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
Charles P Ferro Foundation
 

Number and street (or P.O. box number if mail is not delivered to street address)c/o Bonnie Ferro 88 Sunset Cliff   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Burlington, VT05408
A Employer identification number

22-3253710
B Telephone number (see instructions)

(802) 660-2765
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$5,108,330J 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)  
2 Check bullet
3 Interest on savings and temporary cash investments 1,143 1,143  
4 Dividends and interest from securities...... 113,108 113,108  
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 210,222
b Gross sales price for all assets on line 6a 1,322,919
7 Capital gain net income (from Part IV, line 2)... 210,222
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).......      
12 Total. Add lines 1 through 11........ 324,473 324,473  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 59,500 12,550   46,950
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 17,000 8,500   8,500
c Other professional fees (attach schedule).... Click to see attachment 42,348 42,348    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 3,990     3,990
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 931 178   753
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 123,769 63,576   60,193
25 Contributions, gifts, grants paid........ 44,000 159,000
26 Total expenses and disbursements. Add lines 24 and 25 167,769 63,576   219,193
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 156,704
b Net investment income (if negative, enter -0-) 260,897
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.......... 174,763 104,801 104,801
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 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........... 1,120    
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 4,168,750 Click to see attachment4,449,083 4,449,083
c Investments—corporate bonds (attach schedule)........   Click to see attachment554,446 554,446
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............. 98,550    
13 Investments—other (attach schedule)...........      
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) 4,443,183 5,108,330 5,108,330
Liabilities 17 Accounts payable and accrued expenses.......... 1,400  
18 Grants payable................... 492,996 440,000
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).......... 494,396 440,000
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 3,948,787 4,668,330
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    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 3,948,787 4,668,330
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 4,443,183 5,108,330
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 3,948,787
2 Enter amount from Part I, line 27a..................... 2 156,704
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 624,843
4 Add lines 1, 2, and 3.......................... 4 4,730,334
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 62,004
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 4,668,330
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.)
1 a Publicly Traded Securities P 2012-12-31 2013-12-31
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 1,322,919 0 1,112,697 210,222
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 0 0 0 210,222
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 2 210,222
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 229,549 4,317,506 0.053167
2011 216,938 4,423,990 0.049037
2010 239,126 4,503,650 0.053096
2009 279,966 4,208,623 0.066522
2008 317,739 4,819,178 0.065932
2 Total of line 1, column (d) ...................... 2 0.287754
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 0.057551
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 4,673,651
5 Multiply line 4 by line 3....................... 5 268,973
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,609
7 Add lines 5 and 6......................... 7 271,582
8 Enter qualifying distributions from Part XII, line 4.............. 8 219,193
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 5,218
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 0
3 Add lines 1 and 2............................ 3 5,218
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 5,218
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 3,467
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c 5,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. : -8467 7 8,467
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,249
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet3,249 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)
    bulletNY
    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 ofbulletBONNIE FERRO Telephone no.bullet (802) 660-2765
    Located atbullet88 Sunset CliffBurlingtonVT ZIP+4bullet05408
    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
     
    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 2013?.............
    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 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
    BONNIE FERRO CO-EXECUTIVE DIRECTO
    3.00     		25,750 0 0
    88 Sunset Cliff
    Burlington,VT05408
    MARIANNE FERRO CO-EXECUTIVE DIRECTO
    1.00     		25,750 0 0
    c/o Bonnie Ferro 88 Sunset Cliff
    Burlington,VT05408
    VERA DOSKY Trustee
    1.50     		5,750 0 0
    c/o Bonnie Ferro 88 Sunset Cliff
    Burlington,VT05408
    EDWARD FRIEDHOFF Trustee
    0.10     		750 0 0
    c/o Bonnie Ferro 88 Sunset Cliff
    Burlington,VT05408
    JENNIFER FERRO LESSIEU Trustee
    0.10     		750 0 0
    c/o Bonnie Ferro 88 Sunset Cliff
    Burlington,VT05408
    MARC FERRO Trustee
    0.10     		750 0 0
    c/o Bonnie Ferro 88 Sunset Cliff
    Burlington,VT05408
    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 0
    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.............bullet0
    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  
    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
    233,683
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    5,218
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,218
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    228,465
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    228,465
    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
    228,465
    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 7 228,465
    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....... 79,302
    b From 2009....... 71,603
    c From 2010....... 15,222
    d From 2011.......  
    e From 2012....... 15,704
    fTotal of lines 3a through e......... 181,831
    4Qualifying distributions for 2013 from Part
    XII, line 4: bullet$ 219,193
    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..... 219,193
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2013. 9,272 9,272
    (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 5 172,559
    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) ...     		70,030
    9Excess distributions carryover to 2014.
