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
Biella Foundation

Number and street (or P.O. box number if mail is not delivered to street address)10829 NE 68th Street Suite 200 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Kirkland, WA98033

A Employer identification number

91-1428508

B Telephone number (see instructions)

(425) 829-1311

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

$62,380,320J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	56,479,214
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	164		164
4	Dividends and interest from securities......	68,393		68,393
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-10,487
b	Gross sales price for all assets on line 6a 2,189,850
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........	56,537,284		68,557
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......	38,616		0	0
15	Pension plans, employee benefits.......	10,204		0	0
16a	Legal fees (attach schedule).........		1,796	0	0
b	Accounting fees (attach schedule).......		11,753	0	0
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		10,393	419	0
19	Depreciation (attach schedule) and depletion...		1,013	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		6,750	5,000	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	80,525		5,419	0
25	Contributions, gifts, grants paid........	478,100			478,100
26	Total expenses and disbursements. Add lines 24 and 25	558,625		5,419	478,100
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	55,978,659
b	Net investment income (if negative, enter -0-)			63,138
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	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...............		39,810	39,810
	2	Savings and temporary cash investments..........	2,772,135	52,007,413	52,007,413
	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
	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)........	20,021	1,326,036	2,013,545
	c	Investments—corporate bonds (attach schedule)........	520,055	460,486	459,148
	11	Investments—land, buildings, and equipment: basis 5,965,716
		Less: accumulated depreciation (attach schedule) 665,857		5,299,859	5,317,428
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	1,265,411	2,545,520	2,527,842
	14	Land, buildings, and equipment: basis 7,077
		Less: accumulated depreciation (attach schedule) 6,008	1,667	1,069	1,069
	15	Other assets (describe )	0	14,065	14,065
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,579,289	61,694,258	62,380,320
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons		894,956
	21	Mortgages and other notes payable (attach schedule)......		155,675
	22	Other liabilities (describe )	0	85,679
	23	Total liabilities (add lines 17 through 22)..........	0	1,136,310
		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.........	80,000	80,000
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	4,499,289	60,477,948
	30	Total net assets or fund balances (see instructions)......	4,579,289	60,557,948
	31	Total liabilities and net assets/fund balances (see instructions)..	4,579,289	61,694,258

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	4,579,289
2	Enter amount from Part I, line 27a.....................	2	55,978,659
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	60,557,948
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	60,557,948

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
1 a	Publicly Traded Securities
b	Capital Gains Dividends	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,147,394	2,200,337	-52,943
b	42,456		42,456
c
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			-52,943
b			42,456
c
d
e

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	-10,487
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	211,500	3,807,189	0.055553
2012	90,560	2,304,108	0.039304
2011	47,500	1,424,388	0.033348
2010	8,000	163,627	0.048892
2009	37,457	46,587	0.804023

2	Total of line 1, column (d) ......................	2	0.981120
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	0.196224
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	6,604,608
5	Multiply line 4 by line 3.......................	5	1,295,983
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	631
7	Add lines 5 and 6.........................	7	1,296,614
8	Enter qualifying distributions from Part XII, line 4..............	8	478,100
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	1,263
	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	1,263
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	1,263
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	5,000
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	5,000
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	11
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	3,726
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax3,726	Refunded	11	0

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

James R Wolfe Telephone no. bullet

(425) 829-1311

Located at bullet

10829 NE 68th Street Suite 200KirklandWA ZIP+4 bullet

98033

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
James R Wolfe	President 5.00	0	0	0
10441 - 206th Ave NE Redmond,WA980535112	President 5.00	0	0	0
Verne Jay Todd	VP & Treasurer 1.00	0	0	0
323 - 15th Ave Seattle,WA981225605	VP & Treasurer 1.00	0	0	0
Raymond Curry	Secretary 1.00	0	0	0
1527 California Ave SW 401 Seattle,WA981161689	Secretary 1.00	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


2


3


4

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

2,218,280

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

4,486,906

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

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

6,705,186

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

6,705,186

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

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

100,578

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

6,604,608

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

330,230

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

330,230

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

1,263

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

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

1,263

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

328,967

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

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

328,967

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

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

328,967

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 ..........

