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
TORTUGA FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)C/O SACKS PRESS 600 THIRD AVENUE Room/suite

City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10016

A Employer identification number

51-0245279

B Telephone number (see instructions)

(212) 682-6640

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

$47,606,804J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

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


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	435,764		435,764
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		4,541,082
b	Gross sales price for all assets on line 6a 12,126,583
7	Capital gain net income (from Part IV, line 2)...			4,541,082
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........	4,976,846		4,976,846
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		3,000	3,000	0
c	Other professional fees (attach schedule)....		392,566	392,566	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		153,066	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		2,098	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	550,730		395,566	0
25	Contributions, gifts, grants paid........	1,735,000			1,735,000
26	Total expenses and disbursements. Add lines 24 and 25	2,285,730		395,566	1,735,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	2,691,116
b	Net investment income (if negative, enter -0-)			4,581,280
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...............
	2	Savings and temporary cash investments..........	518,708	578,093	578,093
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	26,921,976	29,553,707	47,028,711
	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
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	27,440,684	30,131,800	47,606,804
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	27,440,684	30,131,800
	30	Total net assets or fund balances (see instructions)......	27,440,684	30,131,800
	31	Total liabilities and net assets/fund balances (see instructions)..	27,440,684	30,131,800

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	27,440,684
2	Enter amount from Part I, line 27a.....................	2	2,691,116
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	30,131,800
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	30,131,800

