407)
Children's Music and Arts (105)
Children's Theatre CoTFdn Consent (33)
Children's Theatre Co./WWPers Pledge (216)
Christina-Ina-Inka Lake As (347)
Chrysalis/Fdn Consent (331)
Church of the Ascension (100)
Citizens League/Fdn Consent (234)
City Of Independence (175)
City, Inc., The, Youth Ctr/Fdn Consent (38)
Community Mediation/Fdn Consent (44)
Community Mediation/KKW (320)
$
Donation
500.00
250.00
500.00
1,000.00
500.00
1,500.00
1,250.00
250.00
25.00
550.00
1,000.00
1,500.00
100,000.00
500.00
250.00
750.00
1,000.00
100.00
1,000.00
500.00
4,000.00
500.00
1,000.00
100.00
500.00
500.00
200.00
3,000.00
1,000.00
2,500.00
2,500.00
1,500.00
500.00
500.00
500.00
1,000.00
2,000.00
500.00
200.00
250.00
360.00
500.00
15,000.00
500.00
500.00
5,000.00
1,000.00
100.00
500.00
500.00
3,000.00
Coots Unlimited (141)
Council on Crime and Justi (370)
Courage Center/Fdn Consent (332)
Crisis Connection/Fdn Consent (130)
Crossroads Animal Shelter/WW Consent (121)
Crossroads Res Care/WW Consent (205)
District 202 (204)
Dunwoody College/Fdn Consent (294)
Dynamy/Fdn Consent (152)
Emergency Foodshelf Netwrk (303)
Employment Action Ctr/Div Resource (397)
Episcopal Group Homes/WW Consent (183)
Esalen Institute/WW Consent (71)
Evan B. Adoption (149)
Evans Scholars Foundation/WW Consent (28)
Excelsior Lake Mtka Frwrks/WW Consent (193)
Fairview Fdn St Mary's CD/Fdn Consent (129)
Fairway Fdn Golf for Kids/WW Consent (301)
Family & Children's Servic/Fdn Consent (333)
Freedom Institute/WW Consent (233)
Freshwater Society/Fdn Consent (112)
Friends Of Loring Park,The/WW Consent (11)
Fund for Legal Aid (402)
Grace House AIDS Care Ptnr/Fdn Consent (188)
Grayson-Jockey Research/WW Consent (102)
Grayson-Jockey ResearchAVWPersConsent (212)
Greater Mpls Council Churc/Fdn Consent (271)
Greater Mpls Crisis Nurser/Fdn Consent (334)
Greater Twin Cities United/WW Consent (99)
Groves Learning Center/Fdn Consent (297)
Guthrie Theater/Fdn Consent (376)
Guthrie Theater Fdn/River Campgn (203)
H.E.A.R.T./Fdn Consent (3)
Hammer (349)
Headwaters Fund/Fdn Consent (113)
High Watch Farm (32)
Hmong American Mutual/Assistance (178)
Hospice Foundation of/Louisville (66)
House of Charity/Fdn Consent (39)
Illusion Theatre/WW Consent (127)
Initiative Foundation/WW Consent (295)
Inner City Tennis/Fdn Consent (340)
Inner City Tennis/WW Pers Other (444)
Interfaith Outreach/WW Consent (137)
Interfaith Outreach/WWPers Other (318)
James Bell Library/WW Consent (224)
James J. Hill Library (389)
James P. Shannon Mpls Fdn/WWPers Pledge (171)
Jazz is Now (120)
Jockey Club Fdn/WW Consent (140)
Johnson Institute Fdn.AVW Consent (13)
Jones-Harrison Residence (56)
100.00
2,500.00
500.00
500.00
200.00
1,000.00
500.00
500.00
500.00
500.00
500.00
250.00
500.00
250.00
250.00
100.00
1,000.00
450.00
500.00
23,500.00
500.00
200.00
300.00
500.00
1,750.00
100.00
500.00
500.00
30,000.00
500.00
3,000.00
10,000.00
1,500.00
500.00
500.00
200.00
1,000.00
200.00
500.00
500.00
500.00
6,000.00
4,000.00
1,750.00
500.00
180.00
4,925.00
1,000.00
1,000.00
750.00
1,065.00
100.00
: HIJunior Achievement/Fdn Consent (299)
La Crosse Cty Historical/Fdn Consent (115)
Liberty Hill Foundation (247)
Life Time Fitness Fdn (187)
Life's Missing Link (91)
Living Pulpit, The/WWPers Pledge (18)
Loft, The/WW Consent (15)
MacPhail Center for Arts/Fdn Consent (305)
March for Parks/WW Consent (235)
Marty Mann Halfway House (196)
Master's School/CITYterm (386)
Max Me Gee Fund, The/WW Consent (221)
MCTC Foundation/Mpls Comm Tec (211)
MEDA/Fdn Consent (43)
Mentoring Partnership Mn (296)
Mgmt Asst Prgm NonProf MAP/Fdn Consent (40)
Ministries Foundation Gala (23)
Minnesota Jaycees (166)
Minnetonka Choral Society/WW Consent (128)
Miracles of Microcredit Fu (371)
Mn AIDS Project/WW Consent (10)
MN AIDS Project (302)
Mn Childrens Museum (176)
MN Ctr Environmental Advoc/Fdn Consent (237)
Mn Ctr For Book Arts (162)
Mn DARE (262)
MN Fellowship Int'l FdnAVW Consent (54)
Mn Fellowshp Chrstn Athlet/WW Consent (4)
Mn Historical Society/Fdn Consent (116)
Mn International Center/WW Consent (21)
Mn Landscape Arboretum/Fdn Consent (29)
MN Military Apreciation/MMAF (288)
MN News Council (399)
Mn Opera (253)
MN Orchestra/Fdn Consent (377)
Mn Prayer Breakfast (8)
MN Private Colleges Fund/Fdn Consent (306)
Mn Public Radio/Fdn Consent (49)
MN Public RadioAVWPers Pledge (214)
MN Red Ribbon Ride (146)
Mn Zoo Foundation/Fdn Consent (52)
MOFAS/WW Pers Other (401)
MOFAS/WWPersConsent (14)
Mothers Against Drunk Driv/M A D D (220)
Mpls College of Art & Desi (90)
Mpls Institute Of Arts/Fdn Consent (45)
Mpls Public Library/Fdn Consent (236)
Mpls Public Library/FdnWW Pledge (264)
Mpls Urban League/Fdn Consent (256)
Mtka Center For The Arts/Fdn Consent (12)
Nafl Council on Alcohol/WW Consent (164)
National Center on Father (194)
500.00
1,000.00
1,500.00
1,000.00
1,000.00
1,000.00
155.00
1,400.00
200.00
500.00
100.00
500.00
5,000.00
2,000.00
500.00
500.00
500.00
100.00
100.00
1,000.00
3,000.00
40.00
1,000.00
500.00
250.00
500.00
5,000.00
1,000.00
1,000.00
1,000.00
1,000.00
10,000.00
500.00
500.00
3,300.00
500.00
1,500.00
485.05
10,000.00
100.00
2,500.00
250.00
5,035.00
250.00
250.00
3,500.00
500.00
10,000.00
500.00
500.00
1,000.00
100.00
£.»/•>»••
National Museum of Racing/WW Consent (50)
National Museum of Racing/WWPers Pledge (223)
Nature Conservancy/Fdn Consent (311)
New Day Shelter (68)
New Foundations (353)
One Percent Club, The (114)
Ordway Center/Fdn Consent (230)
Pacifica Foundation (369)
Page Education Foundation/Events (312)
Page Education Foundation/WW Consent (133)
Partners In Health (341)
Perspectives (395)
Phelps Association/WW Consent (27)
Phelps Association/WWPers Pledge (226)
Phillips Academy/WW Consent (95)
Pilgrim Center, The/WW Consent (47)
Planned Parenthood Mohawk (147)
Planned Parenthood of Mn/Fdn Consent (55)
Plymouth Church Neighborho (82)
Population Action/WW Consent (215)
Prison Fellowship (202)
Pro-Choice Resources/WW Consent (159)
Project for Pride in Livng/Fdn Consent (111)
Project for Pride in Lvng/WWPers Pledge (232)
