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
ELISHA-BOLTON FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)1111 SUPERIOR AVENUE E SUITE 700   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CLEVELAND, OH441142540
A Employer identification number

34-1500135
B Telephone number (see instructions)

(216) 363-6481
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$5,088,283J 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 24,313 24,313  
4 Dividends and interest from securities...... 98,736 98,736  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 370,600
b Gross sales price for all assets on line 6a 2,044,956
7 Capital gain net income (from Part IV, line 2)... 370,600
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........ 493,649 493,649  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 29,148 21,861   7,287
c Other professional fees (attach schedule).... Click to see attachment 28,664 26,664   2,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 12,117 2,417   200
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,567 1,113   454
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 71,496 52,055   9,941
25 Contributions, gifts, grants paid........ 258,500 258,500
26 Total expenses and disbursements. Add lines 24 and 25 329,996 52,055   268,441
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 163,653
b Net investment income (if negative, enter -0-) 441,594
c Adjusted net income (if negative, enter -0-)...  
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............... 35,407 10,930 10,930
2 Savings and temporary cash investments.......... 181,418 192,806 192,806
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...........      
10a Investments—U.S. and state government obligations (attach schedule) 166,931 Click to see attachment142,774 157,649
b Investments—corporate stock (attach schedule)........ 3,156,156 Click to see attachment3,271,743 4,205,990
c Investments—corporate bonds (attach schedule)........ 313,418 Click to see attachment350,387 363,020
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 81,226 Click to see attachment136,207 157,888
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) 3,934,556 4,104,847 5,088,283
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 3,934,556 4,104,847
30 Total net assets or fund balances (see instructions)...... 3,934,556 4,104,847
31 Total liabilities and net assets/fund balances (see instructions).. 3,934,556 4,104,847
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 3,934,556
2 Enter amount from Part I, line 27a..................... 2 163,653
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 6,638
4 Add lines 1, 2, and 3.......................... 4 4,104,847
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 4,104,847
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 LITIGATION PROCEEDS P    
b 70.0000-CARDINAL HEALTH P 2013-09-19 2014-02-10
c 0.81810-VODAFONE GROUP P 2010-12-13 2014-02-25
d 55.00-KNOWLES CORP P 2013-08-14 2014-04-03
e 100.00-AMERIPRISE FINANCIAL P 2013-08-01 2014-05-09
140.00-BNP PARIBAS ADR P 2012-09-11 2014-06-02
250.00-UNITED TECHNOLOGIES P 2011-10-04 2014-07-24
90.00-CHEVRON CORPORATION P 2008-10-06 2014-09-12
250.00-AMERIPRISE FINANCIAL P 2010-04-26 2014-10-17
40.00-VMWARE INC P 2013-08-14 2014-11-12
28.00-LAS VEGAS SANDS P 2012-06-07 2014-12-24
580.00-FORD MORTOR CO P 2013-09-05 2014-02-04
1600.00-HUNTINGTON BANCSHS P 2012-03-21 2014-04-16
640.00-PFIZER INCORPORATED P 2014-04-09 2014-07-30
80.00-AVAGO TECHNOLOGIES P 2013-03-15 2014-01-16
220.0000-LEAR CORPORATION P 2013-07-22 2014-02-11
329.14640-CREDIT SUISSE GRP P 2013-05-07 2014-02-28
50.00-KNOWLES CORP P 2014-02-04 2014-04-03
120.00-DEERE & CO P 2013-07-12 2014-05-15
0.50-TIME INC P 2013-02-07 2014-06-09
120.00-UNITED TECHNOLOGIES P 2012-01-25 2014-07-24
130.00-CHEVRON CORPORATION P 2011-09-16 2014-09-12
1,491.05-FRANKLIN INT SMALL P 2013-03-18 2014-10-28
190.00-VMWARE INC P 2013-08-29 2014-11-12
220.00-LAS VEGAS SANDS P 2013-04-08 2014-12-24
60.00-HONEYWELL INT P 2005-08-03 2014-02-04
690.00-HUNTINGTON BANCSHS P 2013-03-13 2014-04-16
1590.00-PEOPLES UNITED FINL P 2014-01-24 2014-08-07
110.00-ALLIANCE DATA SYSTEM P 2012-11-28 2014-01-15
450.0000-OCWEN FINANCIAL P 2013-07-05 2014-02-12
39.00000-VERIZON COMM P 2014-02-24 2014-02-24
