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
TRUST FUNDS INCORPORATED
 

Number and street (or P.O. box number if mail is not delivered to street address)100 BROADWAY THIRD FLOOR   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SAN FRANCISCO, CA94111
A Employer identification number

94-6062952
B Telephone number (see instructions)

(415) 434-3323
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$8,770,883J 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 194 194  
4 Dividends and interest from securities...... 97,997 97,997  
5a Gross rents.............. 391,029 391,029  
b Net rental income or (loss) 310,103
6a Net gain or (loss) from sale of assets not on line 10 121,552
b Gross sales price for all assets on line 6a 1,170,831
7 Capital gain net income (from Part IV, line 2)... 121,552
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........ 610,772 610,772  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 52,460 5,596   37,972
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 4,950 495   3,465
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 17,935 16,142   897
c Other professional fees (attach schedule).... Click to see attachment 32,858 32,858    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,125 408    
19 Depreciation (attach schedule) and depletion... Click to see attachment 20,185 20,185  
20 Occupancy.............. 12,000 1,200   8,400
21 Travel, conferences, and meetings....... 4,298 256   3,546
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 65,069 62,888   1,717
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 214,880 140,028   55,997
25 Contributions, gifts, grants paid........ 387,600 387,600
26 Total expenses and disbursements. Add lines 24 and 25 602,480 140,028   443,597
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 8,292
b Net investment income (if negative, enter -0-) 470,744
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............... 18,692 2,062 2,062
2 Savings and temporary cash investments.......... 610,172 143,731 143,731
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...........   6,093 6,093
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 2,499,398 Click to see attachment2,988,361 3,357,174
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet1,128,327
Less: accumulated depreciation (attach schedule) bullet473,114 665,908 Click to see attachment655,213 5,259,356
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet2,346
Less: accumulated depreciation (attach schedule) bullet   2,346 Click to see attachment2,346 235
15 Other assets (describe bullet)   Click to see attachment2,232 Click to see attachment2,232
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,796,516 3,800,038 8,770,883
Liabilities 17 Accounts payable and accrued expenses.......... 9,585 1,969
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) Click to see attachment35,371 Click to see attachment38,217
23 Total liabilities (add lines 17 through 22).......... 44,956 40,186
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......... 3,348,099 3,348,099
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 403,461 411,753
30 Total net assets or fund balances (see instructions)...... 3,751,560 3,759,852
31 Total liabilities and net assets/fund balances (see instructions).. 3,796,516 3,800,038
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 3,751,560
2 Enter amount from Part I, line 27a..................... 2 8,292
