Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
R L & A C DELL CHARITABLE TRUST UMA
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST PAUL, MN551640713
A Employer identification number

41-6046675
B Telephone number (see instructions)

(651) 466-8040
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$4,552,804J 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 15 15  
4 Dividends and interest from securities...... 57,050 57,050  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 377,599
b Gross sales price for all assets on line 6a 3,940,110
7 Capital gain net income (from Part IV, line 2)... 377,599
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........ 434,664 434,664  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 33,753 30,378   3,375
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 2,110 1,055 0 1,055
b Accounting fees (attach schedule)....... Click to see attachment 1,500 0 0 1,500
c Other professional fees (attach schedule).... Click to see attachment 15,789 1,579   14,210
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 9,521     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 82     82
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 62,755 33,012 0 20,222
25 Contributions, gifts, grants paid........ 186,521 186,521
26 Total expenses and disbursements. Add lines 24 and 25 249,276 33,012 0 206,743
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 185,388
b Net investment income (if negative, enter -0-) 401,652
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...............   916 916
2 Savings and temporary cash investments.......... 60,953 39,707 39,707
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................. 3,500 5,000 5,000
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)      
b Investments—corporate stock (attach schedule)........ 4,009,269 Click to see attachment4,216,436 4,507,181
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........     0
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2,949    
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,076,671 4,262,059 4,552,804
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......... 3,360,743 3,360,743
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 715,928 901,316
30 Total net assets or fund balances (see instructions)...... 4,076,671 4,262,059
31 Total liabilities and net assets/fund balances (see instructions).. 4,076,671 4,262,059
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 4,076,671
2 Enter amount from Part I, line 27a..................... 2 185,388
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 4,262,059
5 Decreases not included in line 2 (itemize) bullet 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 4,262,059
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 3443. MFC ISHARES TR MSCI EAFE INDEX FD   2009-10-27 2014-03-06
b 2247. ISHARES DOW JONES US REAL ESTATE ETF   2013-04-30 2014-03-06
c 3430. SPDR DOW JONES INTERNATIONAL ETF   2013-04-30 2014-03-06
d 18134. CONSUMER STAPLES SPDR   2013-04-30 2014-03-06
e 6984. TECHNOLOGY SELECT SECTOR S P D R   2013-04-30 2014-03-06
12424. VANGUARD EXTENDED MARKET VIPERS   2013-04-30 2014-03-06
12981.822 ABERDEEN FDS EMRGN   2013-04-30 2014-03-07
19963.176 NUVEEN GLOBAL INFRASTR FD CL I   2013-04-30 2014-03-07
276. ASTRONICS CORP   2014-03-12 2014-03-17
1125. JOS A BANK CLOTHIERS INC   2014-03-12 2014-04-03
663. JOHNSON OUTDOORS INC CL A   2014-03-12 2014-04-22