Project Success/WW Consent (165)
Project Turnabout (348)
Rampant Lion Foundation/WWPersConsent (154)
Ramsey Cty Historical/Fdn Consent (61)
ReadNet Foundation, The (89)
Rebuild Resources/Fdn Consent (58)
Resource (192)
Retreat/FdnWW Pledge (84)
Retreat/WW Consent (344)
Retreat/WWPers Pledge (239)
Retreat, The/WW Pers Other (445)
Rochester Civic Theatre/WW Consent (131)
Sabathani Community Ctr (180)
Salvation Army/Hurricane (298)
Sandy Stephens, The/Scholarship (148)
Sarah Lawrence College/WWPers Pledge (309)
Science Museum Of Mn/Fdn Consent (65)
Seed Academy (179)
Senior Resources/Fdn Consent (64)
Smithsonian Institution (185)
So MN Reg Legal Svcs/SMRLS (408)
Sobriety High/WW Consent (86)
South Africa Partners (266)
Special Olympics MN (396)
St Alphonsus Catholic/Church (6)
St David's School (265)
St John the Divine/Episcopal (22)
St Paul Chamber Orch SPCO/Fdn Consent (62)
2,000.00
5,000.00
500.00
250.00
500.00
500.00
1,500.00
500.00
2,350.00
500.00
500.00
500.00
200.00
5,000.00
1,500.00
250.00
500.00
2,500.00
500.00
1,000.00
500.00
500.00
1,000.00
12,500.00
500.00
250.00
250.00
500.00
250.00
2,000.00
500.00
10,000.00
1,000.00
5,000.00
1,260.00
250.00
1,000.00
200.00
500.00
10,000.00
1,500.00
500.00
500.00
500.00
300.00
1,000.00
1,500.00
500.00
200.00
3,250.00
500.00
1,000.00
Hi-
Steams History Museum/Fdn Consent (279)
Step Up Program/WW Consent (222)
Sugarloaf Interpretive Ctr (125)
Summit Academy 01 C/Fdn Consent (67)
Susan G. Komen Breast Cane (339)
Thoroughbred RetirementAVWPersConsent (160)
Tipton Music MinistriesAVWPers Other (240)
Tipton Music MinistriesAVWPers Pledge (210)
Trust for Public Land, The/WWPers Other (350)
Twin Cities Public TWFdn Consent (69)
Twin Cities RISE! (184)
U of MN/Humphrey Inst (406)
U of MN/Law School (404)
U of MN/Sid Hartman (153)
U of MN/Tx for Troops (182)
U Of Mn Fdn Judd FllwshpAVWPersConsent (304)
U Of Mn Fdn Tom Swain/WWPers Pledge (284)
United Negro College Fund/Fdn Consent (73)
United Theological Seminar/WW Consent (17)
University of Notre Dame (403)
University of St Thomas (405)
Urban Ventures Leadership/WWPersPledge (72)
USGA (GolfyWW Consent (53)
Vail Place/Fdn Consent (74)
Voyageurs Nafl Park AssnJFdn Consent (77)
Voyageurs Nafl Park AssnTWW Consent (200)
Walker Art Center/Fdn Consent (227)
Walker Art Center/Fdn Pledge (319)
Walker Art Center/KKW (322)
Waseca M&StL Depot/Society (142)
Washburn Child Guidance/Fdn Consent (338)
Watch (260)
Wayside House FL/WW Consent (249)
Wayside House MN/Fdn Consent (313)
Wayzata Community Church/WW Consent (57)
Wayzata Community Church/WWPers Other (411)
Wayzata Historical Society/WW Consent (167)
Wayzata Volunteer Fire (36)
Western Henn Cty Pioneers/WWPers Other (317)
Whitney Foundation
Wilderness Inquiry (161)
Winston Salem Foundation (191)
WJFF Radio Catskill/KKW (343)
Wm Mitchell College Law (409)
Women Venture/Fdn Consent (108)
Women's Foundation Of Mn/Fdn Consent (79)
World Citizen, IncTWW Consent (16)
World Press Institute/WW Consent (136)
World Vision (398)
Wounded Warrior Project (177)
YAANW Yale Alumni NWAVWPersConsent (25)
Yale Alumni Fund/WW Consent (246)
1,000.00
1,000.00
200.00
2,000.00
100.00
500.00
2,000.00
2,500.00
500.00
500.00
1,000.00
100.00
200.00
6,622.50
200.00
5,000.00
500.00
500.00
500.00
300.00
500.00
25,000.00
200.00
500.00
500.00
150.00
3,000.00
10,000.00
750.00
250.00
500.00
250.00
200.00
1,000.00
16,620.00
8,600.00
250.00
25.00
20.00
4,500.00
1,000.00
500.00
500.00
100.00
1,000.00
500.00
500.00
500.00
500.00
350.00
100.00
1,000.00
Yale Class of '50/WW Consent (26)
YMCA/Fdn Consent (280)
YWCA/Fdn Consent (293)
Zuhrah Shrine Horse/Patrol (245)
Total
50.00
500.00
500.00
500.00
$ 546,767.55
47
Schedule K-1
(Form 1065)
20UO
ftrc*n*r,«
2005. or tax
Department of the Treasury
Internal Revenue Service
Partner's Share of Income, Deductions,
Credits, etc.
See separate instructions.
Part I *
Information About the Partnership
A Partnership's employer identification number
41-1963303
JWA For Privacy Act and Paperwork Reduction Act Notice, see Instructions for Form 1065.
Schedule K-1 (Form 1065) 2005
5112B1
oi-11-oe
47
* . 46
Schedule K-1
2005
(Form 1065)
For calendar year 2005, or tax
Department of the Treasury
Internal Revenue Service
year beginning
ending
Partner's Share of Income, Deductions,
Credits, etc.
JWA For Privacy Act and Paperwork Reduction Act Notice, see Instructions for Form 1065.
Schedule K-1 (Form 1065) 2005
5112B1
01-11-08
46
8886
Reportable Transaction Disclosure Statement
OMB Na 1545-1800
(Rev. December 2005)
K Attach to your tax return.
Department of the Treasury
Internal Revenue Service
*• See separate instructions.
Attachrnont
Sequence Na 1 37
Namsfs) shown on return ^/rhlr^Gl F~*'U*J OSffl!*'*'
WMC HEDGE FUND, LLP - $>C4tet>vW= k -1
Number, street, and room or suite no.
601 CARLSON PKWY, SUITE 800
City or town, state, and ZIP code
MINNETONKA, MN 55305
A
B
Identifyino number
Enter the form number of the tax return that this form is attached to
Enter the year of the tax return with which this form Is filed . . .
Check the box(es) that apply (see instructions).
FORM
2005
Q Initial year filer
| | Protective disclosure
1a Name of reportable transaction
K-1 :SELECTINVEST ARBITRAGE/RELATIVE VALUE SEE ATTACHED
1b Initial year participated In transaction
1c Material advisor or tax shelter registration number
(9 digits or 11 digits)
2
Identify the type of reportable transaction. Check all the box(es) that apply (see instructions),
a l~~l
Listed transaction
d I/I Loss
b d Confidential
e O
Significant book-tax difference
c CD Contractual protection
f
Brief asset holding period
LD
3
If the transaction Is a "listed transaction" or substantially similar to a listed transaction, identify the listed transaction (see
instructions) ^-
4
Enter the number of transactions reported on this form
5
If you invested in the transaction through another entity, such as a partnership, an S corporation, or a foreign
corporation, provide the information below for the entity.
a
b
c
d
6
Name
Type of entity
Form number of tax return filed .
