Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
PREMIER COMMUNICATIONS FOUNDATION
C/O MUTUAL TELEPHONE COMPANY

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 200   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SIOUX CENTER, IA51250
A Employer identification number

42-1358494
B Telephone number (see instructions)

(712) 722-3451
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$4,576,790J 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).............. 31,500
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 12,775 12,775  
4 Dividends and interest from securities...... 120,213 120,213  
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 189,929
b Gross sales price for all assets on line 6a 967,704
7 Capital gain net income (from Part IV, line 2)... 22,758
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 917    
12 Total. Add lines 1 through 11........ 355,334 155,746  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 34,838 34,838    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 26      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 34,864 34,838   0
25 Contributions, gifts, grants paid........ 248,750 248,750
26 Total expenses and disbursements. Add lines 24 and 25 283,614 34,838   248,750
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 71,720
b Net investment income (if negative, enter -0-) 120,908
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............... 250 1,435 1,434
2 Savings and temporary cash investments.......... 615,886 446,932 446,932
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) 75,000 75,000 75,360
b Investments—corporate stock (attach schedule)........ 2,945,715 Click to see attachment3,197,181 4,001,335
c Investments—corporate bonds (attach schedule)........ 59,773 Click to see attachment47,796 51,729
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
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) 3,696,624 3,768,344 4,576,790
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................... 3,696,624 3,768,344
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)...... 3,696,624 3,768,344
31 Total liabilities and net assets/fund balances (see instructions).. 3,696,624 3,768,344
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 3,696,624
2 Enter amount from Part I, line 27a..................... 2 71,720
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 3,768,344
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 3,768,344
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.)
1a
b
c
d
e
(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
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 22,758
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 284,447 4,211,233 0.067545
2012 213,250 3,855,216 0.055315
2011 232,499 3,880,019 0.059922
2010 179,300 3,689,526 0.048597
2009 178,306 2,855,228 0.062449
2 Total of line 1, column (d) ...................... 2 0.293828
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 0.058766
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 4,497,847
5 Multiply line 4 by line 3....................... 5 264,320
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,209
7 Add lines 5 and 6......................... 7 265,529
8 Enter qualifying distributions from Part XII, line 4.............. 8 248,750
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 2,418
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 2,418
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 2,418
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 840
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.............. 7 840
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 1,578
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIA
    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 ofbulletDOUGLAS BOONE Telephone no.bullet (712) 722-3451
    Located atbulletMUTUAL TELEPHONE COMPANYSIOUX CENTERIA ZIP+4bullet51250
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    DAVID KRAHLING DIRECTOR
    1.00     		0 0 0
    483 13TH ST CIRCLE SE
    483 13TH ST CIRCLE SE
    SIOUX CENTER,IA51250
    DOUGLAS BOONE TREASURER
    1.00     		0 0 0
    339 1ST AVE NE
    339 1ST AVE NE
    SIOUX CENTER,IA51250
    JIM MOUW DIRECTOR
    1.00     		0 0 0
    566 13TH ST CIRCLE SE
    566 13TH ST CIRCLE SE
    SIOUX CENTER,IA51250
    TED HENGEVELD DIRECTOR
    1.00     		0 0 0
    223 19TH ST SE
    223 19TH ST SE
    SIOUX CENTER,IA51250
    JOHN KOERSELMAN DIRECTOR
    1.00     		0 0 0
    103 SOUTH MAIN
    103 SOUTH MAIN
    SIOUX CENTER,IA51250
    HOWARD BEERNINK PRESIDENT
    1.00     		0 0 0
    1908 4TH AVE SE
    1908 4TH AVE SE
    SIOUX CENTER,IA51250
    OWEN DYKSHORN VICE PRESIDE
    1.00     		0 0 0
    563 N MEADOW DR
    563 N MEADOW DR
    SIOUX CENTER,IA51250
    GLEN VERMEER SECRETARY
    1.00     		0 0 0
    533 7TH ST NW
    533 7TH ST NW
    SIOUX CENTER,IA51250
    MICHAEL D MCALPINE DIRECTOR
    1.00     		0 0 0
    1574 4TH AVE SE
    1574 4TH AVE SE
    SIOUX CENTER,IA51250
    CHAD FEENSTRA DIRECTOR
    1.00     		0 0 0
    1556 6TH AVE CIRCLE SE
    1556 6TH AVE CIRCEL SE
    SIOUX CENTER,IA51250
    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 N/A  
    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
    4,296,789
    b
    Average of monthly cash balances.......................
    1b
    269,553
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,566,342
    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
    4,566,342
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    68,495
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,497,847
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    224,892
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    224,892
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    2,418
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,418
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    222,474
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    222,474
    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
    222,474
    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
    248,750
    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
    248,750
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    248,750
    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 7 222,474
    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....... 15,859
    b From 2010.......  
    c From 2011.......  
    d From 2012....... 23,031
    e From 2013....... 75,491
    fTotal of lines 3a through e......... 114,381
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 248,750
    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..... 222,474
    e Remaining amount distributed out of corpus 26,276
    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 5 140,657
    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) ...     		15,859
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		124,798
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012.... 23,031
    d Excess from 2013.... 75,491
    e Excess from 2014.... 26,276
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ATLAS
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 5,000
    CENTER FOR FINANCIAL EDUC
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 4,000
    DORDT - OTHER
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 30,000
    DORDT - SCHOLARSHIPS
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) SCHOLARSHIPS 22,000
    FAMILY CRISIS CENTER
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 5,000
    HOPE HAVEN
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 3,000
    JUSTICE FOR ALL
    LOCAL
    ROCK VALLEY,IA51247     		N/A 501 (C)(3) GENERAL FUND 3,000
    NORTHWEST IOWA SYMPHONY
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 4,000
    BETHANY CHRISTIAN SERVICES
    LOCAL
    ORANGE CITY,IA51041     		N/A 501(C)(3) GENERAL FUND 2,000
    NORTHWESTERN COLLEGE
    LOCAL
    ORANGE CITY,IA51041     		N/A 501 (C)(3) SCHOLARSHIPS 22,000
    SIOUX CENTER CHRISTIAN SC
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 20,000
    SIOUX CENTER COMMUNITY HI
    LOCAL
    SIOUX CENTER,IA51250     		N/A GOVERNMENT GENERAL FUND 5,000
    SIOUX CENTER COMMUNITY HO
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 50,000
    SIOUX CENTER EMT'S
    LOCAL
    SIOUX CENTER,IA51250     		N/A GOVERNMENT GENERAL FUND 2,500
    SIOUX CENTER MIDDLE SCHOO
    LOCAL
    SIOUX CENTER,IA51250     		N/A GOVERNMENT GENERAL FUND 5,000
    AKRON PUBLIC SCHOOLS
    LOCAL
    AKRON,IA51001     		N/A GOVERNMENT COMM BETTERMENT 1,000
    BOYDEN COMM FOUNDATION
    LOCAL
    BOYDEN,IA51234     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    DOON PROTESTANT REFORMED
    LOCAL
    DOON,IA51235     		N/A 501 (C)(3) COMM BETTERMENT 500
    FLOYD VALLEY HOSPITAL
    LOCAL
    LE MARS,IA51031     		N/A 501 (C)(3) COMM BETTERMENT 10,000
    GRANVILLE CATHOLIC SCHOOL
    LOCAL
    GRANVILLE,IA51022     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    GEORGE COMM FOUNDATION
    LOCAL
    GEORGE,IA51237     		N/A GOVERNMENT COMM BETTERMENT 1,000
    HINTON PUBLIC SCHOOL
    LOCAL
    HINTON,IA51024     		N/A GOVERNMENT COMM BETTERMENT 1,000
    BOYDEN-HULL SCHOOLS TECH
    LOCAL
    HULL,IA51239     		N/A GOVERNMENT COMM BETTERMENT 2,000
    HULL CHRISTIAN SCHOOL
    LOCAL
    HULL,IA51239     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    HULL PROTESTANT REFORMED
    LOCAL
    HULL,IA51239     		N/A 501 (C)(3) COMM BETTERMENT 500
    WESTERN CHRISTIAN
    LOCAL
    HULL,IA51239     		N/A 501 (C)(3) COMM BETTERMENT 10,000
    GEORGE LITTLE ROCK PUBLIC
    LOCAL
    GEORGE,IA51237     		N/A GOVERNMENT COMM BETTERMENT 1,000
    ROCK VALLEY CHRISTIAN SCH
    LOCAL
    ROCK VALLEY,IA51247     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    ROCK VALLEY NETHERLANDS
    LOCAL
    ROCK VALLEY,IA51247     		N/A 501 (C) (3) COMM BETTERMENT 500
    ROCK VALLEY PUBLIC SCHOOL
    LOCAL
    ROCK VALLEY,IA51247     		N/A GOVERNMENT COMM BETTERMENT 2,000
    UNITY CHRISTIAN
    LOCAL
    ORANGE CITY,IA51041     		N/A 501 (C)(3) COMM BETTERMENT 2,000
    LE MARS PUBLIC
    LOCAL
    LE MARS,IA51031     		N/A GOVERNMENT COMM BETTERMENT 2,000
    GEHLEN
    LOCAL
    LE MARS,IA51031     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    IRETON CHRISTIAN SCHOOL
    LOCAL
    IRETON,IA51027     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    ROTARY CLUB OF RVFOSTER
    LOCAL
    ROCK VALLEY,IA51247     		N/A 501 (C)(3) COMM BETTERMENT 250
    CENTRAL LYON SCHOOL FOUND
    LOCAL
    CENTRAL LYON,IA52214     		N/A 501 (C)(3) COMM BETTERMENT 1,000
    GRANVILLE FIRE DEPARTMENT
    LOCAL
    GRANVILLE,IA51022     		N/A GOVERNMENT COMM BETTERMENT 5,000
    HULL CITY PROJECTS
    LOCAL
    HULL,IA51239     		N/A GOVERNMENT COMM BETTERMENT 5,000
    SC COMM FOUND VETERAN'S MEMORIAL
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 5,000
    AKRON CARE CENTER
    LOCAL
    AKRON,IA51001     		N/A 501 (C)(3) COMM BETTERMENT 2,000
    MOC SCHOOL DISTRICT
    LOCAL
    ORANGE CITY,IA51041     		N/A GOVERNMENT COMM BETTERMENT 2,000
    SC FIRE DEPARTMENT
    LOCAL
    SIOUX CENTER,IA51250     		N/A GOVERNMENT GENERAL FUND 2,500
    SC HABITAT FOR HUMANITY
    LOCAL
    SIOUX CENTER,IA51250     		N/A 501 (C)(3) GENERAL FUND 2,000
    HEGG MEMORIAL HEALTH CENTER
    LOCAL
    ROCK VALLEY,IA51247     		N/A GOVERNMENT COMM BETTERMENT 1,000
    SANBORN CHRISTIAN
    LOCAL
    SANBORN,IA51248     		N/A GOVERNMENT COMM BETTERMENT 1,000
    Total .................................bullet 3a 248,750
    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 ............     		        12,775
    4 Dividends and interest from securities....         120,213
    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 .............     		        189,929
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aEXCISE TAX REFUND         917
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..     323,834
    13Total. Add line 12, columns (b), (d), and (e)..................
    13323,834
    (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.)
    3 INTEREST AND DIVIDENDS EARNED ON INVESTMENTS WILL BE THE
    4 PRIMARY SOURCE FROM WHICH FUNDS WILL BE DISBURSED FOR CHARITABLE PURPOSES
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    Employer identification number