    Subtract lines 7 and 8 from line 6a ......     		102,529
    10 Analysis of line 9:
    a Excess from 2009.... 71,603
    b Excess from 2010.... 15,222
    c Excess from 2011....  
    d Excess from 2012.... 15,704
    e Excess from 2013....  
    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).)
    NONE
    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.
    NONE
    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:
    BONNIE FERRO
    88 Sunset Cliff
    Burlington,VT05408
    (802) 660-2765
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER REQUEST STATING THE ORGANIZATION'S GOALS AND OBJECTIVES AND THE SPECIFIC PURPOSE OF THE GRANT WHICH IS SOUGHT
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    Marian C Bell Foundation for Parkinson's
    1702 Adams Avenue
    Dunmore,PA18509     		  PC OperatingSupport 2,500
    The Healing Hands Abroad Foundation
    2372 Victory Boulevard
    Staten Island,NY10314     		  PC OperatingSupport 2,500
    American Cancer Society
    250 Williams Street NW
    Atlanta,GA30303     		  PC OperatingSupport 1,000
    Cystic Fibrosis Foundation
    6931 Arlington Road
    Bethesda,MD20814     		  PC OperatingSupport 1,000
    Junior Woman's Club of Ramsey
    19 Lancaster Court
    Ramsey,NJ07446     		  PC OperatingSupport 3,000
    King Street Center
    87 King Street
    Burlington,VT05401     		  PC OperatingSupport 5,000
    Shelburne Farms
    1611 Harbor Road
    Shelburne,VT05482     		  PC OperatingSupport 2,500
    Burlington City Arts
    135 Church Street
    Burlington,VT05401     		  PC OperatingSupport 1,000
    New Image Youth Center
    212 South Parramore Avenue
    Orlando,FL32805     		  PC OperatingSupport 1,500
    Friends of Appalachia Inc
    35 Pilgrim Lane
    Trumbull,CT06611     		  PC OperatingSupport 4,000
    The Hole in the Wall Gang Camp
    565 Ashford Center Road
    Ashford,CT06278     		  PC OperatingSupport 1,000
    Nova Southeastern University
    3301 College Avenue
    Fort Lauderdale,FL33314     		  PC OperatingSupport 10,000
    City Green
    171 Grove Street
    Clifton,NJ07013     		  PC OperatingSupport 2,000
    One Bead Project
    30 High Street
    Hudson,OH44236     		  PC OperatingSupport 2,000
    Saint Cecilia School
    1186 Newfield Avenue
    Stamford,CT06905     		  PC OperatingSupport 5,000
    Total .................................bullet 3a 44,000
    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 1,143  
    4 Dividends and interest from securities....     14 113,108  
    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.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 210,222  
    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)..   324,473  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13324,473
    (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 AccountingFeesSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MGI Repetti LLP Accounting Services 17,000 8,500   8,500

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

    TY 2013 GainLossSaleOtherAssetsSch
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    Publicly Traded Securities   Purchased   UNRELATED THIRD PARTIES 1,322,919 1,112,697 Cost   210,222  

    TY 2013 InvestmentsCorpBondsSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Name of Bond End of Year Book Value End of Year Fair Market Value
    41,439.059sh Bernstein Intermediate Duration Portfolio 554,446 554,446

    TY 2013 InvestmentsCorpStockSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Name of Stock End of Year Book Value End of Year Fair Market Value
    825sh Apache Corporation 70,901 70,901
    2,000sh Coca Cola Common 82,620 82,620
    2,000sh Comcast Corporation 103,930 103,930
    1,150sh Devon Energy Corporation 71,150 71,150
    1,100sh Facebook Inc. 60,114 60,114
    2,000sh Microsoft Corporation 74,820 74,820
    2,426.791sh Blackrock HL SC Opp Fund 102,847 102,847
    6,4053.832sh Blackrock Long Horizon Equity Fund 92,949 92,949
    1,608.919sh Blackrock Global Allocation Fund 34,479 34,479
    3,010.626sh First Eagle US Value Fund 60,905 60,905
    4,492sh FT 3846 Richard Bernstein TCTCL SER 62,394 62,394
    6,533.988sh IVA Worldwide Fund 116,436 116,436
    3,804.596sh IVY Asset Strategy Fund 122,812 122,812
    3,840.950sh Neuberger Berman Long Short Fund 48,857 48,857
    8,258.932sh T Rowe Price Capital Appreciation Fund 211,924 211,924
    270sh Agricultural Bank of China Ltd ADR 3,329 3,329
    284sh Allianz SE-ADR 5,149 5,149
    296sh Asahi Kaisei Corp ADR 4,674 4,674
    346sh Aviva PLC Spons ADR 5,242 5,242
    187sh AXA-ADR 5,215 5,215
    323sh Barclays PLC ADR 5,856 5,856
    53sh BASF SE Spons ADR 5,713 5,713
    32sh Bayer AG Spons ADR 4,544 4,544
    281sh BG Group PLC Spons ADR 6,095 6,095
    64sh BHP Billiton Ltd Spons ADR 4,365 4,365
    127sh BNP Paribas ADR 4,978 4,978
    111sh BP PLC Spons ADR 5,396 5,396
    201sh China Railway Construction Corp ADR 2,010 2,010
    155sh CIA Saneamento Basico ADR 1,758 1,758
    18sh CNOOC Ltd ADR 3,378 3,378
    111sh Credit Suisse Group Spons ADR 3,445 3,445
    94sh DBS Group Holdings Spons ADR 5,101 5,101
    59sh Delhaize Group Spons ADR 3,506 3,506
    155sh Deutsche Lufthansa AG Spons ADR 3,315 3,315
    79sh Hannover Rueckversich SE 3,414 3,414
    61sh Hitachi Ltd ADR 4,661 4,661
    148sh Honda Motor Ltd 6,120 6,120
    108sh HSBC Holdings PLC Spons ADR 5,954 5,954
    359sh ING Groep NV Spons ADR 5,030 5,030
    181sh KDDI Corp Unspons ADR 2,795 2,795
    449sh Lonza Group AG Unspons ADR 4,243 4,243
    31sh Marubeni Corp ADR 2,257 2,257
    355sh MEDA AB Unspons ADR 4,540 4,540
    90sh Mitsubishi Corp ADR 3,450 3,450
    761sh Mitsubishi UFJ Financial ADR 5,083 5,083
    177sh MS&AD Insurance Group Holdings 2,372 2,372
    170sh National Australia Bank Ltd Spons ADR 5,279 5,279
    63sh Novartis AG Spons ADR 5,064 5,064
    160sh Petroleo Brasileiro Spons ADR 2,205 2,205
    48sh Posco Spons ADR 3,744 3,744
    250sh PT Bank Rakyat Indonesia Unspons ADR 2,983 2,983
    116sh Reed Elsevier NV Spons ADR 4,950 4,950
    99sh Rio Tinto PLC Spons ADR 5,587 5,587
    81sh Roche Holdings Ltd ADR 5,686 5,686
    47sh Siemens AG ADR 6,510 6,510
    73sh Smith & Nephew PLC ADR 5,237 5,237
    407sh Societe Generale France Spons ADR 4,741 4,741
    141sh SSE PLC Spons ADR 3,209 3,209
    215sh Sumitomo Mitsui Financial ADR 2,255 2,255
    257sh Taiwan Semiconductor ADR 4,482 4,482
    65sh Telenor ASA 4,652 4,652
    440sh Tenaga Nasional Berhad Spons ADR 6,059 6,059