172. QUALCOMM INC COM   2014-03-12 2014-04-22
989. VANGUARD TOTAL STOCK MKT ETF   2013-04-30 2014-04-22
51. APPLE COMPUTER INC COM   2014-03-12 2014-05-14
220. CUMMINS INC   2014-03-12 2014-05-14
549. GILEAD SCIENCES INC   2014-04-22 2014-05-14
318. APPLE COMPUTER INC COM   2014-03-12 2014-07-16
122. BALCHEM CORP   2014-03-12 2014-07-16
790. KOSS CORP   2014-03-13 2014-07-16
338. OLD DOMINION FGHT LINE INC   2014-03-12 2014-07-16
155. SCHLUMBERGER LTD ORD   2014-03-12 2014-07-16
.6 ASTRONICS CORP CL B   2014-03-12 2014-09-29
268. ASTRONICS CORP   2014-03-12 2014-10-10
166. EXPRESS SCRIPTS HLDGS C   2014-03-12 2014-10-10
683. JOHNSON OUTDOORS INC CL A   2014-03-12 2014-10-10
226. LAKELAND INDUSTRIES INC   2014-03-12 2014-10-10
232. LAKELAND INDUSTRIES INC   2014-03-13 2014-10-10
665. PIKE CORPORATION   2014-03-12 2014-10-10
722. VANGUARD TOTAL STOCK MKT ETF   2013-04-30 2014-10-10
240. APPLE COMPUTER INC COM   2014-03-12 2014-11-04
53. ASTRONICS CORP   2014-03-12 2014-11-04
499. CAL MAINE FOODS INC   2014-03-12 2014-11-04
291.352 LAKELAND INDUSTRIES INC   2014-03-12 2014-11-04
424.648 LAKELAND INDUSTRIES INC   2014-05-14 2014-11-04
25.00024 ZEP INC   2014-03-12 2014-11-04
250.99976 ZEP INC   2014-03-12 2014-11-04
50. ZEP INC   2014-10-10 2014-11-04
151. PERRIGO CO LTD   2014-03-12 2014-11-04
. NET SETTLEMENT FROM CLASS ACTION SUIT     2014-11-24
. NET SETTLEMENT FROM CLASS ACTION SUIT     2014-11-24
75. APOGEE ENTERPRISES INC   2014-03-12 2014-12-05
106. APPLE COMPUTER INC COM   2014-03-12 2014-12-05
58. APTAR GROUP INC   2014-05-14 2014-12-05
88. BERKSHIRE HATHAWAY INC CL B   2014-03-12 2014-12-05
45. CUMMINS INC   2014-03-12 2014-12-05
201. E M C CORP MASS COM   2014-03-12 2014-12-05
165. EXPRESS SCRIPTS HLDGS C   2014-03-12 2014-12-05
90. FOSTER L B CO CL A   2014-03-12 2014-12-05
83.00197 GRANITE CONSTRUCTION INC   2014-03-12 2014-12-05
111.99803 GRANITE CONSTRUCTION INC   2014-03-12 2014-12-05
66. J & J SNACK FOODS CORP   2014-03-12 2014-12-05
195. LKQ CORP   2014-03-12 2014-12-05
240.99732 MARCUS CORP   2014-04-22 2014-12-05
74.00268 MARCUS CORP   2014-04-22 2014-12-05
64. MEAD JOHNSON NUTRITION CO   2014-03-12 2014-12-05
21. QUALCOMM INC COM   2014-07-16 2014-12-05
57. QUALCOMM INC COM   2014-07-16 2014-12-05
36. STERICYCLE INC COMMON STOCK   2014-03-12 2014-12-05
41. VARIAN MED SYS INC   2014-03-12 2014-12-05
590. VANGUARD TOTAL STOCK MKT ETF   2013-04-30 2014-12-05
88. VERISK ANALYTICS INC CL A   2014-03-12 2014-12-05
24. VISA INC   2014-03-12 2014-12-05
333. BERKSHIRE HATHAWAY INC CL B   2014-03-12 2014-12-17
1439. C J ENERGY SERVICES INC   2014-11-04 2014-12-17
2080. E M C CORP MASS COM   2014-03-12 2014-12-17
443. FIRST LONG ISLAND CORP   2014-10-10 2014-12-17
(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 234,162   187,389 46,773
b 154,676   164,121 -9,445
c 143,577   157,682 -14,105
d 771,956   741,137 30,819
e 254,876   214,190 40,686
1,076,392   849,429 226,963
180,058   209,007 -28,949
214,604   212,807 1,797
17,446   17,884 -438
72,449   72,348 101
15,116   15,491 -375
13,954   13,190 764
96,159   81,138 15,021
30,358   27,352 3,006
33,540   31,272 2,268
44,666   43,539 1,127
30,492   24,364 6,128
6,100   6,578 -478
2,228   3,758 -1,530
20,868   19,038 1,830
17,930   14,138 3,792
30   39 -9
11,644   13,893 -2,249
11,777   13,039 -1,262
17,755   17,762 -7
4,336   1,549 2,787
4,451   1,589 2,862
7,858   7,473 385
71,221   59,233 11,988
26,079   18,388 7,691
2,725   3,434 -709
21,519   14,480 7,039