    42-1358494
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY         		Employer identification number

    42-1358494
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    MUTUAL TELEPHONE COMPANY
     

       
    339 1ST AVENUE NE
     
    SIOUX CENTER, IA51250

    		$31,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY         		Employer identification number

    42-1358494
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY         		Employer identification number

    42-1358494
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

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

    TY 2014 AmortizationSchedule
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
    BOND AMORTIZATION     6   26     32

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    TY 2014 GainLossSaleOtherAssetsSch
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    CITIGROUP CAP TRUST CLD 2003-08 PURCHASE 2014-04   12,125 11,951     174  
    ACTAVIS PLC SHS 2014-07 PURCHASE 2014-11   4,085 3,659     426  
    ACTAVIS PLC SHS 2014-07 PURCHASE 2014-11   4,922 4,089     833  
    ADOBE SYS DEL PV 0.001 2014-02 PURCHASE 2014-11   3,932 3,743     189  
    AFFILIATED MANAGERS GRP 2009-05 PURCHASE 2014-11   4,011 1,128     2,883  
    AFFILIATED MANAGERS GRP 2009-05 PURCHASE 2014-11   2,403 677     1,726  
    AMAZON COM INC COM 2012-01 PURCHASE 2014-11   3,107 1,821     1,286  
    AMERICAN TOWER REIT INC 2014-03 PURCHASE 2014-11   2,988 2,461     527  
    ANADARKO PETE CORP 2012-10 PURCHASE 2014-01   1,933 1,668     265  
    ANADARKO PETE CORP 2012-07 PURCHASE 2014-01   2,658 2,320     338  
    ANADARKO PETE CORP 2011-12 PURCHASE 2014-01   1,128 1,104     24  
    ANADARKO PETE CORP 2011-10 PURCHASE 2014-01   2,578 2,519     59  
    ANADARKO PETE CORP 2011-03 PURCHASE 2014-01   2,497 2,490     7  
    APPLE INC 2013-02 PURCHASE 2014-11   2,998 1,785     1,213  
    AVAGO TECHNOLOGIES LTD 2011-11 PURCHASE 2014-11   2,953 1,129     1,824  
    AVAGO TECHNOLOGIES LTD 2011-11 PURCHASE 2014-11   8,541 3,156     5,385  
    BOEING COMPANY 2012-10 PURCHASE 2014-08   4,406 2,586     1,820  
    BOEING COMPANY 2012-07 PURCHASE 2014-08   2,739 1,660     1,079  
    BOEING COMPANY 2012-07 PURCHASE 2014-08   13,814 8,637     5,177  
    BORG WARNER INC COM 2010-08 PURCHASE 2014-11   2,987 1,234     1,753  
    BORG WARNER INC COM 2010-08 PURCHASE 2014-11   3,340 1,303     2,037  
    CABOT OIL & GAS CORP 2014-01 PURCHASE 2014-11   3,028 3,028        
    CATERPILLAR INC DEL 2012-06 PURCHASE 2014-11   2,989 2,473     516  
    CITRIX SYSTEMS INC COM 2013-05 PURCHASE 2014-02   12,547 14,449     -1,902  
    COGNIZANT TECH SOLUTNS A 2012-08 PURCHASE 2014-08   13,289 9,576     3,713  
    COSTCO WHOLESALE CRP DEL 2009-09 PURCHASE 2014-11   3,972 1,678     2,294  
    COVIDIEN PLC SHS NEW 2013-01 PURCHASE 2014-07   1,091 662     429  
    COVIDIEN PLC SHS NEW 2011-12 PURCHASE 2014-07   4,817 2,129     2,688  
    COVIDIEN PLC SHS NEW 2011-02 PURCHASE 2014-07   4,363 2,188     2,175  
    COVIDIEN PLC SHS NEW 2009-11 PURCHASE 2014-07   6,817 3,205     3,612  
    COVIDIEN PLC SHS NEW 2009-11 PURCHASE 2014-07   3,181 1,419     1,762  
    DANAHER CORP DEL COM 2014-08 PURCHASE 2014-11   3,960 3,558     402  
    DANAHER CORP DEL COM 2014-08 PURCHASE 2014-11   669 593     76  
    DICKS SPORTING GOODS INC 2011-06 PURCHASE 2014-11   2,992 2,292     700  
    DISCOVERY COMMUNICATN 2011-12 PURCHASE 2014-06   1,817 1,036     781  
    DISCOVERY COMMUNICATN 2011-02 PURCHASE 2014-06   2,617 1,548     1,069  
    DISCOVERY COMMUNICATN 2008-10 PURCHASE 2014-06   6,760 1,098     5,662  
    DISNEY (WALT) CO COM STK 2014-06 PURCHASE 2014-11   2,966 2,771     195  
    EBAY INC COM 2013-07 PURCHASE 2014-02   11,728 12,121     -393  
    EXPRESS SCRIPTS HLDG CO 2011-09 PURCHASE 2014-11   2,956 1,755     1,201  
    FEDEX CORP DELAWARE COM 2011-03 PURCHASE 2014-11   3,953 2,029     1,924  
    FEDEX CORP DELAWARE COM 2011-03 PURCHASE 2014-11   4,363 2,206     2,157  
    GILEAD SCIENCES INC COM 2013-01 PURCHASE 2014-11   3,319 1,280     2,039  
    GILEAD SCIENCES INC COM 2013-01 PURCHASE 2014-05   9,826 4,732     5,094  
    GILEAD SCIENCES INC COM 2013-01 PURCHASE 2014-11   2,997 1,086     1,911  
    GILEAD SCIENCES INC COM 2013-01 PURCHASE 2014-12   9,286 3,840     5,446  
    GOLDMAN SACHS GROUP INC 2012-12 PURCHASE 2014-03   11,798 8,567     3,231  
    GOOGLE INC CL A 2008-10 PURCHASE 2014-11   1,642 508     1,134  
    GOOGLE INC CL A 2008-10 PURCHASE 2014-11   558 169     389  
    GOOGLE INC CL A 2008-03 PURCHASE 2014-11   2,792 1,144     1,648  
    GOOGLE INC SHS CL C 2013-01 PURCHASE 2014-04   1,059 716     343  
    GOOGLE INC SHS CL C 2012-07 PURCHASE 2014-04   1,589 854     735  
    GOOGLE INC SHS CL C 2008-10 PURCHASE 2014-04   2,119 675     1,444  
    GOOGLE INC SHS CL C 2008-03 PURCHASE 2014-04   2,648 1,140     1,508  
    HONEYWELL INTL INC DEL 2008-10 PURCHASE 2014-11   196 68     128  
    HONEYWELL INTL INC DEL 2006-08 PURCHASE 2014-11   98 39     59  
    HONEYWELL INTL INC DEL 2006-07 PURCHASE 2014-11   392 155     237  
    HONEYWELL INTL INC DEL 2006-06 PURCHASE 2014-11   1,471 580     891  
    HONEYWELL INTL INC DEL 2005-03 PURCHASE 2014-11   2,910 1,142     1,768  
    HONEYWELL INTL INC DEL 2005-03 PURCHASE 2014-11   98 38     60  
    MONDELEZ INTERNATIONAL 2014-05 PURCHASE 2014-11   3,982 3,980     2  
    MONSANTO CO NEW DEL COM 2011-02 PURCHASE 2014-11   2,379 1,491     888  
    MONSANTO CO NEW DEL COM 2009-09 PURCHASE 2014-11   595 395     200  
    NOBLE ENERGY INC 2013-01 PURCHASE 2014-11   2,990 2,880     110  
    PIONEER NATURAL RES CO 2013-05 PURCHASE 2014-11   3,066 2,477     589  
    PIONEER NATURAL RES CO 2013-05 PURCHASE 2014-12   6,944 6,606     338  
    PIONEER NATURAL RES CO 2013-05 PURCHASE 2014-11   2,103 1,652     451  
    PRECISION CASTPARTS 2013-09 PURCHASE 2014-11   679 680     -1  
    PRECISION CASTPARTS 2013-09 PURCHASE 2014-11   3,396 3,396        
    SALESFORCE COM INC 2009-05 PURCHASE 2014-11   2,991 440     2,551  
    SCHLUMBERGER LTD 2013-11 PURCHASE 2014-11   2,926 2,785     141  
    THERMO FISHER SCIENTIFIC 2012-05 PURCHASE 2014-05   9,805 4,694     5,111  
    THERMO FISHER SCIENTIFIC 2012-05 PURCHASE 2014-11   3,916 1,866     2,050  
    TWITTER INC 2014-08 PURCHASE 2014-11   2,979 3,471     -492  
    VMWARE, INC. 2014-02 PURCHASE 2014-11   3,977 3,977        
    WHOLE FOODS MKT INC COM 2013-01 PURCHASE 2014-05   2,349 2,695     -346  
    WHOLE FOODS MKT INC COM 2012-10 PURCHASE 2014-05   470 595     -125  
    WHOLE FOODS MKT INC COM 2011-12 PURCHASE 2014-05   2,662 2,321     341  
    WHOLE FOODS MKT INC COM 2011-06 PURCHASE 2014-05   5,832 4,208     1,624  
    ZOETIS INC 2013-09 PURCHASE 2014-11   3,013 2,170     843  
