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
THE HORACE SMITH FUND
 

Number and street (or P.O. box number if mail is not delivered to street address)1441 MAIN STREET   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SPRINGFIELD, MA01103
A Employer identification number

04-2235130
B Telephone number (see instructions)

(413) 739-4222
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$7,453,816J 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).............. 25,050
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 163,042 163,042  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 184,772
b Gross sales price for all assets on line 6a 1,796,601
7 Capital gain net income (from Part IV, line 2)... 184,772
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 2,910 442 2,910
12 Total. Add lines 1 through 11........ 375,774 348,256 2,910
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 78,668 3,933 3,933 70,801
14 Other employee salaries and wages...... 7,592 380 380 6,833
15 Pension plans, employee benefits....... 27,550 1,378 1,378 24,794
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 12,000 6,000   6,000
c Other professional fees (attach schedule).... Click to see attachment 48,767 48,767    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 6,596 526   70
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,961   3,961
20 Occupancy.............. 10,065   4,026 6,039
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 17,247   7,127 10,122
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 212,446 60,984 20,805 124,659
25 Contributions, gifts, grants paid........ 254,050 254,050
26 Total expenses and disbursements. Add lines 24 and 25 466,496 60,984 20,805 378,709
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -90,722
b Net investment income (if negative, enter -0-) 287,272
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............... 8,893 16,675 16,675
2 Savings and temporary cash investments.......... 135,869 138,974 138,974
3 Accounts receivable bullet11,296
Less: allowance for doubtful accounts bullet5,000 8,817 6,296 6,296
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges........... 3,078 2,616 2,616
10a Investments—U.S. and state government obligations (attach schedule) 1,119,347 Click to see attachment1,245,798 1,232,249
b Investments—corporate stock (attach schedule)........ 4,584,242 Click to see attachment4,270,307 5,196,006
c Investments—corporate bonds (attach schedule)........ 768,231 Click to see attachment818,771 823,785
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 bullet53,773
Less: accumulated depreciation (attach schedule) bullet47,810 9,902 Click to see attachment5,963 5,963
15 Other assets (describe bullet) Click to see attachment12,057 Click to see attachment31,252 Click to see attachment31,252
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,650,436 6,536,652 7,453,816
Liabilities 17 Accounts payable and accrued expenses.......... 22,029 883
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 22,029 883
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 6,628,407 6,535,769
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)...... 6,628,407 6,535,769
31 Total liabilities and net assets/fund balances (see instructions).. 6,650,436 6,536,652
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 6,628,407
2 Enter amount from Part I, line 27a..................... 2 -90,722
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 6,537,685
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 1,916
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 6,535,769
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 PUBLICLY TRADED SECURITIES P    
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 1,742,149   1,611,829 130,320
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       130,320
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 184,772
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 3 130,320
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 363,617 6,910,251 0.052620
2012 310,503 6,470,460 0.047988
2011 367,172 6,261,707 0.058638
2010 331,932 6,148,587 0.053985
2009 342,958 5,729,426 0.059859
2 Total of line 1, column (d) ...................... 2 0.273090
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 0.054618
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 7,267,276
5 Multiply line 4 by line 3....................... 5 396,924
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 2,873
7 Add lines 5 and 6......................... 7 399,797
8 Enter qualifying distributions from Part XII, line 4.............. 8 378,709
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 5,745
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 5,745
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 5,745
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 26,040
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 26,040
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 20,295
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet5,760 RefundedBullet 11 14,535
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
 
