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
HENRY P KENDALL FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)176 FEDERAL STREET   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA02110
A Employer identification number

04-6029103
B Telephone number (see instructions)

(617) 951-2555
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$96,820,803J 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).............. 13,144,357
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 1,940,610 1,940,683  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,686,205
b Gross sales price for all assets on line 6a 28,904,958
7 Capital gain net income (from Part IV, line 2)... 5,614,493
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 27,540 27,336  
12 Total. Add lines 1 through 11........ 20,798,712 7,582,512  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 307,661 0   307,661
14 Other employee salaries and wages...... 181,195 0   181,195
15 Pension plans, employee benefits....... 105,161 0   105,161
16a Legal fees (attach schedule)......... Click to see attachment 35,359 9,805   25,554
b Accounting fees (attach schedule)....... Click to see attachment 28,500 14,250   14,250
c Other professional fees (attach schedule).... Click to see attachment 182,816 122,681   60,135
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 65,500 0   500
19 Depreciation (attach schedule) and depletion... Click to see attachment 6,750 0  
20 Occupancy.............. 92,059 0   92,059
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 175,074 78,115   98,777
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,180,075 224,851   885,292
25 Contributions, gifts, grants paid........ 3,650,706 3,650,706
26 Total expenses and disbursements. Add lines 24 and 25 4,830,781 224,851   4,535,998
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 15,967,931
b Net investment income (if negative, enter -0-) 7,357,661
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............... 224,521 405,138 405,138
2 Savings and temporary cash investments..........      
3 Accounts receivable bullet3,511,450
Less: allowance for doubtful accounts bullet   40,273 3,511,450 3,511,450
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) bullet126,875
Less: allowance for doubtful accounts bullet0 125,000 Click to see attachment126,875 126,875
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........   3,250 3,250
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 85,667,987 Click to see attachment80,096,355 80,096,355
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet78,063
Less: accumulated depreciation (attach schedule) bullet57,925 21,834 Click to see attachment20,138 20,138
15 Other assets (describe bullet) Click to see attachment13,240 Click to see attachment12,657,597 Click to see attachment12,657,597
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 86,092,855 96,820,803 96,820,803
Liabilities 17 Accounts payable and accrued expenses.......... 999 1,459
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 attachment557,016 Click to see attachment0
23 Total liabilities (add lines 17 through 22).......... 558,015 1,459
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 85,534,840 96,819,344
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)...... 85,534,840 96,819,344
31 Total liabilities and net assets/fund balances (see instructions).. 86,092,855 96,820,803
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 85,534,840
2 Enter amount from Part I, line 27a..................... 2 15,967,931
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 101,502,771
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 4,683,427
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 96,819,344
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 DISPOSAL OF COMPUTER EQUIPMENT P   2014-01-24
b IVORY FLAGSHIP FUND, LP - K-1 SECTION 1256 GAINS - NET LONG TERM P   2014-12-31
c IVORY FLAGSHIP FUND, LP - K-1 SECTION 1256 GAINS - NET SHORT TERM P   2014-12-31
d IVORY FLAGSHIP FUND, LP - K-1 SECTION - NET SHORT TERM P   2014-12-31
e IVORY FLAGSHIP FUND, LP - K-1 SECTION - NET LONG TERM P   2014-12-31
SIGULER GUFF II - K-1 SHORT TERM P   2014-12-31
SIGULER GUFF II - K-1 LONG TERM P   2014-12-31
SIGULER GUFF II - K-1 SECTION 1256 GAINS - NET SHORT TERM P   2014-12-31
SIGULER GUFF II - K-1 SECTION 1256 GAINS - NET LONG TERM P   2014-12-31
SIGULER GUFF III - K-1 SHORT TERM P   2014-12-31
SIGULER GUFF III - K-1 LONG TERM P   2014-12-31
SIGULER GUFF III - K-1 SECTION 1256 GAINS - NET SHORT TERM P   2014-12-31
SIGULER GUFF III - K-1 SECTION 1256 GAINS - NET LONG TERM P   2014-12-31
ALYDAR FUND, LP - K-1 SHORT TERM P   2014-12-31
ALYDAR FUND, LP - K-1 LONG TERM P   2014-12-31
ABERDEEN SMALL CO FUND - K-1 SHORT TERM P   2014-12-31
ABERDEEN SMALL CO FUND - K-1 LONG TERM P   2014-12-31
IR&M CORE BOND FUND II - K-1 SHORT TERM P   2014-12-31