3,805   1,996 1,809
5,545   2,982 2,563
395   455 -60
3,970   4,567 -597
791   665 126
24,119   25,018 -899
19     19
22     22
3,457   2,563 894
12,225   8,121 4,104
3,844   3,890 -46
13,241   11,002 2,239
6,784   6,397 387
6,080   5,463 617
13,917   12,961 956
4,566   4,164 402
3,015   3,197 -182
4,069   4,314 -245
7,054   6,270 784
5,669   5,330 339
4,078   4,269 -191
1,252   1,311 -59
6,611   5,341 1,270
1,543   1,676 -133
4,187   4,606 -419
4,698   4,173 525
3,571   3,477 94
63,099   48,404 14,695
5,542   5,607 -65
6,313   5,444 869
48,644   41,631 7,013
18,401   35,252 -16,851
58,646   56,534 2,112
11,356   11,947 -591
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       46,773
b       -9,445
c       -14,105
d       30,819
e       40,686
      226,963
      -28,949
      1,797
      -438
      101
      -375
      764
      15,021
      3,006
      2,268
      1,127
      6,128
      -478
      -1,530
      1,830
      3,792
      -9
      -2,249
      -1,262
      -7
      2,787
      2,862
      385
      11,988
      7,691
      -709
      7,039
      1,809
      2,563
      -60
      -597
      126
      -899
      19
      22
      894
      4,104
      -46
      2,239
      387
      617
      956
      402
      -182
      -245
      784
      339
      -191
      -59
      1,270
      -133
      -419
      525
      94
      14,695
      -65
      869
      7,013
      -16,851
      2,112
      -591
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 2 377,599
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 208,732 4,249,343 0.049121
2012 183,556 3,899,893 0.047067
2011 234,389 4,053,724 0.057821
2010 170,998 3,838,169 0.044552
2009 19,644 3,771,740 0.005208
2 Total of line 1, column (d) ...................... 2 0.203769
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 0.040754
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 4,531,105
5 Multiply line 4 by line 3....................... 5 184,661
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,017
7 Add lines 5 and 6......................... 7 188,678
8 Enter qualifying distributions from Part XII, line 4.............. 8 206,743
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 4,017
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 4,017
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 4,017
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 5,580
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 5,580
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,563
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,563 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)
    bulletMN
    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 BANK NATIONAL ASSOCIATION Telephone no.bullet (651) 466-8040
    Located atbulletP O BOX 64713 TRUST TAX SERVICESST PAULMN ZIP+4bullet55164
    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
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    RICHARD L PEMBERTON CO-TRUSTEE
    1     		0    
    LAW OFFICE BUILDING
    FERGUS FALLS,MN56537
    STEPHEN F RUFER CO-TRUSTEE
    1     		0    
    LAW OFFICE BUILDING
    FERGUS FALLS,MN56537
    MORRIE KERSHNER CO-TRUSTEE
    1     		0    
    LAW OFFICE BUILDING
    FERGUS FALLS,MN56537
    US BANK NA CORPORATE TRUSTEE
    1     		33,753    
    101 5TH STREET E
    ST PAUL,MN551640713
    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
    4,555,328
    b
    Average of monthly cash balances.......................