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	PRECISION CAST PARTS -160 SHS	P	2014-07-10	2014-10-21
b	PRECISION CAST PARTS -53 SHS	P	2014-07-11	2014-10-21
c	PRECISION CAST PARTS -105 SHS	P	2014-07-16	2014-10-21
d	PRECISION CAST PARTS -302 SHS	P	2014-07-17	2014-10-21
e	PRECISION CAST PARTS -8 SHS	P	2014-08-20	2014-10-21
	ALLERGAN INC -656 SHS	P	2014-02-12	2015-01-08
	ALLERGAN INC -164 SHS	P	2014-02-12	2015-01-08
	ALLERGAN INC -508 SHS	P	2014-02-13	2015-01-08
	ALLERGAN INC -518 SHS	P	2014-02-13	2015-01-08
	STRATASYS LTD -503 SHS	P	2014-10-30	2015-05-07
	STRATASYS LTD -630 SHS	P	2014-10-31	2015-05-07
	STRATASYS LTD -134 SHS	P	2014-11-03	2015-05-07
	STRATASYS LTD -95 SHS	P	2014-11-04	2015-05-07
	STRATASYS LTD -3555 SHS	P	2014-11-05	2015-05-07
	STRATASYS LTD -501 SHS	P	2014-12-09	2015-05-07
	STRATASYS LTD -2044 SHS	P	2014-12-10	2015-05-07
	STRATASYS LTD -565 SHS	P	2015-02-25	2015-05-07
	STRATASYS LTD -653 SHS	P	2015-02-26	2015-05-07
	STRATASYS LTD -520 SHS	P	2015-02-27	2015-05-07
	STRATASYS LTD -840 SHS	P	2015-03-02	2015-05-07
	PRECISION CAST PARTS -367 SHS	P	2013-09-17	2014-10-16
	PRECISION CAST PARTS -167 SHS	P	2013-10-10	2014-10-16
	PRECISION CAST PARTS -278 SHS	P	2013-10-11	2014-10-16
	PRECISION CAST PARTS -273 SHS	P	2013-10-14	2014-10-16
	PRECISION CAST PARTS -506 SHS	P	2013-10-15	2014-10-16
	PRECISION CAST PARTS -129 SHS	P	2013-09-16	2014-10-17
	PRECISION CAST PARTS -104 SHS	P	2013-09-17	2014-10-17
	PRECISION CAST PARTS -456 SHS	P	2013-09-18	2014-10-17
	PRECISION CAST PARTS -491 SHS	P	2013-09-19	2014-10-17
	PRECISION CAST PARTS -267 SHS	P	2013-09-20	2014-10-17
	PRECISION CAST PARTS -299 SHS	P	2013-09-12	2014-10-20
	PRECISION CAST PARTS -318 SHS	P	2013-09-13	2014-10-20
	PRECISION CAST PARTS -73 SHS	P	2013-09-16	2014-10-20
	PRECISION CAST PARTS -135 SHS	P	2013-09-11	2014-10-21
	PRECISION CAST PARTS -207 SHS	P	2013-09-12	2014-10-21
	CELGENE CORP -395 SHS	P	2009-10-15	2014-10-24
	CELGENE CORP -1742 SHS	P	2009-10-16	2014-10-24
	CELGENE CORP -1083 SHS	P	2009-10-15	2014-10-30
	CELGENE CORP -190 SHS	P	2009-10-20	2014-10-30
	CELGENE CORP -241 SHS	P	2009-10-20	2014-10-31
	CELGENE CORP -361 SHS	P	2009-10-20	2014-12-09
	CELGENE CORP -205 SHS	P	2008-01-29	2014-12-10
	CELGENE CORP -1402 SHS	P	2009-10-20	2014-12-10
	EQUINIX INC -0.6496 SHS	P	2013-02-27	2014-12-16
	ALLERGAN INC -1160 SHS	P	2013-06-17	2014-12-19
	ALLERGAN INC -932 SHS	P	2013-06-18	2014-12-19
	ALLERGAN INC -66 SHS	P	2013-06-14	2014-12-22
	ALLERGAN INC -1033 SHS	P	2013-06-18	2014-12-22
	ALLERGAN INC -526 SHS	P	2013-06-13	2014-12-23
