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
577 FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)577 EAST FRONT STREET Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PERRYSBURG, OH43551

A Employer identification number

34-1591869

B Telephone number (see instructions)

(419) 872-0305

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

$2,441,494J 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)..............	583,448
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	3,207		3,207	3,207
5a	Gross rents..............	31,673		31,673	31,673
b	Net rental income or (loss) 31,673
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...
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).......		164,670		164,670
12	Total. Add lines 1 through 11........	782,998		34,880	199,550
13	Compensation of officers, directors, trustees, etc.	93,467				93,467
14	Other employee salaries and wages......	284,307				284,307
15	Pension plans, employee benefits.......	73,908				72,816
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		14,886			14,886
c	Other professional fees (attach schedule)....		7,221			7,221
17	Interest...............	4,706		4,706	4,706
18	Taxes (attach schedule) (see instructions)...		12,444	12,037	12,244	200
19	Depreciation (attach schedule) and depletion...		112,207	17,274	17,274
20	Occupancy..............	28,532			9,856	18,676
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		171,421	5,287	155,470	15,284
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	803,099		39,304	199,550	506,857
25	Contributions, gifts, grants paid........	14,911				14,911
26	Total expenses and disbursements. Add lines 24 and 25	818,010		39,304	199,550	521,768
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-35,012
b	Net investment income (if negative, enter -0-)			0
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...............	82,892	105,623	105,623
	2	Savings and temporary cash investments..........	49,026	51,364	51,364
	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)	27,475	28,002	28,002
	b	Investments—corporate stock (attach schedule)........	140,821	141,426	141,426
	c	Investments—corporate bonds (attach schedule)........
	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 3,964,247
		Less: accumulated depreciation (attach schedule) 1,849,343	2,206,633	2,114,904	2,114,904
	15	Other assets (describe )	106	175	175
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	2,506,953	2,441,494	2,441,494
	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)......	470,584	439,101
	22	Other liabilities (describe )	2,425	2,250
	23	Total liabilities (add lines 17 through 22)..........	473,009	441,351
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................	2,033,944	2,000,143
	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
	30	Total net assets or fund balances (see instructions)......	2,033,944	2,000,143
	31	Total liabilities and net assets/fund balances (see instructions)..	2,506,953	2,441,494

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	2,033,944
2	Enter amount from Part I, line 27a.....................	2	-35,012
3	Other increases not included in line 2 (itemize)	3	1,211
4	Add lines 1, 2, and 3..........................	4	2,000,143
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	2,000,143

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
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	494,011	2,508,666	0.196922
2012	1,040,907	841,335	1.237209
2011	544,169	381,510	1.426356
2010	524,242	279,394	1.876354
2009	546,877	270,787	2.019584

2	Total of line 1, column (d) ......................	2	6.756425
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	1.351285
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	779,694
5	Multiply line 4 by line 3.......................	5	1,053,589
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6
7	Add lines 5 and 6.........................	7	1,053,589
8	Enter qualifying distributions from Part XII, line 4..............	8	521,768
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	0
	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
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
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
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7
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
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

$ (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?................

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

Yes

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

HTTP://WWW.577FOUNDATION.ORG

The books are in care of bullet

MARY MENNEL Telephone no. bullet

(419) 872-0305

Located at bullet

557 E FRONT STREETPERRYSBURGOH ZIP+4 bullet

43551

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
CHARLES A STOCKING	V. PRESIDENT 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	V. PRESIDENT 1.00	0	0	0
CLINTON A MAUK	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
FRANCES PARRY	VICE PRESIDE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	VICE PRESIDE 1.00	0	0	0
DICK SIPP	PRESIDENT 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	PRESIDENT 1.00	0	0	0
MICHAEL MILLER	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
JULIE B HIGGINS	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
KITTY BETH MILLHON	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
MARTIN W NAGY	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
MARY L MENNEL	EXEC. DIR. 8.00	93,467	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	EXEC. DIR. 8.00	93,467	0	0
PAUL FENTON	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
PETER D GWYN	SECRETARY 1.00	0	0	0
C/O 577 E FRONT ST PERRYSBURG,OH43551	SECRETARY 1.00	0	0	0
WALTER KRUEGER	TRUSTEE 1.00	0	0	0
C/O 577 E FRONT S PERRYSBURG,OH43551	TRUSTEE 1.00	0	0	0
PAUL CROY	TREASURER 1.00	0	0	0
577 E FRONT ST PERRYSBURG,OH43551	TREASURER 1.00	0	0	0
MARRY STRANAHAN	TRUSTEE 1.00	0	0	0
577 E FRONT ST PERRYSBURG,OH43551	TRUSTEE 1.00	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	SCHEDULED EVENTS - 3,775 ADULTS AND 456 YOUTH & FAMILY PARTICIPATED	76,170
2	POTTERY CLASSES - 2,751 ADULTS AND 726 YOUTH AND FAMILY PARTICIPATED	10,916
3	TOURS - 559 ADULTS AND 1,353 YOUTH AND FAMILY PARTICIPATED	2,652
4	CLASSES OTHER THAN POTTERY -- 2,206 ADULTS AND 404 YOUTH AND FAMILY PARTICIPATED	479