    169sh Toshiba Corporation ADR 4,294 4,294
    39sh Toyota Motors Corp ADR 4,755 4,755
    234sh UPM-Kymmene Corp Spons ADR 3,985 3,985
    80sh Volkswagen AG Spons ADR 4,376 4,376
    94sh Yara International ASA 4,035 4,035
    142sh Zurich Insurance Group ADR 4,142 4,142
    163sh Abbott Laboratories 6,248 6,248
    138sh Abbvie Inc 7,288 7,288
    44sh Ace Limited 4,555 4,555
    44sh Air Products & Chemicals Inc 4,918 4,918
    225sh Altria Group Inc 8,638 8,638
    65sh American Express Company 5,897 5,897
    30sh Apple Inc 16,831 16,831
    24sh ASML Holding NV 2,249 2,249
    65sh Automatic Data Processing 5,252 5,252
    23sh Blackrock Inc 7,279 7,279
    32sh Canadian Pacific Railway 4,842 4,842
    51sh Caterpillar Inc 4,631 4,631
    125sh Chevron Corporation 15,614 15,614
    465sh Coca Cola Company 19,209 19,209
    93sh Comcast Corporation 4,833 4,833
    158sh ConocoPhillips 11,163 11,163
    33sh Diageo PLC 4,370 4,370
    72sh Walt Disney Company 5,501 5,501
    14sh EOG Resources Inc 2,350 2,350
    219sh Exxon Mobil Corporation 22,163 22,163
    126sh Franklin Resources Inc 7,274 7,274
    129sh Freeport-McMoran Copper & Gold 4,868 4,868
    260sh General Electric Company 7,288 7,288
    102sh HSBC Holdings PLC 5,623 5,623
    176sh Intel Corporation 4,568 4,568
    57sh IBM 10,691 10,691
    7sh Intuitive Surgical Inc 2,689 2,689
    131sh Johnson & Johnson 11,998 11,998
    205sh JPMorgan Chase 11,988 11,988
    28sh Kraft Foods Group 1,509 1,509
    92sh Estee Lauder Companies 6,929 6,929
    111sh McDonalds Corporation 10,770 10,770
    89sh Merck & Company 4,454 4,454
    91sh Mondelez International 3,212 3,212
    165sh Nestle SA Reg ADR 12,142 12,142
    31sh News Corporation 559 559
    55sh Novartis AG Spons ADR 4,421 4,421
    31sh Novo Nordisk AS ADR 5,728 5,728
    112sh Occidental Petroleum 10,651 10,651
    128sh Oracle Corporation 4,897 4,897
    85sh Pepsico Incorporated 7,050 7,050
    221sh Philip Morris International 19,256 19,256
    31sh Phillips 66 2,391 2,391
    53sh Praxair Inc 6,892 6,892
    139sh Procter & Gamble Company 11,316 11,316
    76sh Qualcomm Inc 5,643 5,643
    107sh Roche Holdings 7,511 7,511
    133sh Royal Dutch Shell PLC ADR 9,479 9,479
    39sh Sabmiller PLC 2,000 2,000
    30sh State Street Corporation 2,202 2,202
    127sh Target Corporation 8,035 8,035
    177sh Texas Instruments Inc 7,772 7,772
    19sh Time Warner Cable 2,575 2,575
    160sh Total SA Spons ADR 9,803 9,803
    124sh Twenty-First Century 4,361 4,361
    87sh United Technologies Corporation 9,901 9,901
    92sh Wal-Mart Stores Inc 7,239 7,239
    82sh Walgreen Company 4,710 4,710
    95sh Wells Fargo Company 4,313 4,313
    43sh Xilinx Inc 1,976 1,976
    70sh Accenture PLC Ireland 5,755 5,755
    25sh Allegiant Travel Company 2,636 2,636
    44sh Amazon Company 17,547 17,547
    58sh American Express Company 5,262 5,262
    48sh Antero Resources Corporation 3,045 3,045
    46sh Apple Inc 25,807 25,807
    35sh B/E Aerospace Inc 3,046 3,046
    46sh Bed Bath & Beyond Inc 3,694 3,694
    10sh Biogen Idec Inc 2,796 2,796
    48sh Borg Warner Inc 2,684 2,684
    120sh Cameron International 7,144 7,144
    51sh Celgene Corporation 8,617 8,617
    243sh Cerner Corporation 13,545 13,545