478,100

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

478,100

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

478,100

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					328,967
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.......	5,730
c From 2011.......
d From 2012.......
e From 2013.......	22,428
fTotal of lines 3a through e.........		28,158
4Qualifying distributions for 2014 from Part
XII, line 4: $ 478,100
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.....					328,967
e Remaining amount distributed out of corpus		149,133
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		177,291
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 ......		177,291
10 Analysis of line 9:
a Excess from 2010....	5,730
b Excess from 2011....
c Excess from 2012....
d Excess from 2013....	22,428
e Excess from 2014....	149,133

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).)

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
American Red CrossApple Valley Chapter PO Box 4002018 Des Moines,IA503402018	N/A	Public Charity	Disaster Relief, Washington Wildfires	10,000
Anacortes Family Center 1011 27th Street Anacortes,WA98221	N/A	Public Charity	Provides social services to needy families, Shelter for single women and families with children	12,000
Angelorum Pregnancy Services 17602 Hwy 99 Suite 170 Lynnwood,WA98037	N/A	Public Charity	Provides health and social services to women faced with unplanned pregnancies	13,000
Bethany Presbyterian Church 3 Howe St Seattle,WA98109	N/A	Public Charity	Help needy through local outreach ministries and dinners for the homeless	12,000
Bridge Disabilities Ministries 12356 Northrup Way Suite 103 Bellevue,WA98005	N/A	Public Charity	Human Services, Build mobility devices and provide legal guardianship for those in need	6,000
Catholic Community Services 100 - 23rd Ave S Seattle,WA98144	N/A	Public Charity	Disaster Relief, Perform funerals for victims of Oso WA Landslide	5,000
Central Area Senior Center 500 30th Ave So Seattle,WA98144	N/A	Public Charity	Provides social services to seniors in Seattle	12,000
Church By the Side of the Road 3455 S 148th St Tukwila,WA98168	N/A	Public Charity	Missions, Education, Hope Africa School	12,000
Community Foundation of NCW 9 S Wenatchee Avenue Wenatchee,WA98801	N/A	Public Charity	Disaster Relief, Washington Wildfires, Oso WA Landslide relief efforts	10,000
CVH Foundation 330 S Stillaguamish Ave Arlington,WA98223	N/A	Public Charity	Disaster Relief, Oso WA Landslide relief efforts	5,000
First Place PO Box 22536 Seattle,WA981220536	N/A	Public Charity	General Fund, Serves families in crisis	12,000
Food for the Hungry P O Box 7014 Albert Lea,MN56007	N/A	Public Charity	Emergency and long-term work to end world hunger; shelter, feed and clothe survivors of disasters	12,000
Food Lifeline 1702 NE 150th St Shoreline,WA98155	N/A	Public Charity	Feed the hungry in Western Washington	12,000
Gethsemane Lutheran Church The Hope Center 911 Stewart St Seattle,WA98101	N/A	Public Charity	Provide families in crisis with immediate needs plus programs for long term solutions	12,000