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 3,759,852
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 3,759,852
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 CAPITAL GAINS DIVIDENDS P 2000-12-31 2014-12-31
b PROCEEDS FROM LITIGATION P 2000-12-31 2014-12-31
c .34 UNITED SECURITY BANCSHARES CALIF P 2014-01-22 2014-01-22
d 10 BANK OF AMERICA CORP P 2013-10-16 2014-01-10
e 7 WALGREEN COMPANY P 2013-10-16 2014-01-18
10 CONOCOPHILLIPS P 2013-10-16 2014-02-22
200 INTERNATIONAL BUSINESS MACHINE CORP P 2014-01-10 2014-03-20
300 STRATEGIC HOTEL 8.5% PFD REITS-HOTELS P 2013-12-23 2014-04-03
100 STRATEGIC HOTEL 8.5% PFD REITS-HOTELS P 2013-12-23 2014-04-03
100 STRATEGIC HOTEL 8.5% PFD REITS-HOTELS P 2013-12-23 2014-04-03
500 STRATEGIC HOTEL 8.5% PFD REITS-HOTELS P 2014-01-10 2014-04-03
.5 UNITED SECURITY BANCSHARES CALIF P 2014-04-23 2014-04-23
4 VISA INC CLASS A P 2014-01-10 2014-05-06
.66 UNITED SECURITY BANCSHARES CALIF P 2014-07-23 2014-07-23
7 EXXON MOBILE CORP P 2014-05-06 2014-07-19
152 CATERPILLAR INC P 2014-01-10 2014-09-29
48 CATERPILLAR INC P 2014-01-10 2014-09-29
200 CHEVRON CORPORATION P 2014-07-21 2014-09-30
200 CONOCOPHILLIPS P 2014-07-09 2014-09-30
5446.623 EATON VANCE FLOATING RATE FUND CLASS I P 2013-12-18 2014-09-30
4 VISA INC CLASS A P 2014-05-06 2014-09-20
434.737 PIMCO INVT GRADE CORP CLASS I P 2013-12-12 2014-10-01
117.026 PIMCO INVT GRADE CORP CLASS I P 2013-12-12 2014-10-01
.82 UNITED SECURITY BANCSHARES CALIF P 2014-10-22 2014-10-22
200 CHEVRON CORPORATION P 2014-04-29 2014-12-16
2764.977 COLUMBIA FDS SER TR II MASS EMERGING MKT P 2012-12-04 2014-02-07
200 EXXON MOBILE CORP P 2012-09-13 2014-02-03
150 EXXON MOBILE CORP P 2012-12-07 2014-02-03
6629.834 VIRTUS EMERGING MARKETS OPPORT FND CL I P 2013-01-16 2014-02-07
300 SAFEWAY INC NEW P 2011-08-31 2014-03-07
2000 SAFEWAY INC NEW P 2011-03-11 2014-03-07
200 SAFEWAY INC NEW P 2011-08-31 2014-03-07
700 ROYAL DUTCH SHELL PLC ADR CL A P 2011-02-17 2014-03-20
1000 STRATEGIC HOTEL 8.5% PFD REITS-HOTELS P 2013-03-05 2014-04-03
LEHMAN BROS HLDGS P 1997-08-19 2014-04-03
300 CONOCOPHILLIPS P 2011-12-08 2014-07-16
700 CONOCOPHILLIPS P 2012-06-21 2014-07-16
7894 DELAWARE DELCHESTER HIGH CORPBD FD I P 2012-07-09 2014-07-18
879 JPMORGAN MID CAP VALUE FUND CL I P 2012-11-27 2014-07-18
500 BRISTOL MYERS SQUIBB CO P 2013-03-28 2014-08-08
240 FRONTIER COMMUNICATIONS CORP P 2008-10-30 2014-08-08
240 FRONTIER COMMUNICATIONS CORP P 2009-04-03 2014-08-08
120 FRONTIER COMMUNICATIONS CORP P 2009-05-29 2014-08-08
200 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
200 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
100 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
100 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
100 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
100 FRONTIER COMMUNICATIONS CORP P 2011-02-01 2014-08-08
600 FRONTIER COMMUNICATIONS CORP P 2011-03-03 2014-08-08
200 JPMORGAN CHASE & CO P 2010-12-23 2014-08-08
200 CATERPILLAR INC P 2013-03-05 2014-09-29
300 CONOCOPHILLIPS P 2012-06-21 2014-09-24
300 CONOCOPHILLIPS P 2012-06-29 2014-09-24
3755.459 COLUMBIA FDS SER TR II MASS EMERGING MKT P 2012-12-04 2014-09-15
8000 OPPENHEIMER SENIOR FLOATING RATE FD CL Y P 2013-03-21 2014-09-30
150 ROYAL DUTCH SHELL PLC ADR CL A P 2011-02-17 2014-09-30
500 OPPENHEIMER DISCOVERY FD CL Y P 2013-01-16 2014-10-01
4545.455 PIMCO INVT GRADE CORP CLASS I P 2012-07-09 2014-10-01
48.849 PIMCO INVT GRADE CORP CLASS I P 2012-12-13 2014-10-01
