Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
The Kendeda Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside RdSuite 123Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

20-6881642
B Telephone number (see instructions)

(800) 839-1754
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$55,593,266J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule).............. 17,688,000
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 1,547 1,547  
4 Dividends and interest from securities...... 1,404,676 1,304,306  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 880,209
b Gross sales price for all assets on line 6a 61,606,065
7 Capital gain net income (from Part IV, line 2)... 26,358,666
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........ 19,974,432 27,664,519  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 255,040 255,040    
14 Other employee salaries and wages...... 84,000     84,000
15 Pension plans, employee benefits....... 6,426     6,426
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 394,435     394,435
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 629,909      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 96,274     96,274
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 90,593 70   90,523
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,556,677 255,110   671,658
25 Contributions, gifts, grants paid........ 33,166,764 33,166,764
26 Total expenses and disbursements. Add lines 24 and 25 34,723,441 255,110   33,838,422
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -14,749,009
b Net investment income (if negative, enter -0-) 27,409,409
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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 4,073,023 9,852,220 9,852,220
3 Accounts receivable bullet7,866
Less: allowance for doubtful accounts bullet     7,866 7,866
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 4,307,398 Click to see attachment2,180,957 2,078,911
b Investments—corporate stock (attach schedule)........ 53,062,519 Click to see attachment34,274,144 34,936,934
c Investments—corporate bonds (attach schedule)........ 8,636,349 Click to see attachment9,015,093 8,717,335
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 70,079,289 55,330,280 55,593,266
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 70,079,289 55,330,280
30 Total net assets or fund balances (see instructions)...... 70,079,289 55,330,280
31 Total liabilities and net assets/fund balances (see instructions).. 70,079,289 55,330,280
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 70,079,289
2 Enter amount from Part I, line 27a..................... 2 -14,749,009
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 55,330,280
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 55,330,280
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
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 61,606,065   35,247,399 26,358,666
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       26,358,666
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 26,358,666
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 27,927,511 67,261,107 0.41521
2012 29,619,805 41,776,860 0.709
2011 30,124,604 11,087,228 2.717055
2010 29,113,392 10,678,558 2.726341
2009 31,361,140 13,872,695 2.260638
2 Total of line 1, column (d) ...................... 2 8.828244
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 1.765649
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 61,075,588
5 Multiply line 4 by line 3....................... 5 107,838,051
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 274,094
7 Add lines 5 and 6......................... 7 108,112,145
8 Enter qualifying distributions from Part XII, line 4.............. 8 33,838,422
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 548,188
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 548,188
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- ..... 5 548,188
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 473,900
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 74,288
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 548,188
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
Yes
 
