TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information 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 HOWE FAMILY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)2542 MANITOU ISLAND Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WHITE BEAR LAKE, MN55110

A Employer identification number

94-3458940

B Telephone number (see instructions)

(651) 699-6868

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$835,998J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	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)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	14,748		14,748
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-169
b	Gross sales price for all assets on line 6a 3,921,567
7	Capital gain net income (from Part IV, line 2)...			0
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........	14,579		14,748	0
13	Compensation of officers, directors, trustees, etc.	0		0	0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		15,508	12,508	0	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,702	1,702	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		520	0	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	17,730		14,210	0	0
25	Contributions, gifts, grants paid........	41,835				41,835
26	Total expenses and disbursements. Add lines 24 and 25	59,565		14,210	0	41,835
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-44,986
b	Net investment income (if negative, enter -0-)			538
c	Adjusted net income (if negative, enter -0-)...				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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	18,189	835,998	835,998
	2	Savings and temporary cash investments..........	852,324
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts	436	0	0
	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)........
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	870,949	835,998	835,998
	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)......		9,657
	22	Other liabilities (describe )	3,122	3,500
	23	Total liabilities (add lines 17 through 22)..........	3,122	13,157
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		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	867,827	822,841
	30	Total net assets or fund balances (see instructions)......	867,827	822,841
	31	Total liabilities and net assets/fund balances (see instructions)..	870,949	835,998

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	867,827
2	Enter amount from Part I, line 27a.....................	2	-44,986
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	822,841
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	822,841