200.00-ENERGIZER HOLDING P 2013-11-21 2014-04-09
100.00-DEERE & CO P 2013-08-14 2014-05-15
510.00-GENERAL ELECTRIC P 2011-03-17 2014-06-18
30.00-UNITED TECHNOLOGIES P 2013-05-14 2014-07-24
50.00-CHEVRON CORPORATION P 2013-04-18 2014-09-12
2,224.69-HARDING LOEVNER INST P 2013-03-18 2014-10-28
384.00-MDU RESOURCES P 2013-04-15 2014-11-14
170.00-LAS VEGAS SANDS P 2013-07-22 2014-12-24
20.00-HONEYWELL INT P 2006-10-03 2014-02-04
10.00-DIAGEO PLC NEW P 2007-06-08 2014-04-22
30.00-PEOPLES UNITED FINL P 2014-04-09 2014-08-07
20,000.00-COMCAST CORP P 2010-01-08 2014-01-15
240.0000-OCWEN FINANCIAL P 2013-08-01 2014-02-12
0.85360-CREDIT SUISSE GRP P 2013-02-27 2014-02-28
230.00-HONDA MOTOR CO P 2001-05-23 2014-04-16
150.00-INGERSOLL RAND CL A P 2013-09-30 2014-05-15
800.00-GENERAL ELECTRIC P 2011-04-26 2014-06-18
540.00-KINGFISHER PLC ADR P 2014-04-16 2014-07-29
175.00-PHILLIPS 66 P 1999-09-07 2014-09-12
155.00-ING GROEP N V ADR P 2014-06-02 2014-11-04
386.00-MDU RESOURCES P 2013-04-15 2014-11-17
332.00-LAS VEGAS SANDS P 2012-06-07 2014-12-26
20.00-HONEYWELL INT P 2011-01-28 2014-02-04
40.00-DIAGEO PLC NEW P 2008-07-16 2014-04-22
1300.00-HUNTINGTON BANCSHS P 2012-03-21 2014-07-29
500.00-CITIGROUP P 2012-01-12 2014-01-24
800.0000-SYMANTEC CORP P 2013-03-04 2014-02-18
110.00000-WYNDHAM WORLDWIDE P 2012-05-16 2014-03-11
230.00-CITRIX SYSTEMS P 2013-10-04 2014-04-23
410.00-JARDEN CORP P 2011-02-04 2014-05-06
310.00-GENERAL ELECTRIC P 2012-11-28 2014-06-18
700.00-PFIZER INCORPORATED P 2013-10-23 2014-07-30
40.00-PHILLIPS 66 P 2007-01-03 2014-09-12
475.00-ING GROEP N V ADR P 2014-06-02 2014-11-05
30,000.00-FNMA P 2010-03-08 2014-11-20
60.00-CHEVRON CORP P 2013-05-09 2014-01-13
120.00-HONEYWELL INT P 2012-05-17 2014-02-04
90.00-DIAGEO PLC NEW P 2011-01-28 2014-04-22
290.00-HUNTINGTON BANCSHS P 2012-04-18 2014-07-29
980.0000-HARDING LOEVNER P 2013-03-18 2014-01-31
30.0000-HESS CORPORATION P 2012-11-28 2014-01-01
60.00000-CARDINAL HEALTH P 2009-10-08 2014-03-13
30.00-CITRIX SYSTEMS P 2013-10-24 2014-04-23
40.00-JARDEN CORP P 2011-03-03 2014-05-06
1.00-CREDIT SUISSE GRP P 2013-02-27 2014-06-23
11.00-VERITIV CORPORATION P 2013-10-30 2014-07-31
120.00-KIMBERLY-CLARK CORP P 2011-09-28 2014-09-24
10.00-ARRIS GROUP P 2014-04-03 2014-11-10
830.00-PRECISION DRILLING P 2014-03-19 2014-12-03
50.00-CHEVRON CORP P 2011-09-16 2014-01-13
110.00-TRAVELERS COMPANIES P 2011-02-01 2014-02-04
40.00-DIAGEO PLC NEW P 2012-05-17 2014-04-22
120.00-MATTEL INCORPORATED P 2008-02-01 2014-09-02
150.0000-HESS CORPORATION P 2013-03-01 2014-01-31
103.0000-INGREDION INC. P 2012-06-07 2014-01-31
180.00-CARDINAL HEALTH P 2013-02-08 2014-03-13
250.00-MASTERCARD INC P 2011-10-13 2014-04-03
110.00-MC DONALDS CORP P 2011-09-12 2014-05-06
87.50-TIME INC P 2011-01-06 2014-06-24
190.00-VOLKSWAGEN A G P 2013-09-19 2014-08-07
130.00-W P P PLC ADR P 2014-02-04 2014-10-14
700.00-ARRIS GROUP P 2014-06-25 2014-11-10
370.00-PRECISION DRILLING P 2014-05-08 2014-12-03
20.00-CHEVRON CORP P 2012-01-09 2014-01-13
40.00-TRAVELERS COMPANIES P 2012-01-09 2014-02-04
240.00-EXXON MOBIL P 2013-02-07 2014-04-25
60.00-MATTEL INCORPORATED P 2008-04-07 2014-09-02
110.0000-HESS CORPORATION P 2013-05-21 2014-01-31
140.0000-INGREDION INC. P 2009-05-29 2014-02-03
530.00-CISCO SYSTEMS INC. P 2011-09-21 2014-03-13
244.00-CREDIT SUISSE GRP P 2013-02-27 2014-04-09
190.00-ABB LTD P 2010-05-28 2014-05-08
44.50-TIME INC P 2013-02-07 2014-06-24
670.00-INTESA SANPAOLO P 2014-04-09 2014-08-22
0.50-SMITH & NEPHEW ADR P 2014-02-28 2014-10-15
290.00-SYNAPTICS INC. P 2014-02-15 2014-11-21
100.00-DOVER CORPORATION P 2014-02-04 2014-12-17
30.00-CHEVRON CORP P 2012-05-17 2014-01-13
130.00-TRAVELERS COMPANIES P 2012-05-17 2014-02-04
50.00-MC DONALDS CORP P 2007-10-25 2014-05-02
150.00-MATTEL INCORPORATED P 2011-01-28 2014-09-02
692.0000-M D U RESOURCES CORP P 2013-04-12 2014-01-31
7.0000-INGREDION INC. P 2012-06-07 2014-02-03
250.00-CISCO SYSTEMS INC. P 2012-04-24 2014-03-13
200.00-GRUPO FIN BANORTE P 2012-11-23 2014-04-09
200.00-ABB LTD P 2010-12-13 2014-05-08
310.00-QUALCOMM INC P 2013-05-07 2014-06-25
56.00-RAYONIER ADVANCED P 2012-05-16 2014-07-31
115.00-BOEING CO P 2014-06-18 2014-10-23
250.00-SYNAPTICS INC. P 2014-03-13 2014-11-21
65.00-FLUOR CORP P 2014-05-15 2014-12-17
150.00-MATTEL INCORPORATED P 2011-06-22 2014-01-14
290.00-COMCAST CORP P 2012-05-29 2014-02-25