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletGA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754
    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    Atlantic Trust Company NA Trustee
    1.0     		255,040    
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
    DENA KIMBALL 0
    0     		84,000    
    994 CARMEL AVENUE NE
    ATLANTA,GA30307
    Total number of other employees paid over $50,000...................bullet  
    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
    Diane Ives Consulting Inc PHILANTHROPIC CONS. 264,000
    122 PARK AVE
    TAKOMA PARK,MD20912
    Foundation Source Administrative 89,500
    55 Walls Drive 3rd Floor
    Fairfield,CT06824
    McNamara Consulting Inc PHILANTHROPIC CONS. 57,025
    PO BOX 101
    BOZEMAN,MT59771
    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)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    55,276,410
    b
    Average of monthly cash balances.......................
    1b
    6,729,263
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    62,005,673
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    62,005,673
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    930,085
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    61,075,588
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,053,779
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,053,779
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    548,188
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    548,188
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,505,591
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    2,505,591
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,505,591
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    33,838,422
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    33,838,422
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    33,838,422
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 2,505,591
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:2012, 2011, 2010  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 31,361,140
    b From 2010....... 29,038,687
    c From 2011....... 30,124,604
    d From 2012....... 29,045,845
    e From 2013....... 25,326,965
    fTotal of lines 3a through e......... 144,897,241
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 33,838,422
    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..... 2,505,591
    e Remaining amount distributed out of corpus 31,332,831
    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 5 176,230,072
    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) ...     		31,361,140
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		144,868,932
    10 Analysis of line 9:
    a Excess from 2010.... 29,038,687
    b Excess from 2011.... 30,124,604
    c Excess from 2012.... 29,045,845
    d Excess from 2013.... 25,326,965
    e Excess from 2014.... 31,332,831
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    350ORG
    20 JAY ST STE 1010
    BROOKLYN,NY11201     		N/A PC General & Unrestricted 500,000
    AEON
    901 N 3RD ST STE 150
    MINNEAPOLIS,MN55401     		N/A PC the Rose Program 675,000
    ALASKA WILDERNESS LEAGUE
    122 C ST NW STE 240
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 30,000
    AMERICAN JEWISH WORLD SERVICE INC
    45 W 36TH ST 11TH FL
    NEW YORK,NY10018     		N/A PC AJWS Child Marriage Initiative 4,105,965
    AMERICAN RIVERS INC
    1100 14TH ST NW STE 1400
    WASHINGTON,DC20005     		N/A PC general operations and the Campaign for Montana's Headwaters 205,000
    ATLANTA BOTANICAL GARDEN INC
    1345 PIEDMONT AVE NE
