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
THE PALMER FAMILY FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)33 TWINSHORE COURT   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CARMEL, IN46033
A Employer identification number

35-6691822
B Telephone number (see instructions)

(317) 574-0621
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$2,880,290J 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).............. 599,737
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 11 11  
4 Dividends and interest from securities...... 68,493 68,493  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 296,122
b Gross sales price for all assets on line 6a 1,257,295
7 Capital gain net income (from Part IV, line 2)... 296,122
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 13,600 13,600  
12 Total. Add lines 1 through 11........ 977,963 378,226  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
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 2,500 0   0
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,091 2,557   0
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 20,685 20,685   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 28,276 23,242   0
25 Contributions, gifts, grants paid........ 126,551 126,551
26 Total expenses and disbursements. Add lines 24 and 25 154,827 23,242   126,551
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 823,136
b Net investment income (if negative, enter -0-) 354,984
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............... 106,623 24,011 24,011
2 Savings and temporary cash investments.......... 61,361 74,327 74,327
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)      
b Investments—corporate stock (attach schedule)........ 1,628,151 Click to see attachment2,403,398 2,781,952
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
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) 1,796,135 2,501,736 2,880,290
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) Click to see attachment0 Click to see attachment4,220
23 Total liabilities (add lines 17 through 22).......... 0 4,220
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......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 1,796,135 2,497,516
30 Total net assets or fund balances (see instructions)...... 1,796,135 2,497,516
31 Total liabilities and net assets/fund balances (see instructions).. 1,796,135 2,501,736
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 1,796,135
2 Enter amount from Part I, line 27a..................... 2 823,136
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 276
4 Add lines 1, 2, and 3.......................... 4 2,619,547
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 122,031
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 2,497,516
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 APPLE INC   2013-07-19 2014-01-07
b CISCO SYS INC   2014-09-08 2014-12-30
c DELTA AIR LINES INC NEW   2013-12-26 2014-08-01
d E V FLOATING RATE I   2014-01-07 2014-03-14
e E V FLOATING RATE I   2014-01-31 2014-03-14
E V FLOATING RATE I   2014-02-28 2014-03-14
GANNETT COMPANY INC DE   2014-05-13 2014-08-01
KRAFT FOODS GROUP INC COM   2014-02-07 2014-12-30
MICROSOFT CORP   2013-02-28 2014-01-07
ORACLE CORP   2013-10-03 2014-08-01
PG&E CORPORATION   2014-02-07 2014-12-30
SEAGATE TECHNOLOGY PLC   2014-02-07 2014-12-30
TERADYNE INC   2013-10-14 2014-08-01
TERADYNE INC   2013-11-18 2014-08-01
ALTRIA GROUP INC   2012-04-03 2014-12-30
AMEREN CORP (HLDG CO)   2013-01-10 2014-12-30
APPLE INC   2012-02-13 2014-07-31
APPLE INC   2013-03-06 2014-07-31
APPLE INC   2013-04-24 2014-08-01
APPLE INC   2013-06-10 2014-08-01
