Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2012
Open to Public Inspection
For calendar year 2012, or tax year beginning 01-01-2012 , and ending 12-31-2012
Name of foundation
The Tapeats Fund
 

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 55 Walls Drive Ro   Room/suite
City or town, state, and ZIP code
Fairfield, CT06824
A Employer identification number

76-0412011
B Telephone number (see instructions)

(800) 839-1754
C bullet
G Check all that apply:

D 1. bullet
2. bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$13,309,166J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 218,240 218,240  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 335,095
b Gross sales price for all assets on line 6a 1,936,479
7 Capital gain net income (from Part IV, line 2)... 335,095
8 Net short-term capital gain.........  
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)....... Click to see attachment 75,576 75,575  
12 Total. Add lines 1 through 11........ 628,911 628,910  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 1,731     1,731
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 64,720 38,486   26,234
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 24,468      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 23,789     23,789
21 Travel, conferences, and meetings....... 10,335     10,335
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 104,245 37,934   66,311
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 229,288 76,420   128,400
25 Contributions, gifts, grants paid........ 599,500 599,500
26 Total expenses and disbursements. Add lines 24 and 25 828,788 76,420   727,900
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -199,877
b Net investment income (if negative, enter -0-) 552,490
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2012)
Form 990-PF (2012)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 1,057,130 1,145,469 1,145,469
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 1,162,533 955,428 1,022,848
b Investments—corporate stock (attach schedule)........ 3,586,425 Click to see attachment3,978,853 4,501,598
c Investments—corporate bonds (attach schedule)........ 2,454,531 Click to see attachment1,753,745 1,836,530
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 4,001,468 Click to see attachment4,228,715 4,802,721
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 12,262,087 12,062,210 13,309,166
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
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 12,262,087 12,062,210
30 Total net assets or fund balances (see page 17 of the
instructions).................... 12,262,087 12,062,210
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 12,262,087 12,062,210
Part III 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)............... 1 12,262,087
2 Enter amount from Part I, line 27a..................... 2 -199,877
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 12,062,210
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 12,062,210
Form 990-PF (2012)
Form 990-PF (2012)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b Passthrough K1 Capital Gain      
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 1,936,479   1,790,988 145,491
b       189,604
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       145,491
b       189,604
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 335,095
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 instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 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 blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2011 708,644 13,215,439 000.053622
2010 709,150 12,791,673 000.055438
2009 841,974 11,987,734 000.070236
2008 788,246 14,713,582 000.053573
2007 718,699 16,435,827 000.043728
2 Total of line 1, column (d) ...................... 2 000.276597
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. . . 		3 000.055319
4 Enter the net value of noncharitable-use assets for 2012 from Part X, line 5..... 4 13,312,299
5 Multiply line 4 by line 3....................... 5 736,423
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 5,525
7 Add lines 5 and 6......................... 7 741,948
8 Enter qualifying distributions from Part XII, line 4.............. 8 727,900
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.
Form 990-PF (2012)
Form 990-PF (2012)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 11,050
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3 11,050
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 11,050
6 Credits/Payments:
a 2012 estimated tax payments and 2011 overpayment credited to 2012 6a 11,400
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Tax Paid Original Return: 11400 7 11,400
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 350
11 Enter the amount of line 10 to be: Credited to 2013 estimated taxBullet350 Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bullet
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012 (see instructions for Part XIV)?
    If “Yes,” complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletco Foundation Source Telephone no.bullet (800) 839-1754
    Located atbullet55 Walls DriveFairfieldCT ZIP+4bullet06824
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2012, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 5
    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.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (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)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation 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 2012?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2012, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2012?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?.........................
    b
    If “Yes,” did it have excess business holdings in 2012 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2012.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation 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 2012?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (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?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions)........
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    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)? ......
    5b
     
