TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
THE WALSH FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)500 WEST 7TH STREETROOM/SUITE 1007Room/suite

City or town, state or province, country, and ZIP or foreign postal code
FORT WORTH, TX761024732

A Employer identification number

75-6021726

B Telephone number (see instructions)

(817) 335-3741

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$18,036,788J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	2,000,000
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	868		868
4	Dividends and interest from securities......	304,863		304,863
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		421,805
b	Gross sales price for all assets on line 6a 4,355,966
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).......		157,020	159,601
12	Total. Add lines 1 through 11........	2,884,556		465,332
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)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		15,919
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		68,916
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	84,835		0	0
25	Contributions, gifts, grants paid........	2,523,000			2,523,000
26	Total expenses and disbursements. Add lines 24 and 25	2,607,835		0	2,523,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	276,721
b	Net investment income (if negative, enter -0-)			465,332
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	6,929,649	6,401,376	6,401,376
	3	Accounts receivable -357
		Less: allowance for doubtful accounts	3,984	-357	-357
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	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)........	4,493,198	5,173,238	8,558,736
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	3,022,149	3,149,427	3,074,633
	14	Land, buildings, and equipment: basis 4,627
		Less: accumulated depreciation (attach schedule) 4,627
	15	Other assets (describe )		2,400	2,400
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	14,448,980	14,726,084	18,036,788
	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 )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		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	14,448,980	14,726,084
	30	Total net assets or fund balances (see instructions)......	14,448,980	14,726,084
	31	Total liabilities and net assets/fund balances (see instructions)..	14,448,980	14,726,084

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	14,448,980
2	Enter amount from Part I, line 27a.....................	2	276,721
3	Other increases not included in line 2 (itemize)	3	383
4	Add lines 1, 2, and 3..........................	4	14,726,084
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	14,726,084

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
(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)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2
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 . . . . . . . . . . . . . . . .		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? Yes No

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	9,215,235	15,691,925	0.587260
2012	1,689,603	18,777,193	0.089982
2011	1,026,123	19,108,799	0.053699
2010	1,636,400	15,288,057	0.107038
2009	1,735,500	15,117,720	0.114799

2	Total of line 1, column (d) ......................	2	0.952778
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	0.190556
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	14,365,750
5	Multiply line 4 by line 3.......................	5	2,737,480
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	4,653
7	Add lines 5 and 6.........................	7	2,742,133
8	Enter qualifying distributions from Part XII, line 4..............	8	2,523,000
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)

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	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	9,307
	hereand 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	9,307
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	9,307
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	2,513
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	2,513
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	6,794
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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) .............

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).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Website address bullet

N/A

The books are in care of bullet

G MALCOLM LOUDEN Telephone no. bullet

(817) 335-3741

Located at bullet

500 W 7TH STFORT WORTHTX ZIP+4 bullet

761024732

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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)

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?.................YesNo

(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.).........YesNo

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)? ........

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?.............

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)):

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?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?........................YesNo

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.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)..................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

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)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.......................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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
G MALCOLM LOUDEN	PRESIDENT 2.00	0	0	0
500 W 7TH STREET FORT WORTH,TX76102	PRESIDENT 2.00	0	0	0
F HOWARD WALSH JR	ASST SEC/TR 2.00	0	0	0
500 W 7TH STREET FORT WORTH,TX76102	ASST SEC/TR 2.00	0	0	0
GARY GOBLE	SECRETARY/TR 2.00	0	0	0
500 W 7TH STREET FORT WORTH,TX76102	SECRETARY/TR 2.00	0	0	0

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...................

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)

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.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

4,833,218

Average of monthly cash balances.......................

6,665,512

Fair market value of all other assets (see instructions)................

3,085,788

Total (add lines 1a, b, and c).........................

14,584,518

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

14,584,518

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

218,768

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

14,365,750

Minimum investment return. Enter 5% of line 5..................

718,288

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

718,288

Tax on investment income for 2014 from Part VI, line 5......

9,307

Income tax for 2014. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

9,307

Distributable amount before adjustments. Subtract line 2c from line 1............

