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.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
FREAS FOUNDATION 1871001360
 

Number and street (or P.O. box number if mail is not delivered to street address)1340 BROADCASTING ROAD SUITE 100   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WYOMISSING, PA19610
A Employer identification number

22-1714810
B Telephone number (see instructions)

(215) 412-8572
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$4,031,558J 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
Sch. B ...............
3 Interest on savings and temporary cash investments 149 149 149
4 Dividends and interest from securities...... 80,450 82,204 75,303
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 168,043
b Gross sales price for all assets on line 6a 999,187
7 Capital gain net income (from Part IV, line 2)... 168,043
8 Net short-term capital gain......... 0
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........ 248,642 250,396 75,452
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... 500      
c Other professional fees (attach schedule).... 16,241 16,241 16,241 0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... 8,473 659   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 124      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 25,338 16,900 16,241 0
25 Contributions, gifts, grants paid........ 181,954 181,954
26 Total expenses and disbursements. Add lines 24 and 25 207,292 16,900 16,241 181,954
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 41,350
b Net investment income (if negative, enter -0-) 233,496
c Adjusted net income (if negative, enter -0-)... 59,211
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
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............... 26 10 10
2 Savings and temporary cash investments.......... 72,306 90,952 90,952
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges........... 262 372 372
10a Investments—U.S. and state government obligations (attach schedule) 645,628 Click to see attachment694,674 695,009
b Investments—corporate stock (attach schedule)........ 1,292,803 Click to see attachment1,198,284 1,926,386
c Investments—corporate bonds (attach schedule)........ 475,460 Click to see attachment416,920 419,284
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 619,557 Click to see attachment746,179 899,545
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) 3,106,042 3,147,391 4,031,558
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......... 3,106,042 3,147,391
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 instructions)...... 3,106,042 3,147,391
31 Total liabilities and net assets/fund balances (see instructions).. 3,106,042 3,147,391
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 3,106,042
2 Enter amount from Part I, line 27a..................... 2 41,350
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 3,147,392
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,147,391
Form 990-PF (2014)
Form 990-PF (2014)
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 440. AT&T INC COM   2010-11-29 2014-01-06
b 195. AARON'S INC COM   2014-07-08 2014-10-27
c 5. ADVANCE AUTO PARTS INC   2011-09-20 2014-02-03
d 215. AMERICAN FINCL GROUP INC COM   2010-09-13 2014-01-08
e 45. AMETEK INC COM   2010-09-13 2014-02-03
5. AMETEK INC COM   2010-09-13 2014-10-17
85. AMETEK INC COM   2010-09-13 2014-10-27
25. AMGEN INC COM   2009-06-09 2014-02-03
110. AMGEN INC COM   2009-06-09 2014-04-23
291. AMGEN INC COM   2009-06-09 2014-07-21
4. APPLE INC COM   2013-04-18 2014-02-03
60. APPLE INC COM   2011-04-07 2014-10-17
15. APTARGROUP INC COM   2011-12-05 2014-02-03
45. APTARGROUP INC COM   2011-12-05 2014-03-07
80. APTARGROUP INC COM   2011-12-05 2014-08-25
45. BALL CORP   2012-11-26 2014-02-03
50. BALL CORP   2011-03-07 2014-10-17
5000. BANK OF NY MELLON BK DTD 09/23/2011 3.55   2012-05-30 2014-10-17
25. BAXTER INTL INC COM   2011-07-05 2014-02-03
10. BAXTER INTL INC COM   2014-07-21 2014-10-17
10. BIG LOTS INC   2013-12-02 2014-02-03
5. BIG LOTS INC   2013-12-02 2014-10-17
20. BROADRIDGE FINL SOL LLC COM   2010-09-13 2014-02-03
