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
PATHFINDER FUND

Number and street (or P.O. box number if mail is not delivered to street address)179 HARVEY STREET Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CAMBRIDGE, MA02140

A Employer identification number

34-6536633

B Telephone number (see instructions)

(617) 868-1999

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

$0J 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	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	50,254
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	2,810		2,810	2,810
4	Dividends and interest from securities......	12,204		12,204	12,204
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		33,309
b	Gross sales price for all assets on line 6a 317,190
7	Capital gain net income (from Part IV, line 2)...			213
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	98,577		15,227	15,014
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		1,100
c	Other professional fees (attach schedule)....		6,824
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		634
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	8,558		0		0
25	Contributions, gifts, grants paid........	73,500				73,500
26	Total expenses and disbursements. Add lines 24 and 25	82,058		0		73,500
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	16,519
b	Net investment income (if negative, enter -0-)			15,227
c	Adjusted net income (if negative, enter -0-)...				15,014

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...............	11,272	35,516
	2	Savings and temporary cash investments..........	47,775	46,668
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	634,536	663,147
	c	Investments—corporate bonds (attach schedule)........	159,402	124,173
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........
	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)	852,985	869,504	0
	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 )
	23	Total liabilities (add lines 17 through 22)..........		0
		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.........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	852,985	869,504
	30	Total net assets or fund balances (see instructions)......	852,985	869,504
	31	Total liabilities and net assets/fund balances (see instructions)..	852,985	869,504

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	852,985
2	Enter amount from Part I, line 27a.....................	2	16,519
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	869,504
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	869,504

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.)
1a
b
c
d
e

(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
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(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
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	213
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	85,242	852,068	0.100041
2012	68,344	765,299	0.089304
2011	44,308	768,784	0.057634
2010	42,155	723,604	0.058257
2009	22,050	630,978	0.034946

2	Total of line 1, column (d) ......................	2	0.340182
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	0.068036
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	925,025
5	Multiply line 4 by line 3.......................	5	62,935
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	152
7	Add lines 5 and 6.........................	7	63,087
8	Enter qualifying distributions from Part XII, line 4..............	8	73,500
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	152
	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
3	Add lines 1 and 2...........................	3	152
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	152
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	155
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	155
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
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	3
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax3	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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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 .

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

PAT GOUDVIS Telephone no. bullet

(617) 868-1999

Located at bullet

179 HARVEY STCAMBRIDGEMA ZIP+4 bullet

02140

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
PAT GOUDVIS	TRUSTEE 0.50	0	0	0
179 HARVEY ST CAMBRIDGE,MA02138	TRUSTEE 0.50	0	0	0
ANN GOUDVIS	TRUSTEE 0.50	0	0	0
210 LIPAN WAY BOULDER,CO80303	TRUSTEE 0.50	0	0	0

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









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

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	N/A
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...................

868,591

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

70,521

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

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

939,112

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

939,112

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

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

14,087

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

925,025

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

46,251

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

46,251

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

152

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

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

152

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

46,099

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

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

46,099

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

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

46,099

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 ..........

73,500

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

73,500

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).................

152

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

73,348

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	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7			46,099
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2014:
a From 2009.......
b From 2010.......
c From 2011.......
d From 2012.......	23,582
e From 2013.......	42,955
fTotal of lines 3a through e.........		66,537
4Qualifying distributions for 2014 from Part
XII, line 4: $ 73,500
a Applied to 2013, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions).........
d Applied to 2014 distributable amount.....			46,099
e Remaining amount distributed out of corpus		27,401
5 Excess distributions carryover applied to 2014.
(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		93,938
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............
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) .......
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		93,938
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....	23,582
d Excess from 2013....	42,955
e Excess from 2014....	27,401

Form 990-PF (2014)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2014, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
RETHINKING SCHOOLS 1001 EAST KEEFE AVE MILWAUKEE,WI53212		PUBLIC	GENERAL	25,000
FOTOKIDS-FUNDACION DE NINOS ARTISTA PO BOX 661447 MIAMI,FL33266		PUBLIC	GENERAL	25,000
ONE DAY ON EARTH FOUNDATION PO BOX 710 SANTA MONICA,CA90401		PUBLIC	GENERAL	20,000
FILMAKERS COLLABORATIVE 6 EASTMAN PLACE STE 202 MELROSE,MA02176		PUBLIC	GENERAL	1,000
JUSTICE COMMITTEE 105 EAST 22ND ST NEW YORK,NY10010		PUBLIC	GENERAL	500
INSTITUTE FOR PEACABLE COMMUNITIES PO BOX 390-325 CAMBRIDGE,MA02139		PUBLIC	GENERAL	1,000
PEACE DEVELOPMENT FUND 44 N PROSPECT ST AMHERST,MA01002		PUBLIC	GENERAL	1,000
Total ................................. 3a				73,500

bApproved for future payment

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

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............			14	2,810
4 Dividends and interest from securities....			14	12,204
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 .............			14	213	33,096
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)..				15,227	33,096

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

1348,323

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2014)

Page 13

Part XVII

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

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

Yes

organizations?

