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
GALVAN INITIATIVES FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)42 WEST 39TH STREET 14TH FLOOR   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10018
A Employer identification number

45-4110216
B Telephone number (see instructions)

(212) 292-8400
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$25,219,479J 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).............. 9,476,752
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 10,511 10,511 10,511
4 Dividends and interest from securities......      
5a Gross rents.............. 445,042 445,042 445,042
b Net rental income or (loss) -209,177
6a Net gain or (loss) from sale of assets not on line 10 -31,031
b Gross sales price for all assets on line 6a 3,646,435
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 9,901,274 455,553 455,553
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 52,457   52,457  
15 Pension plans, employee benefits....... 11,998   36,859  
16a Legal fees (attach schedule)......... Click to see attachment 39,379   39,379  
b Accounting fees (attach schedule)....... Click to see attachment 16,167   16,167  
c Other professional fees (attach schedule).... Click to see attachment 308,229   308,229  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 218,589 218,589 218,589  
19 Depreciation (attach schedule) and depletion... Click to see attachment 276,443 271,813 276,443
20 Occupancy..............        
21 Travel, conferences, and meetings....... 8,846   8,846  
22 Printing and publications.......... 5,965   5,965  
23 Other expenses (attach schedule)....... Click to see attachment 267,638 163,817 267,638  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,205,711 654,219 1,230,572 0
25 Contributions, gifts, grants paid........ 798,383 798,383
26 Total expenses and disbursements. Add lines 24 and 25 2,004,094 654,219 1,230,572 798,383
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 7,897,180
b Net investment income (if negative, enter -0-) 0
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...............      
2 Savings and temporary cash investments.......... 3,322,578 1,119,297 1,119,297
3 Accounts receivable bullet27,080
Less: allowance for doubtful accounts bullet   13,708 27,080 27,080
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) bullet6,668,147
Less: allowance for doubtful accounts bullet     Click to see attachment6,668,147 6,668,147
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet17,377,055
Less: accumulated depreciation (attach schedule) bullet530,731 13,375,410 Click to see attachment16,846,324 17,377,055
15 Other assets (describe bullet) Click to see attachment6,363 Click to see attachment27,900 Click to see attachment27,900
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,718,059 24,688,748 25,219,479
Liabilities 17 Accounts payable and accrued expenses.......... 15,500 82,149
18 Grants payable..................    
19 Deferred revenue.................. 30,165 39,020
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).......... 45,665 121,169
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 16,672,394 24,567,579
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)...... 16,672,394 24,567,579
31 Total liabilities and net assets/fund balances (see instructions).. 16,718,059 24,688,748
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 16,672,394
2 Enter amount from Part I, line 27a..................... 2 7,897,180
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 24,569,574
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1,995
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 24,567,579
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a SALE OF PROPERTY TO GC1 P   2014-08-01
b SALE TO GC1 PART 2 P   2014-08-01
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 2,420,908 1,377 2,442,424 -20,139
b 1,225,527   1,236,419 -10,892
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       -20,139
b       -10,892
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 -31,031
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   1,640,081  
2012      
2011      
2010      
2009      
2 Total of line 1, column (d) ...................... 2  
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  
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 2,830,492
5 Multiply line 4 by line 3....................... 5  
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7 0
8 Enter qualifying distributions from Part XII, line 4.............. 8 798,383
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 0
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3  
4 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  
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a  
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
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
 
 
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
     
    No
    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)
    bulletNY
    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
    Yes
     
    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. Click to see attachment...............................
    10
    Yes
     