708,981

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

708,981

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

708,981

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

2,523,000

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

2,523,000

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).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

2,523,000

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)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7			708,981
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.......	988,101
b From 2010.......	886,337
c From 2011.......	81,176
d From 2012.......	755,377
e From 2013.......	8,435,169
fTotal of lines 3a through e.........		11,146,160
4Qualifying distributions for 2014 from Part
XII, line 4: $ 2,523,000
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.....			708,981
e Remaining amount distributed out of corpus		1,814,019
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		12,960,179
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) ...		988,101
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		11,972,078
10 Analysis of line 9:
a Excess from 2010....	886,337
b Excess from 2011....	81,176
c Excess from 2012....	755,377
d Excess from 2013....	8,435,169
e Excess from 2014....	1,814,019

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

G MALCOLM LAUDEN
500 W 7TH STREET
FORT WORTH,TX76102
(817) 335-3741

bThe form in which applications should be submitted and information and materials they should include:

WRITTEN REQUEST OUTLINING THE USE OF FUNDS

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

AWARDS MUST BE FOR AND ARE RESTRICTED TO: EDUCATION, HEALTH, PERFORMING ARTS & GENERAL WELFARE

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
TEXAS CHRISTIAN UNIVERSIT 2800 S UNIVERSITY DR FORT WORTH,TX76102	501(C)3		SEE ATTACHED NOTE SCHEDULE	1,305,500
COOK CHILDREN'S MEDICAL 6501 N BEACH ST FORT WORTH,TX76137	501(C)3		"	100,000
MISC CHARITIES - SEE ATTACHMENT 500 W 7TH STREET FORT WORTH,TX76102	501(C)3		"	1,117,500
Total ................................. 3a				2,523,000

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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	868
4 Dividends and interest from securities....			14	304,863
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.....			15	159,601
8 Gain or (loss) from sales of assets other than inventory .............					421,805
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aSECTION 1231 - WALSH K-1			14	92
bORD INC - WALSH K-1			14	-2,673
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				462,751	421,805

13Total. Add line 12, columns (b), (d), and (e)..................

13884,556

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

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

THE WALSH FOUNDATION

Employer identification number

75-6021726

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

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

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... 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 THE WALSH FOUNDATION

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	ESTATE OF MARY D WALSH 500 W 7TH STREET STE 1007 FORT WORTH, TX76102	$2,000,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (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 THE WALSH FOUNDATION

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
THE WALSH FOUNDATION

Employer identification number

75-6021726

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

(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

(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

(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

(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:

- TIN:

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

TY 2014 GainLossSaleOtherAssetsSch

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Name	Date Acquired	How Acquired	Date Sold	Gross Sales Price	Basis	Total (net)
11 SHS ABBVIE INC	2014-05	PURCHASE	2014-07	638	593	45
418 SHS TULLOW OIL PLC	2014-05	PURCHASE	2014-08	5,080	5,943	-863
701 SHS ALLIANZE	2014-05	PURCHASE	2014-09	11,360	11,787	-427
31 SHS ALTRIA	2014-05	PURCHASE	2014-07	1,299	1,248	51
88 SHS ANHEUSER BUSCH	2014-05	PURCHASE	2014-09	10,026	9,665	361
55 SHS APPLE	2014-08	PURCHASE	2014-09	5,487	5,288	199
10758.87 SHS ARTISAN	2013-09	PURCHASE	2014-05	325,348	300,000	25,348
1679 SHS ARTISAN FDS	2013-09	PURCHASE	2014-05	270,857	263,000	7,857
6 SHS AUTOMATIC DATA	2014-05	PURCHASE	2014-07	480	468	12
31 SHS BAE SYS	2014-05	PURCHASE	2014-07	909	858	51
9 SHS BASFAG	2014-05	PURCHASE	2014-07	1,053	1,022	31
16 SHS BCE INC	2014-05	PURCHASE	2014-07	723	723
41.67 SHS CDK GLOBAL	2014-08	PURCHASE	2014-11	1,426	1,254	172
23 SHS CENTURYTEL	2014-05	PURCHASE	2014-07	826	826
22380 SHS COLUMBIA	2013-09	PURCHASE	2014-05	230,071	220,000	10,071
721.61 SHS COMPASS GP	2014-06	PURCHASE	2014-08	6,760	6,760
92 SHS DEERE CO	2014-07	PURCHASE	2014-10	7,684	8,162	-478
32913.46 SHS DELAWARE EMERGING	2014-03	PURCHASE	2014-05	547,683	508,210	39,473
25 SHS TSCHE TELEKOM	2014-05	PURCHASE	2014-07	425	425
69 SHS DIAGEO PLC	2014-05	PURCHASE	2014-10	7,995	8,700	-705
135 SHS DIAMOND OFFSHORE	2014-05	PURCHASE	2014-06	6,439	6,763	-324
46 SHS NELLEY	2014-05	PURCHASE	2014-07	766	699	67
11 SHS DOW	2014-05	PURCHASE	2014-07	567	544	23
17 SHS DUKE ENERGY	2014-05	PURCHASE	2014-07	1,225	1,194	31
1425 SHS EMERGING GLOBAL	2014-05	PURCHASE	2014-10	39,178	39,387	-209
143 SHS EMERSON	2014-05	PURCHASE	2014-10	9,164	9,423	-259
2269 SHS ERICSSON L M	2014-09	PURCHASE	2014-12	28,109	27,829	280
19 SHS GLAXO	2014-05	PURCHASE	2014-07	1,031	1,031
16 SHS HALYARD HEALTH	2014-07	PURCHASE	2014-12	602	590	12
9 SHS HEALTH CARE	2014-05	PURCHASE	2014-07	560	560
397 SHS LARGE	2014-05	PURCHASE	2014-11	27,399	32,963	-5,564
90 SHS INTEGRYS	2014-05	PURCHASE	2014-06	6,211	5,146	1,065
7900 SHS ISHARES	2013-09	PURCHASE	2014-01	431,119	457,940	-26,821
600 SHS ISHARES	2013-09	PURCHASE	2014-05	29,577	28,085	1,492
3250 SHS ISHARES	2013-06	PURCHASE	2014-05	44,302	40,643	3,659
799 SHS ISHARES	2013-09	PURCHASE	2014-06	11,928	11,582	346
140 SHS ISHARES	2014-03	PURCHASE	2014-05	9,047	8,439	608
3350 SHS ISHARES	2013-09	PURCHASE	2014-05	104,798	88,552	16,246
1350 SHS ISHARES	2013-12	PURCHASE	2014-05	90,449	88,204	2,245
1200 SHS ISHARES	2013-09	PURCHASE	2014-01	40,103	45,448	-5,345
1050 SHS ISHARES	2013-09	PURCHASE	2014-05	101,149	89,754	11,395
600 SHS ISHARES	2013-09	PURCHASE	2014-05	35,793	35,196	597
1060 SHS ISHARES	2014-03	PURCHASE	2014-05	31,192	31,348	-156
265 SHS ISHARES	2014-03	PURCHASE	2014-10	7,259	7,837	-578
728.2 SHS ITAU UNIBANCO	2014-05	PURCHASE	2014-07	11,611	11,011	600
5 SHS KIMBERLY CLARK	2014-05	PURCHASE	2014-07	557	548	9
244 SHS AG	2014-07	PURCHASE	2014-10	20,921	26,554	-5,633
33 SHS LOCKHEED	2014-05	PURCHASE	2014-09	5,753	5,520	233