    ATLANTA,GA30309     		N/A PC Conservation and Training Center Renovation and Expansion 3,000,000
    BLACKFOOT CHALLENGE INC
    PO BOX 103
    OVANDO,MT59854     		N/A PC Economic Workgroup and Education Partnerships 40,000
    BLESSED EARTH INC
    450 OLD VINE ST 3RD FL
    LEXINGTON,KY40507     		N/A PC General & Unrestricted 500,000
    CAPITAL INSTITUTE
    73 ARCH ST
    GREENWICH,CT06830     		N/A PC Field Guide Program 100,000
    CAPITAL INSTITUTE
    73 ARCH ST
    GREENWICH,CT06830     		N/A PC Year in the Life Program and Communications initiative 100,000
    CENTER FOR MAXIMUM POTENTIAL BUILDING SYSTEMS INC
    8604 FARM TO MARKET 969
    AUSTIN,TX78724     		N/A PC General & Unrestricted 50,000
    CHATTAHOOCHEE RIVERKEEPER INC
    916 JOSEPH LOWERY BLVD NW PURITAN
    ATLANTA,GA30318     		N/A PC Lake Lanier Aquatic Learning Center & Neighborhood Water Watch Project 40,000
    COOPERATIVE FOR ASSISTANCE AND RELIEF EVERYWHERE
    PO BOX 1871
    MERRIFIELD,VA22116     		N/A PC Tipping Point: Innovation and Advocacy in Addressing Underlying Causes of Child Marriage in Bangladesh, Nepal and the United States 2,118,000
    DEMOCRACY COLLABORATIVE FOUNDATION INC
    1422 EUCLID AVE STE 616
    CLEVELAND,OH44115     		N/A PC General & Unrestricted 300,000
    DETROITERS WORKING FOR ENVIRONMENTAL JUSTICE
    4750 WOODWARD AVE STE 417
    DETROIT,MI48201     		N/A PC General & Unrestricted 460,000
    EARTH ISLAND INSTITUTE INC
    2150 ALLSTON WAY STE 460
    BERKELEY,CA94704     		N/A PC Energy Action Coalition Project 400,000
    ECO-LOGIC DEVELOPMENT FUND
    25 MOUNT AUBURN ST STE 203
    CAMBRIDGE,MA02138     		N/A PC general operations, matching grants for the staff retreat, and coaching for the Open Standards for the Practice of Conservation 375,000
    ECOLOGY CENTER
    2530 SAN PABLO AVE
    BERKELEY,CA94710     		N/A PC Environmental Literacy Project: Roots of Success 63,800
    EMERALD CITIES COLLABORATIVE INC
    1140 CONNECTICUT AVE NW STE 1210
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 500,000
    ENERGY ACTION COALITION
    205 NEW YORK AVE NW
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 300,000
    ENTERPRISE COMMUNITY PARTNERS INC
    70 CORPORATE CENTER 11000 BROKEN L
    COLUMBIA,MD21044     		N/A PC Enterprise Rose Architectural Fellowship Program 625,000
    ENTERPRISE COMMUNITY PARTNERS INC
    70 CORPORATE CENTER 11000 BROKEN L
    COLUMBIA,MD21044     		N/A PC Green Communities Initiative 625,000
    ENTERPRISE COMMUNITY PARTNERS INC
    70 CORPORATE CENTER 11000 BROKEN L
    COLUMBIA,MD21044     		N/A PC National Design Initiative 820,045
    EVERGREEN COOPERATIVE CORPORATION
    540 E 105TH ST
    CLEVELAND,OH44108     		N/A PC Evergreen Training and Leadership Development Program 100,000
    FORWARD MT FOUNDATION
    500 N HIGGINS AVE STE 103
    MISSOULA,MT59802     		N/A PC general support and capacity building 25,000
    FUND FOR GLOBAL HUMAN RIGHTS
    1666 CONNECTICUT AVE NW STE 4
    WASHINGTON,DC20009     		N/A PC Environmental Justice Initiative 50,000
    FUNDERS NTWRK FOR SMART GRWTH&LIVABLE COMMUNITIES
    1500 SAN REMO AVE
    CORAL GABLES,FL33146     		N/A PC General & Unrestricted 50,000
    FUNDERS NTWRK FOR SMART GRWTH&LIVABLE COMMUNITIES
    1500 SAN REMO AVE
    CORAL GABLES,FL33146     		N/A PC Partners for Places Program 200,000
    FUTURE WEST
    PO BOX 1253
    BOZEMAN,MT59771     		N/A PC General & Unrestricted 25,000
    FUTURE WEST
    PO BOX 1253
    BOZEMAN,MT59771     		N/A PC Capacity Building Program in the High Divide and Southern Crown 60,000
    GALLATIN VALLEY LAND TRUST
    PO BOX 7021
    BOZEMAN,MT59771     		N/A PC Building Capacity and Sustainability for GVLT 150,000
    GARRISON INSTITUTE
    PO BOX 532