Employer identification number (EIN)
Enter below, the name and address of each person to whom you paid a fee with regard to the transaction if that person
promoted, solicited, or recommended your participation in the transaction, or provided tax advice related to the transaction.
(Attach additional sheet, if necessary.)
a Name
Number, street, and room or suite no.
City or town, state, and ZIP code
b Name
Number, street, and room or suite no.
City or town, state, and ZIP code
For Paperwork Reduction Act Notice, see separate instructions.
Cat No. 34654G
Form 8886 (Rev. 12-2005)
Form BBSS (Rev. 12-2005)
7
Page 2
Facts. Describe the facts of the transaction that relate to the expected tax benefits, Including your participation
in the transaction. For listed transactions identified in item 2a, also provide the complete name, address, and
nature of involvement of all parties to the transaction (see instructions).
Expected tax benefits. Describe the expected tax benefits, including deductions, exclusions from gross income,
nonrecognition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of property, etc.
(see instructions for more details).
Estimated tax benefits. Provide a separate estimate of the amount of each of the expected tax benefits
described above for each affected tax year (including prior and future years).
Form 8886 (Rev. 12-2005)
Prtntad on recycled papar
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND LLP
* THE FUND WILL ATTACH A FORM 8886 WITH THE FOLLOWING RESPONSES TO ITS TAX RETURN FOR THE YEAR ENDED
DECEMBER 31, 2005. PLEASE SEE FORM 8886 AND THE FORM INSTRUCTIONS FOR FURTHER DETAILS ON WHEN YOU ARE
REQUIRED TO FILE FORM 8886 ANDJ5PECIFIC DETAILS ON HOW TO COMPLETE FORM 8886, IF NECESSARY.
INFORMATION FOR FORM 8886: REPORTABLE TRANSACTION DISCLOSURE STATEMENT
RECEIVED FROM INVESTMENTS IN UNDERLYING MANAGERS *
FOR THE TAX YEAR ENDED DECEMBER 31, 2005
LINE 1A: SECTION 165 LOSS
LINE1B: PROTECTIVE FILING
LINE 1C: N/A
LINE 2: CHECK BOX "D"
LINE 3: N/A
LINE 4: DETAILS AVAILABLE UPON REQUEST
LINE 5: BRENCOURT MULTI- STRATEGY MASTER LTD
EIN: 03-0453123
BRENCOURT DISTRESSED SECURITIES MASTER LTD
EIN: 32-0006283
LINE 6: N/A
LINE 7: TAXPAYER IS A PARTNER IN THE FUNDS LISTED IN LINE 5. (THE FUND").
THE FUND TRADES IN STOCKS AND SECURITIES FOR ITS OWN ACCOUNT. IN THE COURSE OF ITS BUSINESS
OF INVESTMENT TRADING, THE FUND HAS ENGAGED IN SEC. 988 FOREIGN CURRENCY TRANSACTIONS DURING
THE TAX YEAR. ALL TRADES, INCLUDING THOSE THAT HAVE TRIGGERED THE RECOGNITION OF FOREIGN CURRENCY
GAIN OR LOSS. HAVE BEEN ENTERED INTO SOLEY FOR ECONOMIC PROFIT. IN ACCORDANCE WITH
REG. §1.6011^(b)(5)(iii)(A), THE FUND HAS COMPUTED WHETHER THE $2 MILLION PARTNERSHIP THRESHOLD IS SATISF
BY TAKING INTO ACCOUNT ALL OF ITS FOREIGN CURRENCY LOSSES IN ACCORDANCE WfTH THE GENERAL
RECOGNITION PROVISIONS THAT APPLY TO DISPOSITION OF PROPERTY SUCH AS SEC. 1001,1092 ETC. BASIS
OF THE SECURITIES ARE DERIVED SOLELY FROM CASH PAID. GIVEN THE LACK OF SPECIFICITY IN THE REGULATIONS
FOR SEC. 988 LOSS ARISING OUT OF ACTIVITIES IN THE CASH ACCOUNTS THAT ARE DENOMINATED IN FOREIGN
FUNCTIONAL CURRENCIES, THE FUND IS UNCERTAIN AS TO WHETHER THESE TYPES OF SEC. 988 TRANSACTIONS
LINE 8: THE REALIZED LOSS ON SEC. 988 TRANSACTIONS IS IN CONNCET1ON WITH THE FUND'S REGULAR TRADING
ACTIVITIES AND, THEREFORE. NOT CARRIED OUT AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS. AS A RESULT,
THERE ARE NOT ANY EXPECTED TAX BENEFITS.
LINE 9: THE REALIZED LOSS ON SEC. 988 TRANSACTIONS IS DERIVED FROM THE FUND'S REGULAR TRADING ACTIVITIES
AND. THEREFORE, NOT INTENDED AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS. A PARTNER'S SHARE
OF THE SEC. 988 LOSS REFERRED TO ON LINE 8 ABOVE IS NETTED WITH THE OVERALL SEC 988 GAIN OR LOSS THAT
ARE REPORTED TO EACH PARTNER ON THEIR 2005 SCHEDULE K-1 WHICH IS AVAILABLE TO BE CLAIMED ON THEIR
2005 TAX RETURNS. IT IS NOT EXPECTED THAT THESE SEC.988 TRANSACTIONS WILL GENERATE ANY PRIOR
OR FUTURE TAX BENEFITS.
SELECT1NVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND LLP
* THE FUND WILL ATTACH A FORM 8886 WITH THE FOLLOWING RESPONSES TO FTS TAX RETURN FOR THE YEAR ENDED
DECEMBER 31, 2005. PLEASE SEE FORM 8886 AND THE FORM INSTRUCTIONS FOR FURTHER DETAILS ON WHEN YOU ARE
REQUIRED TO FILE FORM 8886 AND SPECIFIC DETAILS ON HOW TO COMPLETE FORM 8886. IF NECESSARY.
INFORMATION FOR FORM 8886: REPORTABLE TRANSACTION DISCLOSURE STATEMENT
RECEIVED FROM INVESTMENTS IN UNDERLYING MANAGERS *
FOR THE TAX YEAR ENDED DECEMBER 31,2005
UNE 1A: SECTION 1091 BASIS ADJUSTMENT
UNE1B: PROTECTIVE FILING
UNE 1C: N/A
LINE 2: CHECK BOX "D°
UNE 3: N/A
UNE 4: DETAILS AVAILABLE UPON REQUEST
LINE 5: BRENCOURT MULTI- STRATEGY MASTER LTD
EIN: 03-0453123
BRENCOURT DISTRESSED SECURITIES MASTER LTD
EIN: 32-0006283
LINE 6: N/A
LINE 7: TAXPAYER IS A PARTNER IN THE FUNDS LISTED IN LINE 5. (THE FUND").
THE FUND TRADES IN STOCKS AND SECURITIES FOR ITS OWN ACCOUNT. IN THE COURSE OF ITS BUSINESS
OF INVESTING AND TRADING, THE FUND MAY HAVE ENGAGED IN WASH SALE TRANSACTIONS DURING THE YEAR.