70.00-MC DONALDS CORP P 2008-01-04 2014-05-02
150.00-TOTAL S A ADR P 2012-09-14 2014-09-15
18.0000-M D U RESOURCES CORP P 2013-04-15 2014-01-31
310.0000-TRAVELERS COMPANIES P 2010-08-25 2014-02-04
190.00-HUMANA INC. P 2012-11-07 2014-03-13
330.00-INGREDION INC. P 2009-05-29 2014-04-09
90.00-ABB LTD P 2011-05-06 2014-05-08
0.6900-INTERCONTL HTL NEW P 2014-02-04 2014-07-02
490.00-COMPAGNE FINAN P 2013-03-15 2014-08-07
25.00-BOEING CO P 2014-07-24 2014-10-23
370.00-PNC FINL SERVICES P 2012-05-21 2014-10-29
110.00-ORIX CORP P 2013-03-22 2014-11-25
70.00-MATTEL INCORPORATED P 2012-01-09 2014-01-14
130.00-TRAVELERS COMPANIES P 2011-02-01 2014-03-20
10.00-MC DONALDS CORP P 2011-02-01 2014-05-02
110.00-TOTAL S A ADR P 2012-10-12 2014-09-15
113.3333-ALLEGION PUBLICA P 2013-05-14 2014-02-04
120.0000-CARDINAL HEALTH P 2013-02-08 2014-02-10
800.00-SUMITOMO MITSUI P 2010-09-09 2014-03-13
100.00-HSBC HLDGS P 2010-09-22 2014-04-16
250.00-KON PHILIPS P 2013-02-26 2014-05-08
0.6622-VERITIV CORP P 2013-10-30 2014-07-02
790.00-COMPAGNIE FINAN RIC P 2013-04-26 2014-08-07
75.00-FLUOR CORP P 2014-05-15 2014-10-27
180.00-PNC FINL SERVICES P 2012-10-05 2014-10-29
25,000.00-US TREASURY P 2010-07-13 2014-12-01
190.00-MATTEL INCORPORATED P 2012-05-17 2014-01-14
180.00-TRAVELERS COMPANIES P 2011-09-28 2014-03-20
120.00-MATTEL INCORPORATED P 2011-01-28 2014-05-14
90.00-M & T BANK CORP P 2010-12-21 2014-10-30
49.6666-ALLEGION PUBLICA P 2013-09-30 2014-02-04
110.0000-HUMANA INC. P 2012-11-07 2014-02-10
280.00-SUMITOMO MITSUI P 2010-12-13 2014-03-13
110.00-HSBC HLDGS P 2010-12-13 2014-04-16
40.00-AMERIPRISE FINANCIAL P 2010-04-26 2014-05-09
60.00-NXP SEMICONDUCTORS P 2013-10-09 2014-07-23
510.00-1 ADR REPS P 2009-04-16 2014-08-18
240.00-FLUOR CORP P 2014-07-24 2014-10-27
100.00-KIMXO REALTY CORP P 2012-05-16 2014-11-06
110.00-DOVER CORPORATION P 2013-08-14 2014-12-17
10.00-BANK MONTREAL P 2009-08-06 2014-01-24
130.00-ABBVIE INC P 2012-10-16 2014-04-09
240.00-MATTEL INCORPORATED P 2011-06-22 2014-05-14
45.00-M & T BANK CORP P 2012-05-17 2014-10-30
90.0000-CELGENE CORP P 2013-09-12 2014-02-06
640.00000-GENERAL ELECTRIC P 2012-11-28 2014-02-11
1,210.00-SUMITOMO MITSUI P 2011-10-03 2014-03-13
130.00-JARDEN CORP P 2014-02-06 2014-05-06
160.00-AMERIPRISE FINANCIAL P 2012-10-05 2014-05-09
120.00-NXP SEMICONDUCTORS P 2014-01-16 2014-07-23
100.00-PFIZER INCORPORATED P 2013-10-23 2014-09-09
290.00-CARDINAL HEALTH P 2009-10-08 2014-10-02
160.00-KIMCO REALTY CORP P 2013-04-17 2014-11-06
280.00-FLUOR CORP P 2013-09-27 2014-12-17
110.00-BANK MONTREAL P 2009-10-07 2014-01-24
280.00-ABBVIE INC P 2013-03-20 2014-04-09
190.00-APPLE INC. P 2012-07-25 2014-07-07
100.00-CISCO SYSTEMS P 2012-01-09 2014-11-10
30.0000-LEAR CORPORATION P 2013-07-22 2014-02-06
520.00000-CITIGROUP P 2012-01-12 2014-02-21
60.00-LUKOIL OIL CO P 2013-03-15 2014-03-19
8.00-KON PHILIPS P 2013-06-05 2014-05-08
340.00-KNOWLES CORP P 2013-05-14 2014-05-15
220.00-GALLAGHER ARTHUR P 2014-02-05 2014-07-24
670.00-PFIZER INCORPORATED P 2014-01-31 2014-09-09
140.00-AMCOR LTD P 2013-09-27 2014-10-09
31.25-HAYLARD HEALTH INC P 2011-09-12 2014-11-10
680.00-AIRBUS GROUP P 2013-07-26 2014-12-24
210.00-BANK MONTREAL P 2011-02-01 2014-01-24
80.00-AMERIPRISE FINANCIAL P 2012-09-14 2014-04-09
1360.00-FIFTH THIRD BANCORP P 2013-05-29 2014-07-18
110.00-CISCO SYSTEMS P 2012-05-09 2014-11-10
150.0000-LEAR CORPORATION P 2013-10-28 2014-02-06
0.45010-VERIZON COMM P 2010-12-13 2014-02-24
81.00-VODAFONE GROUP P 2000-12-13 2014-03-19
180.00-KON PHILIPS P 2014-02-04 2014-05-08
110.00-BNP PARIBAS ADR P 2012-08-22 2014-06-02
220.00-GALLAGHER ARTHUR P 2014-02-05 2014-07-25
110.00-ALLIANCE DATA SYSTEM P 2012-11-28 2014-09-10
220.00-LEAR CORPORATION P 2013-07-22 2014-10-13
3.75-HAYLARD HEALTH INC P 2011-09-28 2014-11-10
280.00-AIRBUS GROUP P 2013-08-07 2014-12-24
70.00-BANK MONTREAL P 2012-05-17 2014-01-24
150.00-AMERIPRISE FINANCIAL P 2013-02-20 2014-04-09
850.00-PEOPLES UNITED FINL P 2014-04-09 2014-07-29
450.00-CISCO SYSTEMS P 2013-09-04 2014-01-10
(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 427     427
b 4,673   3,757 916
c 33   40 -7
d 1,709   1,601 108
e 11,090   9,078 2,012
4,844   3,436 1,408
27,313   17,037 10,276
11,069   6,728 4,341
27,863   12,215 15,648
3,441   3,450 -9
1,622   1,294 328
8,584   10,035 -1,451
14,820   10,426 4,394
18,718   19,734 -1,016
