Form990-PF
Click to see attachment

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
UD HPB FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 1802   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PROVIDENCE, RI029011802
A Employer identification number

20-2279585
B Telephone number (see instructions)

(888) 866-3275
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$16,342,425J 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      
4 Dividends and interest from securities...... 419,755 416,241  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 474,737
b Gross sales price for all assets on line 6a 1,625,610
7 Capital gain net income (from Part IV, line 2)... 474,737
8 Net short-term capital gain......... 0
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........ 894,492 890,978  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 30,887 18,532   12,355
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 24,710     24,710
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 15,141 10,916   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 203 203    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 70,941 29,651 0 37,065
25 Contributions, gifts, grants paid........ 679,492 679,492
26 Total expenses and disbursements. Add lines 24 and 25 750,433 29,651 0 716,557
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 144,059
b Net investment income (if negative, enter -0-) 861,327
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets 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...............      
2 Savings and temporary cash investments.......... 178,812 208,441 208,441
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 1,853,499 Click to see attachment1,585,869 1,729,286
b Investments—corporate stock (attach schedule)........ 6,253,617 Click to see attachment7,176,353 12,437,753
c Investments—corporate bonds (attach schedule)........ 2,406,598 Click to see attachment1,865,917 1,966,945
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 10,692,526 10,836,580 16,342,425
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 10,692,526 10,836,580
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)...... 10,692,526 10,836,580
31 Total liabilities and net assets/fund balances (see instructions).. 10,692,526 10,836,580
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 10,692,526
2 Enter amount from Part I, line 27a..................... 2 144,059
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 10,836,585
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 5
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 10,836,580
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 500. ADVANCED AUTO PTS INC COM   2011-06-24 2014-03-07
b 155. APPLE INC COM   2008-10-15 2014-05-06
c 45. APPLE INC COM   2008-10-28 2014-05-06
d 25. APPLE INC COM   2008-10-28 2014-05-27
e 175. APPLE INC COM   2008-11-24 2014-05-27
700. APPLE INC COM   2008-11-24 2014-08-19
.667 CDK GLOBAL INC COM   2009-05-13 2014-10-22
250000. HEWLETT PACKARD CO NT   2009-04-28 2014-03-01
155. LEUCADIA NATIONAL CORP   2008-06-19 2014-02-20
170. LEUCADIA NATIONAL CORP   2006-08-20 2014-02-20
75. LEUCADIA NATIONAL CORP   2006-10-23 2014-02-20
410. LEUCADIA NATIONAL CORP   2008-10-28 2014-02-20
4410. LEUCADIA NATIONAL CORP   2005-09-12 2014-02-20
4. LEUCADIA NATIONAL CORP   2005-06-06 2014-02-20
100. LEUCADIA NATIONAL CORP   2005-05-23 2014-02-20
990. LEUCADIA NATIONAL CORP   2005-06-07 2014-02-20
550. LEUCADIA NATIONAL CORP   2005-06-07 2014-02-20
168. LEUCADIA NATIONAL CORP   2005-06-07 2014-02-20
456. LEUCADIA NATIONAL CORP   2005-05-19 2014-02-20
616. LEUCADIA NATIONAL CORP   2005-05-19 2014-02-20
144. LEUCADIA NATIONAL CORP   2005-05-20 2014-02-20
502. LEUCADIA NATIONAL CORP   2005-05-20 2014-02-20
2103. LEUCADIA NATIONAL CORP   2008-11-24 2014-02-20
1041. LEUCADIA NATIONAL CORP   2008-11-24 2014-02-20
1300. NOVO-NORDISK A S ADR   2005-03-01 2014-01-23
