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
BERT SANTORA CHARITABLE TRUST
 

Number and street (or P.O. box number if mail is not delivered to street address)5 FORD AVE PO BOX 430   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ONEONTA, NY13820
A Employer identification number

26-6094914
B Telephone number (see instructions)

(607) 433-4129
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$2,356,784J 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 2,468 2,468  
4 Dividends and interest from securities...... 57,725 57,725  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 14,393
b Gross sales price for all assets on line 6a 143,081
7 Capital gain net income (from Part IV, line 2)... 14,393
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........ 74,586 74,586  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 10,010 10,010    
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 2,373 0 0 2,373
b Accounting fees (attach schedule)....... Click to see attachment 250 0 0 250
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 594     594
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 250     250
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 13,477 10,010 0 3,467
25 Contributions, gifts, grants paid........ 104,000 104,000
26 Total expenses and disbursements. Add lines 24 and 25 117,477 10,010 0 107,467
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -42,891
b Net investment income (if negative, enter -0-) 64,576
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............... 286 471 471
2 Savings and temporary cash investments.......... 183,714 145,491 145,491
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) 249,086 Click to see attachment322,924 340,683
b Investments—corporate stock (attach schedule)........ 791,155 Click to see attachment779,597 1,341,482
c Investments—corporate bonds (attach schedule)........ 296,043 Click to see attachment246,289 257,498
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 286,678 Click to see attachment269,299 271,159
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) 1,806,962 1,764,071 2,356,784
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................... 0 1,764,071
25 Temporarily restricted................    
26 Permanently restricted................ 1,806,962  
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
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)...... 1,806,962 1,764,071
31 Total liabilities and net assets/fund balances (see instructions).. 1,806,962 1,764,071
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 1,806,962
2 Enter amount from Part I, line 27a..................... 2 -42,891
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 1,764,071
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 1,764,071
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 366.89 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-01-15
b 353.03 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-01-15
c 101.05 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-01-21
d 254.46 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-01-21
e 100. PHILLIPS 66   2007-02-05 2014-01-29
100. PHILLIPS 66   2007-08-31 2014-01-29
50. PHILLIPS 66   2008-02-22 2014-01-29
431.7 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-02-18
199.5 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-02-18
107.75 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-02-20
160.77 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-02-20
425.74 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-03-17
194.89 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-03-17
108.3 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-03-20
104.56 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-03-20
901.98 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-04-15
197.27 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-04-15
108.59 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-04-21
39.12 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-04-21
1731.98 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-05-15
353.25 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-05-15
50000. WAL-MART STORES INC NOTE 3.200% 5/15/14   2009-06-23 2014-05-15
249.04 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-05-20
297.38 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-05-20
400.18 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-06-16
269.94 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-06-16
102.91 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-06-20
289.86 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-06-20
393.77 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-07-15
191.73 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-07-15
2009.3 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-07-21
142.76 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-07-21
986.03 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-08-15
321.72 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-08-15
86.26 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-08-20
153.47 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-08-20
769.79 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-09-15
220.04 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-09-15
86.68 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-09-22
210.65 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-09-22
312.62 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-10-15
238.73 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-10-15
.665 CDK GLOBAL INC   2007-09-25 2014-10-16
2114.4 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-10-20
55.49 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-10-20
4629.629 PIMCO FUNDS PACIFIC INVESTMENT   2009-09-03 2014-10-21
132.667 CDK GLOBAL INC   2007-09-25 2014-10-27
33.333 CDK GLOBAL INC   2008-02-22 2014-10-27
275.13 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-11-17
293.48 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-11-17
70.59 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-11-20
32.98 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-11-20
277.39 GNMA #603320 5.500% 12/15/17   2006-05-04 2014-12-15
287.02 GNMA POOL #604956 5.000% 01/15/19   2006-12-21 2014-12-15
70.97 GNMA POOL #4021 5.500% 09/20/22   2007-10-11 2014-12-22
34.31 GNMA POOL #004177 5.000% 07/20/23   2008-05-29 2014-12-22
CAPITAL GAIN DIVIDENDS P    
(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 367   367  
b 353   352 1
c 101   101  
d 254   254  
e 7,411   3,077 4,334
7,411   3,794 3,617
3,705   1,821 1,884
432   432  
200   199 1
108   108  
161   161  
426   426  
195   194 1
108   108  
105   105  
902   902  
197   197  
109   109  
39   39  
1,732   1,732  
353   352 1
50,000   49,754 246
249   249  
297   297  
400   400  
270   269 1
103   103  
290   290  
394   394  
192   191 1
2,009   2,009  
143   143  
986   986  
322   321 1
86   86  
153   153  
770   770  
220   219 1
87   87  
211   211  
313   313  
239   238 1
17   12 5
2,114   2,114  
55   55  
50,648   50,000 648
3,945   2,346 1,599
991   508 483
275   275  
293   293  
71   71  
33   33  
277   277  
287   286 1
71   71  
34   34  
      1,567
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        
b       1
c        
d        
e       4,334
      3,617
      1,884
       
      1
       
       
       
      1
       
       
       
       
       
       
       
      1
      246
       
       
       
      1
       
       
       
      1
       
       
       
      1
       
       
       
      1
       
       
       
      1
      5
       
       
      648
      1,599
      483
       
       
       
       
       
      1
       
       
       
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 14,393
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 117,466 2,128,683 0.055182
2012 111,964 2,014,913 0.055568
2011 100,585 1,996,145 0.05039
2010 112,783 1,968,452 0.057295
2009 59,986 1,865,357 0.032158
2 Total of line 1, column (d) ...................... 2 0.250593
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 0.050119
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 2,249,411
5 Multiply line 4 by line 3....................... 5 112,738
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 646
7 Add lines 5 and 6......................... 7 113,384
8 Enter qualifying distributions from Part XII, line 4.............. 8 107,467
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 1,292
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 1,292
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,292
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a  
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. 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 1,292
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)
    bulletNY
    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 addressbulletN/A
    14
    The books are in care ofbulletCommunity Bank NA
    Attn Trust Dept     Telephone no.bullet (607) 433-4129
    Located atbullet5 FORD AVE PO BOX 430ONEONTANY ZIP+4bullet13820
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    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
     
     
    .........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
    Community Bank NA Trustee
    1     		10,010    
    5 Ford Ave PO Box 430
    Oneonta,NY13820
    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 TO ASSIST ORGANIZATIONS LISTED IN THE GRANTOR'S WILL BY PROVIDING FUNDS TO ACCOMPLISH THEIR GOALS THROUGH INCOME GENERATED BY THE TRUST ASSETS. 104,000
    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 N/A  
    2 N/A  
    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
    2,162,643
    b
    Average of monthly cash balances.......................
    1b
    121,023
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,283,666
    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
    2,283,666
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    34,255
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,249,411
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    112,471
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    112,471
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    1,292
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,292
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    111,179
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    111,179
    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
    111,179
    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
    107,467
    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
    107,467
    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
    107,467
    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 7 111,179
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 7,305
    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$ 107,467
    a Applied to 2013, but not more than line 2a 7,305
    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..... 100,162
    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 ..........     		11,017
    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).)
    NONE
    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.
    NONE
    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
    WSKG Public Radio
    PO BOX 3000
    Binghamton,NY13902     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 12,500
    Meridale Fire Dept & Emergency Squa
    50 COUNTY HWY 10
    Meridale,NY13806     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 18,500
    Delaware County Historical Assn
    46549 STATE HWY 10
    Delhi,NY13753     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 12,000
    Pine Grove Cemetery Assn
    1301 HOUGHTALING HOLLOW RD
    East Meredith,NY13757     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 3,000
    Hanford Mills Museum
    PO BOX 99
    East Meredith,NY13757     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 30,500
    The West Kortright Center
    49 WEST KORTRIGHT CHURCH RD
    East Meredith,NY13757     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 22,700
    Meredith Historical Society
    Attn Bernice Telian
    PO BOX 116
    Meridale,NY13806     		  NON-PROFIT PROVIDE FUNDS TO ASSIST IN 4,800
    Total .................................bullet 3a 104,000
    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 ............     		      0 2,468
    4 Dividends and interest from securities....       0 57,725
    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 .............     		      0 14,393
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   0 74,586
    13Total. Add line 12, columns (b), (d), and (e)..................
    1374,586
    (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.)
    4 THE PURPOSE OF THE TRUST IS TO ASSIST THE ORGANIZATIONS
    8 LISTED IN THE WILL OF BERT SANTORA BY PROVIDING FUNDS
    3 TO ACCOMPLISH THEIR GOALS THROUGH INCOME GENERATED BY THE
    3 INVESTMENTS OF THE TRUST ASSETS.
    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:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 250     250

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Name of Bond End of Year Book Value End of Year Fair Market Value
    WALMART STORES 3.200% 05/15/14    
    ANHEUSER BUSCH 5.000% 01/15/15 48,988 50,089
    GENERAL ELECTRIC 5.250% 12/06/ 50,169 55,465
    NOVARTIS CAP CORP 2.900% 04/24 24,767 25,194
    PROCTER & GAMBLE 1.80% 11/15/1 24,937 25,285
    CISCO SYSTEMS INC 4.45% 01/15/ 24,823 27,523
    APPLE INC 5% 1/15/15 24,913 24,973
    MICROSOFT 2.125% 11/15/22 22,980 24,258
    COCA COLA 1.15% 4/1/18 24,712 24,711

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3M COMPANY 37,187 82,160
    ABBOTT LABORATORIES 13,130 22,510
    ABBVIE INC 14,238 32,720
    AUTOMATIC DATA PROCESSING INC 19,808 41,685
    BB&T 18,285 19,445
    COCA COLA CO 20,873 42,220
    CONOCOPHILLIPS CO 29,252 34,530
    DEVON ENERGY CORP NEW 14,090 12,242
    DOW CHEMICAL CO 21,227 22,805
    EOG RESOURCES INC 13,703 36,828
    EXXON MOBIL CORP 35,384 46,225
    GENERAL ELECTRIC CO 26,574 25,270
    INTEL CORP 21,315 36,290
    IBM 15,773 32,088
    JOHNSON & JOHNSON 30,299 52,285
    JOHNSON CONTROLS INC 17,701 48,340
    MICROSOFT CORP 25,094 46,450
    NIKE INC CLASS B 14,084 48,075
    PEPSICO INC 28,802 47,280
    PFIZER INC 25,741 31,150
    PROCTER & GAMBLE CO 29,552 45,545
    SEMPRA ENERGY INC 23,235 55,680
    SYSCO CORP 33,298 39,690
    UNITED PARCEL SVC INC CL B 13,891 22,234
    UNITED TECHNOLOGIES CORP 21,466 57,500
    VERIZON COMMUNICATIONS CO 14,993 23,390
    VIACOM NEW CL B 10,379 18,813
    WALGREEN CO 17,778 38,100
    WALMART STORES INC 24,238 42,940
    WELLS FARGO & CO 17,264 27,410
    AT&T 28,691 33,590
    ILLINOIS TOOL WORKS INC 22,965 47,350
    MERCK & CO INC NEW 29,184 45,432
    PHILLIPS 66    
    ISHARES RUSSELL MIDCAP 20,918 36,880
    NOVARTIS 29,185 46,330
    ROYAL BANK OF CANADA    

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    US Government Securities - End of Year Book Value:

    123,838
    US Government Securities - End of Year Fair Market Value:

    124,190
    State & Local Government Securities - End of Year Book Value:


    199,086
    State & Local Government Securities - End of Year Fair Market Value:


    216,493


    TY 2014 InvestmentsOtherSchedule2
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GNMA POOL #507236 5.5% 7/15/14      
    GNMA POOL #603320 5.5% 12/15/1 FMV 7,882 8,326
    GNMA POOL #604956 5% 1/15/19 FMV 8,236 8,816
    GNMA POOL #4021 5.5% 9/20/22 FMV 1,752 1,849
    GNMA POOL #004177 5% 7/20/23 FMV 3,650 3,902
    DODGE & COX INT'L STOCK FD FMV 50,000 50,275
    PIMCO TOTAL RETURN FD      
    VANGUARD INFL PROTECTED SEC FMV 50,000 49,202
    LOOMIS SAYLES BOND INSTL FD FMV 50,000 51,007
    VANGUARD SHORT-TERM BOND ETF FMV 24,246 23,985
    VANGUARD SHORT-TERM CORP BOND FMV 23,533 23,889
    METROPOLITAN WEST TOTAL RETURN FMV 50,000 49,908

    TY 2014 LegalFeesSchedule
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - INCOME (ALLOCABLE 2,373     2,373


    TY 2014 OtherExpensesSchedule
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 250 0   250


    TY 2014 TaxesSchedule
    Name:
    BERT SANTORA CHARITABLE TRUST
    EIN: 26-6094914
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 416 0   416
    FEDERAL TAX PAYMENT - PRIOR YE 83 0   83
    FOREIGN TAXES ON QUALIFIED FOR 95 0   95