	ALLERGAN INC -417 SHS	P	2013-06-14	2014-12-23
	ALLERGAN INC -212 SHS	P	2013-06-13	2015-01-06
	ALLERGAN INC -428 SHS	P	2013-06-19	2015-01-06
	ALLERGAN INC -261 SHS	P	2008-10-30	2015-01-07
	ALLERGAN INC -1559 SHS	P	2008-10-30	2015-01-07
	ALLERGAN INC -552 SHS	P	2008-11-03	2015-01-07
	ALLERGAN INC -17 SHS	P	2009-05-29	2015-01-07
	ALLERGAN INC -1735 SHS	P	2013-06-19	2015-01-07
	ALLERGAN INC -285 SHS	P	2008-10-30	2015-01-08
	APPLE INC -1282 SHS	P	2012-11-19	2015-02-25
	APPLE INC -3288 SHS	P	2012-11-19	2015-02-25
	FMC TECH. INC -1449 SHS	P	2013-02-19	2015-02-25
	FMC TECH. INC -1183 SHS	P	2013-02-20	2015-02-25
	FMC TECH. INC -243 SHS	P	2013-02-25	2015-02-25
	FMC TECH. INC -2517 SHS	P	2013-04-24	2015-02-25
	FMC TECH. INC -1054 SHS	P	2013-02-14	2015-02-26
	FMC TECH. INC -1542 SHS	P	2013-02-15	2015-02-26
	FMC TECH. INC -994 SHS	P	2013-02-20	2015-02-26
	FMC TECH. INC -1353 SHS	P	2013-02-22	2015-02-26
	FMC TECH. INC -829 SHS	P	2013-11-05	2015-02-27
	FMC TECH. INC -232 SHS	P	2013-11-06	2015-02-27
	FMC TECH. INC -1635 SHS	P	2013-11-07	2015-02-27
	FMC TECH. INC -911 SHS	P	2013-02-14	2015-02-27
	FMC TECH. INC -968 SHS	P	2013-02-21	2015-02-27
	FMC TECH. INC -1120 SHS	P	2013-02-21	2015-02-27
	FMC TECH. INC -1168 SHS	P	2013-04-22	2015-02-27
	FMC TECH. INC -2202 SHS	P	2013-04-23	2015-02-27
	FMC TECH. INC -816 SHS	P	2013-11-06	2015-02-27
	APPLE INC -2014 SHS	P	2012-05-17	2015-03-11
	APPLE INC -344 SHS	P	2012-11-19	2015-03-11
	APPLE INC -1032 SHS	P	2012-05-17	2015-03-12
	COGNIZANT TECH. SOLUTIONS CORP -2020 SHS	P	2013-08-26	2015-03-30
	COGNIZANT TECH. SOLUTIONS CORP -817 SHS	P	2013-08-26	2015-03-31
	COGNIZANT TECH. SOLUTIONS CORP -1060 SHS	P	2013-08-26	2015-04-01
	STRATASYS LTD -735 SHS	P	2013-10-10	2015-05-07
	STRATASYS LTD -1014 SHS	P	2013-10-11	2015-05-07
	STRATASYS LTD -710 SHS	P	2013-10-14	2015-05-07
	STRATASYS LTD -1115 SHS	P	2013-10-15	2015-05-07
	STRATASYS LTD -1098 SHS	P	2013-10-16	2015-05-07
	STRATASYS LTD -1186 SHS	P	2013-10-17	2015-05-07
	STRATASYS LTD -788 SHS	P	2013-10-18	2015-05-07
	STRATASYS LTD -704 SHS	P	2013-10-30	2015-05-07
	STRATASYS LTD -355 SHS	P	2013-10-31	2015-05-07
	STRATASYS LTD -243 SHS	P	2013-11-01	2015-05-07
	STRATASYS LTD -346 SHS	P	2014-01-22	2015-05-07
	STRATASYS LTD -576 SHS	P	2014-01-23	2015-05-07
	STRATASYS LTD -547 SHS	P	2014-01-24	2015-05-07
	STRATASYS LTD -1293 SHS	P	2014-05-02	2015-05-07
	STRATASYS LTD -491 SHS	P	2014-05-05	2015-05-07
	T ROWE PRICE GROUP INC -111 SHS	P	2013-11-08	2015-05-18
	GOOGLE INC -0.7803 SHS	P	2013-08-13	2015-05-22
