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
EMANUEL & PAULINE A LERNER FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 10370   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PORTLAND, ME041040370
A Employer identification number

20-8797462
B Telephone number (see instructions)

(207) 730-2779
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$8,375,129J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 17 17  
4 Dividends and interest from securities...... 151,257 151,257  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,318,131
b Gross sales price for all assets on line 6a 2,097,683
7 Capital gain net income (from Part IV, line 2)... 1,318,131
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 20,108 9,227  
12 Total. Add lines 1 through 11........ 1,489,513 1,478,632  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 50,000 30,000   20,000
14 Other employee salaries and wages...... 81,619 0   81,619
15 Pension plans, employee benefits....... 18,610 0   18,610
16a Legal fees (attach schedule)......... Click to see attachment 285 71   214
b Accounting fees (attach schedule)....... Click to see attachment 10,843 2,711   8,132
c Other professional fees (attach schedule).... Click to see attachment 4,081 749   3,332
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 24,169 2,686   4,683
19 Depreciation (attach schedule) and depletion... Click to see attachment 1,114 0  
20 Occupancy.............. 18,708 4,677   14,031
21 Travel, conferences, and meetings....... 5,862 1,466   4,396
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 36,072 12,999   23,038
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 251,363 55,359   178,055
25 Contributions, gifts, grants paid........ 544,869 544,869
26 Total expenses and disbursements. Add lines 24 and 25 796,232 55,359   722,924
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 693,281
b Net investment income (if negative, enter -0-) 1,423,273
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............... 26,272 16,960 16,960
2 Savings and temporary cash investments.......... 39,553 376,084 376,084
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...........   4,472 4,472
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 6,616,675 Click to see attachment6,761,856 6,761,856
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)........... 1,075,843 Click to see attachment1,210,463 1,210,463
14 Land, buildings, and equipment: basis bullet6,379
Less: accumulated depreciation (attach schedule) bullet2,791 1,763 Click to see attachment3,588 3,588
15 Other assets (describe bullet) Click to see attachment50 Click to see attachment1,706 Click to see attachment1,706
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,760,156 8,375,129 8,375,129
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 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 7,760,156 8,375,129
30 Total net assets or fund balances (see instructions)...... 7,760,156 8,375,129
31 Total liabilities and net assets/fund balances (see instructions).. 7,760,156 8,375,129
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 7,760,156
2 Enter amount from Part I, line 27a..................... 2 693,281
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 56,814
4 Add lines 1, 2, and 3.......................... 4 8,510,251
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 135,122
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 8,375,129
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 PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS FROM PASSTHROUGH ENTITIES P    
c CAPITAL GAINS DIVIDENDS P    
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 2,035,625   779,552 1,256,073
b 32,421     32,421
c 29,637     29,637
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       1,256,073
b       32,421
c       29,637
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,318,131
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 708,751 7,524,722 0.094190
2012 802,499 6,649,051 0.120694
2011 544,174 6,325,682 0.086026
2010 322,860 6,068,955 0.053199
2009 95,000 3,558,446 0.026697
2 Total of line 1, column (d) ...................... 2 0.380806
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 0.076161
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 8,217,901
5 Multiply line 4 by line 3....................... 5 625,884
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 14,233
7 Add lines 5 and 6......................... 7 640,117
8 Enter qualifying distributions from Part XII, line 4.............. 8 722,924
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 14,233
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 14,233
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 14,233
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 10,585
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 10,585
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 3,648
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletME
    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 addressbulletLERNERFOUNDATION.COM
    14
    The books are in care ofbulletTHE ORGANIZATION Telephone no.bullet (207) 730-2779
    Located atbulletPO BOX 10370PORTLANDME ZIP+4bullet041040370
    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
     