25. C. H. ROBINSON WORLDWIDE INC COM   2011-04-07 2014-02-03
25. C. H. ROBINSON WORLDWIDE INC COM   2010-11-29 2014-10-17
40. CADENCE DESIGN SYSTEMS, INC COM   2012-11-28 2014-02-03
10. CADENCE DESIGN SYSTEMS, INC COM   2012-11-28 2014-10-17
10. CARTER'S INC COM   2012-09-05 2014-02-03
90. CARTER'S INC COM   2012-09-05 2014-07-08
65. CHARLES RIVER LABS INTL INC COM   2012-04-10 2014-01-08
115. CHARLES RIVER LABS INTL INC COM   2012-04-10 2014-03-07
15. CHEVRONTEXACO CORP COM   2009-06-06 2014-02-03
70. CHEVRONTEXACO CORP COM   2009-06-06 2014-04-07
10. CHEVRONTEXACO CORP COM   2009-06-06 2014-10-17
15. CHURCH AND DWIGHT CO INC COM   2011-05-05 2014-02-03
110. CISCO SYSTEMS INC COM   2013-03-13 2014-02-03
125. CISCO SYSTEMS INC COM   2013-02-25 2014-10-17
45. COLGATE PALMOLIVE CO COM   2013-05-23 2014-02-03
50. COLGATE PALMOLIVE CO COM   2013-05-08 2014-10-17
30. COMMERCE BANCSHARES INC COM   2013-09-25 2014-02-03
5. COMMERCE BANCSHARES INC COM   2013-09-25 2014-10-17
.3 COMMERCE BANCSHARES INC COM   2013-09-25 2014-12-15
1490.069 CONESTOGA SMALL CAP FUND   2010-08-02 2014-02-03
15. CORELOGIC INC COM   2012-11-28 2014-02-03
180. CORELOGIC INC COM   2012-11-28 2014-03-07
5000. COSTCO WHSL CORP NEW DTD 02/20/2007 5.5%   2010-12-02 2014-10-17
5. CRANE CO COM   2014-01-08 2014-02-03
25. DELUXE CORPORATION COM   2013-04-01 2014-02-03
10. DELUXE CORPORATION COM   2013-04-01 2014-10-17
60. DISCOVER FINANCIAL SERVICES COM   2011-07-05 2014-02-03
155. DISCOVER FINANCIAL SERVICES COM   2011-07-05 2014-04-23
20. DISCOVER FINANCIAL SERVICES COM   2011-07-05 2014-10-17
15. DOVER CORP COM   2013-12-10 2014-02-03
25. DOVER CORP COM   2013-12-10 2014-10-17
25. EXXON MOBIL CORPORATION COM   1983-12-22 2014-02-03
20. EXXON MOBIL CORPORATION COM   2014-04-23 2014-10-17
5. FACTSET RESEARCH SYSTEMS INC COM   2010-09-13 2014-02-03
25000. FNMA DTD 08/17/2006 5.25% 09/15/2016   2010-12-02 2014-08-27
5000. FNMA DTD 10/01/2013 1.625% 11/27/2018   2014-02-12 2014-10-17
40000. FHLMC NOTE DTD 03/27/2009 3.75% 03/27/20   2011-04-15 2014-10-06
5000. FHLMC NOTE DTD 03/27/2009 3.75% 03/27/20   2013-11-04 2014-10-06
5000. FHLMC NOTE DTD 01/30/2012 1% 03/08/2017   2014-02-12 2014-09-23
25000. FHLMC NOTE DTD 01/30/2012 1% 03/08/2017   2012-03-07 2014-09-23
20. ARTHUR J GALLAGHER & CO COM   2013-02-25 2014-02-03
35. ARTHUR J GALLAGHER & CO COM   2011-12-05 2014-07-08
25. GENUINE PARTS CO COM   2014-08-25 2014-10-17
759.627 GOLDMAN SACHS SATELLITE STRATEGIES   2010-11-01 2014-10-17
5. HALLIBURTON CO COM   2014-04-07 2014-10-17
30. HALLIBURTON CO COM   2014-04-23 2014-10-17
640. HALLIBURTON CO COM   2014-04-07 2014-12-11
5. HANCOCK HOLDING CO COM   2014-01-08 2014-10-17
10. HANESBRANDS INC COM   2013-06-25 2014-02-03
5. HANESBRANDS INC COM   2013-06-25 2014-10-17
15. HARRIS CORPORATION COM   2013-09-25 2014-02-03
5. HARRIS CORPORATION COM   2013-09-25 2014-10-17
15. HORMEL FOODS CORP COM   2010-09-13 2014-02-03
5. HORMEL FOODS CORP COM   2010-09-13 2014-10-17
5. HUBBELL INC CL B COM   2010-09-13 2014-02-03
90. INTEL CORP COM   2012-02-08 2014-02-03
105. INTEL CORP COM   2012-02-08 2014-10-17
15. INTERNATIONAL BUS MACHS CORP COM   2002-02-22 2014-02-03
15. INTERNATIONAL BUS MACHS CORP COM   2005-09-25 2014-10-17
25000. INTERNATIONAL BUS MACHS CORP DTD 09/14/2   2010-12-02 2014-12-01
30. JOHNSON & JOHNSON COM   2004-04-15 2014-02-03
30. JOHNSON & JOHNSON COM   2004-04-15 2014-10-17
20. J2 GLOBAL INC   2010-09-13 2014-02-03
187.5 KNOWLES CORP COM   2013-12-02 2014-03-13
10. L-3 COMMUNICATIONS HOLDINGS COM   2010-09-13 2014-02-03
30. L-3 COMMUNICATIONS HOLDINGS COM   2010-09-13 2014-08-25
25. LABORATORY CRP OF AMER HLDGS COM   2013-05-23 2014-02-03
20. LABORATORY CRP OF AMER HLDGS COM   2014-08-25 2014-10-17
5. MSCI INC COM   2014-01-08 2014-10-17
35. MACYS INC   2014-01-06 2014-02-03
45. MACYS INC   2014-01-06 2014-04-07
160. MACYS INC   2013-05-08 2014-04-07
10. MACYS INC   2013-03-13 2014-04-07
40. MACYS INC   2014-08-25 2014-10-17
65. MARSH & MCLENNAN CO COM   2012-08-27 2014-02-03
140. MARSH & MCLENNAN CO COM   2012-08-27 2014-04-23
15. MARSH & MCLENNAN CO COM   2012-08-27 2014-10-17
35. MATTEL INC COM   2014-01-06 2014-02-03