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.GALVANFOUNDATION.ORG
    14
    The books are in care ofbulletT ERIC GALLOWAY Telephone no.bullet (212) 292-8400
    Located atbullet42 WEST 39TH STREET 14TH FLOORNEW YORKNY ZIP+4bullet10018
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........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
    T ERIC GALLOWAY PRESIDENT
    10.00     		0 0 0
    345 ALLEN STREET
    HUDSON,NY12534
    HENRY VAN AMERINGEN TREASURER
    10.00     		0 0 0
    37 WEST 12TH STREET APT 11E
    NEW YORK,NY100118502
    RAFAL MARKWAT SECRETARY
    10.00     		0 0 0
    42 W 39TH STREET
    NEW YORK,NY10018
    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 THE FOUNDATION DIRECT ITS EFFORT SPECIFICALLY TOWARD THE P RDABLE HOUSING AND RELATED SERVICES TO LOW-INCOME AND OTHE GED PERSONS LIVING IN THE VICINITY OF THE CITY OF HUDSON BY (A) SPONSORING, PLANNING, ACQUIRING, DELVELOPING, RESTO NG FEE AND LEASEHOLD PROPERTIES IN THE AREA OF THE AFORESA 798,383
    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
    135,464
    b
    Average of monthly cash balances.......................
    1b
    2,738,132
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,873,596
    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
    2,873,596
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    43,104
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    2,830,492
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    141,525
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
     
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    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
     
    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
    798,383
    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
    798,383
    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
    798,383
    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  
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 798,383
    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.....  
    e Remaining amount distributed out of corpus 798,383
    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 5 798,383
    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 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
    0       0
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		798,383       798,383
    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 ....     		798,383       798,383
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ...... 24,688,748 16,718,059 9,229,729   50,636,536
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 24,688,748 16,718,059 9,229,729   50,636,536
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    GALVAN INITIATIVES FOUNDATION
    42 WEST 39TH ST 14TH FL
    NEW YORK,NY10018
    (212) 292-8400
    bThe form in which applications should be submitted and information and materials they should include:
    SEE STATEMENT FOR LINE 2A
    cAny submission deadlines:
    SEE STATEMENT FOR LINE 2A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    SEE STATEMENT FOR LINE 2A
    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
    GALVAN CIVIC 1
    42 W 39TH ST FL 14
    NEW YORK,NY10018     		    DONATION OF PROPERTIES 550,000
    CITY OF HUDSON
    520 WARREN ST
    HUDSON,NY12534     		    TREE PLANING 20,000
    GALVAN FOUNDATION CHARITABLE TRUST
    42 W 39TH ST FL 14
    NEW YORK,NY10018     		    GRANTMAKING 227,000
    OPERATION UNITE NY
    PO BOX 1305
    HUDSON,NY12534     		    PROPERTY MAINTENANCE 1,383
    Total .................................bullet 3a 798,383
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 10,511  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....         -209,177
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		        -31,031
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   10,511 -240,208
    13Total. Add line 12, columns (b), (d), and (e)..................
    13-229,697
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    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
    GALVAN INITIATIVES FOUNDATION
     
    Employer identification number

    45-4110216
    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
    GALVAN INITIATIVES FOUNDATION
          		Employer identification number

    45-4110216
    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
    GALVAN PARTNERS LLC
     

       
    42 WEST 39TH ST 14TH FL
     
    HUDSON, NY12534

    		$1,425,752


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    H VAN AMERINGEN FOUNDATION  
    509 MADISON AVENUE
     
    NEW YORK, NY10022

    		$8,051,000


    (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
    GALVAN INITIATIVES FOUNDATION
          		Employer identification number

    45-4110216
    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
    1
    		 5 RESIDENTIAL PROPERTIES $ 1,425,752  
    (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
    GALVAN INITIATIVES FOUNDATION
          		Employer identification number

    45-4110216
    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:  

    TY 2014 AccountingFeesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING - AUDIT 16,167   16,167  