    GARRISON,NY10524     		N/A PC General & Unrestricted 30,000
    GEORGIA INTERFAITH POWER AND LIGHT
    PO BOX 286
    DECATUR,GA30031     		N/A PC general operations, Power Wise, and Regional IP & L Policy meeting 102,067
    GEORGIA INTERFAITH POWER AND LIGHT
    PO BOX 286
    DECATUR,GA30031     		N/A PC One Region Power Wise Initiative 60,000
    GIRLS NOT BRIDES THE GLOBAL PARTNERSHIP
    50 BROOK GREEN BLDG 5 1ST FL
    LONDON   W6 7B
    UK     		N/A PC Girls Not Brides: The Global Partnership to End Child Marriage Initiative 250,000
    GLOBAL ALLIANCE FOR INCINERATOR ALTERNATIVES
    1958 UNIVERSITY AVE
    BERKELEY,CA94704     		N/A PC General & Unrestricted 50,000
    GLOBAL FUND FOR WOMEN INC
    222 SUTTER ST STE 500
    SAN FRANCISCO,CA94108     		N/A PC Strengthening Women's Rights Organizations to End Child Marriage 130,000
    GLOBAL GREENGRANTS FUND INC
    2840 WILDERNESS PL
    BOULDER,CO80301     		N/A PC general support, Climate Program, and to establish an operating reserve 220,000
    GLOBAL PHILANTHROPY PARTNERSHIP
    2440 N LAKEVIEW 15A
    CHICAGO,IL60614     		N/A PC Urban Sustainability Directors Network 100,000
    GREATER YELLOWSTONE COALITION INC
    215 S WALLACE AVE
    BOZEMAN,MT59715     		N/A PC General & Unrestricted 10,000
    GREENFAITH
    101 S 3RD ST
    HIGHLAND PARK,NJ08904     		N/A PC Green Faith Fellows Program 100,000
    GRIST MAGAZINE INC
    710 2ND AVE STE 860
    SEATTLE,WA98104     		N/A PC General & Unrestricted 750,000
    GRIST MAGAZINE INC
    710 2ND AVE STE 860
    SEATTLE,WA98104     		N/A PC Revenue Generating Innovation Project 220,000
    GRIST MAGAZINE INC
    710 2ND AVE STE 860
    SEATTLE,WA98104     		N/A PC GENERAL OPERATING SUPPORT, GRIST EXPANDS, AND CHALLENGE GRANTS FOR FRIENDS WITH BENEFITS, AND BEACON IN THE SMOG 97,548
    GROUNDSWELL INC
    1156 15TH ST NW STE 840
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 400,000
    GROUNDSWELL INC
    1156 15TH ST NW STE 840
    WASHINGTON,DC20005     		N/A PC Civic Consumption Network 50,000
    HEADWATERS ECONOMICS INC
    PO BOX 7059
    BOZEMAN,MT59771     		N/A PC general support and project support for a non-conservation research/policy issue of the organization's choice 75,000
    HEART OF THE ROCKIES INITIATIVE
    1790 E 2000 S
    DRIGGS,ID83422     		N/A PC High Divide Conservation Collaborative Program 25,000
    HIGH COUNTRY NEWS
    PO BOX 1090
    PAONIA,CO81428     		N/A PC General & Unrestricted 40,000
    HITCHCOCK CENTER INC
    525 S PLEASANT ST
    AMHERST,MA01002     		N/A PC General & Unrestricted 25,000
    HITCHCOCK CENTER INC
    525 S PLEASANT ST
    AMHERST,MA01002     		N/A PC Building Campaign 1,000,000
    HUMAN RESOURCE DEVELOPMENT COUNCIL OF DISTRICT IX
    32 S TRACY AVE
    BOZEMAN,MT59715     		N/A PC Story Mill Housing Project 31,100
    HUMAN RIGHTS WATCH
    100 BUSH ST STE 925
    SAN FRANCISCO,CA94104     		N/A PC Ending Child Marriage in South Asia 250,000
    INTERNATIONAL DOCUMENTARY ASSOCIATION
    3470 WILSHIRE BLVD STE 980
    LOS ANGELES,CA90010     		N/A PC Get in the Way: The Journey of John Lewis 7,000
    INTERNATIONAL LIVING FUTURE INSTITUTE
    721 NW 9TH AVE STE 195
    PORTLAND,OR97209     		N/A PC General & Unrestricted 600,000
    INTERNATIONAL WOMENS HEALTH COALITION
    333 7TH AVE
    NEW YORK,NY10001     		N/A PC Strengthening Leadership and Capacity to Promote and Protect the Sexual and Reproductive Rights and Health of Adolescent Girls 591,000
    INTERNEWS NETWORK
    876 7TH ST
    ARCATA,CA95521     		N/A PC Earth Journalism Network's Berkeley Scholars Program 100,000
    MANUFACTURING RENAISSANCE
    3411 W DIVERSEY AVE STE 10