    ZOETIS INC 2013-09 PURCHASE 2014-12   1,870 1,333     537  
    ZOETIS INC 2013-09 PURCHASE 2014-11   2,393 1,705     688  
    HIGHWOODS PPTYS INC 2013-11 PURCHASE 2014-01   217 492     -275  
    HIGHWOODS PPTYS INC 2013-11 PURCHASE 2014-01   434 709     -275  
    HCP INC 2013-04 PURCHASE 2014-01   153 207     -54  
    HCP INC 2012-11 PURCHASE 2014-01   384 444     -60  
    HCP INC 2012-10 PURCHASE 2014-01   1,918 2,225     -307  
    HCP INC 2012-10 PURCHASE 2014-01   537 633     -96  
    HCP INC 2012-02 PURCHASE 2014-01   806 859     -53  
    HIGHWOODS PPTYS INC 2013-11 PURCHASE 2014-01   430 442     -12  
    HIGHWOODS PPTYS INC 2013-11 PURCHASE 2014-01   2,367 2,416     -49  
    HIGHWOODS PPTYS INC 2013-11 PURCHASE 2014-01   215 220     -5  
    VORNADO REALTY TRUST COM 2010-11 PURCHASE 2014-01   183 164     19  
    VORNADO REALTY TRUST COM 2010-11 PURCHASE 2014-01   548 532     16  
    AVALONBAY CMMUN INC 2013-04 PURCHASE 2014-01   122 122        
    AVALONBAY CMMUN INC 2013-04 PURCHASE 2014-01   610 667     -57  
    AVALONBAY CMMUN INC 2013-04 PURCHASE 2014-01   244 244        
    AVALONBAY CMMUN INC 2013-04 PURCHASE 2014-01   610 610        
    AVALONBAY CMMUN INC 2013-02 PURCHASE 2014-01   732 732        
    AVALONBAY CMMUN INC 2013-02 PURCHASE 2014-01   366 366        
    AVALONBAY CMMUN INC 2012-11 PURCHASE 2014-01   732 732        
    DIGITAL RLTY TR INC 2013-02 PURCHASE 2014-01   1,139 1,139        
    DIGITAL RLTY TR INC 2013-02 PURCHASE 2014-01   2,227 2,863     -636  
    AMERICAN CAMPUS CMNTYS 2013-08 PURCHASE 2014-01   274 274        
    AMERICAN CAMPUS CMNTYS 2012-11 PURCHASE 2014-01   788 788        
    AMERICAN CAMPUS CMNTYS 2012-10 PURCHASE 2014-01   171 171        
    EQUITY RESIDENTIAL 2010-11 PURCHASE 2014-01   750 701     49  
    RLJ LODGING TRUST 2013-03 PURCHASE 2014-02   362 328     34  
    SIMON PROPERTY GROUP DEL 2011-07 PURCHASE 2014-02   302 238     64  
    SIMON PROPERTY GROUP DEL 2011-06 PURCHASE 2014-02   453 349     104  
    SIMON PROPERTY GROUP DEL 2011-06 PURCHASE 2014-02   1,057 795     262  
    SIMON PROPERTY GROUP DEL 2011-04 PURCHASE 2014-02   755 554     201  
    ALEXANDRIA REAL EST EQTS 2014-01 PURCHASE 2014-02   981 956     25  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   120 120        
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   60 60        
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   812 812        
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   301 301        
    GENERAL GROWTH PROPERTIE 2014-02 PURCHASE 2014-02   2,169 2,207     -38  
    GENERAL GROWTH PROPERTIE 2013-11 PURCHASE 2014-02   2,030 2,119     -89  
    LIBERTY PPTY TR SBI 2013-12 PURCHASE 2014-02   247 240     7  
    LIBERTY PPTY TR SBI 2013-12 PURCHASE 2014-02   986 954     32  
    LIBERTY PPTY TR SBI 2013-12 PURCHASE 2014-02   740 708     32  
    LIBERTY PPTY TR SBI 2013-12 PURCHASE 2014-02   846 808     38  
    LIBERTY PPTY TR SBI 2013-11 PURCHASE 2014-02   916 868     48  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   179 179        
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   596 596        
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-02   328 328        
    NATL HEALTH INVS INC 2012-10 PURCHASE 2014-02   369 318     51  
    NATL HEALTH INVS INC 2012-10 PURCHASE 2014-02   123 106     17  
    STRATEGIC HOTEL CAP INC 2013-06 PURCHASE 2014-02   491 496     -5  
    STRATEGIC HOTEL CAP INC 2013-06 PURCHASE 2014-02   191 190     1  
    UDR INC 2013-02 PURCHASE 2014-02   748 720     28  
    UDR INC 2013-02 PURCHASE 2014-02   1,109 1,013     96  
    UDR INC 2012-07 PURCHASE 2014-02   877 913     -36  
    UDR INC 2012-01 PURCHASE 2014-02   696 700     -4  
    UDR INC 2012-01 PURCHASE 2014-02   2,218 2,060     158  
    VENTAS INC 2012-07 PURCHASE 2014-02   62 66     -4  
    VENTAS INC 2012-07 PURCHASE 2014-02   621 621        
    VENTAS INC 2012-07 PURCHASE 2014-02   62 69     -7  
    VENTAS INC 2012-07 PURCHASE 2014-02   186 186        
    AMERICAN CAMPUS CMNTYS 2012-10 PURCHASE 2014-02   180 216     -36  
    AVALONBAY CMMUN INC 2012-11 PURCHASE 2014-02   643 643        
    DIGITAL RLTY TR INC 2013-03 PURCHASE 2014-02   1,179 1,465     -286  
    NATL HEALTH INVS INC 2013-01 PURCHASE 2014-02   185 182     3  
    NATL HEALTH INVS INC 2013-01 PURCHASE 2014-02   801 778     23  
    NATL HEALTH INVS INC 2012-10 PURCHASE 2014-02   616 530     86  
    PROLOGIS INC 2012-11 PURCHASE 2014-02   41 33     8  
    PROLOGIS INC 2012-10 PURCHASE 2014-02   122 108     14  
    PROLOGIS INC 2013-04 PURCHASE 2014-02   81 81        
    PROLOGIS INC 2013-03 PURCHASE 2014-02   161 156     5  
    PROLOGIS INC 2013-03 PURCHASE 2014-02   1,492 1,460     32  
    PROLOGIS INC 2012-11 PURCHASE 2014-02   484 399     85  
    REGENCY CENTERS CORP 2013-07 PURCHASE 2014-02   1,000 1,007     -7  
    REGENCY CENTERS CORP 2013-06 PURCHASE 2014-02   250 278     -28  
    REGENCY CENTERS CORP 2013-07 PURCHASE 2014-02   1,000 1,007     -7  
    CYRUSONE INC 2013-11 PURCHASE 2014-02   498 461     37  
    CYRUSONE INC 2013-10 PURCHASE 2014-02   152 139     13  
    HCP INC 2013-04 PURCHASE 2014-02   714 984     -270  
    VENTAS INC 2012-07 PURCHASE 2014-02   1,477 1,577     -100  
    VENTAS INC 2012-07 PURCHASE 2014-02   615 611     4  
    VENTAS INC 2012-07 PURCHASE 2014-02   185 198     -13  
    PUBLIC STORAGE 0.10 2010-04 PURCHASE 2014-03   680 383     297  
    PUBLIC STORAGE 0.10 2010-04 PURCHASE 2014-03   340 195     145  
    PUBLIC STORAGE 0.10 2010-03 PURCHASE 2014-03   1,360 736     624  
    PUBLIC STORAGE 0.10 2010-02 PURCHASE 2014-03   510 242     268  
    PUBLIC STORAGE 0.10 2010-01 PURCHASE 2014-03   170 81     89  
    AVALONBAY CMMUN INC 2012-11 PURCHASE 2014-03   128 128        
    EQUITY ONE 2012-09 PURCHASE 2014-03   160 145     15  
    EQUITY ONE 2012-05 PURCHASE 2014-03   46 41     5  
    HCP INC 2013-05 PURCHASE 2014-03   112 161     -49  
    HCP INC 2013-04 PURCHASE 2014-03   1,048 1,451     -403  
    MID AMERICA APT CMNTYS 2013-08 PURCHASE 2014-03   134 123     11  
    NATL HEALTH INVS INC 2013-11 PURCHASE 2014-03   60 58     2  
    NATL HEALTH INVS INC 2013-01 PURCHASE 2014-03   181 181        
    PENN RL EST INV TR 2014-02 PURCHASE 2014-03   841 841        
    PENN RL EST INV TR 2013-10 PURCHASE 2014-03   1,504 1,504        
    PENN RL EST INV TR 2013-05 PURCHASE 2014-03   340 367     -27  
    PENN RL EST INV TR 2013-03 PURCHASE 2014-03   179 187     -8  
    SIMON PROPERTY GROUP DEL 2011-07 PURCHASE 2014-03   162 119     43  
    BRE PPTYS INC MARYLAND A 2014-01 PURCHASE 2014-03   919 860     59  
    BRE PPTYS INC MARYLAND A 2013-12 PURCHASE 2014-03   1,837 1,705     132  
    BRE PPTYS INC MARYLAND A 2013-12 PURCHASE 2014-03   245 230     15  
    ESSEX PPTY TR INC COM 2014-01 PURCHASE 2014-03   330 307     23  