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

    TY 2014 DepreciationSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    61-63 NORTH 7TH STREET 2012-12-21 128,159 4,660 S/L 27.5000 4,661 4,661 4,661  
    61-63 NORTH 7TH STR IMPRO 2012-12-21 485 18 S/L 27.5000 17 17 17  
    61-63 NORTH 7TH ST IMPROV 2012-12-21 283 10 S/L 27.5000 11 11 11  
    61-63 NORTH 7TH LAND 2012-12-21 21,535              
    20 IMPROVEMENTS 2012-12-21 2,537 96 S/L 27.5000 93 93 93  
    27 IMPROVEMENTS 2012-12-21 1,250 47 S/L 27.5000 46 46 46  
    29 IMPROV 2012-12-21 1,201 46 S/L 27.5000 43 43 43  
    30 IMPROV 2012-12-21 150 5 S/L 27.5000 6 6 6  
    31 IMPROV 2012-12-21 5,575 211 S/L 27.5000 202 202 202  
    33 IMPROV 2012-12-21 5,599 213 S/L 27.5000 203 203 203  
    43 IMPROV 2012-12-21 2,122 80 S/L 27.5000 77 77 77  
    44 IMPROV 2012-12-21 790 30 S/L 27.5000 28 28 28  
    45 IMPROV 2012-12-21 4,514 171 S/L 27.5000 164 164 164  
    46 IMPROV 2012-12-21 4,533 172 S/L 27.5000 165 165 165  
    47 IMPROV 2012-12-21 440,662 16,694 S/L 27.5000 16,024 16,024 16,024  
    58 IMPROV 2012-12-21 7,149 271 S/L 27.5000 260 260 260  
    63 IMPROV 2012-12-21 97,595 3,697 S/L 27.5000 3,549 3,549 3,549  
    68 IMPROV 2012-12-21 92,495 3,504 S/L 27.5000 3,364 3,364 3,364  
    76 IMPROV 2012-12-21 3,283 124 S/L 27.5000 120 120 120  
    85 IMPROV 2012-12-21 40,735 1,543 S/L 27.5000 1,482 1,482 1,482  
    86 IMPROV 2012-12-21 6,944 264 S/L 27.5000 252 252 252  
    94 IMPROV 2012-12-21 14,051 532 S/L 27.5000 511 511 511  
    98 IMPROV 2012-12-21 172,978 6,553 S/L 27.5000 6,290 6,290 6,290  
    100 IMPROV 2012-12-21 151,947 5,756 S/L 27.5000 5,526 5,526 5,526  
    32 INPROV 2012-12-21 2,379 91 S/L 27.5000 86 86 86  
    IMPROVEMENTS 2012-12-30 9,100 345 S/L 27.5000 331 331 331  
    IMPROVEMENTS 2013-06-30 800 16 S/L 27.5000 29 29 29  
    LAND 2013-06-30 10,978              
    BUILDING 2013-06-30 98,802   S/L 27.5000        
    IMPROVEMENTS 2013-12-01 11,498   S/L 27.5000        
    BUILDING 2014-04-02 8,125   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 1,351   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 9,849   S/L 27.5000        
    501 UNIONSTBUILDING BUILD 2012-12-21 259,129 394 S/L 27.5000        
    501 UNIONST BUILD IMPROV 2012-12-21 39,400 60 S/L 27.5000        
    501 UNION ST BUILD LAND 2012-12-21 30,000              
    IMPROVEMENTS 2012-12-30 22,293 34 S/L 27.5000        
    IMPROVEMENT 2013-06-30 144,604   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 13,691   S/L 27.5000        
    238 ALLEN STREET BUILD 2012-12-21 56,259 86 S/L 27.5000        
    238 ALLEN STREET LAND 2012-12-21 5,000              
    IMPROVEMENTS 2012-12-30 3,571 5 S/L 27.5000        
    IMPROVEMENT 2013-06-30 3,437   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 4,904   S/L 27.5000        
    250 ALLEN ST BUILD 2012-12-21 69,326 105 S/L 27.5000        
    250 ALLEN ST LAND 2012-12-21 5,000              
    IMPROVEMENTS 2012-12-30 7,142 11 S/L 27.5000        
    IMPROVEMENT 2013-06-30 8,553   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 9,923   S/L 27.5000        
    51 NORTH 5TH ST BUILD 2012-12-21 445,215 677 S/L 27.5000        
