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
Henry and Sara Sheehan Foundation
 

Number and street (or P.O. box number if mail is not delivered to street address)310 N Kensington Avenue   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
La Grange Park, IL605261870
A Employer identification number

45-4126770
B Telephone number (see instructions)

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$3,816,767J 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)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 231 231  
4 Dividends and interest from securities...... 47,434 47,434  
5a Gross rents.............. 70,974 70,974  
b Net rental income or (loss) 70,974
6a Net gain or (loss) from sale of assets not on line 10 -48,499
b Gross sales price for all assets on line 6a 2,345,891
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 70,140 118,639  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 49,000 19,000   30,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 7,756 2,500   2,256
b Accounting fees (attach schedule)....... Click to see attachment 7,109 2,000   2,109
c Other professional fees (attach schedule).... Click to see attachment 5,138     5,138
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,912 1,806   3,106
19 Depreciation (attach schedule) and depletion... Click to see attachment 2,628    
20 Occupancy.............. 3,600     3,600
21 Travel, conferences, and meetings....... 1,785     1,785
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 26,063 19,607   6,456
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 107,991 44,913   54,450
25 Contributions, gifts, grants paid........ 71,000 71,000
26 Total expenses and disbursements. Add lines 24 and 25 178,991 44,913   125,450
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -108,851
b Net investment income (if negative, enter -0-) 73,726
c Adjusted net income (if negative, enter -0-)... 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............... -756 1,763 1,763
2 Savings and temporary cash investments.......... 354,449 1,245,634 1,245,634
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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)........ 721,683 Click to see attachment988,919 1,220,915
c Investments—corporate bonds (attach schedule)........ 541,503 Click to see attachment1,346,243 1,338,847
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet   2,076,381    
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 2,853 Click to see attachment6,433 6,433
14 Land, buildings, and equipment: basis bullet8,167
Less: accumulated depreciation (attach schedule) bullet4,992 4,730 Click to see attachment3,175 3,175
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,700,843 3,592,167 3,816,767
Liabilities 17 Accounts payable and accrued expenses.......... 1,618 1,793
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).......... 1,618 1,793
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 3,699,225 3,590,374
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)...... 3,699,225 3,590,374
31 Total liabilities and net assets/fund balances (see instructions).. 3,700,843 3,592,167
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 3,699,225
2 Enter amount from Part I, line 27a..................... 2 -108,851
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 3,590,374
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,590,374
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 Ruh Farms land and buildings D 2013-05-31 2014-09-25
b Ogden Avenue Holdings LLC D 2013-05-31 2014-07-07
c T Rowe Price ST Bond 5219207 P 2013-02-22 2014-01-08
d Vanguard Fixed Fd ST Adm 2334267 P 2012-12-18 2014-01-08
e Vanguard Fixed Fd ST Adm 2795899 P 2012-12-18 2014-04-01
Amgen Inc 20 shares P 2012-11-21 2014-05-02
Amgen Inc 130 shares P 2012-11-21 2014-06-20
Coca Cola Co 100 shares P 2012-11-21 2014-05-02
DuPont EI DeNemours & Co 200 shares P 2012-06-20 2014-03-05
Gilead Sciences Inc 150 shares P 2012-06-20 2014-05-02
Google Inc 12 shares P 2012-11-21 2014-06-20
Lowes Cos 225 shares P 2012-11-21 2014-06-05
McDonalds Corp 150 shares P 2012-11-21 2014-11-11
Prudential Financial 350 shares P 2012-11-21 2014-11-11
Qualcomm Inc 300 shares P 2012-11-21 2014-11-11
T Rowe Price ST Bd 6263048 P 2013-02-22 2014-04-01
Time Warner Inc 250 shares P 2013-02-22 2014-05-02
Wal Mart Stores Inc 175 shares P 2013-02-22 2014-11-11
Amgen Inc 20 shares P 2012-11-21 2014-06-20
Coca Cola Co 100 shares P 2012-11-21 2014-05-02
Lowes Cos 100 shares P 2012-11-21 2014-11-11
Wal Mart Stores P 2013-02-22 2014-11-11
(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 1,691,218   1,780,681 -89,463
b 367,500   370,521 -3,021
c 25,000   25,261 -261
d 24,977   25,350 -373
e 30,000   30,348 -348
2,250   1,731 519
15,640   9,762 5,878
4,072   3,815 257
13,441   10,242 3,199
11,639   4,925 6,714
6,643   3,998 2,645
11,368   6,651 4,717
14,269   13,139 1,130
30,264   21,291 8,973
20,805   19,188 1,617
30,000   30,313 -313
16,629   12,319 4,310
13,885   12,643 1,242
2,406   1,368 1,038
4,072   3,848 224
5,052   2,905 2,147
4,761   4,091 670
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        
b        
c        
d        
e        
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -48,499
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 -261
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 107,048 2,629,724 0.040707
2012 75,715 468,647 0.161561
2011      
2010      
2009      
2 Total of line 1, column (d) ...................... 2 0.202268
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 0.067423
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 3,836,208
5 Multiply line 4 by line 3....................... 5 258,649
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 737
7 Add lines 5 and 6......................... 7 259,386
8 Enter qualifying distributions from Part XII, line 4.............. 8 125,450
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 1,475
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 1,475
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 1,475
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a  
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. 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 1,475
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
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)
    bulletIL
    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 addressbullethttpsarascholarship.org
    14
    The books are in care ofbulletJoseph S Witkowski Telephone no.bullet (708) 482-4820
    Located atbullet547 N LaGrange RoadLa Grange ParkIL ZIP+4bullet605261870
    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
     