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	1208.000 FIDELITY MSCI CONSUMER DISCRETIONARY IND	P	2014-09-10	2014-10-30
b	145.000 FIDELITY MSCI CONSUMER DISCRETIONARY IND	P	2014-10-01	2014-10-30
c	437.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-06-25	2014-09-10
d	144.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-06-25	2014-11-28
e	668.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-06-25	2014-12-03
	400.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-08-06	2014-12-03
	110.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-10-01	2014-12-03
	199.000 FIDELITY MSCI CONSUMER STAPLES INDEX ETF	P	2014-10-30	2014-12-03
	771.000 FIDELITY MSCI ENERGY INDEX ETF	P	2014-04-30	2014-06-25
	356.000 FIDELITY MSCI ENERGY INDEX ETF	P	2014-04-30	2014-09-10
	820.000 FIDELITY MSCI ENERGY INDEX ETF	P	2014-04-30	2014-10-01
	391.000 FIDELITY MSCI ENERGY INDEX ETF	P	2014-08-06	2014-10-01
	774.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-04-30	2014-06-25
	438.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-04-30	2014-09-10
	125.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-04-30	2014-11-28
	691.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-04-30	2014-12-03
	392.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-08-06	2014-12-03
	126.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-10-01	2014-12-03
	205.000 FIDELITY MSCI FINLS INDEX ETF	P	2014-10-30	2014-12-03
	419.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-06-25	2014-09-10
	112.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-06-25	2014-11-28
	631.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-06-25	2014-12-03
	298.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-08-06	2014-12-03
	43.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-08-06	2014-12-03
	111.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-10-01	2014-12-03
	146.000 FIDELITY MSCI HEALTH CARE INDEX ETF	P	2014-10-30	2014-12-03
	716.000 FIDELITY MSCI INDL INDEX ETF	P	2014-04-30	2014-06-25
	1207.000 FIDELITY MSCI INDL INDEX ETF	P	2014-04-30	2014-08-06
	143.000 FIDELITY MSCI INDL INDEX ETF	P	2014-09-10	2014-11-28
	1047.000 FIDELITY MSCI INDL INDEX ETF	P	2014-09-10	2014-12-03
	146.000 FIDELITY MSCI INDL INDEX ETF	P	2014-10-01	2014-12-03
	196.000 FIDELITY MSCI INDL INDEX ETF	P	2014-10-30	2014-12-03
	759.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-04-30	2014-06-25
	404.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-04-30	2014-09-10
	159.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-04-30	2014-11-28
	612.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-04-30	2014-12-03
	319.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-08-06	2014-12-03
	122.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-10-01	2014-12-03
	213.000 FIDELITY MSCI INFORMATION TECHNOLOGY IND	P	2014-10-30	2014-12-03
	755.000 FIDELITY MSCI MATLS INDEX ETF	P	2014-04-30	2014-06-25
	392.000 FIDELITY MSCI MATLS INDEX ETF	P	2014-04-30	2014-09-10
	807.000 FIDELITY MSCI MATLS INDEX ETF	P	2014-04-30	2014-10-30
	364.000 FIDELITY MSCI MATLS INDEX ETF	P	2014-08-06	2014-10-30
	139.000 FIDELITY MSCI MATLS INDEX ETF	P	2014-10-01	2014-10-30
	1192.000 FIDELITY MSCI UTILS INDEX ETF	P	2014-06-25	2014-08-06
	80.000 FIDELITY MSCI UTILS INDEX ETF	P	2014-10-30	2014-11-28
	100.000 FIDELITY MSCI UTILS INDEX ETF	P	2014-10-30	2014-12-03
	1279.000 FIDELITY MSCI UTILS INDEX ETF	P	2014-10-30	2014-12-03
	174.000 FIRST TR ISE WTR INDEX FD	P	2013-06-05	2014-01-29
	125.000 FIRST TR ISE WTR INDEX FD	P	2013-10-30	2014-01-29
	335.000 FIRST TR ISE WTR INDEX FD	P	2013-10-30	2014-03-14
	366.000 ISHARES CORE S&P MID-CAP ETF	P	2014-06-17	2014-07-16
	9.000 ISHARES CORE S&P MID-CAP ETF	P	2014-07-01	2014-07-16
	366.000 ISHARES CORE S&P MID-CAP ETF	P	2014-06-17	2014-08-01
	3.000 ISHARES CORE S&P MID-CAP ETF	P	2014-07-01	2014-08-01
	356.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-02	2014-10-01
	10.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-16	2014-10-01
	356.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-02	2014-10-16
	69.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-16	2014-10-16
	32.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-20	2014-11-28
	32.000 ISHARES CORE S&P MID-CAP ETF	P	2014-09-20	2014-12-03
	393.000 ISHARES CORE S&P MID-CAP ETF	P	2014-10-04	2014-12-03
	16.000 ISHARES CORE S&P MID-CAP ETF	P	2014-11-03	2014-12-03
	433.000 ISHARES CORE S&P MID-CAP ETF	P	2014-11-18	2014-12-03
	248.000 ISHARES CORE S&P 500 ETF	P	2014-03-14	2014-05-20
	269.000 ISHARES CORE S&P 500 ETF	P	2014-03-14	2014-07-01
	255.000 ISHARES CORE S&P 500 ETF	P	2014-07-16	2014-08-18
	6.000 ISHARES CORE S&P 500 ETF	P	2014-07-16	2014-09-02
	255.000 ISHARES CORE S&P 500 ETF	P	2014-07-16	2014-09-02
	5.000 ISHARES CORE S&P 500 ETF	P	2014-08-01	2014-09-02
	296.000 ISHARES CORE S&P 500 ETF	P	2014-09-16	2014-10-16
	2.000 ISHARES CORE S&P 500 ETF	P	2014-10-01	2014-10-16
	22.000 ISHARES CORE S&P 500 ETF	P	2014-09-16	2014-11-28
	274.000 ISHARES CORE S&P 500 ETF	P	2014-09-16	2014-12-03
	32.000 ISHARES CORE S&P 500 ETF	P	2014-09-16	2014-12-03
	32.000 ISHARES CORE S&P 500 ETF	P	2014-10-01	2014-12-03
	280.000 ISHARES CORE S&P 500 ETF	P	2014-11-18	2014-12-03
	521.000 ISHARES GOLD TRUST ISHARES	P	2013-06-05	2014-03-14
	333.000 ISHARES GOLD TRUST ISHARES	P	2014-03-05	2014-03-14
	222.000 ISHARES INC MSCI FRONTIER 100 ETF	P	2013-07-31	2014-03-14
	291.000 ISHARES INC MSCI FRONTIER 100 ETF	P	2013-08-28	2014-03-14
	124.000 ISHARES INTERMEDIATE GOVERNMENT CREDIT	P	2014-03-05	2014-03-14
	46.000 ISHARES MBS ETF	P	2013-04-04	2014-01-21
	127.000 ISHARES MBS ETF	P	2013-04-08	2014-01-21
	139.000 ISHARES MBS ETF	P	2013-04-08	2014-03-14
	140.000 ISHARES MBS ETF	P	2013-10-22	2014-03-14
	16.000 ISHARES MBS ETF	P	2014-05-14	2014-12-03
	121.000 ISHARES MSCI ALL PERU CAPPED ETF	P	2013-06-14	2014-05-13