    51 NORTH 5TH ST LAND 2012-12-21 50,000              
    IMPROVEMENTS 2012-11-15 93,832 427 S/L 27.5000        
    IMPROVEMENTS 2012-12-30 91,718 139 S/L 27.5000        
    IMPROVEMENTS 2012-12-30 88,279 134 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 553,801   S/L 27.5000        
    CIP ADDITIONS 2014-06-01 399,099   S/L 27.5000        
    202-204 WARREN ST ADDITIONS 2014-06-01 720,480   S/L 27.5000        
    61-71 NORTH 5TH ST BUILD 2012-12-21 433,149 16,419 S/L 27.5000        
    61-71 NORTH 5TH ST LAND 2012-12-21 50,000              
    70-72 NORTH 5TH ST BUILD 2012-12-21 78,475 119 S/L 27.5000        
    70-72NORTH 5TH ST LAND 2012-12-21 5,000              
    IMPROVEMENTS 2012-12-30 4,111 6 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 4,760   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 41,923   S/L 27.5000        
    68 SOUTH 2ND ST BUILD 2012-12-21 114,696 119 S/L 27.5000        
    68 SOUTH 2ND ST LAND 2012-12-21 25,000              
    IMPROVEMENTS 2012-12-30 9,957 15 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 3,784   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 9,280   S/L 27.5000        
    400 STATE ST BUILD 2012-12-21 439,058 667 S/L 27.5000 15,966 15,966 15,966  
    400 STATE ST LAND 2012-12-21 50,000              
    IMPROVEMENTS 2012-12-30 3,657 6 S/L 27.5000 133 133 133  
    IMPROVEMENTS 2013-06-30 33,607   S/L 27.5000 1,222 1,222 1,222  
    113 UNION STREET BUILD 2012-12-21 144,896 5,489 S/L 27.5000 5,269 5,269 5,269  
    113 UNION STREET LAND 2012-12-21 15,000              
    IMPROVEMENTS 2012-12-30 7,597 288 S/L 27.5000 277 277 277  
    IMPROVEMENTS 2013-06-30 76,148 1,500 S/L 27.5000 2,769 2,769 2,769  
    IMPROVEMENTS 2014-11-05 28,350   S/L 27.5000 129 129 129  
    215-217 UNION ST BUILD 2012-12-21 102,013 155 S/L 27.5000        
    215-217 UNION ST LAND 2012-12-21 5,000              
    IMPROVEMENTS 2012-12-30 3,594 5 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 96,615   S/L 27.5000        
    238 UNION ST BUILD 2012-12-21 134,092 204 S/L 27.5000 4,876 4,876 4,876  
    238 UNION ST LAND 2012-12-21 25,000              
    IMPROVEMENTS 2012-12-30 8,699 13 S/L 27.5000 316 316 316  
    IMPROVEMENTS 2013-06-30 7,355   S/L 27.5000 267 267 267  
    25 UNION ST BUILD 2012-12-21 150,000 228 S/L 27.5000        
    25 UNION ST LAND 2012-12-21 25,000              
    IMPROVEMENTS 2012-12-30 6,279 10 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 839   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 8,891   S/L 27.5000        
    251-253 UNION ST BUILD 2012-12-21 200,000 7,577 S/L 27.5000 7,272 7,272 7,272  
    251-253 UNION ST LAND 2012-12-21 49,000              
    IMPROVEMENTS 2012-12-30 4,970 189 S/L 27.5000 180 180 180  
    IMPROVEMENTS 2013-06-30 1,427 28 S/L 27.5000 52 52 52  
    438 UNION ST BUILD 2012-12-21 165,000 251 S/L 27.5000        
    438 UNION ST LAND 2012-12-21 20,000              
    IMPROVEMENTS 2012-12-30 11,280 17 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 6,734   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 9,122   S/L 27.5000        
    9 UNION ST BUILD 2012-12-21 187,976 7,121 S/L 27.5000 6,836 6,836 6,836  