Heartbeat - Serving Wounded Warriors P O Box 704 Snohomish,WA98291	N/A	Public Charity	Provides emergency assistance, moral-building, and theraputic services to wounded veterans	28,000
Hope In Haiti PO Box 1346 Duvall,WA98019	N/A	Public Charity	Education, Construct schools, churches, wells, in Haiti	15,000
Hopelink 10675 Willows Rd NE STE 275 Redmond,WA98052	N/A	Public Charity	Housing, education, financial assistance for struggling families	12,000
Ivy Hall Foundation PO Box 561916 Charlotte,NC282561916	N/A	Public Charity	Education, Etiquette and school preparation for underprivileged youths	12,000
Joint Base Lewis McCord Army Medical Ctr Fisher House 111 Rockville Pike Ste 420 Rockville,MD20850	N/A	Public Charity	Construction of Madigan Fisher House to help military and veterans' families	20,000
Love Inc P O Box 2057 Mount Vernon,WA98273	N/A	Public Charity	Coordinates services for people in need	12,000
North Seattle Community College 9600 College Way North Seattle,WA981033599	N/A	Public Charity	Education	10,500
Northwest Harvest 711 Cherry St Seattle,WA98104	N/A	Public Charity	Hunger relief in Washington	12,000
Peace for Streets by Kids for Streets 1814 Summit Ave Seattle,WA98122	N/A	Public Charity	Support homeless and at-risk youth and young adults	22,000
Plymouth Housing Group 2113 Third Avenue Seattle,WA98121	N/A	Public Charity	Human Services, Lowering the barriers to househousing to help the homeless	6,000
Prison Fellowship Ministry Angel Tree 44180 Riverside Pkwy Lansdowne,VA20176	N/A	Public Charity	Help connect parents in prison with their children through delivery of Christmas gifts	18,000
Puget Sound Labor Agency AFL-CIO 2800 - 1st Ave Seattle,WA98121	N/A	Public Charity	Human Services	7,500
Queen Anne Presbyterian Church 414 W Howe St Seattle,WA98119	N/A	Public Charity	Help needy through local outreach ministries	12,000
Salvation Army 111 Queen Anne Ave N Ste 300 Seattle,WA98109	N/A	Public Charity	Support for hungry and hurting in our NW region	12,000
Samaritan's Purse 801 Bamboo Rd Boone,NC28607	N/A	Public Charity	Support for variety of relief missions	46,000
Seattle Union Gospel Mission 3802 Othello St Seattle,WA98111	N/A	Public Charity	Serving the needs of homeless, hungry people in King County	12,000
SHARE WHEEL PO Box 2548 Seattle,WA98111	N/A	Public Charity	Support for the homeless in Seattle	12,000
South Seattle Community College Foundation 6000 16th Ave SW Seattle,WA981061499	N/A	Public Charity	Adopt a Student Scholarship Program	11,100
St Francis House (Society of St Vincent De Paul) 169 12th Ave Seattle,WA98122	N/A	Public Charity	Support for the poor and needy in Seattle	12,000
United Way of Snohomish County 3120 McDougall Avenue Suite 200 Everett,WA98201	N/A	Public Charity	Disaster Relief, Oso WA Landslide	5,000
Wellspring Family Services 1900 Rainier Ave So Seattle,WA98144	N/A	Public Charity	Parenting support for needy families	12,000
YWCA of Seattle King Co Snohomish 1118 Fifth Ave Seattle,WA981013012	N/A	Public Charity	Provide support for needy families	24,000
Total ................................. 3a				478,100