42. MATTEL INC COM   2014-01-06 2014-04-23
940. MATTEL INC COM   2013-03-13 2014-04-23
30. MCCORMICK & COMPANY INC NON VTG SHS COM   2010-11-29 2014-02-03
65. MCCORMICK & COMPANY INC NON VTG SHS COM   2010-11-29 2014-07-21
20. MCCORMICK & COMPANY INC NON VTG SHS COM   2010-11-29 2014-10-17
20. MCKESSON HBOC INC COM   2011-04-07 2014-02-03
105. MCKESSON HBOC INC COM   2011-03-15 2014-07-21
5. MCKESSON HBOC INC COM   2011-03-15 2014-10-17
25. MEDTRONIC INC COM   2014-08-25 2014-10-17
5. MEREDITH CORP COM   2014-01-08 2014-02-03
5. MEREDITH CORP COM   2014-01-08 2014-10-17
85. MICROSOFT CORP COM   2010-11-29 2014-02-03
95. MICROSOFT CORP COM   2010-11-29 2014-10-17
10. MINERALS TECHNOLOGIES INC COM   2012-09-05 2014-02-03
15. MINERALS TECHNOLOGIES INC COM   2012-09-05 2014-03-07
60. OCEANEERING INTL INC COM   2012-11-28 2014-01-08
15. OMNICARE INC COM   2012-04-10 2014-02-03
5. OMNICARE INC COM   2012-04-10 2014-10-17
75. ORACLE CORP COM   2011-04-07 2014-02-03
80. ORACLE CORP COM   2011-03-15 2014-10-17
5. PANERA BREAD COMPANY CL A COM   2010-09-13 2014-02-03
35. PEPSICO INC COM   2012-02-08 2014-02-03
35. PEPSICO INC COM   2012-02-08 2014-10-17
20. QUALCOMM INC COM   2014-01-06 2014-02-03
35. QUALCOMM INC COM   2014-01-06 2014-10-17
25. RAYTHEON CO COM NEW   2012-08-27 2014-02-03
25. RAYTHEON CO COM NEW   2012-08-27 2014-10-17
15. REINSURANCE GROUP OF AMER, INC. COM   2013-09-25 2014-02-03
100. REINSURANCE GROUP OF AMER, INC. COM   2013-05-22 2014-07-08
25. REINSURANCE GROUP OF AMER, INC. COM   2013-09-25 2014-07-08
55. RELIANCE STEEL & ALUMINUM COM   2014-01-08 2014-04-04
15. ROSS STORES COM   2010-09-13 2014-02-03
5. ROSS STORES COM   2010-09-13 2014-10-17
5000. SBC COMMUNICATIONS INC DTD 08/18/2004 01/2000 05.625% 06/15/2016   2013-06-21 2014-03-18
25000. SBC COMMUNICATIONS INC DTD 08/18/2004 01/2000 05.625% 06/15/201   2010-12-02 2014-03-18
5. SCHLUMBERGER LTD COM   2014-07-21 2014-10-17
55. TJX COMPANIES INC COM   2011-04-08 2014-02-03
175. TJX COMPANIES INC COM   2011-04-08 2014-04-07
35. TJX COMPANIES INC COM   2011-04-08 2014-10-17
25. TORCHMARK CORP. COM   2014-01-06 2014-02-03
120. TORCHMARK CORP. COM   2013-05-08 2014-04-23
10. TORCHMARK CORP. COM   2014-01-06 2014-04-23
325. TORCHMARK CORP. COM   2013-04-18 2014-08-25
25. TORCHMARK CORP. COM   2013-04-18 2014-10-17
20. TORO CO COM   2010-09-13 2014-02-03
5. TORO CO COM   2010-09-13 2014-10-17
10. TUPPERWARE BRANDS CORP COM   2010-09-13 2014-02-03
115. UGI CORP COM   2013-04-01 2014-01-08
. U.S. BANCORP COM     2014-02-03
55. U.S. BANCORP COM   2014-01-06 2014-02-03
40. U.S. BANCORP COM   2012-11-02 2014-10-17
60. U.S. BANCORP COM   2014-01-06 2014-10-17
10. UNION PACIFIC CORP COM   2013-02-25 2014-02-03
30. UNION PACIFIC CORP COM   2013-02-25 2014-10-17
20000. US BANCORP DTD 07/27/2010 2.45% 07/27/20   2011-04-15 2014-02-25
5000. US TREASURY NOTE DTD 12/02/2013 1.25% 11   2014-02-12 2014-10-17
5000. US TREASURY NOTE DTD 08/31/2009 3% 08/31   2013-11-01 2014-05-19
20000. US TREASURY NOTE DTD 08/31/2009 3% 08/31   2010-12-02 2014-05-19
5000. US TREASURY INFLATION INDEX NOTE DTD 04/30/2010 .5% 04/15/2015   2013-11-01 2014-06-26
20000. US TREASURY INFLATION INDEX NOTE DTD 04/30/2010 .5% 04/15/2015   2011-04-15 2014-06-26
20000. US TREASURY NOTE DTD 06/30/2010 2.5% 06/   2010-12-02 2014-04-25
5000. US TREASURY NOTE DTD 06/30/2010 2.5% 06/   2013-11-01 2014-04-25
25000. US TREASURY NOTE DTD 06/30/2010 2.5% 06/   2011-04-15 2014-12-23
20. UNITED TECHNOLOGIES CORP COM   2011-03-15 2014-02-03
25. UNITED TECHNOLOGIES CORP COM   2011-03-15 2014-10-17
10. UNITED THERAPEUTICS CORP COM   2013-09-25 2014-02-03
25. V F CORPORATION COM   2011-03-15 2014-02-03
20. V F CORPORATION COM   2013-05-23 2014-02-03
50. V F CORPORATION COM   2011-03-15 2014-10-17
15. VALSPAR CORPORATION COM   2011-03-24 2014-02-03
170. VECTREN CORPORATION COM   2011-05-05 2014-01-08
15. WADDELL & REED FINANCIAL INC CL A COM   2013-09-25 2014-02-03
5. WADDELL & REED FINANCIAL INC CL A COM   2013-09-25 2014-10-17
40. WALGREEN CO COM   2009-06-09 2014-02-03
15. WALGREEN CO COM   2013-05-08 2014-02-03
150. WALGREEN CO COM   2009-06-09 2014-04-07
150. WALGREEN CO COM   2009-06-09 2014-07-21