    168sh Chicago Bridge & Iron 13,968 13,968
    168sh Citigroup Inc 4,950 4,950
    89sh Coca Cola Company 3,677 3,677
    40sh Connvault Systems Inc 2,994 2,994
    64sh Continental Resources Inc 7,201 7,201
    45sh Covance Inc 3,963 3,963
    41sh Cree Inc 2,563 2,563
    306sh DR Horton Inc 6,830 6,830
    71sh Deckers Outdoor Corp 5,997 5,997
    48sh Delphi Automotive PLC 2,886 2,886
    58sh DirecTV 4,005 4,005
    75sh Domino's Pizza Inc 5,224 5,224
    98sh Dover Corporation 9,461 9,461
    31sh Eastman Chemical Company 2,502 2,502
    171sh Eaton Corporation PLC 13,017 13,017
    150sh EBay Inc 8,230 8,230
    37sh EOG Resources Inc 6,210 6,210
    67sh EPL Oil & Gas Inc 1,910 1,910
    295sh Facebook Inc 16,121 16,121
    51sh First Republic Bank 2,670 2,670
    21sh Fleetcor Technologies Inc 2,461 2,461
    53sh Fleetmatics Group PLC 2,292 2,292
    56sh Fortune Brands Home & Security 2,559 2,559
    19sh Fossil Group Inc 2,279 2,279
    132sh Franklin Resources Inc 7,620 7,620
    154sh Gilead Sciences Inc 11,565 11,565
    24sh Google Inc 26,897 26,897
    75sh Home Depot Inc 6,176 6,176
    45sh Illumina Inc 4,977 4,977
    73sh Insulet Corporation 2,708 2,708
    40sh Jacobs Engineering Group 2,520 2,520
    36sh Jazz Pharmaceuticals PLC 4,556 4,556
    41sh JPMorgan Chase & Company 2,398 2,398
    20sh Kansas City Southern 2,477 2,477
    80sh Las Vegas Sands Corporation 6,310 6,310
    34sh Lear Corporation 2,753 2,753
    39sh LinkedIn Corporation 8,456 8,456
    216sh Lorillard Inc 10,947 10,947
    33sh Manpowergroup Inc 2,833 2,833
    14sh Mastercard Inc 11,696 11,696
    56sh Medidata Solutions Inc 3,388 3,388
    163sh Michael Kors Holdings Ltd 13,234 13,234
    29sh Mohawk Industries 4,318 4,318
    75sh Mondelez International 2,647 2,647
    75sh Mylan Inc 3,255 3,255
    43sh Nike Inc 3,382 3,382
    49sh Palo Alto Networks 2,816 2,816
    16sh Panera Bread Company 2,827 2,827
    40sh Philip Morris International 3,485 3,485
    23sh Polaris Industries Inc 3,350 3,350
    11sh Priceline Company 12,786 12,786
    35sh Proto Labs Inc 2,491 2,491
    20sh PVH Corporation 2,720 2,720
    38sh Qualcomm Inc 2,822 2,822
    26sh Regeneron Pharmaceutical Inc 7,156 7,156
    38sh Rockwell Automation Inc 4,490 4,490
    107sh Salesforce Company 5,905 5,905
    87sh Sandisk Corporation 6,137 6,137
    109sh Schlumberger Ltd 9,822 9,822
    50sh Servicenow Inc 2,801 2,801
    2,056sh Sirius XM Holdings 7,175 7,175
    60sh Spirit Airlines Inc 2,725 2,725
    40sh Splunk Inc 2,747 2,747
    64sh Starbucks Corporation 5,017 5,017
    42sh SVB Financial Group 4,404 4,404
    78sh T Rowe Price Group Inc 6,534 6,534
    290sh Taiwan Semiconductor 5,058 5,058
    77sh Toll Brothers 2,849 2,849
    28sh Tupperware Corporation 2,647 2,647
    71sh Ubiquiti Networks Inc 3,263 3,263
    29sh Union Pacific Corporation 4,872 4,872
    26sh United Technologies Corporation 2,959 2,959
    63sh Urban Outfitters Inc 2,337 2,337
    27sh VMWARE Inc 2,422 2,422
    113sh Wells Fargo Company 5,130 5,130
    19sh Whirlpool Corporation 2,980 2,980
    120sh Whitewave Foods Company 2,753 2,753
    90sh Williams Sonoma Inc 5,245 5,245
    31sh Workday Inc 2,578 2,578
    77sh Yahoo Inc 3,114 3,114
    8sh Ascent Capital Group 684 684