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 ............			14	164
4 Dividends and interest from securities....			14	68,393
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....	531110
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	-10,487
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		58,070	0

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

1358,070

(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

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

Biella Foundation

Employer identification number

91-1428508

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization Biella Foundation

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	Estate of Mart Bert 10829 NE 68th Street Suite 200 Kirkland, WA98033	$56,479,214	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization Biella Foundation

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
Biella Foundation

Employer identification number

91-1428508

Part III

Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet

$
Use duplicate copies of Part III if additional space is needed.

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2014 AccountingFeesSchedule

Name:

Biella Foundation

EIN: 91-1428508

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting	9,990	0		0
Payroll Processing	1,546	0		0
Computer Consulting	217	0		0

- TIN:

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

TY 2014 DepreciationSchedule

Name:

Biella Foundation

EIN: 91-1428508

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
Office Equipment	2009-08-31	518	162	SL	7.000000000000	37	0
iMac Computer 1	2010-01-12	1,313	492	SL	5.000000000000	131	0
iMac Computer 2	2010-05-19	1,313	492	SL	5.000000000000	131	0
Counter	2010-01-13	980	263	SL	7.000000000000	70	0
Apple Computer	2013-01-16	2,538	254	200DB	5.000000000000	406	0
Credenza	2014-01-31	415		200DB	7.000000000000	238	0
Land, Jefferson	2009-02-21	987,850		L		0	0
Building & Improvements	2009-02-21	3,307,150	498,194	SL	39.000000000000	0	0
Tenant Improvements	2009-10-31	10,691	1,427	SL	39.000000000000	0	0
Space Planning	2009-11-30	2,984	395	SL	39.000000000000	0	0
Window Replacement	2010-03-31	17,815	2,190	SL	39.000000000000	0	0
Tenant Improvements	2010-08-31	175,332	19,670	SL	39.000000000000	0	0
Space Planning	2010-10-31	3,325	358	SL	39.000000000000	0	0
Tenant Improvements	2011-11-30	35,731	2,863	SL	39.000000000000	0	0
Cooling Tower Replacement	2011-11-03	35,615	2,853	SL	39.000000000000	0	0
Lobby Improvements (2011)	2012-01-01	18,733	1,420	SL	39.000000000000	0	0
Tenant Improvements	2012-10-25	273,028	15,461	SL	39.000000000000	0	0
Cooling Tower Replacement	2012-09-24	28,328	1,664	SL	39.000000000000	0	0
Elevator Replacement	2013-12-16	101,969	2,724	SL	39.000000000000	0	0
Elevator Replacement	2014-10-31	324,627	1,734	SL	39.000000000000	0	0
Tenant Improvements-Seattle University	2014-09-25	35,137	878	150DB	15.000000000000	0	17,569
Used Truck	2014-12-17	1,771	354	200DB	5.000000000000	0	0

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

Biella Foundation

EIN: 91-1428508

Name of Bond	End of Year Book Value	End of Year Fair Market Value
Avon Prods	0	0
Ford Motor Cr Co	53,429	54,115
Gen Elec Cap Cp	56,259	57,100
Genworth Finl Inc	0	0
Goldman Sachs Group	57,967	57,802
Harford Finl Serv	42,069	41,813
Moodys Corp	31,064	31,793
Nasdaq Omx Group	65,620	67,784
Qwest Capital	44,084	42,023
Time Warner	38,349	38,527
Vale Overseas Ltd	25,904	23,962
Valero Energy	45,741	44,229