120. WALGREEN CO COM   2009-06-09 2014-08-25
25. WALGREEN CO COM   2009-06-09 2014-10-17
10. WATSCO INC COM   2013-04-01 2014-02-03
145. WELLCARE HEALTH PLANS INC COM   2014-01-08 2014-08-25
40000. WELLS FARGO COMPANY DTD 12/12/2011 2.625   2012-04-12 2014-02-25
15. JOHN WILEY & SONS, INC COM   2010-10-12 2014-02-03
141. JOHN WILEY & SONS, INC COM   2010-10-11 2014-04-04
380. WISCONSIN ENERGY CORP COM   2010-12-03 2014-01-06
15. WORLD FUEL SERVICES CORP COM   2010-09-13 2014-02-03
15. ZEBRA TECHNOLOGIES CORP CL A COM   2013-02-25 2014-02-03
95. PERRIGO CO PLC   2013-12-19 2014-01-08
30. TE CONNECTIVITY LTD COM   2014-01-06 2014-02-03
40. TE CONNECTIVITY LTD COM   2014-01-06 2014-10-17
5. TE CONNECTIVITY LTD COM   2013-05-08 2014-10-17
CAPITAL GAIN DIVIDENDS P    
(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 15,332   12,236 3,096
b 4,650   6,966 -2,316
c 548   315 233
d 12,155   6,415 5,740
e 2,154   915 1,239
244   102 142
4,321   1,729 2,592
2,931   1,270 1,661
12,383   5,588 6,795
34,433   14,782 19,651
2,005   1,581 424
5,871   3,008 2,863
929   777 152
2,955   2,330 625
5,080   4,142 938
2,313   2,008 305
3,247   1,879 1,368
5,234   5,358 -124
1,669   1,504 165
673   761 -88
257   387 -130
220   193 27
698   450 248
1,433   1,865 -432
1,697   1,850 -153
550   516 34
164   129 35
649   567 82
6,250   5,103 1,147
3,675   2,287 1,388
6,582   4,047 2,535
1,673   1,056 617
8,267   4,927 3,340
1,114   704 410
933   617 316
2,363   2,386 -23
2,900   2,704 196
2,700   2,757 -57
3,180   3,039 141
1,257   1,250 7
208   208  
13   12 1
50,260   27,745 22,515
461   384 77
5,839   4,610 1,229
5,526   5,814 -288
302   334 -32
1,135   1,033 102
543   413 130
3,137   1,611 1,526
8,736   4,161 4,575
1,248   537 711
1,243   1,371 -128
1,858   1,900 -42
2,260   67 2,193
1,817   2,013 -196
510   415 95
27,325   28,667 -1,342
5,042   4,997 45
43,463   42,883 580
5,433   5,538 -105
4,951   5,030 -79
24,755   24,924 -169
891   773 118
1,620   1,222 398
2,212   2,208 4
6,115   6,107 8
265   293 -28
1,590   1,946 -356
24,859   37,539 -12,680
156   183 -27
683   506 177
524   253 271
1,005   895 110
321   298 23
653   334 319
251   111 140
563   242 321
2,159   2,414 -255
3,300   2,817 483
2,594   1,113 1,481
2,729   931 1,798
28,062   28,727 -665
2,603   1,633 970
2,950   1,633 1,317
875   455 420
5,653   5,692 -39
1,096   667 429
3,289   2,000 1,289
2,210   2,505 -295
1,976   2,143 -167
215   219 -4
1,790   1,866 -76
2,635   2,400 235
9,369   7,395 1,974
586   422 164
2,259   2,482 -223
2,906   2,231 675
6,780   4,805 1,975
756   515 241
1,254   1,636 -382
1,573   1,963 -390
35,215   39,692 -4,477
1,885   1,345 540
4,558   2,884 1,674
1,341   887 454
3,410   1,575 1,835
19,804   8,061 11,743
955   382 573
1,539   1,599 -60
220   255 -35
229   255 -26
3,121   2,162 959
4,143   2,417 1,726
494   345 149
816   517 299
4,620   3,122 1,498
913   513 400
313   171 142
2,685   2,530 155
3,029   2,640 389
833   435 398
2,757   2,382 375
3,207   2,336 871
1,459   1,455 4
2,539   2,545 -6
2,321   1,413 908
2,428   1,413 1,015
1,054   1,013 41
7,910   6,517 1,393
1,977   1,689 288
4,006   4,155 -149
993   397 596
385   132 253
5,514   5,627 -113
27,571   28,188 -617
471   567 -96
3,081   1,397 1,684
10,520   4,444 6,076
2,111   889 1,222
1,813   1,933 -120
9,474   7,716 1,758
789   773 16
17,685   13,466 4,219
1,277   978 299
1,237   539 698
290   135 155
750   431 319
4,687   4,398 289
       
2,146   2,234 -88
1,572   1,386 186
2,357   2,527 -170
1,713   1,373 340
3,193   2,059 1,134
20,560   20,244 316
4,999   4,937 62
5,285   5,342 -57
21,141   20,833 308
5,549   5,511 38
22,197   21,510 687
20,938   20,503 435
5,234   5,290 -56
25,934   24,857 1,077
2,210   1,574 636
2,542   1,967 575
973   769 204
1,413   594 819
1,131   927 204
3,207   1,188 2,019
1,022   574 448
5,954   4,776 1,178
928   781 147
228   260 -32
2,220   1,251 969
832   740 92
9,768   4,690 5,078
10,708   4,690 6,018
7,297   3,752 3,545
1,503   782 721
908   832 76
9,103   10,398 -1,295
41,854   41,198 656
769   650 119
8,123   6,109 2,014
15,268   11,257 4,011
625   392 233
794   673 121
14,854   14,459 395
1,644   1,632 12
