Form990-PF
Click to see attachment

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 Heed Ophthalmic Foundation 1045000111
 

Number and street (or P.O. box number if mail is not delivered to street address)120 S LaSalle St 7th Floor   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Chicago, IL60603
A Employer identification number

36-6012426
B Telephone number (see instructions)

(312) 564-3924
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$4,878,956J 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 1 1  
4 Dividends and interest from securities...... 133,169 134,177  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 138,170
b Gross sales price for all assets on line 6a 906,473
7 Capital gain net income (from Part IV, line 2)... 138,170
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)....... Click to see attachment 30,020    
12 Total. Add lines 1 through 11........ 301,360 272,348  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 55,647 24,257   31,980
14 Other employee salaries and wages...... 8,790     8,790
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,000     1,000
c Other professional fees (attach schedule).... Click to see attachment 9,000 9,000    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,072 1,706   2,072
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 57,365     57,365
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,263 56   1,207
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 135,137 35,019   102,414
25 Contributions, gifts, grants paid........ 155,958 155,958
26 Total expenses and disbursements. Add lines 24 and 25 291,095 35,019   258,372
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 10,265
b Net investment income (if negative, enter -0-) 237,329
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............... 10,338 6,549 6,549
2 Savings and temporary cash investments..........      
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)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 3,664,658 Click to see attachment3,680,050 4,872,407
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) 3,674,996 3,686,599 4,878,956
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 3,674,996 3,686,599
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)...... 3,674,996 3,686,599
31 Total liabilities and net assets/fund balances (see instructions).. 3,674,996 3,686,599
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 3,674,996
2 Enter amount from Part I, line 27a..................... 2 10,265
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 1,338
4 Add lines 1, 2, and 3.......................... 4 3,686,599
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 3,686,599
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 TCW Emerging Markets Income Fund P 2014-11-07 2014-12-22
b Vanguard Short Tern Investmment Grade Adm P 2014-08-06 2014-08-06
c Federated High Yield Bond Fund P 2013-06-28 2014-08-06
d Ishares SP Mid Cap 400/Barra Growth P 2013-04-16 2014-11-05
e Ishares SP Mid Cap 400 Value ETF P 2013-04-16 2014-11-05
Ishares SP Small Cap 600 Growth ETF P 2013-04-16 2014-11-05
Ishares SP Small Cap 600 Value ETF P 2013-04-16 2014-11-05
JP Morgan Chase Co Alerian MLP Index P 2013-04-16 2014-11-05
TCW Emerging Markets Income Fund P 2013-06-28 2014-12-22
Vanguard Reit Index Adm P 2013-04-16 2014-11-05
Vanguard Short Tern Investmment Grade Adm P 2013-04-16 2014-06-02
Vanguard Short Tern Investmment Grade Adm P 2013-04-16 2014-11-05
Deere Co 6.95 4/25/14 P 2004-05-24 2014-04-25
Ishares Core SP 500 ETF P 2010-12-15 2014-11-05
Ishares SP 500 Value ETF P 2010-12-15 2014-11-05
ISHares SP 500 /Barra Growth P 2010-12-15 2014-11-05
Ishares SP Mid Cap 400/Barra Growth P 2013-04-16 2014-11-05
Ishares SP Mid Cap 400 Value ETF P 2004-05-03 2014-11-05
Ishares SP Small Cap 600 Growth ETF P 2004-05-17 2014-11-05
Ishares Small Cap 600 Value P 2004-05-17 2014-11-05
Short Term Investment Grade P 2010-12-15 2014-11-05
(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 7,147   7,500 -353
b 59,833   60,000 -167
c 113,529   112,500 1,029
d 6,409   5,118 1,291
e 875   684 191
17,524   13,194 4,330
11,490   8,712 2,778
6,232   5,605 627
108,570   125,000 -16,430
5,000   4,621 379
30,000   30,111 -111
94,099   94,889 -790
50,000   50,000  
233,925   143,595 90,330
18,384   11,728 6,656
30,237   17,957 12,280
17,039   6,517 10,522
27,140   12,076 15,064
6,481   2,361 4,120
11,490   4,923 6,567
51,069   51,212 -143
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       -353
b       -167
c       1,029
d       1,291
e       191
      4,330
      2,778
      627
      -16,430
      379
      -111
      -790
       