 
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.HORACESMITHFUND.ORG
    14
    The books are in care ofbulletTHE HORACE SMITH FUND Telephone no.bullet (413) 739-4222
    Located atbullet1441 MAIN STREETSPRINGFIELDMA ZIP+4bullet01103
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    PATRICIA A SANTANIELLO ASST. TREASU
    1.00     		1,210 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    ANNE MAHONEY VP FUND ADMN
    40.00     		50,349 10,688 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    TERESA REGINA TRUSTEE
    1.00     		0 0 0
    1441 MAIN STTREET
    SPRINGFIELD,MA01103
    MICHAEL E TUCKER TRUSTEE
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    JAMES W BRODERICK JR TREASURER
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    KATHLEEN BOURQUE TRUSTEE
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    JEROME LINEHAN TRUSTEE
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    WAYNE L WEBSTER PRESIDENT
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    SAMALID HOGAN TRUSTEE
    1.00     		0 0 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    JOSEPHINE SARNELLI CLERK/ EXEC
    15.00     		27,109 10,289 0
    1441 MAIN STREET
    SPRINGFIELD,MA01103
    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 SCHOLARSHIPS AWARDED TO ELIGIBLE STUDENTS. FOR THE SCHOOL YEAR BEGINNING SEPTEMBER 2014, 82 SCHOLARSHIPS OF 2,500 EACH WERE AWARDED. SOME RECIPIENTS ONLY ATTENDED COLLEGE FOR ONE HALF OF THE YEAR, SO RECEIVED ONLY 1,250. SCHOLARSHIPS AWARDED - 228,750 OTHER DISBURSEMENTS FOR CHARITABLE PURPOSES - 107,137 107,137
    2 FELLOWSHIPS AWARDED TO ELIGIBLE STUDENTS. FOR THE SCHOOL YEAR BEGINNING SEPTEMBER 2014, 5 FELLOWSHIPS OF 4,000 EACH WERE AWARDED. TWO RECIPIENT ATTENDED COLLEGE FOR ONE HALF OF THE YEAR, SO ONLY RECEIVED 4,000. FELLOWSHIPS AWARDED - 25,300 OTHER DISBURSEMENTS FOR CHARITABLE PURPOSES - 17,522 17,522
    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
    7,156,129
    b
    Average of monthly cash balances.......................
    1b
    188,102
    c
    Fair market value of all other assets (see instructions)................
    1c
    33,714
    d
    Total (add lines 1a, b, and c).........................
    1d
    7,377,945
    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
    7,377,945
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    110,669
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    7,267,276
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    363,364
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    363,364
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    5,745
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,745
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    357,619
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    357,619
    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
    357,619
    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
    378,709
    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
    378,709
    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
    378,709
    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 7 357,619
    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....... 59,163
    b From 2010....... 29,741
    c From 2011....... 58,935
    d From 2012.......  
    e From 2013....... 44,133
    fTotal of lines 3a through e......... 191,972
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 378,709
    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..... 357,619
    e Remaining amount distributed out of corpus 21,090
    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 5 213,062
    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) ...     		59,163
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		153,899
    10 Analysis of line 9:
    a Excess from 2010.... 29,741
    b Excess from 2011.... 58,935
    c Excess from 2012....  
    d Excess from 2013.... 44,133
    e Excess from 2014.... 21,090
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    THE HORACE SMITH FUND
    1441 MAIN STREET SUITE 620
    SPRINGFIELD,MA01103
    (413) 739-4222
    bThe form in which applications should be submitted and information and materials they should include:
    THERE ARE THREE ASSISTANCE PROGRAMS OFFERED THROUGH THE HORACE SMITH FUND. DETAILED INFORMATION IS AVAILABLE ONLINE AT WWW.HORACESMITHFUND.ORG. STUDENTS MAY APPLY FOR THE WALTER S BARR SCHOLARSHIP AVAILABLE TO HIGH SCHOOL SENIORS WHO WILL BE ENTERING COLLEGE FOR THE FIRST TIME. COLLEGE STUDENTS CONTINUING THEIR STUDIES IN COLLEGE MAY APPLY FOR THE WALTER S BARR COLLEGE SCHOLARSHIP. STUDENTS CONTINIUNG THEIR EDUCATION IN GRADUATE SCHOOL MAY APPLY FOR THE WALTER S BARR FELLOWSHIP. EACH APPLICATION MAY BE MADE ONLINE AT THE FUND'S WEBSITE OR SUBMITTED IN WRITING. EACH APPLICATION MUST BE ACCOMPANIED BY THREE REFERENCES FROM UNRELATED INDIVIDUALS, A FINANCIAL STATEMENT OR A FEDERAL STUDENT AID APPLICATION. OTHER REQUIREMENTS ARE SPELLED OUT ON THE WEBSITE.
    cAny submission deadlines:
    APPLICATION DEADLINES ARE DECEMBER 20TH FOR SCHOLARSHIPS AND FEBRUARY 1ST FOR THE FELLOWSHIP.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    BARR SCHOLARSHIPS ARE AVAILABLE TO STUDENTS LIVING IN HAMPDEN COUNTY, MASSACHUSETTS SEEKING A COLLEGE EDUCATION. APPLICANTS MUST BE GRADUATES OF HAMPDEN COUNTY, MASSACHUSETTS SECONDARY SCHOOLS. FELLOWSHIP APPLICANTS MUST BE RESIDENTS OF HAMPDEN COUNTY OR QUALIFIED FORMER RESIDENTS. IT IS THE POLICY OF THE FUND TO PROVIDE SUPPLEMENTARY AID WHERE OTHER RESOURCES AVAILABLE TO THE PROSPECTIVE STUDENT ARE NOT ADEQUATE TO CARRY OUT THE PLANNED EDUCATIONAL PROGRAM.
    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
    SCHOLARSHIP RECIPIENTS
    1441 MAIN STREET
    SPRINGFIELD,MA01103     		NONE INDIVIDUAL SCHOLARSHIPS 228,750
    FELLOWSHIP RECIPIENTS
    1441 MAIN STREET
    SPRINGFIELD,MA01103     		NONE INDIVIDUAL FELLOWSHIPS 25,300
    Total .................................bullet 3a 254,050
    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 ............     		         
    4 Dividends and interest from securities....     14 101,850 61,192
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		    14 184,772  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aSTUDENT LOANS INTEREST         442
    bCOLLECTIONS RECEIVED ON          
    cSTUDENT LOANS         1,916
    dMISCELLANEOUS INCOME         552
    e
    12 Subtotal. Add columns (b), (d), and (e)..   286,622 64,102
    13Total. Add line 12, columns (b), (d), and (e)..................
    13350,724
    (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.)
    11B INCOME ALLOWED FUND TO INCREASE SCHOLARSHIPS AWARDED
    11B INTEREST INCOME REINVESTED TO INCREASE SCHOLARSHIPS
    11B PAYMENTS RECEIVED ALLOWS FUND TO AWARD MORE SCHOLARSHIPS
    11B INCREASED AMOUNTS AVAILABLE FOR SCHOLARSHIPS
    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