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

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

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

OMB No. 1545-0047

2014

Name of the organization

PATHFINDER FUND

Employer identification number

34-6536633

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 PATHFINDER FUND

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	PATRICIA GOUDVIS 179 HARVEY ST CAMBRIDGE, MA02140	$50,254	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 PATHFINDER FUND

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
1	427 SHARES NATIONAL GRID	$ 30,203	2014-02-05
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
1	271 SHARES NATIONAL FUEL GAS CO	$ 20,051	2014-02-05
(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
PATHFINDER FUND

Employer identification number

34-6536633

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:

PATHFINDER FUND

EIN: 34-6536633

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES	1,100

- TIN:

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

TY 2014 GainLossSaleOtherAssetsSch

Name:

PATHFINDER FUND

EIN: 34-6536633

Name	Date Acquired	How Acquired	Date Sold	Gross Sales Price	Basis	Total (net)
ABB LTD	2013-11	PURCHASE	2014-09	7,955	8,568	-613
ANNIE'S, INC.	2013-11	PURCHASE	2014-09	7,233	7,481	-248
ANNIE'S, INC.	2014-03	PURCHASE	2014-09	5,574	4,874	700
APPLE INC.	2010-01	PURCHASE	2014-06	457	154	303
APPLE INC.	2013-11	PURCHASE	2014-06	7,680	6,249	1,431
APPLIED MATERIALS INC.	2013-11	PURCHASE	2014-06	9,702	7,648	2,054
BANCO BRADESCO SA	2013-11	PURCHASE	2014-05	6,060	5,118	942
DISCOVERY COMMUNICATIONS C	2012-08	PURCHASE	2014-12	3,325	2,654	671
DISCOVERY COMMUNICATIONS C	2013-11	PURCHASE	2014-12	3,062	3,863	-801
F5 NETWORKS INC.	2013-11	PURCHASE	2014-03	6,293	4,842	1,451
FRESENIUS MEDICAL CARE AG	2013-11	PURCHASE	2014-09	10,229	9,331	898
GILEAD SCIENCES INC.	2014-09	PURCHASE	2014-12	2,342	2,403	-61
GLAXO SMITHKLINE ADS	2013-11	PURCHASE	2014-09	13,112	14,362	-1,250
GOOGLE INC. CLASS C	2013-11	PURCHASE	2014-12	2,515	2,545	-30
GOOGLE INC. CLASS C	2013-07	PURCHASE	2014-12	1,509	1,334	175
GOOGLE INC. CLASS C	2012-01	PURCHASE	2014-12	4,527	2,640	1,887
IBM CORP	2009-09	PURCHASE	2014-03	3,546	2,268	1,278
IBM CORP	2013-11	PURCHASE	2014-03	4,106	4,014	92
ITC HLDGS CORP	2013-11	PURCHASE	2014-09	2,094	1,800	294
ITC HLDGS CORP	2013-12	PURCHASE	2014-09	8,044	7,004	1,040
ITC HLDGS CORP	2013-06	PURCHASE	2014-12	6,097	4,438	1,659
ITC HLDGS CORP	2013-11	PURCHASE	2014-12	586	474	112
ITRON INC.	2013-11	PURCHASE	2014-12	5,561	6,017	-456
ITRON INC.	2014-03	PURCHASE	2014-12	5,440	4,827	613
KEURIG GREEN MOUNTAIN, INC.	2013-10	PURCHASE	2014-06	5,600	2,917	2,683