    ESSEX PPTY TR INC COM 2013-12 PURCHASE 2014-03   659 618     41  
    ESSEX PPTY TR INC COM 2013-07 PURCHASE 2014-03   330 344     -14  
    ESSEX PPTY TR INC COM 2013-06 PURCHASE 2014-03   165 155     10  
    ESSEX PPTY TR INC COM 2013-06 PURCHASE 2014-03   494 482     12  
    ESSEX PPTY TR INC COM 2013-06 PURCHASE 2014-03   659 672     -13  
    KIMCO REALTY CORP MD COM 2013-11 PURCHASE 2014-03   3,317 3,123     194  
    KIMCO REALTY CORP MD COM 2013-08 PURCHASE 2014-03   2,350 2,137     213  
    SIMON PROPERTY GROUP DEL 2011-11 PURCHASE 2014-03   159 127     32  
    SIMON PROPERTY GROUP DEL 2011-08 PURCHASE 2014-03   637 459     178  
    SIMON PROPERTY GROUP DEL 2011-08 PURCHASE 2014-03   797 570     227  
    SIMON PROPERTY GROUP DEL 2011-07 PURCHASE 2014-03   478 357     121  
    BROOKFIELD OFFICE 2013-03 PURCHASE 2014-03   861 763     98  
    BROOKFIELD OFFICE 2011-06 PURCHASE 2014-03   134 130     4  
    FDL R INV TR SBI NEW MD 2013-11 PURCHASE 2014-03   1,127 1,054     73  
    DOUGLAS EMMETT INC 2014-01 PURCHASE 2014-04   2,019 1,801     218  
    RLJ LODGING TRUST 2013-07 PURCHASE 2014-04   241 214     27  
    RLJ LODGING TRUST 2013-07 PURCHASE 2014-04   642 566     76  
    RLJ LODGING TRUST 2013-07 PURCHASE 2014-04   776 681     95  
    RLJ LODGING TRUST 2013-04 PURCHASE 2014-04   1,284 1,081     203  
    RLJ LODGING TRUST 2013-03 PURCHASE 2014-04   214 175     39  
    RLJ LODGING TRUST 2013-12 PURCHASE 2014-04   479 430     49  
    RLJ LODGING TRUST 2013-12 PURCHASE 2014-04   1,012 903     109  
    RLJ LODGING TRUST 2013-10 PURCHASE 2014-04   266 252     14  
    RLJ LODGING TRUST 2013-07 PURCHASE 2014-04   160 142     18  
    ACADIA REALTY TRUST 2013-06 PURCHASE 2014-04   1,318 1,322     -4  
    ACADIA REALTY TRUST 2013-06 PURCHASE 2014-04   53 53        
    COMMONWEALTH REIT 2013-03 PURCHASE 2014-04   211 170     41  
    COMMONWEALTH REIT 2013-03 PURCHASE 2014-04   661 563     98  
    DIGITAL RLTY TR INC 2013-05 PURCHASE 2014-04   3,190 3,950     -760  
    DOUGLAS EMMETT INC 2014-01 PURCHASE 2014-04   1,753 1,561     192  
    ACADIA REALTY TRUST 2014-02 PURCHASE 2014-04   290 274     16  
    ACADIA REALTY TRUST 2013-06 PURCHASE 2014-04   184 185     -1  
    COMMONWEALTH REIT 2013-03 PURCHASE 2014-04   473 382     91  
    DOUGLAS EMMETT INC 2014-01 PURCHASE 2014-04   377 336     41  
    CBL & ASSOC PPTYS INC 2013-12 PURCHASE 2014-04   1,283 1,277     6  
    HOST HOTELS & RESORTS 2013-07 PURCHASE 2014-04   1,130 992     138  
    HOST HOTELS & RESORTS 2013-07 PURCHASE 2014-04   699 612     87  
    HEALTH CARE REIT INC COM 2013-05 PURCHASE 2014-04   1,796 2,124     -328  
    HEALTH CARE REIT INC COM 2012-09 PURCHASE 2014-04   867 769     98  
    HEALTH CARE REIT INC COM 2012-08 PURCHASE 2014-04   372 343     29  
    HEALTH CARE REIT INC COM 2012-02 PURCHASE 2014-04   805 661     144  
    AVIV REIT INC MD 2014-04 PURCHASE 2014-04   734 721     13  
    DCT INDUSTRIAL TRUST INC 2013-04 PURCHASE 2014-04   268 250     18  
    DCT INDUSTRIAL TRUST INC 2013-04 PURCHASE 2014-04   433 422     11  
    DUPONT FABROS TECHNOLOGY 2014-04 PURCHASE 2014-04   24 25     -1  
    DUPONT FABROS TECHNOLOGY 2014-04 PURCHASE 2014-04   872 872        
    DUPONT FABROS TECHNOLOGY 2014-04 PURCHASE 2014-04   121 122     -1  
    HCP INC 2013-05 PURCHASE 2014-04   162 214     -52  
    HCP INC 2013-05 PURCHASE 2014-04   1,415 1,415        
    HEALTH CARE REIT INC COM 2013-09 PURCHASE 2014-04   1,296 1,303     -7  
    HEALTH CARE REIT INC COM 2013-05 PURCHASE 2014-04   494 586     -92  
    HOST HOTELS & RESORTS 2013-08 PURCHASE 2014-04   1,194 989     205  
    HOST HOTELS & RESORTS 2013-07 PURCHASE 2014-04   419 361     58  
    HOST HOTELS & RESORTS 2013-07 PURCHASE 2014-04   84 72     12  
    SL GREEN REALTY CORP 2013-10 PURCHASE 2014-04   405 352     53  
    SL GREEN REALTY CORP 2013-08 PURCHASE 2014-04   608 537     71  
    SL GREEN REALTY CORP 2013-06 PURCHASE 2014-04   709 614     95  
    SL GREEN REALTY CORP 2013-01 PURCHASE 2014-04   1,317 1,058     259  
    DUPONT FABROS TECHNOLOGY 2014-04 PURCHASE 2014-04   866 891     -25  
    LTC PROPERTIES INC 2014-02 PURCHASE 2014-04   1,183 1,133     50  
    MACERICH CO 2014-03 PURCHASE 2014-04   649 600     49  
    MACERICH CO 2013-12 PURCHASE 2014-04   390 361     29  
    MACERICH CO 2013-11 PURCHASE 2014-04   844 787     57  
    MACERICH CO 2013-10 PURCHASE 2014-04   7,663 6,879     784  
    SIMON PROPERTY GROUP DEL 2012-03 PURCHASE 2014-04   1,191 959     232  
    SIMON PROPERTY GROUP DEL 2011-11 PURCHASE 2014-04   1,361 1,016     345  
    AMERICAN CAMPUS CMNTYS 2014-01 PURCHASE 2014-04   38 34     4  
    AMERICAN CAMPUS CMNTYS 2013-08 PURCHASE 2014-04   415 382     33  
    AMERICAN CAMPUS CMNTYS 2013-08 PURCHASE 2014-04   302 272     30  
    AMERICAN CAMPUS CMNTYS 2013-08 PURCHASE 2014-04   1,773 1,616     157  
    AMERICAN CAMPUS CMNTYS 2012-11 PURCHASE 2014-04   868 1,013     -145  
    PROLOGIS INC 2013-07 PURCHASE 2014-04   327 311     16  
    PROLOGIS INC 2013-06 PURCHASE 2014-04   2,247 2,090     157  
    PROLOGIS INC 2013-05 PURCHASE 2014-04   572 613     -41  
    PROLOGIS INC 2013-04 PURCHASE 2014-04   613 623     -10  
    PROLOGIS INC 2013-04 PURCHASE 2014-04   82 80     2  
    SIMON PROPERTY GROUP DEL 2012-09 PURCHASE 2014-04   1,193 1,097     96  
    SIMON PROPERTY GROUP DEL 2012-03 PURCHASE 2014-04   1,023 822     201  
    CHESAPEAKE LODGING TR 2013-07 PURCHASE 2014-04   454 366     88  
    FDL R INV TR SBI NEW MD 2013-11 PURCHASE 2014-04   699 633     66  
    HOST HOTELS & RESORTS 2014-02 PURCHASE 2014-04   401 351     50  
    HOST HOTELS & RESORTS 2013-08 PURCHASE 2014-04   2,492 2,047     445  
    PROLOGIS INC 2014-02 PURCHASE 2014-04   163 155     8  
    PROLOGIS INC 2013-08 PURCHASE 2014-04   203 180     23  
    PROLOGIS INC 2013-07 PURCHASE 2014-04   285 282     3  
    PROLOGIS INC 2013-07 PURCHASE 2014-04   488 471     17  
    PROLOGIS INC 2013-07 PURCHASE 2014-04   41 39     2  
    SENIOR HSG PPTYS TRSBI 2014-04 PURCHASE 2014-04   4,003 3,849     154  
    EXTRA SPACE STORAGE INC 2013-11 PURCHASE 2014-05   981 813     168  
    HEALTH CARE REIT INC COM 2014-01 PURCHASE 2014-05   636 557     79  
    HEALTH CARE REIT INC COM 2013-09 PURCHASE 2014-05   509 496     13  
    LTC PROPERTIES INC 2014-02 PURCHASE 2014-05   503 475     28  
    VORNADO REALTY TRUST COM 2013-05 PURCHASE 2014-05   105 87     18  
    VORNADO REALTY TRUST COM 2012-03 PURCHASE 2014-05   1,153 923     230  
    VORNADO REALTY TRUST COM 2012-02 PURCHASE 2014-05   524 423     101  
    VORNADO REALTY TRUST COM 2011-10 PURCHASE 2014-05   838 626     212  
    VORNADO REALTY TRUST COM 2010-12 PURCHASE 2014-05   943 753     190  
    VORNADO REALTY TRUST COM 2010-11 PURCHASE 2014-05   524 409     115  