	134.000 ISHARES MSCI ALL PERU CAPPED ETF	P	2013-06-17	2014-05-13
	56.000 ISHARES MSCI ALL PERU CAPPED ETF	P	2013-06-18	2014-05-13
	202.000 ISHARES MSCI ALL PERU CAPPED ETF	P	2013-06-19	2014-05-13
	283.000 ISHARES MSCI AUSTRALIA ETF	P	2014-06-23	2014-07-21
	159.000 ISHARES MSCI BRAZIL ETF	P	2014-04-16	2014-08-08
	15.000 ISHARES MSCI BRAZIL ETF	P	2014-04-16	2014-08-26
	154.000 ISHARES MSCI BRAZIL ETF	P	2014-05-30	2014-08-26
	188.000 ISHARES MSCI HONG KONG ETF	P	2014-01-30	2014-02-24
	716.000 ISHARES MSCI JAPAN ETF	P	2014-01-14	2014-06-23
	404.000 ISHARES MSCI JAPAN ETF	P	2014-02-24	2014-06-23
	260.000 ISHARES MSCI JAPAN ETF	P	2014-04-04	2014-06-23
	516.000 ISHARES MSCI MALAYSIA FREE ETF	P	2014-10-23	2014-12-03
	607.000 ISHARES MSCI SINGAPORE ETF	P	2014-01-23	2014-08-08
	60.000 ISHARES MSCI SINGAPORE ETF	P	2014-01-23	2014-12-03
	317.000 ISHARES MSCI SINGAPORE ETF	P	2014-03-06	2014-12-03
	8.000 ISHARES MSCI SINGAPORE ETF	P	2014-04-04	2014-12-03
	200.000 ISHARES MSCI SINGAPORE ETF	P	2014-04-04	2014-12-03
	148.000 ISHARES MSCI SOUTH KOREA CAPPED ETF	P	2013-11-08	2014-04-04
	102.000 ISHARES MSCI SPAIN CAPPED ETF	P	2014-01-28	2014-02-24
	409.000 ISHARES MSCI UNITED KINGDOM	P	2013-12-16	2014-02-24
	212.000 ISHARES MSCI UNITED KINGDOM	P	2014-01-28	2014-02-24
	412.000 ISHARES RUSSELL 2000 ETF	P	2014-03-14	2014-05-01
	408.000 ISHARES RUSSELL 2000 ETF	P	2014-03-14	2014-05-20
	408.000 ISHARES RUSSELL 2000 ETF	P	2014-04-11	2014-07-16
	32.000 ISHARES RUSSELL 2000 ETF	P	2014-06-17	2014-07-16
	4.000 ISHARES RUSSELL 2000 ETF	P	2014-06-17	2014-08-01
	440.000 ISHARES RUSSELL 2000 ETF	P	2014-06-17	2014-08-01
	11.000 ISHARES RUSSELL 2000 ETF	P	2014-07-01	2014-08-01
	440.000 ISHARES RUSSELL 2000 ETF	P	2014-09-02	2014-10-01
	334.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-01-23
	65.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-01-28
	152.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-04
	280.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-06
	48.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-06
	56.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-14
	228.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-14
	48.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-03-14
	168.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-07-23	2014-03-14
	267.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-07-24	2014-03-14
	379.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-08-08	2014-03-14
	28.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-10-22	2014-03-14
	25.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-10-22	2014-04-16
	92.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-10-22	2014-05-06
	65.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-10-22	2014-05-30
	25.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-11-03	2014-10-23
	535.000 ISHARES TRUST FLOATING RATE BD ETF	P	2014-02-04	2014-12-03
	156.000 ISHARES TRUST FLOATING RATE BD ETF	P	2014-07-21	2014-12-03
	285.000 ISHARES TRUST FLOATING RATE BD ETF	P	2014-08-08	2014-12-03
	22.000 ISHARES U S HEALTHCARE ETF	P	2013-08-28	2014-04-30
	26.000 ISHARES U S HEALTHCARE ETF	P	2013-09-25	2014-04-30
	45.000 ISHARES U S HEALTHCARE ETF	P	2014-01-29	2014-04-30
	148.000 ISHARES U S HEALTHCARE ETF	P	2014-03-14	2014-04-30
	23.000 ISHARES U S INDUSTRIALS ETF	P	2013-08-28	2014-04-30
	24.000 ISHARES U S INDUSTRIALS ETF	P	2013-09-25	2014-04-30
	64.000 ISHARES U S INDUSTRIALS ETF	P	2014-01-29	2014-04-30
	189.000 ISHARES U S INDUSTRIALS ETF	P	2014-03-14	2014-04-30
	486.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-08-01	2014-09-02
	486.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-08-30	2014-11-03
	191.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-10-01	2014-11-03
	486.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-08-30	2014-11-18
	87.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-10-01	2014-11-18
	901.000 ISHARES 1-3 YEAR TREASURY BOND ETF	P	2014-10-16	2014-11-18
	218.000 ISHARES 3-7 YEAR TREASURY BOND ETF	P	2014-08-01	2014-09-02
	515.000 ISHARES 7-10 YEAR TREASURY BOND ETF	P	2014-05-01	2014-06-17
	496.000 ISHARES 7-10 YEAR TREASURY BOND ETF	P	2014-05-20	2014-06-17
	507.000 ISHARES 7-10 YEAR TREASURY BOND ETF	P	2014-05-01	2014-07-01
	502.000 ISHARES 7-10 YEAR TREASURY BOND ETF	P	2014-06-18	2014-09-16
	509.000 ISHARES 7-10 YEAR TREASURY BOND ETF	P	2014-08-18	2014-09-16
	573.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-04-04	2014-03-14
	630.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-12-03	2014-12-03
	127.000 PIMCO ETF TR ENHANCED SHORT MATURITY STR	P	2013-06-26	2014-03-05
	12.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-03-04
	280.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-03-14
	19.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2014-05-14	2014-12-03
	975.000 PROSHARES TR II VIX SHORT TERM FUTURES	P	2013-10-22	2014-02-04
	448.000 PROSHARES TR II VIX SHORT TERM FUTURES	P	2013-11-11	2014-02-04
	337.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-05-01	2014-06-17
	485.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-05-20	2014-06-17
	337.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-05-01	2014-07-01
	64.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-05-20	2014-07-01
	396.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-06-18	2014-09-16
	418.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2004-08-18	2014-09-16
	122.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-07-03	2014-11-03
	34.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-07-18	2014-11-03
	295.000 PROSHARES TR PROSHARES ULTRA 7-10 YR TREASURY	P	2014-09-17	2014-11-18
	301.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-06-17	2014-07-16
	9.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-07-01	2014-07-16
	301.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-06-17	2014-08-01