44.090 PIMCO INVT GRADE CORP CLASS I P 2012-12-13 2014-10-01
9596.929 PIMCO INVT GRADE CORP CLASS I P 2013-09-16 2014-10-01
4752.852 PIMCO INVT GRADE CORP CLASS I P 2013-09-19 2014-10-01
LEHMAN BROS HLDGS P 1997-08-19 2014-10-02
(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 36,497     36,497
b 14     14
c 2     2
d 189   760 -571
e 273     273
530     530
37,546   37,445 101
7,500   7,260 240
2,500   2,421 79
2,500   2,424 76
12,500   12,165 335
3     3
1,536   24 1,512
4     4
182     182
15,048   13,718 1,330
4,749   4,332 417
23,770   26,083 -2,313
15,233   17,238 -2,005
49,128   50,000 -872
304     304
4,643   4,478 165
1,249   1,205 44
4     4
20,721   25,269 -4,548
30,000   35,032 -5,032
18,046   18,233 -187
13,535   13,236 299
60,000   68,619 -8,619
11,518   5,548 5,970
76,779   45,774 31,005
7,678   3,699 3,979
49,877   49,397 480
25,000   22,875 2,125
641     641
24,875   16,486 8,389
58,043   37,454 20,589
48,232   48,706 -474
33,253   24,735 8,518
24,512   20,545 3,967
1,508   1,949 -441
1,508   2,093 -585
754   938 -184
1,257   1,647 -390
1,257   1,647 -390
628   823 -195
628   823 -195
628   823 -195
628   823 -195
3,770   4,296 -526
11,231   8,407 2,824
19,792   18,142 1,650
23,290   16,052 7,238
23,290   16,649 6,641
43,000   47,582 -4,582
66,080   66,960 -880
11,409   10,585 824
38,300   32,840 5,460
48,545   50,000 -1,455
522   546 -24
471   493 -22
102,495   100,000 2,495
50,760   50,000 760
466     466
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       36,497
b       14
c       2
d       -571
e       273
      530
      101
      240
      79
      76
      335
      3
      1,512
      4
      182
      1,330
      417
      -2,313
      -2,005
      -872
      304
      165
      44
      4
      -4,548
      -5,032
      -187
      299
      -8,619
      5,970
      31,005
      3,979
      480
      2,125
      641
      8,389
      20,589
      -474
      8,518
      3,967
      -441
      -585
      -184
      -390
      -390
      -195
      -195
      -195
      -195
      -526
      2,824
      1,650
      7,238
      6,641
      -4,582
      -880
      824
      5,460
      -1,455
      -24
      -22
      2,495
      760
      466
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 2 121,552
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 -4,708
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 305,409 8,436,815 0.03620
2012 308,836 8,067,132 0.03828
2011 485,721 8,524,520 0.05698
2010 436,454 8,287,894 0.05266
2009 415,662 8,137,514 0.05108
2 Total of line 1, column (d) ...................... 2 0.23520
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 0.04704
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 8,642,053
5 Multiply line 4 by line 3....................... 5 406,531
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 4,707
7 Add lines 5 and 6......................... 7 411,238
8 Enter qualifying distributions from Part XII, line 4.............. 8 443,597
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 4,707
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 4,707
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 4,707
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 10,800
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 10,800
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,093
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet6,093 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
 