1700. NOVO-NORDISK A S ADR   2005-09-12 2014-01-23
250000. SBC COMMUNICATIONS INC NT   2009-02-05 2014-09-15
200000. UNITED STATES TREAS NT DTD 03/15/05 4.000%   2005-03-18 2014-11-28
100000. UNITED STATES TREAS NT DTD 03/15/05 4.000%   2007-02-12 2014-11-28
(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 63,315   29,105 34,210
b 93,183   15,973 77,210
c 27,053   4,224 22,829
d 15,520   2,346 13,174
e 108,641   15,485 93,156
70,389   8,848 61,541
17   9 8
250,000   275,465 -25,465
4,299   7,523 -3,224
4,715   4,505 210
2,080   1,913 167
11,373   8,969 2,404
122,324   94,750 27,574
111   73 38
2,774   1,820 954
27,460   17,993 9,467
15,256   9,987 5,269
4,660   3,046 1,614
12,648   8,202 4,446
17,087   11,070 6,017
3,994   2,586 1,408
13,924   9,014 4,910
58,333   32,552 25,781
28,875   15,944 12,931
49,885   7,423 42,462
65,234   8,871 56,363
250,000   253,495 -3,495
201,640   199,825 1,815
100,820   99,857 963
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       34,210
b       77,210
c       22,829
d       13,174
e       93,156
      61,541
      8
      -25,465
      -3,224
      210
      167
      2,404
      27,574
      38
      954
      9,467
      5,269
      1,614
      4,446
      6,017
      1,408
      4,910
      25,781
      12,931
      42,462
      56,363
      -3,495
      1,815
      963
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 2 474,737
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 843,284 15,317,155 0.055055
2012 710,393 14,391,205 0.049363
2011 510,367 13,886,225 0.036753
2010 414,844 12,792,748 0.032428
2009 574,804 11,576,864 0.049651
2 Total of line 1, column (d) ...................... 2 0.22325
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 0.04465
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 16,184,633
5 Multiply line 4 by line 3....................... 5 722,644
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 8,613
7 Add lines 5 and 6......................... 7 731,257
8 Enter qualifying distributions from Part XII, line 4.............. 8 716,557
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 17,227
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 17,227
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 17,227
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 4,907
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,907
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 12,320
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 taxBullet0 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletFL
    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 addressbullet  
    14
    The books are in care ofbulletUS TRUST FIDUCIARY TAX SERVICES Telephone no.bullet (888) 866-3275
    Located atbulletPO BOX 1802PROVIDENCERI ZIP+4bullet029011802
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    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
    BANK OF AMERICA N A TRUSTEE
    1     		30,887    
    114 W 47TH ST
    NEW YORK,NY10036
    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.........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    16,045,878
    b
    Average of monthly cash balances.......................
    1b
    385,221
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    16,431,099
    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
    16,431,099
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    246,466
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    16,184,633
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    809,232
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    809,232
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    17,227
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    17,227
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    792,005
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    792,005
    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
    792,005