    1b
    44,779
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,600,107
    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
    4,600,107
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    69,002
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,531,105
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    226,555
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    226,555
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    4,017
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,017
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    222,538
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    222,538
    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
    222,538
    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
    206,743
    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
    206,743
    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
    4,017
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    202,726
    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 7 222,538
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 8,663
    b Total for prior years:20, 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$ 206,743
    a Applied to 2013, but not more than line 2a 8,663
    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..... 198,080
    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 ..........     		24,458
    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 e-mail address of the person to whom applications should be addressed:
    RICHARD L PEMBERTON AT US BANK
    101 EAST FIFTH STREET
    ST PAUL,MN55101
    (651) 466-8040
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION SHOULD BE SUBMITTED IN WRITTEN FORM OUTLINING THE NATURE OF THE REQUEST
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE TRUST HAS LIMITED THE GEOGRAPHIC AREA OF ITS' PROGRAM MAINLY TO FERGUS FALLS MN AND THE SURROUNDING AREA
    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
    FERGUS AREA COLLEGE FOUNDATION
    1414 COLLEGE WAY
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING EXPENSE 7,000
    CHRISTIAN CHILDRENS FUND INC
    2821 EMERYWOOD PARKWAY
    RICHMOND,VA23294     		NONE N/A CCF ADOPTION PLAN 288
    OPERATION BOOTSTRAP AFRICA
    122 WEST FRANKLIN AVE SUITE 306
    MINNEAPOLIS,MN55404     		NONE N/A GENERAL OPERATING FUNDS 1,500
    PIONEER HOME FOUNDATION
    1006 SOUTH SHERIDAN STREET
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING FUNDS 31,000
    OTTER TAIL COUNTY HISTORICAL
    SOCIETY
    1110 LINCOLN AVE W
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING FUNDS 20,000
    BOY SCOUTS OF AMERICA
    NORTHERN LIGHTS COUNCIL
    301 S 19TH AVENUE S
    FARGO,ND58103     		NONE N/A GENERAL OPERATING FUNDS 5,000
    KADDATZ GALLERIES
    111 WEST LINCOLN AVE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING SUPPORT 12,500
    HABITAT FOR HUMANITY
    1500 SOUTH CASCADE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING SUPPORT 5,000
    OAK GROVE CEMETERY
    1509 EAST MOUNT FAITH AVE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING SUPPORT 500
    FRIENDS OF THE PRAIRIE WETLANDS
    602 HIGHWAY 210 BYP SE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL OPERATING SUPPORT 3,000
    MACALESTER COLLEGE
    1600 GRAD AVENUE
    ST PAUL,MN55105     		NONE N/A SCHOLARSHIP SUPPORT 1,000
    LUTHER COLLEGE
    700 COLLEGE DRIVE
    DECORAH,IA52101     		NONE N/A SCHOLARSHIP SUPPORT 1,000
    NON-VIOLENT PEACE FORCE