No
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)
    bulletCA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJAMES T HEALY Telephone no.bullet (415) 434-3323
    Located atbullet100 BROADWAY THIRD FLOORSAN FRANCISCOCA ZIP+4bullet941111431
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    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
     
    No
    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
     
    No
    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
    JAMES T HEALY President
    20.00     		44,460 2,280  
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    THOMAS F KUBASAK CFO
    4.00     		3,000    
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    JOAN C O'ROURKE Director
    2.00     		2,000    
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    THOMAS J KELLEY Director
    2.00     		1,500    
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    JOHN STRAIN Secretary
    2.00     		1,500    
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    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  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    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
    3,096,557
    b
    Average of monthly cash balances.......................
    1b
    417,510
    c
    Fair market value of all other assets (see instructions)................
    1c
    5,259,591
    d
    Total (add lines 1a, b, and c).........................
    1d
    8,773,658
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    8,773,658
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    131,605
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    8,642,053
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    432,103
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    432,103
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    4,707
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,707
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    427,396
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    427,396
    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
    427,396
    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
    443,597
    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
    443,597
    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
    4,707
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    438,890
    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 7 427,396
    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....... 897
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 897
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 443,597
    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).........     		0
    d Applied to 2014 distributable amount..... 427,396
    e Remaining amount distributed out of corpus 16,201
    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 17,098
    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) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		17,098
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011.... 897
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014.... 16,201
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAMES T HEALY PRESIDENT
    100 BROADWAY THIRD FLOOR
    SAN FRANCISCO,CA941111431
    (415) 434-3323
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FORM FOR CATHOLIC ELEMENTARY SCHOOLS - GRANTS FOR SPECIFIC PURPOSES SUCH AS TEXTBOOKS, AUDIO-VISUAL EQUIPMENT, RELIGIOUS EDUCATION MATERIAL, COMPUTERS, SOFTWARE, CLASSROOM FURNITURE, AS WELL AS SPECIFIC DATA ABOUT THE SCHOOL. A DIFFERENT APPLICATION FORM IS REQUIRED FROM OTHER APPLICANTS REQUESTING A COMPREHENSIVE DESCRIPTION OF THE NEED AND SPECIFIC DATA OF THE APPLICANTS ORGANIZATION.
    cAny submission deadlines:
    QUARTERLY DEADLINES FOR APPLICATION SUBMISSIONS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SAN FRANCISCO BAY AREA AND CATHOLIC CHARITIES ARE FAVORED.
    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
    OUR LADY OF THE VISITACION SCHOOL
    785 SUNNYDALE AVENUE
    SAN FRANCISCO,CA94134     		N/A PUB CHRTY LAPTOP COMPUTERS 10,000
    JESUIT VOLUNTEER CORPS
    801 SAINT PAUL STREET
    BALTIMORE,MD21202     		N/A PUB CHRTY SUPPORT OF ONE VOLUNTEER 5,000
    ST EDWARD SCHOOL
    5788 THORNTON AVENUE
    NEWARK,CA94560     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    CATHOLIC CHARITIES CYO
    180 HOWARD STREET SUITE 100
    SAN FRANCISCO,CA94105     		N/A PUB CHRTY CANAL FAMILY SUPPORT SERVICES 5,000
    HOLY FAMILY DAY HOME
    299 DOLORES STREET
    SAN FRANCISCO,CA94103     		N/A PUB CHRTY TUITION ASSISTANCE 7,500
    ST JOSEPH NOTRE DAME HIGH SCHOOL
    1011 CHESTNUT STREET
    ALAMEDA,CA94501     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST MARY OF THE ANGELS CATHOLIC SCHO
    991 S DORA
    UKIAH,CA95482     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    CARE THROUGH TOUCH INSTITUTE
    PO BOX 420427
    SAN FRANCISCO,CA94142     		N/A PUB CHRTY MASSAGE THERAPY FOR HOMELESS PERSONS 8,000
    DOMINICAN SISTERS OF MISSION SAN JO
    43326 MISSION BLVD
    FREMONT,CA94539     		N/A PUB CHRTY EMERGENCY EVACUATION EQUIPMENT 6,500
    FIRST RESORT
    1933 DAVIS STREET SUITE 220-B
    SAN LEANDRO,CA94577     		N/A PUB CHRTY COUNSELING SERVICES 10,000
    JOANNE PANG FOUNDATION
    PO BOX 320636
    SAN FRANCISCO,CA94132     		N/A PUB CHRTY CORD BLOOD DONATION PROGRAM 5,000
    LITTLE BROTHERS FRIENDS OF THE ELDE
    909 HYDE STREET SUITE 628
    SAN FRANCISCO,CA94109     		N/A PUB CHRTY PROGRAMMATIC CAPACITY BUILDING 5,000
    GAAP-GENERAL ASSISTANCE ADVOCACY PR
    276 GOLDEN GATE AVENUE
    SAN FRANCISCO,CA94102     		N/A PUB CHRTY ADVOCACY SERVICES TO NEEDY 5,000
    UNIVERSITY OF SAN FRANCISCO
    2130 FULTON STREET
    SAN FRANCISCO,CA94117     		N/A PUB CHRTY CHILD AND FAMILY COUNSELING 5,000
    CATHOLIC CHARITIES OF THE EAST BAY
    433 JEFFERSON STREET
    OAKLAND,CA94607     		N/A PUB CHRTY FAMILY LITERACY PROGRAM 7,500
    SOCIETY OF ST VINCENT DE PAUL-SAN M
    50 NORTH B STREET
    SAN MATEO,CA94401     		N/A PUB CHRTY FAMILY RESOURCE CENTER 10,000
    THE MARIANISTS
    618 CRESTMOOR DRIVE
    SAN JOSE,CA95129     		N/A PUB CHRTY CUPERTINO CARE CENTER 10,000
    ST BRENDAN SCHOOL
    940 LAGUNA HONDA
    SAN FRANCISCO,CA94127     		N/A PUB CHRTY TECHNOLOGY PROJECT 2,000
    OUR LADY OF PERPETUAL HELP SCHOOL
    80 WELLINGTON AVENUE
    DALY CITY,CA94014     		N/A PUB CHRTY TEXTBOOKS & TECHNOLOGY 8,000
    ST JOHN THE BAPTIST SCHOOL
    11156 SAN PABLO AVENUE
    EL CERRITO,CA94530     		N/A PUB CHRTY TEXTBOOKS & LIBRARY MATERIALS 5,000
    ST RAPHAEL SCHOOL
    1100 FIFTH AVENUE
    SAN RAFAEL,CA94901     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    JUNIPERO SERRA HIGH SCHOOL
    451 WEST 20TH AVENUE
    SAN MATEO,CA94403     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    ST ELIZABETH'S DAY HOME
    950 ST ELIZABETH DRIVE
    SAN JOSE,CA95126     		N/A PUB CHRTY TUITION ASSISTANCE 5,000
    WEST CONTRA COSTA SALESIAN BOYS GIR
    2801 MORAN AVENUE
    RICHMOND,CA94804     		N/A PUB CHRTY COMPUTER EQUIPMENT 5,000
    MISSION DOLORES ACADEMY
    3371 - 16TH STREET
    SAN FRANCISCO,CA94114     		N/A PUB CHRTY TUITION ASSISTANCE 6,000
    SAN FRANCISCO RONALD MCDONALD HOUSE
    1640 SCOTT STREET
    SAN FRANCISCO,CA94115     		N/A PUB CHRTY CHILD'S BEDSIDE PROGRAM 1,000
    ST CHARLES BORROMEO SCHOOL
    3250 - 18TH STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    MERCY RETIREMENT CARE CENTER
    3431 FOOTHILL BLVD
