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
LUCILLE AND JOHN B DOUGHERTY TRUST
% WELLS FARGO BANK NA

Number and street (or P.O. box number if mail is not delivered to street address)1 W 4TH STREET MAC D4000-041   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WINSTONSALEM, NC27101
A Employer identification number

26-1444071
B Telephone number (see instructions)

(979) 776-3267
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$5,578,139J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 145,444 141,640  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 23,189
b Gross sales price for all assets on line 6a 2,940,412
7 Capital gain net income (from Part IV, line 2)... 23,189
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 66,592 66,592  
12 Total. Add lines 1 through 11........ 235,225 231,421  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 73,255 54,941   18,314
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 4,660 0   4,660
c Other professional fees (attach schedule).... Click to see attachment 5,417 0   5,417
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 4,053 4,053   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 4,665 4,665   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 92,050 63,659   28,391
25 Contributions, gifts, grants paid........ 284,750 284,750
26 Total expenses and disbursements. Add lines 24 and 25 376,800 63,659   313,141
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -141,575
b Net investment income (if negative, enter -0-) 167,762
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 657,100 240,638 240,638
3 Accounts receivable bullet21,303
Less: allowance for doubtful accounts bullet   3,080 21,303 21,303
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 665,847 Click to see attachment540,500 535,085
b Investments—corporate stock (attach schedule)........ 170,340 Click to see attachment619,917 760,426
c Investments—corporate bonds (attach schedule)........ 1,164,616 Click to see attachment546,571 544,867
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 2,531,988 Click to see attachment3,086,577 3,475,820
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 5,192,971 5,055,506 5,578,139
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 5,192,971 5,055,506
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)...... 5,192,971 5,055,506
31 Total liabilities and net assets/fund balances (see instructions).. 5,192,971 5,055,506
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 5,192,971
2 Enter amount from Part I, line 27a..................... 2 -141,575
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 14,127
4 Add lines 1, 2, and 3.......................... 4 5,065,523
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 10,017
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 5,055,506
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 3M CO   2010-12-20 2014-09-22
b AFLAC INC   2011-03-08 2014-06-09
c ALLY MASTER OWNER TR 1.44%   2013-06-28 2014-10-09
d ALLY MASTER OWNER TR 1.54%   2012-12-11 2014-10-09
e AMERICAN EXPRESS 2.80%   2013-08-22 2014-12-12
AMGEN INC 2.125%   2012-12-11 2014-12-12
AQR MANAGED FUTURES   2014-10-10 2014-12-15
ASG GLOBAL ALTERNATIVES   2013-10-24 2014-12-15
BEAR STEARNS CO 4.65%   2010-08-24 2014-12-12
BHP BILLITON LIMITED   2014-10-03 2014-12-15
BHP BILLITON LIMITED   2010-12-20 2014-12-15
CAPITAL ONE FINANCIAL CORP   2011-03-08 2014-03-25
CELGENE CORP 2.45%   2012-12-11 2014-12-12
CHEVRON CORP   2006-11-16 2014-12-15
CHEVRON CORP   2014-10-09 2014-12-15
CHEVRON CORP   2014-10-03 2014-12-15
COACH INC   2013-01-29 2014-09-11
COSTCO WHOLESALE 5.50%   2009-02-23 2014-12-12
CREDIT SUISSE COMM RT   2013-02-07 2014-04-23
DRIEHAUS ACTIVE INCOME FUND   2013-10-24 2014-10-10
DRIEHAUS ACTIVE INCOME FUND   2013-08-09 2014-10-10
DRIEHAUS ACTIVE INCOME FUND   2013-06-03 2014-10-10
DRIEHAUS ACTIVE INCOME FUND   2013-04-16 2014-10-10
DRIEHAUS ACTIVE INCOME FUND   2013-03-12 2014-10-10
DUKE ENERGY 5.30%   2008-10-27 2014-12-12
E TRACS ALERIAN MLP INFRASTRUCTURE   2014-10-03 2014-12-15
EATON VANCE GLOBAL MACRO   2014-10-03 2014-10-10
EATON VANCE GLOBAL MACRO   2013-08-09 2014-10-10
EATON VANCE GLOBAL MACRO   2013-07-05 2014-10-10
EATON VANCE GLOBAL MACRO   2014-01-22 2014-10-10
EBAY INC 3.25%   2012-12-07 2014-12-12
ECOLAB 3.00%   2012-12-11 2014-11-24
FED HOME LN MTG CORP 4.50%   2008-10-23 2014-01-15
FREEPORT MCMORAN 2.15%   2012-04-26 2014-11-24
GATEWAY FUND   2010-06-29 2014-12-15
GATEWAY FUND   2014-01-22 2014-12-15
GILEAD SCIENCES   2011-12-08 2014-09-22