4,418   2,879 1,539
16,527   14,644 1,883
10,342   9,715 627
1,554   1,379 175
10,934   10,069 865
12   8 4
13,110   9,392 3,718
15,989   12,871 3,118
30,169   27,315 2,854
16,343   16,161 182
12,748   11,878 870
5,384   2,344 3,040
6,391   5,147 1,244
22,861   23,304 -443
27,950   15,371 12,579
17,234   19,391 -2,157
1,819   1,876 -57
19,624   22,002 -2,378
9,112   8,257 855
13,650   9,980 3,670
3,278   2,875 403
6,150   5,792 358
40,620   38,031 2,589
9,616   9,421 195
9,851   9,471 380
1,795   841 954
1,239   830 409
431   447 -16
20,000   20,000  
9,191   12,031 -2,840
27   23 4
7,931   9,148 -1,217
8,547   7,761 786
21,412   16,148 5,264
5,466   7,685 -2,219
14,631   2,129 12,502
2,180   2,193 -13
9,663   9,470 193
19,362   15,344 4,018
1,795   1,100 695
4,955   2,866 2,089
12,851   8,471 4,380
24,614   15,652 8,962
16,572   19,166 -2,594
8,253   5,631 2,622
12,953   16,216 -3,263
23,008   9,403 13,605
8,297   6,513 1,784
20,473   21,527 -1,054
3,344   1,265 2,079
6,808   6,721 87
30,000   30,000  
7,204   7,421 -217
10,768   6,762 4,006
11,149   6,941 4,208
2,867   1,852 1,015
16,233   16,753 -520
2,276   1,475 801
4,348   1,632 2,716
1,690   1,764 -74
2,245   911 1,334
30   26 4
421   363 58
13,023   8,467 4,556
306   284 22
5,439   9,135 -3,696
6,003   4,951 1,052
8,838   6,269 2,569
4,955   3,867 1,088
4,134   2,517 1,617
11,379   9,841 1,538
6,420   5,285 1,135
13,043   8,127 4,916
18,687   8,448 10,239
11,113   9,372 1,741
2,079   944 1,135
8,501   8,843 -342
11,794   13,528 -1,734
21,406   22,287 -881
2,425   4,765 -2,340
2,401   2,199 202
3,214   2,392 822
24,049   21,096 2,953
2,067   1,313 754
8,345   7,682 663
8,371   3,652 4,719
11,413   8,727 2,686
7,899   6,437 1,462
4,399   3,270 1,129
1,058   753 305
11,791   14,012 -2,221
15   16 -1
17,564   18,898 -1,334
6,994   6,993 1
3,602   3,029 573
10,445   8,186 2,259
5,070   2,881 2,189
5,167   3,552 1,615
22,127   17,196 4,931
419   359 60
5,384   4,867 517
6,501   5,712 789
4,631   4,237 394
24,262   19,840 4,422
1,788   1,973 -185
13,979   15,164 -1,185
15,142   14,880 262
3,721   4,818 -1,097
6,673   4,078 2,595
14,680   8,466 6,214
7,098   4,003 3,095
9,633   8,216 1,417
576   442 134
24,907   15,304 9,603
20,843   13,502 7,341
22,308   8,608 13,700
2,084   2,345 -261
29   24 5
4,565   4,164 401
3,039   3,112 -73
31,115   22,935 8,180
7,198   6,873 325
3,114   2,004 1,110
10,826   7,408 3,418
1,014   737 277
7,064   5,478 1,586
5,446   3,973 1,473
8,011   5,418 2,593
6,982   4,890 2,092
5,184   5,212 -28
7,978   6,966 1,012
23   22 1
7,360   6,382 978
4,873   5,559 -686
15,137   11,782 3,355
25,256   24,985 271
8,453   5,975 2,478
14,990   8,793 6,197
4,739   2,842 1,897
10,744   7,720 3,024
2,387   1,982 405
10,572   7,817 2,755
2,444   1,865 579
5,702   5,803 -101
4,436   1,954 2,482
3,866   2,189 1,677
29,180   16,798 12,382
15,592   18,608 -3,016
2,476   1,926 550
7,694   8,120 -426
650   500 150
6,502   4,868 1,634
9,478   6,525 2,953
5,372   3,691 1,681
13,483   13,479 4
16,201   13,446 2,755
10,560   6,817 3,743
7,295   7,728 -433
17,745   9,305 8,440
7,731   5,467 2,264
2,909   3,075 -166
21,719   7,888 13,831
3,962   3,631 331
16,028   19,951 -3,923
7,145   5,476 1,669
14,004   10,929 3,075
18,158   15,548 2,610
2,508   1,916 592
2,212   1,997 215
25,131   16,278 8,853
3,143   3,926 -783
255   228 27
19,374   15,455 3,919
10,267   9,827 440
19,489   20,450 -961
5,596   5,632 -36
1,147   694 453
8,569   10,001 -1,432
13,640   12,344 1,296
8,621   4,804 3,817
27,655   25,175 2,480
2,758   2,065 693
11,059   11,631 -572
21     21
3,059   3,999 -940
5,744   6,245 -501
3,806   2,439 1,367
10,089   9,827 262
27,371   15,371 12,000
18,138   14,644 3,494
138   88 50
3,528   4,259 -731
4,547   3,812 735
16,164   10,338 5,826
12,738   12,675 63
11,284   10,683 601
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       427
b       916
c       -7
d       108
e       2,012
      1,408
      10,276
      4,341
      15,648
      -9
      328
      -1,451
      4,394
      -1,016
      1,539
      1,883
      627
      175
      865
      4
      3,718
      3,118
      2,854
      182
      870
      3,040
      1,244
      -443
      12,579
      -2,157
      -57
      -2,378
      855
      3,670
      403
      358
      2,589
      195
      380
      954
      409
      -16
       