2,141   2,176 -35
268   225 43
      8,718
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       3,096
b       -2,316
c       233
d       5,740
e       1,239
      142
      2,592
      1,661
      6,795
      19,651
      424
      2,863
      152
      625
      938
      305
      1,368
      -124
      165
      -88
      -130
      27
      248
      -432
      -153
      34
      35
      82
      1,147
      1,388
      2,535
      617
      3,340
      410
      316
      -23
      196
      -57
      141
      7
       
      1
      22,515
      77
      1,229
      -288
      -32
      102
      130
      1,526
      4,575
      711
      -128
      -42
      2,193
      -196
      95
      -1,342
      45
      580
      -105
      -79
      -169
      118
      398
      4
      8
      -28
      -356
      -12,680
      -27
      177
      271
      110
      23
      319
      140
      321
      -255
      483
      1,481
      1,798
      -665
      970
      1,317
      420
      -39
      429
      1,289
      -295
      -167
      -4
      -76
      235
      1,974
      164
      -223
      675
      1,975
      241
      -382
      -390
      -4,477
      540
      1,674
      454
      1,835
      11,743
      573
      -60
      -35
      -26
      959
      1,726
      149
      299
      1,498
      400
      142
      155
      389
      398
      375
      871
      4
      -6
      908
      1,015
      41
      1,393
      288
      -149
      596
      253
      -113
      -617
      -96
      1,684
      6,076
      1,222
      -120
      1,758
      16
      4,219
      299
      698
      155
      319
      289
       
      -88
      186
      -170
      340
      1,134
      316
      62
      -57
      308
      38
      687
      435
      -56
      1,077
      636
      575
      204
      819
      204
      2,019
      448
      1,178
      147
      -32
      969
      92
      5,078
      6,018
      3,545
      721
      76
      -1,295
      656
      119
      2,014
      4,011
      233
      121
      395
      12
      -35
      43
       
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 2 168,043
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 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))
2013 170,676 3,736,275 0.045681
2012 162,337 3,465,932 0.046838
2011 152,297 3,360,637 0.045318
2010 135,348 3,153,174 0.042924
2009 175,464 2,884,391 0.060832
2 Total of line 1, column (d) ...................... 2 0.241593
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 0.048319
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 4,096,555
5 Multiply line 4 by line 3....................... 5 197,941
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,335
7 Add lines 5 and 6......................... 7 200,276
8 Enter qualifying distributions from Part XII, line 4.............. 8 181,954
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 (2014)
Form 990-PF (2014)
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 4,670
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 4,670
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,670
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 5,220
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,220
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
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 10 550
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet550 RefundedBullet 11 0
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 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)
    bulletPA
    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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletNATIONAL PENN INVESTORS TRUST CO Telephone no.bullet (610) 372-6414
    Located atbullet1340 BROADCASTING ROAD SUITE 100WYOMISSINGPA ZIP+4bullet19610
    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 2014, 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 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    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 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 2014?.............