APPLE INC   2013-07-19 2014-12-30
BRISTOL MYERS SQUIBB CO   2012-04-03 2014-01-07
BRISTOL MYERS SQUIBB CO   2013-12-23 2014-12-30
CINCINNATI BELL INC NEW   2013-05-09 2014-08-01
DOW CHEMICAL CO   2013-04-02 2014-08-01
DU PONT EI DE NEMOURS & CO   2012-04-03 2014-12-30
DUKE ENERGY CORP NEW   2012-04-03 2014-12-30
EBAY INC   2012-05-10 2014-08-01
EDISON INTERNATIONAL   2013-10-17 2014-12-30
EMERSON ELECTRIC CO   2012-03-19 2014-08-01
GOOGLE INC CL C   2011-08-24 2014-07-31
GOOGLE INC CL C   2013-05-10 2014-08-01
GOOGLE INC-CL A   2011-08-24 2014-07-31
GOOGLE INC-CL A   2013-05-10 2014-08-01
JOHNSON & JOHNSON   2012-11-29 2014-01-07
JPMORGAN CHASE & CO   2013-08-22 2014-12-30
KIMBERLY CLARK CORP   2012-04-03 2014-01-07
KIMBERLY CLARK CORP   2013-12-23 2014-12-30
LOCKHEED MARTIN CORP   2012-11-29 2014-01-07
LOCKHEED MARTIN CORP   2013-12-23 2014-12-30
LYONDELLBASELL NV CL-A   2013-02-28 2014-12-30
MICROSOFT CORP   2011-06-14 2014-08-01
MICROSOFT CORP   2013-12-23 2014-12-30
NESTLE SPON ADR REP REG SHR   2011-01-03 2014-08-01
NEXTERA ENERGY INC COM   2013-10-17 2014-12-30
PAYCHEX INC   2012-04-03 2014-01-07
PFIZER INC   2013-01-10 2014-12-30
SEMPRA ENERGY   2012-04-03 2014-01-07
SEMPRA ENERGY   2013-12-23 2014-12-30
STRYKER CORP   2012-12-03 2014-07-31
SUNLIFE FINL SVCS CDA INC   2012-04-03 2014-01-07
WELLS FARGO & CO NEW   2013-02-19 2014-07-31
WELLS FARGO & CO NEW   2013-01-23 2014-08-01
WILLIAMS CO INC   2012-07-11 2014-12-30
BERKSHIRE HATHAWAY CL-B NEW   2010-01-04 2014-07-31
BERKSHIRE HATHAWAY CL-B NEW   2010-01-04 2014-08-01
CENTRAL FUND CANADA LTD A   2005-06-07 2014-08-01
CENTRAL FUND CANADA LTD A   2005-12-29 2014-08-01
MASTERCARD INC CL A   2010-12-10 2014-07-31
MASTERCARD INC CL A   2010-12-10 2014-08-01
PFIZER INC   2008-08-18 2014-07-31
PFIZER INC   2008-08-18 2014-08-01
SPDR GOLD TR GOLD SHS   2009-01-30 2014-08-01
UNITEDHEALTH GP INC   2010-12-10 2014-08-01
VIACOM INC NEW CLASS A   2010-03-24 2014-07-31
VIACOM INC NEW CLASS A   2010-03-24 2014-08-01
AEGON NV ADR   2014-02-07 2014-12-04
GLAXOSMITHKLINE PLC ADS   2013-02-13 2014-02-07
GLAXOSMITHKLINE PLC ADS   2013-03-13 2014-02-07
ISHARES SELECT DIVIDEND ETF   2013-12-16 2014-02-07
ISHARES US TELECOMM ETF   2013-12-16 2014-02-07
LORILLARD INC   2013-02-13 2014-02-12
PAYCHEX INC   2013-02-13 2014-02-07
PAYCHEX INC   2013-03-13 2014-02-07
AEGON NV ADR   2013-10-17 2014-12-04
AEGON NV ADR   2013-10-17 2014-12-04
ALTRIA GROUP INC   2013-01-03 2014-02-12
ALTRIA GROUP INC   2013-02-13 2014-12-15
AMEREN CORP (HLDG CO)   2013-01-10 2014-12-04
APPLE INC   2013-07-19 2014-12-15
BRISTOL MYERS SQUIBB CO   2013-02-13 2014-12-15
BRISTOL MYERS SQUIBB CO   2013-03-13 2014-12-15
DU PONT EI DE NEMOURS & CO   2013-01-03 2014-02-07
FORD MOTOR CO NEW   2013-01-10 2014-06-24
FORD MOTOR CO NEW   2013-01-10 2014-09-08
FORD MOTOR CO NEW   2013-02-13 2014-09-08
FORD MOTOR CO NEW   2013-03-13 2014-09-08
FREEPORT-MCMORAN INC   2013-01-03 2014-10-30
FREEPORT-MCMORAN INC   2013-02-13 2014-10-30
FREEPORT-MCMORAN INC   2013-03-13 2014-10-30
GLAXOSMITHKLINE PLC ADS   2013-01-03 2014-02-07
HALYARD HEALTH INC   2013-01-03 2014-10-31
HALYARD HEALTH INC   2013-01-03 2014-11-10
HALYARD HEALTH INC   2013-02-13 2014-11-10
HALYARD HEALTH INC   2013-03-13 2014-11-10
ISHARES MORTGAGE RE EST CP ETF   2013-09-06 2014-12-15
JOHNSON & JOHNSON   2013-01-03 2014-06-24
KIMBERLY CLARK CORP   2013-01-03 2014-12-04
KIMBERLY CLARK CORP   2013-02-13 2014-12-15
KIMBERLY CLARK CORP   2013-03-13 2014-12-15
LOCKHEED MARTIN CORP   2013-01-03 2014-02-07
LORILLARD INC   2013-01-03 2014-02-12
LORILLARD INC   2013-02-13 2014-06-24
LORILLARD INC   2013-03-13 2014-06-24
LYONDELLBASELL NV CL-A   2013-03-13 2014-12-15