    CHICAGO,IL60647     		N/A PC General & Unrestricted 500,000
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVE
    CAMBRIDGE,MA02139     		N/A PC Professor Phil Thompson's Book Project 50,000
    MASSACHUSETTS INSTITUTE OF TECHNOLOGY
    77 MASSACHUSETTS AVE
    CAMBRIDGE,MA02139     		N/A PC Community Innovators Lab 400,000
    MINNESOTA PUBLIC RADIO
    480 CEDAR ST
    SAINT PAUL,MN55101     		N/A PC Marketplace Sustainability Program 755,730
    MONTANA AUDUBON
    PO BOX 595
    HELENA,MT59624     		N/A PC Audubon Conservation Education Center 10,000
    MONTANA CONSERVATION VOTERS EDUCATION FUND
    PO BOX 853
    BILLINGS,MT59103     		N/A PC General & Unrestricted 25,000
    MONTANA NATURAL HISTORY CENTER INC
    120 HICKORY ST
    MISSOULA,MT59801     		N/A PC Visiting Naturalists in the Schools Program 40,000
    MONTANA OUTDOOR SCIENCE SCHOOL
    PO BOX 502
    BOZEMAN,MT59771     		N/A PC General & Unrestricted 30,000
    MONTANA WILDERNESS ASSOCIATION INC
    80 S WARREN ST
    HELENA,MT59601     		N/A PC Veterans Outreach Program 20,000
    MONTANA WILDERNESS ASSOCIATION INC
    80 S WARREN ST
    HELENA,MT59601     		N/A PC Northwest Montana Community Project 50,000
    MURIE CENTER
    PO BOX 399
    MOOSE,WY83012     		N/A PC General & Unrestricted 10,000
    NATIONAL CENTER FOR CIVIL AND HUMAN RIGHTS INC
    250 WILLIAMS ST NW
    ATLANTA,GA30303     		N/A PC Human Rights Now for Girls Project 83,333
    NATIONAL FOREST FOUNDATION
    BLDG 27 STE 3 FORT MISSOULA RD
    MISSOULA,MT59804     		N/A PC Collaboration and National Forest Management in the Interior Mountain West Workshop 5,000
    NATIONAL PARKS CONSERVATION ASSOCIATION
    777 6TH ST NW STE 700
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 665,017
    NATIONAL PUBLIC RADIO INC
    1111 N CAPITOL ST NE
    WASHINGTON,DC20002     		N/A PC NPR Environmental Proposal Project 250,000
    NATIONAL RELIGIOUS PARTNERSHIP FOR THE ENVIRONMENT
    110 MARYLAND AVE NE
    WASHINGTON,DC20002     		N/A PC Charitable Event 75,000
    NATIONAL WILDLIFE FEDERATION
    11100 WILDLIFE CENTER DR
    RESTON,VA20190     		N/A PC General & Unrestricted 5,000
    NATIONAL WILDLIFE FEDERATION
    11100 WILDLIFE CENTER DR
    RESTON,VA20190     		N/A PC Campus Ecology Program 400,000
    NATIONAL WILDLIFE FEDERATION
    11100 WILDLIFE CENTER DR
    RESTON,VA20190     		N/A PC Northern Rockies Program 25,000
    NATIONAL WILDLIFE FEDERATION
    11100 WILDLIFE CENTER DR
    RESTON,VA20190     		N/A PC Atlanta Earth Tomorrow Project 50,000
    NATURE BRIDGE
    28 GEARY ST STE 650
    SAN FRANCISCO,CA94108     		N/A PC Centennial National Park Education Initiative 100,000
    NATURE CONSERVANCY
    4245 N FAIRFAX DR STE 100
    ARLINGTON,VA22203     		N/A PC Montana Legacy Project 50,000
    NEW VENTURE FUND
    1201 CONNECTICUT AVE NW STE 3
    WASHINGTON,DC20036     		N/A PC Fund for a Safer Future 250,000
    NORTHERN PLAINS RESOURCE COUNCIL
    220 S 27TH ST STE A
    BILLINGS,MT59101     		N/A PC Derail Coal Program 65,000
    ORION SOCIETY
    187 MAIN ST
    GREAT BARRINGTON,MA01230     		N/A PC General & Unrestricted 300,000
    OWL RESEARCH INSTITUTE INC
    PO BOX 39
    CHARLO,MT59824     		N/A PC General & Unrestricted 5,000
    PARK COUNTY COMMUNITY FOUNDATION
    PO BOX 2199
    LIVINGSTON,MT59047     		N/A PC Gallatin Community Collaborative Program 7,000
    PARK COUNTY COMMUNITY FOUNDATION
    PO BOX 2199
    LIVINGSTON,MT59047     		N/A PC Gallatin Community Collaborative Program 15,000
    PROJECT H DESIGN
    33 CYPRESS AVE
    KENTFIELD,CA94904     		N/A PC Studio E: Creative Educators Institute 160,000
    PULITZER CENTER ON CRISIS REPORTING
    1779 MASSACHUSETTS AVE
