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
GAIL G ELLIS FOUNDATION INC
C/O DAVID FRIEDLANDER FGMK

Number and street (or P.O. box number if mail is not delivered to street address)2801 LAKESIDE DRIVE - 3RD FLOOR   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BANNOCKBURN, IL60015
A Employer identification number

36-4076867
B Telephone number (see instructions)

(847) 374-0400
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$12,487,609J 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).............. 846,104
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 24,770 24,770  
4 Dividends and interest from securities...... 180,069 180,069  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 887,616
b Gross sales price for all assets on line 6a 1,218,222
7 Capital gain net income (from Part IV, line 2)... 1,732,970
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 97,697 97,697 0
12 Total. Add lines 1 through 11........ 2,036,256 2,035,506 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest............... 8,245 8,245 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 9,119 9,119 0 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 174,324 174,324 0 0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 191,688 191,688 0 0
25 Contributions, gifts, grants paid........ 549,090 549,090
26 Total expenses and disbursements. Add lines 24 and 25 740,778 191,688 0 549,090
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,295,478
b Net investment income (if negative, enter -0-) 1,843,818
c Adjusted net income (if negative, enter -0-)... 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.......... 117,173 720,025 720,025
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 11,298,843 Click to see attachment12,072,195 11,767,584
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) 11,416,016 12,792,220 12,487,609
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) Click to see attachment526,118 Click to see attachment312,084
23 Total liabilities (add lines 17 through 22).......... 526,118 312,084
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 10,889,898 12,480,136
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)...... 10,889,898 12,480,136
31 Total liabilities and net assets/fund balances (see instructions).. 11,416,016 12,792,220
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 10,889,898
2 Enter amount from Part I, line 27a..................... 2 1,295,478
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 294,760
4 Add lines 1, 2, and 3.......................... 4 12,480,136
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 12,480,136
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 GC PRIVATE FUND S1 (TE) P    
b GC PRIVATE FUND S1 (TE) P    
c GC HEDGE FUND S1 (TE) P    
d GC HEDGE FUND S1 (TE) P    
e GC PRIVATE FUND S1B (TE) P    
GC PRIVATE FUND S1B (TE) P    
GC BOND FUND S1 (TE) P    
GC STOCK FUND S1 (TE) P    
GC STOCK FUND S1 (TE) P    
MOTOROLA SOLUTIONS INC P   2014-11-20
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a       2,709
b       159,212
c       -4,931
d       44,985
e       -2,692
      13,509
      -2,411
      26,887
      278,230
1,218,222   750 1,217,472
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       2,709
b       159,212
c       -4,931
d       44,985
e       -2,692
      13,509
      -2,411
      26,887
      278,230
      1,217,472
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 1,732,970
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 424,172 11,023,237 0.038480
2012 484,668 9,895,809 0.048977
2011 509,803 9,563,698 0.053306
2010 270,255 9,473,292 0.028528
2009 257,815 8,794,973 0.029314
2 Total of line 1, column (d) ...................... 2 0.198605
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 0.039721