    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
    716,557
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    716,557
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    716,557
    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 7 792,005
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 609,800
    b Total for prior years:2012, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 0
    b From 2010....... 0
    c From 2011....... 0
    d From 2012....... 0
    e From 2013....... 0
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 716,557
    a Applied to 2013, but not more than line 2a 609,800
    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..... 106,757
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		685,248
    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 ......     		0
    10 Analysis of line 9:
    a Excess from 2010.... 0
    b Excess from 2011.... 0
    c Excess from 2012.... 0
    d Excess from 2013.... 0
    e Excess from 2014.... 0
    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 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)
    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
    FAYERWEATHER STREET
    SCHOOL
    765 CONCORD AVENUE
    CAMBRIDGE,MA02138     		N/A PC UNRESTRICTED GENERAL 10,000
    CONCORD ACADEMY
    166 MAIN STREET
    CONCORD,MA01742     		N/A PC UNRESTRICTED GENERAL 10,000
    NEW YORK EYE AND
    EAR INFIRMARY
    310 EAST 14TH STREET
    NEW YORK,NY10003     		N/A PC GERALD G PIERCE MD 120,000
    GAINING GROUND INC
    PO BOX 374
    CONCORD,MA017420374     		N/A PC UNRESTRICTED GENERAL 25,000
    BOSTON PUBLIC LIBRARY
    700 BOYLSTON STREET
    BOSTON,MA02116     		N/A PC CHILDREN'S 30,000
    DEPRESSION AND BIPOLAR
    SUPPORT ALLIANCE-BOSTON
    PO BOX 102
    BELMONT,MA024780006     		N/A PC UNRESTRICTED GENERAL 190,000
    BENNINGTON COUNTY
    MEALS PROGRAM
    124 PLEASANT STREET
    BENNINGTON,VT05201     		N/A PC UNRESTRICTED GENERAL 32,500
    BENNINGTON-RUTLAND
    OPPORTUNITY COUNCIL
    60 CENTER STREET
    RUTLAND,VT05701     		N/A PC RELIEF FROM TROPICAL STORM 32,500
    HUNGER PROJECT
    5 UNION SQUARE WEST
    NEW YORK,NY10003     		N/A PC UNRESTRICTED GENERAL 30,000
    WATKINSON SCHOOL
    180 BLOOMFIELD AVENUE
    HARTFORD,CT061051096     		N/A PC HEAD SCHOLARS SCHOLARSHIP 70,400
    FISHER HOUSE
    FOUNDATION INC
    1401 ROCKVILLE PIKE
    ROCKVILLE,MD20852     		N/A PC UNRESTRICTED GENERAL 50,000
    WOUNDED WARRIOR
    PROJECT
    4899 BELFORT RD STE 300
    JACKSONVILLE,FL32256     		N/A PC UNRESTRICTED GENERAL 50,000
    ARMAND HAMMER
    UNITED WORLD
    PO BOX 248
    MONTEZUMA,NM87731     		N/A PC UNRESTRICTED GENERAL 29,092
    Total .................................bullet 3a 679,492
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		         
    4 Dividends and interest from securities....     14 419,755  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 474,737  
    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)..   894,492  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13894,492
    (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 GeneralExplanationAttachment
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Identifier Return Reference Explanation
    FEDERAL FOOTNOTE PART VIII LIST OF OFFICERS AND DIRECTORS THE COMPENSATION SHOWN ON THE RETURN THAT IS PAID TO BANK OF AMERICA, N.A. AS CORPORATE TRUSTEE IS NOT CALCULATED BASED UPON AN HOURLY RATE FOR THE TIME SPENT BY THE TRUSTEE, RATHER, BANK OF AMERICA'S COMPENSATION IS CALCULATED USING A MARKET VALUE FEE SCHEDULE. THE TRUST OFFICER'S TIME SPENT PERFORMING ADMINISTRATIVE RESPONSIBILITIES FOR THIS FOUNDATION AVERAGES ONE HOUR PER WEEK. IN ADDITION, TIME IS SPENT BY OTHER STAFF MEMBERS FOR RECORDKEEPING, INVESTMENT MANAGEMENT, INCOME COLLECTION, RENDERING STATEMENTS AND ACCOUNTINGS, REGULATORY REPORTING, REGULATORY COMPLIANCE, AND TAX SERVICES.