      90,330
      6,656
      12,280
      10,522
      15,064
      4,120
      6,567
      -143
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 2 138,170
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 -520
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 236,607 4,443,064 000.053253
2012 212,340 4,212,852 000.050403
2011 192,262 4,207,788 000.045692
2010 182,210 3,582,152 000.050866
2009 202,046 4,311,447 000.046863
2 Total of line 1, column (d) ...................... 2 000.247077
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. . . 		3 000.049415
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 4,796,280
5 Multiply line 4 by line 3....................... 5 237,008
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,373
7 Add lines 5 and 6......................... 7 239,381
8 Enter qualifying distributions from Part XII, line 4.............. 8 258,372
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 2,373
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 2,373
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 2,373
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 1,030
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.............. Part VI Line 7 - Tax Paid with the Original Return: 1030 7 1,030
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 1,343
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
 
 
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 addressbulletWWW.HEED.ORG
    14
    The books are in care ofbulletThe PrivateBank Trustee Telephone no.bullet (312) 564-3924
    Located atbullet120 South LaSalle Street 7th FloorChicagoIL ZIP+4bullet60603
    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
     
    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
     
    No
    .........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
    The PrivateBank Trustee
    002.00     		32,343    
    120 South LaSalle St 7th Floor
    Chicago,IL60603
    Froncie A Gutman MD Executive Secretary
    002.00     		23,304    
    33700 Old Kinsman Road
    Chagrin Falls,OH44022
    Eduardo C Alfonso MD Officer
    002.00     		0    
    900 NW 17 Street
    Miami,FL33136
    Stephen D McLeod MD Officer
    002.00     		0    
    10 Koret Way K-301
    San Francisco,CA94143
    Joan W Miller MD Officer
    002.00     		0    
    243 Charles Street
    Boston,MA02114
    Nicholas J Volpe MD Officer
    002.00     		0    
    645 N Michigan Av Suite 440
    Chicago,IL60611
    David Wilson MD Officer
    002.00     		0    
    3375 SW Terwilliger Blvd
    Portland,OR97239
    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
     