    73sh Autonation Inc 3,627 3,627
    13sh Berkshire Hathaway Inc 1,541 1,541
    23sh Blackstone Group LP 725 725
    132sh Brookfield Asset Management 5,126 5,126
    5sh Brookfield Properties LP 100 100
    44sh Brookfield Residential Properties Inc 1,064 1,064
    31sh Burger King Worldwide Inc 709 709
    32sh Calloway Real Estate Investments 757 757
    16sh Canadian Oil Sands Ltd 301 301
    110sh CBOE Holdings Inc 5,716 5,716
    48sh Colfax Corporation 3,057 3,057
    7sh Continental Resources Inc 788 788
    13sh Crimson Wine Group Ltd 115 115
    98sh CSX Corporation 2,819 2,819
    63sh Dish Network Corporation 3,649 3,649
    273sh Dream Unlimited Corporation 4,333 4,333
    164sh Dreamworks Animation SKG 5,822 5,822
    167sh Dundee Corporation 2,944 2,944
    32sh Echostar Holding Corporation 1,591 1,591
    15sh Equity Lifestyle Properties 543 543
    1sh Fairfax Financial Holdings Ltd 400 400
    90sh Forest City Enterprises 1,719 1,719
    14sh Franco-Nevada Corporation 570 570
    54sh General Growth Properties Inc 1,084 1,084
    1sh Google Inc 1,121 1,121
    8sh Greenlight Capital Real Estate Ltd 270 270
    205sh Hellenic Exchanges Athens 2,023 2,023
    90sh Howard Hughes Corporation 10,809 10,809
    50sh IAC Interactive Corporation 3,433 3,433
    85sh Icahn Enterprises LP 9,300 9,300
    20sh Imperial Oil Ltd 885 885
    2sh Intercontinental Exchange Group 450 450
    31sh L Brands Inc 1,917 1,917
    65sh Las Vegas Sands Corporation 5,127 5,127
    14sh Lenmar Corporation 554 554
    130sh Leucadia Interactive Corporation 3,684 3,684
    28sh Liberty Interactive Corporate Ventures 3,433 3,433
    165sh Liberty Interactive Corporation 4,843 4,843
    96sh Liberty Media Corporation 14,044 14,044
    103sh McEwen Mining Inc 202 202
    15sh Norfolk Southern Corporation 1,392 1,392
    35sh Oaktree Capital Group LLC 2,059 2,059
    98sh Onex Corporation 5,287 5,287
    28sh JC Penney Company 256 256
    6sh Philip Morris International Inc 523 523
    284sh Rouse Properties Inc 6,302 6,302
    15sh Sears CDA Inc 186 186
    46sh Sears Holdings Corporation 2,256 2,256
    12sh Sears Hometown & Outlet Stores Inc 306 306
    94sh Starz Series A 2,749 2,749
    28sh Tourmaline Oil Corporation 1,183 1,183
    8sh Union Pacific Corporation 1,344 1,344
    19sh Viacom Inc 1,659 1,659
    11sh Viasat Inc 689 689
    12sh Visa Inc Class A 2,672 2,672
    550sh Wendys Company 4,796 4,796
    57sh WPX Energy Inc 1,162 1,162
    13sh Wynn Resorts Ltd 2,522 2,522
    21sh Ace Limited 2,174 2,174
    128sh Activision Blizzard Inc 2,282 2,282
    31sh Agilent Technologies Inc 1,773 1,773
    50sh Air Products & Chemicals Inc 5,589 5,589
    11sh Allegheny Corporation 4,400 4,400
    165sh American Express Company 14,970 14,970
    20sh Ameriprise Financial Inc 2,301 2,301
    440sh Bank New York Mellon Corporation 15,374 15,374
    113sh Bed Bath & Beyond Inc 9,074 9,074
    100sh Berkshire Hathaway Inc 11,856 11,856
    80sh Brookfield Asset Management 3,106 3,106
    190sh Canadian Natural Resources Ltd 6,430 6,430
    44sh Carmax Inc 2,069 2,069
    76sh Coca Cola Company 3,140 3,140
    95sh Costco Warehouse Corporation 11,307 11,307
    208sh CVS Caremark Corporation 14,887 14,887
    38sh Diageo PLC Spons 5,032 5,032