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 11,884,582
5 Multiply line 4 by line 3....................... 5 472,067
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 18,438
7 Add lines 5 and 6......................... 7 490,505
8 Enter qualifying distributions from Part XII, line 4.............. 8 549,090
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 18,438
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 18,438
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 18,438
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 15,195
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 15,195
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 3,243
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 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
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    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 ofbulletDAVID FRIEDLANDER Telephone no.bullet (847) 940-3240
    Located atbullet2801 LAKESIDE 300BANNOCKBURNIL ZIP+4bullet60015
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    GAIL G ELLIS DIRECTOR
    0.00     		0 0 0
    1435 CIRCLE DRIVE
    SAN MARINO,CA91108
    BRIAN C SULLIVAN DIRECTOR
    0.00     		0 0 0
    15040 ALTATA DRIVE
    PACIFIC PALISADES,CA90272
    CARRIE E SULLIVAN DIRECTOR
    0.00     		0 0 0
    1455 CIRCLE DRIVE
    SAN MARINO,CA91108
    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
    0
    b
    Average of monthly cash balances.......................
    1b
    418,599
    c
    Fair market value of all other assets (see instructions)................
    1c
    11,646,966
    d
    Total (add lines 1a, b, and c).........................
    1d
    12,065,565
    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
    12,065,565
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    180,983
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    11,884,582
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    594,229
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    594,229
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    18,438
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,438
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    575,791
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    575,791
    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
    575,791
    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
    549,090
    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
    549,090
    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
    18,438
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    530,652
    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 7 575,791
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 545,585
    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$ 549,090
    a Applied to 2013, but not more than line 2a 545,585
    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..... 3,505
    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 ..........     		572,286
    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).)
    GAIL G ELLIS
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ALZHEIMER'S ASSOCIATION
    4709 GOLF RD
    SKOKIE,IL60076     		    PUBLIC CHARITY 1,000
    AMERICAN HEART ASSOCIATION
    208 S LASALLE ST STE 1500
    CHICAGO,IL60604     		    PUBLIC CHARITY 1,000
    AMERICAN YOUTH SYMPHONY
    3424 WILSHIRE BOULEVARD SUITE 830
    LOS ANGELES,CA90010     		    PUBLIC CHARITY 500
    ARMED FORCES AID CAMPAIGN
    1111 S ABILENE COURT
    AURORA,CO80012     		    PUBLIC CHARITY 1,000
    AUTISM SPEAKS
    1 EAST 33RD STREET 4TH FLOOR
    NEW YORK,NY10016     		    PUBLIC CHARITY 3,000
    BARAT EDUCATION
    1501 N OAKLEY BLVD
    CHICAGO,IL60622     		    PUBLIC CHARITY 1,000
    BATTLE MOUNTAIN TOUCHDOWN