KEURIG GREEN MOUNTAIN, INC.	2013-11	PURCHASE	2014-06	1,867	886	981
MIDDLEBY CORPORATION	2013-11	PURCHASE	2014-03	7,137	5,414	1,723
NATIONAL FUEL GAS CO.	2014-02	PURCHASE	2014-03	20,458	15,306	5,152
NATIONAL GRID TRANSCO	2014-02	PURCHASE	2014-03	32,444	24,942	7,502
ORACLE CORP	2010-11	PURCHASE	2014-07	20,000	21,610	-1,610
OWENS-ILLINOIS INC.	2012-01	PURCHASE	2014-09	8,543	6,357	2,186
OWENS-ILLINOIS INC.	2013-12	PURCHASE	2014-09	5,101	5,687	-586
PARNASSUS FD FIXED INCOME	2010-05	PURCHASE	2014-02	25,783	26,699	-916
PARNASSUS FD FIXED INCOME	2011-05	PURCHASE	2014-02	163	168	-5
PARNASSUS FD FIXED INCOME	2010-05	PURCHASE	2014-02	199	205	-6
PARNASSUS FD FIXED INCOME	2011-06	PURCHASE	2014-02	204	210	-6
PARNASSUS FD FIXED INCOME	2013-06	PURCHASE	2014-02	63	64	-1
PARNASSUS FD FIXED INCOME	2013-10	PURCHASE	2014-02	31	34	-3
PARNASSUS FD FIXED INCOME	2011-04	PURCHASE	2014-02	175	179	-4
PARNASSUS FD FIXED INCOME	2013-07	PURCHASE	2014-02	65	66	-1
PARNASSUS FD FIXED INCOME	2013-09	PURCHASE	2014-02	63	65	-2
PARNASSUS FD FIXED INCOME	2011-01	PURCHASE	2014-02	170	173	-3
PARNASSUS FD FIXED INCOME	2013-08	PURCHASE	2014-02	53	54	-1
PARNASSUS FD FIXED INCOME	2010-12	PURCHASE	2014-02	909	923	-14
PARNASSUS FD FIXED INCOME	2011-02	PURCHASE	2014-02	125	127	-2
PARNASSUS FD FIXED INCOME	2011-03	PURCHASE	2014-02	144	146	-2
PARNASSUS FD FIXED INCOME	2014-01	PURCHASE	2014-02	49	49
PARNASSUS FD FIXED INCOME	2013-11	PURCHASE	2014-02	45	46	-1
PARNASSUS FD FIXED INCOME	2013-11	PURCHASE	2014-02	623	641	-18
PARNASSUS FD FIXED INCOME	2013-12	PURCHASE	2014-02	49	49
ROCKWELL AUTOMATION INC	2013-01	PURCHASE	2014-12	7,092	5,909	1,183
ROCKWELL AUTOMATION INC	2014-06	PURCHASE	2014-12	3,976	4,651	-675
ROYAL BANK OF CANADA	2013-11	PURCHASE	2014-03	8,870	9,237	-367
SVB FINANCIAL GROUP	2013-11	PURCHASE	2014-03	6,240	4,733	1,507
SYMANTEC CORPORATION	2012-11	PURCHASE	2014-06	3,624	3,011	613
SYMANTEC CORPORATION	2013-01	PURCHASE	2014-06	5,808	5,816	-8
VALMONT INDUSTRIES INC	2012-05	PURCHASE	2014-09	10,901	8,963	1,938
VERIZON COMMUNICATIONS, INC.	2014-02	PURCHASE	2014-02	43	45	-2
VERIZON COMMUNICATIONS, INC.	2014-02	PURCHASE	2014-03	1,516	1,588	-72
VODAFONE GROUP PLC ADS	2011-03	PURCHASE	2014-02	15	19	-4
VODAFONE GROUP PLC ADS	2011-03	PURCHASE	2014-03	2,605	3,748	-1,143
W.W. GRAINGER INC.	2013-11	PURCHASE	2014-12	6,331	6,937	-606
WABTEC CORPORATION	2012-08	PURCHASE	2014-09	2,656	1,299	1,357
TELEFONICA S A SPON	2014-12	PURCHASE	2014-12	188		188

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

PATHFINDER FUND

EIN: 34-6536633

Name of Bond	End of Year Book Value	End of Year Fair Market Value
IBRD GREEN BOND	49,125
BANK AMER CORP	49,997
BAXTER INTL	25,051
20000 ORACLE CORP BOND
PARNASSUS FD
INTL BK RECON & DEV