	T ROWE PRICE GROUP INC -613 SHS	P	2013-11-06	2015-05-19
	T ROWE PRICE GROUP INC -165 SHS	P	2013-11-07	2015-05-19
	T ROWE PRICE GROUP INC -207 SHS	P	2013-11-08	2015-05-19
	T ROWE PRICE GROUP INC -242 SHS	P	2013-11-05	2015-05-20
	T ROWE PRICE GROUP INC -688 SHS	P	2013-11-07	2015-05-20
	T ROWE PRICE GROUP INC -33 SHS	P	2011-08-31	2015-05-21
	T ROWE PRICE GROUP INC -174 SHS	P	2013-11-05	2015-05-21
	T ROWE PRICE GROUP INC -34 SHS	P	2011-08-29	2015-05-22
	T ROWE PRICE GROUP INC -730 SHS	P	2011-08-30	2015-05-22
	T ROWE PRICE GROUP INC -129 SHS	P	2011-08-31	2015-05-22
	T ROWE PRICE GROUP INC -270 SHS	P	2010-09-20	2015-05-27
	T ROWE PRICE GROUP INC -497 SHS	P	2011-08-29	2015-05-27
	T ROWE PRICE GROUP INC -520 SHS	P	2010-08-09	2015-05-28
	T ROWE PRICE GROUP INC -319 SHS	P	2010-09-20	2015-05-28
	T ROWE PRICE GROUP INC -466 SHS	P	2010-08-09	2015-05-29
	AMAZON.COM INC -687 SHS	P	2014-05-06	2015-06-01
	T ROWE PRICE GROUP INC -194 SHS	P	2010-08-09	2015-06-10
	GILEAD SCIENCES INC -624 SHS	P	2013-08-22	2015-06-11
	GILEAD SCIENCES INC -884 SHS	P	2013-08-23	2015-06-11
	GILEAD SCIENCES INC -86 SHS	P	2013-08-22	2015-06-12
	GILEAD SCIENCES INC -518 SHS	P	2013-08-27	2015-06-12
	CELGENE CORP -1531 SHS	P	2008-01-29	2015-07-15
	CELGENE CORP -1145 SHS	P	2008-01-29	2015-07-16
	AMAZON.COM INC -604 SHS	P	2014-05-06	2015-07-28
	AMAZON.COM INC -204 SHS	P	2012-01-18	2015-07-29
	AMAZON.COM INC -97 SHS	P	2012-01-25	2015-07-29
	AMAZON.COM INC -300 SHS	P	2013-08-13	2015-07-29
	AMAZON.COM INC -57 SHS	P	2014-05-06	2015-07-29
	APPLE INC -615 SHS	P	2012-05-17	2015-08-03
	APPLE INC -1920 SHS	P	2013-01-30	2015-08-03
	APPLE INC -1304 SHS	P	2013-01-30	2015-08-04
	APPLE INC -1078 SHS	P	2013-01-30	2015-08-31
	APPLE INC -2989 SHS	P	2005-01-14	2015-09-01
	APPLE INC -2005 SHS	P	2013-01-30	2015-09-01
	SCHWAB CHARLES CORP -2432 SHS	P	2014-03-06	2015-09-02
	SCHWAB CHARLES CORP -2389 SHS	P	2014-03-10	2015-09-02
	SCHWAB CHARLES CORP -1308 SHS	P	2014-03-11	2015-09-02
	CAPITAL GAINS ADJUSTMFENT	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	36,423	40,735	-4,312
b	12,064	13,535	-1,471
c	23,901	27,057	-3,156
d	68,743	77,731	-8,988
e	1,821	1,947	-126
	141,677	80,918	60,759
	35,482	20,230	15,252
	109,908	63,490	46,418
	112,072	64,020	48,052
	17,708	57,777	-40,069
	22,180	75,258	-53,078
	4,718	16,461	-11,743
	3,345	11,485	-8,140
	12,498	38,980	-26,482
	17,638	44,239	-26,601
	71,960	177,878	-105,918
	19,891	34,596	-14,705
	22,989	40,603	-17,614
	18,307	32,149	-13,842
	29,573	53,220	-23,647
	81,971	86,805	-4,834
	37,300	39,559	-2,259
	62,092	66,460	-4,368