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

Biella Foundation

EIN: 91-1428508

Name of Stock	End of Year Book Value	End of Year Fair Market Value
Apple Inc	77,095	656,761
AGCO Corp	438	452
Abbvie Inc	7,391	9,031
Ace Ltd	4,901	5,514
Activision Blizzard	3,097	2,821
Adobe Systems	6,033	6,034
AES Corp	3,988	3,897
Akzo Nobel	17,171	15,892
Alexion Pharm Inc	5,429	8,326
Alibaba Group Hldg	4,427	5,093
Allstate Corp	5,675	6,814
Amazon.Com Inc	7,359	6,517
American Express	4,513	5,396
American Homes 4 Rent	1,125	1,124
Amercian Tower Reit	6,457	8,205
Amgen Inc	5,782	7,487
Aon Plc	2,137	2,086
Apollo Group Inc	2,689	3,206
Apple Inc	21,838	32,562
Applied Materials Inc	4,154	5,682
Arm Holding PLC ADS	4,705	5,000
Avery Dennison Corp	1,645	1,764
Aviva PLC ADR	8,991	9,119
Avon Products Inc	469	451
AXA ADS	4,879	4,578
Baidu Inc	6,009	7,523
Balfour Beatty PLC	3,445	2,457
Barclays PLC	11,737	10,747
Barrick Gold Corp	1,859	1,043
Bayer AG Spon	7,015	7,663
BB&T Corp	1,900	1,983
Berkshire Hathaway Cl-B	11,866	14,114
BG Group PLC	7,875	5,371
Biogen IDEC Inc	7,264	9,165
Blackrock Inc	4,432	5,721
BNP Paribas SP	11,702	9,695
British Amer Tob	13,202	13,046
Brocade Commun Systems	2,244	3,292
California Res Corp	257	220
Canadian Natural Resources Ltd	3,555	3,150
Capital One Finl Corp	9,762	11,557
Carnival PLC	7,042	8,548
Celgene Corp	8,077	12,081
Cerner Corp	4,145	5,367
China Mobile Ltd	7,805	8,000
Chipotle Mexican Grill	5,432	6,161
Cisco Sys	6,774	8,233
Citigroup Inc	11,286	14,339
Clariant AG Muttenx	4,936	4,276
CNOOC Ltd	7,857	5,688
Coach Inc	435	451
Cognizant Tech Solutions	3,877	5,161
Comcast Corp	11,485	12,414
Costar Group	3,326	3,856
Costco Wholesale	4,018	5,103
Covidien	2,071	2,966
Crane Co	2,653	2,182
Credit Suisse	6,103	4,966
Crown Hldgs Inc	2,652	2,800
CVS Health Corp	7,421	14,639
Daimler AG	5,836	6,044
Danaher Corp	4,267	5,057
Delta Air Lines Inc	7,998	11,708
Discover Fin'l Svcs	4,157	4,715
Discovery Communications Ser A	475	482
Dollar Gen Corp	4,518	4,808
Dover Corp	937	789
East Japan RY	7,222	7,162
Ebay Inc	2,314	2,301
Ecolab Inc	3,913	4,494
EMC Corp Mass	5,904	6,721
Emerson Electric Co	1,958	1,790
Energen Corp	2,262	1,849
Envision Healthcare Hldgs	3,500	3,538
EOG Resources	3,375	3,130
EWT Corp	4,143	2,952
Express Scripts Hldg Co	4,807	6,012
Exxon Mobil Corp	2,955	2,681
Facebook	6,565	9,987
Fidelity	1,339	1,555
Fifth 3rd Bancorp	5,194	5,196
Fluor Corp	412	424
Freeport-McMoran Inc	737	701
Gap Inc	2,938	3,285
GDF Suez-Spon Adr	6,683	6,593
Genl Dynamics Corp	2,668	3,028
Gilead Science	9,066	10,746
Givaudian SA	6,369	8,044
Glaxosmithkline	9,016	8,505
Goolge Inc Cl C	5,954	7,896
Goolge Inc Cl A	5,973	7,960
Hilton Worldwide Holdings Inc	6,237	7,044
Kitachi 10 Com New	8,150	8,649
Home Depot Inc	2,618	3,569
Honeywell Int'l	9,222	9,692
HSBC Holdings	11,151	9,540
Huntsman Corp	3,074	2,734
Imperial Oil Ltd	3,947	3,959
International Cons Airls Grp	8,759	10,625
International Paper Co	2,199	2,572
JGC Corp	8,105	4,952
Johnson & Johnson	9,071	9,411
JPMorgan Chase & Co	11,913	13,267
KBC Goup NV	5,135	5,335
KDDI Corp	13,204	14,694
Kingfisher PLC	6,874	7,501