    CBL & ASSOC PPTYS INC 2014-02 PURCHASE 2014-05   18 16     2  
    CBL & ASSOC PPTYS INC 2013-12 PURCHASE 2014-05   350 345     5  
    CBL & ASSOC PPTYS INC 2013-12 PURCHASE 2014-05   552 540     12  
    BOSTON PPTYS INC 2010-10 PURCHASE 2014-05   718 516     202  
    BOSTON PPTYS INC 2010-10 PURCHASE 2014-05   479 347     132  
    VENTAS INC 2012-07 PURCHASE 2014-05   1,821 1,774     47  
    HERSHA HOSPTLTY TR A SBI 2014-04 PURCHASE 2014-05   2,312 2,135     177  
    HERSHA HOSPTLTY TR A SBI 2014-04 PURCHASE 2014-05   1,292 1,196     96  
    FDL R INV TR SBI NEW MD 2013-11 PURCHASE 2014-05   1,910 1,684     226  
    FDL R INV TR SBI NEW MD 2013-11 PURCHASE 2014-05   239 211     28  
    FDL R INV TR SBI NEW MD 2013-11 PURCHASE 2014-05   1,791 1,582     209  
    VENTAS INC 2013-10 PURCHASE 2014-05   596 560     36  
    VENTAS INC 2013-07 PURCHASE 2014-05   464 464        
    VENTAS INC 2013-07 PURCHASE 2014-05   397 397        
    VENTAS INC 2012-07 PURCHASE 2014-05   397 394     3  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-05   723 688     35  
    MACK CALI REALTY CORP 2013-11 PURCHASE 2014-05   701 635     66  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-05   152 142     10  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-05   326 314     12  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-05   500 480     20  
    HEALTH CARE REIT INC COM 2014-01 PURCHASE 2014-06   1,907 1,666     241  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-06   530 491     39  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-06   1,037 949     88  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-06   441 405     36  
    WASHINGTON PRIME GRP 2014-02 PURCHASE 2014-06   153 147     6  
    WASHINGTON PRIME GRP 2013-12 PURCHASE 2014-06   211 202     9  
    WASHINGTON PRIME GRP 2013-10 PURCHASE 2014-06   153 145     8  
    WASHINGTON PRIME GRP 2013-07 PURCHASE 2014-06   153 157     -4  
    WASHINGTON PRIME GRP 2013-07 PURCHASE 2014-06   57 59     -2  
    WASHINGTON PRIME GRP 2013-07 PURCHASE 2014-06   57 58     -1  
    WASHINGTON PRIME GRP 2013-06 PURCHASE 2014-06   19 20     -1  
    WASHINGTON PRIME GRP 2012-12 PURCHASE 2014-06   77 74     3  
    WASHINGTON PRIME GRP 2012-11 PURCHASE 2014-06   77 73     4  
    WASHINGTON PRIME GRP 2012-09 PURCHASE 2014-06   153 150     3  
    CHESAPEAKE LODGING TR 2013-11 PURCHASE 2014-06   210 164     46  
    CHESAPEAKE LODGING TR 2013-10 PURCHASE 2014-06   719 576     143  
    CHESAPEAKE LODGING TR 2013-07 PURCHASE 2014-06   839 618     221  
    CHESAPEAKE LODGING TR 2013-07 PURCHASE 2014-06   60 43     17  
    DCT INDUSTRIAL TRUST INC 2013-09 PURCHASE 2014-06   370 311     59  
    DCT INDUSTRIAL TRUST INC 2013-08 PURCHASE 2014-06   249 238     11  
    DCT INDUSTRIAL TRUST INC 2013-07 PURCHASE 2014-06   225 207     18  
    DCT INDUSTRIAL TRUST INC 2013-06 PURCHASE 2014-06   145 134     11  
    DCT INDUSTRIAL TRUST INC 2013-04 PURCHASE 2014-06   24 23     1  
    EXTRA SPACE STORAGE INC 2014-03 PURCHASE 2014-06   789 740     49  
    EXTRA SPACE STORAGE INC 2013-12 PURCHASE 2014-06   2,577 2,074     503  
    EXTRA SPACE STORAGE INC 2013-11 PURCHASE 2014-06   684 556     128  
    LA QUINTA HLDGS INC 2014-04 PURCHASE 2014-06   2,047 1,915     132  
    PROLOGIS INC 2014-02 PURCHASE 2014-06   817 775     42  
    MID AMERICA APT CMNTYS 2014-01 PURCHASE 2014-06   855 747     108  
    MID AMERICA APT CMNTYS 2013-08 PURCHASE 2014-06   1,639 1,405     234  
    MID AMERICA APT CMNTYS 2013-08 PURCHASE 2014-06   3,207 2,766     441  
    ALEXANDRIA REAL EST EQTS 2014-01 PURCHASE 2014-06   1,386 1,228     158  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-06   588 613     -25  
    PROLOGIS INC 2014-02 PURCHASE 2014-06   1,203 1,124     79  
    CBL & ASSOC PPTYS INC 2014-02 PURCHASE 2014-06   757 659     98  
    CYRUSONE INC 2014-04 PURCHASE 2014-06   471 424     47  
    GENERAL GROWTH PROPERTIE 2014-04 PURCHASE 2014-06   1,849 1,783     66  
    GLIMCHER REALTY TR SBI 2014-04 PURCHASE 2014-06   260 238     22  
    GLIMCHER REALTY TR SBI 2014-03 PURCHASE 2014-06   2,539 2,256     283  
    DDR CORP COM 2014-03 PURCHASE 2014-06   208 194     14  
    EQUITY ONE 2012-11 PURCHASE 2014-06   610 544     66  
    EQUITY ONE 2012-09 PURCHASE 2014-06   610 534     76  
    NATL HEALTH INVS INC 2013-11 PURCHASE 2014-06   561 524     37  
    NATL HEALTH INVS INC 2013-01 PURCHASE 2014-06   187 185     2  
    PUBLIC STORAGE 0.10 2010-04 PURCHASE 2014-06   170 96     74  
    SUNSTONE HOTEL INVS INC 2013-06 PURCHASE 2014-06   148 121     27  
    SUNSTONE HOTEL INVS INC 2013-06 PURCHASE 2014-06   370 301     69  
    VENTAS INC 2013-10 PURCHASE 2014-06   1,341 1,308     33  
    VENTAS INC 2013-07 PURCHASE 2014-06   447 447        
    VENTAS INC 2013-07 PURCHASE 2014-06   383 383        
    BRIXMOR PPTY GROUP INC 2014-06 PURCHASE 2014-06   910 910        
    CYRUSONE INC 2014-04 PURCHASE 2014-06   543 443     100  
    CYRUSONE INC 2014-04 PURCHASE 2014-06   543 476     67  
    CYRUSONE INC 2014-04 PURCHASE 2014-06   296 267     29  
    HUDSON PAC PPTYS INC 2014-04 PURCHASE 2014-06   251 231     20  
    HUDSON PAC PPTYS INC 2014-04 PURCHASE 2014-06   226 206     20  
    HUDSON PAC PPTYS INC 2014-04 PURCHASE 2014-06   402 366     36  
    SL GREEN REALTY CORP 2014-05 PURCHASE 2014-06   1,417 1,406     11  
    SL GREEN REALTY CORP 2014-04 PURCHASE 2014-06   981 915     66  
    SL GREEN REALTY CORP 2014-04 PURCHASE 2014-06   1,526 1,416     110  
    SL GREEN REALTY CORP 2013-10 PURCHASE 2014-06   109 88     21  
    STRATEGIC HOTELS & 2014-04 PURCHASE 2014-06   2,458 2,266     192  
    PHYSICIANS RLTY TR 2014-05 PURCHASE 2014-07   127 117     10  
    PHYSICIANS RLTY TR 2014-05 PURCHASE 2014-07   523 467     56  
    AMERICAN HOMES 4 RENT 2014-04 PURCHASE 2014-07   1,889 1,679     210  
    EDUCATION REALTY TR INC 2014-04 PURCHASE 2014-07   238 228     10  
    PENN RL EST INV TR 2014-06 PURCHASE 2014-07   192 184     8  
    PENN RL EST INV TR 2014-06 PURCHASE 2014-07   1,154 1,095     59  
    PENN RL EST INV TR 2014-05 PURCHASE 2014-07   808 735     73  
    SABRA HEALTH CARE REIT 2014-05 PURCHASE 2014-07   1,715 1,711     4  
    CBL & ASSOC PPTYS INC 2014-03 PURCHASE 2014-07   951 825     126  
    CBL & ASSOC PPTYS INC 2014-02 PURCHASE 2014-07   357 297     60  
    GENERAL GROWTH PROPERTIE 2014-04 PURCHASE 2014-07   8,184 7,819     365  
    GLIMCHER REALTY TR SBI 2014-04 PURCHASE 2014-07   1,025 922     103  
    VORNADO REALTY TRUST COM 2013-12 PURCHASE 2014-07   215 176     39  
    VORNADO REALTY TRUST COM 2013-08 PURCHASE 2014-07   1,073 844     229  
    VORNADO REALTY TRUST COM 2013-07 PURCHASE 2014-07   858 695     163  
    VORNADO REALTY TRUST COM 2013-06 PURCHASE 2014-07   644 485     159  