    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 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    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
     
    No
    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 2014 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 2014.)....................
    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 2014?
    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 4945(d)(4)(A)? (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 (2014)
    Form 990-PF (2014)
    Page 7
    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
    LAWRENCE FREAS TREASURER
    0     		0    
    4425 EDGEHAM COURT
    EARLYSVILLE,VA22936
    NANCY PRATT VICE PRESIDENT
    0     		0    
    2811 St Regis Dr
    North Chesterfield,VA23236
    SUSAN MAGARGEE SECRETARY
    0     		0    
    484 STEELE HOLLOW
    JULIAN,PA16844
    DONALD FREAS PRESIDENT
    0     		0    
    515 Flora Vista Rd NE
    Olympia,WA985062856
    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 RICHMOND FRIENDS OF THE HOMELESS SHAWNEE HANSEN PRESIDENT 4600 JAYDEE DR MOSELEY VA 23120 1415 ROADMILLER ST RICHMOND VA 23220 5,000
    2 SOUTH SOUND ESTUARY ASSOC DIANA LARSEN MILLS ACTING DIRECTOR PO BOX 2182 OLYMPIA WA 98 400 WEST 7TH ST FREDRICK MD 21701 3,300
    3 INTERFAITH WORKS MEG MARTIN SHELTER PROGRAM DIRECTOR POBOX 1221 OLYMPIA WA 98507 9,500
    4 MILTON POLICE DEPARTMENT ANDREW MAGARGEE CORPORAL 7 TOWNHOUSE RD MILTON NH 03851 5275 BUCKEYSTOWN PIKE #204 FREDRICK MD 21701 5,440
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    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 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
    4,043,729
    b
    Average of monthly cash balances.......................
    1b
    115,210
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,158,939
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    4,158,939
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    62,384
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,096,555
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    204,828
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    204,828
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    4,670
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,670
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    200,158
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    200,158
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    200,158
    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
    181,954
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    181,954
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    181,954
    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 (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 200,158
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 181,594
    b Total for prior years:2012, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 0
    b From 2010....... 0
    c From 2011....... 0
    d From 2012....... 0
    e From 2013....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 181,954
    a Applied to 2013, but not more than line 2a 181,594
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 360
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 0 0
    (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 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		199,798
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010.... 0
    b Excess from 2011.... 0
    c Excess from 2012.... 0
    d Excess from 2013.... 0
    e Excess from 2014.... 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    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 2014, 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) 2014 (b) 2013 (c) 2012 (d) 2011
             
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    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
    ALBEMARLE HIGH SCHOOL
    ATHLETIC DEPARTMENT
    2775 HYDRAULIC ROAD
    CHARLOTTESVILLE,VA22901     		NONE 501(C)(3) GENERAL FUND 10,000
    CAPON BRIDGE ELEMENTARY
    SCHOOL
    PO BOX 127
    CAPON BRIDGE,WV26711     		NONE 501(C)(3) GENERAL FUND 2,500
    CENTRE COUNTY LAW
    ENFORCEMENT CAMP CADET INC
    118 S FRASER STREET