    302 HANSON RANCH ROAD
    VAIL,CO81657     		    PUBLIC CHARITY 1,000
    BETTY FORD ALPINE GARDENS
    530 SOUTH FRONTAGE ROAD EAST
    VAIL,CO81657     		    PUBLIC CHARITY 15,000
    BOY SCOUTS OF AMERICA
    1325 W WALNUT HILL LANE
    IRVING,TX75015     		    PUBLIC CHARITY 5,000
    BOY'S TOWN
    14100 CRAWFORD ST
    BOYS TOWN,NE68010     		    PUBLIC CHARITY 1,000
    BRAVO VAIL
    2271 N FRONTAGE RD W
    VAIL,CO81657     		    PUBLIC CHARITY 10,000
    CALTECH-PHYSICS MATHMATICS ASTRONOMY DIVISION
    1200 EAST CALIFORNIA BOULEVARD
    PASADENA,CA91125     		    PUBLIC CHARITY 5,000
    CAMPING AND EDUCATION FOUNDATION
    3515 MICHIGAN AVENUE
    CINCINNATI,OH45208     		    PUBLIC CHARITY 1,000
    CASA OF LOS ANGELES
    201 CENTRE PLAZA DRIVE SUITE 1100
    MONTEREY PARK,CA91754     		    PUBLIC CHARITY 500
    CENTER THEATRE GROUP
    601 W TEMPLE ST
    LOS ANGELES,CA90012     		    PUBLIC CHARITY 500
    CHILDREN'S BURN FOUNDATION
    5000 VAN NUYS BOULEVARD SUITE 210
    SHERMAN OAKS,CA91403     		    PUBLIC CHARITY 1,000
    CHILDREN'S HOSPITAL OF LA- C FUND 100
    4650 SUNSET BLVD
    LOS ANGELES,CA90027     		    PUBLIC CHARITY 20,000
    CIRCLE OF FRIENDS
    1617 W 13TH ST
    LITTLE ROCK,AR72202     		    PUBLIC CHARITY 1,000
    CITY OF HOPE
    1500 EAST DUARTE ROAD
    DUARTE,CA91010     		    PUBLIC CHARITY 5,000
    COMPTON JR POSSE
    453 W CALDWELL ST
    COMPTON,CA90220     		    PUBLIC CHARITY 3,000
    DOCTORS WITHOUT BORDERS
    333 7TH AVENUE 2ND FLOOR
    NEW YORK,NY10001     		    PUBLIC CHARITY 1,000
    DOHENY EYE INSTITUTE
    1450 SAN PABLO STREET
    LOS ANGELES,CA90033     		    PUBLIC CHARITY 1,000
    DOWNTOWN WOMENS CENTER
    442 S SAN PEDRO ST
    LOS ANGELES,CA90013     		    PUBLIC CHARITY 500
    EARTHWATCH INSTITUTE
    114 WESTERN AVE
    BOSTON,MA02134     		    PUBLIC CHARITY 1,000
    FAMILIES FORWARD
    8 THOMAS
    IRVINE,CA92618     		    PUBLIC CHARITY 1,000
    FIVE ACRES
    760 W MOUNTAIN VIEW ST
    ALTADENA,CA91001     		    PUBLIC CHARITY 1,000
    FLINTRIDGE PREP SCHOOL
    4543 CROWN AVE
    LA CANADA FLINTRIDGE,CA91011     		    PUBLIC CHARITY 2,000
    FOOTHILL FAMILY SERVICES
    2500 E FOOTHILL BLVD STE 300
    PASADENA,CA91107     		    PUBLIC CHARITY 1,000
    FRIENDS OF THE CROWELL PUBLIC LIBRARY
    1890 HUNTINGTON DRIVE
    SAN MARINO,CA91108     		    PUBLIC CHARITY 1,000
    FVO SOLUTIONS
    789 N FAIR OAKS AVE
    PASADENA,CA91103     		    PUBLIC CHARITY 1,000
    GEORGETOWN UNIVERSITY
    3700 O ST NW
    WASHINGTON,DC20057     		    PUBLIC CHARITY 1,000
    GEORGIANA RODIGER CENTER
    69 N CATALINA
    PASADENA,CA91106     		    PUBLIC CHARITY 8,000
    GREATER LOS ANGELES ZOO ASSOCIATION
    5333 ZOO DR
    LOS ANGELES,CA90027     		    PUBLIC CHARITY 2,000
    GUIDING EYES FOR THE BLIND
    611 GRANITE SPRINGS RD
    YORKTOWN HEIGHTS,NY10598     		    PUBLIC CHARITY 1,000
    HABITAT FOR HUMANITY INTERNATIONAL
    800 N STATE ST
    ELGIN,IL60123     		    PUBLIC CHARITY 1,000
    HATHAWAY- SYCAMORES
    210 SOUTH DELACEY AVENUE SUITE 110
    PASADENA,CA91105     		    PUBLIC CHARITY 1,000
    HILLSIDES
    940 AVENUE 64
    PASADENA,CA91105     		    PUBLIC CHARITY 1,000
    HOLLYWOOD BOWL
    2301 N HIGHLAND AVE
    LOS ANGELES,CA90068     		    PUBLIC CHARITY 8,640
    HOLY FAMILY CATHOLIC CHURCH
    600 BROOK FOREST AVE
    SHOREWOOD,IL60404     		    PUBLIC CHARITY 5,100
    HUNTINGTON HOSPITAL
    270 PARK AVE
    HUNTINGTON,NY11743     		    PUBLIC CHARITY 31,000
    HUNTINGTON LIBRARY SOCIETY OF FELLOWS
    1151 OXFORD ROAD
    SAN MARINO,CA91108     		    PUBLIC CHARITY 5,000
    JUNIOR LEAGUE OF PASADENA
    149 S MADISON AVE
    PASADENA,CA91101     		    PUBLIC CHARITY 500
    KCET
    2900 WEST ALAMEDA AVE
    BURBANK,CA91505     		    PUBLIC CHARITY 500