    47sh Walt Disney Company 3,591 3,591
    31sh Ecolab Inc 3,232 3,232
    50sh EOG Resources Inc 8,392 8,392
    73sh Express Scripts Holding Company 5,128 5,128
    14sh Google Inc 15,690 15,690
    26sh Harley Davidson Inc 1,800 1,800
    50sh Hewlett-Packard Company 1,399 1,399
    78sh Iron Mountain Inc 2,367 2,367
    38sh JPMorgan Chase & Company 2,222 2,222
    63sh Laboratory Corporation of America 5,756 5,756
    121sh Lowes Corporation 5,837 5,837
    60sh Microsoft Corporation 2,245 2,245
    32sh Monsanto Company 3,730 3,730
    40sh Occidental Petroleum Corporation 3,804 3,804
    80sh Oracle Corporation 3,061 3,061
    44sh Paccar Inc 2,603 2,603
    28sh Philip Morris International Inc 2,440 2,440
    221sh Progressive Corporation Ohio 6,027 6,027
    104sh Texas Instruments Inc 4,567 4,567
    94sh UnitedHealth Group Inc 7,078 7,078
    12sh Visa Inc Class A 2,672 2,672
    299sh Wells Fargo Company 13,573 13,573
    55sh The Boeing Company 7,507 7,507
    25sh Precision Castparts Corporation 6,733 6,733
    50sh Raytheon Company 4,535 4,535
    25sh WW Grainger Inc 6,386 6,386
    60sh Eaton Corporation 4,567 4,567
    155sh Danaher Corporation 11,966 11,966
    95sh Illinois Tool Works 7,988 7,988
    55sh Parker Hannafin Corporation 7,075 7,075
    21sh Polaris Industries Inc 3,058 3,058
    500sh Ford Motor Company 7,715 7,715
    95sh General Motors Company 3,883 3,883
    17sh Amazon.Com Inc 6,779 6,779
    65sh Costco Wholesale Corporation 7,736 7,736
    75sh CVS Caremark Corporation 5,368 5,368
    90sh EBay Inc 4,940 4,940
    115sh Home Depot Inc 9,469 9,469
    225sh Kroger Company 8,894 8,894
    90sh Macy's Inc 4,806 4,806
    160sh TJX Companies Inc 10,197 10,197
    85sh Wal-Mart Stores Inc 6,689 6,689
    80sh Nike Inc 6,291 6,291
    225sh Electronic Arts Inc 5,162 5,162
    55sh Hasbro Inc 3,026 3,026
    30sh Biogen Idec Inc 8,393 8,393
    25sh Celgene Corporation 4,224 4,224
    80sh Gilead Sciences Inc 6,012 6,012
    50sh Merck & Company Inc 2,503 2,503
    575sh Pfizer Inc 17,612 17,612
    20sh Vertex Pharmaceuticals Inc 1,486 1,486
    130sh CBS Corporation Class B 8,286 8,286
    90sh Time Warner Inc 6,275 6,275
    90sh Viacom Inc Class B 7,861 7,861
    85sh The Walt Disney Company 6,494 6,494
    75sh Allergan Inc 8,331 8,331
    50sh Becton Dickinson & Company 5,525 5,525
    105sh Johnson & Johnson 9,617 9,617
    115sh Medtronic Inc 6,600 6,600
    125sh Regal Entertainment Group 2,431 2,431
    75sh Patterson Companies Inc 3,090 3,090
    11sh Google Inc 12,328 12,328
    140sh Gannett Company 4,141 4,141
    70sh American Tower Corporation 5,587 5,587
    135sh Comcast Corporation 7,015 7,015
    20sh Pepsico Inc 1,659 1,659
    200sh Conagra Foods Inc 6,740 6,740
    6sh Chipotle Mexican Grill 3,197 3,197
    40sh McDonald's Corporation 3,881 3,881
    85sh Starbucks Corporation 6,662 6,662
    100sh Mead Johnson Nutrition Company 8,375 8,375
    90sh Altria Group Inc 3,454 3,454
    80sh Philip Morris International 6,969 6,969
    70sh Reynolds American Inc 3,499 3,499
    1,293.557sh Berntstein Emerging Markets Portfolio 35,379 35,379
    90sh Noble Energy Inc 6,130 6,130
    70sh Halliburton Company 3,553 3,553
    85sh Marathon Petroleum Corporation 7,797 7,797