     
    .........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
     
     
    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
     
    No
    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
    Joseph S Witkowski Executive Director
    10.00     		49,000 0 1,153
    547 N LaGrange Road
    La Grange Park,IL605261870
    Robert J Wagner Director and President
    1.00     		200 0 174
    108 N Walkup Avenue
    Crystal Lake,IL60014
    Susan Kutchta Director
    1.00     		200 0 51
    28572 Windmere Court
    Lake Bluff,IL60044
    Catherine Dickson Director
    1.00     		200 0 352
    1045 Country Knoll Drive
    Saint Charles,MO63303
    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
    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 Administration of scholarship awards program 54,450
    2 Recipient scholarship awards issued 46,000
    3 Charitable organization donations 25,000
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,758,577
    b
    Average of monthly cash balances.......................
    1b
    805,192
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,330,858
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,894,627
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    3,894,627
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    58,419
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,836,208
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    191,810
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    191,810
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    1,475
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,475
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    190,335
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    190,335
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    190,335
    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
    125,450
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    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
    125,450
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    125,450
    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 7 190,335
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013....... 30,811
    fTotal of lines 3a through e......... 30,811
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 125,450
    a Applied to 2013, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		 
    d Applied to 2014 distributable amount..... 125,450
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2014. 30,811 30,811
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		34,074
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    None
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    None
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Joseph S Witkowski Executive Dir
    547 S LaGrange Road
    La Grange,IL60525
    (708) 482-4820
    clwitkowski@yahoo.com
    bThe form in which applications should be submitted and information and materials they should include:
    Sara Scholarship Application form, high school transcript, personal essay, Student Aid Report, Letter of Recommendation
    cAny submission deadlines:
    May 5 2015
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Recipient must be female, college bound high school senior, GPA of at least 3.1, financial need, involvement with golf
    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
    Brittany Ann Best
    130 Terrace Drive
    Waukee,IA50263     		None I Scholarship 2,000
    Fazela Alissukhu
    230 Rosery Road Northeast
    Largo,FL33770     		None I Scholarship 2,000
    Daphine G Ryan
    PO Box 1103
    Buckhannon,WV26201     		None I Scholarship 2,000
    Kelli J Niemeier
    1033 Frontier Road
    Beatrice,NE68310     		None I Scholarship 2,000
    Dominque Luongo
    801 Seasage Drive
    Delray Beach,FL33483     		None I Scholarship 2,000
    Kylie Blum
    1505 Cleveland Avenue
    Charles City,IA50616     		None I Scholarship 2,000
    Ellie Clark
    1630 N 2nd Street
    Sheldon,IA51201     		None I Scholarship 2,000
    Natalie Cook
    9 E Allaire St
    Ely,MN55731     		None I Scholarship 2,000
    Hailea Hadsall
    515 E Washington St
    Macomb,IL61455     		None I Scholarship 2,000
    Jade Hess
    414 E 3rd St
    Fonda,IA50540     		None I Scholarship 2,000
    Samantha Linder
    3242 Glen Lytle Rd
    Pittsburgh,PA15217     		None I Scholarship 2,000
    Breanna Sullivan
    4162 Maryland
    Detroit,MI48224     		None I Scholarship 2,000
    Brooke Wilder-Corrigan
    52321 Bootjack Road
    Lake Linden,MI49945     		None I Scholarship 2,000
    Emily K Cunningham
    8923 Dornoch Circle
    Winston,GA30187     		None I Scholarship 2,000
    Kimberly Ann Kim
    1968 N Crenshaw Circle
    Vernon Hills,IL60061     		None I Scholarship 2,000
    Dolly Tate
    18475 Klinger Street
    Detroit,MI48234     		None I Scholarship 2,000
    Kathy Vilaysith
    4364-12 52nd Street
    San Diego,CA92115     		None I Scholarship 2,000
    Carolyn Brianne Brazell
    29685 Hogan Avenue
    Ardmore,AL35739     		None I Scholarship 2,000
    Katherine Clay
    319 TJ King Road
    Lockesburg,AR71846     		None I Scholarship 2,000
    Katelyn Coyle
    201 Adams Street SE
    Cascade,IA52033     		None I Scholarship 2,000
    Arita Harris
    2418 Canterclub Trail
    Apopka,FL32712     		None I Scholarship 2,000
    Molly Lawler
    345 E 13th St
    Zumbrota,MN55992     		None I Scholarship 2,000
    Alexandria Sobers
    6836 Woodridge Dr
    Norfolk,VA23518     		None I Scholarship 2,000
    Maryville Academy
    1150 N River Road
    Des Plaines,IL60016     		None PC Charitable Donation 25,000
    Total .................................bullet 3a 71,000
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ............     		        231
    4 Dividends and interest from securities....         47,434
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property..... 532000 70,974      
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    03 -48,499  
    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).. 70,974 -48,499 47,665
    13Total. Add line 12, columns (b), (d), and (e)..................
    1370,140
    (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.)
    03 Investment income
    04 Investment income
    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:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Stein Certified Public Account 7,109 2,000 0 2,109

