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 RAVITZ FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)514 SOUTH ROSE STREET   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
KALAMAZOO, MI490075212
A Employer identification number

38-3508943
B Telephone number (see instructions)

(269) 382-2844
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$40,185,395J 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).............. 0
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 10,171 10,171  
4 Dividends and interest from securities...... 764,325 764,325  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,473,513
b Gross sales price for all assets on line 6a 10,828,110
7 Capital gain net income (from Part IV, line 2)... 1,473,513
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........ 2,248,009 2,248,009  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 203,000 101,500   101,500
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 14,401 7,200   7,201
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 11,600 5,800   5,800
c Other professional fees (attach schedule).... Click to see attachment 187,290 187,290   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 106,763 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 20,400 10,200   10,200
21 Travel, conferences, and meetings....... 3,884 1,942   1,942
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 3,753 3,054   699
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 551,091 316,986   127,342
25 Contributions, gifts, grants paid........ 1,765,300 1,765,300
26 Total expenses and disbursements. Add lines 24 and 25 2,316,391 316,986   1,892,642
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -68,382
b Net investment income (if negative, enter -0-) 1,931,023
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............... 100,783 375,539 375,539
2 Savings and temporary cash investments.......... 8,107,404 2,072,102 2,072,268
3 Accounts receivable bullet714
Less: allowance for doubtful accounts bullet   74 714 714
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)      
b Investments—corporate stock (attach schedule)........ 6,615,216 Click to see attachment7,491,270 9,040,059
c Investments—corporate bonds (attach schedule)........ 1,346,122 Click to see attachment6,441,784 6,509,482
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 15,482,114 Click to see attachment15,201,582 22,187,333
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) 31,651,713 31,582,991 40,185,395
Liabilities 17 Accounts payable and accrued expenses.......... 384 44
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).......... 384 44
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......... 19,798,753 19,798,753
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 11,852,576 11,784,194
30 Total net assets or fund balances (see instructions)...... 31,651,329 31,582,947
31 Total liabilities and net assets/fund balances (see instructions).. 31,651,713 31,582,991
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 31,651,329
2 Enter amount from Part I, line 27a..................... 2 -68,382
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 31,582,947
5 Decreases not included in line 2 (itemize) bullet 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 31,582,947
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 - COMERICA BANK ACCOUNT      
b PUBLICLY TRADED SECURITIES - COMERICA BANK ACCOUNT      