    WASHINGTON,DC20036     		N/A PC general operating support, reserve fund challenge grant, and a new donor challenge grant 841,500
    RAINFOREST ALLIANCE INC
    233 BROADWAY 28TH FL
    NEW YORK,NY10279     		N/A PC Leapfrog Campaign 163,521
    RES PUBLICA US INC
    857 BROADWAY FL 3
    NEW YORK,NY10003     		N/A PC Charitable Event 250,000
    ROOM TO READ
    111 SUTTER ST 16TH FL
    SAN FRANCISCO,CA94104     		N/A PC Girls' Education Program & Research, Evaluation and Monitoring 209,138
    ROOT CAPITAL INC
    955 MASSACHUSETTS AVE 5TH FLOO
    CAMBRIDGE,MA02139     		N/A PC Women in Agriculture Initiative 375,000
    SOUTHERN ALLIANCE FOR CLEAN ENERGY
    PO BOX 1842
    KNOXVILLE,TN37901     		N/A PC General & Unrestricted 50,000
    SOUTHFACE ENERGY INSTITUTE INC
    241 PINE ST NE
    ATLANTA,GA30308     		N/A PC General & Unrestricted 1,000,000
    STUDENT CONSERVATION ASSOCIATION INC
    4245 N FAIRFIELD DR STE 825
    ARLINGTON,VA22203     		N/A PC General & Unrestricted 720,000
    SUSTAINABLE NORTHWEST
    813 SW ALDER ST STE 500
    PORTLAND,OR97205     		N/A PC general operations and challenge grant for reserve and innovation fund 150,000
    THE BIOMIMICRY INSTITUTE
    PO BOX 9216
    MISSOULA,MT59807     		N/A PC General & Unrestricted 400,000
    THE BIOMIMICRY INSTITUTE
    PO BOX 9216
    MISSOULA,MT59807     		N/A PC Global Network Planning Project 150,000
    THE CARTER CENTER INC
    453 FREEDOM PKWY NE
    ATLANTA,GA30307     		N/A PC Mobilizing Faith for Women and Girls Campaign 250,000
    THE NAT'L ENVIRONMENTAL EDUCATION & TRAINING FDN
    4301 CONNECTICUT AVE NW STE 160
    WASHINGTON,DC20008     		N/A PC General & Unrestricted 400,000
    THE REGENERATION PROJECT
    369 PINE ST STE 700
    SAN FRANCISCO,CA94104     		N/A PC Interfaith Power & Light Campaign 75,000
    TRINITY UNIVERSITY
    ONE TRINITY PL BUSINESS OFC
    SAN ANTONIO,TX78212     		N/A PC Putting on the Dog Book Project 50,000
    UNIVERSITY OF UTAH - SJ QUINNEY COLLEGE OF LAW
    332 S 1400 E
    SALT LAKE CITY,UT84112     		N/A PC Stegner Center Lands Project at the SJ Quinney College of Law 25,000
    US GREEN BUILDING COUNCIL-GEORGIA CHAPTER INC
    1000 WHITLOCK AVE STE 320 218
    MARIETTA,GA30064     		N/A PC High Performance Healthy Schools Program 25,000
    WESTERN ORG OF RESOURCE COUNCILS EDUCATION PROJECT
    220 S 27TH ST STE B
    BILLINGS,MT59101     		N/A SO I Western Native Voice Project 50,000
    WGBH EDUCATIONAL FOUNDATION
    PO BOX 55875
    BOSTON,MA02205     		N/A PC Green Media Discretionary Fund 1,500,000
    WILDERNESS SOCIETY
    1615 M ST NW LBBY 2
    WASHINGTON,DC20036     		N/A PC Montana Conservation Program 75,000
    WILDLIFE CONSERVATION SOCIETY
    2300 SOUTHERN BLVD
    BRONX,NY10460     		N/A PC Glacier-Waterton Program 25,000
    WILDLIFE CONSERVATION SOCIETY
    2300 SOUTHERN BLVD
    BRONX,NY10460     		N/A PC IInnii Initiative 5,000
    WOMEN MAKE MOVIES INC
    115 W 29TH ST STE 1200
    NEW YORK,NY10001     		N/A PC Cambodia UP-Rising Film Project 30,000
    YELLOWSTONE PARK FOUNDATION INC
    222 E MAIN ST STE 301
    BOZEMAN,MT59715     		N/A PC Park Journeys Program 40,000
    Total .................................bullet 3a 33,166,764
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 1,547  
    4 Dividends and interest from securities....     14 1,404,676  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 880,209  
    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)..   2,286,432  
    13Total. Add line 12, columns (b), (d), and (e)..................
    132,286,432
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet 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
    The Kendeda Fund
     