     
    .........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
    ELIOT R CUTLER DIRECTOR
    5.00     		50,000 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    MELANIE STEWART CUTLER DIRECTOR
    0.00     		0 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    JUSTIN SCHAIR DIRECTOR
    0.00     		0 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    VICTORIA BONEBAKKER DIRECTOR
    0.00     		0 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    SUSAN RUCH DIRECTOR
    0.00     		0 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    WILLIAM FOSTER DIRECTOR
    0.00     		0 0 0
    PO BOX 10370
    PORTLAND,ME041040370
    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
    8,142,990
    b
    Average of monthly cash balances.......................
    1b
    196,018
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,039
    d
    Total (add lines 1a, b, and c).........................
    1d
    8,343,047
    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
    8,343,047
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    125,146
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    8,217,901
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    410,895
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    410,895
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    14,233
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    14,233
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    396,662
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    396,662
    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
    396,662
    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
    722,924
    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
    722,924
    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
    14,233
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    708,691
    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 7 396,662
    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....... 28,177
    c From 2011....... 238,107
    d From 2012....... 479,820
    e From 2013....... 346,545
    fTotal of lines 3a through e......... 1,092,649
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 722,924
    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..... 396,662
    e Remaining amount distributed out of corpus 326,262
    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 1,418,911
    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 ......     		1,418,911
    10 Analysis of line 9:
    a Excess from 2010.... 28,177
    b Excess from 2011.... 238,107
    c Excess from 2012.... 479,820
    d Excess from 2013.... 346,545
    e Excess from 2014.... 326,262
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ELIOT R CUTLER
    PO BOX 10370
    PORTLAND,ME041040370
    (207) 730-2779
    bThe form in which applications should be submitted and information and materials they should include:
    THE LERNER FOUNDATION DOES NOT ACCEPT UNSOLICITED PROPOSALS. HOWEVER, IT DOES WELCOME LETTERS OF INQUIRY FROM APPROPRIATE AND QUALIFIED APPLICANTS. IF REQUESTED, APPLICANTS THEN SUBMIT A PROPOSAL USING THE MAINE PHILANTHROPY CENTER'S COMMON GRANT APPLICATION (FORM A).
    cAny submission deadlines:
    APPLICATIONS ARE DUE BY MARCH 15 FOR JUNE GRANT AWARDS OR SEPTEMBER 15 FOR DECEMBER GRANT AWARDS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE FOUNDATION MAKES GRANTS TO OTHER ORGANIZATIONS, INCLUDING EDUCATIONAL INSTITUTIONS AND SIMILAR ENTITIES THAT ARE ENGAGED IN ENDEAVORS TO PROMOTE CIVIL DISCOURSE AND CIVIC RESPONSIBILITY IN AMERICA.
    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
    MAINE INITIATIVES
    PO BOX 66
    BRUNSWICK,ME04011     		NONE PUBLIC CHARITY ECBO LEARNING COMMUNITY PROJECT 5,000
    GEDAKINA
    PO BOX 2478
    BANGOR,ME04412     		NONE PUBLIC CHARITY PROGRAM SUPPORT FOR HERSTORY 15,000
    MARGARET CHASE SMITH POLICY CENTER
    5784 YORK COMPLEX 4 UNIVERSITY OF
    MAINE
    ORONO,ME04469     		NONE PUBLIC CHARITY MAINE NEW LEADERSHIP 10,000
    MAINE BOYS TO MEN
    81 BRIDGE STREET M201
    YARMOUTH,ME04096     		NONE PUBLIC CHARITY BOLD PROGRAM 8,500
    PIHCINTU
    36 EMERSON DRIVE
    WINDHAM,ME04062     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 15,000
    PHYSICIANS FOR SOCIAL RESPONSIBILITY MAINE CHAPTER
    PO BOX 4744