	6.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-07-01	2014-08-01
	287.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-09-02	2014-10-01
	24.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-09-16	2014-10-01
	205.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-09-02	2014-10-16
	66.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-09-20	2014-12-03
	97.000 PROSHARES ULTRA MIDCAP 400 PROSHARES	P	2014-11-18	2014-12-03
	311.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-03-14	2014-05-01
	310.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-03-14	2014-05-20
	240.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-04-11	2014-07-16
	4.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-04-11	2014-08-01
	240.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-04-11	2014-08-01
	13.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-07-01	2014-08-01
	241.000 PROSHARES ULTRA RUSSELL 2000 PROSHARES	P	2014-09-02	2014-10-01
	340.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-03-14	2014-05-20
	192.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-03-14	2014-07-01
	179.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-07-16	2014-08-18
	1.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-07-16	2014-09-02
	179.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-07-16	2014-09-02
	10.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-08-01	2014-09-02
	116.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-09-16	2014-10-16
	16.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-10-01	2014-10-16
	47.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-09-16	2014-12-03
	45.000 PROSHARES ULTRA S&P 500 PROSHARES	P	2014-11-18	2014-12-03
	415.000 SECTOR SPDR TR SHS BEN INT CONSUMPER STAP	P	2014-01-02	2014-01-29
	158.000 SECTOR SPDR TR SHS BEN INT CONSUMPER STAP	P	2014-03-06	2014-03-14
	20.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2013-08-28	2014-04-30
	36.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2013-09-25	2014-04-30
	74.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2014-01-29	2014-04-30
	218.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2014-03-14	2014-04-30
	126.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2013-08-28	2014-04-30
	140.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2013-09-25	2014-04-30
	291.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2014-01-21	2014-04-30
	304.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2014-01-29	2014-04-30
	540.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2014-03-14	2014-04-30
	203.000 SECTOR SPDR TR SHS BEN INT INDUSTRIAL	P	2014-01-21	2014-03-14
	74.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2013-07-31	2014-01-02
	376.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2013-07-31	2014-04-30
	56.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2013-08-28	2014-04-30
	88.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2013-09-25	2014-04-30
	178.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2014-01-29	2014-04-30
	519.000 SECTOR SPDR TR SHS BEN INT TECHNOLOGY	P	2014-03-14	2014-04-30
	169.000 SECTOR SPDR TR SHS BEN INT UTILITIES	P	2014-03-06	2014-03-14
	36.000 SELECT SECTOR SPDR TR CONSUMER DISCRETION	P	2013-08-28	2004-01-29
	41.000 SELECT SECTOR SPDR TR CONSUMER DISCRETION	P	2013-09-25	2004-01-29
	58.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2013-06-26	2014-04-30
	41.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2013-08-28	2014-04-30
	56.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2013-09-25	2014-04-30
	141.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2014-01-21	2014-04-30
	147.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2014-01-29	2014-04-30
	404.000 SELECT SECTOR SPDR TR SHS BEN INT MATRRIAL	P	2014-03-14	2014-04-30
	263.000 SPDR INDEX SHS FDS S&P WORLD EX US ETF	P	2013-08-28	2004-01-29
	318.000 SPDR INDEX SHS FDS S&P WORLD EX US ETF	P	2013-08-28	2014-03-05
	483.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-03-04	2014-03-14
	66.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-03-04	2014-11-28
	397.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-03-04	2014-12-03
	483.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-03-16	2014-12-03
	262.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-03-26	2014-12-03
	309.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-05-06	2014-12-03
	120.000 SPDR SERIES TRUST SHORT TERM HIGH YIELD	P	2014-05-14	2014-12-03
	133.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-08	2014-01-28
	47.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-08	2014-01-30
	33.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-08	2014-03-04
	31.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-13	2014-03-04
	130.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-15	2014-03-04
	3.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-15	2014-03-14
	194.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-04-15	2014-03-14
	16.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-05-03	2014-03-14
	249.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-07-12	2014-03-14
	34.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-07-23	2014-03-14
	58.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-07-23	2014-03-26
	12.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-07-23	2014-03-26
	67.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2013-07-24	2014-03-26
	23.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2014-05-14	2014-12-03
	92.000 VANGUARD BD INDEX FD INC SHORT TERM BD	P	2014-08-26	2014-12-03
	22.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2014-05-14	2014-12-03
	266.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2013-04-04	2014-03-14
	52.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2013-04-08	2014-03-14