	60,976	65,603	-4,627
	113,017	120,867	-7,850
	29,211	30,164	-953
	23,550	24,599	-1,049
	103,256	107,344	-4,088
	111,181	115,892	-4,711
	60,459	62,527	-2,068
	67,618	68,753	-1,135
	71,915	73,356	-1,441
	16,509	17,070	-561
	30,729	30,726	3
	47,118	47,598	-480
	40,434	11,087	29,347
	178,320	48,938	129,382
	115,717	30,399	85,318
	20,301	5,318	14,983
	26,144	6,745	19,399
	42,844	10,103	32,741
	23,981	5,563	18,418
	164,007	39,238	124,769
	149	139	10
	248,043	118,102	129,941
	199,290	94,360	104,930
	14,012	6,679	7,333
	219,309	104,586	114,723
	110,005	53,057	56,948
	87,209	42,201	45,008
	44,563	21,384	23,179
	89,967	42,991	46,976
	55,964	9,858	46,106
	333,309	58,881	274,428
	118,016	21,667	96,349
	3,635	741	2,894
	370,937	174,275	196,662
	61,661	10,764	50,897
	167,528	100,344	67,184
	423,135	257,356	165,779
	59,271	76,687	-17,416
	48,390	61,540	-13,150
	9,940	12,715	-2,775
	102,957	134,224	-31,267
	42,293	54,136	-11,843
	61,875	79,585	-17,710
	39,886	51,708	-11,822
	54,291	70,023	-15,732
	33,133	41,481	-8,348
	9,272	11,644	-2,372
	65,347	81,626	-16,279
	36,344	46,792	-10,448
	38,617	49,079	-10,462
	44,681	57,049	-12,368
	46,596	58,748	-12,152
	87,846	112,891	-25,045
	32,553	40,954	-8,401
	247,762	155,165	92,597
	42,319	26,925	15,394
	126,988	79,509	47,479
	127,697	74,328	53,369
	51,260	30,063	21,197
	65,416	39,004	26,412
	25,876	72,710	-46,834
	35,699	102,332	-66,633
	24,996	74,217	-49,221
	39,254	118,644	-79,390
	38,656	119,125	-80,469
	41,754	129,821	-88,067
	27,742	87,133	-59,391
	24,785	78,819	-54,034
	12,498	39,918	-27,420
	8,555	27,871	-19,316
	12,181	43,508	-31,327
	20,278	72,072	-51,794
	19,257	66,211	-46,954
	45,521	125,614	-80,093
	17,286	48,288	-31,002
	9,120	8,695	425
	422	342	80
	50,215	47,541	2,674
	13,516	12,755	761
	16,957	16,215	742
	19,819	18,667	1,152
	56,344	53,184	3,160
	2,696	1,778	918
	14,217	13,422	795
	2,781	1,793	988
	59,702	38,552	21,150
	10,550	6,952	3,598
	21,898	13,753	8,145
	40,309	26,208	14,101
	42,176	26,000	16,176
	25,873	16,248	9,625
	37,684	23,300	14,384
	295,914	207,724	88,190
	15,614	9,700	5,914
	74,304	37,212	37,092
	105,265	52,749	52,516
	10,096	5,129	4,967
	60,811	30,718	30,093
	200,874	41,546	159,328
	152,879	31,071	121,808
	318,597	182,628	135,969
	108,129	38,679	69,450
	51,414	18,129	33,285
	159,013	87,369	71,644
	30,213	17,235	12,978
	72,814	47,382	25,432
	227,323	126,297	101,026
	150,295	85,777	64,518
	121,733	70,910	50,823
	329,656	15,100	314,556
	221,131	131,888	89,243
	70,705	65,825	4,880
	69,455	64,947	4,508
	38,027	35,514	2,513
	2,090,690		2,090,690