    VORNADO REALTY TRUST COM 2013-05 PURCHASE 2014-07   858 679     179  
    VORNADO REALTY TRUST COM 2013-05 PURCHASE 2014-07   858 694     164  
    HIGHWOODS PPTYS INC 2014-04 PURCHASE 2014-07   595 546     49  
    DUKE REALTY CORP 2013-01 PURCHASE 2014-08   689 545     144  
    PS BUSINESS PARKS INC 2014-02 PURCHASE 2014-08   82 83     -1  
    PS BUSINESS PARKS INC 2014-02 PURCHASE 2014-08   411 409     2  
    PS BUSINESS PARKS INC 2014-02 PURCHASE 2014-08   246 250     -4  
    HEALTH CARE REIT INC COM 2014-02 PURCHASE 2014-08   662 563     99  
    HEALTH CARE REIT INC COM 2014-01 PURCHASE 2014-08   927 774     153  
    HCP INC 2013-05 PURCHASE 2014-08   1,160 1,446     -286  
    BRIXMOR PPTY GROUP INC 2014-06 PURCHASE 2014-09   571 546     25  
    DDR CORP COM 2014-03 PURCHASE 2014-09   2,121 1,889     232  
    TANGER FACTORY OUTLT CEN 2014-07 PURCHASE 2014-09   1,225 1,240     -15  
    WASH R E INV TR SBI .01 2014-07 PURCHASE 2014-09   588 562     26  
    BRIXMOR PPTY GROUP INC 2014-06 PURCHASE 2014-09   3,610 3,479     131  
    WASH R E INV TR SBI .01 2014-07 PURCHASE 2014-09   1,232 1,184     48  
    WASH R E INV TR SBI .01 2014-07 PURCHASE 2014-09   336 321     15  
    AVALONBAY CMMUN INC 2012-12 PURCHASE 2014-09   155 129     26  
    EDUCATION REALTY TR INC 2014-04 PURCHASE 2014-09   295 279     16  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-09   300 260     40  
    BOSTON PPTYS INC 2011-04 PURCHASE 2014-09   717 565     152  
    BOSTON PPTYS INC 2010-12 PURCHASE 2014-09   239 174     65  
    BOSTON PPTYS INC 2010-12 PURCHASE 2014-09   120 87     33  
    BOSTON PPTYS INC 2010-10 PURCHASE 2014-09   239 172     67  
    CYRUSONE INC 2014-04 PURCHASE 2014-09   620 484     136  
    HEALTH CARE REIT INC COM 2014-02 PURCHASE 2014-09   264 229     35  
    HEALTH CARE REIT INC COM 2014-02 PURCHASE 2014-09   330 282     48  
    SL GREEN REALTY CORP 2014-05 PURCHASE 2014-09   2,924 2,920     4  
    HCP INC 2013-05 PURCHASE 2014-09   367 482     -115  
    HCP INC 2013-05 PURCHASE 2014-09   572 755     -183  
    GLIMCHER REALTY TR SBI 2014-06 PURCHASE 2014-09   1,075 856     219  
    GLIMCHER REALTY TR SBI 2014-04 PURCHASE 2014-09   1,933 1,418     515  
    GLIMCHER REALTY TR SBI 2014-04 PURCHASE 2014-09   1,280 932     348  
    GLIMCHER REALTY TR SBI 2014-04 PURCHASE 2014-09   136 99     37  
    CYRUSONE INC 2014-06 PURCHASE 2014-09   1,622 1,575     47  
    CYRUSONE INC 2014-04 PURCHASE 2014-09   123 101     22  
    CYRUSONE INC 2014-04 PURCHASE 2014-09   98 81     17  
    HIGHWOODS PPTYS INC 2014-04 PURCHASE 2014-09   1,977 1,922     55  
    HIGHWOODS PPTYS INC 2014-04 PURCHASE 2014-09   1,452 1,402     50  
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-09   410 410        
    VORNADO REALTY TRUST COM 2014-04 PURCHASE 2014-09   615 596     19  
    VORNADO REALTY TRUST COM 2014-03 PURCHASE 2014-09   820 793     27  
    VORNADO REALTY TRUST COM 2013-12 PURCHASE 2014-09   1,742 1,499     243  
    CYRUSONE INC 2014-06 PURCHASE 2014-09   588 573     15  
    DDR CORP COM 2014-03 PURCHASE 2014-09   3,591 3,463     128  
    VENTAS INC 2013-10 PURCHASE 2014-09   186 186        
    VENTAS INC 2013-10 PURCHASE 2014-09   62 62        
    VENTAS INC 2013-10 PURCHASE 2014-09   186 186        
    VENTAS INC 2013-10 PURCHASE 2014-09   186 186        
    VENTAS INC 2013-10 PURCHASE 2014-09   373 373        
    VENTAS INC 2013-10 PURCHASE 2014-09   124 124        
    VENTAS INC 2013-10 PURCHASE 2014-09   186 186        
    VENTAS INC 2013-10 PURCHASE 2014-09   124 124        
    VENTAS INC 2013-07 PURCHASE 2014-09   435 435        
    VENTAS INC 2013-07 PURCHASE 2014-09   373 373        
    APARTMENT INVT & MGMT CO 2014-02 PURCHASE 2014-10   1,407 1,326     81  
    EDUCATION REALTY TR INC 2014-04 PURCHASE 2014-10   964 971     -7  
    EQUITY RESIDENTIAL 2010-11 PURCHASE 2014-10   1,303 1,052     251  
    COUSINS PROPS INC 2013-05 PURCHASE 2014-10   801 694     107  
    STRATEGIC HOTELS & 2014-05 PURCHASE 2014-10   251 240     11  
    STRATEGIC HOTELS & 2014-04 PURCHASE 2014-10   1,017 956     61  
    BOSTON PPTYS INC 2011-12 PURCHASE 2014-10   581 479     102  
    BOSTON PPTYS INC 2011-11 PURCHASE 2014-10   813 694     119  
    BOSTON PPTYS INC 2011-10 PURCHASE 2014-10   581 471     110  
    BOSTON PPTYS INC 2011-04 PURCHASE 2014-10   697 593     104  
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-10   498 498        
    EQUITY RESIDENTIAL 2011-07 PURCHASE 2014-10   633 629     4  
    EQUITY RESIDENTIAL 2010-11 PURCHASE 2014-10   127 100     27  
    HEALTHCARE REALTY TR 2014-08 PURCHASE 2014-10   1,256 1,288     -32  
    PHYSICIANS RLTY TR 2014-05 PURCHASE 2014-10   543 500     43  
    EQUITY RESIDENTIAL 2011-07 PURCHASE 2014-10   662 619     43  
    EQUITY RESIDENTIAL 2011-07 PURCHASE 2014-10   926 881     45  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-10   334 292     42  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-10   243 208     35  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-10   1,427 1,220     207  
    ALEXANDRIA REAL EST EQTS 2014-01 PURCHASE 2014-10   1,322 1,090     232  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-10   315 307     8  
    DUKE REALTY CORP 2014-04 PURCHASE 2014-10   837 793     44  
    DUKE REALTY CORP 2013-12 PURCHASE 2014-10   437 363     74  
    DUKE REALTY CORP 2013-07 PURCHASE 2014-10   109 100     9  
    DUKE REALTY CORP 2013-07 PURCHASE 2014-10   109 99     10  
    DUKE REALTY CORP 2013-06 PURCHASE 2014-10   364 322     42  
    DUKE REALTY CORP 2013-03 PURCHASE 2014-10   327 306     21  
    DUKE REALTY CORP 2013-02 PURCHASE 2014-10   2,165 1,886     279  
    DUKE REALTY CORP 2013-01 PURCHASE 2014-10   528 428     100  
    DUKE REALTY CORP 2013-01 PURCHASE 2014-10   746 588     158  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-10   105 110     -5  
    COUSINS PROPS INC 2014-01 PURCHASE 2014-10   321 265     56  
    COUSINS PROPS INC 2013-09 PURCHASE 2014-10   656 520     136  
    COUSINS PROPS INC 2013-06 PURCHASE 2014-10   399 323     76  
    COUSINS PROPS INC 2013-06 PURCHASE 2014-10   643 501     142  
    COUSINS PROPS INC 2013-05 PURCHASE 2014-10   26 20     6  
    COUSINS PROPS INC 2013-05 PURCHASE 2014-10   39 32     7  
    COUSINS PROPS INC 2013-05 PURCHASE 2014-10   296 240     56  
    COUSINS PROPS INC 2013-05 PURCHASE 2014-10   13 10     3  
    PHYSICIANS RLTY TR 2014-05 PURCHASE 2014-10   539 454     85  
    VENTAS INC 2013-10 PURCHASE 2014-10   405 381     24  
    VENTAS INC 2013-10 PURCHASE 2014-10   202 188     14  
    VENTAS INC 2013-10 PURCHASE 2014-10   1,282 1,183     99  
    VENTAS INC 2013-07 PURCHASE 2014-10   135 135        
    VENTAS INC 2013-07 PURCHASE 2014-10   202 202        
    VENTAS INC 2013-07 PURCHASE 2014-10   67 67        