      -2,840
      4
      -1,217
      786
      5,264
      -2,219
      12,502
      -13
      193
      4,018
      695
      2,089
      4,380
      8,962
      -2,594
      2,622
      -3,263
      13,605
      1,784
      -1,054
      2,079
      87
       
      -217
      4,006
      4,208
      1,015
      -520
      801
      2,716
      -74
      1,334
      4
      58
      4,556
      22
      -3,696
      1,052
      2,569
      1,088
      1,617
      1,538
      1,135
      4,916
      10,239
      1,741
      1,135
      -342
      -1,734
      -881
      -2,340
      202
      822
      2,953
      754
      663
      4,719
      2,686
      1,462
      1,129
      305
      -2,221
      -1
      -1,334
      1
      573
      2,259
      2,189
      1,615
      4,931
      60
      517
      789
      394
      4,422
      -185
      -1,185
      262
      -1,097
      2,595
      6,214
      3,095
      1,417
      134
      9,603
      7,341
      13,700
      -261
      5
      401
      -73
      8,180
      325
      1,110
      3,418
      277
      1,586
      1,473
      2,593
      2,092
      -28
      1,012
      1
      978
      -686
      3,355
      271
      2,478
      6,197
      1,897
      3,024
      405
      2,755
      579
      -101
      2,482
      1,677
      12,382
      -3,016
      550
      -426
      150
      1,634
      2,953
      1,681
      4
      2,755
      3,743
      -433
      8,440
      2,264
      -166
      13,831
      331
      -3,923
      1,669
      3,075
      2,610
      592
      215
      8,853
      -783
      27
      3,919
      440
      -961
      -36
      453
      -1,432
      1,296
      3,817
      2,480
      693
      -572
      21
      -940
      -501
      1,367
      262
      12,000
      3,494
      50
      -731
      735
      5,826
      63
      601
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 2 370,600
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 -16,652
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 249,375 5,052,246 0.049359
2012 183,958 4,369,857 0.042097
2011 241,359 4,424,565 0.054550
2010 205,235 4,056,525 0.050594
2009 169,933 3,567,822 0.047629
2 Total of line 1, column (d) ...................... 2 0.244229
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 0.048846
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 5,114,464
5 Multiply line 4 by line 3....................... 5 249,821
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,416
7 Add lines 5 and 6......................... 7 254,237
8 Enter qualifying distributions from Part XII, line 4.............. 8 268,441
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 4,416
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 4,416
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 4,416
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 7,093
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,093
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 2,677
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet2,677 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 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)
    bulletOH
    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 .Click to see attachment
    8b
     
