Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2013
Open to Public Inspection
For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013
Name of foundation
THE WALSH FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)500 WEST 7TH STREETROOM/SUITE 1007Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FORT WORTH, TX761024732
A Employer identification number

75-6021726
B Telephone number (see instructions)

(817) 335-3741
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E 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$18,028,832J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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) 1,007,564
2 Check bullet
3 Interest on savings and temporary cash investments 2,107 2,107  
4 Dividends and interest from securities...... 183,494 183,494  
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 418,617
b Gross sales price for all assets on line 6a 4,015,905
7 Capital gain net income (from Part IV, line 2)...  
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 115,323 115,323  
12 Total. Add lines 1 through 11........ 1,727,105 300,924  
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).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 15,353 15,353    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 59,050 59,050    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 74,403 74,403   0
25 Contributions, gifts, grants paid........ 4,608,750 9,217,500
26 Total expenses and disbursements. Add lines 24 and 25 4,683,153 74,403   9,217,500
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,956,048
b Net investment income (if negative, enter -0-) 226,521
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2013)
Form 990-PF (2013)
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.......... 10,244,645 6,929,649 6,929,649
3 Accounts receivable bullet3,984
Less: allowance for doubtful accounts bullet   69,455 3,984 3,984
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 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)      
b Investments—corporate stock (attach schedule)........ 4,373,910 Click to see attachment4,493,198 7,808,846
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 2,724,786 Click to see attachment3,022,149 3,286,353
14 Land, buildings, and equipment: basis bullet4,627
Less: accumulated depreciation (attach schedule) bullet4,627      
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 17,412,796 14,448,980 18,028,832
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 17,412,796 14,448,980
30 Total net assets or fund balances (see page 17 of the
instructions).................... 17,412,796 14,448,980
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 17,412,796 14,448,980
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 17,412,796
2 Enter amount from Part I, line 27a..................... 2 -2,956,048
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 14,456,748
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 7,768
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 14,448,980
Form 990-PF (2013)
Form 990-PF (2013)
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.)
1a
b
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
b
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
b
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  
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))
2012 1,689,603 18,777,193 0.089982
2011 1,026,123 19,108,799 0.053699
2010 1,636,400 15,288,057 0.107038
2009 1,735,500 15,117,720 0.114799
2008 1,442,807 15,006,264 0.096147
2 Total of line 1, column (d) ...................... 2 0.461665
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 0.092333
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 15,691,925
5 Multiply line 4 by line 3....................... 5 1,448,883
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,265
7 Add lines 5 and 6......................... 7 1,451,148
8 Enter qualifying distributions from Part XII, line 4.............. 8 9,217,500
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 (2013)
Form 990-PF (2013)
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 2,265
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 2,265
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 2,265
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 2,400
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.............. 7 2,400
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 22
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 10 113
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet113 RefundedBullet 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)
    bulletTX
    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 2013 or the taxable year beginning in 2013 (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 addressbulletN/A
    14
    The books are in care ofbulletG MALCOLM LOUDEN Telephone no.bullet (817) 335-3741
    Located atbullet500 W 7TH STFORT WORTHTX ZIP+4bullet761024732
    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 2013, did the foundation have an interest in or a signature or other authority over YesNo
    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 (2013)
    Form 990-PF (2013)
    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
     
     
    .........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 2013?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2013, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2013?...............
    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 2013 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 2013.)....................
    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 2013?
    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 (2013)
    Form 990-PF (2013)
    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
    G MALCOLM LOUDENClick to see attachment PRESIDENT
    2.00     		0 0 0
    500 W 7TH STREET
    FORT WORTH,TX76102
    F HOWARD WALSH JRClick to see attachment ASST SEC/TR
    2.00     		0 0 0
    500 W 7TH STREET
    FORT WORTH,TX76102
    GARY GOBLEClick to see attachment SECRETARY/TR
    2.00     		0 0 0
    500 W 7TH STREET
    FORT WORTH,TX76102
    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
    NONE
    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
    NONE
    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 (2013)
    Form 990-PF (2013)
    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 N/A  
    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
     
    b
    Average of monthly cash balances.......................
    1b
     
    c
    Fair market value of all other assets (see instructions)................
    1c
     
    d
    Total (add lines 1a, b, and c).........................
    1d
     
    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
     
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
     
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
     
    6
    Minimum investment return. Enter 5% of line 5..................
    6
     
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    784,596
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    2,265
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,265
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    782,331
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    782,331
    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
    782,331
    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 ..........
    1a
     