    PORTLAND,ME04112     		NONE PUBLIC CHARITY RADIO SERIES PRODUCTION AND COMMUNITY OUTREACH FOR SAFE SPACE RADIO 14,000
    FRIENDS OF MIDCOAST MAINE
    5 FREE STREET
    CAMDEN,ME04843     		NONE PUBLIC CHARITY COMMUNITY INSTITUTE AND GENERAL OPERATING SUPPORT 35,000
    A COMPANY OF GIRLS
    PO BOX 7527
    PORTLAND,ME04112     		NONE PUBLIC CHARITY AFTER SCHOOL GIRLS' THEATER PROGRAMMING 12,000
    UNITED WAY OF THE TRI-VALLEY AREA
    PO BOX 126
    FARMINGTON,ME04938     		NONE PUBLIC CHARITY PILOT SERVICE ENTERPRISE FOR MUNICIPALITIES PROGRAM 38,532
    MAINE ACCESS IMMIGRANT NETWORK
    237 OXFORD STREET SUITE 25A
    PORTLAND,ME04101     		NONE PUBLIC CHARITY WOMEN'S LEARNING CIRCLE 25,000
    MAINE COALITION AGAINST SEXUAL ASSAULT
    83 WESTERN AVE SUITE 2
    AUGUSTA,ME04330     		NONE PUBLIC CHARITY MAINE-SPECIFIC TRAINING MATERIALS FOR USE IN PREVENTION WORK AROUND SEXUAL EXPLOITATION/SEX TRAFFICKING 12,500
    OUT AS I WANT TO BE
    PO BOX 1723
    ROCKLAND,ME04841     		NONE PUBLIC CHARITY EXPANSION OF GSTA PRESENCE IN MIDCOAST SCHOOLS 15,000
    FRANCO CENTER FOR HERITAGE AND PERFORMING ARTS
    46 CEDAR STREET
    LEWISTON,ME04240     		NONE PUBLIC CHARITY EXPANSION OF YOUTH LANGUAGE AND PERFORMING ARTS PROGRAMMING 5,000
    SOMALI BANTU YOUTH ASSOCIATION
    PO BOX 7149
    LEWISTON,ME04243     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 35,000
    MANO EN MANO
    PO BOX 573
    MILBRIDGE,ME04658     		NONE PUBLIC CHARITY INCREASE COMMUNITY LEARNING OPPORTUNITIES IN MILBRIDGE 15,000
    THE MAINE CENTER FOR PUBLIC INTEREST REPORTING
    PO BOX 284
    HALLOWELL,ME04347     		NONE PUBLIC CHARITY ONGOING PROJECTS 14,300
    RESOURCES FOR ORGANIZING AND SOCIAL CHANGE
    161 STOVEPIPE ALLEY
    MONROE,ME04951     		NONE PUBLIC CHARITY SEED FUNDING FOR CO-OP STAFFPERSON FOR RAISEOP 15,000
    MAINE PEOPLE'S RESOUCE CENTER
    565 CONGRESS ST 200
    PORTLAND,ME04101     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT FOR NEIGHBORHOOD HOUSING LEAGUE 25,000
    AROOSTOOK MENTAL HEALTH SERVICES INC
    PO BOX 1018
    CARIBOU,ME04736     		NONE PUBLIC CHARITY AROOSTOOK TEEN LEADERSHIP CAMP 10,000
    HARDY GIRLS HEALTHY WOMEN
    177 MAIN STREET PO BOX 821
    WATERVILLE,ME049030821     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 30,000
    MAINE HUMANITIES COUNCIL
    674 BRIGHTON AVENUE
    PORTLAND,ME04102     		NONE PUBLIC CHARITY MUSLIM JOURNEYS PROGRAM 15,007
    IMMIGRANT LEGAL ADVOCACY PROJECT
    PO BOX 17917
    PORTLAND,ME04112     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 40,000
    PARENT ADVISORY GROUP OF CASCO BAY HIGH SCHOOL
    196 ALLEN AVE
    PORTLAND,ME04103     		NONE PUBLIC CHARITY JUNIOR JOURNEY PROGRAM 15,000
    GROWSMART MAINE
    415 CONGRESS STREET SUITE 204
    PORTLAND,ME04101     		NONE PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    FRIENDS OF PORTLAND ADULT EDUCATION
    14 LOCUST ST
    PORTLAND,ME04101     		NONE PUBLIC CHARITY INTAKE SYSTEM/COMPUTER TESTING FOR ESOL CLASSES 49,750
    FRIENDS OF PORTLAND ADULT EDUCATION
    14 LOCUST ST
    PORTLAND,ME04101     		NONE PUBLIC CHARITY EXPANSION OF COMPUTER LAB HOURS 14,280
    PHYSICIANS FOR SOCIAL RESPONSIBILITY MAINE CHAPTER
    PO BOX 4744
    PORTLAND,ME04112     		NONE PUBLIC CHARITY FOLLOW UP GRANT TO FUND PRODUCTION COSTS FOR PREPPING RADIO CONTENT CURRENTLY ON SAFE SPACE RADIO FOR MPBN SPECIALS 16,000
    BICYCLE COALITION OF MAINE
    PO BOX 5275
    PORTLAND,ME04112     		NONE PUBLIC CHARITY COMMUNITY SPOKES OUTREACH AND TRAINING 15,000
    Total .................................bullet 3a 544,869
    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 17  
    4 Dividends and interest from securities....     14 151,257  
    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 2,531  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 1,318,131  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aORDINARY INCOME - ENERGY TRANSFER PARTNERS, LP 900099 7,575 14 -275  
    bORDINARY INCOME - KKR FINANCIAL HOLDINGS, LLC 900099 -2,647 14 6,182  
    cORDINARY INCOME - KINDER MORGAN ENERGY PARTNERS, LP 900099 4,153 14 789  
    dSTATE OF MAINE INCOME TAX REFUND ON UBI 900099 1,800      
    e
    12 Subtotal. Add columns (b), (d), and (e).. 10,881 1,478,632 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,489,513
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 10,843 2,711   8,132