GILEAD SCIENCES 3.05%   2012-12-11 2014-12-12
GOOGLE INC   2012-08-30 2014-04-25
ISHARES S&P 500 INDEX FUND   2013-05-30 2014-12-15
ISHARES S&P 500 INDEX FUND   2014-10-09 2014-12-15
ISHARES S&P 500 INDEX FUND   2014-10-03 2014-12-15
ISHARES S&P 500 INDEX FUND   2013-04-12 2014-12-15
ISHARES S&P 500 INDEX FUND   2013-03-08 2014-12-15
ISHARES S&P 500 INDEX FUND   2013-02-05 2014-12-15
ISHARES S&P MIDCAP 400 GROWTH   2013-04-12 2014-04-23
ISHARES S&P MIDCAP 400 GROWTH   2013-03-08 2014-04-23
ISHARES S&P MIDCAP 400 GROWTH   2013-10-22 2014-04-23
ISHARES S&P MIDCAP 400 GROWTH   2014-01-22 2014-04-23
ISHARES S&P MIDCAP 400 GROWTH   2013-08-07 2014-04-23
ISHARES S&P mIDCAP 400 GROWTH   2014-10-03 2014-12-15
JPMORGAN HIGH YIELD FUND   2014-01-22 2014-10-03
JPMORGAN HIGH YIELD FUND   2014-04-25 2014-10-03
KELLOGG CO 1.75%   2012-12-11 2014-12-12
LAUDUS MONDRIAN INTL   2013-06-03 2014-04-23
LAUDUS MONDRIAN INTL   2014-01-22 2014-04-23
LAUDUS MONDRIAN INTL   2013-10-24 2014-04-23
LAUDUS MONDRIAN INTL   2013-08-09 2014-04-23
LAUDUS MONDRIAN INTL   2013-07-05 2014-04-23
LAUDUS MONDRIAN INTL   2013-02-07 2014-04-23
LAUDUS MONDRIAN INTL   2013-03-12 2014-04-23
LAUDUS MONDRIAN INTL   2013-04-16 2014-04-23
LLOYDS TSB BANK   2011-03-02 2014-12-12
LOCKHEED MARTIN CORP 2.125%   2013-06-27 2014-11-24
MERGER FUND   2013-10-24 2014-10-10
MERGER FUND   2014-10-03 2014-10-10
MNEUBERGER BERMAN LONG SH   2014-10-10 2014-12-15
MORGAN STANLEY 5.625%   2013-07-12 2014-11-24
NOW INC   2013-08-07 2014-06-06
NOW INC   2013-10-22 2014-06-06
NUVEEN HIGH YIELD MUNI BD   2014-10-03 2014-10-10
NUVEEN HIGH YIELD MUNI BD   2014-10-03 2014-12-15
PEPSI BOTTLING GROUP 6.95%   2008-10-23 2014-03-15
PRAXAIR 4.625%   2010-01-20 2014-12-12
RIDGEWORTH SEIX HY BD   2013-02-07 2014-01-22
RIDGEWORTH SEIX HY BD   2013-06-03 2014-01-22
RIDGEWORTH SEIX HY BD   2013-04-16 2014-01-22
RIDGEWORTH SEIX HY BD   2013-03-12 2014-01-22
RIDGEWORTH SEIX HY BD   2013-10-24 2014-01-22
RIDGEWORTH SEIX HY BD   2013-10-24 2014-04-23
RIDGEWORTH SEIX HY BD   2013-07-05 2014-04-23
RIDGEWORTH SEIX HY BD   2013-08-09 2014-04-23
ROBECO BP LNG/SHRT   2014-10-10 2014-12-15
T ROWE PRICE INST FLOAT RATE   2014-04-25 2014-12-15
T ROWE PRICE INST FLOAT RATE   2014-01-22 2014-12-15
T ROWE PRICE INST FLOAT RATE   2014-10-03 2014-12-15
US TREASURY NOTE .625%   2012-12-11 2014-12-12
US TREASURY NOTE .625%   2013-05-07 2014-12-12
VANGUARD BD INDEX FD   2013-10-22 2014-04-23
VANGUARD BD INDEX FD   2014-01-22 2014-10-03
VANGUARD BD INDEX FD   2013-10-22 2014-10-03
VANGUARD BD INDEX FD   2014-01-22 2014-10-09
VANGUARD BD INDEX FD   2013-10-22 2014-09-22
VANGUARD INTERMEDIATE TERM B   2013-10-22 2014-09-22
VANGUARD INTERMEDIATE TERM B   2013-10-22 2014-10-03
VANGUARD INTERMEDIATE TERM B   2014-01-22 2014-10-09
VANGUARD INTERMEDIATE TERM B   2013-10-22 2014-10-09
VANGUARD REIT VIPER   2014-01-22 2014-04-23
VR METLIFE 1.756%   2014-03-19 2014-12-12
WALT DISNEY 5.625%   2008-10-28 2014-12-12
Capital Gains Dividends P    
(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 7,289   4,364 2,925
b 5,398   4,938 460
c 100,125   100,945 -820
d 99,625   100,859 -1,234
e 20,635   20,890 -255
20,275   20,840 -565
39,431   36,505 2,926
7,930   8,227 -297
21,667   20,917 750
541   686 -145
2,074   4,096 -2,022
5,575   3,643 1,932
25,305   26,065 -760
4,069   2,800 1,269
3,052   3,454 -402
1,017   1,169 -152
2,796   3,917 -1,121
21,941   21,232 709
6,893   7,148 -255
4,910   5,022 -112
16,441   16,816 -375
11,791   12,150 -359
11,439   11,482 -43
11,358   11,358 0
20,632   19,796 836
1,431   1,722 -291
9,310   9,350 -40
13,511   13,736 -225
13,407   13,726 -319
25,358   25,492 -134
20,323   21,812 -1,489
25,893   26,765 -872
25,000   25,679 -679
25,169   24,826 343
45,854   37,940 7,914
7,337   7,282 55
422   78 344
20,785   21,576 -791
4,188   2,740 1,448
11,462   9,477 1,985
50,270   48,702 1,568
20,108   19,733 375
13,070   10,372 2,698
13,070   10,140 2,930
12,869   9,734 3,135
14,108   12,019 2,089
14,108   11,826 2,282
25,215   24,303 912
12,608   12,697 -89
6,454   5,889 565
2,773   2,722 51
62,796   63,664 -868
31,260   31,889 -629
25,203   25,542 -339
15,815   15,584 231
39,053   37,946 1,107
44,401   44,969 -568
14,334   14,334 0
14,595   13,928 667
14,613   14,800 -187
14,752   14,725 27
14,538   14,697 -159
20,856   20,324 532
25,537   25,565 -28
6,502   6,592 -90
6,369   6,500 -131
56,347   54,776 1,571
28,316   27,379 937
175   153 22
393   387 6
11,142   11,083 59
50,912   50,145 767
50,000   50,752 -752
50,603   54,237 -3,634
10,170   10,500 -330
10,656   11,055 -399
10,323   10,794 -471
10,225   10,629 -404