    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
     
    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
     
    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 (2013)
    Form 990-PF (2013)
    Page 8
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2012     		(c)
    2012     		(d)
    2013
    1 Distributable amount for 2013 from Part XI, line 7 782,331
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2013:
    a From 2008....... 708,706
    b From 2009....... 988,101
    c From 2010....... 886,337
    d From 2011....... 81,176
    e From 2012....... 755,377
    fTotal of lines 3a through e......... 3,419,697
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 9,217,500
    a Applied to 2012, but not more than line 2a  
    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 2013 distributable amount..... 782,331
    e Remaining amount distributed out of corpus 8,435,169
    5 Excess distributions carryover applied to 2013.    
    (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 11,854,866
    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 2012. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2013. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2014 ..........     		0
    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 2008 not
    applied on line 5 or line 7 (see instructions) ...     		708,706
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		11,146,160
    10 Analysis of line 9:
    a Excess from 2009.... 988,101
    b Excess from 2010.... 886,337
    c Excess from 2011.... 81,176
    d Excess from 2012.... 755,377
    e Excess from 2013.... 8,435,169
    Form 990-PF (2013)
    Form 990-PF (2013)
    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 2013, 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) 2013 (b) 2012 (c) 2011 (d) 2010
             
    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).)
    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 address of the person to whom applications should be addressed:
    G MALCOLM LAUDEN
    500 W 7TH STREET
    FORT WORTH,TX76102
    (817) 335-3741
    bThe form in which applications should be submitted and information and materials they should include:
    WRITTEN REQUEST OUTLINING THE USE OF FUNDS
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDS MUST BE FOR AND ARE RESTRICTED TO: EDUCATION, HEALTH, PERFORMING ARTS & GENERAL WELFARE
    Form 990-PF (2013)
    Form 990-PF (2013)
    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
    TEXAS CHRISTIAN UNIVERSIT
    2800 S UNIVERSITY DR
    FORT WORTH,TX76102     		501(C)3   SEE ATTACHED NOTE SCHEDULE 3,523,000
    COOK CHILDREN'S MEDICAL
    6501 N BEACH ST
    FORT WORTH,TX76137     		501(C)3   " 110,000
    MISC CHARITIES - SEE ATTACHMENT
    500 W 7TH STREET
    FORT WORTH,TX76102     		501(C)3   " 975,750
    Total .................................bullet 3a 4,608,750
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2013)
    Form 990-PF (2013)
    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....          
    3
    Interest on savings and temporary cash investments ............     		    14 2,107  
    4 Dividends and interest from securities....     14 183,494  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....     15 115,323  
    8
    Gain or (loss) from sales of assets other than inventory .............     		        418,617
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   300,924 418,617
    13Total. Add line 12, columns (b), (d), and (e)..................
    13719,541
    (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 (2013)
    Form 990-PF (2013)
    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 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    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 (2013)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2013 CompensationExplanation
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Person Name Explanation
    G MALCOLM LOUDEN  
    F HOWARD WALSH JR  
    GARY GOBLE  