ALL TRADES, INCLUDING THOSE THAT MAY HAVE TRIGGERED WASH SALES, HAVE BEEN ENTERED INTO SOLELY
FOR ECONOMIC PROFIT. IN ACCORDANCE WITH REG. 1.6011^(b)(5)(fii)(A), THE FUND HAS COMPUTED WHETHER
THg S 2 MILLION PARTNFRRHIP THRFSHOI D is SATISFIED BY TAKING INTO ACCOUNT ALL OF ITS REALIZED
LOSSES DURINGJHE YEAR WJTHOUT ANY WASH SAIE LIMITATIONS {EITHER CUkkkN I YEAKT)H REVERSALS
FROM PRIOR YEAR). BY NQUAKING INTO ACCOUNT-AN¥-WASH^At=E-BASISADJUSIMENJS. THE FUND WILL
BE ABLE SATISFY THE "QUAyFYJNGJASJSlEXEMP-TJON .UNDER REV. PROC. 2004-66. GIVEN THE LACK OF
SPECIFICITY IN THE REGULATIONS FOR WASH SALE LIMITATIONS THE FUND IS UNCERTAIN AS TO WHETHER
THESE TYPES OF LOSS TRANSACTIONS DUE TO WASH SALE BASIS ADJUSTMENTS ARE REQUIRED TO BE
DISCLOSED AND THEREFORE IS MAKING THIS FILING SOLELY ON A PROTECTIVE BASIS.
LINES: THE REALIZED LOSS DUE TO WASH SALE BASIS ADJUSTMENT IS IN CONNECTION WITH THE FUND'S REGULAR
TRADING ACTIVITIES AND, THEREFORE, NOT CARRIED OUT AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS.
AS A RESULT, THERE ARE NOT ANY EXPECTED TAX BENEFITS.
LINE 9: THE REALIZED LOSS DUE TO WASH SALE BASIS ADJUSTMENTS IS DERIVED FROM THE FUND'S REGULAR
TRADING ACTIVITIES AND, THEREFORE, NOT INTENDED AS PART OF ANY PLAN TO ACHIEVE TAX BENEFITS.
A PARTNER'S SHARE OF THE LOSS REFERRED TO ON LINE 8 ABOVE IS NETTED WITH THE OVERALL GAIN OR
LOSS THAT ARE REPORTED TO EACH PARTNER ON THEIR 2005 SCHEDULE K-1 WHICH IS AVAILABLE TO BE
CLAIMED ON THEIR 2005 TAX RETURN. fT IS NOT EXPECTED THAT THESE TRANSACTIONS WILL GENERATE ANY
PRIOR OR FUTURE TAX BENEFITS.
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND LLP
* THE FUND WILL ATTACH A FORM 8886 WITH THE FOLLOWING RESPONSES TO ITS TAX RETURN FOR THE YEAR ENDED
DECEMBER 31.2005. PLEASE SEE FORM 8886 AND THE FORM INSTRUCTIONS FOR FURTHER DETAILS ON WHEN YOU ARE
REQUIRED TO FILE FORM 8886 AND SPECIFIC DETAILS ON HOW TO COMPLETE FORM 8886, IF NECESSARY.
INFORMATION FOR FORM 8886: REPORTABLE TRANSACTION DISCLOSURE STATEMENT
RECEIVED FROM INVESTMENTS IN UNDERLYING MANAGERS *
FOR THE TAX YEAR ENDED DECEMBER 31, 2005
LINE 1A: LOSSES FROM TRADING ACTIVITIES
UNE IB: 2005
LINE 1C: N/A
LINE 2: CHECK BOX "D"
LINE 3: N/A
UNE 4: UNCERTAIN
LINE 5: OZ MASTER FUND, LTD
EIN: 13-3982250
OZ EUROPE DOMESTIC PARTNERS. LP
EIN: 13-4112066
D.E. SHAW OCULUS PORTFOLIOS, L.LC.
EIN: 20-0805088
D.E. SHAW LAMINAR PORTFOLIOS, LLC.
EIN: 01-0577802
D.E. SHAW PLASMA PORTFOLIOS, L.LC.
EIN: 37-1445760
D.E. SHAW COMPOSITE PORTFOLIOS, L.LC.
EIN: 13-4152438
DRAKE LOW VOLATILITY FUND, LP.
EIN: 33-1092912
PERRY PARTNERS, L.P.
EIN: 13-3492525
LINE 6: N/A
LINE 7: TAXPAYER IS A PARTNER IN THE FUNDS LISTED IN LINE 5. (THE FUND").
THE FUND TRADES IN VARIOUS STOCKS, SECURITIES AND RELATED FINANCIAL INSTRUMENTS
FOR rrs OWN ACCOUNT. AS PART OF SUCH ACTIVITY. THE FUND MAY NEED TO MAINTAIN CASH
BALANCES IN NON-U.S. DOLLAR DENOMINATED CURRENCIES. THE REGULAR ACTIVITY AND PURPOSE OF THE FUND
IS TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE AMOUNT OF SUCH NON-U.S. DENOMINATED
CURRENCIES INCREASE AND/OR DECREASE THROUGHOUT THE YEAR AT FREQUENT INTERVALS. IT IS
IMPRACTICABLE TO MEASURE EACH INCREASE OR DECREASE IN FOREIGN CURRENCY ACCOUNT(S).
THE ADJUSTED TAX BASIS OF NON-U.S. DOLLAR DENOMINATED CURRENCIES OBTAINED BY THE FUND IS
DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH CURRENCY TRANSACTIONS ARE
CHARACTERIZED AS ORDINARY UNDER INTERNAL REVENUE CODE ('IRC") §988.
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND ULP
LINE 8: THE ADJUSTED TAX BASIS OF NON-U.S. DOLLAR DENOMINATED CURRENCIES OBTAINED BY THE FUND IS
DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH CURRENCY TRANSACTIONS ARE
CHARACTERIZED AS ORDINARY UNDER INTERNAL REVENUE CODE ("IRC") §988. DUE TO THE NATURE AND
VOLUME OF ACITMTY, IT IS NOT PRACTICAL TO ASCERTAIN WHETHER THE RELEVANT LOSS THRESHOLDS
HAS MET ANY OF THE SPECIFIED EXCEPTIONS PROVIDED IN REVENUE PROCEDURE 2004-66, AND AS SUCH
THE FUND IS REPORTING THESE TRANSACTIONS ON A PROTECTIVE BASIS. GAINS AND LOSSES. RECOGNIZED
THIS YEAR, MAY BE THE RESULT OF ACQUISITIONS OCCURRING IN THIS OR PRIOR YEARS(S).
LINE 9: TAXPAYER IS A FUND WITH LIMITED PARTNERS. THE REGULAR ACTIVITY AND PURPOSE OF THE FUND IS
TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE FUND GENERATES INCOME AND LOSS FROM
ITS REGULAR ACTIVITY AND PROVIDES RELEVANT INFORMATION TO EACH PARTNER FOR PURPOSES OF
FILING THEIR RESPECTIVE TAX RETURN. A PARTNER'S SHARE OF ANY LOSS REFERRED TO ON LINE 8
IS AVAILABLE TO BE CLAIMED ON A PARTNER'S TAX RETURN.
SELECT1NVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND LLP
* THE FUND WILL ATTACH A FORM 8886 WITH THE FOLLOWING RESPONSES TO ITS TAX RETURN FOR THE YEAR ENDED
DECEMBER 31. 2005. PLEASE SEE FORM 8886 AND THE FORM INSTRUCTIONS FOR FURTHER DETAILS ON WHEN YOU ARE
REQUIRED TO FILE FORM 8886 AND SPECIFIC DETAILS ON HOW TO COMPLETE FORM 8886. IF NECESSARY.
INFORMATION FOR FORM 8886: REPORTABLE TRANSACTION DISCLOSURE STATEMEN1
RECEIVED FROM INVESTMENTS IN UNDERLYING MANAGERS *
FOR THE TAX YEAR ENDED DECEMBER 31, 2005
LINE 1A: OTHER LOSS
LINE1B: ENTER YOUR INITIAL YEAR PARTICIPATED IN THE PARTNERSHIP
LINE 1C: N/A
LINE 2: CHECK BOX "D"
LINE 3: N/A
LINE 4: DETAILS AVAILABLE UPON REQUEST
LINES: BRENCOURT MULTI- STRATEGY. LP
EIN: 13-4151859
BRENCOURT MERGER ARBITRAGE MASTER LTD
EIN: 32-0006280
LINES: N/A
LINE 7: TAXPAYER IS A PARTNER IN IN THE FUNDS LISTED IN LINE 5. (THE FUND").