    125sh Schlumberger Ltd 11,264 11,264
    100sh Hess Corporation 8,300 8,300
    85sh Occidental Petroleum Corporation 8,084 8,084
    150sh Valero Energy Corporation 7,560 7,560
    23sh Chevron Corporation 2,873 2,873
    110sh CIT Group Inc 5,734 5,734
    200sh Citigroup Inc 10,422 10,422
    80sh JPMorgan Chase & Company 4,678 4,678
    90sh American Express Company 8,166 8,166
    80sh Capital One Financial Corporation 6,129 6,129
    35sh Assurant Inc 2,323 2,323
    35sh Everest Real Estate Group Ltd 5,455 5,455
    250sh Genworth Financial Inc 3,883 3,883
    155sh Lincoln National Corporation 8,001 8,001
    625sh Bank of America Corporation 9,731 9,731
    275sh Wells Fargo & Company 12,485 12,485
    19sh Affiliated Managers Group Inc 4,121 4,121
    30sh Berkshire Hathaway Inc 3,557 3,557
    40sh Visa Inc 8,907 8,907
    200sh American International Group 10,210 10,210
    75sh Health Net Inc 2,225 2,225
    75sh AON PLC 6,292 6,292
    55sh Chubb Corporation 5,315 5,315
    55sh Partnerre Ltd 5,799 5,799
    80sh LyonDellBasell Industries 6,422 6,422
    40sh Monsanto Company 4,662 4,662
    40sh Intercontinentalexchange Group 8,997 8,997
    13,423.203 Bernstein International Portfolio 219,335 219,335
    40sh Verisk Analytics Inc 2,629 2,629
    1,735.392 AB Discovery Growth Fund 17,059 17,059
    736.88 AB Discovery Value Fund 16,005 16,005
    250sh Pulte Group Inc 5,093 5,093
    30sh The Sherwin-Williams Company 5,505 5,505
    18sh FedEx Corporation 2,588 2,588
    55sh Union Pacific Corporation 9,240 9,240
    85sh Ansys Inc 7,412 7,412
    100sh Cognizant Technology Solutions 10,098 10,098
    110sh Fidelity National Information 5,905 5,905
    15sh LinkedIn Corporation 3,252 3,252
    140sh Microsoft Corporation 5,240 5,240
    6sh Priceline.Com Inc 6,974 6,974
    50sh Amphenol Corporation 4,459 4,459
    30sh Apple Inc 16,833 16,833
    400sh Hewlett-Packard Company 11,192 11,192
    25sh IBM Corporation 4,689 4,689
    165sh Amdocs Ltd 6,805 6,805
    90sh Kinder Morgan Inc 3,240 3,240
    75sh AT&T Inc 2,637 2,637
    110sh Verizon Communications Inc 5,405 5,405
    22sh Liberty Media Corporation 3,222 3,222
    32,037.792sh Overlay A Portfolio Class 1 400,152 400,152
    22,312.319sh Overlay B Portfolio Class 1 232,494 232,494

    TY 2013 OtherDecreasesSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Description Amount
    12/31/12 prior period adjustment - eliminate discount on grants payable: 62,004


    TY 2013 OtherExpensesSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Office & Computer Expenses 470 47   423
    New York State Corporate Fee 250 25   225
    Miscellaneous 211 106   105


    TY 2013 OtherIncreasesSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Description Amount
    Unrealized gain on investments 622,560
    12/31/12 prior period adjustment - correct prepaids and accruals: 2,283


    TY 2013 OtherProfessionalFeesSchedule
    Name:
    Charles P Ferro Foundation
    EIN: 22-3253710
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Merrill Lynch Advisory Services Investment Management 16,305 16,305    
    Wells Fargo Advisory Services Investment Management 19,348 19,348    
    Bernstein Wealth Management Investment Management 6,695 6,695