    TY 2014 AccountingFeesSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL SERVICES 12,000 6,000   6,000

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

    TY 2014 DepreciationSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    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
    COMPUTER-8 PORT ETHERNET HUB 1997-12-15 150 150 S/L 5.0000        
    TELEPHONE 1998-08-11 300 300 S/L 7.0000        
    PLAIN PAPER FAX 1998-07-09 230 230 S/L 5.0000        
    LOAN PROCESSING SOFTWARE 1999-01-31 28,026 28,026 S/L 3.0000        
    FIREPROOF FILE CABINET 2005-05-04 670 670 S/L 5.0000        
    FIREPROOF FILE CABINET 2005-12-30 480 480 S/L 5.0000        
    XEROX PRINTER 2007-05-21 609 609 S/L 5.0000        
    SERVER 2010-11-03 3,325 2,328 S/L 5.0000 665   665  
    SMART UPS 2010-12-08 872 610 S/L 5.0000 175   175  
    2 COMPUTERS 2011-09-26 1,499 750 S/L 5.0000 299   299  
    LAPTOP 2011-09-26 5,037 2,519 S/L 5.0000 1,007   1,007  
    COMPUTERS 2006-04-21 2,708 2,708 S/L 5.0000        
    WEB SITE DESIGN 2011-10-01 4,750 3,958   3.0000 792   792  
    KONICA 2014-03-13 5,117 512 S/L 5.0000 1,023   1,023  