THE FUND TRADES IN VARIOUS STOCKS. SECURITIES AND RELATED FINANCIAL INSTRUMENTS FOR ITS OWN
ACCOUNT. AS PART OF SUCH ACTIVfTY, THE PARTNERSHIP MAY NEED TO MAINTAIN CASH BALANCE IN
NON-US DOLLAR DENOMINATED CURRENCIES. THE REGULAR ACTIVITY AND PURPOSE OF THE PARTNERSHIP
IS TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE AMOUNT OF SUCH NON-US DOLLAR
DENOMINATED CURRENCIES INCREASE AND/OR DECREASE THROUGHOUT THE YEAR AT FREQUENT INTERVALS.
PLEASE SEE LINE 8 REGARDING HOW THE BASIS OF THE ASSETS FOR WHICH THERE WAS A LOSS WAS DETERMINED.
LINES: THE ADJUSTED TAX BASIS ON NON-US DOLLAR DENOMINATED CURRENCIES OBTAINED BY THE PARTNERSHIP
ARE DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH CURRENCY TRANSACTIONS ARE
CHARACTERIZED AS ORDINARY UNDER INTERNAL REVENUE CODE SECTION 988. DUE TO THE NATURE AND
VOLUME OF ACTIVITY. IT IS NOT PRACTICAL TO ASCERTAIN WHETHER THE RELEVANT REPORTABLE LOSS
THRESHOLDS ARE EXCEEDED FOR A GIVEN TRANSACTION OR DETERMINED WITH CERTAINTY WHETHER
A GIVEN TRANSACTION HAS MET ANY OF THE SPECIFIED EXCEPTIONS PROVIDED IN REVENUE PROCEDURE
2003-24, AND AS SUCH TAXPAYER IS REPORTING THESE TRANSACTIONS TO THE IRS ON A PROTECTIVE BASIS.
LINE 9: THE REGULAR ACTIVITY AND PURPOSE OF THE PARTNERSHIP IS TO GENERATE A PRE TAX ECONOMIC RATE
OF RETURN. THE PARTNERSHIP GENERATES INCOME AND LOSS FROM ITS REGULAR ACTIVITY AND PROVIDES
RELEVANT INFORMATION TO EACH PARTNER FOR PURPOSE OF FILING THEIR RESPECTIVE RETURNS.
A PARTNER'S SHARE OF AN INCOME OR LOSS REFERRED TO ON LINE 8 IS AVAILABLE TO BE CLAIMED ON
A PARTNER'S TAX RETURN FOR 2005.
8621
(Rev. December 2004)
Department of IheTreasuy
Internal Revenue Service
Name of shareholder
Return by a Shareholder of a Passive Foreign
Investment Company or Qualified Electing Fund
OMB No. 1545-1002
AttHchmBnt
Sequence No. 69
*• See separate Instructions.
Wl't'lT^M PTSUfctoiW-'
WMC HEDGE FUND, LLP-Sc!fieX)tvtC ^. j
Number, street, and room or suite no. (If a P.O. box, see page 2 of Instructions.)
601 CARLSON PKWY, SUITE 800
Identifying number (see pan* 9 of Instructions)
Lf(~ls029.s;ii
Shareholder tax yean calendar year 20 .05 or other tax year
beginning
20 — and ending
20
City or town, state, and ZIP code or country
MINNETONKA, MN 55305
Check type of shareholderfilingthe return: d Individual Q Corporation 0 Partnership D S Corporation Q Nongrantor Trust D Estate
Name of passive foreign Investment company (PRO) or qualified electing fund (QEF)
Employer Identification number (H any)
K-1 :SELECT1NVEST ARBITRAGE/RELATIVE VALUE SEE ATTCHMN1
13-4011857
Address (Enter number, street, city or town, and country.)
Tax year of company or fund: calendar year 20
30 ROCKEFELLER PLAZA, STE 2800
NEW YORK, NY 10112
tax year beginning
ending
, 20
or other
and
, 20
•23111 Elections (See instructions.)
A 0 Election To Treat the PFIC as a QEF. I, a shareholder of a PRO, elect to treat the PFIC as a QEF. Comptefe fines 1a through 2c of Part II.
B EH Deemed Sale Election. I, a shareholder on the first day of a PRC's first tax year as a QEF, elect to recognize gain on the
deemed sale of my Interest In the PFIC. Enter gain or loss on line 10f of Part IV.
C D Deemed Dividend Election. I, a shareholder on the first day of a PRC's first tax year as a QEF that is a controlled foreign
corporation (CFC), elect to treat an amount equal to my share of the post-1986 earnings and profits of the CFC as an excess
distribution. Enter this amount on line 10e of Part IV.
D CD Election To Extend Time For Payment of Tax. I, a shareholder of a QEF, elect to extend the time for payment of tax on
the undistributed earnings and profits of the QEF until this election is terminated. Complete lines 3a through 4c of Part II to
calculate the tax that may be deferred.
Note: If any portion of line fa or line 2a of Part II is indudible under section 551 or 951, you may not make this election.
Also, see sections 1294(c) and 12940 and the related regulations for events that terminate this election.
E D Election To Recognize Gain on Deemed Sale of PFIC. I, a shareholder of a former PRC or a PFIC to which section 1297(e) applies, elect to
treat as an excess distribution the gain recognized on the deemed sale of my interest in the PFIC, or, if I qualify, my share of the PRC's post-1986
earnings and profits deemed distributed, on the last day of its last tax year as a PRC under section 1297(a). Enter gain on line 10f of Part IV.
F D Election To Mark-to-Market PFIC Stock. I, a shareholder of a PRC, elect to mark-to-market the PRC stock that is
marketable within the meaning of section 1296(e). Complete Part III.
Income From a Qualified Electing Fund (QEF). All QEF shareholders complete lines 1a through 2c. If you are making
Section D, also complete lines 3a through 4c. (See page S of Instructions.)
1a
1a Enter your pro rata share of the ordinary earnings of the QEF .
b Enter the portion of line 1a that is included in Income under
1b
section 551 or 951 or that may be excluded under section 1 293(g)
1c
c Subtract line 1b from line 1a. Enter this amount on your tax return ;is dividend income . .
2a
2a Enter your pro rata share of the total net capital gain of the QEF
"^ri
b Enter the portion of line 2a that Is included in income under
2b
section 551 or 951 or that may be excluded under section 1 293(g)
•
c Subtract line 2b from line 2a. This amount Is a net long-term capital gain. Enter this amount
in Part II of the Schedule D used for your Income tax return. (See in structions.)
3a Add lines 1c and 2c
.
.
. . .
b Enter the total amount of cash and the fair market value of other
property distributed or deemed distributed to you during the tax
3b
year of the QEF. (See Instructions.)
.
.
.
. . .
c Enter the portion of line 3a not already included in line 3b that is
attributable to shares in the QEF that you disposed of, pledged,
3c
or otherwise transferred during the tax year
d Add lines 3b and 3c
e Subtract line 3d from line 3a, and enter the difference (if zero or less, enter amount in brackets)
Important If line 3e is greater than zero, and no portion of line 1a or 2a is indudible in income
under section 551 or 951, you may make Section D with respect to the amount on line 3e.