MICROSOFT CORP   2013-02-28 2014-06-24
PAYCHEX INC   2013-01-03 2014-02-07
PPL CORPORATION   2013-01-03 2014-06-17
PPL CORPORATION   2013-02-13 2014-06-17
PPL CORPORATION   2013-03-13 2014-06-17
REYNOLDS AMERICAN INC   2013-01-03 2014-02-12
REYNOLDS AMERICAN INC   2013-02-13 2014-06-24
REYNOLDS AMERICAN INC   2013-03-13 2014-06-24
SEADRILL LTD   2013-01-03 2014-10-03
SEADRILL LTD   2013-02-13 2014-10-03
SEADRILL LTD   2013-03-13 2014-10-03
SEMPRA ENERGY   2013-01-03 2014-06-24
SUN LIFE FINL SVCS CDA INC   2013-01-03 2014-06-24
VANGUARD DIVIDEND APPRECIATION   2013-01-03 2014-02-07
WILLIAMS CO INC   2013-01-03 2014-06-24
E V FLOATING RATE I   2013-01-03 2014-03-14
E V FLOATING RATE I   2013-01-31 2014-03-14
E V FLOATING RATE I   2013-02-13 2014-03-14
E V FLOATING RATE I   2013-03-13 2014-03-14
FIDELITY ADV FLTG RT HI INC I   2013-01-03 2014-03-14
FIDELITY ADV FLTG RT HI INC I   2013-01-31 2014-03-14
FIDELITY ADV FLTG RT HI INC I   2013-02-13 2014-03-14
FIDELITY ADV FLTG RT HI INC I   2013-03-13 2014-03-14
VANGUARD 500 INDEX   2014-05-01 2014-05-27
VANGUARD 500 INDEX   2013-01-01 2014-05-27
BARON SMALL CAP FUND   2013-01-01 2014-03-25
DODGE & COX STOCK   2013-01-01 2014-03-25
MAINSTAY LARGE CAP GROWTH FUND   2013-01-01 2014-03-25
PIMCO COMMODITY REAL RETURN   2013-01-01 2014-03-25
VIRTUS REAL ESTATE SECURITIES   2013-01-01 2014-03-25
PIMCO COMMODITY REAL RETURN   2013-01-01 2014-09-30
SPARTAN 500 INDEX FUND   2013-01-01 2014-12-17
UBS AG JERSEY   2014-01-01 2014-12-19
CAPITAL GAINS 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 10,822   8,565 2,257
b 10,008   8,776 1,232
c 6,181   4,598 1,583
d 32,758   32,865 -107
e 62   62 0
89   89 0
11,474   9,695 1,779
10,002   8,203 1,799
22,139   17,000 5,139
7,034   5,822 1,212
6,988   5,345 1,643
9,843   7,246 2,597
8,182   7,652 530
909   857 52
9,956   6,189 3,767
9,873   6,549 3,324
1,338   1,002 336
478   306 172
6,700   4,081 2,619
10,529   6,895 3,634
9,963   5,384 4,579
26,900   17,083 9,817
7,031   6,283 748
8,987   8,156 831
12,726   7,888 4,838
15,041   10,671 4,370
9,880   7,086 2,794
3,425   2,673 752
9,914   6,982 2,932
6,331   5,200 1,131
1,149   527 622
4,546   3,506 1,040
1,167   529 638
8,639   6,595 2,044
22,462   16,590 5,872
9,993   8,321 1,672
23,758   17,029 6,729
14,910   12,726 2,184
26,011   16,301 9,710
9,970   7,419 2,551
9,894   7,250 2,644
7,529   4,270 3,259
6,949   5,380 1,569
9,245   7,404 1,841
9,885   7,439 2,446
24,245   17,114 7,131
9,982   8,449 1,533
24,808   16,983 7,825
9,926   7,750 2,176
1,197   812 385
24,191   17,098 7,093
1,285   879 406
11,406   7,877 3,529
9,956   6,329 3,627
1,520   794 726
8,815   4,634 4,181
6,355   2,431 3,924
706   336 370
2,624   888 1,736
13,047   4,438 8,609
1,447   993 454
6,953   4,765 2,188
4,987   3,640 1,347
6,103   2,741 3,362
2,509   1,043 1,466
12,373   5,214 7,159
2,404   2,779 -375
2,166   1,871 295
2,536   2,139 397
3,518   3,563 -45
7,186   7,114 72
188   168 20
2,252   1,843 409
2,252   1,874 378
563   590 -27
2,970   3,112 -142
4,117   3,834 283
2,038   1,424 614
2,350   1,692 658
3,195   1,774 1,421
2,044   1,265 779
2,453   1,614 839
3,362   2,437 925
2,542   2,042 500
2,232   1,835 397
3,020   2,341 679
2,282   1,827 455
3,161   3,948 -787
1,581   2,003 -422
2,089   2,443 -354
4,754   3,955 799
24   16 8
216   148 68
72   74 -2
72   74 -2
3,821   3,700 121
2,936   1,977 959
1,842   1,318 524
1,925   1,461 464
2,152   1,704 448
3,102   1,876 1,226
4,665   3,950 715
2,429   1,636 793
3,986   2,482 1,504
1,287   1,146 141
4,257   2,843 1,414
5,077   3,949 1,128
4,594   3,933 661
2,110   1,891 219
2,178   1,955 223
4,357   3,932 425
2,627   1,899 728
2,994   2,120 874