     
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?........................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    David R Graham Trustee
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    Laurel A Graham Executive VP / Trustee
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    Robert H Graham Pres / Treas / Trustee
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    Spencer R Graham Trustee
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    Whitney G Mixon Trustee
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    Margaret Worden Executive Dir / Sec
    001.00     		0    
    Foundation Source 55 Walls Drive
    Fairfield,CT06824
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Foundation Source Administrative 60,456
    55 Walls Drive suite 302
    Fairfield,CT06824
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    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. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    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...................
    1a
    7,674,004
    b
    Average of monthly cash balances.......................
    1b
    1,038,299
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,802,721
    d
    Total (add lines 1a, b, and c).........................
    1d
    13,515,024
    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..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    13,515,024
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see
    instructions) Click to see attachment.............................
    4
    202,725
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    13,312,299
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    665,615
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    665,615
    2a
    Tax on investment income for 2012 from Part VI, line 5......
    2a
    11,050
    b
    Income tax for 2012. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    11,050
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    654,565
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    654,565
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    654,565
    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 Click to see attachment..........
    1a
    727,900
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    727,900
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    727,900
    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.
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2011     		(c)
    2011     		(d)
    2012
    1 Distributable amount for 2012 from Part XI, line 7 654,565
    2 Undistributed income, if any, as of the end of 2012:
    a Enter amount for 2011 only....... 321,472
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2012:
    a From 2007.......  
    b From 2008.......  
    c From 2009.......  
    d From 2010.......  
    e From 2011.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2012 from Part
    XII, line 4: bullet$ 727,900
    a Applied to 2011, but not more than line 2a 321,472
    b Applied to undistributed income of prior years
    (Election required—see instructions)......     		 
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		 
    d Applied to 2012 distributable amount..... 406,428
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2012.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2011. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2012. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2013 ..........     		248,137
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see
    instructions) .............     		 
    8Excess distributions carryover from 2007 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2013.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2008....  
    b Excess from 2009....  
    c Excess from 2010....  
    d Excess from 2011....  
    e Excess from 2012....  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 9
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2012, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2012 (b) 2011 (c) 2010 (d) 2009
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(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(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList 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).)