	94.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2013-04-08	2014-03-26
	220.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2013-10-22	2014-03-26
	62.000 ISHARES GOLD TRUST ISHARES	P	2012-10-17	2014-03-14
	346.000 ISHARES GOLD TRUST ISHARES	P	2012-10-19	2014-03-14
	127.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-03-14
	26.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-03-14
	134.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-03-14
	42.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-04-04
	100.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-12-03
	93.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-23	2014-12-03
	34.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-10-25	2014-12-03
	22.000 ISHARES INC EMERGING MKTS HIGH YIELD BD	P	2012-12-05	2014-12-03
	85.000 ISHARES MBS ETF	P	2012-10-17	2014-01-21
	27.000 ISHARES MBS ETF	P	2012-10-17	2014-01-21
	11.000 ISHARES MBS ETF	P	2012-10-17	2014-01-21
	30.000 ISHARES MBS ETF	P	2012-10-25	2014-01-21
	2.000 ISHARES MBS ETF	P	2012-12-05	2014-01-21
	24.000 ISHARES MBS ETF	P	2013-04-08	2014-11-28
	3.000 ISHARES MBS ETF	P	2013-04-08	2014-12-03
	194.000 ISHARES MBS ETF	P	2013-10-22	2014-12-03
	127.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-04-08	2014-04-16
	103.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-05-06	2014-05-30
	103.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-05-30	2014-10-23
	50.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-10-22	2014-10-23
	2.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-11-03	2014-11-28
	30.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-11-15	2014-11-28
	29.000 ISHARES TRUST FLOATING RATE BD ETF	P	2013-11-15	2014-12-03
	15.000 ISHARES U S HEALTHCARE ETF	P	2012-04-30	2014-01-02
	6.000 ISHARES U S HEALTHCARE ETF	P	2012-04-30	2014-04-30
	104.000 ISHARES U S HEALTHCARE ETF	P	2012-11-28	2014-04-30
	25.000 ISHARES U S INDUSTRIALS ETF	P	2012-12-27	2014-01-02
	136.000 ISHARES U S INDUSTRIALS ETF	P	2012-12-27	2014-04-30
	245.000 ISHARES 1-3 YEAR CREDIT BOND ETF	P	2013-02-06	2014-03-14
	600.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2012-11-15	2014-03-14
	92.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2012-11-15	2014-04-04
	100.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2012-11-15	2014-12-03
	27.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2012-11-15	2014-12-03
	59.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2012-12-05	2014-12-03
	347.000 MARKET VECTORS ETF TR EMERGING MKTS LOCAL	P	2013-08-08	2014-12-03
	37.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-04-04	2014-11-28
	253.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-04-04	2014-12-03
	406.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-04-16	2014-12-03
	283.000 MARKET VECTORS ETF TRUST EMERGING MKTS	P	2013-09-10	2014-12-03
	17.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-05-06
	14.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-11-28
	170.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-12-03
	18.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-04	2014-12-03
	17.000 PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD	P	2013-04-05	2014-12-03
	22.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2012-08-01	2014-01-02
	22.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2012-08-01	2014-04-30
	132.000 SECTOR SPDR TR SHS BEN INT ENERGY	P	2012-11-28	2014-04-30
	92.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2012-04-30	2014-01-02
	45.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2012-04-30	2014-04-30
	538.000 SECTOR SPDR TR SHS BEN INT FINANCIAL	P	2012-11-28	2014-04-30
	35.000 SELECT SECTOR SPDR TR CONSUMER DISCRETION	P	2012-04-30	2014-01-02
	22.000 SELECT SECTOR SPDR TR CONSUMER DISCRETION	P	2012-04-30	2014-01-29
	178.000 SELECT SECTOR SPDR TR CONSUMER DISCRETION	P	2012-11-28	2014-01-29
	56.000 SELECT SECTOR SPDR TR SHS BEN INT MATERIAL	P	2012-08-29	2014-01-02
	6.000 SELECT SECTOR SPDR TR SHS BEN INT MATERIAL	P	2012-08-29	2014-03-12
	162.000 SELECT SECTOR SPDR TR SHS BEN INT MATERIAL	P	2012-11-28	2014-03-12
	77.000 SELECT SECTOR SPDR TR SHS BEN INT MATERIAL	P	2012-11-28	2014-04-30
	22.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-04-29	2014-05-06
	40.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-05-04	2014-11-28
	22.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-05-07	2014-12-03
	33.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-05-24	2014-12-03
	19.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-07-24	2014-12-03
	161.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-07-24	2014-12-03
	150.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-07-29	2014-12-03
	25.000 VANGUARD BD INDEX FD INC SHORT TERM BD ETF	P	2013-08-13	2014-12-03
	21.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-03-07	2014-03-04
	327.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-03-07	2014-03-14
	27.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-03-21	2014-03-14
	22.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-03-21	2014-05-06
	8.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-03-21	2014-11-28
	10.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-05-01	2014-11-28
	8.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-10-17	2014-11-28
	221.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-10-17	2014-12-03
	26.000 VANGUARD SCOTTSDALE FDS INTERMEDIATE	P	2012-10-25	2014-12-03
	14.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2012-10-17	2014-03-04
	14.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2012-10-17	2014-03-14
	23.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2012-10-25	2014-03-14
	18.000 VANGUARD SCOTTSDALE FDS SHORT TERM CORP	P	2012-12-05	2014-03-14
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	32,882	33,389	-507