2,537   3,928 -1,391
1,293   2,020 -727
1,464   2,209 -745
2,815   1,947 868
2,706   2,043 663
2,365   2,010 355
5,805   3,359 2,446
28,123   28,000 123
75   75 0
14,342   14,326 16
14,784   14,800 -16
28,113   28,000 113
59   59 0
14,450   14,407 43
14,785   14,800 -15
2,729   2,700 29
27,430   16,428 11,002
26,791   16,207 10,584
50,000   28,814 21,186
106,276   75,068 31,208
17,191   46,000 -28,809
20,000   9,280 10,720
24,847   24,456 391
61,600   40,525 21,075
10,088   10,444 -356
16,544     16,544
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       2,257
b       1,232
c       1,583
d       -107
e       0
      0
      1,779
      1,799
      5,139
      1,212
      1,643
      2,597
      530
      52
      3,767
      3,324
      336
      172
      2,619
      3,634
      4,579
      9,817
      748
      831
      4,838
      4,370
      2,794
      752
      2,932
      1,131
      622
      1,040
      638
      2,044
      5,872
      1,672
      6,729
      2,184
      9,710
      2,551
      2,644
      3,259
      1,569
      1,841
      2,446
      7,131
      1,533
      7,825
      2,176
      385
      7,093
      406
      3,529
      3,627
      726
      4,181
      3,924
      370
      1,736
      8,609
      454
      2,188
      1,347
      3,362
      1,466
      7,159
      -375
      295
      397
      -45
      72
      20
      409
      378
      -27
      -142
      283
      614
      658
      1,421
      779
      839
      925
      500
      397
      679
      455
      -787
      -422
      -354
      799
      8
      68
      -2
      -2
      121
      959
      524
      464
      448
      1,226
      715
      793
      1,504
      141
      1,414
      1,128
      661
      219
      223
      425
      728
      874
      -1,391
      -727
      -745
      868
      663
      355
      2,446
      123
      0
      16
      -16
      113
      0
      43
      -15
      29
      11,002
      10,584
      21,186
      31,208
      -28,809
      10,720
      391
      21,075
      -356
      16,544
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 2 296,122
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 23,019 1,931,694 0.011916
2012 29,510 712,687 0.041407
2011 61,900 718,657 0.086133
2010 91,108 671,399 0.135699
2009 33,050 589,160 0.056097
2 Total of line 1, column (d) ...................... 2 0.331252
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 0.066250
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 2,420,847
5 Multiply line 4 by line 3....................... 5 160,381
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 3,550
7 Add lines 5 and 6......................... 7 163,931
8 Enter qualifying distributions from Part XII, line 4.............. 8 126,551
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 7,100
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 7,100
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 7,100
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 1,600
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 2,600
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,200
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 1
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 2,901
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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)
    bulletIN
    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 addressbulletN/A
    14
    The books are in care ofbulletCAROLYN J PALMER Telephone no.bullet (317) 574-0621
    Located atbullet33 TWINSHORE CTCARMELIN ZIP+4bullet46033
    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
     