    Laurel A Graham
    Robert H Graham
    bList 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.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail of the person to whom applications should be addressed:
    Margaret Worden
    c/o Foundation Source 55 Walls Dr
    Fairfield,CT06824
    (800) 839-1754
    bThe form in which applications should be submitted and information and materials they should include:
    See www.fsrequests.com/tapeats
    cAny submission deadlines:
    See www.fsrequests.com/tapeats
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    See www.fsrequests.com/tapeats
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    AMATEUR ATHLETIC UNION OF THE US
    11522 SAGEWILLOW LN
    HOUSTON,TX77089     		N/A 509a1 Club South Volleyball Division 8,000
    BAYOU PRESERVATION ASSOCIATION INC
    PO BOX 131563
    HOUSTON,TX77219     		N/A 509a2 Bayou Restoration and Advocacy Program 5,000
    BOS PLACE
    10050 BUFF SPDWY
    HOUSTON,TX77054     		N/A 509a1 General Unrestricted 10,000
    BRIARWOOD-BROOKWOOD INC
    1752 FM 1489 RD
    BROOKSHIRE,TX77423     		N/A 509a1 Brookwood Horticulture Program 5,000
    BRIGHTER DAYS HORSE REFUGE INC
    682 KRAUSE RD
    PIPE CREEK,TX78063     		N/A 509a1 General Unrestricted 5,000
    CAMP ARANZAZU INC
    5420 FM 1781
    ROCKPORT,TX78382     		N/A 509a1 General Unrestricted 5,000
    CAMP FOR ALL FOUNDATION
    10500 NW FWY STE 220
    HOUSTON,TX77092     		N/A 509a1 Care of Spot 5,000
    CAREER GEAR HOUSTON
    750 SHARPSTOWN CTR
    HOUSTON,TX77036     		N/A 509a1 General Unrestricted 2,500
    CASA DE ESPERANZA DE LOS NINOS INC
    PO BOX 66581
    HOUSTON,TX77266     		N/A 509a1 Residential Program 5,000
    CHILDHOOD CANCER FAMILY ALLIANCE INC
    8323 SW FWY STE 435
    HOUSTON,TX77074     		N/A 509a1 Parent Consultant Program 5,000
    CHINQUAPIN PREPARATORY SCHOOL
    2615 E WALLISVILLE RD
    HIGHLANDS,TX77562     		N/A 509a1 Celebration of Reading 10,000
    COLLABORATIVE FOR CHILDREN
    1111 N LOOP W STE 600
    HOUSTON,TX77008     		N/A 509a2 General Unrestricted 10,000
    CORNELL UNIVERSITY
    130 E SENECA ST STE 400
    ITHACA,NY14850     		N/A 509a1 Cornell Conservation Medicine Program 25,000
    CRISTO REY JESUIT HIGH SCHOOL OF HOUSTON INC
    6700 MOUNT CARMEL ST
    HOUSTON,TX77087     		N/A 509a1 General Unrestricted 10,000
    DEFY VENTURES INC
    5 PENN PLZ 19TH FLR
    NEW YORK,NY10001     		N/A 509a1 Entrepreneurship Training Program 5,000
    DRESS FOR SUCCESS HOUSTON
    3310 EASTSIDE ST
    HOUSTON,TX77098     		N/A 509a1 Thumbs Up Program 5,000
    FRIENDS OF MANDELL PARK
    PO BOX 66551
    HOUSTON,TX77266     		N/A 509a1 Planting for the Future Campaign 2,500
    GEORGETOWN PROJECT
    PO BOX 957
    GEORGETOWN,TX78627     		N/A 509a1 General Unrestricted 8,000
    HEIFER INTERNATIONAL FOUNDATION
    1 WORLD AVE
    LITTLE ROCK,AR72202     		N/A 509a1 General Unrestricted 8,000
    HOUSTON ACHIEVEMENT PLACE
    245 W 17TH ST
    HOUSTON,TX77008     		N/A 509a1 Project CLASS 5,000
    HOUSTON ARBORETUM & NATURE CENTER
    4501 WOODWAY DR
    HOUSTON,TX77024     		N/A 509a1 Operational Grant to Continue Efforts in Education and Conservation 5,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A 509a1 General Unrestricted 10,000
    HOUSTON HABITAT FOR HUMANITY INC
    3750 N MCCARTY ST
    HOUSTON,TX77029     		N/A 509a1 25 for 25 Program 15,000
    HOUSTON PARKS BOARD
    300 N POST OAK LN
    HOUSTON,TX77024     		N/A 509a1 General Unrestricted 5,000
    HOUSTON WILDERNESS INC
    550 WESTCOTT ST STE 305
    HOUSTON,TX77007     		N/A 509a1 General Unrestricted 5,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A 509a2 Call of the Wild Lecture Series 20,000
    JUSTIN J WATT FOUNDATION
    PO BOX 530
    PEWAUKEE,WI53072     		N/A 509a1 Houston Division 5,000
    KIPP INC
    10711 KIPP WAY
    HOUSTON,TX77099     		N/A 509a1 General Unrestricted 15,000
    MEDICAL BRIDGES INC
    PO BOX 300245
    HOUSTON,TX77230     		N/A 509a1 General Unrestricted 10,000
    MGVP INC
    DRUID HILL PARK
    BALTIMORE,MD21217     		N/A 509a1 Gorilla Doctors Division 20,000
    MONTANA LAND RELIANCE
    PO BOX 355
    HELENA,MT59624     		N/A 509a1 Land Protection Fund 5,000
    NATIONAL ARBOR DAY FOUNDATION
    211 N 12TH ST STE 501