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ANHEUSER-BUSCH, 1.375%, 07/15/2017 45,417 45,278
    AT&T INC, 4.45%, 05/15/21    
    BANK OF NOVA SCOTIA, 2.38%, 12/17/13 40,057 40,140
    BERKSHIRE HATHAWAY, 5.40%, 05/15/18 61,871 61,930
    CATERPILLAR FINL SE 2.05% 08/01/2016 46,378 45,808
    CISCO SYSTEMS INC, 4.95%, 02/15/19 33,166 33,753
    COCA COLA CO, 1.50%, 11/15/15 54,100 55,377
    COMCAST CORP 2.85% 01/15/2023 29,700 30,505
    GE CAPITAL CORP 1.625% 07/02/2015    
    GE CAPITAL CORP, 5.63%, 09/15/17 60,503 60,818
    JPMORGAN CHASE & CO, 6.00%, 01/15/18 60,804 61,520
    ONTARIO PROVINCE OF 1.65% 09/27/2019 59,358 60,238
    ONTARIO PROVINCE, 2.95%, 02/05/15    
    PFIZER INC NOTES 5.35% 03/15/2015    
    PROVINCE OF QUEBEC, 2.75%, 08/25/21 45,059 46,968
    SBC COMMUNICATIONS, 5.10%, 09/15/14    
    TOYOTA MOTOR CREDIT 2.00% 09/15/2016 30,935 30,586
    WACHOVIA CORP, 5.75%, 02/01/18 62,614 61,503
    WAL-MART STORES 1.50% 10/25/2015 48,229 48,198
    US BANCORP 1.95% 11/15/18 20,029 20,312
    GE CAPITAL CORP 3.45% 05/15/2024 15,868 15,797
    TDAM 5-10 YR CORP BOND PORTFOLIO 66,384 66,768
    TDAM 1-5 CORP BOND PORTFOLIO 38,299 38,286