IR&M CORE BOND FUND II - K-1 LONG TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 SECTION 1256 GAINS - NET LONG TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 SECTION 1256 GAINS - NET SHORT TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 - NET SHORT TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 SECTION 1256 GAINS - NET LONG TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 SECTION 1256 GAINS - NET SHORT TERM P   2014-12-31
POWERSHARES DB COMMODITY - K-1 - NET LONG TERM P   2014-12-31
SIGULER GUFF DISTRESSED OPPORTUNITIES FUND III LP - SECTION 1231 GAIN P   2014-12-31
SIGULER GUFF DISTRESSED OPPORTUNITIES FUND II LP - SECTION 1231 GAIN P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - HOUSE ACCOUNT P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - HOUSE ACCOUNT P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - WINDHAVEN P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - WINDHAVEN P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - PIMCO SECTION P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - PIMCO SECTION P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - RAINIER SECTION P   2014-12-31
PUBLICLY TRADED SECURITIES - FIDUCIARY TRUST - RAINIER SECTION P   2014-12-31
REALIZED GAIN - VH REALTY P   2014-12-31
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   903 903 0
b     17,999 -17,999
c     12,000 -12,000
d 193,292     193,292
e 24,262     24,262
    91 -91
    3,164 -3,164
64     64
95     95
1,161     1,161
91,910     91,910
242     242
364     364
    34,389 -34,389
318,226     318,226
    6 -6
    66,606 -66,606
2,732     2,732
5,863     5,863
    8,188 -8,188
    5,458 -5,458
    184 -184
    34,470 -34,470
    23,255 -23,255
    157 -157
20     20
1     1
2,134,086   2,104,542 29,544
6,397,131   5,373,889 1,023,242
1,221,029   1,239,904 -18,875
463,855   392,111 71,744
367,758   367,498 260
12,468,668   11,802,743 665,925
36,879   35,203 1,676
3,758,086   1,768,608 1,989,478
7,637     7,637
1,411,597     1,411,597
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       0
b       -17,999
c       -12,000
d       193,292
e       24,262
      -91
      -3,164
      64
      95
      1,161
      91,910
      242
      364
      -34,389
      318,226
      -6
      -66,606
      2,732
      5,863
      -8,188
      -5,458
      -184
      -34,470
      -23,255
      -157
      20
      1
      29,544
      1,023,242
      -18,875
      71,744
      260
      665,925
      1,676
      1,989,478
      7,637
      1,411,597
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 5,614,493
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 4,247,210 81,282,971 0.052252
2012 4,552,611 75,974,081 0.059923
2011 2,657,287 77,460,408 0.034305
2010 776,807 72,431,013 0.010725
2009 1,213,889 63,622,642 0.019080
2 Total of line 1, column (d) ...................... 2 0.176285
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 0.035257
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 85,696,224
5 Multiply line 4 by line 3....................... 5 3,021,392
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 73,577
7 Add lines 5 and 6......................... 7 3,094,969
8 Enter qualifying distributions from Part XII, line 4.............. 8 4,540,569
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 73,577
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 73,577
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 73,577
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 88,529
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 20,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 108,529
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 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 34,952
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet34,952 RefundedBullet 11 0
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)
    bulletMA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.KENDALL.ORG
    14
    The books are in care ofbulletJOHN MCCRAE Telephone no.bullet (617) 951-2525
    Located atbullet176 FEDERAL STREETBOSTONMA ZIP+4bullet02110
    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
     
    No
    .........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
    JOHN P KENDALL TRUSTEE
    2.00     		0 0 0
    176 FEDERAL STREET
    BOSTON,MA02110
    ANDREW W KENDALL TRUSTEE/EXECUTIVE DIRECTOR
    40.00     		307,661 45,579 0
    176 FEDERAL STREET
    BOSTON,MA02110
    PHOEBE S WINDER TRUSTEE
    2.00     		0 0 0
    176 FEDERAL STREET
    BOSTON,MA02110
    KENNETH F MEYERS TRUSTEE
    2.00     		0 0 0
    176 FEDERAL STREET
    BOSTON,MA02110
    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
    COURTNEY J BOURNS SENIOR PROGRAM OFFIC
    40.00     		128,164 18,446 0
    176 FEDERAL STREET
    BOSTON,MA02110
    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
    FIDUCIARY TRUST COMPANY INVESTMENT CUSTODIAL FEES 51,239
    600 FIFTH AVENUE
    NEW YORK,NY10020
    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
    85,086,429
    b
    Average of monthly cash balances.......................
    1b
    506,694
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,408,120
    d
    Total (add lines 1a, b, and c).........................