    No
    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
     
     
    Website addressbulletNONE
    14
    The books are in care ofbulletMN ADVISORY SERVICES LLC Telephone no.bullet (216) 363-6481
    Located atbullet1111 SUPERIOR AVE SUITE 700CLEVELANDOH ZIP+4bullet44114
    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
     
    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 2014?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 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
     
     
    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
    GILBERT P SCHAFER III CO-PRESIDENT
    1.00     		0 0 0
    1111 SUPERIOR AVE SUITE 700
    CLEVELAND,OH44114
    JULIAN B SCHAFER CO-PRESIDENT
    1.00     		0 0 0
    1111 SUPERIOR AVE SUITE 700
    CLEVELAND,OH44114
    KENNETH G HOCHMAN TRUSTEE
    1.00     		0 0 0
    1111 SUPERIOR AVE SUITE 700
    CLEVELAND,OH44114
    JAMES C SEKERAK SECRETARY/TR
    2.00     		0 0 0
    1111 SUPERIOR AVE SUITE 700
    CLEVELAND,OH44114
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (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 N/A  
    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
    4,876,590
    b
    Average of monthly cash balances.......................
    1b
    315,759
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,192,349
    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
    5,192,349
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    77,885
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,114,464
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    255,723
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    255,723
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    4,416
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,416
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    251,307
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    251,307
    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
    251,307
    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
    268,441
    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
    268,441
    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
    4,416
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    264,025
    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 7 251,307
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011....... 23,597
    d From 2012.......  
    e From 2013....... 7,085
    fTotal of lines 3a through e......... 30,682
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 268,441
    a Applied to 2013, 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 2014 distributable amount..... 251,307
    e Remaining amount distributed out of corpus 17,134
    5 Excess distributions carryover applied to 2014.    
    (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 47,816
    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 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    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) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		47,816
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011.... 23,597
    c Excess from 2012....  
    d Excess from 2013.... 7,085
    e Excess from 2014.... 17,134
    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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ELISHA BOLTON FOUNDATION
    1111 SUPERIOR AVENUE E
    SUIT 700
    CLEVELAND,OH441142540
    (216) 363-6481
    J.SEKERAK@ADVSRV.COM
    bThe form in which applications should be submitted and information and materials they should include:
    WRITTEN PROPOSAL WITH A COPY OF INTERNAL REVENUE CERTIFICATION OF EXEMPT STATUS
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO GRANTS TO INDIVIDUALS
    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
    AMERICAN COLLEGE OF BUILDING ARTS
    P O BOX 71668
    N CHARLSTON,SC29415     		N/A PUBLIC CURRENT OPERATIONS 1,000
    AMERICAN FRIENDS OF ATTINGHAM
    144 EAST 39
    NEW YORK,NY10016     		N/A PUBLIC SCHOLARSHIP ASSISTANCE FOR ANNUAL SU 1,000
    AUWAIOLIMU CONGREGATIONAL CHURCH H
    P O BOX 11098
    HONOLULU,HI96828     		N/A PUBLIC DISCRETION OF REV. JOHN L. A. KALILI 10,000
    BILLY GRAHAM EVANGELISTIC ASSOCIATI
    P O BOX 1270
    CHARLOTTE,NC282011270     		N/A PUBLIC DISASTER RELIF WHERE NEEDED 5,000
    BRYN MAWR COLLEGE
    101 NORTH MERION AVENUE
    BRYN MAWR,PA19010     		N/A PUBLIC DISCRETION-HEAD OF THE CITIES DEPT 2,500
    CLEAN THE WORLD
    400A PITTMAN STREET
    ORLANDO,FL32801     		N/A PUBLIC CURRENT OPERATIONS 5,000
    CLEVELAND CLINIC COLE EYE INSTITUTE
    9500 EUCLID AVENUE 113
    CLEVELAND,OH44195     		N/A PUBLIC DRY MACULAR DEGENERATION RESEARCH 5,000
    DEATH VALLEY CONSERVANCY
    P O BOX 566
    DEATH VALLEY,CA92328     		N/A PUBLIC CURRENT OPERATIONS 10,000
    DOGS FOR THE DEAF OR
    10175 WHEELER ROAD
    CENTRAL POINT,OR97502     		N/A PUBLIC CURRENT OPERATIONS 2,000
    DUTCHESS LAND CONSERVANCY
    4289 ROUTE 82
    MILLBROOK,NY12545     		N/A PUBLIC CURRENT OPERATIONS 2,500
    FRIENDS OF HISTORIC MOUNT VERNON
    P O BOX 10
    MOUNT VERNON,VA22121     		N/A PUBLIC REGENT'S CIRCLE 1,000
    FRIENDS OF RED ROCK CANYON
    P O BOX 97
    BLUE DIAMOND,NV89004     		N/A PUBLIC CURRENT OPERATIONS 10,000
    GARRISON FOREST SCHOOL
    300 GARRISON FOREST ROAD