    9 UNION ST IMPROV 2012-12-21 75,277 2,851 S/L 27.5000 2,738 2,738 2,738  
    9 UNION ST LAND 2012-12-21 20,000              
    IMPROVEMENTS 2013-06-30 75 1 S/L 27.5000 3 3 3  
    412-416 WARREN ST BUILD 2012-12-21 360,526 15,601 S/L 27.5000 13,110 13,110 13,110  
    412 WARREN ST IMPROV 2012-12-21 19,358 733 S/L 27.5000 704 704 704  
    412 WARREN ST IMPROV 2012-12-21 11,283 427 S/L 27.5000 411 411 411  
    412 WARREN ST IMPROV 2012-12-21 3,867 147 S/L 27.5000 140 140 140  
    412 WARREN ST IMPROV 2012-12-21 8,653 328 S/L 27.5000 314 314 314  
    IMPROVEMENTS 2012-12-30 51,097 1,936 S/L 27.5000 1,858 1,858 1,858  
    IMPROVEMENTS 2013-06-30 6,897 136 S/L 27.5000 251 251 251  
    LAND 2012-12-21 51,297              
    102-104 UNION ST BUILD 2012-12-21 45,711 1,731 S/L 27.5000 1,662 1,662 1,662  
    102-104 UNION ST BUILD 2012-12-21 531 20 S/L 27.5000 20 20 20  
    102-104 UNION ST IMPROV 2012-12-21 414,133 15,688 S/L 27.5000 15,060 15,060 15,060  
    102-104 UNION ST IMPROV 2012-12-21 182,866 6,928 S/L 27.5000 6,649 6,649 6,649  
    102-104 UNION ST LAND 2012-12-21 7,550              
    IMPROVEMENTS 2013-06-30 2,869 57 S/L 27.5000 104 104 104  
    213 UNION ST BUILD 2012-12-21 211,743 322 S/L 27.5000 7,700 7,700 7,700  
    213 UNION ST LAND 2012-12-21 20,000              
    IMPROVEMENTS 2013-06-30 17,538   S/L 27.5000 638 638 638  
    34-36 SOUTH 2ND ST BUILD 2012-12-21 127,596 4,834 S/L 27.5000 4,640 4,640 4,640  
    34-36 SOUTH 2ND ST IMPROV 2012-12-21 8,476 321 S/L 27.5000 308 308 308  
    34-36 SOUTH 2ND ST IMPROV 2012-12-21 180,620 6,843 S/L 27.5000 6,568 6,568 6,568  
    34-36 SOUTH 2ND ST LAND 2012-12-21 20,000              
    IMPROVEMENTS 2013-06-30 5,492 108 S/L 27.5000 200 200 200  
    211 UNION ST BUILD 2012-12-21 195,517 7,407 S/L 27.5000 7,109 7,109 7,109  
    211 UNION ST IMPROV 2012-12-21 7,474 283 S/L 27.5000 272 272 272  
    211 UNION ST IMPROV 2012-12-21 2,635 100 S/L 27.5000 96 96 96  
    211 UNION ST IMPROV 2012-12-21 8,624 327 S/L 27.5000 313 313 313  
    211 UNION ST IMPROV 2012-12-21 9,241 350 S/L 27.5000 336 336 336  
    209-211UNION ST IMPROV 2012-12-21 505,208 22,211 S/L 27.5000 18,371 18,371 18,371  
    IMPROVEMENTS 2013-06-30 1,150 23 S/L 27.5000 41 41 41  
    LAND 2012-12-21 81,094              
    317 WARREN ST BUILD 2012-12-21 151,802 5,751 S/L 27.5000 5,520 5,520 5,520  
    317 WARREN ST BUILD 2012-12-21 2,195 83 S/L 27.5000 80 80 80  
    317 WARREN ST IMPROV 2012-12-21 30,587 1,158 S/L 27.5000 1,113 1,113 1,113  
    317 WARREN ST IMPROV 2012-12-21 4,248 160 S/L 27.5000 155 155 155  
    317 WARREN ST IMPROV 2012-12-21 101,599 3,849 S/L 27.5000 3,694 3,694 3,694  
    317 WARREN ST LAND 2012-12-21 23,000              
    346 WARREN ST BUILD 2012-12-21 264,273 10,012 S/L 27.5000 9,610 9,610 9,610  
    346 WARREN ST LAND 2012-12-21 30,000              
    22-24 WARREN ST BUILD 2012-12-21 101,500 154 S/L 27.5000        
    22-24 WARREN ST LAND 2012-12-21 20,000              
    IMPROVEMENTS 2013-06-30 19,308   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 18,521   S/L 27.5000 365 365 365  
    BUILDING 2012-11-15 135,000 6,138 S/L 27.5000 4,909 4,909 4,909  
    IMPROVEMENTS 2013-06-30 21,191 417 S/L 27.5000 771 771 771  