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

    TY 2014 DepreciationSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    COMPUTER 2012-04-27 2,269 1,493 200DB 5.000000000000 310 0    
    PRINTER/SCANNER 2013-09-03 298 60 200DB 5.000000000000 95 0    
    CONFERENCE ROOM CHAIRS 2014-01-09 654 93 200DB 7.000000000000 160 0    
    CONFERENCE ROOM SIDE CHAIR 2014-02-12 219 31 200DB 7.000000000000 54 0    
    APPLE LAPTOP 2014-09-08 1,303   200DB 5.000000000000 261 0    
    OFFICE FURNITURE 2015-02-09 1,636   200DB 7.000000000000 234 0    

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Name of Stock End of Year Book Value End of Year Fair Market Value
    800 SHS DIAGEO PLC 92,832 92,832
    832 SHS EXXON MOBIL CORP 69,222 69,222
    1,000 SHS REALTY INCOME CORP 44,390 44,390
    30,000 SHS TELSTRA CORP 141,576 141,576
    600 SHS AMGEN INC 92,112 92,112
    2,100 SHS APPLE INC 263,393 263,393
    2,650 SHS BAXTER INTL INC 185,315 185,315
    3,000 SHS BECTON DICKINSON CO 424,950 424,950
    1,542 SHS BIOGEN IDEC INC 622,875 622,875
    5,200 SHS CELGENE CORP 601,822 601,822
    3,500 SHS EXACT SCIENCES CORP 104,090 104,090
    8,300 SHS INTEL CORP 252,445 252,445
    3,500 SHS MERK & CO INC 199,255 199,255
    1,600 SHS UNITEDHEALTH GROUP 195,200 195,200
    5,500 SHS GILEAD SCIENCES INC 643,940 643,940
    3,000 SHS PROCTER & GAMBLE CO 234,720 234,720
    6,000 SHS QLIK TECHNOLOGIES INC 209,760 209,760
    4,000 SHS JPMORGAN CHASE & CO 271,040 271,040
    3,000 SHS BIOMED RLTY TR INC 58,020 58,020
    9,000 SHS GENERAL ELECTRIC 239,130 239,130
    2,500 SHS ILLINOIS TOOL WORKS 229,475 229,475
    2,200 SHS NATIONAL GRID ADR 142,054 142,054
    4,000 SHS PFIZER INC 134,120 134,120
    2,000 SHS EMC CORP MASS 52,780 52,780
    1,000 SHS EMERSON ELECTRIC CO 55,430 55,430
    1,650 SHS FACEBOOK INC 141,512 141,512
    2,000 SHS GENERAL MILLS INC 111,440 111,440
    1,000 SHS KRAFT FOODS INC 85,140 85,140
    500 SHS MCDONALDS CORP 47,535 47,535
    2,000 SHS NESTLE SA SPON ADR 144,454 144,454
    2,052 SHS VERIZON COMMUNICATIONS 95,644 95,644
    140 SHS ALLERGAN PLC 42,484 42,484
    750 SHS INVESCO LTD 28,118 28,118
    1,000 SHS ALLISON TRANSMISSION HLDGS 29,260 29,260
    700 SHS APACHE CORP 40,341 40,341
    2,300 SHS BLACKROCK CREDIT ALL INC 29,141 29,141
    1,350 SHS CENTERPOINT ENERGY INC 25,691 25,691
    700 SHS DEVON ENERGY CORP 41,643 41,643
    500 SHS EBAY INC 30,120 30,120
    900 SHS GLAXOSMITHKLINE ADR 37,485 37,485
    2,851 SHS KINDER MORGAN INC 109,450 109,450
    900 SHS SANOFI SPONSORED ADR 44,577 44,577
    1,000 SHS WESTPAC BANKING CORP ADR 24,740 24,740
    1,500 SHS VENTAS INC 93,135 93,135