     
    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
     
    No
    .........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
    ELDON D PALMER DIRECTOR
    0.50     		0 0 0
    7965 WESTFIELD ROAD
    INDIANAPOLIS,IN46240
    M ELAINE PALMER DIRECTOR
    0.50     		0 0 0
    7965 WESTFIELD ROAD
    INDIANAPOLIS,IN46240
    DONALD L PALMER DIRECTOR
    0.50     		0 0 0
    33 TWINSHORE COURT
    CARMEL,IN46033
    CAROLYN J PALMER DIRECTOR
    0.50     		0 0 0
    33 TWINSHORE COURT
    CARMEL,IN46033
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (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.........................bullet0
    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
    2,314,355
    b
    Average of monthly cash balances.......................
    1b
    143,358
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,457,713
    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
    2,457,713
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    36,866
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,420,847
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    121,042
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    121,042
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    7,100
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,100
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    113,942
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    113,942
    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
    113,942
    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
    126,551
    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
     
    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
    126,551
    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
    126,551
    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 7 113,942
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010....... 36,484
    c From 2011....... 26,699
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 63,183
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 126,551
    a Applied to 2013, but not more than line 2a 0
    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..... 113,942
    e Remaining amount distributed out of corpus 12,609
    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 75,792
    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 ..........     		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) .......     		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 ......     		75,792
    10 Analysis of line 9:
    a Excess from 2010.... 36,484
    b Excess from 2011.... 26,699
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014.... 12,609
    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).)
    DONALD L PALMER
    CAROLYN J PALMER
    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:
    DONALDCAROLYN PALMER
    33 TWINSHORE CT
    CARMEL,IN46033
    (317) 846-5555
    bThe form in which applications should be submitted and information and materials they should include:
    NO SPECIAL FORM.
    cAny submission deadlines:
    NO SPECIFIC DEADLINES.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO RESTRICTIONS.
    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
    ANCHORS AWAYROCK ORGANIZATION INC
    13232 OLD MERIDIAN ST
    CARMEL,IN46032     		NONE PC GENERAL SUPPORT 3,250