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
     
    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 NONE 0
    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 NONE  
    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
    4,858,301
    b
    Average of monthly cash balances.......................
    1b
    11,019
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,869,320
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    4,869,320
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) Click to see attachment.............................
    4
    73,040
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,796,280
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    239,814
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    239,814
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    2,373
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,373
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    237,441
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    237,441
    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
    237,441
    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 Click to see attachment..........
    1a
    258,372
    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
    258,372
    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
    2,373
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    255,999
    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 7 237,441
    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....... 24,832
    b From 2010.......  
    c From 2011.......  
    d From 2012....... 4,866
    e From 2013....... 16,500
    fTotal of lines 3a through e......... 46,198
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 258,372
    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..... 237,441
    e Remaining amount distributed out of corpus 20,931
    5 Excess distributions carryover applied to 2014.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 67,129
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		24,832
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		42,297
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012.... 4,866
    d Excess from 2013.... 16,500
    e Excess from 2014.... 20,931
    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:
    Heed Ophthalmic Fdn attn Lisa Brown
    655 Beach Street
    San Francisco,CA94109
    (415) 447-0249
    bThe form in which applications should be submitted and information and materials they should include:
    Application forms are available via the web at WWW.HEED.ORG
    cAny submission deadlines:
    January 15th for fellowships starting in July of that year
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    See attached statement for line 2d
    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
    John Chen MD PhD
    2054 Plaen View Drive
    Iowa City,IA52246     		None I Education 4,170
    Ramez Haddadin MD
    9 Hawthorne Place Apt 11J
    Boston,MA02152     		None I Education 4,170
    Cecily Hamill MD PhD
    36 Sagamore Ave
    Winthrop,MA02152     		None I Education 4,170
    Wei Huang MD PhD
    2713 Ashland Drive
    Durham,NC27704     		None I Education 4,170
    Mary Catherine Whitman MD PhD
    66 Winchester St Apt 402
    Brookline,MA02446     		None I Education 4,170
    Jesse Berry MD
    710 Mira Monte Place
    Pasadena,CA91101     		None I Education 4,170
    Rajen Desai MD
    355 E Ohio St 4810
    Chicago,IL60611     		None I Education 4,170
    Samuel Houston MD
    200 W Washington Square 1501
    Philadelphia,PA19106     		None I Education 4,170
    Nahyoung Grace Lee MD
    101 Canal Street 427
    Boston,MA02114     		None I Education 4,170
    John Miller MD
    1 Emerson Place
    Boston,MA02114     		None I Education 4,170
    Bobeck Modjtahedi MD
    2 Hawthorne Place Apt 4G
    Boston,MA02114     		None I Education 4,170
    Yannis Paulus MD
    1115 William Street
    Baltimore,MD21230     		None I Education 4,170
    Duna Raoof-Daneshvar MD
    3167 Otter Creek Court
    Ann Arbor,MI48105     		None I Education 4,170
    Ian Pitha-Rowe MD PhD
    310 Kerneway
    Baltimore,MD21212     		None I Education 4,170
    Deepika Shah MD PhD
    250 West 93rd Street Unit 20A
    New York,NY10025     		None I Education 4,170
    Hilary Brader MD
    249 S 7th Street
    Philadelphia,PA19106     		None I Education 5,838
    David Fleischman MS MS
    1252 Fairmouth Court
    Chapel Hill,NC27517     		None I Education 5,838
    Devon Ghodasra MD
    3013 Barclay Way
    Ann Arbor,MI48105     		None I Education 5,838
    Brian Hafler MD PhD
    36 Symphony Rd Apt 4A
    Boston,MA02115     		None I Education 5,838
    Sumit Sharma MD
    216 Mount Evans Drive
    Durham,NC27705     		None I Education 5,838
    Yoshihiro Yonekawa MD
    1653 Cole Street
    Birmingham,MI48009     		None I Education 5,838
    Jeremy Hwang MD PhD
    8237 Cornerstone Way
    Elkridge,MD21075     		None I Education 5,838
    Allison Loh MD
    1400 NW Marshall St Apt 222
    Portland,OR97209     		None I Education 5,838
    Shivali Agnani Menda MD
    433 SE 30th Ave
    Portland,OR97214     		None I Education 5,838
    Grace Richter MD MpH
    1421 Elkgrove Circle Unit 3
    Venice,CA90291     		None I Education 5,838
    Mira Sachdeva MD PhD
    8 Whitaker Place 7D
    Boston,MA02114     		None I Education 5,838
    Daniel Sand MD
    P O Box 131341
    Ann Arbor,MI48113     		None I Education 5,838
    Simon Bababeygy MD
    3400 Avenue of the Arts Apt E212
    Costa Mesa,CA92626     		None I Education 5,838
    Garrick Chak MD
    16268 Elza Drive
    Hacienda Heights,CA91745     		None I Education 5,838
    Michael Seider MD
    713 Cross Timbers Drive
    Durham,NC27713     		None I Education 5,838
    Ehsan Rahimy MD
    834 Chestnut Street Apt 1208
    Philadelphia,PA19107     		None I Education 5,838
    Total .................................bullet 3a 155,958
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 1  
    4 Dividends and interest from securities....     14 133,169  
    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 .............     		    18 138,170  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aOther Income     14 30,020  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   301,360  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13301,360
    (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.)
    1 Not Applicable
    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: 14000292
    Software Version: 14.4.1.0
    Part VI Line 7 - Tax Paid with the Original Return: 1,030


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accountant Fee 1,000     1,000

    TY 2014 AllOthProgRltdInvestmentsSch
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Category Amount
    NONE  