c 2150 UNITS LAZARD LTD     2014-07-23
d PUBLICLY TRADED SECURITIES MORGAN STANLEY ACCOUNT      
e PUBLICLY TRADED SECURITIES - MORGAN STANLEY ACCOUNT      
10513 UNITS ISHARES S&P GSCI COMMODITY-INDEXED TRUST     2014-10-29
LITIGATION SETTLEMENT PROCEEDS P    
POWERSHARES DB COMMODITY INDEX FUND - GAINS/LOSSES FROM K-1 P    
ISHARES S&P GSCI COMMODITY INDEX FUND - OTHER LOSSES P    
POWERSHARES DB COMMODITY INDEX FUND - OTHER LOSSES P    
ISHARES S&P GSCI COMMODITY INDEX FUND - GAINS FROM K-1 P    
(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 1,859,374   1,691,603 167,771
b 3,112,259   2,343,549 768,710
c 100,828   68,382 32,446
d 2,975,422   3,009,554 -34,132
e 2,482,340   1,853,108 629,232
296,151   324,592 -28,441
1,725     1,725
    1,172 -1,172
    20,081 -20,081
    42,556 -42,556
11     11
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       167,771
b       768,710
c       32,446
d       -34,132
e       629,232
      -28,441
      1,725
      -1,172
      -20,081
      -42,556
      11
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 1,473,513
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 2,020,909 37,706,985 0.053595
2012 1,812,352 35,140,912 0.051574
2011 1,825,422 34,565,628 0.052810
2010 1,162,091 33,251,148 0.034949
2009 1,655,328 31,676,801 0.052257
2 Total of line 1, column (d) ...................... 2 0.245185
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 0.049037
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 40,162,174
5 Multiply line 4 by line 3....................... 5 1,969,433
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 19,310
7 Add lines 5 and 6......................... 7 1,988,743
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,892,642
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 38,620
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 0
3 Add lines 1 and 2........................... 3 38,620
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 38,620
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 107,520
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.............. 7 107,520
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 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 68,900
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet68,900 RefundedBullet 11 0
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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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
 
No
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)
    bulletMI
    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 addressbulletN/A
    14
    The books are in care ofbulletMR BRUCE GELBAUGH Telephone no.bullet (269) 382-2844
    Located atbullet514 SOUTH ROSE STREETKALAMAZOOMI ZIP+4bullet49007
    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
    BRUCE GELBAUGH VP/TREASURER
    15.00     		94,000 0 0
    514 S ROSE STREET
    KALAMAZOO,MI49007
    BURTON SHIFMAN PRESIDENT
    16.00     		94,000 0 0
    514 S ROSE STREET
    KALAMAZOO,MI49007
    ARNOLD SHIFMAN ASSISTANT SECRETARY
    1.00     		5,000 0 0
    514 S ROSE STREET
    KALAMAZOO,MI49007
    JONATHAN AARON SECRETARY
    1.00     		5,000 0 0
    514 S ROSE STREET
    KALAMAZOO,MI49007
    LAWRENCE HANDLER DIRECTOR
    1.00     		5,000 0 0
    514 S ROSE STREET
    KALAMAZOO,MI49007
    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...................bullet 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