    BELLARMINE UNIVERSITY
    2001 NEWBURG RD
    LOUISVILLE,KY40205     		NONE PC GENERAL SUPPORT 1,000
    BOY SCOUTS OF AMERICA
    7125 FALL CREEK RD
    INDIANAPOLIS,IN46256     		NONE PC GENERAL SUPPORT 300
    BROWN COUNTY ART GALLERY
    PO BOX 443
    NASHVILLE,IN47448     		NONE PC GENERAL SUPPORT 1,000
    CAMPUS CRUSADE FOR CHRIST
    100 LAKE HART DR 3500
    ORLANDO,FL32832     		NONE PC GENERAL SUPPORT 2,000
    CHRISTIAN THEOLOGY SEMINARY
    1000 W 42ND ST
    INDIANAPOLIS,IN46208     		NONE PC GENERAL SUPPORT 1,000
    COMMUNITY CARING AND SHARING INC
    2830 S HOLT RD
    INDIANAPOLIS,IN46241     		NONE PC GENERAL SUPPORT 6,000
    EMPART USA
    15455 GLENEAGLE DR STE 100
    COLORADO SPRINGS,CO80921     		NONE PC GENERAL SUPPORT- CHRIST'S KINGDOM IN NORTH INDIA 15,000
    FORGOTTEN VOICES
    PO BOX 1368
    MECHANICSBURG,PA17055     		NONE PC GENERAL SUPPORT 10,000
    GOODWILL INDUSTRIES FOUNDATION
    1635 W MICHIGAN ST
    INDIANAPOLIS,IN46222     		NONE PC GENERAL SUPPORT 2,000
    HERRON SCHOOL OF ART AND DESIGN
    340 W MICHIGAN ST
    INDIANAPOLIS,IN46202     		NONE PC GENERAL SUPPORT 1,000
    KIPP INDY
    1740 E 30TH ST
    INDIANAPOLIS,IN46218     		NONE PC GENERAL SUPPORT 6,900
    NATIONAL CHRISTIAN FOUNDATION
    70 E 91ST STREET STE 101
    INDIANAPOLIS,IN46240     		NONE PC GENERAL SUPPORT OF BEAR LAKE FUND 30,601
    OPPORTUNITY INTERNATIONAL
    PO BOX 3695
    OAK BROOK,IL60522     		NONE PC GENERAL SUPPORT 5,000
    OUTREACH INC
    3102 E 10TH ST
    INDIANAPOLIS,IN46201     		NONE PC GENERAL SUPPORT 3,000
    SAGAMORE INSTITUTE
    2301 NORTH PARK AVE
    INDIANAPOLIS,IN46205     		NONE PC GENERAL SUPPORT 13,500
    SHEPHERD COMMUNITY TECH BAND
    4107 E WASHINGTON ST
    INDIANAPOLIS,IN46201     		NONE PC TECH BAND 3,500
    TECH YOUNG LIFE
    PO BOX 520
    COLORADO SPRINGS,CO80901     		NONE PC GENERAL SUPPORT 500
    UNIVERSITY OF THE NATIONS- KONA FOUNDATION
    75-5851 KUAKINI HWY 433
    KAILUA KONA,HI98335     		NONE SO III FI GENERAL SUPPORT 6,000
    WHEELER MISSION
    205 E NEW YORK ST
    INDIANAPOLIS,IN46204     		NONE PC GENERAL SUPPORT 2,500
    WYCLIFFE BIBLE TRANSLATORS
    PO BOX 628211
    ORLANDO,FL32862     		NONE PC GENERAL SUPPORT 8,000
    YMCA
    615 N ALABAMA ST
    INDIANAPOLIS,IN46204     		NONE PC GENERAL SUPPORT 2,500
    YOUNG LIFE RACEWAY REGION
    PO BOX 520
    COLORADO SPRINGS,CO80901     		NONE PC GENERAL SUPPORT 2,000
    Total .................................bullet 3a 126,551
    bApproved for future payment
    Total .................................bullet 3b 0
    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 11  
    4 Dividends and interest from securities....     14 68,493  
    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.....     14 13,600  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 296,122  
    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).. 0 378,226 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13378,226
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    THE PALMER FAMILY FOUNDATION
     
    Employer identification number

    35-6691822
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    THE PALMER FAMILY FOUNDATION
          		Employer identification number

    35-6691822
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    DONALD CAROLYN PALMER  
    33 TWINSHORE COURT
     