13,888   14,282 -394
97,766   99,731 -1,965
11,046   11,035 11
11,136   11,237 -101
56,767   54,776 1,991
3,831   3,981 -150
40,402   42,271 -1,869
50,430   51,893 -1,463
49,445   49,975 -530
49,131   49,693 -562
85,753   86,301 -548
36,001   36,028 -27
364,012   366,639 -2,627
92,527   92,231 296
159,957   161,160 -1,203
84,028   84,518 -490
84,277   84,518 -241
32,160   31,256 904
15,910   15,805 105
8,151   7,594 557
20,098   20,157 -59
21,665   19,536 2,129
5,833     5,833
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       2,925
b       460
c       -820
d       -1,234
e       -255
      -565
      2,926
      -297
      750
      -145
      -2,022
      1,932
      -760
      1,269
      -402
      -152
      -1,121
      709
      -255
      -112
      -375
      -359
      -43
      0
      836
      -291
      -40
      -225
      -319
      -134
      -1,489
      -872
      -679
      343
      7,914
      55
      344
      -791
      1,448
      1,985
      1,568
      375
      2,698
      2,930
      3,135
      2,089
      2,282
      912
      -89
      565
      51
      -868
      -629
      -339
      231
      1,107
      -568
      0
      667
      -187
      27
      -159
      532
      -28
      -90
      -131
      1,571
      937
      22
      6
      59
      767
      -752
      -3,634
      -330
      -399
      -471
      -404
      -394
      -1,965
      11
      -101
      1,991
      -150
      -1,869
      -1,463
      -530
      -562
      -548
      -27
      -2,627
      296
      -1,203
      -490
      -241
      904
      105
      557
      -59
      2,129
      5,833
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 23,189
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 267,577 5,699,834 0.046945
2012 238,780 5,217,071 0.045769
2011 203,331 5,188,448 0.039189
2010 170,020 5,028,662 0.033810
2009 160,622 4,526,475 0.035485
2 Total of line 1, column (d) ...................... 2 0.201198
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 0.040240
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 5,654,027
5 Multiply line 4 by line 3....................... 5 227,518
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 1,678
7 Add lines 5 and 6......................... 7 229,196
8 Enter qualifying distributions from Part XII, line 4.............. 8 313,141
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 1,678
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 0
3 Add lines 1 and 2........................... 3 1,678
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,678
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 5,802
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 5,802
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 4,124
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,800 RefundedBullet 11 2,324
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletTX
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletWELLS FARGO BANK NA Telephone no.bullet (979) 776-3267
    Located atbullet3000 BRIARCREST DR STE 200BRYANTX ZIP+4bullet77802
    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
    Yes
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    WILLIAM S THORNTON TRUSTEE
    1.00     		12,000 0 0
    3740 COPPERFIELD DR SUITE 102
    BRYAN,TX77802
    WELLS FARGO BANK NA TRUSTEE
    5.00     		61,255 0 0
    3000 BRIARCREST DR STE 200
    BRYAN,TX77802
    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 0
    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.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    5,522,350
    b
    Average of monthly cash balances.......................
    1b
    217,779
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,740,129
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    5,740,129
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    86,102
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,654,027
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    282,701
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    282,701
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    1,678
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,678
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    281,023
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    281,023
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    281,023
    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
    313,141
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    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
    313,141