    Employer identification number

    20-6881642
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    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
    Special Rules
    ......... 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
    The Kendeda Fund
          		Employer identification number

    20-6881642
    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
     
     

    The March 23 2006 Trust  
    ATLANTIC TR CO 1170 PEACHTREE ST NE
     
    Atlanta, GA30309

    		$17,688,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (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
    The Kendeda Fund
          		Employer identification number

    20-6881642
    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
    		 HOME DEPOT INC. HD, 50000 sh. $ 5,195,000 2014-12-26
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 HOME DEPOT INC. HD, 50000 sh. $ 4,389,000 2014-08-19
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 HOME DEPOT INC. HD, 100000 sh. $ 8,104,000 2014-07-08
    (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
    The Kendeda Fund
          		Employer identification number

    20-6881642
    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 (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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:  

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

    TY 2014 DepreciationSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    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 Cost of Goods Sold Not Included

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC GLBL NT - 3.000% - 02 498,673 490,590
    BERKSHIRE HATHAWAY FIN CORP - 567,512 559,460
    BLACKROCK INC - 5.000% - 12/10 282,910 282,645
    CATERPILLAR FINL - 5.45% - 04/ 282,900 278,947
    COMCAST CORP BOND - 2.85% - 01 296,556 298,925
    COSTCO CORP - 1.125% - 12/15/2 250,388 248,487
    EI DU PONT DE NEMOUR - 4.75% - 1,074,674 1,008,264
    EI DUPONT DE NEMOURS - 5.25% - 548,235 540,725
    GOLDMAN SACHS GRP INC - 5.125% 1,079,383 1,001,280
    INTEL CORP NOTE - 3.300% - 10/ 336,293 340,805
    MORGAN STANLEY SR NT-F - 4.750 269,970 266,298
    ORACLE CORP SR NT - 2.250% - 1 501,891 502,670
    PEPSICO INC - 5.000%% - 06/01/ 281,635 275,494
    PEPSICO INC NOTES - 4.500% - 0 277,483 275,395
    PFIZER INC - 5.350% - 03/15/20 1,085,434 1,009,059
    PRAXAIR INC - 4.625% - 03/30/2 538,990 505,113
    UNITED TECHNOLOGIES CORP - 4.5 278,553 277,023
    WELLS FARGO - 5.625% - 12/11/2 563,613 556,155

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AT INCOME OPPORTUNITIES FUND I 9,026,306 9,090,932
    EPOCH GLOBAL EQUITY SHAREHOLDE 11,011,985 11,938,618
    RIDGEWORTH FDS SEIX FLOATING R 14,235,853 13,907,384

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    US Government Securities - End of Year Book Value:

     
    US Government Securities - End of Year Fair Market Value:

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


    2,180,957
    State & Local Government Securities - End of Year Fair Market Value:


    2,078,911


    TY 2014 OtherExpensesSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 89,500     89,500
    Bank Charges 70 70    
    Payroll Processing Fees 1,003     1,003
    Postage/Delivery Service 20     20


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PHILANTHROPIC CONSULTING SRVCS 394,435     394,435


    TY 2014 TaxesSchedule
    Name:
    The Kendeda Fund
    EIN: 20-6881642
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2014 473,900      
    990-PF Excise Tax for 2013 156,009