    1d
    87,001,243
    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
    87,001,243
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,305,019
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    85,696,224
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    4,284,811
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    4,284,811
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    73,577
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    73,577
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    4,211,234
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    4,211,234
    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
    4,211,234
    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
    4,535,998
    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
    4,571
    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
    4,540,569
    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
    73,577
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    4,466,992
    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 4,211,234
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    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....... 561,910
    e From 2013.......  
    fTotal of lines 3a through e......... 561,910
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 4,540,569
    a Applied to 2013, but not more than line 2a 0
    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..... 4,211,234
    e Remaining amount distributed out of corpus 329,335
    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 5 891,245
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		500,000
    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 ......     		391,245
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012.... 391,245
    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 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
    AMERICAN FARMLAND TRUST
    1 SHORT STREET
    NORTHAMPTON,MA01060     		NO RELATIONSHIP PC TO SUPPORT THE NEW ENGLAND DIRECTOR IN THEIR LEADERSHIP ROLE IN BUILDING A MORE SUSTAINABLE AND JUST FOOD SYSTEM THROUGHOUT NEW ENGLAND AND TO CONDUCT OUTREACH AROUND THE PUBLICATION, NEW ENGLAND FOOD POLICY: BUILDING A SUSTAINABLE FOOD SYSTEM. 40,000
    BOLTON WALKERS DBA JUST CAUSE WALK FOR BREAST CANCER
    PO BOX 132
    BOLTON,MA01740     		NO RELATIONSHIP PC TO SUPPORT JUST 'CAUSE WALK FOR BREAST CANCER. 10,000
    BOSTON PUBLIC MARKET ASSOCIATION
    PO BOX 52385
    BOSTON,MA02205     		NO RELATIONSHIP PC TO SUPPORT FUNDING REQUIREMENTS FOR THE MARKET'S GROUNDBREAKING AND OPENING. 652,000
    CISA
    1 SUGARLOAF STREET
    SOUTH DEERFIELD,MA01373     		NO RELATIONSHIP PC TO BUILD GREATER LOCAL FOOD SYSTEMS AWARENESS AND ENGAGEMENT IN HAMPDEN COUNTY, MA. 125,000
    CITY OF BOSTON
    ONE CITY HALL ROOM 811
    BOSTON,MA02201     		NO RELATIONSHIP PC TO SUPPORT RESEARCH TO UNDERSTAND BOSTON'S ROLE IN THE REGIONAL FOOD SYSTEM. 75,000
    CITY OF CHICOPEE
    650 FRONT STREET
    CHICOPEE,MA01013     		NO RELATIONSHIP PC TO SUPPORT DEVELOPMENT AND IMPLEMENTATION OF A PLAN FOR INCREASING THE PURCHASE OF LOCALLY GROWN FOOD IN CHICOPEE PUBLIC SCHOOLS. 59,000
    CITYSEED INC
    817 GRAND AVENUE NO 101
    NEW HAVEN,CT06511     		NO RELATIONSHIP PC TO SUPPORT CREATION OF CITY OF NEW HAVEN FOOD SYSTEM DIRECTOR POSITION. 8,686
    CODMAN SQUARE HEALTH CENTER
    637 WASHINGTON STREET