    VENTAS INC 2013-07 PURCHASE 2014-10   67 67        
    VENTAS INC 2013-07 PURCHASE 2014-10   405 405        
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-10   214 214        
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-10   2,675 2,655     20  
    PROLOGIS INC 2014-05 PURCHASE 2014-11   1,878 1,859     19  
    PROLOGIS INC 2014-03 PURCHASE 2014-11   1,544 1,493     51  
    PROLOGIS INC 2014-02 PURCHASE 2014-11   2,337 2,170     167  
    AMERICAN RLTY CAP 2014-10 PURCHASE 2014-11   2,702 2,687     15  
    EQUITY RESIDENTIAL 2011-09 PURCHASE 2014-11   1,868 1,443     425  
    FDL R INV TR SBI NEW MD 2014-09 PURCHASE 2014-11   4,872 4,632     240  
    FDL R INV TR SBI NEW MD 2014-09 PURCHASE 2014-11   1,580 1,500     80  
    ALEXANDRIA REAL EST EQTS 2014-06 PURCHASE 2014-11   83 77     6  
    ALEXANDRIA REAL EST EQTS 2014-01 PURCHASE 2014-11   332 273     59  
    AMERICAN HOMES 4 RENT 2014-10 PURCHASE 2014-11   121 115     6  
    APARTMENT INVT & MGMT CO 2014-02 PURCHASE 2014-11   769 633     136  
    AVALONBAY CMMUN INC 2013-02 PURCHASE 2014-11   317 248     69  
    AVALONBAY CMMUN INC 2012-12 PURCHASE 2014-11   792 645     147  
    BOSTON PPTYS INC 2012-02 PURCHASE 2014-11   764 643     121  
    CBL & ASSOC PPTYS INC 2014-03 PURCHASE 2014-11   417 378     39  
    CHESAPEAKE LODGING TR 2013-11 PURCHASE 2014-11   440 305     135  
    CORESITE REALTY CORP 2013-10 PURCHASE 2014-11   230 221     9  
    COUSINS PROPS INC 2014-01 PURCHASE 2014-11   152 127     25  
    CYRUSONE INC 2014-10 PURCHASE 2014-11   135 127     8  
    DCT INDUSTRIAL TRUST INC 2014-08 PURCHASE 2014-11   269 254     15  
    DUKE REALTY CORP 2014-11 PURCHASE 2014-11   402 402        
    EDUCATION REALTY TR INC 2014-04 PURCHASE 2014-11   265 237     28  
    EQUITY COMMONWEALTH 2014-10 PURCHASE 2014-11   207 207        
    EQUITY ONE 2012-11 PURCHASE 2014-11   72 63     9  
    EQUITY RESIDENTIAL 2012-01 PURCHASE 2014-11   70 54     16  
    EQUITY RESIDENTIAL 2012-01 PURCHASE 2014-11   491 387     104  
    EQUITY RESIDENTIAL 2011-09 PURCHASE 2014-11   491 374     117  
    FDL R INV TR SBI NEW MD 2014-09 PURCHASE 2014-11   1,190 1,070     120  
    FDL R INV TR SBI NEW MD 2014-09 PURCHASE 2014-11   397 376     21  
    FOREST CITY ENTRPRS CL A 2011-08 PURCHASE 2014-11   105 68     37  
    FOREST CITY ENTRPRS CL A 2010-06 PURCHASE 2014-11   84 50     34  
    HCP INC 2013-05 PURCHASE 2014-11   131 162     -31  
    HEALTH CARE REIT INC COM 2014-02 PURCHASE 2014-11   854 684     170  
    HUDSON PAC PPTYS INC 2014-04 PURCHASE 2014-11   362 300     62  
    KILROY REALTY CORP 2013-08 PURCHASE 2014-11   542 393     149  
    MACERICH CO 2014-07 PURCHASE 2014-11   412 407     5  
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-11   174 174        
    MID AMERICA APT CMNTYS 2014-10 PURCHASE 2014-11   286 265     21  
    NATL HEALTH INVS INC 2013-11 PURCHASE 2014-11   332 290     42  
    PHYSICIANS RLTY TR 2014-05 PURCHASE 2014-11   140 114     26  
    PROLOGIS INC 2014-06 PURCHASE 2014-11   411 411        
    PROLOGIS INC 2014-05 PURCHASE 2014-11   164 164        
    PS BUSINESS PARKS INC 2014-02 PURCHASE 2014-11   165 167     -2  
    PUBLIC STORAGE 0.10 2010-06 PURCHASE 2014-11   187 87     100  
    PUBLIC STORAGE 0.10 2010-05 PURCHASE 2014-11   373 190     183  
    PUBLIC STORAGE 0.10 2010-04 PURCHASE 2014-11   560 287     273  
    RAMCO-GERSHENSON PPTYSBI 2014-04 PURCHASE 2014-11   88 81     7  
    RAMCO-GERSHENSON PPTYSBI 2014-04 PURCHASE 2014-11   298 277     21  
    RETAIL PROPERTIES OF 2014-02 PURCHASE 2014-11   250 217     33  
    REXFORD INDL RLTY INC 2014-08 PURCHASE 2014-11   61 56     5  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-11   448 372     76  
    SABRA HEALTH CARE REIT 2014-09 PURCHASE 2014-11   139 123     16  
    SIMON PROPERTY GROUP DEL 2012-09 PURCHASE 2014-11   1,432 1,179     253  
    SL GREEN REALTY CORP 2014-09 PURCHASE 2014-11   680 632     48  
    SOVRAN SELF STORAGE INC 2014-03 PURCHASE 2014-11   339 303     36  
    STARWOOD HOTELS AND 2014-10 PURCHASE 2014-11   157 157        
    STRATEGIC HOTELS & 2014-05 PURCHASE 2014-11   207 174     33  
    SUNSTONE HOTEL INVS INC 2013-06 PURCHASE 2014-11   579 448     131  
    TANGER FACTORY OUTLT CEN 2014-07 PURCHASE 2014-11   214 212     2  
    TAUBMAN CENTERS INC COM 2014-06 PURCHASE 2014-11   610 600     10  
    VENTAS INC 2013-10 PURCHASE 2014-11   69 67     2  
    VENTAS INC 2013-10 PURCHASE 2014-11   208 202     6  
    VENTAS INC 2013-10 PURCHASE 2014-11   138 134     4  
    VENTAS INC 2013-10 PURCHASE 2014-11   208 203     5  
    VENTAS INC 2013-10 PURCHASE 2014-11   208 203     5  
    VENTAS INC 2013-07 PURCHASE 2014-11   69 73     -4  
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-11   216 225     -9  
    VORNADO REALTY TRUST COM 2014-06 PURCHASE 2014-11   216 222     -6  
    KILROY REALTY CORP 2014-10 PURCHASE 2014-11   538 482     56  
    KILROY REALTY CORP 2014-09 PURCHASE 2014-11   538 503     35  
    KILROY REALTY CORP 2014-07 PURCHASE 2014-11   873 815     58  
    KILROY REALTY CORP 2013-09 PURCHASE 2014-11   672 481     191  
    KILROY REALTY CORP 2013-08 PURCHASE 2014-11   1,277 932     345  
    KILROY REALTY CORP 2013-08 PURCHASE 2014-11   739 544     195  
    KILROY REALTY CORP 2013-08 PURCHASE 2014-11   1,747 1,276     471  
    COUSINS PROPS INC 2014-10 PURCHASE 2014-11   425 421     4  
    COUSINS PROPS INC 2014-07 PURCHASE 2014-11   438 446     -8  
    COUSINS PROPS INC 2014-05 PURCHASE 2014-11   231 223     8  
    COUSINS PROPS INC 2014-04 PURCHASE 2014-11   535 514     21  
    COUSINS PROPS INC 2014-01 PURCHASE 2014-11   243 212     31  
    MACERICH CO 2014-07 PURCHASE 2014-11   1,147 1,016     131  
    MACK CALI REALTY CORP 2014-06 PURCHASE 2014-11   57 57        
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-11   474 474        
    MACK CALI REALTY CORP 2014-04 PURCHASE 2014-11   170 187     -17  
    PARAMOUNT GROUP INC 2014-11 PURCHASE 2014-11   2,841 2,765     76  
    MACERICH CO 2014-07 PURCHASE 2014-12   159 136     23  
    MACERICH CO 2014-07 PURCHASE 2014-12   4,835 4,133     702  
    HEALTH CARE REIT INC COM 2014-05 PURCHASE 2014-12   297 248     49  
    HEALTH CARE REIT INC COM 2014-02 PURCHASE 2014-12   892 684     208  
    RLJ LODGING TRUST 2014-06 PURCHASE 2014-12   1,829 1,614     215  
    RLJ LODGING TRUST 2014-06 PURCHASE 2014-12   2,710 2,307     403  
    RLJ LODGING TRUST 2014-04 PURCHASE 2014-12   653 531     122  
    STRATEGIC HOTELS & 2014-06 PURCHASE 2014-12   395 345     50  
    STRATEGIC HOTELS & 2014-05 PURCHASE 2014-12   1,874 1,601     273  
    CYRUSONE INC 2014-10 PURCHASE 2014-12   551 538     13  
    CYRUSONE INC 2014-10 PURCHASE 2014-12   210 203     7  