    LINCOLN,NE68508     		N/A 509a1 Lost Pines Forest Recovery Campaign 10,000
    NATIONAL WILDLIFE FEDERATION
    11100 WILDFIRE CENTER DR
    RESTON,VA20190     		N/A 509a2 Wildlife Conflict Resolution Program 25,000
    OPEN DOOR MISSION FOUNDATION
    PO BOX 9356
    HOUSTON,TX77261     		N/A 509a1 GED Program 5,000
    PATHWAYS FOR LITTLE FEET
    8 GREENWAY PLZ STE 1000
    HOUSTON,TX77046     		N/A 509a1 Perpetual Family Fund 5,000
    PERIWINKLE FOUNDATION
    3400 BISSONNET ST STE 185
    HOUSTON,TX77005     		N/A 509a1 Camp Periwinkle Program 2,500
    POSITIVE COACHING ALLIANCE
    1001 N RENGSTORFF AVE STE 100
    MOUNTAIN VIEW,CA94043     		N/A 509a1 General Unrestricted 5,000
    PRISON ENTREPRENEURSHIP PROGRAM
    4140 DIRECTORS ROW STE B
    HOUSTON,TX77092     		N/A 509a1 General Unrestricted 15,000
    PRO-VISION INC
    4590 WILMINGTON ST
    HOUSTON,TX77051     		N/A 509a1 Project 180 5,000
    RANCH HANDS RESCUE
    8827 HWY 377
    ARGYLE,TX76226     		N/A 509a1 General Operations and Farm Management Program 10,000
    SMALL STEPS NURTURING CENTER
    1709 DEPELCHIN ST
    HOUSTON,TX77007     		N/A 509a1 Small Steps Nutrition Program 10,000
    SPARK
    PO BOX 1562
    HOUSTON,TX77251     		N/A 509a1 Park Construction Program 2,500
    SPAY-NEUTER ASSISTANCE PROGRAM INC
    PO BOX 70286
    HOUSTON,TX77270     		N/A 509a1 Mobile Spay/Neuter Clinic Program 10,000
    ST JOHNS SCHOOL
    2401 CLAREMONT LN
    HOUSTON,TX77019     		N/A 509a1 Breakthrough Houston Program 10,000
    STUDENT CONSERVATION ASSOCIATION INC
    PO BOX 550
    CHARLESTOWN,NH03603     		N/A 509a1 Youth Development and Conservation Program 5,000
    SUNSHINE KIDS FOUNDATION
    2814 VIRGINIA ST
    HOUSTON,TX77098     		N/A 509a1 Sunshine Kids Teen Lake Escape Program 2,500
    TEACH FOR AMERICA HOUSTON
    4669 SW FREEWAY STE 600
    HOUSTON,TX77027     		N/A 509a1 General Unrestricted 20,000
    TEAM RUBICON
    1030 W HILLCREST BLVD
    INGLEWOOD,CA90301     		N/A 509a1 General Unrestricted 5,000
    TEXAS EQUUSEARCH
    PO BOX 395
    DICKINSON,TX77539     		N/A 509a1 General Unrestricted 8,000
    THE MONARCH SCHOOL INC
    2815 ROSEFIELD DR
    HOUSTON,TX77080     		N/A 509a1 Scholarship Assistance Program 5,000
    TREES FOR HOUSTON
    PO BOX 270477
    HOUSTON,TX77277     		N/A 509a2 General Unrestricted 10,000
    W OSCAR NEUHAUS MEMORIAL FOUNDATION
    4433 BISSONNET ST
    BELLAIRE,TX77401     		N/A 509a1 Comprehensive Literacy of Houston Corps Members and Alumni of the Teach for America 10,000
    WILD SKIES RAPTOR CENTER
    PO BOX 3676
    MISSOULA,MT59806     		N/A 509a1 Construction and Building of an Eagle Flight Enclosure 7,500
    WILDLIFE CONSERVATION NETWORK INC
    25745 BASSETT LN
    LOS ALTOS HLS,CA94022     		N/A 509a1 Conserv. of Painted Dog, Cheetah, Ethiopian Wolf, Snow Leopard, Andean Small Cat, and Niassa Lion 77,500
    WILLOWRIDGE HIGH SCHOOL
    16301 CHIMNEY ROCK
    HOUSTON,TX77053     		N/A 509a1 Activity Fund 5,000
    YELLOWSTONE ACADEMY INC
    3000 TRULLEY ST
    HOUSTON,TX77004     		N/A 509a1 General Unrestricted 5,000
    YELLOWSTONE PARK FOUNDATION INC
    222 E MAIN ST STE 301
    BOZEMAN,MT59715     		N/A 509a1 Annual Fund 20,000
    YELLOWSTONE PARK FOUNDATION INC
    222 E MAIN ST STE 301
    BOZEMAN,MT59715     		N/A 509a1 Yellowstone Wolf Education Project 20,000
    YES PREP PUBLIC SCHOOLS INC
    6201 BONHOMME RD STE 168N
    HOUSTON,TX77036     		N/A 509a1 3rd Installment of Pledge 25,000
    Total .................................bullet 3a 599,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments          
    4 Dividends and interest from securities....     14 218,240  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory     18 335,095  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aK-1 Inc/Loss     14 75,575  
    bFederal Tax Refund     01 1  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   628,911  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13628,911
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2012)
    Form 990-PF (2012)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation 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 noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I 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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2012)
    Additional Data