    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
    1,678
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    311,463
    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 7 281,023
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 239,393
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 313,141
    a Applied to 2013, but not more than line 2a 239,393
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 73,748
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 0 0
    (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 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		207,275
    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) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    WELLS FARGO BANK TRUST DEPARTMENT
    PO DRAWER 913
    BRYAN,TX77805
    (979) 776-3267
    bThe form in which applications should be submitted and information and materials they should include:
    ORGANIZATIONS ARE TO SUBMIT REQUESTS ON BANK TRUST DEPARTMENT'S GRANT APPLICATION AVAILABLE AT: https://www.wellsfargo.com/privatefoundationgrants/dougherty.
    cAny submission deadlines:
    JULY 31
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AS PROVIDED FOR IN THE WILL, THE FOLLOWING ARE TO RECEIVE AT LEAST 10 PERCENT OF THE ANNUAL NET INCOME: FIRST UNITED METHODIST CHURCH, BRYAN, TX; METHODIST RETIREMENT SERVICES, INC, THE WOODLANDS, TX; BRAZOS VALLEY REHABILITATION CENTER, BRYAN, TX; COLLEGE OF SCIENCE, TEXAS A&M UNIVERSITY, COLLEGE STATION, TX. THE REMAINING CONTRIBUTIONS ARE RESTRICTED TO CHARITABLE ORGANIZATIONS IN THE BRAZOS COUNTY, TX AREA
    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
    BOYS AND GIRLS CLUB OF BRAZOS VALLEY
    900 W WILLIAM J BRYAN PKWY
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 5,000
    BRAZOS COUNTY RAPE CRISIS
    PO BOX 3082
    BRYAN,TX77805     		  CHARITY FOR CHARITABLE PURPOSES 3,500
    BRAZOS VALLEY FOOD BANK
    1514 SHILOH AVE
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 30,000
    BRAZOS VALLEY MUSEUM
    3232 BRIARCREST DR
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSES 6,000
    BRAZOS VALLEY REHABILITATION CENTER
    1318 MEMORIAL DRIVE
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSES 30,000
    BRYAN ISD EDUCATION FOUNDATION
    101 N TEXAS AVENUE
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 10,000
    FIRST UNITED METHODIST CHURCH
    506 28TH STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 45,000
    HABITAT FOR HUMANITY BRYANCOLLEGE STATION
    119 LAKE STREET
    BRYAN,TX77801     		  CHARITY FOR CHARITABLE PURPOSES 25,000
    HEALTH FOR ALL
    1328A MEMORIAL DR
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSES 15,000
    HOSPICE OF BRAZOS VALLEY
    502 W 26TH STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 30,000
    METHODIST RETIREMENT COMMUNITIES FBO CRESTVIEW RETIREMENT BUILDING FUND
    2202 TIMBERLOCH PLACE STE 200
    THE WOODLANDS,TX77830     		  CHARITY FOR CHARITABLE PURPOSES 25,000
    SALVATION ARMY
    2506 CAVITT STREET
    BRYAN,TX77801     		  CHARITY FOR CHARITABLE PURPOSES 5,000
    SCOTTY'S HOUSE
    2424 KENT ST
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSES 2,000
    ST JOSEPH FOUNDATION
    PO BOX 993
    BRYAN,TX77805     		  CHARITY FOR CHARITABLE PURPOSES 30,000
    STILL CREEK RANCH
    6055 HEARNE RD
    BRYAN,TX77808     		  CHARITY FOR CHARITABLE PURPOSES 6,000
    UNITY PARTNERS DBA PROJECT UNITY
    PO BOX 2812
    BRYAN,TX77805     		  CHARITY FOR CHARITABLE PURPOSES 5,000
    VOICES FOR CHILDREN
    115 NORTH MAIN STREET
    BRYAN,TX77803     		  CHARITY FOR CHARITABLE PURPOSES 3,750
    BIG BROTHERS BIG SISTERS
    315 TAUBER ST
    COLLEGE STATION,TX77840     		  CHARITY FOR CHARITABLE PURPOSES 2,500
    BRAZOS MATERNAL AND CHILD HEALTH CLINIC
    3370 SOUTH TEXASD AVENUE STE G
    BRYAN,TX77802     		  CHARITY FOR CHARITABLE PURPOSES 5,000
    SPECIAL OLYMPICS TEXAS
    402 SIMONTON STE 104
    CONROE,TX77301     		  CHARITY FOR CHARITABLE PURPOSES 1,000
    Total .................................bullet 3a 284,750
    bApproved for future payment
    Total .................................bullet 3b 0
    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....     14 145,444  
    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 66,592  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 23,189  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 235,225 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13235,225
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 4,660 0   4,660