Komatsu LTD	5,423	5,670
Lear Corp	2,900	3,433
Liberty Broadband Corp C	55	190
Liberty Broadband Corp S-A	410	451
Liberty Broadband Corp S-C	611	697
Liberty Global PLC Cl C	11,706	13,817
Liberty Media Corp Ser A	968	1,023
Liberty Media Corp Ser C	1,880	2,067
Linde AG Sponsored ADR	10,702	9,892
Linkedin Corp-A	7,459	8,040
Lloyds Banking Group	9,178	8,468
Lockheed Martin Corp	6,246	7,318
Macy's Inc	2,071	2,433
Marathon Petroleum Corp	3,195	3,159
Mastercard Inc	7,090	9,219
Mckesson Corp	10,373	11,832
Medtronic Inc	3,794	4,549
Metlife Inc	1,328	2,164
MGM Resorts Int'l	1,869	1,604
Microsoft Corp	5,832	7,153
Monsanto Co	9,502	10,513
Morgan Stanley	4,303	5,975
Nielsen Holdings NV	5,215	5,010
Nike Inc B	7,199	9,327
Nikon Corp	10,712	7,683
Novartis AG	12,517	14,918
NXP Semiconductors NV	1,206	1,604
Occidental Petroleum Corp	4,634	4,434
Omnicare Inc	2,712	3,282
Omnicom Group	1,339	1,549
On Semiconductor Corp	1,876	2,168
Oracle Corp	4,693	5,217
Owens Illinois Com	456	486
Pfizer Inc	10,708	11,401
Phillips 66 Com	6,887	6,023
Postnl NV	4,343	2,760
PPG Industries Inc	3,910	4,161
Precision Castparts Corp	5,861	7,226
Priceline.com Inc	7,758	11,402
Prudential Fin'l Inc	3,186	3,257
QEP Resources Inc	2,987	1,941
Qualcomm Inc	3,680	3,494
Quest Diagnostics Inc	2,176	2,548
Raytheon Co	3,570	5,949
Reed Elsevier NV	14,169	16,293
Rexam PLC	6,203	4,599
Rice Energy	1,022	797
Rio Tinto PLC	7,064	6,172
Roche Holdings	10,842	10,707
Royal Dutch Shell	2,409	2,410
Ryanair Hldgs PLC	2,264	3,421
Salesforce.com Inc	5,321	6,524
Sanofi ADR	13,781	12,087
SAP AG	6,216	5,502
SBA Communications Corp	5,340	6,978
Schneider Elec SA	10,096	8,358
Scripps Networks Interac	1,948	1,882
Seagate Technology PLC	1,413	1,929
Servicenow Inc	4,312	5,157
Shin Etsu Chem Co Ltd	6,654	7,531
Shire PLC	1,547	1,700
Six Flags Entmt Corp	1,796	1,899
SK Telecom Co	10,297	11,884
Splunk Inc	2,389	2,476
SSE PLC	3,848	3,890
Starbucks Corp	7,770	8,123
Sumitomo Mitsuie Fin'l Group	8,481	6,705
TE Connectivity Ltd	2,725	2,973
Technip-Coflexip	15,029	9,217
Terex CP	476	474
Tesla Motors Inc	2,828	2,891
Teva Pharmaceuticals	3,673	3,911
Texas Instruments	3,852	3,903
Time Inc	798	984
Time Warner Inc	1,935	2,904
Total SA Spon	9,915	8,499
Toyota Motor Corp	9,507	9,411
Travelers Companies Inc	3,732	4,340
Twenty-First Century Fox	9,602	10,753
Twitter Inc	4,567	3,515
Tyson Foods Inc	4,039	4,089
UBS Group	13,135	12,157
Ulta Salon Cos & Fragr Inc	4,483	6,008
Under Armour Inc	2,034	2,241
Unilever	4,582	4,646
Union Pacific Corp	11,165	17,870
United Continental Hldgs Inc	1,102	1,738
Unitedhealth GP Inc	6,669	8,288
Validus Holdings Ltd	1,154	1,288
Verizon Communications	3,846	3,648
Visa Inc	12,848	19,140
Vodafone Group	12,484	7,038
Walt Disney Co Hldg Co	4,528	6,216
Wells Fargo & Co	10,693	14,746
Western Digital Corporatoin	3,128	3,984
Whole Foods Markets Inc	3,997	4,284
Workday Inc	4,691	4,406
Zimmer Holdings Inc	2,365	2,721
Zoetis Inc Class-A	2,960	4,001
Zurich Insurance Grp Ltd	8,695	9,733
Keurig Green Mtn Inc.	0	0
Amazon.com	40,548	41,587
Apache Corp	41,289	43,806
Micron Technologies	40,239	42,117