    OWINGS MILLS,MD21117     		N/A PUBLIC ENDOWMENT FUND 5,000
    HABITAT FOR HUMANITY
    322 WEST LAMAR STREET
    AMERICUS,GA31709     		N/A PUBLIC DISASTER RELIEF, WHERE MOST NEEDED 5,000
    HAL LINDSEY WEBSITE MINISTRIES
    28245 EQUESTRIAN
    FAIR OAKS RANCH,TX780154656     		N/A PUBLIC CURRENT OPERATIONS-TELEVISION 2,000
    HIGHER GROUND SUN VALLEY
    120 SECOND AVENUE STE 206
    KETCHUM,ID83340     		N/A PUBLIC CURRENT OPERATIONS 5,000
    IN TOUCH MINISTRIES GA
    P O BOX 620362
    ATLANTA,GA30362     		N/A PUBLIC DR. CHARLES STANLEY - WHERE NEEDED 3,000
    INSIGHT FOR LIVING CA
    P O BOX 269000
    PLANO,TX75026     		N/A PUBLIC DR. CHARLES SWINDOLL - WHERE NEEDED 3,000
    INSIGHT FOR LIVING CA
    P O BOX 269000
    PLANO,TX75026     		N/A PUBLIC DR. CHARLES SWINDOLL - WHERE NEEDED 1,500
    JACK VAN IMPE MINISTRIES
    P O BOX 7004
    TROY,MI48007     		N/A PUBLIC MEDIA 5,000
    KEYLIFE MINISTRIES
    P O BOX 945000
    MAITLAND,FL327945000     		N/A PUBLIC DISCRETION OF STEVE BROWN 2,000
    LAS VEGAS RESCUE MISSION
    480 WEST BONANZA ROAD
    LAS VEGAS,NV891063227     		N/A PUBLIC CURRENT OPERATIONS 5,000
    LAS VEGAS VALLEY HUMANE SOCIETY
    3395 SOUTH JONES BLVD 45
    LAS VEGAS,NV89146     		N/A PUBLIC OPERATIONS 5,000
    MILLBROOK SCHOOL NY
    131 MILLBROOK SCHOOL ROAD
    MILLBROOK,NY12545     		N/A PUBLIC ANNUAL FUND 5,000
    MILLBROOK SCHOOL NY
    131 MILLBROOK SCHOOL ROAD
    MILLBROOK,NY12545     		N/A PUBLIC HEADMASTER ENDOWMENT 2,500
    MILLBROOK SCHOOL NY
    131 MILLBROOK SCHOOL ROAD
    MILLBROOK,NY12545     		N/A PUBLIC CAPITAL CAMPAIGN 20,000
    MUSICAL ARTS ASSOCIATION OH
    11001 EUCLID AVENUE
    CLEVELAND,OH44106     		N/A PUBLIC CLEVELAND ORCHESTRA-SUSTAINING FUND 4,000
    NEW ENGLAND CONSERVATORY
    290 HUNTINGTON AVENUE
    BOSTON,MA02115     		N/A PUBLIC ANNUAL FUND 1,000
    NORTH BENNET STREET SCHOOL BOSTON
    39 NORTH BENNET STREET
    BOSTON,MA02113     		N/A PUBLIC CARPENTRY DEPARTMENT 15,000
    PETS FOR THE ELDERLY FOUNDATION OH
    P O BOX 226
    WICKLIFFE,OH44092     		N/A PUBLIC CURRENT OPERATIONS 1,000
    RAVI ZACHARIAS INTERNATIONAL MINIST
    4725 PEACHTREE CORNERS CI
    NORCROSS,GA30092     		N/A PUBLIC DISCRETION OF DR. RAVI ZACHARIAS 5,000
    SONGTIME INC
    710 MAIN STREET
    YARMOUTH PORT,MA02675     		N/A PUBLIC WHERE MOST NEEDED 1,000
    SPECIAL OPERATIONS WARRIOR FOUNDATI
    P O BOX 13483
    TAMPA,FL33681     		N/A PUBLIC GENERAL OPERATIONS 5,000
    TALL TIMBERS RESEARCH STATION FL
    13093 HENRY BEADEL DRIVE
    TALLAHASSEE,FL32312     		N/A PUBLIC LAND CONSERVANCY-DISCRETION K MCGORT 4,000
    TALL TIMBERS RESEARCH STATION FL
    13093 HENRY BEADEL DRIVE
    TALLAHASSEE,FL32312     		N/A PUBLIC LAND CONSERVANCY-DISCRETION K MCGORT 5,000
    THOMAS COUNTY HISTORICAL SOCIETY
    P O BOX 1922
    THOMASVILLE,GA31799     		N/A PUBLIC ARCHIVES DEPARTMENT 1,000
    THOMAS JEFFERSON FOUNDATION
    P O BOX 316
    CHARLOTTESVILLE,VA22902     		N/A PUBLIC CURRENT OPERATIONS 20,000
    THOMAS JEFFERSON FOUNDATION
    P O BOX 316
    CHARLOTTESVILLE,VA22902     		N/A PUBLIC CAPITAL CAMPAIGN 15,000
    THOMAS UNIVERSITY
    1501 MILLPOND ROAD
    THOMASVILLE,GA31792     		N/A PUBLIC AT THE DISCRETION OF THE PRESIDENT 2,000
    THOMASVILLE CENTER FOR THE ARTS
    P O BOX 2177
    THOMASVILLE,GA31799     		N/A PUBLIC CURRENT OPERATIONS 1,000
    THOMASVILLE LANDMARKS
    P O BOX 1285
    THOMASVILLE,GA31799     		N/A PUBLIC CURRENT OPERATIONS 1,000
    THOMASVILLE-THOMAS COUNTY HUMANE SO
    180 BIG STAR DRIVE
    THOMASVILLE,GA31757     		N/A PUBLIC OPERATING FUNDS 4,000
    THREE SQUARE FOOD BANK
    4190 NORTH PECOS ROAD
    LAS VEGAS,NV89115     		N/A PUBLIC CURRENT OPERATIONS 5,000
    THRU THE BIBLE RADIO CA
    P O BOX 7100
    PASADENA,CA91109     		N/A PUBLIC MR. L KARLYN-WHERE NEEDED FOR RADIO 10,000
    TOTAL COMMUNITY ACTION
    1420 SOUTH FEFF DAVIS PAR
    NEW ORLEANS,LA70125     		N/A PUBLIC CURRENT OPERATIONS 5,000
    TURNING POINT
    P O BOX 3838
    SAN DIEGO,CA92163     		N/A PUBLIC D JEREMIAH-WHERE NEEDED FOR MEDIA 4,000
    URBAN ALTERNATIVE TX
    P O BOX 4000
    DALLAS,TX75208     		N/A PUBLIC DR. ANTHONY T. EVANS - WHERE NEEDED 1,500
    WOUNDED WARRIORS PROJECT
    P O BOX 758517
    TOPEKA,KS66675     		N/A PUBLIC GENERAL OPERATIONS 5,000
    YALE SCHOOL OF ARCHITECTURE
    180 YORK STREET
    NEW HAVEN,CT06520     		N/A PUBLIC AT THE DISCRETION OF THE DEAN 10,000
    YMCA EVERETT-MILTON CENTER THOMASV
    P O BOX 1037
    THOMASVILLE,GA31799     		N/A PUBLIC CURRENT OPERATIONS 2,000
    YMCA FRANCIS F WESTON CENTER THOM
    P O BOX 1037
    THOMASVILLE,GA31799     		N/A PUBLIC CURRENT OPERATIONS 2,000
    YOSEMITE CONSERVANCY
    101 MONTGOMERY STREET STE
    SAN FRANCISCO,CA94104     		N/A PUBLIC CURRENT OPERATIONS 5,000
    Total .................................bullet 3a 258,500
    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 24,313  
    4 Dividends and interest from securities....     14 98,736  
    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 .............     		    14 370,600  
    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)..   493,649  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13493,649
    (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 AccountingFeesSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    M+N ADVISORY SERVICES LLC 29,148 21,861   7,287