    MORGAN STANLEY INVESTMENT MANAGEMENT FEES 104,794
    40701 WOODWARD AVE SUITE 200
    BLOOMFIELD,MI48304
    COMERICA BANK INVESTMENT MANAGEMENT FEES 82,496
    PO BOX 75000
    DETROIT,MI482753317
    Total number of others receiving over $50,000 for professional services.............bullet0
    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.........................bullet0
    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
    36,955,239
    b
    Average of monthly cash balances.......................
    1b
    3,818,542
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    40,773,781
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    40,773,781
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    611,607
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    40,162,174
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    2,008,109
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    2,008,109
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    38,620
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    38,620
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,969,489
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,969,489
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,969,489
    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
    1,892,642
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,892,642
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,892,642
    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 1,969,489
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 55,144
    b From 2010.......  
    c From 2011....... 110,587
    d From 2012....... 65,684
    e From 2013....... 186,600
    fTotal of lines 3a through e......... 418,015
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,892,642
    a Applied to 2013, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 1,892,642
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 76,847 76,847
    (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 5 341,168
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		341,168
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011.... 88,884
    c Excess from 2012.... 65,684
    d Excess from 2013.... 186,600
    e Excess from 2014....  
    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).)
    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
    AMERICAN JEWISH COMMITTEE
    165 EAST 56 STREET
    NEW YORK,NY10022     		NONE PUBLIC INTERRELIGIOUS AFFAIRS PROGRAMMING 100,000
    AMERICAN TECHNION SOCIETY
    55 EAST 59TH STREET
    NEW YORK,NY10022     		NONE PUBLIC RAVITZ FOUNDATION CHAIR 200,000
    BIG BROTHERSBIG SISTERS
    3501 COVINGTON ROAD
    KALAMAZOO,MI49001     		NONE PUBLIC GENERAL SUPPORT 25,000
    BOYS & GIRLS CLUB OF GREATER KALAMAZOO
    915 LAKE STREET
    KALAMAZOO,MI49001     		NONE PUBLIC GENERAL SUPPORT 25,000
    BRONFMAN CENTER NEW YORK UNIVERSITY
    25 WEST FOURTH STREET 4TH FLOOR
    NEW YORK,NY100121119     		NONE PUBLIC JEWISH STUDENT LIFE ANNUAL FUND 1,000
    CONGREGATION BETH SHALOM
    14601 WEST LINCOLN ROAD
    OAK PARK,MI482371333     		NONE PUBLIC GENERAL SUPPORT 7,500
    CONGREGATION BETH SHALOM
    14601 WEST LINCOLN ROAD
    OAK PARK,MI482371333     		NONE PUBLIC GENERAL SUPPORT 1,000
    CONGREGATION BETH SHALOM
    14601 WEST LINCOLN ROAD
    OAK PARK,MI482371333     		NONE PUBLIC BUILDING MAINTENANCE PROGRAM 35,000
    FAMILY & CHILDREN SERVICES
    1608 LAKE STREET
    KALAMAZOO,MI49001     		NONE PUBLIC GENERAL SUPPORT 5,000