4a
4a Enter the total tax for the tax year (See instructions.) . . . .
b Enter the total tax for the tax year determined without regard to
4b
the amount entered on line 3e
c Subtract line 4b from line 4a. This is the deferred tax, the time for payment of which is
extended by making Election D. See instructions
For Paperwork Reduction Act Notice, see page 7 of separate instructions.
Cat. No. 64174H
2c
3a
I
3d
3e
|
4c
Form 8621 (Rev. 12-2004)
Page 2
Form BS21 (Rav. 12-2004)
Gain or (Loss) From Mark-to-Market Election (See page 5 of instructions.)
Enter the fair market value of your PRC stock at the end of the tax year
Enter your adjusted basis In the stock at the end of the tax year
Excess. Subtract line 6 from line 5. If a gain, stop here. Include this amount as ordinary Income
on your tax return. If a loss, go to line 8
Enter any unreversed inclusions (as defined in section 1296(d)). See Instructions. . . . .
Enter the smaller of line 7 or line 8. Include this amount as an ordinary loss on your tax return
Distributions From and Dispositions of Stock of a Section 1291 Fund (See page 6 of instructions.)
Complete a separate Part IV for each excess distribution (see instructions).
10a Enter your total distributions from the section 1291 fund during the current tax year with respect to the
applicable stock. If the holding period of the stock began In the current tax year, see Instructions . .
10a
b Enter the total distributions (reduced by the portions of such distributions that were excess
distributions but not Included In Income under section 1291(a)(1)(B)) made by the fund with
respect to the applicable stock for each of the 3 years preceding the current tax year (or if
shorter, the portion of the shareholder's holding period before the current tax year). . . .
c Divide line 10b by 3. (See instructions If the number of preceding tax years is less than 3.) .
d Multiply RnelOc by 125% (1.25)
10c
10d
e Subtract line 10d from line 10a This amount. If more than zero. Is the excess distribution with respect to
the applicable stock. If zero or less and you did not dispose of stock during the tax year, do not complete
the rest of Part IV. See instructions If you received more than one distribution during the current tax year.
Also, see instructions for rules for reporting a nonexcess distribution on your Income tax return . . .
10e
10b
f Enter gain or loss from the disposition of stock of a section 1291 fund or former section 1291
10f
fund. If a gain, complete line 11. If a loss, show it in brackets and do not complete line 11 .
11 a Attach a statement for each distribution and disposition. Show your holding period for each
share of stock or block of shares held. Allocate the excess distribution to each day in your
holding period. Add all amounts that are allocated to days in each tax year.
b Enter the total of the amounts determined In line 11 a that are allocable to the current tax year
and tax years before the foreign corporation became a PRC (pre-PFIC tax years). Enter these
amounts on your income tax return as other income
c Enter the aggregate increases in tax (before credits) for each tax year in your holding period
(other than the current tax year and pre-PFIC years), (See Instructions.)
d Foreign tax credit (See instructions.)
e Subtract line 11d from line 11 c. Enter this amount on your income tax return as "additional
tax." (See instructions.)
f Determine interest on each net Increase in tax determined on line 11 e using the rates and
methods of section 6621. Enter the aggregate amount of interest here. (See Instructions.) .
Status of Prior Year Section 1294 Elections and Termination of Section 1294 Elections
Complete a separate column for each outstanding election. Complete lines 9 and 10 only if there is a
partial termination of the section 1294 election.
P)
1
2
Deferred t a x . . . .
4
Interest accrued on deferred
tax (line 3) as of the filing date
5
Event terminating election
6
Earnings distributed or deemed
distributed during the tax year .
Deferred tax due with this
return
Accrued interest due with
this return .
Deferred tax outstanding after
partial termination of election
Interest accrued after partial
termination of election . .
B
9
10
(in)
fiv)
(v)
(vi)
Tax year of outstanding
election
Undistributed earnings to
which the election relates
3
7
00
Form 8621
(Rev. 12-2004)
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
13-4011857
WMC HEDGE FUND LLP
Partner #47756
PASSIVE FOREIGN INVESTMENT COMPANY fPFlCl INFORMATION
DURING THE TAX YEAR 2005, SELECTINVEST ARBITRAGE/RELATIVE VALUE HAS INDIRECT AND DIRECT INTERESTS IN
PRO'S THROUGH ITS VARIOUS INVESTMENTS. PLEASE CONSULT YOUR TAX ADVISOR REGARDING THE
FORM 8621 FILING REQUIREMENTS. ADDITIONAL INFORMATION INCLUDING THE ADDRESS.
TAX YEAR. AND EIN OF THE PFIC IS INCLUDED BELOW AND SHOULD BE USED TO COMPLETE THE APPLICABLE
SECTIONS OF THE FORM 8621 FOR EACH PFIC.
Note (11
LJnela
Name & Address of PFIC
Note (2)
Line 2a
Note (3)
Line 3b
OCTANS INVESTMENTS SAR.L
46A, AVENUE J.F. KENNEDY. L-1 855
LUXEMBOURG
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
245
NONE
NONE
DIESEL MEZZANINE III LTD.
CLARENDON HOUSE
2 CHURCH STREET
HAMILTON, BERMUDA HM 1 1
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
823
NONE
NONE
RIS HOLDING LTD.
2ND FLOOR
WATERFRONT CENTRE
28 NORTH CHURCH STREET
P.O BOX 2506 GT
GEORGETOWN, GRAND CAYMAN
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
20
NONE
HIGHBRIDGE CAPITAL CORPORATION
PO BOX 30554
GRAND CAYMAN
CAYMAN ISLANDS, BWI
EIN: N/A
Tax Year. 1/1/2005 - 12/31/2005
13.795
NONE
349,748
OCH-ZIFF CAPITAL STRUCTURE OVERSEAS
FUND LTD
P.O. BOX 896GT. HARBOUR CENTRE, 2ND FLOOR
GEORGE TOWN, GRAND CAYMAN
CAYMAN ISLANDS
NONE
NONE
NONE
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
rrje>rr~'
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner #47756
13-4011857
WMC HEDGE FUND LLP
Note (1)
Line 1 a
Note <2)
Une2a
NONE
NONE
NONE
OCH-ZIFF CAPITAL STRUCTURE OVERSEAS
FUND LTD
P.O. BOX 896GT, HARBOUR CENTRE, 2ND FLOOR
GEORGE TOWN, GRAND CAYMAN
CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
NONE
NONE
SATELLITE CREDIT OPPORTUNITIES FUND, LTD.
WALKER HOUSE. MARY SREET
P.O. BOX 265
GEORGE TOWN. GRAND CAYMAN
CAYMAN ISLANDS, B.W.I
EIN: N/A
Tax Yean 7/1/2004 - 6/30/2005
6,545
1,759
196,579
VEGA RELATIVE VALUE FUND LIMITED
CIO INVESTORS FUND SERVICES LTD v/J tfi,>*v fr^
BLOCK D. IVEAGH COURT, HARCOURT ROAD
'
DUBLIN 2. IRELAND
EIN: N/A
Tax Year. 1/1/2005 - 12/31/2005
NONE
NONE
226.537
AURIGA FEEDER FUND LIMITED
C/0 INVESTORS FUND SERVICES LTD
BLOCK D. IVEAGH COURT. HARCOURT ROAD
DUBLIN 2, IRELAND
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
NONE
NONE
MODUS FEEDER FUND LIMITED
CIO INVESTORS FUND SERVICES LTD y^, rr-A^ f-r-> f
BLOCK D, IVEAGH COURT, HARCOURT ROAD
DUBLIN 2. IRELAND
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
NONE
NONE
Name & Address of PFIC
NEW STAR CREDIT OPPORTUNITIES FUND LTD
WALKERS SPV LIMITED
,
WALKER HOUSE. 87 MARY STREET
WrhTTA^j
PO BOX 908GT
GEORGE TOWN. GRAND CAYMAN
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
Y33-7
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner#47756
13^011857
WMC HEDGE FUND LLP
Note Ml
Line 1 a
Note (2)
Line2a
NONE
NONE
NONE
3,307
NONE
309,990
10
NONE
NONE
339
NONE
NONE
PROSPERITY AURORA LTD
PO BOX 309 GT
GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
NONE
WESTERN OIL SANDS, INC.