    TY 2014 InvestmentsOtherSchedule2
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    2,300 UNITS ENERGY TRANSFER PARTNERS LP FMV 120,060 120,060
    20,295 UNITS KKR & CO LP FMV 463,741 463,741
    2,941.65 SHS T ROWE PRICE HEALTH SCIENCES FMV 240,539 240,539
    NGP ENERGY TECHNOLOGY PARTNERS LP AT COST 83,927 83,927
    600 UNITS AMERIGAS PARTNERS LP FMV 27,426 27,426
    1,250 UNITS ARES MGMT LP FMV 23,125 23,125
    800 UNITS ENTERPRISE PRODUCTS PPTNS LP FMV 23,912 23,912
    4,000 UNITS MEMORIAL PRODUCTION PARTNERS LP FMV 59,400 59,400
    900 SHS VANGUARD FTSE DEVELOPED MARKET ETF FMV 35,685 35,685
    800 SHS VANGUARD INTL EQUITY INDEX ETF FMV 32,704 32,704
    3,147.137 SHS FIDELITY CAPITAL & INCOME FUND FMV 30,905 30,905
    2,810.778 SHS FIDELITY TOTAL BOND FUND FMV 29,738 29,738
    751.88 SHS VANGUARD ENERGY INVESTOR FUND FMV 39,301 39,301

    TY 2014 LandEtcSchedule2
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTER 2,269 1,803 466 466
    PRINTER/SCANNER 298 155 143 143
    CONFERENCE ROOM CHAIRS 654 253 401 401
    CONFERENCE ROOM SIDE CHAIR 219 85 134 134
    APPLE LAPTOP 1,303 261 1,042 1,042
    OFFICE FURNITURE 1,636 234 1,402 1,402


    TY 2014 LegalFeesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 285 71   214


    TY 2014 OtherAssetsSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSIT 50 1,706 1,706


    TY 2014 OtherDecreasesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSES 1,698 425   1,273
    INVESTMENT INTEREST EXPENSE FROM PASSTHROUGH ENTITIES 2,702 2,702   0
    NON-DEDUCTIBLE EXPENSES FROM PASSTHROUGH ENTITIES 35 0   0
    INTANGIBLE DRILLING COSTS FROM PASSTHROUGH ENTITIES 5,187 5,187   0
    ADMINISTRATIVE FEES 2,461 615   1,846
    DUES & SUBSCRIPTIONS 15,988 129   15,859
    INSURANCE 2,775 694   2,081
    MARKETING 164 0   164
    OTHER DEDUCTIONS FROM PASSTHROUGH ENTITIES 3,247 3,247   0
    PAYROLL PROCESSING FEES 899 0   899
    MISCELLANEOUS OPERATING EXPENSES 89 0   89
    BANK SERVICE CHARGES 32 0   32
    DEVELOPMENT EXPENSE 795 0   795


    TY 2014 OtherIncomeSchedule2
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER - KKR FINANCIAL HOLDINGS, LLC 2,438 2,438 2,438
    OTHER - KINDER MORGAN ENERGY PARTNERS, LP 91 91 91
    OTHER - ENERGY TRANSFER PARTNERS, LP 2 2 2
    ORDINARY INCOME - ENERGY TRANSFER PARTNERS, LP 7,300 -275 7,300
    ORDINARY INCOME - KKR FINANCIAL HOLDINGS, LLC 3,535 6,182 3,535
    ORDINARY INCOME - KINDER MORGAN ENERGY PARTNERS, LP 4,942 789 4,942
    STATE OF MAINE INCOME TAX REFUND ON UBI 1,800   1,800


    TY 2014 OtherIncreasesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Description Amount
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 749 749   0
    CONSULTING FEES 3,332 0   3,332


    TY 2014 TaxesSchedule
    Name:
    EMANUEL & PAULINE A LERNER FOUNDATION
    EIN: 20-8797462
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 1,117 1,117   0
    FOREIGN TAXES WITHHELD FROM PASSTHROUGH ENTITIES 8 8   0
    EXCISE TAXES ON INVESTMENT INCOME 15,000 0   0
    PAYROLL TAXES 6,244 1,561   4,683
    STATE OF MAINE INCOME TAXES ON UBI 1,800 0   0