- TIN:

TY 2014 InvestmentsLandSchedule2

Name:

Biella Foundation

EIN: 91-1428508

Category/ Item	Cost/Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Land, Jefferson	987,850	0	987,850	987,850
Building & Improvements	3,307,150	498,194	2,808,956	2,808,956
Lease Comm (#400 King County TDA) 4/19	3,780	2,142	1,638	1,638
Tenant Improvements	10,691	1,427	9,264	9,264
Space Planning	2,984	395	2,589	2,589
Window Replacement	17,815	2,190	15,625	15,625
Tenant Improvements	175,332	19,670	155,662	155,662
Space Planning	3,325	358	2,967	2,967
Tenant Improvements	35,731	2,863	32,868	32,868
Cooling Tower Replacement	35,615	2,853	32,762	32,762
Lobby Improvements (2011)	18,733	1,420	17,313	17,313
Lease Comm (#401 RH Home Care) 2/18	43,050	20,929	22,121	22,121
Tenant Improvements	273,028	15,461	257,567	257,567
Cooling Tower Replacement	28,328	1,664	26,664	26,664
Elevator Replacement	101,969	2,724	99,245	99,245
Lease Comm (#503 Oddysee SB&S) 4/15	3,031	2,526	505	505
Lease Comm (#505 Center for Ethical) 6/15	1,582	1,318	264	264
Lease Comm (#400 King County TDA) 6/20	46,200	13,860	32,340	32,340
Lease Comm (#506 CASA) 7/15	44,956	27,699	17,257	17,257
Elevator Replacement	324,627	1,734	322,893	322,893
Tenant Improvements-Seattle University	35,137	878	34,259	34,259
SCRAP Lease Commission 5/24	388,860	22,684	366,176	366,176
Seattle Univ Lease Commission 4/24	74,171	4,945	69,226	69,226
Used Truck	1,771	354	1,417	1,417

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

Biella Foundation

EIN: 91-1428508

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Hartford Healthcare C	AT COST	22,402	39,385
Hartford Cap Apprec C	AT COST	78,483	69,385
Hartford Floating Rate Bd C	AT COST	136,366	121,547
AMG Systematic Mid Cap Cal Inv	AT COST	87,688	87,590
AQR Mngd Futures Strat	AT COST	46,958	49,317
Blackrock Low Dur BD Inv A	AT COST	22,855	22,668
Center Coast MLP Focus A	AT COST	86,319	86,319
Delaware Small Cap Value A	AT COST	62,023	66,786
E V Income Fund of Boston A	AT COST	46,118	44,541
Eaton Vance Commodity Strat I	AT COST	107,943	90,217
Goldman Sachs Abslte Ret Trk A	AT COST	251,867	250,288
Invesco Premier Inst	AT COST	23,126	23,126
Ivy Mid Cap Growth A	AT COST	81,345	88,938
JPMorgan Dynamic Sm Cap Gr A	AT COST	65,809	69,259
Metropolitan Wst Tot Ret Bdm	AT COST	22,874	23,189
Virtus Insight Emrg Mkts A	AT COST	86,456	85,914
Voya Global Real Estate A	AT COST	62,870	69,380
Powershs Emerging Local	AT COST	0	0
Schw US Brd Mkt ETF	AT COST	0	0
Vanguard Small Cap	AT COST	0	0
Ishares Russell Value	AT COST	61,310	62,548
Sector Spdr Consumer Fd	AT COST	39,811	40,693
Sector Spdr Indl Select	AT COST	39,923	40,002
iShares Tr DJ Real Estate	AT COST	39,935	39,649
AmerCentury Heritage	AT COST	0	0
AmerCentury High Yield Fund	AT COST	0	0
AmerCentury Real Estate	AT COST	88,770	102,185
AmerCentury Short Dur	AT COST	42,786	41,328
Eaton Vance TxMgd Emer	AT COST	0	0
Goldman Sachs Global	AT COST	72,942	71,435
Goldman Sachs Small Mid	AT COST	115,413	119,699
Goldman Sachs Tr Commo	AT COST	0	0
Ivy FDS	AT COST	24,206	22,367
JP Morgan Emrg Mkts Deb	AT COST	71,891	69,777
Lord Abbett Short Bds	AT COST	54,598	53,261
Oakmark Int'l Fund	AT COST	109,954	99,127
Pimco Commodity Real Re	AT COST	0	0
Pimco Em Fundamental	AT COST	0	0
Pimco Emrg Local Bd Fd	AT COST	0	0
Pimco Fundamental Index	AT COST	131,199	125,209
Pimco Fundmntl Advtg Ab	AT COST	0	0
Pimco Real Return Fund	AT COST	0	0
Schwab Fundamental Intl	AT COST	73,255	65,291
Schwab Fundamental US	AT COST	0	0
Templeton Global Bond	AT COST	0	0
Thornburg Developing Wo	AT COST	0	0
Toreador Core Fund Inst/Unified Ser TR	AT COST	162,729	161,764
Western Asset Core	AT COST	125,296	125,658