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AMERICAN EXPRESS CREDIT MED TERM NOTE 2.80% 9/19/16 31,335 30,882
    AMGEN INC 2.125% 5/15/17 31,261 30,394
    BEAR STEARNS 4.65% 7/2/18 31,376 32,509
    BP CAPITAL MARKETS 3.245% 5/6/22 52,175 49,152
    BUNGE NA FINANCE 5.90% 4/1/17 28,239 27,182
    CELGENE CORP. 2.45% 10/15/15 26,064 25,245
    COSTCO WHOLESALE CORP 5.50% 3/15/17 31,849 32,829
    DIRECTV HLDG 3.50% 3/1/16 26,594 25,652
    DUKE ENERGY CORP 5.30% 10/1/15 28,523 31,022
    EBAY INC 3.25% 10/15/20 32,718 30,515
    ECOLAB INC 3.00% 12/8/16 26,765 25,813
    GILEAD SCIENCES INC 3.05% 12/1/16 32,363 31,129
    KELLOGG CO 1.75% 5/17/17 25,542 25,131
    LLOYDS TSB BANK PLC 4.875% 1/21/16 30,486 31,207
    LOCKHEED MARTIN 2.125% 9/15/16 25,564 25,457
    METLIFE 1.756% 12/15/17 30,235 30,099
    MORGAN STANLEY 5.625% 9/26/19 27,379 28,220
    WALT DISNEY COMPANY 5.625% 9/15/16 28,103 32,429