    RLJ LODGING TRUST 2014-06 PURCHASE 2014-12   1,045 922     123  
    CYRUSONE INC 2014-10 PURCHASE 2014-12   497 494     3  
    CYRUSONE INC 2014-10 PURCHASE 2014-12   262 256     6  
    APARTMENT INVT & MGMT CO 2014-02 PURCHASE 2014-12   2,638 2,200     438  
    HEALTH CARE REIT INC COM 2014-05 PURCHASE 2014-12   154 124     30  
    HUDSON PAC PPTYS INC 2014-04 PURCHASE 2014-12   447 345     102  
    SL GREEN REALTY CORP 2014-09 PURCHASE 2014-12   5,366 4,638     728  
    SL GREEN REALTY CORP 2014-11 PURCHASE 2014-12   1,218 1,142     76  
    SL GREEN REALTY CORP 2014-10 PURCHASE 2014-12   1,218 1,023     195  
    SL GREEN REALTY CORP 2014-09 PURCHASE 2014-12   2,070 1,792     278  
    RAMCO-GERSHENSON PPTYSBI 2014-04 PURCHASE 2014-12   692 602     90  
    RAMCO-GERSHENSON PPTYSBI 2014-04 PURCHASE 2014-12   842 732     110  
    ABBVIE INC SHS 2013-02 PURCHASE 2014-11   3,379 1,950     1,429  
    ABBVIE INC SHS 2013-02 PURCHASE 2014-11   4,016 2,207     1,809  
    ALTRIA GROUP INC 2010-04 PURCHASE 2014-11   1,728 733     995  
    ALTRIA GROUP INC 2010-04 PURCHASE 2014-11   1,674 712     962  
    AMN ELEC POWER CO 2013-11 PURCHASE 2014-11   2,561 2,143     418  
    AT&T INC 2013-02 PURCHASE 2014-11   1,309 1,309        
    AT&T INC 2013-02 PURCHASE 2014-11   1,238 1,260     -22  
    AUTOMATIC DATA PROC 2013-11 PURCHASE 2014-11   3,404 2,778     626  
    BCE INC 2013-02 PURCHASE 2014-11   2,534 2,483     51  
    BP PLC SPON ADR 2014-09 PURCHASE 2014-11   3,041 3,311     -270  
    BRISTOL-MYERS SQUIBB CO 2013-02 PURCHASE 2014-06   12,678 9,807     2,871  
    CALIFORNIA RESOURCES 2014-11 PURCHASE 2014-12   79 83     -4  
    CALIFORNIA RESOURCES 2013-02 PURCHASE 2014-12   403 401     2  
    CDK GLOBAL INC SHS 2013-11 PURCHASE 2014-10   1,872 2,170     -298  
    CHEVRON CORP 2013-06 PURCHASE 2014-09   1,111 1,067     44  
    CHEVRON CORP 2013-02 PURCHASE 2014-09   15,675 14,827     848  
    CONAGRA FOODS INC 2013-06 PURCHASE 2014-06   930 1,116     -186  
    CONAGRA FOODS INC 2013-02 PURCHASE 2014-06   12,549 14,807     -2,258  
    DIGITAL RLTY TR INC 2013-02 PURCHASE 2014-11   3,423 3,303     120  
    DU PONT E I DE NEMOURS 2013-02 PURCHASE 2014-11   1,685 1,149     536  
    DU PONT E I DE NEMOURS 2013-02 PURCHASE 2014-11   940 622     318  
    EATON CORP PLC 2013-06 PURCHASE 2014-01   973 842     131  
    EATON CORP PLC 2012-12 PURCHASE 2014-01   17,584 12,051     5,533  
    ELI LILLY & CO 2014-06 PURCHASE 2014-11   2,570 2,329     241  
    GENERAL ELECTRIC 2013-02 PURCHASE 2014-11   3,421 3,010     411  
    GLAXOSMITHKLINE PLC ADR 2013-11 PURCHASE 2014-12   5,291 6,434     -1,143  
    GLAXOSMITHKLINE PLC ADR 2013-11 PURCHASE 2014-12   1,775 1,775        
    GLAXOSMITHKLINE PLC ADR 2013-11 PURCHASE 2014-12   5,813 6,909     -1,096  
    GLAXOSMITHKLINE PLC ADR 2013-11 PURCHASE 2014-12   1,735 2,192     -457  
    HALYARD HEALTH INC SHS 2013-06 PURCHASE 2014-11   37 32     5  
    HALYARD HEALTH INC SHS 2011-03 PURCHASE 2014-11   112 65     47  
    HALYARD HEALTH INC SHS 2011-03 PURCHASE 2014-11   595 346     249  
    INTEL CORP 2013-02 PURCHASE 2014-11   3,398 2,142     1,256  
    INTEL CORP 2013-02 PURCHASE 2014-11   3,901 2,289     1,612  
    JPMORGAN CHASE & CO 2013-02 PURCHASE 2014-11   2,535 2,043     492  
    KIMBERLY CLARK 2011-03 PURCHASE 2014-11   3,407 1,872     1,535  
    KRAFT FOODS GROUP INC 2013-02 PURCHASE 2014-11   2,581 2,162     419  
    LOCKHEED MARTIN CORP 2014-01 PURCHASE 2014-11   3,365 2,765     600  
    LOCKHEED MARTIN CORP 2014-01 PURCHASE 2014-11   3,947 3,226     721  
    MCDONALDS CORP COM 2013-02 PURCHASE 2014-11   2,095 2,108     -13  
    MCDONALDS CORP COM 2013-02 PURCHASE 2014-11   1,333 1,333        
    NEXTERA ENERGY INC SHS 2013-06 PURCHASE 2014-12   1,335 1,046     289  
    NEXTERA ENERGY INC SHS 2013-06 PURCHASE 2014-12   1,016 805     211  
    NEXTERA ENERGY INC SHS 2013-06 PURCHASE 2014-12   1,951 1,529     422  
    NEXTERA ENERGY INC SHS 2013-02 PURCHASE 2014-12   2,541 1,803     738  
    NEXTERA ENERGY INC SHS 2013-02 PURCHASE 2014-11   3,406 2,379     1,027  
    NEXTERA ENERGY INC SHS 2013-02 PURCHASE 2014-12   4,826 3,389     1,437  
    NEXTERA ENERGY INC SHS 2013-02 PURCHASE 2014-12   3,287 2,307     980  
    NEXTERA ENERGY INC SHS 2013-02 PURCHASE 2014-11   2,264 1,586     678  
    OCCIDENTAL PETE CORP CAL 2013-02 PURCHASE 2014-11   3,446 3,204     242  
    PACCAR INC 2013-02 PURCHASE 2014-11   3,414 2,445     969  
    PACCAR INC 2013-02 PURCHASE 2014-11   1,009 719     290  
    PHILIP MORRIS INTL INC 2013-02 PURCHASE 2014-11   1,760 1,835     -75  
    PPL CORPORATION 2013-06 PURCHASE 2014-11   2,550 2,125     425  
    SPECTRA ENERGY CORP 2013-02 PURCHASE 2014-11   3,394 2,538     856  
    THOMSON REUTERS CORP 2013-03 PURCHASE 2014-11   1,714 1,452     262  
    TORONTO DOMINION BANK 2013-02 PURCHASE 2014-11   2,557 2,089     468  
    TORONTO DOMINION BANK 2013-02 PURCHASE 2014-11   1,622 1,311     311  
    VENTAS INC 2013-02 PURCHASE 2014-11   3,419 3,419        
    VERIZON COMMUNICATNS COM 2013-02 PURCHASE 2014-11   3,415 3,116     299  
    BLKRCK FLEXBLE EQTY FD I 2010-01 PURCHASE 2014-01   12,266 8,460     3,806  
    BLKRCK FLEXBLE EQTY FD I 2010-01 PURCHASE 2014-01   10 7     3  
    ISHARES RS 2000 GROWTH 2007-03 PURCHASE 2014-11   7,512 4,325     3,187  
    ISHARES RS 2000 VALUE 2007-03 PURCHASE 2014-11   2,530 2,009     521  
    SPDR SER TR S &P BIOTECH ETF 2013-09 PURCHASE 2014-04   3 3        
    ISHARES TR RUSSELL 2000 GROWTH 2015-10 PURCHASE 2014-12   280 246     34  
    SPDR S&P PHARMACEUTICALS 2009-12 PURCHASE 2014-04   1,422 566     856  
    SPDR SER TR S &P BIOTECH ETF 2012-04 PURCHASE 2014-04   4,718 2,410     2,308  
    AMERIPRISE FINL 7.75% SENIOR NOTE DU 2012-11 PURCHASE 2014-06   22,500 26,004     -3,504  
    S&P STREET TRACT SPDR HOMEBUILDERS 2013-06 PURCHASE 2014-07   2,965 2,858     107  

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Name of Bond End of Year Book Value End of Year Fair Market Value
    MERRILL LYNCH - AC 621-96308 47,796 51,729

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN STATE BANK - AC 70010 1,342,178 1,965,875
    MERRILL LYNCH - AC 621-04Y19 178,277 138,665
    MERRILL LYNCH - AC 621-96308 624,096 566,954
    MERRILL LYNCH - AC 621-04005 231,251 260,969
    MERRILL LYNCH - AC 621-04007 329,511 383,909
    MERRILL LYNCH - AC 621-04008 224,940 342,327
    MERRILL LYNCH - AC 621-04009 266,928 342,636

    TY 2014 OtherIncomeSchedule2
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    EXCISE TAX REFUND 917    


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    PREMIER COMMUNICATIONS FOUNDATION
    C/O MUTUAL TELEPHONE COMPANY
    EIN: 42-1358494
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 34,764 34,764    
    MISC ADMINISTRATIVE EXPENSES 74 74