    CARMEL, IN46033

    		$399,737


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    PALMER PROPERTIES LLC  
    2929 SOUTH HOLT ROAD
     
    INDIANAPOLIS, IN46241

    		$200,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    THE PALMER FAMILY FOUNDATION
          		Employer identification number

    35-6691822
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 STOCK DONATION WITH COST OF $278,961 AND FAIR MARKET VALUE OF $399,737 $ 399,737 2014-12-29
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    THE PALMER FAMILY FOUNDATION
          		Employer identification number

    35-6691822
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 AccountingFeesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEES 2,500 0   0

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Name of Stock End of Year Book Value End of Year Fair Market Value
    DAIMLER CHRYSLER 1 223,468
    FMI LARGE CAP FUND 22,187 27,506
    SPARTAN 500 INDEX FD ADVANTAGE 20,131 32,768
    CAUSEWAY INTERNATIONAL VALUE 23,588 25,678
    VANGUARD INDEX TRUST S&P 500 0 0
    DODGE & COX STOCK 23,551 43,254
    HARDING LOEVNER EMERGING MARKETS 11,700 21,749
    BARON SMALL CAP FUND 0 0
    PIMCO TOTAL RETURN FUND 0 0
    PIMCO COMMODITY REAL RETURN 0 0
    VIRTUS REAL ESTATE SECURITIES 7,537 18,521
    MAINSTAY LARGE CAP GROWTH 0 0
    SPARTAN 500 INDEX FD ADVANTAGE 34,590 57,969
    CAUSEWAY INTERNATIONAL VALUE 93,230 98,290
    HUBER CAPITAL SMALL 21,393 22,586
    UBS AG JERSEY 14,513 15,063
    AQR MANAGED FUTURES FUND 28,100 29,990
    DODGE & COX INCOME 24,847 24,739
    OAKMARK SELECT 26,000 25,612
    HARTFORD WORLD BOND FUND 28,100 27,626
    IVA WORLDWIDE FUND 32,100 31,103
    JP MORGAN INFLATION MANAGED BOND SELECT 17,600 17,514
    MATTHEW ASIAN GROWTH AND INCOME 16,900 16,443
    ROBECO BOSTON PRTNS LG 27,000 27,106
    RS GLOBAL NATURAL RESOURCES FUND 15,000 10,573
    SCHWAB FUNDEMENTAL US LARGE 41,900 44,769
    WHITEBOX TACTICAL OPORTUNITIES 27,000 27,135
    ABBVIE INC. 8,498 11,256
    AEGON NV ADR 0 0
    ALTRIA GROUP INC. 2,611 3,794
    AMEREN CORP 5,960 8,396
    APPLE INC. 6,363 11,480
    AT&T 7,733 7,323
    BAXTER INTL 7,622 7,622
    BCE INC. 7,731 8,025
    BRISTOL MYERS SQUIBB CO. 4,334 7,733
    CHEVRON CORP 12,693 11,891
    CISCO SYS INC 10,487 11,654
    DOMINION RES INC 7,524 8,459
    DU PONT EL DE NEMOURS & CO. 5,124 7,912
    DUKE ENERGY CORP. 7,621 9,524
    EDISON INTERNATIONAL 7,062 9,887
    FORD MOTOR CO. 7,721 7,278
    FREEPORT MCMORAN CP&GLD 0 0
    GLAXOSMITHKLINE PLC ADS 0 0
    JOHNSON & JOHNSON 5,445 7,634
    JP MORGAN CHASE & CO. 10,750 12,516
    KIMBERLY CLARK CORP 2,730 3,813
    KRAFT FOODS 6,792 8,146
    LAMAR ADVERTISING 7,701 7,992
    LAS VEGAS SANDS 3,796 3,955
    LOCKHEED MARTIN CORP 5,968 12,710
    LORILLARD INC. 0 0
    LYONDELLBASELL NV 6,311 8,495
    MCDONALDS CORP 7,953 7,777