440 SECOND AVE SW, SUITE 2400
CALGARY, AB T2P 5E9 CANADA
EIN: N/A
Tax Year. 1/1/2005 -12/31/2005
NONE
NONE
DUKE FUNDING III, LTD
CIO MAPLES FINANCE LTD
i/
PO BOX 1093GT, QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 10/1/2004 - 9/30/2005
NONE
Name & Address of PFIC
MAYAN CAPITAL FEEDER FUND LTD
CIO INVESTORS FUND SERVICES LTD
BLOCK D, IVEAGH COURT, HARCOURT ROAD
DUBLIN 2, IRELAND
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
CQS CAPITAL STRUCTURE ARBITRAGE
UGLAN HOUSE
SOUTH CHURCH STREET
GEROGE TOWN
^
LA
CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 -12/31/2005
SUNFISH MORTGAGE FUND, LTD
CAYMAN ISLANDS
EIN: N/A
PERRY CMBS SPV1
CAYMAN ISLANDS
EIN: N/A
U
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Name & Address of PFIC
Partner #47756
13-4011857
WMC HEDGE FUND LLP
Note (1)
LJnela
Note (2)
UneZa
Note (3)
Line 3b
1
NONE
1
DUKE FUNDING VII, LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT. QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 10/1/2004 - 9/30/2005
2
NONE
DUKE FUNDING VIII. LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT, QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 4/5/2005 - 9/30/2005
2
NONE
DUKE FUNDING HIGH GRADE I, LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT, QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/27/2004 - 9/30/2005
3
NONE
DUKE FUNDING HIGH GRADE III. LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT, QUEENSGATE HOUSE
W >*-> rr*^ Rn/nrn
SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year. 8/3/2004 - 9/30/2005
1
NONE
1
1
NONE
NONE
DUKE FUNDING V, LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT, QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 10/1/2004 - 9/30/2005
ATHOS FUNDING, LTD
C/O MAPLES FINANCE LTD
PO BOX 1093GT, QUEENSGATE HOUSE
SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN. CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
-
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL_
Partner #47756_
Name& Address of PFIC
1 3-401 1 857
WMC HEDGE FUND LLP
Note (11
Line 1 a
Note (21
Line2a
Note (31
Line 3b
ENDEAVOR FUNDING, LTD
C/O WALKERS SPV LTD
Y/tH>*M frJQr^
PO BOX 908GT, WALKER HOUSE, 87 MARY STREET
GEORGETOWN, GRAND CAYMAN. CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
.
NONE
NONE
_
GLACIER FUNDING CDO III, LTD
C/O MAPLES FINANCE LTD
V/Jmrw^ pWorv
PO BOX 1093GT, QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
-
NONE
NONE
HIGHGRADE STRUCTURE CREDIT CDO 2005-1 LT
C/O MAPLES FINANCE LTD
vOvnn-^1 JV °^
PO BOX 1093GT, QUEENSGATE HOUSE. SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
1
~
NONE
NONE
INDEPENDENCE VI CDO, LTD
C/O WALKERS SPV LTD
VvJcwrr^ FrJCTH
PO BOX 908GT. WALKER HOUSE, 87 MARY STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
-
NONE
_
NONE
KIRKWOOD CDO 2004-1 LTD
C/O CALEDONIAN BANK & TRUST LTD
PO BOX 1043GT, CALEDONIAN HOUSE
GRAND CAYMAN. CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
1
NONE
NONE
KLIO FUNDING, LTD
C/O MAPLES FINANCE LTD
VvAhrr/A] /Vo.-vo
PO BOX 1093GT. QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN. CAYMAN ISLANDS
EIN: N/A
Tax Year. 1/1/2005 - 12/31/2005
2
~
NONE
NONE
KUO II FUNDING, LTD
C/O MAPLES FINANCE LTD
y/tnTrv^-l
frfcr^
PO BOX 1093GT, QUEENSGATE HOUSE, SOUTH' CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
6
-
NONE
—
NONE
—
,-,.
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Name & Address of PFIC
Partner #47756
Note (1)
LJnela
13-4011857
WMC HEDGE FUND LLP
Note (2}
Line 2a
NEPTUNE CDO 2004-1 LTD
CIO WALKERS SPV LTD
WtTvpr^ f^DTt-J
PO BOX 908GT. WALKER HOUSE. 87 MARY STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 -12/31/2005
-
NONE
NONE
_
NORTHCOVE CDO LTD
C/O MAPLES FINANCE LTD
V%vrr/\»-] f^Or*PO BOX 1093GT. QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
-
NONE
NONE
NORTHWALL FUNDING CDO I LTD
C/O MAPLES FINANCE LTD
V^TTY^ iVonPO BOX 1093GT, QUEENSGATE HOUSE. SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
-
PREMIUM LOAN TRUST I, LTD
C/O MAPLES FINANCE LTD
Wimrvtf^ Fr*o^J
PO BOX 1093GT, QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
NONE
NONE
—
NONE
NONE
SOUTH COAST FUNDING VII LTD
C/O MAPLES FINANCE LTD
\J \rtrr^\ /V07T-'
PO BOX 1093GT. QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
-
NONE
NONE
STONE TOWER CDO, LTD
C/O DEUTSCHE BANK (CAYMAN) LTD
PO BOX 1984GT, ELIZABETH SQUARE
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 -12/31/2005
1
NONE
NONE
STONE TOWER CDO II, LTD
C/O DEUTSCHE BANK (CAYMAN) LTD
PO BOX 1984GT. ELIZABETH SQUARE
W<T^ JV Prw
GEORGETOWN, GRAND CAYMAN. CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 - 12/31/2005
-
NONE
NONE
SELECTINVEST ARBITRAGE/RELATIVE
SCHEDULE K-1 SUPPLEMENTAL DETAIL
Partner#47756
13-4011857
WMC HEDGE FUND LLP
Note (2)
Line 2a
Note (3)
Line 3b
RESIX FINANCE LTD
100
CIO MAPLES FINANCE LTD
\M*VTW^ fVorrv
&.
PO BOX 1093GT, QUEENSGATE HOUSE. SOUTH CHURCH STREET
GEORGETOWN. GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Year 1/1/2005 -12/31/2005
NONE
103
ELLING EMERGING MARKET FUND, LTD
ABBEY COURT BLOCK C. IRISH LIFE CENTER \Mt^T*v^ l^or^
LOWER ABBEY STREET, DUBLIN ONE IRELAND
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
NONE
NONE
54
NONE
NONE
1.173
28
NONE
Name & Address of PFIC
Note (11
Line 1 a
95
^
OCTAGON INVESTMENT PARTNERSHIP V. LTD
PO BOX 1093GT, QUEENSGATE HOUSE, SOUTH CHURCH STREET
GEORGETOWN, GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
V^-CnJ*
Tax Yean 1/1/2005 -12/31/2005
SUNRSH MORTAGE FUND, LTD
CIO SUNFISH MANAGEMENT GROUP, ULC \AJfrrnv\5M
355 MADISON AVENUE
NEW YORK. NY 10017
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
CRC GLOBAL STRUCTURED CREDIT FUND, LTD
CIO BANK OF BERMUDA (CAYMAN LTD) ys/VWrr^V
Y
PO BOX 513 GT
NORTH CHURCH STREET
GRAND CAYMAN, CAYMAN ISLANDS
EIN: N/A
Tax Yean 1/1/2005 - 12/31/2005
2
NOTES:
(1) These amounts are Included in Dividend Income in Box 6a and Box 11, Code F of your Schedule K-1.
