Return of Private Foundatio N
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i Return of Private Foundatio n OMB No 1545-0 05 2 Fo rm 990_ PF or Section 4947(a )(1 ) Nonexempt Charitable Trust Treated as a Private Foundation Depa rtment of the Treas ury 2003 Inte r nal R eve nue Se rv ic e Note The organiza ti on maybe able to use a copy of this return to sa ti sfy state reportin g For calendar-year- 2003 , or tax year beginning------ - - - , 2003 , and ending , 20 G Check al l that apply [:] Initial return E] Final return E] Amended return Address change [:] Name change Use the IRS Name of organization A Employer identification number label . WELLS FARGO FOUNDATION (FKA NORWEST FOUNDATION ) 41-136744 1 Otherwise, Nu m ber and stree t (o r P O box numbe r i f mai l is no t delivered to street address) Room/suite B Tel ephon e number ( see page 10 of the instr uctions ) prin t or type . 16 00 WELLS FARGO C ENT E R, N 9305- 1 6 9 Ci t y or tow n, sta t e, an d ZIP co d e See Specific C If exemption app lication is pending check here 10- Instructions. MINNEAPOLIS MN 5547 9 D 1 Foreign organizations, check here I, . El H Check type of organization n Section 501(c)(3) exempt private foundatio n 2. Foreign organizations meeting the 85% tes t Section 4947(a)(1) nonexempt charitable trust [:] Other taxable private foundatio n check here and attach computation 0 . E If private foundation status was terminate d I Fair market value of al l assets at end J Accounting method E] Cash [:] Accrual ❑ under section 507(b)(1)(A), check here ► of year (from Part 11, col (c), ❑ Other (specify ) F If the foundation is in a 60-month termination line 16) ► $ 368,372,548 (Part 1, column (d) must be on cash basis) under section 507(b)(1)(B), check here ► Part I Analysis of Revenue and Expenses (The total (a) Revenue and (d) Disbursement s (b) Net investment (c) Adjusted net for charitable of amounts in columns (b), (c), and (d) may not necessarily equal expenses per the amounts in column (a) (see page 10 of the instructions)) books income income purposes (cash basis only ) 1 Contributions, gifts, grants, etc , received (attach schedule) . Check ► F_~ if the foundation is not required to attach Sch B 2 Distributions from split-interest trust s 3 Interest on savings and temporary cash investments . 4 Dividends and interest from securities . 5a Gross rents b (Net rental income or (loss) 6a Net gain or (loss) from sale of assets not on line 10 b Gross sales price for all assets on line 6a 7 Capital gain net income (from Part IV, line 2) 8 Net short-term capital gai n 9 Income modifications . 10a Gross sales less returns and allowances b Less . Cost of goods sold . c Gross profit or (loss) (attach schedule) 11 Other income (attach schedule ) 12 Total . Add lines 1 through 1 1 185,171,051 00 293,734,704 00 13 Compensation of officers, directors, trustees, etc . y 14 Other employee salaries and wages . 15 . 1 6a . 06 b ay e) i (71 c edule) 262,923 2 62,923 0 17 1 SO 18 instructions) 634,5 2 1 634,521 m6nm 19 It depletion 20 cupancy 21 Travel, conferences, and meetings : . : . 22 Printing and publications . 23 Other expenses (attach schedule) 24 Total operating and administrative expenses . U"aM Add lines 13 through 2 3 . 89-5,8 , 3 00 0 25 Contributions, gifts, grants pai d 4 6,446,72 3 26 Total expenses and disbursements. Add lines 24 and 25 47,342,536 0 0 895,813 .00 27 Subtract line 26 from line 1 2 a Excess of revenue over expenses and disbursements 137 .82 b Net investment income (if negative, enter -0-) 8 c Adjusted net income (if negative, enter -0- ) For Paperwork Reduction Act Notice, see the instructions . Form 990-PF (2003 ) IS A STF FED2037F 1 If / Form 990-PF (2003) Page 2 Attached schedules and amounts in the description column leginrnng of year End of ar Part II Balance Sheets should be for end-of-year amounts only (See instructions ) ( a) Book Value ( b ) Book Valu e Fair Market Value 1 Cash - non-interest-bearing 17,268,916 9,998,892 9,998,892 2 Savings and temporary cash investments . .. 3 Accounts receivable ► Less allowance for doubtful accounts ► 106,387,067 582,281 582,28 1 4 Pledges receivable ► Less allowance for doubtful accounts ► 5 Grants receivable . 