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 50,177 78,298
    ABBVIE, INC. 59,524 72,590
    AETNA, INC.    
    AGILENT TECHNOLOGIES, INC. 59,448 64,403
    AMERICAN EXPRESS CO 46,118 67,964
    AMERICAN INTERNATIONAL GROUP 75,927 83,281
    AMERIPRISE FINANCIAL, INC. 70,960 83,738
    AMERISOURCEBERGEN CORP 28,243 47,741
    ANADARKO PETROLEUM CORP 47,022 48,030
    APPLE COMPUTER, INC. 107,818 189,134
    APPLIED MATERIALS, INC. 55,595 73,320
    BLACKROCK, INC. 109,095 131,702
    BOEING COMPANY 103,477 141,075
    BUFFALO SMALL CAP FD 1444    
    CAMERON INTERNATIONAL CORPORATION 44,902 35,194
    CAPITAL ONE FINANCIAL GROUP    
    CENTURYLINK, INC. 57,941 65,300
    CHECK POINT SOFTWARE TECH LTD 54,919 76,232
    CITIZENS FINANCIAL GROUP 31,166 31,166
    CIT GROUP, INC. 80,197 73,997
    CITIGROUP, INC. 76,462 78,826
    CITRIX SYSTEMS, INC. 57,737 64,509
    CME GROUP, INC. 92,446 109,864
    COLGATE PALMOLIVE CO 26,053 46,458
    COMCAST CORP NEW CL A 37,974 41,488
    CVS CAREMARK CORPORATION 55,681 86,696
    DANAHER CORP SHS BEN INT 62,766 101,031
    DAVITA HEALTH CARE PARTNERS, INC.    
    DELPHI AUTOMOTIVE PLC    
    DEVON ENERGY CORPORATION 51,347 51,867
    E.I. DUPONT DE NEMOURS AND CO 59,653 71,470
    ECOLAB INC 6,682 16,013
    ELECTRONIC ARTS, INC.    
    EVERSOURCE ENERGY 53,266 62,645
    EXXON MOBIL CORP 49,194 62,050
    FIDELITY NATIONAL INFORMATION SERVIC 67,018 89,839
    GENERAL MOTORS COMPANY    
    GENUINE PARTS COMPANY 40,010 44,731
    HARBOR INTL FD INST CL FUND 11 250,000 297,344
    HARTFORD MUTUAL FD INC MDCP CL Y    
    HOME DEPOT INC 61,569 87,480
    IBM CORP 59,719 72,137
    INGERSOLL-RAND PLC 52,260 65,357
    INTERNATIONAL GAME TECHNOLOGY    
    INVESCO INTL GROWTH FD INST 250,000 315,976
    J.M. SMUCKER COMPANY    
    KOHL'S CORP 39,435 60,253
    LAS VEGAS SANDS CORP 20,376 18,163
    MARSH & MCLENNAN COMPANIES, INC. 70,763 86,379
    MCDONALD'S CORP. 68,143 70,157
    METLIFE, INC. 61,838 59,144
    MICROSOFT CORP 95,220 136,194
    MORGAN STANLEY 58,756 66,740
    NATIONAL OILWELL VARCO, INC.    
    NEXTERA ENERGY INC    
    NORTHEAST UTILITIES    
    NORTHERN TRUST CORPORATION 58,752 67,561
    OCCIDENTAL PETROLEUM CORP 77,056 64,240
    ORACLE CORP 76,194 107,444
    PEPSICO, INC. 62,660 72,671
    PERKINS MID CAP VALUE FUND    
    PRAXAIR, INC. 79,202 76,066
    ROCKWELL COLLINS, INC. 67,393 83,999
    ROYCE SPECIAL EQUITY FD 327    
    SEAGATE TECHNOLOGY PLC 58,952 61,916
    STAPLES, INC.    
    SYNCHRONY FINANCIAL 21,188 19,728
    SYNCHRONY FINANCIAL 20,697 20,697
    TDAM US SMALL-MID CAP EQUITY 338,549 343,191
    TEXAS INSTRUMENTS, INC. 75,926 102,361
    TIME WARNER 68,908 91,195
    TJX COMPANIES INC 68,543 91,766
    TRANSOCEAN LTD ZUG NAMEN AKT    
    UNITED TECHNOLOGIES 62,207 66,804
    UNITEDHEALTH GROUP, INC. 75,476 121,839
    VISA, INC. 91,914 107,272
    WISCONSIN ENERGY CORP 59,793 71,280

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    US Government Securities - End of Year Book Value:

    1,245,798
    US Government Securities - End of Year Fair Market Value:

    1,232,249
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2014 LandEtcSchedule2
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND BUILDINGS AND EQUIMENT 53,773 47,810 5,963 5,963


    TY 2014 OtherAssetsSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INTEREST - INVESTMENTS 12,050 11,749 11,749
    ACCRUED INTEREST - STUDENT LOANS 7    
    REFUNDABLE EXCISE TAX   19,503 19,503


    TY 2014 OtherDecreasesSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Description Amount
       
       


    TY 2014 OtherExpensesSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    ADVERTISING 384     384
    COMPUTER EXPENSES 3,413   1,365 2,048
    DUES 355     355
    INSURANCE 2,934   1,174 1,761
    MEALS AND ENTERTAINMENT 477     477
    MISCELLANEOUS 3,974   1,590 2,384
    OFFICE EXPENSE 1,937   775 1,162
    PARKING 1,380   1,380  
    POSTAGE 287     287
    TELEPHONE 2,106   843 1,264


    TY 2014 OtherIncomeSchedule2
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    STUDENT LOANS INTEREST 442 442 442
    STUDENT LOANS 1,916   1,916
    MISCELLANEOUS INCOME 552   552


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AGENT FEES - BANKNORTH 48,767 48,767    


    TY 2014 TaxesSchedule
    Name:
    THE HORACE SMITH FUND
    EIN: 04-2235130
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX EXPENSE 70     70
    FEDERAL EXCISE TAXES 6,000      
    FOREIGN EXCISE TAXES 526 526