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

    TY 2013 GainLossSaleOtherAssetsSch
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    3111 UNITS MFS EMERGING MKT 2012-10 PURCHASE 2013-02   50,000 50,373     -373  
    140 SHR ISHARES MSCI SO AFRICA 2010-03 PURCHASE 2013-02   9,150 7,913     1,237  
    367 SHR ISHARES MSCI MEXICO 2010-02 PURCHASE 2013-02   26,034 17,989     8,045  
    67 SHR ISHARES ASIA 2010-12 PURCHASE 2013-02   3,993 4,283     -290  
    9103 UNITS BLACKROCK FDS II 2012-10 PURCHASE 2013-03   99,500 95,457     4,043  
    1877 UNITS MFS EMERGING MKTS 2012-10 PURCHASE 2013-03   30,000 30,394     -394  
    12570 UNITS MFS EMERGING MKTS 2012-10 PURCHASE 2013-03   200,000 199,983     17  
    1862 UNITS MFS EMERGING MKTS 2011-12 PURCHASE 2013-05   30,000 27,039     2,961  
    800 SHR ISHARES SO KOREA 2013-03 PURCHASE 2013-05   45,416 46,751     -1,335  
    11300 SHR ISHARES JAPAN 2013-03 PURCHASE 2013-05   134,015 115,754     18,261  
    3650 SHR ISHARES AUSTRALIA 2010-02 PURCHASE 2013-06   90,814 77,161     13,653  
    23983 UNITS MFS EMERGING MKTS 2011-12 PURCHASE 2013-08   354,235 346,993     7,242  
    9746 UNITS PIMCO EMERGING 2010-03 PURCHASE 2013-08   98,929 95,025     3,904  
    25483 UNITS LAZARD EMERGING 2009-05 PURCHASE 2013-08   451,276 383,050     68,226  
    682 SHR ISHARES SO AFRICA 2010-03 PURCHASE 2013-09   39,829 38,434     1,395  
    23474 SHR WELLS FARGO ADV 2013-08 PURCHASE 2013-09   200,000 200,000        
    1087 UNITS COLUMBIA ACORN 2008-05 PURCHASE 2013-09   48,925 47,762     1,163  
    70312 UNITS WELLS FARGO ADV 2013-07 PURCHASE 2013-09   599,062 600,000     -938  
    1617 UNITS BLACKROCK FDS II 2012-01 PURCHASE 2013-09   18,749 16,953     1,796  
    36868 UNITS EATON VANCE PARAMETRIC 2010-02 PURCHASE 2013-09   544,921 453,289     91,632  
    1000 SHR ISHARES MSCI CANADA 2010-02 PURCHASE 2013-09   28,818 25,190     3,628  
    2000 SHR ISHARES MSCI SINAPORE 2013-03 PURCHASE 2013-10   26,862 27,478     -616  
    1775 SHR WISDOMTREE 2013-05 PURCHASE 2013-10   85,718 89,602     -3,884  
    1450 SHR ISHARES MSCI INDONESIA 2013-03 PURCHASE 2013-11   35,373 46,584     -11,211  
    ARTISAN INTL CGD 2013-01 PURCHASE 2013-11   3,642       3,642  
    ARTISAN INTL FD LTCG 2012-11 PURCHASE 2013-11   22,021       22,021  
    US TRUST COMMON STG 2013-01 PURCHASE 2013-12   372       372  
    US TRUST COMMON LTG 2012-01 PURCHASE 2013-12   13,511       13,511  
    4000 SHR AT&T 2010-01 PURCHASE 2013-12   140,686 101,509     39,177  
    1400 SHR AVON PROD 2006-07 PURCHASE 2013-11   24,984 44,949     -19,965  
    600 SHR AVON PROD 2011-05 PURCHASE 2013-11   10,707 18,098     -7,391  
    1500 SHR CH ROBINSON 2009-12 PURCHASE 2013-05   85,504 85,495     9  
    3500 SHR KROGER 2010-10 PURCHASE 2013-03   107,945 77,428     30,517  
    312 SHR MALLINCKRODT 2010-11 PURCHASE 2013-12   16,287 8,830     7,457  
    4000 SHR MASCO 2000-02 PURCHASE 2013-09   89,170 80,397     8,773  
    2800 SHR ROBERT HALF 2010-06 PURCHASE 2013-04   92,626 68,836     23,790  
    4200 SHR WESTERN UNION 2010-06 PURCHASE 2013-11   69,938 68,289     1,649  
    LK COMMON LTCG 2012-01 PURCHASE 2013-12   86,893       86,893  