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

PATHFINDER FUND

EIN: 34-6536633

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABB LTD 839 SHS
ABB LTD 494 SHS	11,732
ADOBE SYSTEMS 308 SHS	19,414
ADOBE SYSTEMS 165 SHS
ANNIES INC 157 SHS
APPLE INC 42 SHS
APPLE INC 470 SHS	12,086
APPLIED MATERIALS 414 SHS	6,828
APPLIED MATERIALS 605 SHS
ARM HOLDINGS 175 SHS	6,940
BANCO BRADESCO 1189 SHS
BANCO BRADESCO 803 SHS	10,305
BAXTER INTL 254 SHS	16,220
BAXTER INTL 195 SHS
CANADIAN PAC RAILWAY 63 SHS
CBRE GROUP 214 SHS
BORG WARNER 140 SHS	5,022
BRANDYWINE 398 SHS	6,250
BT GROUP 146 SHS	8,766
CBRE GROUP 357 SHS	7,992
CERNER CORP 290 SHS	15,616
CHURCH 53 SHS	4,074
CISCO SYSTEMS 589 SHS
CISCO SYSTEMS 707 SHS	12,396
CITRIX SYS 157 SHS	10,422
CREE INC 211 SHS	12,268
CUMMINS INC 75 SHS	9,731
DISCOVERY 320 SHS	10,945
DISCOVERY COMMUN 194 SHS
EATON CORP 199 SHS	13,816
EBAY 178 SHS	9,401
ENERNOC 395 SHS	7,295
FIRST SOLAR 260 SHS	13,082
FIRST SOLAR 154 SHS
FOREST CITY 281 SHS
FOREST CITY 540 SHS	10,701
FRESENIUS MED CARE
FS NETWORKS INC
GILEAD SCIENCES 204 SHS
GILEAD SCIENCES 260 SHS	20,971
GLAXOSMITHKLINE 278 SHS
GOOGLE 28 SHS	12,102
GOOGLE INC 17 SHS
GRAINGER 48 SHS
GREEN MTN COFFEE 123
HEXCEL COR 284 SHS	11,195
HOLOGIC 561SHS	11,285
HOME DEPOT 22 SHS	636
HSBC HLDS 143 SHS	5,913
INTERFACE 810 SHS	16,281
IBM 41 SHS
ITC HOLDINGS 129 SHS	3,670
ITC HOLDINGS 192 SHS
ITRON INC 138 SHS
JB HUNT 107 SHS	7,654
JOHNSON CTLS 356 SHS	13,946
KEURIG 63 SHS	3,722
LULULEMON ATHLETICA	12,983
MARATHON PETE CORP 91 SHS	3,240
MIDDLEBY CORP 126 SHS	9,095
MIDDLEBY CORP 67 SHS
MINERALS TECH INC 240 SHS	8,565
MINERALS TECH 125 SHS
NOKIA 1315 SHS	10,118
NOVARTIS A G 242 SHS	19,735
NOVARTIS A G 192 SHS
ORMAT TECH 279 SHS
ORMAT TECH 479 SHS	12,827
OWENS ILLINOIS 436 SHS
POWERSHARES EXCH 240 SHS
POWERSHARES 214 SHS	2,909
PANARA BREAD 75 SHS
PANERA BREAD 106 SHS	16,985
PENTAIR 169 SHS	8,631
PROLOGICS INC 343 SHS	13,283
QUALCOMM 107 SHS	5,586
ROCKWELL AUTO 86 SHS
ROGERS CORP 114 SHS	6,923
ROYAL BK 137 SHS
SALESFORCE 164 SHS	9,373
SOLARCITY 106 SHS
SOLARCITY 150 SHS	8,860
SONOCO 170 SHS	7,417
STARBUCKS CORP 158 SHS	9,106
STARWOOD HOTELS 178 SHS	13,992
STARWOOD HOTELS 89 SHS
SVB FINANCIAL 202 SHS	20,300
SVB FINANCIAL
SYMANTEC CORP 432 SHS
TELEFONICA S A 429	7,048
UMPQUA H 1235 SHS	22,217
UMPQUA HOLDINGS 640
UNILEVER 289 SHS	11,422
UNITED HEALTH GROUP 122 SHS	4,880
UNITED HEALTH GROUP 268 SHS
UNITED HAT FOODS 234 SHS	13,447
UNITED NAT FOODS 104 SHS
VALAMONT INDUSTRIES 79 SHS
VERISK 149 SHS	9,386
VODAFONE GROUP 129 SHS
VODAFONE GROUP 593 SHS
WW GRALI 22 SHS	5,870
WABTEC 180 SHS
WABTEC 148 SHS	5,990
WATERS COV 73 SHS	7,402
WESTPORT INNOVATION
WESTOIRT 579 SHS	11,650
WHOLE FOODS 430 SHS	15,230
WHOLE FOODS 277 SHS

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

PATHFINDER FUND

EIN: 34-6536633

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	5,920
ADR FEES	904

- TIN:

TY 2014 TaxesSchedule

Name:

PATHFINDER FUND

EIN: 34-6536633

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX PAID	476
TAX	158