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

    TY 2014 GainLossSaleOtherAssetsSch
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    TCW Emerging Markets Income Fund 2014-11 P 2014-12   7,147 7,500     -353  
    Vanguard Short Tern Investmment Grade Adm 2014-08 P 2014-08   59,833 60,000     -167  
    Federated High Yield Bond Fund 2013-06 P 2014-08   113,529 112,500     1,029  
    Ishares SP Mid Cap 400/Barra Growth 2013-04 P 2014-11   6,409 5,118     1,291  
    Ishares SP Mid Cap 400 Value ETF 2013-04 P 2014-11   875 684     191  
    Ishares SP Small Cap 600 Growth ETF 2013-04 P 2014-11   17,524 13,194     4,330  
    Ishares SP Small Cap 600 Value ETF 2013-04 P 2014-11   11,490 8,712     2,778  
    JP Morgan Chase Co Alerian MLP Index 2013-04 P 2014-11   6,232 5,605     627  
    TCW Emerging Markets Income Fund 2013-06 P 2014-12   108,570 125,000     -16,430  
    Vanguard Reit Index Adm 2013-04 P 2014-11   5,000 4,621     379  
    Vanguard Short Tern Investmment Grade Adm 2013-04 P 2014-06   30,000 30,111     -111  
    Vanguard Short Tern Investmment Grade Adm 2013-04 P 2014-11   94,099 94,889     -790  
    Deere Co 6.95 4/25/14 2004-05 P 2014-04   50,000 50,000        
    Ishares Core SP 500 ETF 2010-12 P 2014-11   233,925 143,595     90,330  
    Ishares SP 500 Value ETF 2010-12 P 2014-11   18,384 11,728     6,656  
    ISHares SP 500 /Barra Growth 2010-12 P 2014-11   30,237 17,957     12,280  
    Ishares SP Mid Cap 400/Barra Growth 2013-04 P 2014-11   17,039 6,517     10,522  
    Ishares SP Mid Cap 400 Value ETF 2004-05 P 2014-11   27,140 12,076     15,064  
    Ishares SP Small Cap 600 Growth ETF 2004-05 P 2014-11   6,481 2,361     4,120  
    Ishares Small Cap 600 Value 2004-05 P 2014-11   11,490 4,923     6,567  
    Short Term Investment Grade 2010-12 P 2014-11   51,069 51,212     -143  

    TY 2014 GeneralExplanationAttachment
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Identifier Return Reference Explanation

    TY 2014 InvestmentsOtherSchedule2
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PVTB Wealthmgmt MM 1   132,711 132,711
    General Electric Cap Corp 6.9 9/15/15   50,945 52,268
    Bank of America Corp 7.75 8/15/2015   51,539 52,060
    IShares SP Preferred Stock   162,104 169,592
    JP Morgan Core Bond Fund   283,328 281,471
    Vanguard Intermediate Tern Inv Gr Adm   280,000 277,460
    Vanguard Short Term Inv Gr Adm   476,915 475,583
    IShares Core SP Index ETF   746,124 1,246,392
    IShares SP 500 Growth Index   71,829 122,760
    IShares SP 500 Value Index   77,695 124,245
    IShares SP Midcap 400 Growth Index   62,784 175,637
    IShares SP Midcap 400 Value Index   73,120 175,766
    IShares SP 600 Value Index   52,917 126,786
    IShares SP Smallcap 600 Growth Index   44,808 125,450
    IShares MSCI EAFE Index Fund   391,719 469,989
    JP Morgan Chase Co Alerian MLP Index Etn   184,892 225,155
    Vanguard REIT Index Signal Shares   147,539 246,331
    Federated High Yield Bond Fund   111,500 111,840
    Vanguard FTSE Emerging Markets ETF Vipes   156,581 161,081
    FPA New Income Inc   121,000 119,830

    TY 2014 OtherExpensesSchedule
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Illinois filing fee 15     15
    Bank fees 56 56    
    Web expense 1,192     1,192


    TY 2014 OtherIncomeSchedule2
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Misc Income 20    
    Retreat Sponsorship from Research to Prevent Blindness 15,000    
    Retreat Sponsorship from American Ophthalmological Society 15,000    


    TY 2014 OtherIncreasesSchedule
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Description Amount
       
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    San Francisco Association for Administrative Services 9,000 9,000    


    TY 2014 TaxesSchedule
    Name:
    The Heed Ophthalmic Foundation 1045000111
    EIN: 36-6012426
    Software ID:14000292
    Software Version:14.4.1.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    2013 Federal tax 1,042     1,042
    2014 Federal estimated tax 1,030     1,030
    Foreign taxes paid on dividends and interest   1,706