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Name of Bond End of Year Book Value End of Year Fair Market Value
    17275RAC6 CISCO SYS INC NT 259,288 263,755
    191216AM2 COCA COLA CO SR NT 252,019 280,295
    20825CAS3 CONOCOPHILLIPS NT    
    369604AY9 GENERAL ELEC CO NT    
    36962G3T9 GENERAL ELEC CAP COR    
    428236AT0 HEWLETT PACKARD CO N    
    459200AG6 IBM CORP DEB 301,619 320,000
    46625HCE8 JP MORGAN CHASE DTD 244,960 251,430
    50075NBB9 KRAFT FOODS INC SR U 99,883 103,715
    78387GAP8 SBC COMMUNICATIONS I    
    88732JAK4 TIME WARNER CABLE IN    
    92343VAX2 VERIZON COMMUNICATIO 218,952 217,074
    929903DT6 WACHOVIA CORP NEW NT 235,045 276,008
    822582AH5 SHELL INTL FIN B V C 254,151 254,668

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Name of Stock End of Year Book Value End of Year Fair Market Value
    166764100 CHEVRON CORP COM 69,546 112,180
    30231G102 EXXON MOBIL CORP COM 132,407 202,003
    74005P104 PRAXAIR INC COM 180,945 272,076
    291011104 EMERSON ELEC CO COM 91,317 123,460
    302130109 EXPEDITORS INTL WASH 148,386 178,440
    369604103 GENERAL ELEC CO COM 98,639 155,411
    88579Y101 3M CO COM 125,703 436,270
    00751Y106 ADVANCED AUTO PTS IN 87,315 238,920
    12686C109 CABLEVISION SYS CORP    
    5756029#6 BAYER MOTOREN WERK E 146,407 217,252
    580135101 MCDONALDS CORP COM 229,914 262,360
    886547108 TIFFANY & CO NEW COM 212,772 395,382
    B0CCH46#4 HEINEKEN HLDG NV COM 237,467 439,865
    25243Q205 DIAGEO PLC SPONSORED 206,662 533,941
    453142101 IMPERIAL TOBACCO GRO    
    50076Q106 KRAFT FOODS GROUP IN 44,026 96,058
    5962280#4 LINDT & SPRUENGLI AG 95,381 198,541
    609207105 MONDELEZ INTL INC CO 81,458 167,095
    641069406 NESTLE S A SPONSORED 185,715 315,689
    713448108 PEPSICO INC COM 163,461 283,680
    742718109 PROCTER & GAMBLE CO 109,272 202,675
    871829107 SYSCO CORP COM 146,423 198,450
    904784709 UNILEVER N V NEW NEW 158,602 195,200
    002824100 ABBOTT LABS COM 217,669 360,160
    075887109 BECTON DICKINSON & C 99,877 194,824
    478160104 JOHNSON & JOHNSON CO 219,731 347,695
    670100205 NOVO-NORDISK A S ADR 113,919 931,040
    941848103 WATERS CORP COM 214,795 304,344
    084670702 BERKSHIRE HATHAWAY I 183,202 472,973
    527288104 LEUCADIA NATL CORP C    
    540424108 LOEWS CORP COM 102,523 199,175
    037833100 APPLE INC COM 26,545 231,798
    053015103 AUTOMATIC DATA PROCE 145,262 381,835
    219350105 CORNING INC COM    
    38259P508 GOOGLE INC CL A COM 111,476 212,264
    459200101 INTERNATIONAL BUSINE 287,486 240,660
    57636Q104 MASTERCARD INC CL A 99,629 430,800
    981475106 WORLD FUEL SVCS CORP 154,812 178,334
    244199105 DEERE & CO COM 268,786 265,410
    22662X100 CRIMSON WINE GROUP L 6,764 11,296
    718172109 PHILIP MORRIS INTL I 126,069 122,175
    82966C103 SIRONA DENTAL SYS IN 241,991 305,795
    026874784 AMERICAN INTL GROUP 226,728 364,065
    12508E101 CDK GLOBAL INC COM 21,009 62,200
    126804301 CABELAS INC COM 182,818 158,130
    191216100 COCA COLA CO COM 299,222 337,760
    22160K105 COSTCO WHSL CORP NEW 225,327 283,500
    G97822103 PERRIGO CO COM 345,175 417,900
    171778202 CIELO S A SPONSORED 192,600 188,112
    38259P706 GOOGLE INC COM CL C 111,120 210,560

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    US Government Securities - End of Year Book Value:

    1,585,869
    US Government Securities - End of Year Fair Market Value:

    1,729,286
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2014 OtherDecreasesSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER INVESTMENT FEE 118 118   0
    INVSTMT EXPENSE 85 85   0


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GRANTMAKING FEES - BOA 24,710     24,710


    TY 2014 TaxesSchedule
    Name:
    UD HPB FOUNDATION
    EIN: 20-2279585
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 10,916 10,916   0
    EXCISE TAX ESTIMATES 4,225 0   0