    OAKLAND,CA94601     		N/A PUB CHRTY CARE AND SUPPORT OF NEEDY RESIDENTS 7,500
    ST ANTHONY-IMMACULATE CONCEPTION SC
    299 PRECITA AVENUE
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY EXPAND TECHNOLOGY MATERIALS 10,000
    ST JAMES SCHOOL
    321 FAIR OAKS
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY NEW COMPUTERS FOR TECH. LAB 10,000
    FE Y VIDA
    1737 WEST BENJAMIN HOLT DRIVE
    STOCKTON,CA95207     		N/A PUB CHRTY EVANGELIZATION OF YOUTH 11,500
    FESCO-FAMILY EMERGENCY SHELTER COAL
    21455 BIRCH STREET 5
    HAYWARD,CA94541     		N/A PUB CHRTY SUPPORT FOR GENERAL OPERATIONS 10,000
    THE GUBBIO PROJECT-ST BONIFACE CHUR
    133 GOLDEN GATE AVENUE
    SAN FRANCISCO,CA94102     		N/A PUB CHRTY SHELTER AND CARE OF HOMELESS PERSONS 15,000
    ST ELIZABETH ELEMENTARY SCHOOL
    1516 - 33RD AVENUE
    OAKLAND,CA94601     		N/A PUB CHRTY SPECIAL NEEDS PROGRAM FOR STUDENTS 10,000
    HOLY FAMILY PARRISH
    1051 NORTH DAVIS AVENUE
    WEED,CA96094     		N/A PUB CHRTY FIRE VICTIMS' RELIEF 15,000
    MOST HOLY REDEEMER CHURCH
    100 DIAMOND STREET
    SAN FRANCISCO,CA94114     		N/A PUB CHRTY SOUND SYSTEM FOR HEARING IMPAIRED 6,300
    CARONDELET HIGH SCHOOL
    1133 WINTON DRIVE
    CONCORD,CA94518     		N/A PUB CHRTY PORTABLE SOUND SYSTEM 8,300
    MERCY HIGH SCHOOL
    3250 - 19TH AVENUE
    SAN FRANCISCO,CA94132     		N/A PUB CHRTY TUITION ASSISTANCE PROGRAM 10,000
    NATIONAL INSTITUTE OF FAMILY LIFE A
    5610 SOUTHPOINT CENTER BLVD 103
    FREDERICKSBURG,VA22407     		N/A PUB CHRTY IMPLEMENTATION TO LICENSED MEDICAL CLINIC 9,500
    DOMINICAN UNIVERSITY OF CALIFORNIA
    50 ACACIA AVENUE
    SAN RAFAEL,CA94901     		N/A PUB CHRTY TUTORING PROGRAM FOR YOUTH 3,000
    ST LAWRENCE ACADEMY
    2000 LAWRENCE COURT
    SANTA CLARA,CA95051     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    POOR CLARE MONASTERY IMMACULATE HEA
    28210 NATOMA ROAD
    LOS ALTOS HILLS,CA94022     		N/A PUB CHRTY GENERAL ASSISTANCE 5,000
    ST JOSEPH'S MONASTERY OF POOR CLARE
    PO BOX 160
    APTOS,CA95001     		N/A PUB CHRTY GENERAL ASSISTANCE 5,000
    JUAN DIEGO WOMEN'S CENTER
    12 NORTH WHITE ROAD SUITE 5
    SAN JOSE,CA95127     		N/A PUB CHRTY GENERAL ASSISTANCE 5,000
    CARE THROUGH TOUCH INSTITUTE
    PO BOX 420427
    SAN FRANCISCO,CA94142     		N/A PUB CHRTY GENERAL ASSISTANCE 5,000
    ALPHA PREGNANCY CENTER
    5070 MISSION STREET
    SAN FRANCISCO,CA94112     		N/A PUB CHRTY GENERAL ASSISTANCE 5,000
    ST VINCENT DE PAUL SOCIETY CONFEREN
    2555 - 17TH AVENUE
    SAN FRANCISCO,CA94116     		N/A PUB CHRTY SERVICES TO VICTIMS OF DOMESTIC VIOLENCE, AND FOOD & CLOTHING FOR THE NEEDY 10,000
    ST ELIZABETH HIGH SCHOOL
    1530 - 34TH AVENUE
    OAKLAND,CA94601     		N/A PUB CHRTY TUITION ASSISTANCE 10,000
    OUR LADY OF GUADALUPE SCHOOL
    40374 FREMONT BLVD
    FREMONT,CA94538     		N/A PUB CHRTY TUITION ASSISTANCE 5,000
    ST PETER CATHOLIC SCHOOL
    1266 FLORIDA STREET
    SAN FRANCISCO,CA94110     		N/A PUB CHRTY TUITION ASSISTANCE 5,000
    ST MARTIN DE PORRES SCHOOL
    1630 - 10TH STREET
    OAKLAND,CA94607     		N/A PUB CHRTY TUITION ASSISTANCE 5,000
    Total .................................bullet 3a 387,600
    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 ............     		    14 194  
    4 Dividends and interest from securities....     14 97,997  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 310,103  
    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 36,511 85,041
    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)..   444,805 85,041
    13Total. Add line 12, columns (b), (d), and (e)..................
    13529,846
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID: 14000265
    Software Version: 2014v5.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 17,935 16,142 0 897