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

    TY 2014 DepreciationSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    Computer 2014-01-27 1,073 0 SL 4 264 0 0  
    Website developments 2013-01-01 7,094 2,364 SL 3 2,364 0 0  
    Ogden Avenue Holdings LLC 2013-05-31 0 0 NDA   0 0 0  
    Ruh Farms 2013-05-31 0 0 NDA   0 0 0  

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Bank of Nova Scotia 1.375% 07. 50,655 50,335
    Cisco Systems 3.15% 03.14.2017 27,093 26,133
    EMC Corp 1.875% 06.01.2018 34,929 34,881
    T.Rowe Price ST Bd Fd 16410.30 79,426 77,949
    Shell Intl. 1.125% 08.21.2017 49,532 49,915
    Toronto Dominion Bank 1.40% 04 49,259 49,687
    Vanguard Fixed Income ST Corp 189,302 187,994
    Walmart Stores, Inc. 1.95% 12. 50,035 50,645
    Apple Inc 2.10% 05.06.2019 75,957 75,851
    BB&T Corp 2.45% 01.15.2020 75,073 74,695
    Bank of NY 2.20% 05.15.2019 50,286 50,140
    Federal Farm 1.60% 08.13.2018 49,975 50,063
    General Elec 5.25% 12.06.2017 56,908 55,465
    General Elec 2.30% 04.27.2017 77,097 76,819
    Oracle Corp 2.375% 01.15.2019 76,378 76,297
    PNC Bank 1.150% 01.01.2016 75,225 75,100
    Pepsico 2.25% 01.07.2019 50,919 50,571
    Royal Bank of CA 2.3% 07.20.16 51,718 51,027
    State Street 1.35% 05.15.2018 74,262 73,757
    US Bancorp 1.95% 11.15.2018 49,827 50,152
    Wells Fargo 2.625% 12.15.2016 52,387 51,371