b	3,947	3,850	97
c	12,013	11,862	151
d	4,294	3,909	385
e	19,725	18,133	1,592
	11,811	10,621	1,190
	3,248	2,994	254
	5,876	5,595	281
	22,277	21,037	1,240
	9,792	9,713	79
	21,192	22,374	-1,182
	10,105	10,851	-746
	20,929	20,193	736
	12,081	11,427	654
	3,604	3,261	343
	19,914	18,027	1,887
	11,297	10,377	920
	3,631	3,389	242
	5,908	5,704	204
	12,893	12,244	649
	3,738	3,273	465
	21,128	18,438	2,690
	9,978	8,625	1,353
	1,440	1,245	195
	3,717	3,345	372
	4,889	4,666	223
	20,137	19,725	412
	32,245	33,251	-1,006
	4,166	4,012	154
	30,466	29,377	1,089
	4,248	3,915	333
	5,703	5,474	229
	21,931	20,781	1,150
	12,363	11,061	1,302
	5,107	4,353	754
	19,613	16,756	2,857
	10,223	9,303	920
	3,910	3,611	299
	6,826	6,402	424
	21,354	20,479	875
	11,156	10,633	523
	21,690	21,890	-200
	9,786	10,173	-387
	3,736	3,787	-51
	31,230	33,932	-2,702
	2,372	2,351	21
	2,963	2,939	24
	38,095	37,584	511
	5,571	4,890	681
	4,002	4,077	-75
	11,393	10,927	466
	51,532	51,532	0
	1,267	1,300	-33
	49,958	53,233	-3,275
	409	433	-24
	48,008	48,008	0
	1,349	1,425	-76
	46,460	46,460	0
	9,005	9,005	0
	4,640	4,640	0
	4,622	5,191	-569
	56,770	63,550	-6,780
	2,311	2,271	40
	62,548	62,298	250
	46,737	46,178	559
	53,397	50,088	3,309
	50,601	50,601	0
	1,210	1,196	14
	51,436	49,735	1,701
	1,009	971	38
	55,530	55,530	0
	375	392	-17
	4,601	4,601	0
	57,285	57,586	-301
	4,600	4,580	20
	6,690	6,267	423
	58,540	57,998	542
	6,960	7,095	-135
	4,448	4,319	129
	7,614	6,970	644
	9,981	8,921	1,060
	13,684	13,697	-13
	4,866	4,971	-105
	13,435	13,727	-292
	14,819	14,984	-165
	14,925	14,927	-2
	1,748	1,721	27
	4,194	4,403	-209
	4,645	4,915	-270
	1,941	2,059	-118
	7,002	7,407	-405
	7,545	7,562	-17
	7,621	7,409	212
	779	699	80
	7,993	7,165	828
	3,715	3,606	109
	8,649	8,571	78
	4,880	4,707	173
	3,141	2,950	191
	7,178	7,835	-657
	8,355	7,571	784
	786	748	38
	4,153	4,045	108
	105	105	0
	2,629	2,634	-5
	9,237	9,213	24
	4,064	3,931	133
	8,739	8,196	543
	4,530	4,316	214
	45,812	48,495	-2,683
	44,386	44,386	0
	46,657	46,657	0
	3,659	3,659	0
	442	469	-27
	48,587	57,871	-9,284
	1,215	1,325	-110
	47,386	51,626	-4,240
	16,930	16,915	15
	3,294	3,292	2
	7,702	7,698	4
	14,185	14,180	5
	2,432	2,432	0
	2,838	2,841	-3
	11,556	11,561	-5
	2,433	2,437	-4
	8,515	8,508	7
	13,532	13,524	8
	19,209	19,193	16
	1,419	1,419	0
	1,267	1,268	-1
	4,665	4,667	-2
	3,296	3,296	0
	1,268	1,269	-1
	27,095	27,124	-29
	7,900	7,923	-23
	14,434	14,481	-47
	2,677	2,290	387
	3,163	2,783	380
	5,475	5,257	218
	18,006	18,284	-278
	2,322	1,985	337
	2,423	2,191	232
	6,461	6,179	282
	19,079	18,847	232
	41,059	41,059	0
	41,123	41,123	0
	16,162	16,156	6
	41,143	41,293	-150
	7,365	7,359	6
	76,276	76,509	-233
	26,498	26,487	11
	52,732	52,732	0
	50,787	50,790	-3
	52,233	52,642	-409
	51,655	52,531	-876
	52,376	53,245	-869
	14,302	14,646	-344
	11,999	17,461	-5,462
	12,874	12,871	3
	1,283	1,257	26
	29,824	29,332	492
	1,959	2,033	-74
	33,727	33,872	-145
	15,497	14,582	915
	17,771	17,771	0
	25,576	25,684	-108
	17,993	18,195	-202
	3,417	3,453	-36
	21,219	21,219	0
	22,398	22,998	-600
	6,646	6,748	-102
	1,852	1,960	-108
	16,179	17,019	-840
	20,929	20,929	0
	626	660	-34
	19,645	22,306	-2,661
	392	440	-48
	18,322	19,057	-735
	1,532	1,704	-172
	12,229	15,054	-2,825
	4,797	5,985	-1,188
	7,050	7,011	39
	24,403	27,376	-2,973
	23,232	24,095	-863
	19,934	19,934	0
	309	400	-91
	18,561	26,001	-7,440
	1,005	1,190	-185
	17,750	20,996	-3,246
	35,791	34,813	978
	22,569	19,659	2,910
	20,963	20,963	0
	121	118	3
	21,646	20,327	1,319
	1,209	1,122	87
	12,194	13,298	-1,104
	1,682	1,837	-155
	6,111	6,147	-36
	5,851	5,752	99
	16,954	17,617	-663
	6,741	6,735	6
	1,872	1,653	219
	3,370	3,022	348
	6,928	6,222	706
	20,410	18,845	1,565
	2,764	2,461	303
	3,071	2,812	259
	6,382	6,380	2
	6,668	6,391	277
	11,844	11,818	26
	10,463	10,517	-54
	2,617	2,355	262
	13,694	11,968	1,726
	2,040	1,761	279
	3,205	2,848	357
	6,483	6,111	372
	18,902	18,524	378
	6,924	6,746	178
	2,256	2,081	175
	2,569	2,477	92
	2,759	2,239	520
	1,950	1,658	292
	2,664	2,378	286
	6,707	6,507	200
	6,992	6,472	520
	19,217	18,995	222
	7,369	6,957	412
	9,330	8,412	918
	14,921	14,921	0
	1,952	2,044	-92
	11,636	12,297	-661
	14,157	14,997	-840
	7,679	8,113	-434
	9,057	9,535	-478
	3,517	3,708	-191
	10,661	10,661	0
	3,772	3,772	0
	2,651	2,651	0
	2,490	2,490	0
	10,441	10,441	0
	241	241	0
	15,581	15,683	-102
	1,285	1,285	0
	19,998	19,958	40
	2,731	2,731	0
	4,641	4,660	-19
	960	967	-7
	5,361	5,375	-14
	1,845	1,849	-4
	7,378	7,379	-1
	1,893	1,897	-4
	21,285	21,397	-112
	4,161	4,186	-25
	7,503	7,567	-64
	17,560	17,598	-38
	828	1,046	-218
	4,622	5,677	-1,055
	6,245	6,966	-721
	1,279	1,423	-144
	6,590	7,310	-720
	2,114	2,291	-177
	4,900	5,456	-556
	4,557	5,074	-517
	1,666	1,862	-196
	1,078	1,210	-132
	8,992	9,236	-244
	2,856	2,936	-80
	1,164	1,208	-44
	3,174	3,258	-84
	212	216	-4
	2,631	2,590	41
	328	324	4
	21,192	20,684	508
	6,438	6,439	-1
	5,223	5,223	0
	5,225	5,241	-16
	2,536	2,536	0
	101	102	-1
	1,520	1,524	-4
	1,469	1,473	-4
	1,738	1,169	569
	730	468	262
	12,653	8,653	4,000
	2,499	1,803	696
	13,728	9,811	3,917
	25,852	25,875	-23
	13,731	15,683	-1,952
	2,161	2,398	-237
	2,195	2,580	-385
	596	697	-101
	1,303	1,552	-249
	7,665	8,338	-673
	918	1,000	-82
	6,129	6,835	-706
	9,835	11,199	-1,364
	6,855	7,069	-214
	1,814	1,781	33
	1,448	1,467	-19
	17,528	17,809	-281
	1,856	1,886	-30
	1,753	1,781	-28
	1,915	1,541	374
	2,060	1,541	519
	12,358	9,317	3,041
	1,998	1,355	643
	987	663	324
	11,800	8,419	3,381
	2,325	1,595	730
	1,379	1,003	376
	11,153	8,396	2,757
	2,568	2,001	567
	283	214	69
	7,650	5,882	1,768
	3,663	2,796	867
	1,764	1,764	0
	3,216	3,233	-17
	1,764	1,781	-17
	2,647	2,669	-22
	1,524	1,524	0
	12,912	12,918	-6
	12,030	12,048	-18
	2,005	2,002	3
	1,781	1,778	3
	27,794	27,689	105
	2,295	2,298	-3
	1,885	1,872	13
	694	681	13
	867	847	20
	694	710	-16
	19,019	19,612	-593
	2,237	2,296	-59
	1,122	1,130	-8
	1,120	1,130	-10
	1,840	1,853	-13
	1,440	1,448	-8
	5		5