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

    TY 2014 DepreciationSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    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
    BUILDING 1974-05-01 114,181 111,376 SL 40.0000 2,805 2,805    
    ROOF 2000-10-01 27,370 9,301 SL 39.0000 702 702    
    STORE FRONT 2001-08-23 32,538 10,290 SL 39.0000 834 834    
    STORE INTERIOR RENOVATION 2005-05-26 10,556 8,605 SL 10.0000 1,056 1,056    
    STORE INTERIOR RENOVATION 2006-04-19 26,900 19,347 SL 10.0000 2,690 2,690    
    PARTITIONS & ELECTRICAL 2007-07-01 141,496 45,987 SL 20.0000 7,075 7,075    
    BUILDING 1983-11-01 168,781 168,118 SL 40.0000 663 663    
    BUILDING IMPROVEMENTS 2008-07-01 164,206 23,155 SL 39.0000 4,210 4,210    
    CARPET UNIT #330 2014-11-01 4,500   SL 5.0000 150 150    

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BRISTOL MYERS SQUIBB CO 36,064 59,030
    AMERICAN EUROPACIFIC GROWTH FU CL F2 87,822 113,491
    HENDERSON GLOBAL FDS INTERN'L OPPT CL I 72,130 85,815
    MFS TOTAL RETURN FD CL I 77,573 95,077
    MFS SER TR V INTL NEW DISCOVERY FD CL I 30,629 50,371
    UNITED SECURITY BANCSHARES CALIF 6,261 9,271
    WELLS FARGO COMPANY 915 1,425
    FRONTIER COMMUNICATIONS CORP 43,569 60,030
    GOLDMAN SACHS SMALL CAP VALUE FUND INST 73,823 90,205
    JPMORGAN CHASE & CO 76,613 112,644
    CONOCOPHILLIPS 92,308 96,684
    ROYAL DUTCH SHELL PLC ADR CL A 31,755 30,127
    VISA INC CLASS A 74,052 131,100
    BANK OF AMERICA CORP 51,094 89,450
    EXXON MOBIL CORP 74,334 69,337
    DELAWARE DELCHESTER HIGH CORP BD FD-I 106,351 107,635
    COLUMBIA FDS SER TR II MASS EMERG MARKET 102,331 93,940
    MFS SER TR I VALUE FD CL I 32,199 47,294
    JPMORGAN MID CAP VALUE FUND CL I 65,181 80,046
    SUNSTONE HOTEL 8% PFD INVS INC CUM PER 30,909 32,538
    CATERPILLAR INC 19,242 18,306
    STRATEGIC HOTELS & RESORTS INC 11,994 19,845
    SUNSTONE HOTEL INVESTORS INC 18,159 24,765
    WALGREENS BOOTS ALLIANCE INC 55,495 76,200
    EATON VANCE FLOATING RATE FUND CL I 100,000 97,431
    GABELLI EQUITY SER FD SML CAP GROWTH FD 63,698 81,601
    IVY FDS INC CORE EQUITY FD CL I 67,704 68,686
    OPPENHEIMER SENIOR FLOATING RATE FD CL Y 73,040 70,597
    OPPENHEIMER DISCOVERY FD CL Y 40,681 45,207
    VIRTUS EMERGING MARKETS OPPORT FND CL I 173,296 176,740
    PRUDENTIAL JENNISON MID-CAP GROWTH FND 120,167 133,509
    STR HOTELS & RESORTS 8.25% CUM PERP PFD 36,864 37,515
    CHEVRON CORPORATION 109,949 100,962
    COSTCO WHSL CORP NEW 28,591 28,350
    HEALTH CARE REIT INC 93,077 113,505
    VENTAS INC 96,358 107,550
    FEDERATED INVT SER FDS INC BD FD INSTL 383,000 378,302
    TEMPLETON INCOME TR GLOBAL BD FD ADVISOR 180,382 169,199
    THORNBURG INC TR LTD TERM INC FD CL I 100,000 99,554
    QWEST CORP 7.5% PFD 50,751 53,840

    TY 2014 InvestmentsLandSchedule2
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Buildings 752,268 473,114 279,154 4,883,297
    Land 376,059   376,059 376,059

    TY 2014 LandEtcSchedule2
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Machinery and Equipment 2,346   2,346 235


    TY 2014 OtherAssetsSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    X DATE DIVIDENDS   2,232 2,232


    TY 2014 OtherExpensesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ATTNY GENERAL'S REGISTRY CHARITABLE TR 75     75
    OFFICE EXPENSE 2,318 232   1,622
    OFFICERS & DIRECTORS LIABILITY INSURANCE 1,915 1,915    
    Rental Expenses 60,741 60,741    
    SECRETARY OF STATE 20     20


    TY 2014 OtherLiabilitiesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS 35,371 38,217


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVISOR FEES ON SECURITIES 32,858 32,858 0 0


    TY 2014 TaxesSchedule
    Name:
    TRUST FUNDS INCORPORATED
    EIN: 94-6062952
    Software ID:14000265
    Software Version:2014v5.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX ON INVESTMENT INCOME 4,707      
    FOREIGN TAX WITHHELD ON INV INC 408 408    
    FRANCHISE TAX BOARD FILING FEE 10