6 Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule) (see page 15 of the instructions) 7 Other notes and loans receivable (attach schedule) ► Less allowance for doubtful accounts p. a) 8 Inventories for sale or use . a 9 Prepaid expenses and deferred charges . 10a Investments - U S and state government obligations (attach schedule) 17, 222, 901 16,680,332 16, 680,332 b Investments - corporate stock (attach schedule ) 40,269,930 258,194,229 258,194,229 c Investments - corporate bonds (attach schedule) 16 .649 .996 79 .867 .620 79 .867 .62 0 11 Investments - land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► 12 Investments - mortgage loans . 13 Investments-other (attach schedu le) . 14 Land, buildings, and equipment basis ► Less accumulated depreciation (attach schedule) ► 15 Other assets (describe ► 16 Total assets (to be completed by all fi lers -see page 16 of the instructions Also, see page 1 , item I ) 1 9 8 , 7 8 4 , 7 7 2 0 0 1 368,372, 548 001 3 68,372,548 0 0 17 Accounts payable and accrued expenses . 18 Grants payab le u 19 Deferred revenue 20 Loans from officers, directors, trustees, and other disqualified persons 21 Mortgages and other notes payable (attach schedu le) J 22 Other liabilities (describe ► 23 Total liabilities (add lines 17 through 22) 8 . 4 12 .898 00 1 6 .990 .78 7 Organizations that follow SFAS 117 , check here and complete lines 24 through 26 and lines 30 and 31 . N 24 Unrestricted . ~ 25 Temporari ly restricte d 26 Permanently restricte d v Organizations that do not follow SFAS 117, check here c ► ILL and complete lines 27 through 31 . 0 27 Capital stock, trust principal, or current fund s 28 Paid-in or capital surp lus, or land, bldg , and equipment fund U0 29 Retained earnings, accumulated income, endowment, or other fund s 30 Total net assets or fund balances (see page 17 of the d Z instructions) . 190, 371,876 00 1 361,381,760 .0 0 31 Total liabilities and net assets/fund balances (see page 17 of the instructions) 98,784,774 00 1 368,372,547 0 0 Part III Analysis of Changes in Net Assets or Fund Balances Total net assets or Fund balances at beginning of year -Part II, column (a), line 30 (must agree wit h end-of-year figure reported on prior year's return ) 0,371,876 00 2 Enter amount from Part I, line 27a . 7,828,515 0 0 3 Other increases not included in line 2 (itemize) pp- FAS 1 15 Adjustment, 2002 correctio n 33, 181,369 4 Add lines 1, 2, and 3 . 1 .391 .760 0 0 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 Form 990-PF (2003 ) S TF FED2 0 3 7 F 2 Form 990-PF (2003 ) P age 3 Part IV Capital Gains and Losses for Tax on Investment Incom e e (b) How acquired (a)() List and descr ibe() the k inds ofproperty sold ( g real estate , p - Purchase (c) Date acquired (d) Date sol d 2-story brick warehouse , or common stock , 200 shs MLC C o ) D - Donation (mo , day, yr) (mo , day, yr ) la b c d e (e) Gross sales price (f) Depreciati on allowed (g) Cost or other basis (h) Ga in or (loss ) (or allowable) plus expense of sa le (e) p lus ( f) m i nus ( g ) a b c d Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus col (k), but not less than -0-) o r G ) Adjusted basis ( k) Excess of col (i ) (i ) FM V as of 12/31/69 as of 12/31/69 over coi (j), if any Losses (from col (h) ) a b d e . If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 . 2 239,813,72 ° 3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6) ' If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions) . If (loss), enter -0- in Pa rt I, line 8 3 Part V Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income ) If section 4940(d)(2) applies, leave this part blan k Was the organization liable for the section 4942 tax on the distributable amount of any year in the base period? ❑ Yes No If "Yes," the organization does not qualify under section 4940(e) Do not complete this par t 1 Enter the appropriate amount in each column for each year, see page 17 of the instructions before making any entries Base period years (b) (O) Distribution ratio Calendar year (or tax year beginning in) Adjusted qualifying distributions Net value of noncharitable-use assets (col (b) divided by col (c) ) 2002 46,332,450 116,549,104 0 397 2001 46,272,971 103,657,892 0 446 2000 21, 321,188 121,860,958 0 175( 1999 17, 170,547 129,539,382 0 132E 1998 ill 911 .557 93 .