    HAZEL PARK SCHOOLS
    1620 EAST ELZA
    HAZEL PARK,MI48030     		NONE PUBLIC PROMISE ZONE 2,500
    HILLEL CAMPUS ALLIANCE OF MICHIGAN
    360 CHARLES STREET
    EAST LANSING,MI48823     		NONE PUBLIC GENERAL SUPPORT 75,000
    HILLEL DAY SCHOOL OF METROPOLITAN DETROIT
    32200 MIDDLEBELT ROAD
    FARMINGTON HILLS,MI483341715     		NONE PUBLIC ANGEL FUND 5,000
    HOLOCAUST MEMORIAL CENTER
    28123 ORCHARD LAKE ROAD
    FARMINGTON HILLS,MI483343738     		NONE PUBLIC GENERAL SUPPORT 100,000
    ISRAEL CHILDREN'S CENTERS
    3275 WEST HILLSBORO BOULEVARD SUITE
    102
    DEERFIELD BEACH,FL33442     		NONE PUBLIC GENERAL SUPPORT - BEER SHEVA TENNIS CENTER 25,000
    JEWISH COMMUNITY CENTER
    15110 WEST TEN MILE ROAD
    OAK PARK,MI48237     		NONE PUBLIC MACCABI GAMES 2014 25,000
    JEWISH FEDERATION & UNITED JEWISH FOUNDATION OF METROPOLITAN DETROIT
    6735 TELEGRAPH ROAD
    BLOOMFIELD HILLS,MI483032030     		NONE PUBLIC LEONARD N SIMONS COMM ARCHIVES PROGRAMMING ENDOWMENT 5,000
    JEWISH FEDERATION & UNITED JEWISH FOUNDATION OF METROPOLITAN DETROIT
    6735 TELEGRAPH ROAD
    BLOOMFIELD HILLS,MI483032030     		NONE PUBLIC RAVITZ SMALL MICHIGAN JEWISH COMMUNITIES INITIATIVE PROGRAMMING ENDOWMENT. 100,000
    JEWISH FEDERATION OF METROPOLITAN DETROIT
    6735 TELEGRAPH ROAD
    BLOOMFIELD HILLS,MI483032030     		NONE PUBLIC ISRAELI CAMPER FUND 100,000
    JEWISH ENSEMBLE THEATRE
    6600 WEST MAPLE ROAD
    WEST BLOOMFIELD,MI483223003     		NONE PUBLIC GENERAL SUPPORT 1,000
    JEWISH SENIOR LIFE
    6710 WEST MAPLE
    WEST BLOOMFIELD,MI48322     		NONE PUBLIC EIGHTY OVER EIGHTY FUND 2,500
    KADIMA
    15999 W TWELVE MILE ROAD
    SOUTHFIELD,MI48076     		NONE PUBLIC KADIMA - RAVITZ HOME 15,000
    KALAMAZOO DREAM CENTER
    1122 PORTAGE STREET
    KALAMAZOO,MI49001     		NONE PUBLIC GENERAL SUPPORT 2,500
    KALAMAZOO LOAVES AND FISHES
    901 PORTAGE STREET
    KALAMAZOO,MI490013005     		NONE PUBLIC GENERAL SUPPORT 25,000
    MINISTRY WITH COMMUNITY
    440 N CHURCH STREET
    KALAMAZOO,MI49007     		NONE PUBLIC GENERAL SUPPORT 2,500
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM 25,000
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN 25,000
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC CAPSTONE SCHOLARSHIPS FOR FOURTH YEAR MEDICAL STUDENTS 65,000
    TAMARACK CAMPS
    6735 TELEGRAPH ROAD SUITE 380
    ROCHESTER,MI48301     		NONE PUBLIC GENERAL SUPPORT 95,000
    TAMARACK CAMPS
    6735 TELEGRAPH ROAD SUITE 380
    BLOOMFIELD HILLS,MI48301     		NONE PUBLIC ARTS CENTER BUILDING 125,000
    UNIVERSITY OF MICHIGAN
    3003 SOUTH STATE STREET SUITE 8000
    ANN ARBOR,MI481091288     		NONE PUBLIC DEPRESSION CENTER 167,000
    UNIVERSITY OF MICHIGAN
    3003 SOUTH STATE STREET SUITE 8000
    ANN ARBOR,MI481091288     		NONE PUBLIC CRANIOFACIAL ANOMALIES PROGRAM-RESEARCH GIFTS 1,500
    UNIVERSITY OF MICHIGAN
    3003 SOUTH STATE STREET SUITE 8000
    ANN ARBOR,MI481091288     		NONE PUBLIC MOTT'S CHILDRENS HOSPITAL 125,000
    UNIVERSITY OF MICHIGAN - CAMP MICHIGANIA
    3003 SOUTH STATE STREET SUITE 8000
    ANN ARBOR,MI481091288     		NONE PUBLIC CAMP MICHIGANIA 2,500
    UNIVERSITY OF MICHIGAN HILLEL FOUNDATION
    1429 HILL STREET
    ANN ARBOR,MI48104     		NONE PUBLIC GENERAL SUPPORT 50,000
    YAD EZRA
    2850 W ELEVEN MILE ROAD
    BERKLEY,MI48072     		NONE PUBLIC GENERAL SUPPORT 25,000
    CONGREGATION BETH SHALOM
    14601 WEST LINCOLN ROAD