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Eaton Corp PLC 250 shares 15,063 16,990
    Ace Limited New 100 shares 9,182 11,488
    Amgen Inc 170 shares 0 0
    Apple Inc 350 shares 28,964 38,633
    Boeing Co 200 shares 17,229 25,996
    Bristol Myers-Squibb Co300 s 9,740 17,709
    CVS Caremark Corp 300 shares 15,943 28,893
    Celgene Corp 200 shares 17,989 22,372
    Chevron Corp 225 shares 20,137 25,240
    Cisco Systems Inc 1000 shares 24,685 27,815
    Coca-Cola Co 400 shares 9,167 16,888
    Comcast Corp New CL A 450 sha 13,777 26,105
    Conoco-Phillips 350 shares 23,165 24,171
    Danaher Corp 300 shares 18,622 25,713
    Disney Walt Co 300 shares 15,635 28,257
    DuPont EI DeNemours Co 200 sh 0 0
    Express Scripts Holding Co 350 20,279 29,634
    Exxon Mobil Corp 400 shares 19,033 36,980
    General Electric Co 700 sh 16,474 17,689
    Gilead Sciences Inc 400 sh 5,684 37,704
    Google Inc 52 shares 17,813 27,509
    American Funds Growth 1626402 70,000 69,285
    Haliburton Holding 500 shares 22,827 19,665
    Illinois Tool Works Inc 295 16,619 27,936
    Intel Corp 500 shares 12,283 18,145
    IBM 100 shares 20,664 16,044
    Johnson Controls Inc 500 sh 24,018 24,170
    Lowes Co 325 shares 0 0
    McDonalds Corp 150 shares 0 0
    Pfizer Inc 750 shares 14,414 23,362
    Phillip Morris Intl Inc 150 13,279 12,218
    Proctor & Gamble 250 shares 19,752 22,773
    Prudential Financial Inc 350 0 0
    Qualcomm Inc 300 shares 0 0
    Rw Funds Mid Cap 3586054 sh 50,000 49,093
    Time Warner Inc 250 shares 0 0
    US Bancorp Del New 700 shares 24,449 31,465
    United Parcel Services 225 sh 17,580 25,013
    Verizon Comm 300 shares 14,027 14,034
    Walmart Stores Inc 235 sh 0 0
    Walgreen Co 400 shares 22,210 30,480
    Wasatch Core Growth 959085 50,000 54,946
    Wells Fargo & Co New 600 sha 20,354 32,892
    Allstate Corp 200 shares 13,891 14,050
    Cognizant Tech Solutions 200 s 10,651 10,532
    Discover Financial Serv 450 sh 29,846 29,471
    Dodge & Cox 567635 shares 100,000 102,708
    Kraft Foods Group 200 shares 12,585 12,532
    Macys Inc 300 shares 17,673 19,725
    Microsoft Corp 500 shares 21,748 23,225
    Rowe T Price Growth 475828 25,000 24,719
    Southern Co 300 shares 14,445 14,733
    Union Pacific Corp 100 shares 12,023 11,913

    TY 2014 InvestmentsOtherSchedule2
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Accrued income- Equities Investment   1,510 1,510
    Accrued income- Fixed Income   4,886 4,886
    Accrued income- Cash   37 37

    TY 2014 LandEtcSchedule2
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Furniture and equipment 1,073 264 809 809
    Website development 7,094 4,728 2,366 2,366


    TY 2014 LegalFeesSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Hoogendoorn & Talbot LLP 7,756 2,500 0 2,256


    TY 2014 OtherExpensesSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment management fees 19,607 19,607 0 0
    Bank fees 55 0 0 55
    Fees and licenses 260 0 0 260
    Gifts 200 0 0 200
    Insurance 5,173 0 0 5,173
    Miscellaneous 110 0 0 110
    Office supplies 658 0 0 658


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Contracted services 1,970 0 0 1,970
    Board stipends 1,000 0 0 1,000
    Web design services 2,168 0 0 2,168


    TY 2014 TaxesSchedule
    Name:
    Henry and Sara Sheehan Foundation
    EIN: 45-4126770
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Payroll taxes 4,606 1,500 0 3,106
    Federal excise tax 306 306 0 0