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AFFILIATED MANAGERS GROUP, INC COM 12,157 16,979
    ANHEUSER-BUSCH INBEV SPN 13,086 16,848
    APACHE CORP 12,141 9,714
    APPLE INC 27,221 43,600
    BAXTER INTL 14,263 15,024
    BERKSHIRE HATHAWAY 20,667 28,528
    BLACKROCK INC 11,268 12,515
    BOEING CO 20,054 24,046
    CELANESE CORP 15,733 18,288
    CISCO SYSTEMS INC 16,623 21,696
    CITIGROUP 19,226 20,291
    CME GROUP INC 14,997 18,616
    COMCAST CORP CLASS A 16,063 22,044
    CUMMINS INC 22,372 23,788
    CVS HEALTH CORPORATION 14,087 22,151
    DIAGEO PLC - ADR 9,983 11,409
    EATON CORP. 11,551 13,252
    EMC CORP MASS 14,746 15,614
    GILEAD SCIENCES INC 5,310 12,254
    GOLDMAN SACHS GROUP INC 11,592 13,568
    GOOGLE INC. 17,480 18,424
    HSBC-ADR 16,789 15,822
    IBM 9,010 8,022
    JOHNSON CONTROLS INC 11,336 15,469
    JP MORGAN CHASE & CO 17,410 22,216
    LAS VEGAS SAND CORP 14,545 14,249
    MCKESSON CORP. 15,395 20,758
    MICROSOFT CORP 16,173 18,348
    MONSTER BEVERAGE 8,214 13,002
    NATIONAL OILWELL VARCO 18,854 18,348
    NESTLE S.A. 11,056 12,402
    ORACLE CORPORATION 11,435 15,515
    SCHLUMBERGER LTD 20,209 22,634
    TARGET CORP 19,614 25,050
    THERMO FISHER SCIENTIFIC INC 10,350 13,782
    TJX COS INC NEW 11,329 16,459
    TOTAL S.A. 11,233 11,264
    UNION PACIFIC CORP 18,468 27,400
    UNITED PARCEL SERVICE-CL B 10,344 13,340
    UNITEDHEALTH GROUP 17,901 27,294
    US BANCORP DEL NEW 13,314 16,856
    WALT DISNEY CO 16,318 13,547