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

168,862

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

50,195

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

572,511

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

791,568

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

791,568

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

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

11,874

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

779,694

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

38,985

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

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

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

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

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

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

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

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

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

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 ..........

521,768

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

521,768

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

521,768

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
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.......
e From 2013.......
fTotal of lines 3a through e.........
4Qualifying distributions for 2014 from Part
XII, line 4: $ 521,768
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.....
e Remaining amount distributed out of corpus		521,768
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		521,768
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 ..........
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 ......
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....
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
	0				0
b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....	521,768	494,011	1,040,907	544,169	2,600,855
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 ....	521,768	494,011	1,040,907	544,169	2,600,855
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...	25,990	83,622	28,045	12,717	150,374
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
READ FOR LITERACY 325 N MICHIGAN AVE TOLEDO,OH43624			CHARITY	6,481
Total ................................. 3a				6,481

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 ............
4 Dividends and interest from securities....			14	3,207
5 Net rental income or (loss) from real estate:
aDebt-financed property......			16	27,000
bNot debt-financed property.....			16	4,673
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aPROGRAM FEES			6	163,415
bMISC INCOME			6	1,255
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				199,550

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

13199,550

(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

577 FOUNDATION

Employer identification number

34-1591869

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 577 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	TCF SECOR FUND 608 MADSION AVE TOLEDO, OH43604	$524,140	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 577 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
577 FOUNDATION

Employer identification number

34-1591869

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:

577 FOUNDATION

EIN: 34-1591869

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES	14,886			14,886

- TIN:

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

TY 2014 DepreciationSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income
16 POTTERS STOOLS	2005-03-09	480	480	200DB	7.0000
1993 CLUB GO	1997-06-01	1,300	1,300	S/L	5.0000
2 ALUMINUM TABLE	2005-05-19	862	862	200DB	7.0000
2 POTTERY WHEELS	2005-03-09	1,540	1,540	200DB	7.0000
2009 GMC TRUCK	2011-04-25	13,473	7,186	S/L	5.0000	2,694
3 ENTRANCES	2000-08-23	1,304	1,304	S/L	7.0000
4 LED PARKING LOT POLES & LIGHTS	2009-12-16	5,385	1,436	S/L	15.0000	359
550 W - AMISH FURNITURE	2007-02-22	2,507	2,328	S/L	7.0000	179	179	179
550 W - IMPROVEMENTS	1996-10-01	72,427	39,638	S/L	31.5000	2,299	2,299	2,299
550 W - REMODEL	2003-07-01	14,717	4,985	S/L	31.0000	475	475	475
550 W - REMODEL BATH	2000-12-31	3,419	1,434	S/L	31.0000	110	110	110
550 W - VINYL SIDING	1998-06-01	13,167	6,287	S/L	31.5000	418	419	419
550 W-- LAND	1996-10-01	17,573
550 W. 2ND SEWER SEPARATION	2010-03-31	6,083	724	S/L	31.5000	193	193	193
550 W. SECOND ASPHALT DRIVEWAY	2011-10-12	3,266	233	S/L	31.5000	104	104	104
550 W. SECOND ROOF	2009-07-08	5,550	793	S/L	31.5000	176	176	176
6 OUTDOOR PVC HAND DRUMS	2005-02-09	1,225	1,225	200DB	7.0000
8 STACK ARM CHAIRS	2005-05-19	1,742	1,742	200DB	7.0000
AMISH 48" ROUND DAISY TABLES POLY(2)	2006-03-01	664	664	200DB	7.0000
AMISH ADIRONDACK DOUBLE GLIDERS(4)	2006-03-01	1,292	1,292	200DB	7.0000
AMISH GARDERN BENCHS POLY(2)	2006-03-01	394	394	200DB	7.0000
AMISH OUTDOOR POLY CHAIRS(8)	2006-03-01	1,000	1,000	200DB	7.0000
ARCHITECTUAL	1998-12-31	11,450	5,452	S/L	31.5000	364
ARM CHAIRS	2002-03-30	1,084	1,084	S/L	7.0000
BARN SHUTTER	2000-08-31	947	407	S/L	31.0000	31
BEQUEST OF M	1998-12-31	1,145,000	545,238	S/L	31.5000	36,349
BIODOME	1988-11-10	28,867	28,867	S/L	10.0000
BIODOME RENOVATION	2004-08-01	70,617	66,498	S/L	10.0000	4,119
BLUE PRINTS	2000-03-22	3,900	1,375	S/L	39.0000	100
BOOK CENTER FLOOR	2004-03-10	2,737	673	S/L	40.0000	68
BOOKSHELVES	1989-06-01	3,190	3,190	S/L	7.0000
BOX TURTLE DRUM	2005-02-09	2,008	2,008	200DB	7.0000
BUILDING IMP.	1997-12-01	3,900	1,986	S/L	31.5000	124
BUILDING IMP.	1999-12-01	23,387	11,168	S/L	31.5000	742
C.WM 48" ROUND DINING TABLE	2006-02-08	600	600	200DB	7.0000
C.WM 6' CHERRY DINING TABLE	2006-02-08	850	850	200DB	7.0000
C.WM CHERRY DINING TABLE	2006-03-08	1,000	1,000	200DB	7.0000
C.WM36" ROUND TABLE	2006-03-08	350	350	200DB	7.0000
CABIN SHUTTERS	2014-11-19	1,614		S/L	31.5000	4
CABIN WALLPAPER	2014-02-19	1,140		S/L	31.5000	30
CAMPAGNA CHAIR FOR COTTAGE	2005-11-29	319	319	200DB	7.0000
CARRUTH STONE HOSE BIB	2003-11-11	400	271	S/L	15.0000	27
CERAMIC DOME STRUCTURE	2012-08-22	12,137	1,618	S/L	10.0000	1,214
CHILDRENS' GARDEN WOOD, BOLTS & SCREWS	2010-04-14	342	289	200DB	7.0000	15
CLIMBATOMIK	2010-07-21	239	202	200DB	7.0000	11
COLUMN & GUTTERS	2014-09-24	1,820		S/L	31.5000	14	14	14
COMPUTERS	2001-03-14	16,593	16,593	S/L	5.0000
COMPUTERS	2002-12-31	3,339	3,339	S/L	5.0000
CONFERENCE ROOM	1994-09-01	87,289	53,458	S/L	31.5000	2,771
COPIER	2002-11-14	3,025	3,025	S/L	5.0000
COTTAGE AIR CONDITIONING	2004-06-18	4,678	1,111	S/L	40.0000	117
COTTAGE CHAIRS	2005-11-29	952	952	200DB	7.0000
COTTAGE CHAIRS	2005-11-29	1,450	1,450	200DB	7.0000