19 SHS LORILLARD	2014-05	PURCHASE	2014-07	1,162	1,083	79
11 SHS MATTELL	2014-05	PURCHASE	2014-07	431	423	8
14 SHS MERCK	2014-05	PURCHASE	2014-07	825	787	38
12 SHS MICROCHIP	2014-05	PURCHASE	2014-07	594	558	36
89 SHS NATL GRID	2014-05	PURCHASE	2014-07	678	673	5
24 SHS PPL CORP	2014-05	PURCHASE	2014-07	822	804	18
31 SHS PEARSON	2014-05	PURCHASE	2014-07	607	607
138 SHS INDUSTRIA	2014-07	PURCHASE	2014-07	20,680	20,379	301
36 SHS REGAL ENTMT	2014-05	PURCHASE	2014-07	767	694	73
12 SHS REYNOLDS	2014-05	PURCHASE	2014-07	722	688	34
199 SHS ROCHE	2014-05	PURCHASE	2014-10	7,315	7,489	-174
302 SHS ROLLS-ROYCE	2014-07	PURCHASE	2014-11	20,171	25,730	-5,559
146 SHS STANDARDS AND POORS	2014-07	PURCHASE	2014-12	30,125	28,504	1,621
49 SHS SPDR S&P	2014-05	PURCHASE	2014-07	3,830	3,527	303
14 SHS SANOFI	2014-05	PURCHASE	2014-07	746	741	5
145 SHS SAP	2014-05	PURCHASE	2014-05	11,088	11,045	43
35 SHS SHAW	2014-05	PURCHASE	2014-07	909	876	33
158 SHS SVENSKA	2014-05	PURCHASE	2014-10	3,600	4,016	-416
15 SHS SWISSCOM	2014-05	PURCHASE	2014-07	870	870
60 SHS TERNA	2014-05	PURCHASE	2014-07	953	953
11 SHS TOTAL S A	2014-05	PURCHASE	2014-07	795	785	10
20 SHS VERIZON	2014-05	PURCHASE	2014-07	993	987	6
32 SHS VINCI	2014-05	PURCHASE	2014-07	592	590	2
32 SHS VIVENDI SA	2014-05	PURCHASE	2014-07	781	871	-90
23 SHS VODAFONE	2014-05	PURCHASE	2014-07	769	769
19 SHS ATPA BANKING	2014-05	PURCHASE	2014-07	610	604	6
3200 SHS WISDOMTREE	2013-05	PURCHASE	2014-05	147,127	151,881	-4,754
136 SHS YARA INTL	2014-07	PURCHASE	2014-10	6,414	6,508	-94
2979 SHS PRADA SPA	2014-05	PURCHASE	2014-10	18,734	21,215	-2,481
39 SHS COLOPLAST	2014-05	PURCHASE	2014-05	3,359	3,404	-45
165 SHS GEMALTO	2014-05	PURCHASE	2014-11	12,590	17,513	-4,923
166 SHS GALTO	2014-07	PURCHASE	2014-11	12,770	16,038	-3,268
SHS CIE FIN	2014-05	PURCHASE	2014-08	3,499	3,499
8 SHS DAIMLER CHRYSLER	2014-05	PURCHASE	2014-07	761	726	35
4754.69 SHS ARTISAN INTL	2013-03	PURCHASE	2014-05	143,782	104,954	38,828
4737.89 SHS ARTISAN FDS	2013-03	PURCHASE	2014-05	178,476	153,600	24,876
6554 SHS COLUMBIA	2010-02	PURCHASE	2014-05	313,217	235,353	77,864
10393 SHS DELAWARE	2012-01	PURCHASE	2014-05	172,947	140,000	32,947
3000 SHS ISHARES	2010-02	PURCHASE	2014-02	87,028	75,570	11,458
1310 SHS ISHARES INC	2012-04	PURCHASE	2014-05	64,576	54,993	9,583
3500 SHS ISHARES INC	2013-03	PURCHASE	2014-05	47,710	48,086	-376
260 SHS ISHARES	2010-02	PURCHASE	2014-05	17,420	12,438	4,982
968 SHS USHARES TR	2010-12	PURCHASE	2014-05	57,737	60,681	-2,944
2900 SHS NETAPP	2012-02	PURCHASE	2014-03	106,032	115,819	-9,787
300 SHS SM ENERGY	2012-07	PURCHASE	2014-02	21,277	15,348	5,929
AM INTERNATIOL SETTLEMENT	2013-01	PURCHASE	2014-12	967		967
2500 SHS CIVIDIEN PLC	2010-11	PURCHASE	2014-09	227,511	91,940	135,571
ENRON CORP DELISTED	2012-01	PURCHASE	2014-01	27		27
HALYARD HEALTH CASH IN LIEU	2012-01	PURCHASE	2014-11	19		19
PARAGON CASH IN LIEU	2012-01	PURCHASE	2014-08	6		6
666 SHS PARAGON	2004-01	PURCHASE	2014-12	1,795	4,612	-2,817
1000 SHS PETSMART	2012-01	PURCHASE	2014-01	65,788	27,208	38,580
CASH RECEIPTS SEC SETTLEMENT	2012-01	PURCHASE	2014-08	23		23