    KIDSPACE CHILDREN'S MUSEUM
    480 N ARROYO BLVD
    PASADENA,CA91103     		    PUBLIC CHARITY 40,000
    KIDSPACE CIRCLE OF FRIENDS
    480 N ARROYO BLVD
    PASADENA,CA91103     		    PUBLIC CHARITY 5,000
    LA OPERA
    135 NORTH GRAND AVENUE
    LOS ANGELES,CA90012     		    PUBLIC CHARITY 5,000
    LOS ANGELES CHILDRENS CHORUS
    585 E COLORADO BLVD
    PASADENA,CA91101     		    PUBLIC CHARITY 500
    LOS ANGELES SPORTS COUNCIL FOUNDATION
    350 S BIXEL ST
    LOS ANGELES,CA90017     		    PUBLIC CHARITY 600
    LOS ANGELES TIMES FAMILY FUND
    205 N MICHIGAN AVE SUITE 4300
    CHICAGO,IL60601     		    PUBLIC CHARITY 500
    LYRIC OPERA-CHICAGO
    20 N WACKER DR
    CHICAGO,IL60606     		    PUBLIC CHARITY 1,000
    MACH 1
    1530 W BROADWAY ROAD
    TEMPE,AZ85282     		    PUBLIC CHARITY 1,000
    MAGICAL STRINGS OF YOUTH
    1250 RADCLIFFE ROAD
    BUFFALO GROVE,IL60089     		    PUBLIC CHARITY 8,000
    MAKE-A-WISH
    640 NORTH LASALLE DRIVE SUITE 280
    CHICAGO,IL60654     		    PUBLIC CHARITY 1,000
    METHODIST HOSPITAL FOUNDATION
    8401 WEST DODGE RD SUITE 225
    OMAHA,NE68114     		    PUBLIC CHARITY 1,000
    MOBILE CARE FOUNDATION
    321 N LOOMIS ST
    CHICAGO,IL60607     		    PUBLIC CHARITY 20,000
    MY FRIENDS PLACE
    5850 HOLLYWOOD BLVD
    LOS ANGELES,CA90028     		    PUBLIC CHARITY 1,000
    NAMI
    3803 N FAIRFAX DR SUITE 100
    ARLINGTON,VA22203     		    PUBLIC CHARITY 500
    NATIONAL PARKINSON FOUNDATION
    200 SE 1ST STREET
    MIAMI,FL33131     		    PUBLIC CHARITY 1,000
    NATURAL HISTORY MUSEUM
    900 EXPOSITION BLVD
    LOS ANGELES,CA90007     		    PUBLIC CHARITY 2,000
    NORTHWESTERN UNIVERSITY
    633 CLARK ST
    EVANSTON,IL60208     		    PUBLIC CHARITY 3,000
    PASADENA ART ALLIANCE
    464 E WALNUT ST
    PASADENA,CA91101     		    PUBLIC CHARITY 1,000
    PASADENA CITY COLLEGE FOUNDATION
    1570 E COLORADO BLVD
    PASADENA,CA91106     		    PUBLIC CHARITY 1,000
    PASADENA COMMUNITY FOUNDATION
    301 E COLORADO BLVD
    PASADENA,CA91101     		    PUBLIC CHARITY 500
    PASADENA GARDEN COMMUNITY GARDENS
    PASADENA COMMUNITY GARDENS PO BOX
    94230
    PASADENA,CA91109     		    PUBLIC CHARITY 500
    PASADENA GUILD OF CHILDEN'S HOSPITAL
    665 S RAYMOND AVE
    PASADENA,CA91105     		    PUBLIC CHARITY 500
    PASADENA HUMANE SOCIETY
    361 S RAYMOND AVE
    PASADENA,CA91105     		    PUBLIC CHARITY 2,000
    PASADENA MENTAL HEALTH
    361 S RAYMOND AVE
    PASADENA,CA91105     		    PUBLIC CHARITY 1,000
    PASADENA PLAYHOUSE
    39 S EL MOLINO AVE
    PASADENA,CA91101     		    PUBLIC CHARITY 1,500
    PASADENA SENIORS CENTER
    85 E HOLLY ST
    PASADENA,CA91103     		    PUBLIC CHARITY 1,000
    PASADENA SYMPHONY AND POPS
    2 NORTH LAKE AVE SUITE 1080
    PASADENA,CA91101     		    PUBLIC CHARITY 2,000
    PAWS FOR PURPLE HEARTS
    5860 LABATH AVE
    ROHNERT PARK,CA94928     		    PUBLIC CHARITY 1,000
    PBS-CO CAL
    3080 BRISTOL STREET SUITE 100
    COSTA MESA,CA92626     		    PUBLIC CHARITY 250
    PHILLIPS GRADUATE INSTITUTE
    19900 PLUMMER ST
    CHATSWORTH,CA91311     		    PUBLIC CHARITY 5,000
    POLYTECHNIC SCHOOL
    1030 E CALIFORNIA BLVD
    PASADENA,CA91106     		    PUBLIC CHARITY 31,000
    PROVIDENCE ST JOSEPH HOSPITAL
    501 S BUENA VISTA ST
    BURBANK,CA91505     		    PUBLIC CHARITY 5,000
    RACHEL ELIZABETH BARTON FOUNDATION
    PO BOX 11388
    CHICAGO,IL60611     		    PUBLIC CHARITY 1,000
    SAINT MATTHEWS PARISH SCHOOL
    1555 GLEN ELLYN RD
    GLENDALE HEIGHTS,IL60139     		    PUBLIC CHARITY 20,000
    SALVATION ARMY
    615 SLATERS LANE PO BOX 269
    ALEXANDRIA,VA22313     		    PUBLIC CHARITY 5,000
    SAN MARINO SCHOOLS FOUNDATION
    1665 WEST DR
    SAN MARINO,CA91108     		    PUBLIC CHARITY 2,000
    SCHOOL YEAR ABROAD