COTTAGE FUNITURE	2005-10-12	4,107	4,107	200DB	7.0000
COTTAGE FURNITURE	1996-06-01	3,232	3,232	S/L	7.0000
COTTAGE HOUSING-CARPET &FLOORING	2006-09-06	4,351	1,013	S/L	31.5000	138
COTTAGE KITCHEN FLOORING	2014-12-31	2,640		S/L	31.5000
COTTAGE PAINTING INTERIOR	2014-07-16	2,045		S/L	5.0000	170
COTTAGE PAINTING UPSTAIRS/CLOSETS/CUPBOARDS	2014-10-01	1,020		S/L	5.0000	51
COTTAGE REMODEL	1995-12-02	21,013	11,979	S/L	31.5000	667
COTTAGE REMODEL	1996-02-01	35,829	20,427	S/L	31.5000	1,138
COTTAGE SIDE CHAIRS (2)	2006-03-15	279	279	200DB	7.0000
COURTYARD	2007-07-25	45,245	9,336	S/L	31.5000	1,437
COURTYARD AGGREGATE REPAIR	2011-12-07	4,600	304	S/L	31.5000	146
CUSTOMIZED SOFTWARE	2003-01-22	1,300	1,300	S/L	5.0000
DECK	2003-06-04	5,600	3,951	S/L	15.0000	373
DELL LAPTOP	2005-12-07	773	773	200DB	5.0000
FAIRY HOUSE	2005-04-06	319	319	200DB	7.0000
FINAL PAYMENT	1989-06-01	59,200	59,200	S/L	10.0000
FLYING AMADINDA SMALL VERSION	2005-02-09	1,975	1,975	200DB	7.0000
FURNITURE	1992-06-01	3,525	3,525	S/L	7.0000
FURNITURE FOR E28T	2005-03-09	930	930	200DB	7.0000
GAME TABLE	2002-03-30	637	637	S/L	7.0000
GARDEN ENTRACES-VINTAGE GARDENS	2003-09-17	2,500	1,708	S/L	15.0000	167
HIGHLANDER END TABLE(2)	2006-03-15	698	698	200DB	7.0000
HOBBIT HUT	2003-09-23	8,874	6,064	S/L	15.0000	592
HOUSE	2012-06-05	243,148	12,222	S/L	31.5000	7,719	7,719	7,719
HOUSE EXTERIOR IMPROVMENTS	2009-08-05	12,380	1,402	S/L	39.0000	317
HOUSE FURNITURE	2000-10-30	47,659	47,659	S/L	7.0000
HOUSE FURNITURE	2001-06-27	3,900	3,900	S/L	7.0000
HOUSE INTERIOR IMPROVEMENTS	2011-10-05	3,400	196	S/L	39.0000	87
HOUSE INTERIOR IMPROVEMENTS	2009-12-09	6,043	633	S/L	39.0000	155
HOUSE INTERIOR IMPROVEMENTS	2008-11-18	16,209	2,658	S/L	31.0000	523
HOUSE LIGHTS	2001-06-27	1,517	1,517	S/L	7.0000
HOUSE RENOVATION	1999-06-01	210,575	78,291	S/L	39.0000	5,399
HOUSE RENOVATION	1999-06-01	686,023	255,793	S/L	39.0000	17,590
HOUSE--BLUE TAPESTRY SOFA	2003-07-14	3,000	3,000	S/L	10.0000
HOUSE-BLUE TAPESTRY TUB CHAIRS	2003-07-14	3,000	3,000	S/L	10.0000
HOUSE-COFFEE TABLE	2003-05-28	299	299	S/L	10.0000
HOUSE-PAVE, STAMP HOUSE DRIVE	2003-03-01	13,324	9,623	S/L	15.0000	888
HOUSE-SETTEE W. MATCHING CHAIRS	2003-04-22	1,500	1,500	S/L	10.0000
HOUSING IMPROVEMENTS	2000-03-01	46,307	16,425	S/L	39.0000	1,188
IMPROVEMENTS	1996-02-28	4,438	2,547	S/L	31.5000	141
IMPROVEMENTS	1998-12-31	6,500	3,095	S/L	31.5000	207
INFRASTRUCTURE	2003-07-02	544	544	S/L	10.0000
KILNS CART	2005-03-09	440	440	200DB	7.0000
KITCHEN COUNTERTOPS	2006-08-09	1,325	1,325	200DB	7.0000
LAND	2012-06-05	263,411
LANDSCAPE	1998-06-01	4,190	4,190	S/L	15.0000
LANDSCAPING	1989-08-01	27,549	27,549	S/L	15.0000
LANDSCAPING	1990-06-01	17,937	17,937	S/L	15.0000
LANDSCAPING	1991-06-01	13,102	13,102	S/L	15.0000
LANDSCAPING	1993-06-01	413	413	S/L	15.0000
LANDSCAPING	1996-07-30	5,086	5,086	S/L	15.0000
LANDSCAPING	1999-06-01	1,404	1,380	S/L	15.0000	24
LANDSCAPING	1997-06-30	7,661	7,661	S/L	15.0000
LIGHTS	1995-01-25	1,793	1,793	S/L	15.0000
LOG CABIN	1995-12-01	49,486	28,343	S/L	31.5000	1,571
LOG CABIN RENOVATION	2001-08-22	10,751	4,277	S/L	31.0000	347
LTL E28T KILNS	2005-03-16	5,450	5,450	200DB	7.0000