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Name of Stock	End of Year Book Value	End of Year Fair Market Value
1300 SHS ABBVIE	29,104	85,072
2200 SHS ABOTT LABS	62,736	99,044
2500 SHS ADOBE SYS	85,544	181,750
3000 SHS AKAMAI	141,430	188,880
1600 SHS ANADARKO	68,904	132,000
2800 SHS APPLE	35,030	309,064
2900 SHS B BARNES	77,789	107,329
8500 SHS CAPITOL FEDERAL	99,401	108,630
3500 SHS CACOT OIL & GAS	135,323	103,635
3200 SHS CELGENE	91,281	357,952
3500 SHS CITRIX SYS	211,500	223,300
3000 SHS COCA-COLA	68,111	126,660
2000 SHS COLGATE PALMOLIVE	25,875	138,380
3800 SHS COPART, INC	129,871	138,662
2500 SHS COVIDIEN
2300 SHS CVS	88,090	221,513
1600 SHS DANAHER CORP	85,553	137,136
2400 SHS DENTSPLY	69,380	127,848
2200 SHS EBAY, INC	124,853	123,464
3100 SHS EMC CORP	84,844	92,194
1000 SHS EXXON MOBIL CORP	24,089	92,450
3900 SHS GENERAL ELECTRIC	92,105	98,553
6700 SHS GLACIER BANKCORP	94,564	186,059
5100 SHS GULFPORT	106,771	212,874
1900 HCC INS	49,392	101,688
1500 SHS HOME DEPOT	28,182	157,455
187 SHS HYH HALYARD	1,591	8,503
1700 SHS HONEYWELL INTL	159,482	169,864
1848 SHS JPMORGAN CHASE & CO.	56,395	115,648
1500 SHS KIMBERLY CLARK	77,285	173,310
2100 SHS KOHLS	98,290	128,184
2100 SHS KRAFT FOODS	95,448	131,586
LKCM SMALL CAP EQUITY FUND	900,678	1,112,048
2200 SHS MACYS INC	133,478	144,650
3100 SHS MERCK	137,317	176,049
4000 SHS MONDELEZ	110,695	145,300
3000 SHS METLIFE	113,259	162,270
2000 SHS NOBLE	32,839	33,140
2900 SHS NETAPP INC
2000 SHS PEPSICO	66,000	189,120
1000 SHS PETSMART
4800 SHS PFIZER	82,374	149,520
1462 SHS PROCTER & GAMBLE	53,570	133,174
2400 SHS RANGE RES	60,045	128,280
1200 SHS SCHLUMBERGER LTD - SPINOFF	31,650	102,492
1000 SHS SM ENERGY	38,197	38,580
1800 SHS TIFFANY	101,408	192,348
2200 SHS THERMO FISHER	71,021	275,638
3500 SHS TRIMBLE NAV	121,207	92,890
2000 SHS VERIZON	74,020	93,560
468 SHS AMBASE CORP	8,600	8,600
110 SHS EXELON	3,370	3,370
2000 SHS DIPLOMAT ELECTRONICS	12,000	12,000
4000 SHS HALLIBURTON CO	70,717	70,717
200 SHS HIGHLAND INSURANCE	3,402	3,402
1200 SHS WHIRLPOOL	92,046	232,488
3200 SHS WILLIAMS CO	56,496	143,808
5500 SHS ZIONS	113,425	156,805
4000 SHS US BANCORP	87,211	179,800