    Software ID: 12000057
    Software Version: 12.19.1011.1
    Part VI Line 7 - Tax Paid Original Return: 11400


    Form 990PF - Special Condition Description:
    Special Condition Description

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2012 GainLossSaleOtherAssetsSch
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    Publicly-traded Securities         1,936,479 1,790,988     145,491  
    Passthrough K1 Capital Gain                 189,604  

    TY 2012 GeneralExplanationAttachment
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Identifier Return Reference Explanation

    TY 2012 InvestmentsCorpBondsSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BERKSHIRE HATHAWAY FIN CORP - 5.400 - 05/15/2018 159,585 180,443
    BP CAP MKTS - 5.250 - 11/07/2013 162,911 156,091
    CATERPILLAR INC NT - 5.700 - 08/15/2016 103,836 116,010
    CONOCOPHILLIPS GTD - 4.600 - 01/15/2015 167,166 162,035
    DU PONT E I DE NEMOURS - 6.000 - 07/15/2018 179,025 185,120
    EI DU PONT DE NUMOUR BONDS - 05.000 - 07/15/2013 103,360 102,480
    GOLDMAN SACHS GRP INC - 5.125 - 01/15/2015 106,896 112,810
    MERRILL LYNCH CO NOTES - 5.000 - 01/15/2015 47,437 53,415
    ORACLE CORP - 5.250 - 01/15/2016 98,705 113,161
    PEPSICO INC SR NT - 4.650 - 02/15/2013 107,223 100,486
    PFIZER INC - 4.500 - 02/15/2014 159,983 156,774
    UNITED TECHNLGS CORP BOND 05.37500 12/15/2017 CALL MAKE WHOLE 158,854 178,292
    UPS - 4.500 - 01/15/2013 100,819 100,143
    WELLS FARGO COMPANY BOND 05.62500 12/11/2017 97,945 119,270

    TY 2012 InvestmentsCorpStockSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Name of Stock End of Year Book Value End of Year Fair Market Value
    605 shares of AETNA INC 19,946 28,018
    78 shares of ALLIANCE DATA SYSTEM CORP 4,402 11,291
    375 shares of ANADARKO PETROLEUM CORP 23,994 27,866
    243 shares of APACHE CORPORATION 21,192 19,076
    103 shares of APPLE INC. 37,138 54,814
    485 shares of AUTOMATIC DATA PROCESSING INC. 16,395 27,611
    325 shares of B M C SOFTWARE 15,081 12,877
    1043 shares of BANK OF AMERICA CORP 10,080 12,109
    63 shares of BLACKROCK INC 10,182 13,023
    346 shares of CHECK POINT SOFTWARE TECHNOLOGIES LTD 15,725 16,483
    1295 shares of CISCO SYSTEMS INC 23,868 25,445
    505 shares of CITIGROUP INC 22,336 19,978
    190 shares of CME GROUP, INC 10,158 9,627
    574 shares of COMCAST CORP CL A 9,971 21,445
    380 shares of COVIDIEN LTD 17,757 21,941
    505 shares of CROWN HOLDINGS INC 17,547 18,589
    375 shares of CVS CAREMARK CORP 14,669 18,131
    440 shares of DANAHER CORP 16,458 24,596
    29463 shares of DREYFUS PREMIER EMERGING MARKETS DEBT LOCAL CURREN 406,275 451,965
    710 shares of EMC CORP-MASS 17,070 17,963
    20086 shares of EPOCH GLOBAL EQUITY SHAREHOLDER YIELD FUND CLASS I 306,860 327,204
    178 shares of EQT CORPORATION 5,111 10,498
    562 shares of EXPRESS SCRIPTS HOLDING CO. 22,038 30,348
    332 shares of FIDELITY NATIONAL INFORMATION SERVICES INC 8,509 11,557
    277 shares of FISERV INC 11,116 21,891
    1050 shares of FORD MOTOR COMPANY 15,163 13,598
    159326 shares of FRANKLIN HIGH INCOME FUND ADVISOR CLASS 318,856 332,991
    430 shares of FREEPORT-MCMORAN COPPER GOLD INC. 14,952 14,706
    1470 shares of GENERAL ELECTRIC CO 42,726 30,855
    43 shares of GOOGLE INC CL A 23,895 30,417
    490 shares of H.J. HEINZ COMPANY 18,467 28,263
    255 shares of JOHNSON JOHNSON 17,378 17,876
    635 shares of JP MORGAN CHASE CO 21,472 27,920
    595 shares of KINDER MORGAN INC 19,944 21,021
    18666 shares of MATTHEWS PACIFIC TIGER FUND I 296,144 455,639
    280 shares of MCDONALDS CORP 21,814 24,699
    513 shares of MERCK CO INC. 14,203 21,002
    1045 shares of MICROSOFT CORPORATION 26,391 27,912
    290 shares of NETAPP, INC. 10,818 9,730
    210 shares of NIKE INC-CL B 4,215 10,836
    1040 shares of ORACLE CORP 15,693 34,653
    237 shares of PEPSICO INC 15,149 16,218
    362 shares of PG E CORP 15,201 14,545
    61219 shares of PIMCO COMMODITY REAL RETURN STRATEGY FUND 444,285 406,497
    39587 shares of POLEN GROWTH FUND INSTITUTIONAL CLASS 492,238 532,447
    250 shares of PRAXAIR INC. 16,335 27,363
    776 shares of QEP RESOURCES INC 21,006 23,490
    730 shares of REPUBLIC SVCS INC. 20,195 21,411
    510 shares of SPECTRA ENERGY CORP 11,968 13,964
    320 shares of STRYKER CORPORATION 15,369 17,542
    453 shares of TARGET CORPORATION 23,739 26,804
    254 shares of TJX COMPANIES INC 6,214 10,782
    75 shares of UNION PACIFIC 8,295 9,429
    325 shares of UNITED TECHNOLOGIES CORP 17,948 26,653
    490 shares of UNITEDHEALTH GROUP INC. 10,989 26,578
    350 shares of US BANCORP DEL 11,667 11,179
    118 shares of V F CORP 10,179 17,814
    29268 shares of VIRTUS EMERGING MARKETS OPPTS CL I 300,000 301,756
    100 shares of VISA INC 7,307 15,158
    570 shares of WALGREEN CO 17,505 21,096
    859 shares of WELLS FARGO CO. 22,943 29,361
    1070 shares of WILLIAMS COS 24,692 35,032
    26317 shares of YACKTMAN FOCUSED FUND 499,620 540,015