LTL VENTS	2005-03-09	580	580	200DB	7.0000
MANABIGAMA KILN PAVILION	2009-12-09	4,325	453	S/L	39.0000	111
MANABIGAMA WOOD KILN KIT	2009-11-25	5,754	3,357	S/L	7.0000	822
NATURAL PLAYGROUND	2010-03-29	435	367	200DB	7.0000	19
NORTH STAR WEAR CART	2005-03-09	490	490	200DB	7.0000
OFFICE FURNITURE	2002-10-31	3,479	3,479	S/L	7.0000
OFFICE-CARPET & FLOORING	2006-09-06	1,386	323	S/L	31.5000	44
OTHER	1996-04-10	776	443	S/L	31.5000	25
PAINT EXTERN	2000-07-30	12,142	12,142	S/L	5.0000
PAINTING CUPOLA	2008-06-25	1,655	1,655	S/L	5.0000
PAINTING HOUSE WINDOWS	2008-06-25	6,920	6,920	S/L	5.0000
PARKING LOT	1991-06-01	35,716	35,716	S/L	15.0000
PARKING LOT	1998-12-31	1,786	1,786	S/L	15.0000
PATHWAY & PLAY SURVACES	2003-11-14	2,279	1,547	S/L	15.0000	152
PAVE PARKING LOT	2011-11-02	24,072	3,477	S/L	15.0000	1,605
PICKET FENCE	2000-09-30	1,353	1,353	S/L	7.0000
PLANTING LABOR	2003-06-06	480	339	S/L	15.0000	32
PLANTING MATERIALS	2003-07-01	186	130	S/L	15.0000	12
PLAY TUNNEL	2003-12-17	5,494	3,663	S/L	15.0000	366
POTERY BARN	1993-03-01	5,333	3,519	S/L	31.5000	169
POTTERY BARN EXPANSION	2005-10-05	55,659	14,577	S/L	31.5000	1,767
POTTING SHED EXPANSION	2013-05-15	55,869	3,725	S/L	10.0000	5,586	5,586	5,586
PROGRAMMABLE	2000-03-31	799	799	S/L	7.0000
RAIN WHEEL	2005-02-09	345	345	200DB	7.0000
RAISED GARDEN BEDS-HARDWARE	2003-05-01	1,416	1,007	S/L	15.0000	94
REFINISH GRAY ROOM FLOOR	2006-07-12	1,650	393	S/L	31.5000	52
REFURBISH VOICE MAIL SYSTEM	2006-12-27	1,260	1,260	200DB	7.0000
REMODEL DAIR	2001-03-28	4,800	1,974	S/L	31.0000	155
REMODEL DAIRY	2000-07-30	858	372	S/L	31.0000	27
REMODELING	1989-12-01	16,056	12,257	S/L	31.5000	509
REMODELING	1992-12-01	42,731	28,546	S/L	31.5000	1,357
RENOVATION	1997-11-01	8,342	8,342	S/L	10.0000
REPAIR HOUSE	2001-10-24	4,043	1,587	S/L	31.0000	130
REWIRING	1990-06-01	6,834	6,834	S/L	10.0000
ROAD DRAINAGE/CONCRETE PAD/GRAVEL RD	2010-10-27	6,800	1,436	S/L	15.0000	453
SEAL PARKING LOTS-HOUSE & BARN	2014-10-01	3,420		S/L	15.0000	57
SEATING ARBOR & TEAHOUSE	2003-08-01	1,826	1,268	S/L	15.0000	122
SHEDS	1993-07-01	8,724	5,666	S/L	31.5000	277
SHUTTERS	2010-02-17	1,922	189	S/L	39.0000	49
SOIL-SAND LABOR	2003-06-09	840	593	S/L	15.0000	56
SOLAR EDUCATIONAL DISPLAYS	2008-12-10	9,578	1,571	S/L	31.0000	309
SOLAR MONITORING EQUIP	2009-01-21	2,437	386	S/L	31.0000	79
SOLAR WATER HEATING SYSTEM	2007-10-15	22,100	4,603	S/L	31.5000	701
STONE PAVING DRIVE	2002-06-28	2,629	2,016	S/L	15.0000	175
SURFACING	1994-06-01	6,001	6,001	S/L	15.0000
TEA HOUSE	2005-03-02	431	431	200DB	7.0000
TELEPHONE SYSTEM	1997-02-24	5,775	5,775	S/L	7.0000
TOPSOIL & BOULDERS	2003-11-01	320
TREEHOUSE	2003-06-04	1,689	1,192	S/L	15.0000	113
UPGRADE WATERLINES	2008-06-18	7,679	2,816	S/L	15.0000	512
UTILITY CART	2014-01-08	6,200		S/L	5.0000	1,240
VIENNA ROUND TABLE(2)	2006-03-15	298	298	200DB	7.0000
WALK & STEPS	1995-01-11	952	952	S/L	10.0000
WATER FEATURE	2003-09-23	6,483	4,430	S/L	15.0000	432
WEB SITE DEVELOPMENT	2004-05-14	660	660	S/L	3.0000
WIDEN CIRCLE DRIVE	2014-11-26	580		S/L	15.0000	3
WINDOW REPLACEMENT	1999-07-07	629	233	S/L	39.0000	17
WINDOWS/GATE	1991-07-01	8,540	6,088	S/L	31.5000	271
WOOD KILN	2010-06-30	6,409	575	S/L	39.0000	165