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			-4,312
b			-1,471
c			-3,156
d			-8,988
e			-126
			60,759
			15,252
			46,418
			48,052
			-40,069
			-53,078
			-11,743
			-8,140
			-26,482
			-26,601
			-105,918
			-14,705
			-17,614
			-13,842
			-23,647
			-4,834
			-2,259
			-4,368
			-4,627
			-7,850
			-953
			-1,049
			-4,088
			-4,711
			-2,068
			-1,135
			-1,441
			-561
			3
			-480
			29,347
			129,382
			85,318
			14,983
			19,399
			32,741
			18,418
			124,769
			10
			129,941
			104,930
			7,333
			114,723
			56,948
			45,008
			23,179
			46,976
			46,106
			274,428
			96,349
			2,894
			196,662
			50,897
			67,184
			165,779
			-17,416
			-13,150
			-2,775
			-31,267
			-11,843
			-17,710
			-11,822
			-15,732
			-8,348
			-2,372
			-16,279
			-10,448
			-10,462
			-12,368
			-12,152
			-25,045
			-8,401
			92,597
			15,394
			47,479
			53,369
			21,197
			26,412
			-46,834
			-66,633
			-49,221
			-79,390
			-80,469
			-88,067
			-59,391
			-54,034
			-27,420
			-19,316
			-31,327
			-51,794
			-46,954
			-80,093
			-31,002
			425
			80
			2,674
			761
			742
			1,152
			3,160
			918
			795
			988
			21,150
			3,598
			8,145
			14,101
			16,176
			9,625
			14,384
			88,190
			5,914
			37,092
			52,516
			4,967
			30,093
			159,328
			121,808
			135,969
			69,450
			33,285
			71,644
			12,978
			25,432
			101,026
			64,518
			50,823
			314,556
			89,243
			4,880
			4,508
			2,513
			2,090,690