    120 WATER STREET SUITE 310
    NORTH ANDOVER,MA01845     		    PUBLIC CHARITY 500
    SEMESTER AT SEA
    2410 OLD IVY ROAD
    CHARLOTTESVILLE,VA22903     		    PUBLIC CHARITY 1,000
    SKI & SNOWBOARD CLUB VAIL
    598 VAIL VALLEY DR
    VAIL,CO81657     		    PUBLIC CHARITY 200
    SOUTH PASADENA EDUCATIONAL FOUNDATION
    351 S HUDSON AVE
    PASADENA,CA91101     		    PUBLIC CHARITY 1,000
    SOUTH PASADENA SAN MARINO YMCA
    1605 GARFIELD AVE
    PASADENA,CA91030     		    PUBLIC CHARITY 5,000
    SPECIAL OLYMPICS
    1133 19TH STREET NW
    WASHINGTON,DC20036     		    PUBLIC CHARITY 2,000
    ST JUDES CHILDREN RESEARCH HOSPITAL
    501 ST JUDE PLACE
    MEMPHIS,TN38105     		    PUBLIC CHARITY 2,000
    STEADMAN PHIIPPON RESEARCH INSTITUTE
    181 W MEADOW DR 1000
    VAIL,CO81657     		    PUBLIC CHARITY 1,000
    THE ARTHRITIS FOUNDATION
    1330 W PEACHTREE STREET SUITE 100
    ATLANTA,GA30309     		    PUBLIC CHARITY 1,000
    THE COLBURN SCHOOL
    200 S GRAND AVE
    LOS ANGELES,CA90012     		    PUBLIC CHARITY 1,000
    THE NATURE CONSERVANCY
    8 S MICHIGAN AVE
    CHICAGO,IL60603     		    PUBLIC CHARITY 100
    THE SMILE TRAIN
    41 MADISON AVE 28TH FLOOR
    NEW YORK,NY10010     		    PUBLIC CHARITY 1,000
    THE USO
    PO BOX 96860
    WASHINGTON,DC20077     		    PUBLIC CHARITY 2,000
    TROJAN ATHELTIC FUND
    3501 WATT WAY HERITAGE HALL 203B
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 10,000
    UNION RESCUE MISSION
    545 S SAN PEDRO ST
    LOS ANGELES,CA90013     		    PUBLIC CHARITY 2,000
    UNION STATION FOUNDATION
    825 E ORANGE GROVE BOULEVARD
    PASADENA,CA91104     		    PUBLIC CHARITY 3,000
    UNIVERSITY OF NOTRE DAME
    400 MAIN BUILDING
    NOTRE DAME,IN46556     		    PUBLIC CHARITY 3,000
    URBAN COMPASS
    11100 S CENTRAL AVE
    LOS ANGELES,CA90059     		    PUBLIC CHARITY 2,000
    USC- CLASSICAL KUSC
    1149 S HILL STREET SUITE H100
    LOS ANGELES,CA90015     		    PUBLIC CHARITY 2,000
    USC- MARSHALL SCHOOL
    3670 TROUSDALE PKWY
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 5,000
    USC- MARSHALL SCHOOL
    3670 TROUSDALE PKWY
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 150,000
    USC SCHOOL OF THEATER
    1029 CHILDS WAY
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 10,000
    USC- THORNTON SCHOOL OF MUSIC
    840 W 34TH ST
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 3,000
    USET FOUNDATION
    PO BOX 355
    GLADSTONE,NJ07934     		    PUBLIC CHARITY 200
    USHJA FOUNDATION
    3870 CIGAR LANE
    LEXINGTON,KY07934     		    PUBLIC CHARITY 2,500
    VAIL VALLEY MEDICAL CENTER
    181 W MEADOW DR 1000
    VAIL,CO81657     		    PUBLIC CHARITY 5,000
    WOUNDED WARRIOR PROJECT
    230 W MONROE STREET SUITE 200
    CHICAGO,IL60606     		    PUBLIC CHARITY 2,500
    YOUNG & HEALTHY
    1905 LINCOLN AVE BUILDING D ROOM
    416
    PASADENA,CA91103     		    PUBLIC CHARITY 500
    YES VIRGINIA FUND
    301 E COLORADO BLVD
    PASADENA,CA91101     		    PUBLIC CHARITY 500
    USC- DIVISION OF BIOKINESIOLOGY
    3670 TROUSDALE PKWY
    LOS ANGELES,CA90089     		    PUBLIC CHARITY 5,000
    Total .................................bullet 3a 549,090
    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 ............     		    14 24,770  
    4 Dividends and interest from securities....     14 180,069  
    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.....     14 97,697  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 887,616  
    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 1,190,152 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,190,152
    (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.)
    8 INVESTMENTS SOLD AT A GAIN OR LOSS DURING THE PLAN YEAR
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