    TY 2013 InvestmentsCorpStockSchedule
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Name of Stock End of Year Book Value End of Year Fair Market Value
    4000 SHS AT&T    
    1300 SHS ABBVIE 29,104 68,653
    1300 SHS ABOTT LABS 26,838 49,829
    2500 SHS ADOBE SYS 85,544 149,698
    3000 SHS AKAMAI 141,430 141,540
    1600 SHS ANADARKO 68,904 126,912
    400 SHS APPLE 35,030 224,408
    2000 SHS AVON PROD    
    2900 SHS B BARNES 77,789 111,099
    8500 SHS CAPITOL FEDERAL 99,401 102,935
    3500 SHS CACOT OIL & GAS 135,323 135,660
    1600 SHS CELGENE 91,281 270,349
    1500 SHS CH ROBINSON    
    3000 SHS COCA-COLA 68,111 123,930
    2000 SHS COLGATE PALMOLIVE 25,875 130,420
    2500 SHS COVIDIEN 91,940 170,250
    2300 SHS CVS 88,090 164,611
    1600 SHS DANAHER CORP 85,553 123,520
    2400 SHS DENTSPLY 69,380 116,352
    3100 SHS EMC CORP 84,844 77,965
    1000 SHS EXXON MOBIL CORP 24,089 101,200
    3900 SHS GENERAL ELECTRIC 92,105 109,317
    6700 SHS GLACIER BANKCORP 94,564 199,593
    5100 SHS GULFPORT 106,771 321,963
    1900 HCC INS 49,392 87,666
    1500 SHS HOME DEPOT 28,182 123,510
    1848 SHS JPMORGAN CHASE & CO. 56,395 108,071
    1500 SHS KIMBERLY CLARK 78,876 156,690
    3500 SHS KROGER    
    2100 SHS KOHLS 98,290 119,175
    2100 SHS KRAFT FOODS 95,448 113,211
    LKCM SMALL CAP EQUITY FUND 760,793 1,147,735
    3100 SHS MERCK 137,317 155,155
    4000 SHS MONDELEZ 110,695 141,200
    3000 SHS METLIFE 113,259 161,760
    2000 SHS NOBLE 37,451 74,940
    2900 SHS NETAPP INC 115,819 119,306
    2000 SHS PEPSICO 66,000 165,880
    1000 SHS PETSMART 27,208 72,750
    4800 SHS PFIZER 82,374 147,024
    1462 SHS PROCTER & GAMBLE 53,570 119,021
    2400 SHS RANGE RES 60,045 202,344
    2800 SHS ROBERT HALF    
    1200 SHS SCHLUMBERGER LTD - SPINOFF 31,650 108,132
    1300 SHS SM ENERGY 53,545 108,043
    1800 SHS TIFFANY 101,408 167,004
    2200 SHS THERMO FISHER 71,021 244,970
    3500 SHS TRIMBLE NAV 121,207 121,450
    2000 SHS VERIZON 74,020 98,280
    468 SHS AMBASE CORP 8,600 8,600
    110 SHS EXELON 3,370 3,370
    2000 SHS DIPLOMAT ELECTRONICS 12,000 1,200
    4000 SHS HALLIBURTON CO 70,717 70,717
    200 SHS HIGHLAND INSURANCE 3,402 3,402
    1200 SHS WHIRLPOOL 92,046 188,232
    4200 SHS WESTERN UNION    
    3200 SHS WILLIAMS CO 56,496 123,424
    5500 SHS ZIONS 113,425 164,780
    4000 SHS MASCO CORP    
    4000 SHS US BANCORP 87,211 161,600

    TY 2013 InvestmentsOtherSchedule2
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    WALSH HOLDINGS, LTD AT COST 114,468 114,468
    MINERAL INTERESTS AT COST 10 10
    COLUMBIA FUNDS AT COST 235,353 305,942
    PIMCO FUNDS AT COST    
    EATON VANCE FUND AT COST    
    ISHARES PACIFIC JAPAN AT COST 83,078 89,254
    LAZARD FUND AT COST    
    COLUMBIA GOV RESERVES AT COST 178,997 178,997
    MFS EMERGING MKT DRBT FD AT COST    
    ISHARES AUSTRALIA AT COST    
    ISHARES S&P LATIN AMER AT COST 45,448 44,448
    ISHARES MSCI MEXICO AT COST 73,139 85,000
    ISHARES MSCI SO AFRICA AT COST    
    ISHARES MSCI ASIA AT COST 95,867 94,566
    ISHARES MSCI CANADA AT COST 75,570 87,480
    ISHARES MSCI EMERG VOLETF AT COST 457,940 460,254
    ARTISIAN INT'L FUND AT COST 404,940 472,853
    ARTISIAN INT'L VALUE FD AT COST 416,600 438,598
    BLACKROCK AT COST    
    DELAWARE EMERGING AT COST 211,210 245,982
    JAPAN HEDGE AT COST 98,041 102,951
    ISHARES MSCI GERMANY AT COST 88,552 106,396
    ISHARES MSCI SINGAPORE AT COST 88,729 88,898
    ISHARES MSCI TAIWAN AT COST 44,453 44,702
    ISHARES S&P EUROPE AT COST 89,754 97,273
    COLUMBIA EMERGING MKT FD AT COST 220,000 228,281

    TY 2013 LandEtcSchedule2
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE EQUIPMENT 4,627 4,627    


    TY 2013 OtherAssetsSchedule
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PREPAID TAXES      


    TY 2013 OtherDecreasesSchedule
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Description Amount
    BOOK/TAX DIFF - FIT PRIOR 7,768


    TY 2013 OtherExpensesSchedule
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    ADMINISTRATIVE EXPENSE 36,276 36,276    
    US TRUST BANK FEES 19,681 19,681    
    WALSH K-1 142 142    
    WAKSH K-1 ORD 2,951 2,951    


    TY 2013 OtherIncomeSchedule2
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OIL & GAS ROYALTIES 115,323 115,323  


    TY 2013 TaxesSchedule
    Name:
    THE WALSH FOUNDATION
    EIN: 75-6021726
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PRODUCTION TAX 7,034 7,034    
    OTHER TAX 8,319 8,319