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	4,541,082
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	1,365,000	36,090,783	0.037821
2012	965,000	29,136,622	0.033120
2011	123,000	28,659,702	0.004292
2010	1,861,512	23,521,236	0.079142
2009	941,938	22,270,700	0.042295

2	Total of line 1, column (d) ......................	2	0.196670
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.039334
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	42,418,716
5	Multiply line 4 by line 3.......................	5	1,668,498
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	45,813
7	Add lines 5 and 6.........................	7	1,714,311
8	Enter qualifying distributions from Part XII, line 4..............	8	1,735,000
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	45,813
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	45,813
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	45,813
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	104,000
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	104,000
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	58,187
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax58,187	Refunded	11	0

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

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

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

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

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

Yes

Website address bullet

N/A

The books are in care of bullet

SACKS PRESS LACHER PC Telephone no. bullet

(212) 682-6640

Located at bullet

600 THIRD AVENUENEW YORKNY ZIP+4 bullet

10016

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
MILDRED SICELOFF	PRES. 5.00	0	0	0
C/O SACKS 600 THIRD AVENUE NEW YORK,NY10016	PRES. 5.00	0	0	0
PATRICIA LIVINGSTON	SEC'Y 5.00	0	0	0
C/O SACKS 600 THIRD AVENUE NEW YORK,NY10016	SEC'Y 5.00	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...................				0

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

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

Part IX-A

Summary of Direct Charitable Activities

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


2


3


4

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Part X

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

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

purposes:

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

42,516,285

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

548,401

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

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

43,064,686

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

43,064,686

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

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

645,970

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

42,418,716

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

2,120,936

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

2,120,936

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

45,813

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

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

45,813

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

2,075,123

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

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

2,075,123

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

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

2,075,123

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 ..........

1,735,000

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

1,735,000

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

45,813

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

1,689,187

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				2,075,123
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......			1,691,254
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......
b From 2010.......
c From 2011.......
d From 2012.......
e From 2013.......
fTotal of lines 3a through e.........	0
4Qualifying distributions for 2014 from Part
XII, line 4: $ 1,735,000
a Applied to 2013, but not more than line 2a				1,691,254
b Applied to undistributed income of prior years (Election required—see instructions).....		0
c Treated as distributions out of corpus (Election required—see instructions).........	0
d Applied to 2014 distributable amount.....				43,746
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2014.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........		0
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........				2,031,377
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......	0
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...	0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2010....
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