- TIN:

TY 2014 LandEtcSchedule2

Name:

Biella Foundation

EIN: 91-1428508

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Office Equipment	518	458	60	60
iMac Computer 1	1,313	1,280	33	33
iMac Computer 2	1,313	1,280	33	33
Counter	980	823	157	157
Apple Computer	2,538	1,929	609	609
Credenza	415	238	177	177

- TIN:

TY 2014 LegalFeesSchedule

Name:

Biella Foundation

EIN: 91-1428508

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Legal	1,796	0		0

- TIN:

TY 2014 LoansFromOfficersSchedule

Name:

Biella Foundation

EIN: 91-1428508

Item No.	1
Lender's Name	Raymond Curry
Lender's Title	Secretary
Original Amount of Loan	894956
Balance Due	894956
Date of Note	2014-12
Maturity Date	2015-12
Repayment Terms	Payment in Full
Interest Rate	2.500000000000
Security Provided by Borrower	None
Purpose of Loan	Inherited with Contribution
Description of Lender Consideration	Amount owed by Estate
Consideration FMV	894956

- TIN:

TY 2014 MortgagesAndNotesPayableSch

Name:

Biella Foundation

EIN: 91-1428508

Total Mortgage Amount:

Item No.	1
Lender's Name	Raymond Curry
Lender's Title	Secretary
Relationship to Insider
Original Amount of Loan	894956
Balance Due	894956
Date of Note	2014-12
Maturity Date	2015-12
Repayment Terms	Payment in Full
Interest Rate	2.500000000000
Security Provided by Borrower	None
Purpose of Loan	Inherited with Contribution
Description of Lender Consideration	Amount owed by Estate
Consideration FMV	894956

Item No.	2
Lender's Name
Lender's Title
Relationship to Insider
Original Amount of Loan	56609
Balance Due	56609
Date of Note	2014-12
Maturity Date	2015-12
Repayment Terms	Payment in Full
Interest Rate	2.500000000000
Security Provided by Borrower	None
Purpose of Loan	Inherited with Contribution
Description of Lender Consideration	Amount owed by Estate
Consideration FMV	56609

Item No.	3
Lender's Name
Lender's Title
Relationship to Insider
Original Amount of Loan	99066
Balance Due	99066
Date of Note	2014-12
Maturity Date	2015-12
Repayment Terms	Payment in Full
Interest Rate	2.500000000000
Security Provided by Borrower	None
Purpose of Loan	Inherited with Contribution
Description of Lender Consideration	Amount owed by Estate
Consideration FMV	99066

- TIN:

TY 2014 OtherAssetsSchedule

Name:

Biella Foundation

EIN: 91-1428508

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
Prepaid Lease Commission	0	14,065	14,065

- TIN:

TY 2014 OtherExpensesSchedule

Name:

Biella Foundation

EIN: 91-1428508

Description	Revenue and Expenses per Books	Net Investment Income
Licenses	35	0
Broker Fees	5,000	5,000
Insurance	899	0
Office	816	0

- TIN:

TY 2014 OtherLiabilitiesSchedule

Name:

Biella Foundation

EIN: 91-1428508

Description	Beginning of Year - Book Value	End of Year - Book Value
Jefferson Security Deposits Held	0	13,479
Elevator Payable	0	26,278
Payables Related to Bert Estate	0	45,922

- TIN:

TY 2014 TaxesSchedule

Name:

Biella Foundation

EIN: 91-1428508

Category	Amount	Net Investment Income
Payroll Taxes	3,685	0
Foreign Taxes Withheld on Dividends	419	419
Income Taxes Paid Form 990-PY	6,289	0