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CORPORATE BONDS AND BONDS FUND	141,426	141,426

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

577 FOUNDATION

EIN: 34-1591869

US Government Securities - End of Year Book Value:

28,002

US Government Securities - End of Year Fair Market Value:

28,002

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

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

- TIN:

TY 2014 LandEtcSchedule2

Name:

577 FOUNDATION

EIN: 34-1591869

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
BUILDING AND EQUIPMENT	3,682,943	1,849,343	1,833,600	1,833,600
PROJECT IN PROCESS
LAND	281,304		281,304	281,304

- TIN:

TY 2014 MortgagesAndNotesPayableSch

Name:

577 FOUNDATION

EIN: 34-1591869

Total Mortgage Amount:

Item No.	1
Lender's Name	NOTE - TOLEDO COMMUNITY FOUNDATION
Lender's Title
Relationship to Insider
Original Amount of Loan	501755
Balance Due	439101
Date of Note	2012-07
Maturity Date	2027-12
Repayment Terms	36,188 ANNUAL PAYMENT
Interest Rate	0.0100
Security Provided by Borrower	REAL ESTATE
Purpose of Loan	PURCHASE OF PROPERTY
Description of Lender Consideration
Consideration FMV

- TIN:

TY 2014 OtherAssetsSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
DEPOSIT	106	106	106
PAYROLL TAX OVERPAYMENT		69	69

- TIN:

TY 2014 OtherExpensesSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXPENSES
REPAIRS & MAINTENANCE	62,681	5,287	48,046	14,635
GARDEN SUPPLIES	6,079		6,079
INSURANCE	13,218		13,218
OFFICE SUPPLIES	2,557		2,557
TELEPHONE	3,656		3,656
TRUCK EXPENSE	1,256		607	649
PROMOTIONS	250		250
DUES & SUBSCRIPTIONS	398		398
MISCELLANEOUS	5,254		4,587
CLASS EXPENSE	61,259		61,259
POTTERY SUPPLIES	10,916		10,916
PRINTING	2,652		2,652
CLASS WAIVERS	100		100
EDUCATION/WORKSHOP	479		479
BANK CHARGES	666		666

- TIN:

TY 2014 OtherIncomeSchedule2

Name:

577 FOUNDATION

EIN: 34-1591869

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
PROGRAM FEES	163,415		163,415
MISC INCOME	1,255		1,255

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Description	Amount

- TIN:

TY 2014 OtherLiabilitiesSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Description	Beginning of Year - Book Value	End of Year - Book Value
DEPOSIT HELD	2,425	2,250

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PENSION ADMINISTRATION	7,221			7,221

- TIN:

TY 2014 TaxesSchedule

Name:

577 FOUNDATION

EIN: 34-1591869

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
REAL ESTATE TAX	12,244	12,037	12,244
STATE FILING	200			200