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
WALSH HOLDINGS, LTD	AT COST	115,842	115,842
MINERAL INTERESTS	AT COST	10	10
COLUMBIA FUNDS	AT COST
EGSHARE EMERGING MKT	AT COST	35,656	32,689
ISHARES PACIFIC JAPAN	AT COST
COLUMBIA GOV RESERVES	AT COST
ISHARES INDONESIA	AT COST	6,347	6,311
ISHARES S&P LATIN AMER	AT COST
ISHARES MSCI MEXICO	AT COST	21,751	24,944
ISHARES MSCI ASIA	AT COST
ISHARES MSCI CANADA	AT COST
ISHARES MSCI EMERG VOLETF	AT COST
ARTISIAN INT'L FUND	AT COST
ARTISIAN INT'L VALUE FD	AT COST
DELAWARE EMERGING	AT COST
JAPAN HEDGE	AT COST
ISHARES MSCI GERMANY	AT COST
ISHARES MSCI SINGAPORE	AT COST
ISHARES MSCI TAIWAN	AT COST	35,387	37,186
ISHARES S&P EUROPE	AT COST
COLUMBIA EMERGING MKT FD	AT COST
ISHARES MSCI POLAND	AT COST	5,175	4,212
ISHARES MALAYSIA	AT COST	9,531	8,358
ISHARES SO KOREA	AT COST	90,646	83,211
ISHARES BRAZIL	AT COST	30,678	23,259
ISHARES CHINA	AT COST	47,006	51,846
ISHARES INDIA	AT COST	18,342	18,419
CHEUNG KONG HLDS	AT COST	31,736	30,396
HAIER ELECTRONICS	AT COST	25,829	23,995
AIA GROUP	AT COST	30,198	33,313
SANDS CHINA	AT COST	34,890	24,927
PING AN INS GP	AT COST	27,852	37,271
KUBOTO CORP	AT COST	24,141	25,043
FANUC CORP	AT COST	29,005	27,781
TENCENT HLDS	AT COST	27,158	26,156
MITSUBISHI	AT COST	33,012	29,371
CHINA MOBILE	AT COST	28,319	30,937
AMSL HLDGS	AT COST	22,706	27,820
ASSA ABLOY	AT COST	26,886	27,501
AVAGO TECH	AT COST	23,399	31,183
BHP BILLITON	AT COST	31,933	23,423
BAYER MOTOREN WERK	AT COST	27,888	25,310
ANHEUSER BUSH	AT COST	29,545	29,989
CIE FINANCE RICH	AT COST	31,674	30,129
CORE LAB NV	AT COST	21,701	22,624
CANADIAN NATL RAILWAY	AT COST	19,832	21,500
COLOPLAST	AT COST	31,066	30,362
CADIAN PAC RY	AT COST	20,925	22,930
CTRIP COM INTL	AT COST	32,072	26,481
ESSILOR INTL	AT COST	25,931	26,692
ENI SPA	AT COST	23,787	16,522
EXPERIAN GP	AT COST	24,918	24,390
ICIC BANK	AT COST	24,329	27,200
JARDINE MATHESON HLDG	AT COST	28,550	28,586
NESTLE SA	AT COST	25,054	23,787
NOVA-NORDISK	AT COST	35,237	33,475
NOVOZYMES	AT COST	29,251	25,711
ONIEX CORP	AT COST	33,674	34,080
ROCHE HLDG LTD	AT COST	31,432	25,690
SABMILLER PLC	AT COST	27,805	26,566
SANOFI POONS	AT COST	32,231	28,233
STANDARD CHATERED	AT COST	34,539	28,617
SUNCOR ENERGY	AT COST	35,119	29,397
TOYOTA MOTOR	AT COST	29,094	31,997
TOTAL SA	AT COST	32,070	24,115
TAIWAN SEMICONDUCTOR	AT COST	27,245	29,407
UNILEVER PLC	AT COST	26,188	24,162
VALEANT PHARMA	AT COST	25,713	29,481
APPLE INC	AT COST	9,847	12,252
ABBVIE	AT COST	11,612	14,135
ADP	AT COST	8,666	10,421
AMEREN CORP	AT COST	22,949	27,078
GALLAGHER AJ	AT COST	9,014	9,322
ASTRAZENECA	AT COST	9,530	9,361
BAE SYS	AT COST	22,702	23,640
BASF	AT COST	20,872	15,982
BCE INC	AT COST	30,417	30,680
BHP BILLITON	AT COST	11,598	7,808
BRITISH AMERN	AT COST	19,096	17,359
CME GP	AT COST	21,031	25,354
COMPASS GP	AT COST	13,293	12,772
COMMONWEALTH BK	AT COST	11,998	11,145
CONOCOPHILLIPS	AT COST	16,945	14,503
CENTRICA PLC	AT COST	22,299	17,975
CENTURYLINK	AT COST	22,981	23,985
CORRECTIONS CORP	AT COST	18,487	20,169
DOMINION RES	AT COST	8,688	9,689
DUPONT	AT COST	9,558	10,721
DAIMIER	AT COST	20,846	19,446
DOW CHEM	AT COST	14,845	13,455