    LAND 2012-11-15 15,000              
    IMPROVEMENTS 2013-06-30 430,298   S/L 27.5000        
    HUDSON AVE (LITTLE LEAGUE 2012-09-11 60,000              
    IMPROVEMENTS 2012-12-30 1,611 2 S/L 27.5000        
    IMPROVEMENTS 2012-12-30 14,135   S/L 27.5000 514 514 514  
    IMPROVEMENTS 2013-06-30 3,952   S/L 27.5000 144 144 144  
    IMPROVEMENTS 2012-12-30 382 1 S/L 27.5000        
    IMPROVEMENTS 2013-06-30 492   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 510   S/L 27.5000        
    BUILDING 2013-08-28 115,500 1,575 S/L 27.5000 4,200 4,200 4,200  
    IMPROVEMENTS 2013-08-28 11,600 158 S/L 27.5000 422 422 422  
    LAND 2013-08-28 12,000              
    IMPROVEMENTS 2012-12-31 66,467 2,551 S/L 27.5000 2,417 2,417 2,417  
    IMPROVEMENTS 2013-06-30 131,800 3,204 S/L 27.5000 4,793 4,793 4,793  
    LAND 2013-06-30 30,877              
    IMPROVEMENTS 2013-01-01 19,071 665 S/L 27.5000 693 693 693  
    IMPROVEMENTS 2013-06-30 338,452 7,275 S/L 27.5000 12,307 12,307 12,307  
    LAND 2013-06-30 30,877              
    BUILDING 2013-01-01 277,000 9,653 S/L 27.5000 10,073 10,073 10,073  
    IMPROVEMENTS 2013-06-30 3,583 71 S/L 27.5000 130 130 130  
    LAND 2013-01-01 30,000   S/L 27.5000 1,091 1,091 1,091  
    BUILDING 2013-01-01 140,700   S/L 27.5000        
    IMPROVEMENTS 2013-06-30 2,258   S/L 27.5000        
    LAND 2013-01-01 15,000              
    IMPROVEMENTS 2014-06-30 8,626   S/L 27.5000        
    IMPROVEMENTS 2013-01-01 296,611 11,469 S/L 27.5000 10,786 10,786 10,786  
    IMPROVEMENTS 2013-06-30 102,176 2,013 S/L 27.5000 3,715 3,715 3,715  
    LAND 2013-01-01 32,500              
    BUILDING 2013-01-01 180,000   S/L 27.5000        
    IMPROVEMENTS 2013-06-30 10,538   S/L 27.5000        
    LAND 2013-01-01 20,000     27.5000        
    IMPROVEMENTS 2014-08-21 352   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 12,991   S/L 27.5000        
    BUILDING 2013-01-01 300,000   S/L 27.5000        
    IMPROVEMENTS 2013-06-30 234,125   S/L 27.5000        
    LAND 2013-01-01 20,000     27.5000        
    IMPROVEMENTS 2013-06-30 377,421   S/L 27.5000        
    DONATED PROPERTY 2014-01-01 275,370   S/L 27.5000        
    CIP ADDITIONS 2014-06-01 583,628   S/L 27.5000        
    BUILDING 2013-01-01 70,000   S/L 27.5000        
    LAND 2013-01-01 5,000              
    IMPROVEMENTS 2013-06-30 6,378   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 16,650   S/L 27.5000        
    DEPOSIT 2014-01-10 40,000              
    BUILDING 2014-01-10 412,710   S/L 27.5000        
    IMPROVEMENTS 2014-06-30 9,709   S/L 27.5000        
    IMPROVEMENTS 2013-08-14 84,250   S/L 27.5000        
    LAND 2014-08-11 157,500              
    BUILDING 2014-08-11 1,426,324   S/L 39.0000 13,715 13,715 13,715  
    IMPROVEMENTS 2014-12-01 42,818   S/L 39.0000 46 46 46  
    BUILDING 2014-12-01 332,987   S/L 27.5000 505 505 505  
    IMPROVEMENTS 2014-06-30 35,000   S/L 27.5000        
    LAND 2014-08-11 15,000              
    BUILDING 2014-08-11 137,839   S/L 39.0000 1,325 1,325 1,325  
    IMPROVMENTS 2014-06-30 68,280   S/L 27.5000        
    2012 CHRYSLER 200 2012-01-18 22,734 9,177 200DB 5.0000 2,777   4,630  
    TO MATCH BOOK BALANCE           1,853      