    TY 2012 InvestmentsOtherSchedule2
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    COUGAR INVESTMENT FUND LLC.   140,358 169,601
    LIGHTHOUSE DIVERSIFIED FD LTD   750,000 807,401
    MBA INVESTMENT FUND, LLC GROWTH   2,117,618 2,545,792
    MBA INVESTMENT FUND, LLC VALUE   687,041 746,994
    MBA INVESTMENTS, LLC ENDOWMENT   33,698 34,473
    PRISMA SPECTRUM FUND LTD.   500,000 498,460

    TY 2012 LegalFeesSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    General Governance Matters and Counseling 1,731     1,731


    TY 2012 OtherExpensesSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 60,456     60,456
    Bank Charges 2 2    
    Foundation Dues Memberships 2,695     2,695
    K-1 Exp COUGAR INVESTMENT FUND LLC. 1,284 1,284    
    K-1 Exp MBA INVESTMENT FUND, LLC GROWTH 28,167 28,167    
    K-1 Exp MBA INVESTMENT FUND, LLC VALUE 8,099 8,099    
    K-1 Exp MBA INVESTMENTS, LLC ENDOWMENT 382 382    
    Premium Payment for Indemnification Insurance 3,160     3,160


    TY 2012 OtherIncomeSchedule2
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss COUGAR INVESTMENT FUND LLC. 4,296 4,296  
    K-1 Inc/Loss MBA INVESTMENT FUND, LLC GROWTH 51,492 51,492  
    K-1 Inc/Loss MBA INVESTMENT FUND, LLC VALUE 18,865 18,865  
    K-1 Inc/Loss MBA INVESTMENTS, LLC ENDOWMENT 922 922  
    2010 Federal Tax Refund 1    


    TY 2012 OtherProfessionalFeesSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 38,486 38,486    
    Professional Management Services 26,234     26,234


    TY 2012 TaxesSchedule
    Name:
    The Tapeats Fund
    EIN: 76-0412011
    Software ID:12000057
    Software Version:12.19.1011.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Estimated Tax for 2012 11,400      
    Excise Tax for 2011 525      
    IRS Excise Tax Payment with 1st ext 990-PF 9,774      
    IRS Excise Tax Payment with 2nd ext 990-PF 2,769