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2014)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ALASKA WILDERNESS LEAGUE 122 C STREET NW WASHINGTON,DC20001	NONE		GENERAL CHARITABLE PURPOSES	40,000
ARIZONA WILDERNESS SOCIETY 1615 M STREET NW WASHINGTON,DC20036	NONE		GENERAL CHARITABLE PURPOSES	40,000
BADLANDS CONSERVATION ALLIANCE 801 NORTH 10TH STREET BISMARK,ND58501	NONE		GENERAL CHARITABLE PURPOSES	30,000
BEAUFORT COUNTY OPEN LANDS 1001 BAY STREET BEAUFORT,SC29902	NONE		GENERAL CHARITABLE PURPOSES	35,000
BRONX CHILDRENS MUSEUM PO BOX 3181 BRONX,NY10451	NONE		GENERAL CHARITABLE PURPOSESGENERAL CHARITABLE PURPOSES	50,000
CATSKILL ANIMAL SANCTUARY 316 OLD STAGE ROAD SAUGERTIES,NY12477	NONE		GENERAL CHARITABLE PURPOSES	15,000
CONNECTICUT FUND FOR THE ENVIRONMENT 142 TEMPLE STREET NEW HAVEN,CT06510	NONE		GENERAL CHARITABLE PURPOSES	65,000
CONSERVATION LAND FOUNDATION 160 EAST 12TH STREET DURANGO,CO81301	NONE		GENERAL CHARITABLE PURPOSES	60,000
ENVIRONMENT AND HUMAN HEALTH 1191 RIDGE ROAD NORTH HAVEN,CT06473	NONE		GENERAL CHARITABLE PURPOSES	70,000
GREENPEACE FUND 702 H STREET WASHINGTON,DC20001	NONE		GENERAL CHARITABLE PURPOSES	30,000
HUMANE EDUCATION ADVOCATES REACHING TEACHERS PO BOX 738 MAMARONECK,NY10543	NONE		GENERAL CHARITABLE PURPOSES	25,000
INSTITUTE FOR ENERGY ECONOMICS 3430 ROCKY RIVER ROAD CLEVELAND,OH44111	NONE		GENERAL CHARITABLE PURPOSES	45,000
LEAGUE OF CONSERVATION VOTERS 1920 L STREET NW WASHINGTON,DC20036	NONE		GENERAL CHARITABLE PURPOSES	35,000
MOUNT GRACE LAND CONSERVATION TRUST 1461 OLD KEENE ROAD ATHOL,MA01331	NONE		GENERAL CHARITABLE PURPOSES	70,000
NATURE CONSERVANCY OF CONNECTICUT 55 CHURCH STREET NEW HAVEN,CT06510	NONE		GENERAL CHARITABLE PURPOSES	200,000
NEVADA WILDERNESS PROJECT 333 FLINT STREET RENO,NV89501	NONE		GENERAL CHARITABLE PURPOSES	60,000
NEW MEXICO WILDERNESS ALLIANCE PO BOX 25464 ALBUQUERQUE,NM87125	NONE		GENERAL CHARITABLE PURPOSES	30,000
NEW YORK PUBLIC INTEREST RESEARCH 9 MURRAY STREET NEW YORK,NY10007	NONE		GENERAL CHARITABLE PURPOSES	12,000
NY COALITION FOR HEALTHY SCHOOL FUND 141 HALSTEAD STREET MAMARONECK,NY10543	NONE		GENERAL CHARITABLE PURPOSES	8,000
OPEN SPACE INSTITUTE 1350 BROADWAY NEW YORK,NY10018	NONE		GENERAL CHARITABLE PURPOSES	25,000
OREGON NATURAL DESERT ASSOCIATION 50 SW BOND AVENUE BEND,OR97702	NONE		GENERAL CHARITABLE PURPOSES	50,000
PEW CAMPAIGN FOR AMERICA'S WILDERNESS ONE COMMERCE SQUARE PHILADELPHIA,PA19103	NONE		GENERAL CHARITABLE PURPOSES	60,000
PLANNED PARENTHOOD OF SOUTHERN NEW ENGLAND 345 WHITNEY AVENUE NEW HAVEN,CT06511	NONE		GENERAL CHARITABLE PURPOSES	50,000
RAILS TO TRAILS CONSERVANCY 2121 WARD CT NW 5TH FLOOR WASHINGTON,DC20037	NONE		GENERAL CHARITABLE PURPOSES	55,000
ROUNDOUT-ESOPUS LAND CONSERVANCY 112 SPIRNG STREET SARATOGA SPRINGS,NY12866	NONE		GENERAL CHARITABLE PURPOSES	10,000
SCENIC HUDSON ONE CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE,NY12601	NONE		GENERAL CHARITABLE PURPOSES	25,000
SOUTHEASTERN ALASKA CONSERVATION COUNCIL 224 GOLD STREET JUNEAU,AK99801	NONE		GENERAL CHARITABLE PURPOSES	45,000
THE WILDERNESS SOCIETY 1615 M STREET NW WASHINGTON,DC20036	NONE		GENERAL CHARITABLE PURPOSES	75,000
UNIVERSITY OF WASHINGTON FOUNDATION 407 GERBERDING HALL SEATTLE,WA98195	NONE		GENERAL CHARITABLE PURPOSES	75,000
WASHINGTON ENVIRONMENTAL COUNCIL 1402 3RD AVENUE SAN FRANCISCO,WA98101	NONE		GENERAL CHARITABLE PURPOSES	10,000
WILD SOUTH'S TENESSEE WILDERNESS CAMPAIGH 16 EAGLE STREET ASHVILLE,NC28801	NONE		GENERAL CHARITABLE PURPOSES	35,000
WOODSTOCK FARM ANIMAL SANCTUARY 35 VAN WAGNER ROAD WILLOW,NY12495	NONE		GENERAL CHARITABLE PURPOSES	25,000
WOODSTOCK LAND CONSERVANCY PO BOX 864 WOODSTOCK,NY12498	NONE		GENERAL CHARITABLE PURPOSES	15,000
WYOMING WILDERNESS ASSOCIATION 224 SOUTH MAIN SHERIDAN,WY82801	NONE		GENERAL CHARITABLE PURPOSES	35,000
350ORG 20 JAY STREET BROOKLYN,NY11201	NONE		GENERAL CHARITABLE PURPOSES	35,000
CHILD FIND OF AMERICA 41 MAIN STREET NEW PALTZ,NY12561	NONE		GENERAL CHARITABLE PURPOSES	10,000
CLIMATE SOLUTIONS 1402 THIRD AVENUE SEATTLE,WA98101	NONE		GENERAL CHARITABLE PURPOSES	15,000
FRIENDS OF THE DICKENSON MEMORIAL MAIN STREET CLINTWOOD,VA24228	NONE		GENERAL CHARITABLE PURPOSES	5,000
LAND TRUST ALLIANCE 1661 L STREET WASHINGTON,DC20036	NONE		GENERAL CHARITABLE PURPOSES	50,000
THE NATURE CONSERVANCY 322 8TH AVENUE NEW YORK,NY10001	NONE		GENERAL CHARITABLE PURPOSES	30,000
WOODSTOCK FARM ANIMAL SOCIETY 2 RESCUE ROAD HIGH FALLS,NY12440	NONE		GENERAL CHARITABLE PURPOSES	15,000
YOSEMITE CONSERVANCY 101 MONTGOMERY STREET SAN FRANCISCO,CA94104	NONE		GENERAL CHARITABLE PURPOSES	65,000
Total ................................. 3a				1,735,000

bApproved for future payment

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

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
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	435,764
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	4,541,082
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		4,976,846	0

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

134,976,846

(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:

TY 2014 AccountingFeesSchedule

Name:

TORTUGA FOUNDATION

EIN: 51-0245279

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING	3,000	3,000		0

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

TORTUGA FOUNDATION

EIN: 51-0245279

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CORPORATE STOCK	29,553,707	47,028,711

- TIN:

TY 2014 OtherExpensesSchedule

Name:

TORTUGA FOUNDATION

EIN: 51-0245279

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MISCELLANEOUS	2,098	0		0

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

TORTUGA FOUNDATION

EIN: 51-0245279

Category	Amount	Net Investment Income
INVESTMENT ADVISORY	298,378	298,378
GRANT CONSULTING FEE	75,000	75,000
CUSTODY FEE	19,188	19,188

- TIN:

TY 2014 TaxesSchedule

Name:

TORTUGA FOUNDATION

EIN: 51-0245279

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE	153,066	0		0