    TY 2014 LandEtcSchedule2
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      15,315,773 516,925 14,798,848 15,315,773
    AUTO 22,733 13,806 8,927 22,733
    CIP 537,781   537,781 537,781
      1,500,768   1,500,768 1,500,768


    TY 2014 LegalFeesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT LEGAL FEES 39,379   39,379  


    TY 2014 OtherAssetsSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ESCROW DEPOSITS 6,363 3,870 3,870
    PREPAID EXPENSES   11,525 11,525
    UTILITY DEPOSIT   12,505 12,505


    TY 2014 OtherDecreasesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Description Amount
       
       


    TY 2014 OtherExpensesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    NORTH 7TH STREET (61-63)        
    UTILITIES 2,754 2,754 2,754  
    LANDSCAPING & SNOW REMOVAL 760 760 760  
    NORTH 5TH STREET (67-71)        
    REPAIRS & MAINTENANCE 4,086 4,086 4,086  
    LANDSCAPING & SNOW REMOVAL 1,236 1,236 1,236  
    NORTH 5TH STREET (76-78)        
    UTILITIES 525 525 525  
    REPAIRS & MAINTENANCE 16,002 16,002 16,002  
    LANDSCAPING & SNOW REMOVAL 1,210 1,210 1,210  
    STATE STREET (400)        
    LANDSCAPING & SNOW REMOVAL 2,270 2,270 2,270  
    REPAIRS & MAINTENANCE 5,698 5,698 5,698  
    UTILITIES 568 568 568  
    UNION STREET (113)        
    UTILITIES 1,050 1,050 1,050  
    REPAIRS & MAINTENANCE 1,482 1,482 1,482  
    LANDSCAPING & SNOW REMOVAL 970 970 970  
    UNION STREET (123)        
    REPAIRS & MAINTENANCE 11,792 11,792 11,792  
    UTILITIES 6,008 6,008 6,008  
    LANDSCAPING & SNOW REMOVAL 1,750 1,750 1,750  
    UNION STREET (238)        
    LANDSCAPING & SNOW REMOVAL 400 400 400  
    REPAIRS & MAINTENANCE 976 976 976  
    UTILITIES 1,260 1,260 1,260  
    UNION STREET (251-253)        
    LANDSCAPING & SNOW REMOVAL 550 550 550  
    REPAIRS & MAINTENANCE 1,330 1,330 1,330  
    UTILITIES 1,050 1,050 1,050  
    UNION STREET (9)        
    UTILITIES 525 525 525  
    REPAIRS & MAINTENANCE 825 825 825  
    LANDSCAPING & SNOW REMOVAL 720 720 720  
    UNION STREET (102-104)        
    REPAIRS & MAINTENANCE 801 801 801  
    LANDSCAPING & SNOW REMOVAL 400 400 400  
    COMMISIONS 1,600 1,600 1,600  
    UNION STREET (213)        
    LANDSCAPING & SNOW REMOVAL 750 750 750  
    REPAIRS & MAINTENANCE 6,186 6,186 6,186  
    UTILITIES 2,971 2,971 2,971  
    SOUTH 2ND STREET (34-36)        
    UTILITIES 2,710 2,710 2,710  
    REPAIRS & MAINTENANCE 2,948 2,948 2,948  
    LANDSCAPING & SNOW REMOVAL 1,160 1,160 1,160  
    UNION STREET (211-209)        
    UTILITIES 302 302 302  
    REPAIRS & MAINTENANCE 440 440 440  
    LANDSCAPING & SNOW REMOVAL 800 800 800  
    WARREN STREET (317)        
    LANDSCAPING & SNOW REMOVAL 490 490 490  
    REPAIRS & MAINTENANCE 275 275 275  
    UTILITIES 525 525 525  
    HUDSON AVE ( LITTLE LEAGUE)        
    LANDSCAPING & SNOW REMOVAL 360 360 360  
    REPAIRS & MAINTENANCE 718 718 718  
    NORTH 5TH ST HOUSE 1(61-65)        
    LANDSCAPING & SNOW REMOVAL 2,377 2,377 2,377  
    REPAIRS & MAINTENANCE 13,095 13,095 13,095  
    UTILITIES 222 222 222  
    UNION STREET(27)        
    UTILITIES 525 525 525  
    REPAIRS & MAINTENANCE 1,408 1,408 1,408  
    LANDSCAPING & SNOW REMOVAL 590 590 590  
    WARREN STREET(364)        
    LANDSCAPING & SNOW REMOVAL 1,560 1,560 1,560  
    UTILITIES 6,996 6,996 6,996  
    NORTH 7TH AVENUE(75)        
    LANDSCAPING & SNOW REMOVAL 1,950 1,950 1,950  
    REPAIRS & MAINTENANCE 480 480 480  
    UTILITIES 655 655 655  
    412 WARREN STREET        
    UTILITIES 10,859 10,859 10,859  
    REPAIRS & MAINTENANCE 12,137 12,137 12,137  
    LANDSCAPING & SNOW REMOVAL 2,275 2,275 2,275  
    364 WARREN STREET        
    LANDSCAPING & SNOW REMOVAL 590 590 590  
    REPAIRS & MAINTENANCE 2,410 2,410 2,410  
    UTILITIES 7,501 7,501 7,501  
    WARREN STREET (11)        
    REPAIRS & MAINTENANCE 4,543 4,543 4,543  
    LANDSCAPING & SNOW REMOVAL 650 650 650  
    EQUIPMENT RENTAL 610 610 610  
    UTILITIES 2,513 2,513 2,513  
    SECURITY 292 292 292  
    SOUTH 3RD ST(40) SALV ARMY        
    UTILITIES 256 256 256  
    LANDSCAPING & SNOW REMOVAL 90 90 90  
    EXPENSES        
    BANK CHARGES 375   375  
    CREDIT CARD FEES 40   40  
    PAYROLL PROCESSING FEES 2,957   2,957  
    TELEPHONE EXPENSE 5,026   5,026  
    AUTOMOBILE 5,603   5,603  
    LICENSES & PERMITS 2,539   2,539  
    OFFICE SUPPLIES 3,895   3,895  
    POSTAGE & DELIVERY 3,579   3,579  
    BAD DEBT - GROSS TENANT RENTS 9,091   9,091  
    ADVERTISING 2,483   2,483  
    DUES& SUB 3,690   3,690  
    REPAIRS & MAINTENANCE 17,448   17,448  
    UTILITIES -2,767   -2,767  
    EQUIPMENT RENTAL 654   654  
    LANDSCAPING & SNOW REMOVAL 470   470  
    WASTE REMOVAL 16,129   16,129  
    COMMISIONS 7,748   7,748  
    INSURANCE EXPENSE 24,861   24,861  