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			-507
b			97
c			151
d			385
e			1,592
			1,190
			254
			281
			1,240
			79
			-1,182
			-746
			736
			654
			343
			1,887
			920
			242
			204
			649
			465
			2,690
			1,353
			195
			372
			223
			412
			-1,006
			154
			1,089
			333
			229
			1,150
			1,302
			754
			2,857
			920
			299
			424
			875
			523
			-200
			-387
			-51
			-2,702
			21
			24
			511
			681
			-75
			466
			0
			-33
			-3,275
			-24
			0
			-76
			0
			0
			0
			-569
			-6,780
			40
			250
			559
			3,309
			0
			14
			1,701
			38
			0
			-17
			0
			-301
			20
			423
			542
			-135
			129
			644
			1,060
			-13
			-105
			-292
			-165
			-2
			27
			-209
			-270
			-118
			-405
			-17
			212
			80
			828
			109
			78
			173
			191
			-657
			784
			38
			108
			0
			-5
			24
			133
			543
			214
			-2,683
			0
			0
			0
			-27
			-9,284
			-110
			-4,240
			15
			2
			4
			5
			0
			-3
			-5
			-4
			7
			8
			16
			0
			-1
			-2
			0
			-1
			-29
			-23
			-47
			387
			380
			218
			-278
			337
			232
			282
			232
			0
			0
			6
			-150
			6
			-233
			11
			0
			-3
			-409
			-876
			-869
			-344
			-5,462
			3
			26
			492
			-74
			-145
			915
			0
			-108
			-202
			-36
			0
			-600
			-102
			-108
			-840
			0
			-34
			-2,661
			-48
			-735
			-172
			-2,825
			-1,188
			39
			-2,973
			-863
			0
			-91
			-7,440
			-185
			-3,246
			978
			2,910
			0
			3
			1,319
			87
			-1,104
			-155
			-36
			99
			-663
			6
			219
			348
			706
			1,565
			303
			259
			2
			277
			26
			-54
			262
			1,726
			279
			357
			372
			378
			178
			175
			92
			520
			292
			286
			200
			520
			222
			412
			918
			0
			-92
			-661
			-840
			-434
			-478
			-191
			0
			0
			0
			0
			0
			0
			-102
			0
			40
			0
			-19
			-7
			-14
			-4
			-1
			-4
			-112
			-25
			-64
			-38
			-218
			-1,055
			-721
			-144
			-720
			-177
			-556
			-517
			-196
			-132
			-244
			-80
			-44
			-84
			-4
			41
			4
			508
			-1
			0
			-16
			0
			-1
			-4
			-4
			569
			262
			4,000
			696
			3,917
			-23
			-1,952
			-237
			-385
			-101
			-249
			-673
			-82
			-706
			-1,364
			-214
			33
			-19
			-281
			-30
			-28
			374
			519
			3,041
			643
			324
			3,381
			730
			376
			2,757
			567
			69
			1,768
			867
			0
			-17
			-17
			-22
			0
			-6
			-18
			3
			3
			105
			-3
			13
			13
			20
			-16
			-593
			-59
			-8
			-10
			-13
			-8
			5