    TY 2014 ExplnOfNonFilingWithAGStmt
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Statement:
    NOT REQUIRED

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SCHWAB 1873-3721 350,387 363,020

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SCHWAB 1873-3721-CORP STOCK 2,087,911 2,669,164
    SCHWAB 6459-9470-CORP STOCK 969,835 1,319,133
    SCHWAB 1873-3721-MUTUAL FUND 161,563 163,103
    SCHWAB 1873-3721-AGENCY SEC 52,434 54,590

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    US Government Securities - End of Year Book Value:

    142,774
    US Government Securities - End of Year Fair Market Value:

    157,649
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2014 InvestmentsOtherSchedule2
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SCHWAB 6459-9470-OTHER ASSETS AT COST 50,621 52,378
    SCHWAB 1873-3721-OTHER ASSETS AT COST 85,586 105,510

    TY 2014 OtherExpensesSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    INSURANCE 1,113 1,113    
    MISCELLANEOUS 454     454


    TY 2014 OtherIncreasesSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Description Amount
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FERGUSON WELLMAN CAPITAL MANAGEM 20,664 20,664    
    K G HOCHMAN CONSULTING LLC 8,000 6,000   2,000


    TY 2014 TaxesSchedule
    Name:
    ELISHA-BOLTON FOUNDATION
    EIN: 34-1500135
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEES 200     200
    SCHWAB 1873-3721 - FOREIGN TAX W 1,475 1,475    
    SCHWAB 6459-9470 - FOREIGN TAX W 942 942    
    EXCISE TAXES PAID 9,500