    TY 2014 OtherNotesLoansRcvblShortSch2
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Name of 501(c)(3) Organization Balance Due
     
          		6,668,147


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 240,000   240,000  
    ENGINEERING 35,467   35,467  
    CONSULTING 32,762   32,762  


    TY 2014 SubstantialContributorsSch
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Name Address
    H VAN AMERINGEN FOUNDATION 509 MADISON AVENUE
    NEW YORK,NY10022


    TY 2014 TaxesSchedule
    Name:
    GALVAN INITIATIVES FOUNDATION
    EIN: 45-4110216
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    NORTH 7TH STREET (61-63) 7,459      
    NORTH 5TH STREET (67-71) 2,700      
    NORTH 5TH STREET (76-78) 6,351      
    UNION STREET (113) 8,649      
    UNION STREET (123) 11,544      
    UNION STREET (238) 6,749      
    UNION STREET (251-253) 7,814      
    UNION STREET (9) 10,578      
    UNION STREET (102-104) 21,199      
    UNION STREET (213) 7,743      
    SOUTH 2ND STREET (34-36) 10,656      
    UNION STREET (211-209) 18,364      
    WARREN STREET (317) 11,544      
    HUDSON AVE ( LITTLE LEAGUE) 7,728      
    NORTH 5TH ST HOUSE 1(61-65) 3,376      
    UNION STREET(27) 8,397      
    WARREN STREET(364) 28,831      
    NORTH 7TH AVENUE(75) 3,374      
    412 WARREN STREET 19,181      
    364 WARREN STREET 16,352