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

    36-4076867
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




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

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK         		Employer identification number

    36-4076867
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    GAIL G ELLIS  
    1435 CIRCLE DRIVE
     
    SAN MARINO, CA91108

    		$846,104


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

       
     
     

    		$  


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

       
     
     

    		$  


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

       
     
     

    		$  


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

       
     
     

    		$  


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

       
     
     

    		$  


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

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK         		Employer identification number

    36-4076867
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 13,208 SHS MOTOROLA SOLUTIONS INC $ 846,104 2014-10-28
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK         		Employer identification number

    36-4076867
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 InvestmentsOtherSchedule2
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    INVESTMENTS IN PARTNERSHIPS AT COST 12,072,195 11,767,584

    TY 2014 OtherExpensesSchedule
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT EXPENSES 170,348 170,348 0 0
    MISC. CHARITABLE EXPENSES 3,976 3,976 0 0


    TY 2014 OtherIncomeSchedule2
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    GC STOCK FUND S1 (TE) 865 865  
    GC BOND FUND S1 (TE) 33 33  
    GC HEDGE FUND (TE) 15,793 15,793  
    GC PRIVATE FUND S1 (TE) 33,143 33,143  
    GC PRIVATE FUND S1B (TE) 47,863 47,863  


    TY 2014 OtherIncreasesSchedule
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Description Amount
       


    TY 2014 OtherLiabilitiesSchedule
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Description Beginning of Year - Book Value End of Year - Book Value
    LOAN PAYABLE - NORTHERN TRUST 526,118 312,084


    TY 2014 TaxesSchedule
    Name:
    GAIL G ELLIS FOUNDATION INC
    C/O DAVID FRIEDLANDER FGMK
    EIN: 36-4076867
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX PAID 4,119 4,119 0 0
    FEDERAL TAXES PAID 5,000 5,000 0 0