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-169
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 . . . . . . . . . . . . . . . .		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? Yes No

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	109,525	921,233	0.118890
2012	42,381	951,608	0.044536
2011	49,866	996,182	0.050057
2010	47,809	990,794	0.048253
2009	4,806	995,301	0.004829

2	Total of line 1, column (d) ......................	2	0.266565
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	0.053313
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	835,518
5	Multiply line 4 by line 3.......................	5	44,544
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	5
7	Add lines 5 and 6.........................	7	44,549
8	Enter qualifying distributions from Part XII, line 4..............	8	41,835
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)

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	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	11
	hereand 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	11
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	11
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a
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	0
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	11
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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) .............

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).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

JOSHUA HOWE Telephone no. bullet

(612) 638-2603

Located at bullet

2717 EWING AVENUE SOUTHMINNEAPOLISMN ZIP+4 bullet

55416

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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)

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?.................YesNo

(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.).........YesNo

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)? ........

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?.............

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)):

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?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?........................YesNo

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.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)..................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

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)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.......................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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
CAROLE HOWE	PRESIDENT 0.00	0	0	0
2542 MANITOU ISLAND WHITE BEAR LAKE,MN55110	PRESIDENT 0.00	0	0	0
JOSHUA HOWE	TREASURER 0.00	0	0	0
2717 EWING AVENUE SOUTH MINNEAPOLIS,MN55416	TREASURER 0.00	0	0	0
ZACHARY HOWE	SECRETARY 0.00	0	0	0
1055 25TH AVENUE SE MINNEAPOLIS,MN55414	SECRETARY 0.00	0	0	0

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...................				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............. 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	THE HOWE FAMILY FOUNDATION IS ORGANIZED FOR THE PURPOSES OF MAKING DISTRIBUTIONS TO PROJECTS OR PROGRAMS THAT EDUCATE AND EMPOWER INDIVIDUALS, LOCALLY AND ABROAD TO SUCCEED IN LIFE.	5,889
2	THE HOWE FAMILY FOUNDATION IS ORGANIZED FOR THE PURPOSES OF MAKING DISTRIBUTIONS TO PROJECTS OR PROGRAMS THAT WORK TO BALANCE THE WELFARE AND INTERESTS OF SOCIETY FOR THE DISADVANTAGED.	23,500
3	THE HOWE FAMILY FOUNDATION IS ORGANIZED FOR THE PURPOSES OF FUNDING PROGRAMS AND PROJECTS THAT ARE DESIGNED TO FOSTER INNOVATION AND THE ARTISTIC AND ENTREPRENEURIAL SPIRIT.	11,646
4	THE HOWE FAMILY FOUNDATION IS ORGANIZED FOR THE PURPOSES OF FUNDING PROGRAMS AND PROJECTS THAT CONDUCT SCENTIFIC RESEARCH WITH SIGNIFICANCE BEYOND THE FOUNDATION'S GRANT PROGRAM THAT DOES NOT CONSTITUTE A PROHIBITED ATTEMPT TO INFLUENCE LEGISLATION.	800

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

426,162

Average of monthly cash balances.......................

422,080

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

848,242

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

848,242

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

12,724

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

835,518

Minimum investment return. Enter 5% of line 5..................

41,776

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

41,776

Tax on investment income for 2014 from Part VI, line 5......

Income tax for 2014. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

41,765

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

41,765

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

41,765

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

41,835

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

41,835

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).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

41,835

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)

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					41,765
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.......
c From 2011.......
d From 2012.......
e From 2013.......	12,593
fTotal of lines 3a through e.........		12,593
4Qualifying distributions for 2014 from Part
XII, line 4: $ 41,835
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.....					41,765
e Remaining amount distributed out of corpus		70
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		12,663
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 ......		12,663
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....
d Excess from 2013....	12,593
e Excess from 2014....	70

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

CAROLE HOWE

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2014)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
FIRST PEOPLE'S FUND PO BOX 2977 RAPID CITY,SD57709	NONE	501(C)3	ARTS	10,146
GRACE NEIGHBORHOOD NURSERY SCHOOL 1430 WEST 28TH STREET MINNEAPOLIS,MN55408	NONE	501(C)3	EDUCATION	889
LITTLE BROTHERS FRIENDS OF THE ELDERLY 1845 EAST LAKE STREET MINNEAPOLIS,MN55407	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
OPEN ARMS 2500 BLOOMINGTON AVENUE SOUTH MINNEAPOLIS,MN55404	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
ORGANIC CONSUMERS ASSOCIATION 6771 SOUTH SILVER HILL DRIVE FINLAND,MN55603	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
SECOND HARVEST HEARTLAND 1140 GERVAIS AVENUE SAINT PAUL,MN55109	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
ST CATHERINE UNIVERSITY 2004 RANDOLPH AVENUE SAINT PAUL,MN55105	NONE	501(C)3	EDUCATION	5,000
ST STEPHEN'S HUMAN SERVICES 2309 NICOLLET AVENUE SOUTH MINNEAPOLIS,MN55404	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
TREE TRUST 2231 EDGEWOOD AVENUE SOUTH ST LOUIS PARK,MN55426	NONE	501(C)3	SOCIAL RESPONSIBILITY	1,000
UNION GOSPEL MISSION 77 EAST 9TH STREET SAINT PAUL,MN55101	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
VISION LOSS RESOURCES 1936 LYNDALE AVENUE SOUTH MINNEAPOLIS,MN55403	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
WOMEN'S ADVOCATES 588 GRAND AVENUE SAINT PAUL,MN55102	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
SPRINGBOARD FOR THE ARTS 308 PRINCE STREET SUITE 270 ST PAUL,MN55101	NONE	501(C)3	ARTS	1,500
WHITE BEAR LAKE RESTORATION ASSOCIATION PO BOX 10682 WHITE BEAR LAKE,MN55110	NONE	501(C)3	SOCIAL RESPONSIBILITY	2,500
SUSAN G KOMEN 5005 LBJ FREEWAY SUITE 250 DALLAS,TX75244	NONE	501(C)3	RESEARCH	800
Total ................................. 3a				41,835

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
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 ............
4 Dividends and interest from securities....			14	14,748
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	-169
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		14,579	0

13Total. Add line 12, columns (b), (d), and (e)..................

1314,579

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BANK CHARGES	57	0	0	0
PENALTIES	463	0	0	0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BROKER INVESTMENT FEES	12,508	12,508	0	0
ACCOUNTING FEES	3,000	0	0	0