    425 OAK GROE STREET
    MINNEAPOLIS,MN55403     		NONE N/A GENERAL OPERATING SUPPORT 2,000
    FERGUS FALLS AREA FAMILY YMCA
    1164 FRIBERG AVENUE
    FERGUS FALLS,MN56537     		NONE N/A REPAIR RACQUETBALL COURT 10,000
    FERGUS FALLS CENTER FOR THE ARTS
    124 WEST LINCOLN AVE
    FERGUS FALLS,MN56537     		NONE N/A INTERIM MATCHING MONEY 10,836
    CLAIRE ANN SHOVER NURSERY
    522 SPRUCE STREET
    FERGUS FALLS,MN56537     		NONE N/A OPERATING SUPPORT 1,000
    WEST CENTRAL MN EDUCATIONAL TV CO
    DBA PIONEER PUBLIC TELEVISION
    120 W SCHLIEMAN AVENUE
    APPLETON,MN56208     		NONE N/A GENERAL OPERATING SUPPORT 2,000
    FERGUS FALLS 544 EDUCATION
    518 FRIBERG AVE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL 40,000
    WEST CENTRAL INITIATIVE
    PERNHAM HOSPITAL
    1000 WESTERN AVE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL 5,000
    FERGUS FALLS AREA YOUTH
    ACTIVITIES INC
    PO BOX 821
    FERGUS FALLS,MN56538     		NONE N/A GENERAL 3,000
    FRIENDS SCHOOL OF MN
    1365 ENGLEWOOD AVE
    ST PAUL,MN55104     		NONE N/A GENERAL 5,000
    AMERICAN NATIONAL RED CROSS
    RED RIVER VALLEY CHAPTER
    26012 12TH ST
    FARGO,ND58102     		NONE N/A GENERAL 5,000
    ST JAMES EPISCOPAL CHURCH
    321 S LAKESIDE DRIVE
    FERGUS FALLS,MN56537     		NONE N/A GENERAL 10,000
    MINNESOTA BREASTFEEDING ORG
    1941 ASHLAND AVE
    ST PAUL,MN55104     		NONE N/A GENERAL 1,000
    KIDS FIRST PRESCHOOL
    FIRST LUTHERAN CHURCH
    912 LAKE AVENUE
    DETROIT LAKES,MN56501     		NONE N/A OPERATING SUPPORT 500
    PROSPECT HOUSE MUSEUM
    403 N LAKE AVENUE
    BATTLE LAKE,MN56515     		NONE N/A OPERATING SUPPORT 500
    LAURA BAKER SCHOOL ASSOCIATION
    211 OAK STREET
    NORTHFIELD,MN55057     		NONE N/A OPERATING SUPPORT 1,500
    WORLD FOOD PROGRAM USA
    1725 EYE STREET NW SUITE 510
    WASHINGTON,DC20006     		NONE N/A OPERATING SUPPORT 1,000
    FERGUS FALLS POLICE DEPARTMENT
    122 W JUNIUS AVENUE
    FERGUS FALLS,MN565372251     		NONE N/A OPERATING SUPPORT 397
    Total .................................bullet 3a 186,521
    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 ............     		    14 15  
    4 Dividends and interest from securities....     14 57,050  
    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 .............     		    18 377,599  
    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)..   434,664  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13434,664
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION 1,500     1,500

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Name of Stock End of Year Book Value End of Year Fair Market Value
    APPLE INC 70,125 99,342
    ATRION CORP 12,394 13,600
    BAR HBR BANKSHARES 5,278 6,624
    COACH INC 102,634 90,444
    DAWSON GEOPHYSICAL CO 5,515 2,336
    JOHNSON OUTDOORS INC 31,039 40,217
    FLOWERS FOODS INC 22,843 21,589
    BERKSHIRE HATHAWAY INC CL B 88,264 106,006
    LKQ CORP 52,572 54,778
    CUMMINS INC 39,513 40,800
    HAWKINS INC 11,340 13,346
    HINGHAM INSTITUTION FOR SAVING 13,877 14,792
    HOOKER FURNITURE CORP 16,927 18,715
    HYSTER YALE MATERIALS 16,076 16,324
    ASTEC INDUSTRIES INC 32,569 30,387
    BADGER METER INC 9,148 10,149
    BALDWIN LYONS INC 10,878 10,905
    COGNIZANT TECH SOLUTIONS CL A 99,251 103,793
    BUCKLE INC 11,059 12,605
    CABOT MICROELECTRONICS CORP 13,583 14,433
    COLUMBUS MCKINNON CORP 18,067 18,002
    CUBIC CORP 15,835 15,634
    E M C CORPORATION 36,973 40,476