    OAK PARK,MI482371333     		  PUBLIC GENERAL SUPPORT 1,000
    JEWISH COMMUNITY CENTER
    6600 WEST MAPLE ROAD
    WEST BLOOMFIELD,MI48322     		  PUBLIC SCHOLARSHIP DONATION 10,800
    BIRTHRIGHT ISRAEL
    33 E 33RD STREET 7TH FLOOR
    NEW YORK,NY10016     		  PUBLIC GENERAL SUPPORT 1,000
    NATIONAL RAMAH COMMISSION INC
    3080 BROADWAY
    NEW YORK,NY10027     		  PUBLIC GENERAL SUPPORT 5,000
    JEWISH HISTORICAL SOCIETY OF MI
    6600 WEST MAPLE ROAD
    WEST BLOOMFIELD,MI48332     		  PUBLIC GENERAL SUPPORT 2,500
    AMERICAN FRIENDS OF DARCHEL AVOT
    831 NORWOOD AVENUE
    LONG BRANCH,NJ077404651     		  PUBLIC GENERAL SUPPORT 5,000
    BEAUMONT FOUNDATION
    3711 W THIRTEEN MILE ROAD
    ROYAL OAK,MI480736769     		  PUBLIC CHILDRENS MIRACLE NETWORK - CRANIOFACIAL TEAM DONATION 2,500
    AMERICAN COMMITTEE FOR THE WEIZMANN INSTITUTE OF SCIENCE
    633 THIRD AVENUE
    NEW YORK,NY10017     		  PUBLIC WEIZMANN INSTITUE OF SCIENCE IN ISRAEL 5,000
    HENRY FORD HEALTH SYSTEM
    1 FORD PLACE 5A
    DETROIT,MI482023450     		  PUBLIC HERMELIN BRAIN TUMOR CENTER 50,000
    UNIVERSITY OF MICHIGAN - COLLEGE OF LITERATURE SCIENCE AND THE ARTS
    LSA BUILDING SUITE 500 500 SOUTH
    STATE STREET
    ANN ARBOR,MI481091382     		  PUBLIC HISTORY STRATEGIC FUND 1,000
    UNIVERSITY OF MICHIGAN
    3003 SOUTH STATE STREET SUITE 8000
    ANN ARBOR,MI481091288     		  PUBLIC DEMIRCI - DETECTION OF WHITE REFLEX RESEARCH 50,000
    HILLEL JEWISH STUDENT CENTER - MICHIGAN STATE UNIVERSITY
    360 CHARLES STREET
    EAST LANSING,MI48823     		  PUBLIC GENERAL SUPPORT 40,000
    Total .................................bullet 3a 1,765,300
    bApproved for future payment
    AMERICAN TECHNION SOCIETY
    55 EAST 59TH STREET
    NEW YORK,NY10022     		NONE PUBLIC RAVITZ FOUNDATION CHAIR- TOTAL OVER NEXT YEAR 200,000
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC HADASSAH-HEBREW UNIVERSITY MEDICAL EXCHANGE PROGRAM- TOTAL OVER NEXT 3 YEARS 75,000
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC CAPSTONE PROJECT FOR A HEALTHY MICHIGAN- TOTAL OVER NEXT 3 YEARS 75,000
    OAKLAND UNIVERSITY
    2200 NORTH SQUIRREL ROAD
    ROCHESTER,MI483094497     		NONE PUBLIC CAPSTONE LINKED SCHOLARSHIP FOR FOURTH YEAR MEDICAL STUDENTS- TOTAL OVER NEXT 3 YEARS 195,000
    Total .................................bullet 3b 545,000
    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 10,171  
    4 Dividends and interest from securities....     14 764,325  
    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 1,473,513  
    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 2,248,009 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    132,248,009
    (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

    TY 2014 AccountingFeesSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PLANTE & MORAN 11,600 5,800   5,800

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC 5.5% 02/01/2018 276,034 275,973
    AMERICAN EXPRESS CR CORP 2.8% 09/19/2016 257,435 257,353
    ANHEUSER BUSCH INBEV WORLDWIDE I 5.375% 01/15/2020 284,141 283,160
    BLACKROCK INC 5% 12/10/2019 281,115 282,645
    CATERPILLAR FINL SVCS CORP 5.45% 04/15/2018 278,277 279,028
    CISCO SYS INC SR NT 3.15% 03/15/2017 260,862 261,325
    CREDIT SUISSE FIRST BOSTON USA 5.125% 08/15/2015 495,350 513,255
    GENERAL ELEC CAP CORP 5.375% 10/20/2016 251,238 268,703
    HSBC FINANCE CORP 5.5% 01/19/2016 497,430 522,755
    HERSHEY CO NT 4.125% 12/01/2020 272,992 270,940