(2) These amounts are included in Net Long-Term Capital Gains (Loss) on Box 9a and Box 11, Code F of your Schedule K-1.
(3) These amounts represent the cash & fair market value of other property distributed or deemed distributed from the above PFIC(s).
(4) Each of the PFIC's listed above will permit its shareholder's to inspect and copy the permanent books of account, records and
such other documents maintained by the PFIC that are necessary to establish that the PFIC's ordinary earnings and net capital
gains, as provided in §1293(e) of the U.S. Internal Revenue Code are computed in accordance with U.S. income tax principles.
Form 8868
{Rev. December 2004)
Application for Extension of Time To File an
Exempt Organization Return
Department of the Treasury
Internal Revenue Service
OMB No. 1545-1709
File a separate application for each return.
• If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box
• If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II (on page 2 of this form).
Do not complete Part II unless you have already been granted an automatic 3-month extension on a previously filed Form 8868.
I Part I |
Automatic 3-Month Extension of Time - Only submit original (no copies needed)
Form 990-T corporations requesting an automatic 6-month extension - check this box and complete Part I only
All other corporations (including Form 990-C filers) must use Form 7004 to request an extension of time to file income tax
returns. Partnerships, REMICs, and trusts must use Form 8736 to request an extension of time to file Form 1065, 1066, or 1041.
Electronic Filing (e-file). Form 8868 can be filed electronically if you want a 3-month automatic extension of time to file one of the returns noted
below (6 months for corporate Form 990-T filers). However, you cannot file it electronically if you want the additional (not automatic) 3-month
extension, instead you must submit the fully completed signed page 2 (Part II) of Form 8868. For more details on the electronic filing of this form,
visit vnvw.irs.gov/efile.
Employer identification number
Name of Exempt Organization
Type or
print
Pile by the
due date for
tiling your
return See
insfru ebons.
41-6022514
WHITNEY FOUNDATION
Number, street, and room or suite no. If a P.O. box, see instructions.
821 MAROUETTE AVE, NO. 1900
City, town or post office, state, and ZIP code. For a foreign address, see instructions.
MINNEAPOLIS,
MN
55402
Check type of return to be filed (file a separate application for each return):
I
I Form 990
CH Form 990-BL
Form 990-EZ
Form 990-PF
I I Form 4720
CH Form 5227
dl Form 6069
CU Form 8870
I I Form 990-T (corporation)
I
I Form 990-T (sec. 401 (a) or 408(a) trust)
I
I Form 990-T (trust other than above)
CH Form 1041-A
The books are in the care of
WHITNEY MANAGEMENT COMPANY
Telephone No> (612) 904-2313
FAX No.
• If the organization does not have an office or place of business in the United States, check this box.
• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN)
box ^- I
1. If it is for part of the group, check this box ^ I
. If this is for the whole group, check this
J and attach a list with the names and EINs of all members the extension will cover.
1
Irequestan automatic 3-month (6-months for a Form 990-T corporation) extension of time until
AUGUST 15,
to file the exempt organization return for the organization named above. The extension is for the organization's return for
^ I X I calendar year 2 0 0 5 or
^-1 I tax year beginning
, and ending
.
2
If this tax year is for less than 12 months, check reason: I
3a
If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any
nonrefundable credits. See instructions
8,696.
If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated
tax payments made. Include any prior year overpayment allowed as a credit
4.896.
Balance Due. Subtract line 3b from line 3a. Include your payment with this form, or, if required, deposit with FTD
coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System). See instructions
3.800.
b
e
I Initial return
I
I Final
return
I
2006
.
I Change in accounting period
Caution. If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment instructions.
LHA
For Privacy Act and Paperwork Reduction Act Notice, see instructions.
523831
05-01-05
22
Form 8868 (Rev. 12-2004)
Page 2
Form BBSS (Rev. 12-2004)
• /a you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II and check this box
jQote: Only complete Part II rf you have already been granted an automatic 3-month extension on a previously filed Form 8868.
• If you are filing for an Automatic 3-Month Extension, complete only Part I (on page 1).
Partll
Type or
print
File by the
extended
due date lor
filing the
return See
instructions
Additional (not automatic) 3-Month Extension of Time - Must file Original and One Copy.
Name of Exempt Organization
Employer identification number
41-6022514
WHITNEY FOUNDATION
Number, street, and room or suite no. If a P.O. box, see instructions.
For IRS use only
601 CARLSON PARKWAY, NO. 800
City, town or post office, state, and ZIP code. For a foreign address, see instructions.
MINNETONKA, MN
55305
Check type of return to be filed (File a separate application for each return):
I
I Form 990
I I Form 990-EZ
CU Form 990-T (sec. 401 (a) or 408(a) trust) I I Form 1 041 -A
f I Form 5227
I
I Form 990-BL
[X I Form 990-PF
I I Form 990-T (trust other than above)
I I Form 4720
I I Form 6069
I
I Form 8870
STOP: Do not complete Part II if you were not already granted an automatic 3-month extension on a previously filed Form 8868.
The books are in the care of
MERISTEM
FAX No.
Telephone No. *• ( 9 5 2 ) 8 3 5 - 2 5 7 7
• If the organization does not have an office or place of business in the United States, check this box
• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN)
_. If this is for the whole group, check this
box ^- I
I. If rt is for part of the group, check this box ^- I I and attach a list with the names and EINs of all members the extension is for.
4
5
I request an additional 3-month extension of time until
NOVEMBER
For calendar year 2 0 0 5 , or other tax year beginning ___^_^
6
7
If this tax year is for less than 12 months, check reasonState in detail why you need the extension
I
15.
] Initial return
2006.
I
_
and ending
I Final return
I
I Change in accounting period
SEE STATEMENT 2
8a
If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any
nonrefundable credits. See instructions
8,696
If this application is for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated
tax payments made. Include any prior year overpayment allowed as a credit and any amount paid
previously with Form 8868
8.696
Balance Due. Subtract line 8b from line 8a. Include your payment with this form, or, if required, deposit with FTD
coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System). See instructions . .
J_
Signature and Verification
Under penalties of perjury, I declare that I have examined this form, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct, and complete, and that I am authorized to prepare this form.
iiire
Title
£JBkL
Date
Notice to Applicant - To Be Completed by the IRS
I
I
I We have approved this application Please attach this form to the organization's return.
I We have not approved this application. However, we have granted a 10-day grace period from the later of the date shown below or the due
date of the organization's return (including any prior extensions). This grace penod is considered to be a valid extension of time for elections
otherwise required to be made on a timely return. Please attach this form to the organization's return.
I We have not approved this application. After considering the reasons stated in item 7, we cannot grant your request for an extension of time to
file. We are not granting a 10-day grace period
I We cannot consider this application because it was filed after the extended due date of the return for which an extension was requested.
I Other
By:.
Director
Date
Alternate Mailing Address - Enter the address if you want the copy of this application for an additional 3-month extension returned to an address
different than the one entered above
'
Type
or print
523B32
05-01-O5
—"-»-•—
Name
VIRCHOW KRAUSE (KRIS ALINDER)
Number and street (include suite, room, or apt. no.) or a P.O. box number
7 9 0 0 XERXES AVE S, STE 2 4 0 0
!
1
1
ii
City or town, province or state, and country (including postal or ZIP code)
[
BLOOMINGTON, MN 55431-1115
-
f\t
,:
:'!-~:
-!•;:;:> i
1
illi^ l 7 Viinc !: ;
"^ I-.-./
i-'i
,-,-.-,--. , . .__
L
**' -' •"" *-' i Rorrrt.8868 (Rev 12-2004)
1
j
1 i ) ' i -' '—