    DRIL QUIP INC 24,174 18,032
    ESPEY MFG & ELECTRONICS CORP 15,060 12,281
    GOOGLE INC CL A 33,488 29,717
    EXPRESS SCRIPTS HLDGS C 95,306 105,075
    FOSTER L B CO 44,111 46,433
    GULF IS FABRICATION INC 25,927 23,307
    HARDINGE INC 22,764 18,488
    KMG CHEMICALS INC 10,029 13,500
    KEWAUNEE SCIENFTIFIC CORP 8,039 8,135
    M F R INC 19,086 8,545
    M K S INSTRUMENTS INC 12,756 15,152
    MARTEN TRANSPORTATION LTD 9,633 10,143
    AMPCO-PITTSBURG CORP 7,784 8,201
    CAL MAINE FOODS INC 29,961 31,575
    SCHLUMBERGER LTD 72,485 69,268
    ISHARES MSCI EAFE INDEX FD    
    FIRST LONG ISLAND CORP 3,734 4,426
    GORMAN RUPP CO 73,514 73,491
    GRAHAM CORP 27,263 23,706
    GRANITE CORP 79,542 78,549
    ICU MEDICAL INC 12,031 16,626
    CPI AEROSTRUCTURES INC 13,276 9,791
    FREIGHTCAR AMER INC 19,230 19,996
    GOOGLE INC CL C 35,329 31,584
    GULFMARK OFFSHORE INC CL A 32,762 18,095
    KANSAS CITY LIFE INS CO 19,361 20,701
    LAKELAND INDUSTRIES INC 5,850 7,730
    LSB INDS INC 5,389 5,125
    M T BANK CORP 78,036 83,035
    MARCUS CORP 73,965 81,851
    MEAD JOHNSON NUTRITION CO 49,652 59,821
    MERIT MED SYS INC 14,021 15,978
    MILLER INDUSTRIES INC 13,247 14,179
    MITCHAM INDS INC 12,883 5,373
    APOGEE ENTERPRISES INC 17,562 21,778
    APTAR GROUP INC 65,230 66,907
    FURMANITE CORP 13,551 10,338
    J & J SNACK FOODS CORP 71,846 81,904
    KOSS CORP 5 2
    L S I INDUSTRIES INC 23,979 20,574
    ABERDEEN FDS EMRGING MKT INSTL    
    CONSUMER STAPLES SPDR    
    ISHARES DOW JONES US REAL ESTA    
    NUVEEN GLOBAL INFRS. FUND CL I    
    SPDR WILSHIRE INTERNATIONAL    
    TECHNOLOGY SELECT SECTOR SPDR    
    VANGUARD EXTENDED MARKET VIPER    
    VANGUARD TOTAL STOCK MKT EIF 1,177,767 1,501,596
    MONARCH CASINO & RESORTS INC 16,559 14,549
    MSA SAFETY INC 24,772 23,997
    NATIONAL OILWELL VARCO INC 64,834 62,647
    NATIONAL PRESTO INDS INC 25,715 18,863
    NOW INC DE W I 4,685 3,860
    OIL DRI CROP AMER 11,623 10,996
    POWELL INDS INC 17,364 12,562
    PRICELINE COM INC 64,895 58,151
    QUALCOMM INC 117,554 114,691
    RPC ENERGY SVCS INC 13,639 9,493
    SANDERSON FARMS INC 19,212 21,006
    SIFCO INDS INC 19,318 19,181
    SPAN AMERICA MEDICAL SYS INC 16,001 13,552
    STARRETT L S CO 5,529 6,378
    STEPAN CO 8,327 5,371
    STERICYCLE INC 67,467 76,289
    STURM RUGER & CO INC 98,580 59,806
    SUN HYDRAULICS CORP 26,853 24,494
    SYNALLOY CORP 14,956 18,807
    THOR INDUSTRIES INC 11,992 11,342
    TOOTSIE ROLL INDS 3,648 3,862
    TWIN DISC INC 18,911 14,915
    UNIT CORP 88,210 53,060
    UTAH MED PRODS INC 43,369 47,319
    VALUE LINE INC 6,562 6,993
    VARIAN MED SYS INC 55,297 56,405
    VERISK ANALYTICS INC CL A 53,029 53,482
    VISA INC 47,972 56,635
    WIES MKTS INC 31,934 30,700
    ZEP INC 8,092 8,105
    CORE LABORATORIES N V 55,910 53,551
    PERRIGO CO LTD 48,239 49,814

    TY 2014 LegalFeesSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 2,110 1,055   1,055


    TY 2014 OtherAssetsSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INCOME 2,949 0 0


    TY 2014 OtherExpensesSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEE 25 0   25
    COURT FEES 57 0   57


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CO-TRUSTEE FEES 15,789 1,579   14,210


    TY 2014 TaxesSchedule
    Name:
    R L & A C DELL CHARITABLE TRUST UMA
    EIN: 41-6046675
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAX PAYMENT - PRIOR YE 3,941 0   0
    FEDERAL TAX 5,580 0   0