    HOME DEPOT INC 5.4% 03/01/2016 263,856 263,828
    HONEYWELL 5.3% 03/01/2018 277,315 277,320
    IBM CORP 5.7% 09/14/2017 277,742 278,610
    JPMORGAN CHASE & CO INT 2% 08/15/2017 252,899 252,377
    LOWES 5.4% 10/15/2016 100,954 107,522
    PHILIP MORRIS INTL INC 2.5% 05/16/2016 255,715 255,945
    PRAXAIR INC 4.5% 08/15/2019 275,171 275,295
    PROCTER & GAMBLE CO 4.7% 02/15/2019 277,076 278,380
    SIMON PROPERTY GROUP INC 2.15% 09/15/2017-2017 253,016 254,237
    US BANCORP MEDIUM TERM 1.95% 11/15/2018-2018 250,727 250,760
    UNITED TECHNOLOGIES CORP 1.8% 06/01/2017 252,940 253,267
    WAL-MART STORES INC 5.375% 04/05/2017 273,065 273,327
    BP CAPITAL MARKETS PLC 4.75% 03/10/2019 276,434 273,477

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMAZON COM INC 52,047 49,656
    CBS CORP NEW CL B 51,788 46,486
    COMCAST CORP CL A 62,699 75,413
    CONSTELLATION BRANDS INC CL.. A 38,085 47,122
    RR DONNELLEY & SONS CO 55,213 78,647
    FORD MOTOR CO 92,252 87,110
    HARLEY DAVIDSON INC 26,022 24,387
    HOME DEPOT INC 74,095 99,722
    LEGGETT & PLATT INC 64,103 117,178
    MGM MIRAGE 42,354 34,849
    MEREDITH CORP 75,328 116,788
    NIKE INC CL B 20,370 42,306
    STARBUCKS CORP 46,668 51,692
    TARGET CORP 85,635 107,033
    TIME WARNER INC 47,503 64,919
    TWENTY-FIRST CENTY FOX INC 29,822 33,412
    VIACOM INC CL B 83,338 76,755
    BROWN FORMAN CORP CL B 24,084 24,595
    CLOROX CO 24,286 25,010
    COLGATE PALMOLIVE CO 53,156 56,044
    CONAGRA FOODS INC 94,814 123,352
    DISNEY WALT CO 73,925 89,481
    ECOLAB INC 33,728 54,350
    HERSHEY CO COMMON STOCK 74,196 77,948
    INTERNATIONAL FLAVORS 44,741 51,694
    KELLOGG CO 78,780 94,234
    KRAFT FOODS GROUP INC 50,013 59,527
    MOLSON COORS BREWING CO CL B 24,443 34,279
    MONDELEZ INTL INC 63,624 61,026
    MONSTER BEVERAGE CORP 74,254 120,269
    NEWELL RUBBERMAID INC 49,730 60,944
    PEPSICO INC 94,211 109,690
    PROCTER & GAMBLE CO 70,577 82,892
    TYSON FOODS INC CLASS A 41,726 40,491
    WHOLE FOODS MKT INC 64,371 69,580
    CALIFORNIA RES CORP - W/I 1,689 1,080
    CHEVRON CORPORATION 189,153 179,488
    CONOCOPHILLIPS 98,171 89,778
    EXXON MOBIL CORPORATION 107,156 108,167
    HELMERICH & PAYNE INC 29,100 18,203
    OCCIDENTAL PETROLEUM CORP 16,211 15,316
    PHILLIPS 66 37,606 36,567
    AMERICAN EXPRESS CO 72,721 76,293
    AMERICAN INTL GROUP INC 73,053 84,015
    ARES CAPITAL CORP 87,497 76,933
    BERKSHIRE HATHAWAY CL B 85,485 111,111
    BLACKROCK INC 42,387 50,058
    EDUCATION RLTY TR INC 84,071 112,551
    F N B CORP PA 94,160 97,502
    FIRSTMERIT CORPORATION 85,236 74,993
    GALLAGHER ARTHUR J & CO 87,807 90,394
    HANOVER INS GROUP INC 56,894 106,980
    HATTERAS FINL CORP 85,562 83,304
    M D C HLDGS INC 87,540 78,881
    MORGAN STANLEY 48,187 62,080
    OLD REP INTL CORP 69,334 81,782
    PNC FINANCIAL SERVICES GROUP 42,022 45,615
    ROLLINS INC 46,442 52,960
    STARWOOD PPTY TR INC 88,548 86,220
    SUMMIT HOTEL PPTYS INC COM 83,916 117,185
    VISA INC CL A 25,867 86,526
    WELLS FARGO & CO NEW 80,088 91,001
    ABBVIE INC 54,864 60,205
    AMGEN INC 52,807 97,167
    BIOGEN IDEC INC 50,169 71,284
    BRISTOL MYERS SQUIBBCO 44,519 49,585
    CVS/CAREMARK CORP 51,278 63,565
    CELGENE CORP 40,419 60,404
    CORNING INCORPORATED 57,880 103,873
    GILEAD SCIENCES INC 50,026 57,499
    HCA HLDGS INC COM 39,245 41,098
    HALYARD HEALTH INC 2,391 4,547
    JOHNSON & JOHNSON 145,727 236,328
    LILLY ELI & CO 64,211 64,161