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    US Government Securities - End of Year Book Value:

    540,500
    US Government Securities - End of Year Fair Market Value:

    535,085
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2014 InvestmentsOtherSchedule2
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ASG GLOBAL ALTERNATIVES FUND AT COST 78,682 77,856
    BRAZOS COUNTY, TX MINERALS AT COST 1 244,666
    CREDIT SUISSE COMMODITY RETURN AT COST 125,982 102,193
    DREYFUS EMERGING MARKETS DEBT LOCAL AT COST 186,517 165,268
    DREYFUS INTERNATIONAL BOND FUND AT COST 244,290 235,175
    DRIEHAUS ACTIVE INCOME FUND AT COST 206,935 203,631
    E TRACS ALERIAN MLP INFRASTRUCTURE AT COST 38,927 34,875
    EATON VANCE GLOBAL MACRO ABSOLUTE AT COST 76,400 77,482
    FIDELITY ADVISORS EMERGING MARKETS AT COST 75,816 73,694
    GRIMES COUNTY, TX MINERALS AT COST 1 65,808
    ISHARES CORE S&P SMALL CAP ETF AT COST 101,345 159,684
    ISHARES S&P MID-CAP 400 GROWTH AT COST 65,567 77,121
    ISHARES S&P MID-CAP 400 VALUE AT COST 208,855 232,523
    JPMORGAN HIGH YIELD FUND AT COST 135,200 138,484
    MERGER FD SH BEN INT AT COST 101,376 98,831
    NUVEEN HIGH YIELD MUNICIPAL BOND FUND AT COST 100,564 104,572
    PIMCO FOREIGN BOND FUND AT COST 237,886 236,950
    PRINCIPAL GLOBAL MULTI STRATEGY FUND AT COST 51,832 51,555
    PRINCIPAL PREFERRED SECURITIES FUND AT COST 117,621 116,153
    SPDR DJ WILSHIRE INTERNATIONAL REAL AT COST 175,084 181,869
    T ROWE PRICE INSTITUTIONAL FLOAT RATE FUND AT COST 66,827 66,037
    VANGUARD FTSE DEVELOPED MARKETS ETF AT COST 299,862 297,737
    VANGUARD FTSE EMERGING MARKETS ETF AT COST 236,263 231,156
    VANGUARD REIT VIPER AT COST 154,744 202,500

    TY 2014 OtherDecreasesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Amount
       
       
       
       


    TY 2014 OtherExpensesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADR FEES 8 8   0
    OIL & GAS FEES 4,657 4,657   0


    TY 2014 OtherIncomeSchedule2
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NET ROYALTIES - ROSEWOOD RESOURCES 5,782 5,782 5,782
    NET ROYALTIES - APACHE CORP. 2,712 2,712 2,712
    NET ROYALTIES - ENERVEST OPERATING 35,086 35,086 35,086
    NET ROYALTIES - CRAWFORD HUGHES 22,597 22,597 22,597
    NET ROYALTIES - DCP MIDSTREAM 89 89 89
    NET ROYALTIES - OGDEN RESOURCES 56 56 56
    NET ROYALTIES - CHESAPEAKE OPERATING 33 33 33
    DELAY RENTAL - CRAWFORD HUGHES 237 237 237


    TY 2014 OtherIncreasesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Description Amount
       
       
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GRANT ADMINISTRATION FEES 5,417 0   5,417


    TY 2014 TaxesSchedule
    Name:
    LUCILLE AND JOHN B DOUGHERTY TRUST
    % WELLS FARGO BANK NA
    EIN: 26-1444071
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAXES 2,725 2,725   0
    FOREIGN TAXES 1,328 1,328   0