    STATE COLLEGE,PA168013899     		NONE 501(C)(3) GENERAL FUND 2,000
    CENTER COUNTY WOMEN'S
    RESOURCE CENTER
    140 W NITTANY AVENUE
    STATE COLLEGE,PA168024811     		NONE 501(C)(3) GENERAL FUND 5,000
    CENTRE VOLUNTEERS IN
    MEDICINE
    251 EASTERLY PKWY SUITE 102
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 3,600
    FORT EDWARDS FOUNDATION
    PO BOX 623
    CAPON BRIDGE,WV26711     		NONE 501(C)(3) GENERAL FUND 4,500
    GARDEN-RAISED BOUNTY
    (GRUB)
    711 STATE AVENUE NE
    OLYMPIA,WA98506     		NONE 501(C)(3) GENERAL FUND 9,062
    ORCH OF ALBERMALE HIGH
    JOUETT & SUTHERLAND SCHS
    2775 HYDRAULIC ROAD
    CHARLOTTESVILLE,VA22901     		NONE 501(C)(3) GENERAL FUND 5,000
    SCHLOW CENTRE COUNTY
    LIBRARY
    211 S ALLEN STREET
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 10,000
    HOUSE OF CARE
    515 W BEAVER AVE
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 1,305
    STATE THEATRE INC
    130 W COLLEGE AVE
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 4,895
    GLOBAL EMERGENCY HEALTH
    CARE CENTER
    2033 W IOWA ST 3
    CHICAGO,IL60622     		NONE 501(C)(3) GENERAL 8,000
    YMCA OF CENTRE COUNTY
    677 W WHITEHALL ROAD
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 3,000
    BENEDICTINE PROGRAMS AND SERVICES
    14299 BENEDICTINE LANE
    REIGELY,MD21660     		NONE 501(C)(3) GENERAL FUND 6,500
    INSTITUTE OF AWAKENED MUTUALITY
    3930 NE 105TH AVE
    PORTLAND,OR97220     		NONE 501(C)(3) GENERAL FUND 14,563
    OLYMPIA ARTSPACE ALLIANCE
    3400 CAPITAL BLVD STE 101
    OLYMPIA,WA985013351     		NONE 501(C)(3) GENERAL FUND 9,063
    PIEDMONT VIRGINIA COMMUNITY COLLEGE
    501 COLLEGE DRIVE
    CHALROTTSVILLE,VA229027589     		NONE EXEMPT GENERAL FUND 9,591
    CENTRE COUNTY PAWS
    1401 TROUT ROAD
    STATE COLLEGE,PA16801     		NONE 501(C)(3) GENERAL FUND 2,250
    FIRST UNITARIAN UNIVERSALIST
    CHURCH OF RICHMOND
    1000 BLANTON AVENUE
    RICHMOND,VT23221     		NONE 501(C)(3) GENERAL FUND 11,488
    LEWIS GINTER BOTANIC GARDEN
    1800 LAKESIDE AVENUE
    RICHMOND,VA232284700     		NONE 501(C)(3) GENERAL FUND 10,000
    MAYMONT FOUNDATION
    1700 HAMPTON STREET
    RICHMOND,VA23220     		NONE 501(C)(3) GENERAL FUND 10,000
    TOM HARPSTREITH MEMORIAL YOUTH
    HUNT
    1096 E 28TH STREET
    TORRINGTON,WY82240     		NONE 501(C)(3) GENERAL FUND 1,000
    VALLEY PARK HIGH SCHOOL
    1 MAIN STREET
    VALLEY PARK,MO63088     		NONE 501(C)(3) GENERAL FUND 7,397
    ACE MONTOR PROGRAM OF
    FREDERIOCK MD
    5275 BUCKEYSTOWN PIKE 204
    FREDERICK,MD21701     		NONE 501(C)(3) GENERAL FUND 1,500
    FEEDMORE iNC
    1415 ROADMILLER STREET
    RICHMOND,VA23220     		NONE 501(C)(3) GENERAL FUND 5,000
    FREDERICK MEMORIAL HOSPITAL
    400 WEST 7TH STREET
    FREDERICK,MD21701     		NONE 501(C)(3) GENERAL FUND 1,500
    INTERFAITH WORKS
    PO BOX 12121
    RICHMOND,VA98507     		NONE 501(C)(3) GENERAL FUND 9,500
    MILTON POLICE DEPARTMENT
    7 TOWNHOUSE ROAD
    MILTON,NH03851     		NONE 501(C)(3) GENERAL FUND 5,440
    RICHMOND FRIENDS OF THE HOMELESS
    4600 JAYDEE DR
    MOSELY,VA23120     		NONE 501(C)(3) GENERAL FUND 5,000
    SOUTH SOUND ESTUARY ASSOCIATION
    PO BOX 2182
    OLYMPIA,WA98507     		NONE 501(C)(3) GENERAL FUND 3,300
    Total .................................bullet 3a 181,954
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    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 ............     		    14 149  
    4 Dividends and interest from securities....     14 80,450  
    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 .............     		    18 168,043  
    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)..   248,642  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13248,642
    (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 (2014)
    Form 990-PF (2014)
    Page 13
    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) 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 (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JP MORGAN CHASE & CO 1/29/08 35,003 35,040
    COSTCO WHSL CORP 2/20/2007 5.5 34,409 32,829
    GLAXOSMITHKLINE CAP INC 5/13 28,623 28,163
    INTERNATIONA BUS MACHS 9/14/07    
    SBC COMMUNICATIONS 8/18/04 5.6    
    WELLS FARGO CO 12/12/11 2.625 40,337 40,106