DEUTSCHE	AT COST	9,098	8,509
DEUTSCHE TELECOM	AT COST	26,321	25,235
DUKE ENERGY	AT COST	24,576	28,738
EECTRICITE	AT COST	26,254	20,429
GLAXOSMITHKLINE	AT COST	28,287	22,866
HEALTH CARE REIT	AT COST	24,536	28,982
IMPERIAL TOBACCO	AT COST	32,530	32,016
JOHNSON JOHNSON	AT COST	9,732	10,039
KLA TENCOR	AT COST	9,520	9,774
KIMBERLY CLARK	AT COST	13,617	15,020
KINDER MORGAN	AT COST	24,895	26,571
LOCKHEED MARTIN	AT COST	14,696	17,524
LORILLARD	AT COST	27,810	29,267
MATTEL INC	AT COST	13,420	10,924
MCDONALDS	AT COST	10,276	9,651
MICROCHIP	AT COST	11,203	10,736
ALTRIA GP	AT COST	27,422	32,912
MERCK & CO	AT COST	11,092	11,074
WM MORIRSON	AT COST	10,306	10,182
MICROSOFT	AT COST	10,542	11,938
MUNICH REGROUP	AT COST	25,091	24,088
NATIONAL GRID PIC	AT COST	29,270	28,052
NESTLE SA	AT COST	9,836	9,324
NOVARTIS	AT COST	16,238	16,957
ORKLA	AT COST	14,919	11,359
OCCIDENTIAL PETE	AT COST	12,029	11,688
PEOPLES UTD	AT COST	10,506	10,747
PEPSICO	AT COST	8,909	9,645
PHILLIPPINE LD	AT COST	9,802	9,114
PHILLIP MORRIS	AT COST	19,374	18,652
POTASH	AT COST	20,222	20,380
PPL CORP	AT COST	23,818	25,794
PEARSON	AT COST	13,274	12,675
REYNOLDS	AT COST	27,927	30,978
ROGERS COMM	AT COST	12,609	12,202
ROYAL DUTCH	AT COST	27,262	22,696
REGAL ENTMT	AT COST	11,011	11,898
ROCHE HLDGS	AT COST	11,824	10,899
RIO TINTO	AT COST	11,325	9,350
DONNELLEY RR	AT COST	10,780	11,411
SWISSCOM	AT COST	29,971	26,765
SHAW COMM	AT COST	13,233	14,251
SANOFI	AT COST	11,285	9,761
SOUTHERN CO	AT COST	11,647	13,161
SPDR S&P	AT COST	27,633	29,392
SSE PLC	AT COST	28,111	27,668
STATOIL	AT COST	14,527	8,594
SEVERN TRENT	AT COST	12,134	11,542
SEAGATE TECH	AT COST	11,728	12,369
SVENSKA	AT COST	12,261	11,801
AT&T	AT COST	27,094	25,461
TECO ENERGY	AT COST	18,286	21,474
TERNA RETE	AT COST	25,327	21,734
TELSTRA	AT COST	24,789	24,281
TOTAL SA	AT COST	30,299	22,426
UNILEVER	AT COST	12,251	11,051
UNIBAIL	AT COST	16,075	15,196
UNITED UTLIS	AT COST	26,755	26,309
VINCI	AT COST	26,894	21,036
VEVENDI	AT COST	14,720	14,596
VODAPHONE	AT COST	27,864	27,812
VERIZON	AT COST	26,773	25,214
WESTPAC	AT COST	13,412	11,325
WISCONSIN ENERGY	AT COST	9,470	11,181
WELLS FARGO	AT COST	13,305	14,527
WASTE MGMT	AT COST	9,026	10,521
WOLTERS KLUWER	AT COST	9,315	10,153
YARA INTL	AT COST	15,504	14,647

- TIN:

TY 2014 LandEtcSchedule2

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
OFFICE EQUIPMENT	4,627	4,627

- TIN:

TY 2014 OtherAssetsSchedule

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
PREPAID TAXES		2,400	2,400

- TIN:

TY 2014 OtherExpensesSchedule

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXPENSES
ADMINISTRATIVE EXPENSE	45,679
US TRUST BANK FEES	23,089
WAKSH K-1 ORD	148

- TIN:

TY 2014 OtherIncomeSchedule2

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Description	Revenue And Expenses Per Books	Net Investment Income
OIL & GAS ROYALTIES	159,601	159,601
SECTION 1231 - WALSH K-1	92
ORD INC - WALSH K-1	-2,673

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Description	Amount

- TIN:

TY 2014 TaxesSchedule

Name:

THE WALSH FOUNDATION

EIN: 75-6021726

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PRODUCTION TAX	7,638
OTHER TAX	8,281