    MERCK & CO 7,254 7,383
    MICROSOFT CORP 8,021 11,287
    NEXTERA ENERGY INC. 9,951 12,011
    PAYCHEX INC. 0 0
    PFIZER INC. 10,891 12,273
    PG&E 6,849 8,731
    PHILIP MORRIS INTL. 12,118 11,159
    PRUDENTIAL FINANCIAL 7,852 8,232
    PPL CORPORATION 0 0
    REYNOLDS AMERICAN INC. 0 0
    ROYAL DUTCH SHELL PLC 8,192 8,102
    SEADRILL LTD 0 0
    SEAGATE TECHNOLOGY 6,849 9,177
    SEMPRA ENERGY 9,184 11,916
    SUN LIFE FINL SVCS CDA INC. 6,009 7,717
    TELUS CORP 6,852 7,280
    TOTAL S A SPON ADR 8,419 7,270
    WELLS FARGO & CO. 6,632 8,333
    WILLIAMS CO INC. 6,987 8,224
    ISHARES MORTGAGE RE EST CP ETF 7,514 7,307
    ISHARES SELECT DIVIDEND ETF 18,807 19,691
    ISHARES US TELECOMM ETF 0 0
    UTILITIES SEL SECT SPDR FUND 6,193 7,744
    VANGUARD DIVIDEND APPRECIATION 6,049 7,710
    JP MORGAN ALERIAN MLP INDEX 190,517 209,670
    SPDR TRUST SERIES I 104,393 102,770
    COLUMBIA ACORN EMERGING MARKETS 14 13
    GUGGENHEIM FLOATIG RE STRAT 70,891 69,067
    LORD ABB 101,834 100,143
    LORD ABBETT SHT DURATION INC 70,379 68,507
    NUVEEN SYM FLOATING RT 204,816 199,072
    PRINCIPAL PREFERRED SEC A 102,715 100,112
    PRUDENTIAL SHT TRM CORP 67,715 65,089
    JP MORGAN ALERIAN MLP INDEX 78,647 75,726
    ISHARES SELECT DIVIDEND ETF 121,590 133,867
    SPDR TRUST SERIES I 103,989 102,770
    COLUMBIA ACORN EMERGING MARKETS 14 13
    GUGGENHEIM FLOATIG RE STRAT 50,745 49,735
    LORD ABBETT SHT DURATION INC 100,882 99,546
    NUVEEN SYM FLOATING RT 50,715 49,748
    PRINCIPAL PREFERRED SEC A 99,421 99,823
    EV FLOATING RATE I 0 0
    FIDELITY ADV FLTG RT 0 0
    LORD ABBETT SHT DURATION 0 0
    PRINCIPAL PREFERRED SEC A 0 0
    PRUDENTIAL SHT TRM CORP 0 0
    RS FLOATING RATE Y 0 0
    APPLE INC. 0 0
    BRISTOL MYERS SQUIBB CO. 0 0
    JOHNSON & JOHNSON 0 0
    KIMBERLY CLARK CORP 0 0
    LOCKHEED MARTIN CORP 0 0
    MICROSOFT CORP 0 0
    PAYCHEX INC. 0 0
    SEMPRA ENERGY 0 0
    SUN LIFE FINL SVCS CDA INC. 0 0

    TY 2014 OtherDecreasesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Description Amount
       
       


    TY 2014 OtherExpensesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BROKERAGE FEES 20,685 20,685   0


    TY 2014 OtherIncomeSchedule2
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    INVESTMENTS RECEIPTS 13,600 13,600 13,600


    TY 2014 OtherIncreasesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Description Amount
       


    TY 2014 OtherLiabilitiesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Description Beginning of Year - Book Value End of Year - Book Value
    CALL STANDARD & POORS 0 2,035
    CALL STANDARD & POORS 0 1,785
    DUE TO PALMER PROPERTIES 0 400


    TY 2014 TaxesSchedule
    Name:
    THE PALMER FAMILY FOUNDATION
    EIN: 35-6691822
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 2,557 2,557   0
    TAXES 2,534 0   0