    US BANCORP 7/27/10 2.45%    
    GEN ELEC CAP 1/7/11 4.625% 37,613 39,011
    BANK OF NY MELLON 9/23/11 3.55 35,963 36,591
    PEPSICO INC 10/26/10 3.125% 24,522 25,874
    MERCK & CO 12/10/10 3.875% 25,841 27,051
    OCCIDENTAL PETE CORP 26,141 26,531
    CON EDISON CO NY 4/1/08 5.85% 23,224 22,634
    DEERE & CO 6/8/12 2.6% 24,816 24,595
    CHEVRON CORP 6/24/13 1.718% 24,723 25,127
    WAL-MART STORES 4/11/13 2.55% 30,272 29,550
    APPLE INC DTD 5/6/14 25,433 26,182

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EXXON MOBIL CORP 13,110 46,687
    INTL BUSINESS MACHINES CORP 12,408 32,088
    JOHNSON & JOHNSON 24,849 48,311
    MICROSOFT CORP 35,385 64,798
    UGI CORP    
    WALGREEN CO 15,603 38,024
    CHARLES RIVER LABS INTL INC    
    PEPSICO INC COM 32,427 47,753
    APPLE, INCORPORATED 28,497 68,325
    AT&T, INCORPORATED    
    DELUXE CORPORATION 9,210 14,318
    LABORATORY COPR OF AMER HLDG 39,338 46,397
    L3 COMMUNICATIONS HLDG 3,918 7,573
    OMNICARE INC COM 4,443 9,481
    U.S.BANCORP 44,041 62,256
    CORELOGIC INC COM    
    BIG LOTS INC 3,672 3,802
    CISCO SYSTEMS INC 36,182 47,981
    COLGATE PALMOLIVE CO 34,477 50,509
    AMGEN INC    
    CHEVRON CORPORATION 14,993 23,894
    DOVER CORP 26,147 25,102
    INTEL CORP 38,758 54,254
    MACYS INC 36,402 55,888
    MATTEL INC    
    AMERICAN FINCL GROUP INC    
    AMETEK INC 5,227 13,526
    BROADRIDGE FINL SOL LLC 4,387 9,005
    CH ROBINSON WORLDWID INC 26,338 27,709
    CADENCE DESIGN SYSTEMS INC 4,647 6,829
    CARTERS INC COM    
    FACTSET RESEARCH SYSTEMS INC 7,055 11,964
    HARRIS CORPORATION 6,356 10,055
    HORMEL FOODS CORP 3,339 7,815
    HUBBELL INC 3,624 8,012
    J2 GLOBAL COMMUNICATIONS INC 5,177 11,470
    MCCORMICK & COMPANY INC 21,865 34,921
    MCKESSON HBOC INC 15,821 49,819
    MINERALS TECHNOLOGIES INC COM 2,068 4,167
    MARSH & MCLENNAN 33,295 55,523
    OCEANEERING INTL INC COM    
    ORACLE CORP 34,647 54,414
    PANERA BREAD COMPANY 3,482 6,992
    PERRIGO CO    
    HANESBRANDS INC 5,569 12,278
    QUALCOMM INC 24,066 35,307
    ROSS STORES 3,707 13,196
    REINSURANCE GROUP OF AMER, INC    
    TORCHMARK CORP 22,107 30,606
    UNION PACIFIC CORP 28,829 50,035
    TORO CO 4,983 11,805
    TUPPERWARE BRANDS CORP 3,665 5,355
    VF CORPORATION 16,568 57,299
    JOHN WILEY & SONS INC    
    WISCONSIN ENERGY CORP    
    WORLD FUEL SERVICES CORP 3,979 6,805
    ADVANCE AUTO PARTS INC 4,729 11,946
    APTARGROUP INC    
    BALL CORP 26,206 50,787
    BAXTER INTL INC 27,345 32,248
    CHURCH & DWIGHT CO INC 5,556 10,639
    COMMERCE BANCSHARES 8,723 11,220
    DISCOVER FINL SERVICES 22,279 54,357
    UNITED THERAPEUTICS CORP 9,617 16,186
    ARTHUR J GALLAGHER 4,974 7,297
    TJX COS INC 19,425 52,464
    UNITED TECHNOLOGIES CORP 26,419 40,250
    VECTREN CORP    
    WADDELL & REED FINL INC CL A 8,817 10,213
    WATSCO INC 5,588 8,560
    RAYTHEON CO COM NEW 22,613 43,268
    ZEBRA TECHNOLOGIES CORP CL A 5,163 8,902
    TE CONNECTIVITY LTD 27,877 39,215
    VALSPAR 6,142 13,404
    BROWN AND BROWN INC COM 9,167 9,379
    CRANE CO COM 7,890 6,751
    GENUINE PARTS CO COM 51,945 63,942
    GLOBAL PAYMENTS INC 7,271 8,073
    HANCOCK HOLDING CO COM 9,742 8,443
    HEALTH NET INC COM 6,431 7,762
    HOLLY FRONTIER CORP 6,892 5,247
    MSCI INC COM 6,124 6,642
    MEDNAX 9,236 9,917
    MEDTRONIC INC 44,779 51,623
    MEREDITH CORP 6,875 7,333
    OLIN CORP 11,168 9,108
    SCHLUMBERGER LTD COM 44,630 38,862

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    US Government Securities - End of Year Book Value:

    694,674
    US Government Securities - End of Year Fair Market Value:

    695,009
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2014 InvestmentsOtherSchedule2
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ARTISAN INTERNATIONAL AT COST 150,862 208,906
    CONESTOGA SMALL CAP AT COST 56,180 101,679
    GOLDMAN SACHS SATELLITE STRAT AT COST 259,267 259,500
    HENDERSON INTL OPPORTUNITIES AT COST 147,129 204,336
    T ROWE PRICE INTL DISCOVERY FU AT COST 132,741 125,124

    TY 2014 OtherDecreasesSchedule
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    FREAS FOUNDATION 1871001360
    EIN: 22-1714810
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes