TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
ERNEST G DEBAKEY CHARITABLE FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)33561 BOARDWALK DRIVE Room/suite

City or town, state or province, country, and ZIP or foreign postal code
SPANISH FORT, AL36527

A Employer identification number

72-1374786

B Telephone number (see instructions)

(251) 621-1344

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$19,470,370J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	101,000
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	84		84
4	Dividends and interest from securities......	486,616		486,616
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		992,274
b	Gross sales price for all assets on line 6a 6,035,401
7	Capital gain net income (from Part IV, line 2)...			992,274
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		5,716	2,498
12	Total. Add lines 1 through 11........	1,585,690		1,481,472
13	Compensation of officers, directors, trustees, etc.	31,471		15,735	15,736
14	Other employee salaries and wages......	25,000		0	25,000
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		6,000	3,000	3,000
b	Accounting fees (attach schedule).......		6,250	3,125	3,125
c	Other professional fees (attach schedule)....		91,775	91,775	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		38,132	36,208	1,924
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	98		0	98
22	Printing and publications..........
23	Other expenses (attach schedule).......		19,954	7,899	12,055
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	218,680		157,742	60,938
25	Contributions, gifts, grants paid........	820,672			820,672
26	Total expenses and disbursements. Add lines 24 and 25	1,039,352		157,742	881,610
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	546,338
b	Net investment income (if negative, enter -0-)			1,323,730
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	829,642	768,947	768,947
	2	Savings and temporary cash investments..........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,984,660	2,085,314	2,157,716
	b	Investments—corporate stock (attach schedule)........	4,922,963	3,228,190	4,488,004
	c	Investments—corporate bonds (attach schedule)........	7,154,824	7,359,349	7,614,180
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	1,906,174	3,906,174	4,441,523
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	16,798,263	17,347,974	19,470,370
	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 )	1,576	1,588
	23	Total liabilities (add lines 17 through 22)..........	1,576	1,588
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	16,796,687	17,346,386
	30	Total net assets or fund balances (see instructions)......	16,796,687	17,346,386
	31	Total liabilities and net assets/fund balances (see instructions)..	16,798,263	17,347,974

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	16,796,687
2	Enter amount from Part I, line 27a.....................	2	546,338
3	Other increases not included in line 2 (itemize)	3	3,361
4	Add lines 1, 2, and 3..........................	4	17,346,386
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	17,346,386

Form 990-PF (2014)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation
1 a	PUBLICLY TRADED SECURITIES	P
b	CAPITAL GAINS DIVIDENDS	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	5,837,176	5,043,127	794,049
b	198,225		198,225
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			794,049
b			198,225
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	992,274
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2013	720,846	18,274,017	0.039446
2012	1,004,363	17,713,552	0.056700
2011	966,786	17,302,104	0.055877
2010	526,220	16,197,074	0.032489
2009	993,346	15,173,473	0.065466

2	Total of line 1, column (d) ......................	2	0.249978
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	0.049996
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	19,084,161
5	Multiply line 4 by line 3.......................	5	954,132
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	13,237
7	Add lines 5 and 6.........................	7	967,369
8	Enter qualifying distributions from Part XII, line 4..............	8	881,610
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2014)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	26,475
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	26,475
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	26,475
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	20,160
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	20,160
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	6,315
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

NICOLE MASSINGILL Telephone no. bullet

(251) 621-1344

Located at bullet

1729 SPRINGHILL AVENUEMOBILEAL ZIP+4 bullet

36604

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Form 990-PF (2014)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2014?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?........................YesNo

If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2014.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)..................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.......................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2014)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
FRANK L MCPHILLIPS MD	DIRECTOR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	DIRECTOR 0.10	3,000	0	0
KERMIT BISHOP	DIRECTOR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	DIRECTOR 0.10	3,000	0	0
MARSHA DEBAKEY	PRES/TRE/DIR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	PRES/TRE/DIR 0.10	3,000	0	0
FT BOUDREAU III MD	DIRECTOR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	DIRECTOR 0.10	3,000	0	0
JOHN H MARTIN	SEC/DIRECTOR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	SEC/DIRECTOR 0.10	3,000	0	0
LEIGH ANNE FLEMING	DIRECTOR 0.10	3,000	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	DIRECTOR 0.10	3,000	0	0
TRUSTMARK	TRUSTEE 0.10	13,471	0	0
1729 SPRINGHILL AVENUE MOBILE,AL36604	TRUSTEE 0.10	13,471	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

18,363,333

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

1,011,450

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

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

19,374,783

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

19,374,783

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

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

290,622

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

19,084,161

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

954,208

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

954,208

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

26,475

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

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

26,475

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

927,733

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

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

927,733

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

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

927,733

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

881,610

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

881,610

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

881,610

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7					927,733
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......
b From 2010.......
c From 2011.......	23,999
d From 2012.......	134,553
e From 2013.......
fTotal of lines 3a through e.........		158,552
4Qualifying distributions for 2014 from Part
XII, line 4: $ 881,610
a Applied to 2013, but not more than line 2a					0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions).........		0
d Applied to 2014 distributable amount.....					881,610
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2014.		46,123			46,123
(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		112,429
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		112,429
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....	112,429
d Excess from 2013....
e Excess from 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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

NICOLE MASSINGILL
33561 BOARDWALK DRIVE
SPANISH FORT,AL36527
(251) 621-1344

bThe form in which applications should be submitted and information and materials they should include:

NO FORMS; LETTER TO OUTLINE REQUEST

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

NONE

Form 990-PF (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ASSISTANCE LEAGUE OF MOBILE PO BOX 850212 MOBILE,AL36685			COMMUNITY WELFARE	15,000
AUTISM AVENUE 164 ST FRANCIS ST MOBILE,AL36602			COMMUNITY WELFARE	10,000
CARMEL HEALTH NETWORK 1835 OLD SHELL RD MOBILE,AL36607			COMMUNITY WELFARE	40,000
L'ARCHE MOBILE INC 151 S ANN ST MOBILE,AL36604			COMMUNITY WELFARE	15,000
LAURA CRANDALL BROWN CANCER FOUNDATION PO BOX 26791 BIRMINGHAM,AL36260			COMMUNITY WELFARE	10,000
MOBILE MEDICAL MUSEUM 1664 SPRINGHILL AVE MOBILE,AL36604			COMMUNITY WELFARE	10,000
MULHERIN HOME 2496 HALLS MILL ROAD MOBILE,AL36606			COMMUNITY WELFARE	15,000
CHRISTIAN MEDICAL MINISTRY 1530 3RD AVENUE SOUTH BIRMINGHAM,AL352943412		PUBLIC	COMMUNITY WELFARE	35,000
DRUG EDUCATION COUNCIL 3000 TELEVISION AVENUE MOBILE,AL36606		PUBLIC	EDUCATION	10,000
GULF COAST EXPLOREUM 65 GOVERNMENT ST MOBILE,AL36602		PUBLIC	COMMUNITY WELFARE	7,500
INFIRMARY FOUNDATION 5 MOBILE INFIRMARY CIRCLE MOBILE,AL36607		PUBLIC	COMMUNITY WELFARE	281,000
KERRI CASTELLO CANCER RESEARCH FOUNDATION 9390 TIMBER CREEK BLVD SPANISH FORT,AL36527		PUBLIC	COMMUNITY WELFARE	25,000
MOBILE AREA COUNCIL 2587 GOVERNMENT BLVD MOBILE,AL36606		PUBLIC	COMMUNITY WELFARE	600
MOBILE COUNTY HEALTH DEPARTMENT 251 NORTH BAYOU STREET MOBILE,AL36603		PUBLIC	COMMUNITY WELFARE	25,605
OZANAM CHARITABLE PHARMACY 571 DAUPHIN ST MOBILE,AL36602		PUBLIC	COMMUNITY WELFARE	8,000
TULANE UNIVERSITY 6823 ST CHARLES AVENUE NEW ORLEANS,LA70118		PUBLIC	EDUCATION	102,509
UNIVERSITY OF ALABAMA AT BIRMINGHAM 1720 2ND AVE SOUTH BIRMINGHAM,AL35294		PUBLIC	EDUCATION	25,458
UNIVERSITY OF SOUTH ALABAMA 307 NORTH UNIVERSITY BLVD MOBILE,AL36608		PUBLIC	EDUCATION	160,000
THE EXCEPTIONAL FOUNDATION 28788 N MAIN ST DAPHNE,AL36526			COMMUNITY WELFARE	10,000
VICTORY HEALTH PARTNERS 3750 PROFESSIONAL PKWY MOBILE,AL36609			COMMUNITY WELFARE	15,000
Total ................................. 3a				820,672

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
aPROGRAM SERVICE FEES					3,218
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	84
4 Dividends and interest from securities....			14	486,616
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....			14	2,498
8 Gain or (loss) from sales of assets other than inventory .............			18	992,274
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		1,481,472	3,218

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

131,484,690

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
1	ALLOWS FOUNDATION TO CONTINUE HELPING MEDICAL NON-PROFITS

Form 990-PF (2014)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

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

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

OMB No. 1545-0047

2014

Name of the organization

ERNEST G DEBAKEY CHARITABLE FOUNDATION

Employer identification number

72-1374786

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

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

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

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

501(c)(3) taxable private foundation

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

General Rule

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

Special Rules

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

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

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

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

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

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

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

Page 2

Name of organization ERNEST G DEBAKEY CHARITABLE FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	ESTATE OF ERNEST G DEBAKEY 33561 BOARDWALK DRIVE SPANISH FORT, AL36527	$101,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

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

Page 3

Name of organization ERNEST G DEBAKEY CHARITABLE FOUNDATION

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

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

Page 4

Name of organization
ERNEST G DEBAKEY CHARITABLE FOUNDATION

Employer identification number

72-1374786

Part III

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

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

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

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

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

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

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

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

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

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

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

Additional Data

Software ID:
Software Version:

- TIN:

TY 2014 AccountingFeesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	6,250	3,125		3,125

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BURLINGTON NORTHERN SANTA FE 5.75% DUE 03/15/2018	151,992	168,129
CAROLINA POWER & LIGHT CO 5.25% DUE 12/15/2015	147,497	156,570
CONOCO INC USD 6.95% DUE 04/15/2029	177,255	199,827
DIAMOND OFFSHORE DRILLING 5.875% DUE 5/01/2019	157,000	163,469
GENERAL ELECTRIC CAP CORP 4.875% DUE 3/04/2015	148,148	151,098
HALIBURTON CO 5.9% DUE 09/15/2018	151,938	169,584
IBM CORP 7.0% DUE 10/30/2025	172,018	197,822
KINDER MORGAN ENERGY 5.95% DUE 02/15/2018	156,211	165,600
ELI LILLY & CO 5.5% DUE 03/15/2027	149,802	180,321
MCDONALDS CORP 5.8% DUE 10/15/2017	152,464	167,634
UNITED TECHNOLOGIES CORP 6.125% DUE 02/01/2019	160,550	174,153
VALERO ENERGY CORP 7.5% DUE 4/15/2032	160,600	188,490
GEORGIA POWER COMPANY 4.25% DUE 12/01/19	149,534	164,481
UNITED TECHNOLOGIES CORP NOTE 4.875% DUE 05/01/15	81,045	81,120
ARCHER DANIELS MIDLAND CO 4.479% DUE 03/01/2021	155,738	165,756
MICROSOFT CORP NOTE 3.000% DUE 10/01/2020	202,804	208,510
WEATHERFORD INTERNATIONAL 6.350% DUE 06/15/2017	158,180	160,350
AT&T INC 2.500% DUE 08/15/2015	54,427	54,583
GENERAL ELECTRIC CAP CORP 2.950% DUE 05/09/2016	70,015	72,043
MICROSOFT CORP 2.500% DUE 02/08/2016	61,267	61,418
VALERO ENERGY CORP NEW SR NT 4.750% DUE 04/01/2014	89,511	87,873
HOME DEPOT INC. 5.4% DUE 03/01/16	84,790	84,425
INTEL CORP NOTE 1.95% DUE 10/01/16	71,551	71,358
INTERNATIONAL BUSINESS MACHINES CORP. .75% DUE 5/11/15	100,085	100,175
AMERICAN EXPRESS CR CORP 2.375% DUE 3/24/2017	151,774	153,398
JOHN DEERE CAPITAL CORP 2.750% DUE 03/15/2022	152,040	149,039
HOME DEPOT INC. SR NT 4.4% DUE 04/01/21	166,540	166,872
TARGET CORP NOTE 3.875% DUE 07/15/2020	168,060	161,582
AT&T INC 5.55% DUE 8/15/2041	154,199	167,145
CAMERON INTERNATIONAL CORP 4% DUE 12/15/2023-2023	150,157	149,619
MONDELEZ INTERNATIONAL INC 6.5% DUE 11/1/2031	146,882	194,811
NOBLE HOLDING INTL LTD 3.95% DUE 3/15/2022	153,786	131,408
VERIZON COMMUNICATIONS 1.1% DUE 11/1/2017	148,144	147,732
ANHEUSER BUSCH COS INC 5.05% DUE 10/15/2016	86,367	85,550
APACHE CORP 5.625% DUE 1/15/2017	88,583	86,443
APPLE INC 1% DUE 5/3/2018	68,481	68,961
BURLINGTON NORTH SANTA FE 5.65% DUE 5/1/2017	88,376	87,749
JOHN DEERE CAPITAL CORP 2.8% DUE 9/18/2017	78,887	77,937
DOW CHEMICAL CO 5.7% DUE 5/15/2018	23,574	23,313
ENTERPRISE PRODUCTS OPER 3.2% DUE 2/1/2016	82,598	81,894
KRAFT FOODS GROUP INC 6.125% DUE 8/23/2018	93,160	91,474
MCDONALDS CORP 5.8% DUE 10/15/2017	90,717	89,405
MONSANTO COMPANY 5.125% DUE 4/15/2018	89,008	88,532
RIO TINTO FIN USA PLC 2.25% DUE 12/14/2018-2018	78,625	80,162
3M COMPANY 1.375% DUE 9/29/2016	80,666	80,895
WAL-MART STORES INC 5.8% DUE 2/15/2018	92,631	90,426
INTEL CORP 3.3% DUE 10/1/2021	211,485	209,726
BARRICK NA FINANCE LLC 4.4% DUE 05/30/2021	153,259	151,463
CENTERPOINT ENER 2.25% DUE 08/01/2022	143,787	143,673
COMCAST CORPORATION 3.6% DUE 03/01/2024	153,557	157,535
FEDEX 4% DUE 01/15/2024	155,003	159,659
VIRGINIA ELECTRIC & POWER CO 2.95% DUE 01/15/2022	198,794	201,978
BOEING CO 6% DUE 03/15/2019	87,777	86,558
BRISTOL MYERS SQUIBB CO 1.75% DUE 03/01/2019	79,327	79,439
COMCAST CORPORATION 5.7% DUE 07/01/2019	87,674	86,106
DOMINION RESOURCE INC 2.5% DUE 12/01/2019	75,484	75,219
FORD MOTOR CREDIT CO LLC 3% DUE 06/12/2017	77,067	76,951
HALLIBURTON COMPANY 6.15% DUE 09/15/2019	93,370	92,658
MEDTRONIC INC 1.375% DUE 04/01/2018	74,745	74,220
UNITED PARCEL SERVICE INC 5.125% DUE 04/01/2019	90,273	89,880
WELLS FARGO AND CO 2.125% DUE 04/22/2019	80,070	79,979

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Name of Stock	End of Year Book Value	End of Year Fair Market Value
GENERAL MARITIME CORP NEW	24,803	0
ABBOT LABORATORIES COM	68,884	109,399
AMERICAN EXPRESS COMPANY	28,499	58,336
APPLE INC COM	115,536	213,033
COSTCO WHOLESALE CORP NEW	47,068	75,128
DANAHER CORPORATION	40,882	77,139
DIRECTV COM CL A	35,311	62,424
EMC CORP MASS	104,190	138,588
GOOGLE INC CL A	79,255	106,132
INTERNATIONAL BUSINESS MACHINES- COMMON	105,403	99,473
PRAXAIR, INC	79,604	99,761
QUALCOMM INCORPORATED	108,560	149,403
TJX COMPANIES INC	27,617	69,952
UNITED TECHNOLOGIES CORP	75,658	116,150
WAL MART STORES, INC	122,050	158,878
COCA COLA CO COM	77,963	91,195
CVS CAREMARK CORP DELAWARE	62,293	147,354
ECOLAB INCORPORATED	43,117	79,435
HOME DEPOT INCORPORATED	47,855	87,125
KROGER CO	59,970	102,094
MASTERCARD INCORPORATED	34,653	86,160
SCHLUMBERGER LIMITED COM	122,654	120,428
VERIZON COMMUNICATIONS, INC	155,212	159,988
AMGEN INC.	58,136	103,538
COMCAST CORPORATION CL A	116,733	183,892
EXPRESS SCRIPTS HLDG CO COMM	87,122	123,618
HONEYWELL INTERNATIONAL INC COM	44,390	66,946
MCKESSON CORP COM	36,283	64,350
ORACLE CORPORATION	137,091	183,028
STERICYCLE, INC	78,136	110,107
UNION PACIFIC CORP	66,970	114,365
VIACOM INC CLASS B	44,372	69,230
ABBVIE INC COM	54,242	89,653
AUTOZONE INC COM	98,269	142,395
JOHNSON AND JOHNSON COM	90,139	105,616
SOUTHWEST AIRLINES CO COM	26,405	59,248
VERISIGN INC COM	68,277	67,830
WALT DISNEY COMPANY	65,125	81,003
DOLLAR TREE, INC.	45,758	45,747
EXPEDITORS INTL WASH INC	58,985	58,885
FEDEX CORP	49,444	62,518
GENERAL MILLS INC	82,588	89,061
GOOGLE INC	51,674	78,960
SOUTHWESTERN ENERGY COMPANY	126,018	88,420
3M COMPANY	74,996	92,019

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

US Government Securities - End of Year Book Value:

2,085,314

US Government Securities - End of Year Fair Market Value:

2,157,716

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

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

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AMERICAN FUNDS EUROPACIFIC GROWTH FD F2	AT COST	1,033,706	1,340,427
LKCM SMALL CAP INSTITUTIONAL	AT COST	872,468	1,196,334
GABELLI FOCUS FIVE FUND	AT COST	1,000,000	904,762
EVANSTON ALTERNATIVE OPPORTUNITIES FUND	AT COST	1,000,000	1,000,000

- TIN:

TY 2014 LegalFeesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL	6,000	3,000		3,000

- TIN:

TY 2014 OtherExpensesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
TELEPHONE	1,079	0	1,079
OFFICE EXPENSES	821	0	821
DUES	0	0	0
INSURANCE	10,155	0	10,155
INTEREST INVESTMENT EXPENSE	7,871	7,871	0
MISC. EXPENSES	28	28	0
FACILITIES & EQUIPMENT	0	0	0

- TIN:

TY 2014 OtherIncomeSchedule2

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
ROYALTY INCOME	2,321	2,321	2,321
SECURITIES LITIGATION	177	177	177
PROGRAM SERVICE FEES	3,218		3,218

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Description	Amount

- TIN:

TY 2014 OtherLiabilitiesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Description	Beginning of Year - Book Value	End of Year - Book Value
PAYROLL TAX LIABILITY	1,576	1,588

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES	71,775	71,775		0
MANAGEMENT FEES	20,000	20,000		0

- TIN:

TY 2014 TaxesSchedule

Name:

ERNEST G DEBAKEY CHARITABLE FOUNDATION

EIN: 72-1374786

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FEDERAL TAXES PAID	32,340	32,340	0
PAYROLL TAXES	1,924	0	1,924
FOREIGN TAXES	3,868	3,868	0