    MEDTRONIC INC 66,159 83,030
    MERCK & CO INC NEW 153,815 202,740
    PFIZER INC 102,917 101,237
    SELECT MED HLDGS CORP 66,448 105,552
    THERMO FISHER SCIENTIFIC INC 50,747 52,622
    UNIVERSAL HEALTH SVCS INC CL B 24,029 25,590
    AMERICAN RAILCAR INDS INC 41,901 60,718
    BOEING CO 59,468 61,091
    GENERAL ELECTRIC CO 218,516 234,000
    HONEYWELL INTERNATIONAL INC 49,236 52,958
    KANSAS CITY SOUTHERN 41,284 50,032
    LSI INDS INC OHIO 20,338 19,827
    LOCKHEED MARTINCORP 56,294 67,399
    NORFOLK SOUTHERN CORP 69,755 101,937
    NORTHROP GRUMMAN CORP 35,416 44,217
    PBF ENERGY INC 89,448 89,510
    ROPER INDS INC NEW 21,774 40,651
    TALINTL GROUP INC 69,958 94,547
    UNITED TECHNOLOGI ES CORP 89,554 94,300
    WABTEC CORP 33,680 54,741
    ADOBE SYS INC 51,188 57,433
    APPLE INC 83,566 177,712
    CA INC 70,067 81,301
    CISCO SYS INC 80,420 92,346
    FACEBOOK INC 53,656 85,042
    FISERV INC 13,880 31,936
    GOOGLE INC CL C 99,489 94,752
    GREIF INC CL A 88,760 81,708
    INTEL CORP 142,918 186,168
    MICROSOFT CORP 103,703 191,374
    RAYTHEON COMPANY 72,626 81,127
    STEELCASE INC 93,462 104,289
    ALCOA INC 25,841 25,106
    AVERY DENNISON CORP 43,282 45,654
    DOW CHEMICAL CO 98,333 120,865
    INNOPHOS HLDGS INC 96,783 96,442
    KIMBERLY CLARK CORP 55,205 92,432
    MONSANTO CO 47,221 51,372
    SEALED AIR CORP NEW 40,206 53,462
    VERIZON COMMUNICATIONS 76,723 78,123
    LIONS GATE ENTERTAINMENT CORP 48,891 50,912
    PARTNERRE LTD ADR 11,981 20,543
    SCORPIO TANKERS INC 90,912 89,681

    TY 2014 InvestmentsOtherSchedule2
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ISHARES S&P SM CAP 600 INDEX FD AT COST 786,386 2,012,703
    MFS INTL NEW DISCOVERY I AT COST 251,987 321,646
    OPPENHEIMER DEVELOPING MARKETS FUND-Y AT COST 260,085 286,213
    ALLY BANK CD 1.15% 02/23/2016 AT COST 250,000 252,645
    GE CAPITAL RETAIL BANK CD 1.6% 03/16/2017 AT COST 250,000 251,705
    GOLDMAN SACHS BANK USA CD 1.7% 02/22/2017 AT COST 250,000 252,650
    MERCANTILE BANK CD .9% 02/29/2016 AT COST 250,000 250,480
    STATE BANK OF INDIA CD 1.65% 03/23/2017 AT COST 250,000 253,318
    ENERGY SEL SECT SPDR FD (XLE) AT COST 179,862 169,640
    GUGGENHEIM S&P 500 EQU WEIGHT (RSP) AT COST 921,531 1,666,161
    ISHARES MSCI EMERGING MKTS ETF (EEM) AT COST 951,228 915,496
    ISHARES N AMER NAT RES ETF (IGE) AT COST 377,094 355,226
    ISHARES S&P 500 GRWTH ETF (IVW) AT COST 2,328,148 4,224,283
    ISHARES S&P 500 VAL ETF (IVE) AT COST 2,449,822 4,089,685
    ISHARES SP SMALLCAP 600 INDEX (IJR) AT COST 596,699 1,067,373
    ISHARES US REAL ESTATE ETF (IYR) AT COST 514,840 748,652
    POWERSHARES DB COMM TRK INC (DBC)NET OF BASIS ADJUSTMENT AT COST 206,156 204,075
    SPDR MORGAN STANLEY TECHNOLOGY AT COST 270,793 432,251
    VANGUARD DIVIDEND APPRECIATION (VIG) AT COST 517,460 828,319
    VANGUARD FTSE DEVELOPED MKTS E (VEA) AT COST 1,761,737 1,902,978
    VANGUARD INTL EQUITY INDEX FD (VEU) AT COST 969,563 954,773
    WISDOM TREE INTL DIV TOP 100 (DOO) AT COST 271,306 312,253
    VOYA GLOBAL REAL ESTATE I (IGLIX) AT COST 336,885 434,808

    TY 2014 OtherExpensesSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 1,397 698   699
    INVESTMENT EXPENSES FROM K-1S 2,356 2,356   0


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 187,290 187,290   0


    TY 2014 TaxesSchedule
    Name:
    THE RAVITZ FOUNDATION
    EIN: 38-3508943
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 106,763 0   0