    DORCHESTER,MA02124     		NO RELATIONSHIP PC TO SUPPORT HEALTHY FOOD SERVICE PROGRAMS AT CODMAN ACADEMY CHARTER PUBLIC SCHOOL AND CODMAN ACADEMY. 15,000
    COMMUNITY FOUNDATION OF SOUTHEASTERN MASSACHUSETTS
    30 CORNELL STREET
    NEW BEDFORD,MA02740     		NO RELATIONSHIP PC TO SUPPORT PLANNING FOR A CRAFT ABATTOIR AND MEAT PROCESSING FACILITY IN WESTPORT, MA. 25,000
    CONSERVATION LAW FOUNDATION
    62 SUMMER STREET
    BOSTON,MA02110     		NO RELATIONSHIP PC TO SUPPORT PUBLIC EDUCATION AND OUTREACH FOR "NEW ENGLAND FOOD POLICY: BUILDING A SUSTAINABLE FOOD SYSTEM" PUBLICATION. 25,000
    DORCHESTER BAY ECONOMIC DEVELOPMENT CORP
    594 COLUMBIA ROAD
    DORCHESTER,MA02125     		NO RELATIONSHIP PC TO SUPPORT A CAPITAL CAMPAIGN FOR A SHARED-USE COMMERCIAL KITCHEN FACILITY. 275,000
    ECORI INC
    111 HOPE STREET
    PROVIDENCE,RI02906     		NO RELATIONSHIP PC TO INCREASE ITS RESIDENTIAL COMPOST CUSTOMER BASE AND BRING AWARENESS TO THE ISSUE OF COMPOSTING AS AN INTEGRAL PART OF THE LOCAL FOOD SYSTEM IN SOUTHERN NEW ENGLAND. 20,000
    FARM FRESH RHODE ISLAND
    1005 MAIN ST 1220
    PAWTUCKET,RI02860     		NO RELATIONSHIP PC FOR GENERAL OPERATING SUPPORT TO CONTINUE CONNECTING LOCAL GROWERS TO NEW MARKETS AND STRENGTHENING RHODE ISLAND'S FOOD SYSTEM AND LOCAL ECONOMY. 40,000
    FRANKLIN COUNTY COMMUNITY DEV CORP
    324 WELLS ST
    GREENFIELD,MA01301     		NO RELATIONSHIP PC TO SUPPORT THE DEVELOPMENT AND IMPLEMENTATION OF FARM TO INSTITUTION NEW ENGLAND'S THREE-YEAR STRATEGIC PLAN; AND FOR GENERAL OPERATING SUPPORT FOR A FOOD BUSINESS DEVELOPMENT SPECIALIST. 102,000
    FRIENDS OF SOUTH GEORGIA ISLAND
    25 DAKOTA MEADOWS DRIVE
    CARBONDALE,CO81623     		NO RELATIONSHIP PC TO SUPPORT HABITAT RESTORATION. 50,000
    GROW SMART RHODE ISLAND
    235 PROMENADE ST SUITE 550
    PROVIDENCE,RI02908     		NO RELATIONSHIP PC TO CONTINUE THEIR WORK TO INCREASE THE ECONOMIC VITALITY OF RHODE ISLAND AGRICULTURE AND STRENGTHEN RHODE ISLAND'S FOOD SYSTEM. 40,000
    HAMPSHIRE COLLEGE
    893 WEST ST
    AMHERST,MA01002     		NO RELATIONSHIP PC TO SUPPORT THE 100% LOCAL FOOD CHALLENGE. 200,000
    HARTFOOD FOOD SYSTEM INC
    86 PARK STREET 2ND FLOOR
    HARTFORD,CT06106     		NO RELATIONSHIP PC TO SUPPORT THE GROWTH AND DEVELOPMENT OF THE CT FOOD SYSTEM ALLIANCE, A STATE-WIDE NETWORK OF DIVERSE STAKEHOLDERS COMMITTED TO ADVANCING A SUSTAINABLE FOOD SYSTEM IN CONNECTICUT; AND FOR CONTINUED SUPPORT OF THE POLICY ANALYST POSITION TO STRENGTHEN HFS'S RELATIONSHIP WITH THE CITY OF HARTFORD ADVISORY COMMISSION ON FOOD POLICY. 62,000
    HEALTH CARE WITHOUT HARM
    12355 SUNRISE VALLEY DR
    RESTON,VA20191     		NO RELATIONSHIP PC TO CONTINUE THEIR WORK IN AGGREGATING THE DEMAND AND COLLECTIVE VOICE OF THE HEALTHCARE SECTOR TO PROPEL THE DEVELOPMENT OF A HEALTHY, SUSTAINABLE, AND TRANSPARENT FOOD SYSTEM IN NEW ENGLAND. 60,000
    HEALTH RESOURCES IN ACTION
    95 BERKELEY STREET
    BOSTON,MA02116     		NO RELATIONSHIP PC TO SUPPORT THE WORK OF THE MASSACHUSETTS CONVERGENCE PARTNERSHIP AS IT BEGINS TO IMPLEMENT A TWO-YEAR STRATEGIC PLAN TO PROMOTE EQUITABLE ACCESS TO HEALTHY FOODS. 10,000
    INNOVATION NETWORK FOR COMMUNITIES
    PO BOX 397
    BEAVER ISLAND,MI49782     		NO RELATIONSHIP PC TO SUPPORT THE OPERATIONS OF THE BOSTON GREEN RIBBON COMMISSION. 25,000
    JUST FOOD INC
    1155 AVENUE OF THE AMERICAS 3RD
    FLOOR
    NEW YORK,NY10036     		NO RELATIONSHIP PC TO SUPPORT DEVELOPMENT OF COMMUNICATIONS TOOLS AND CAPACITY. 114,000
    MAINE ASSOCIATION OF NONPROFITS
    565 CONGRESS ST SUITE 301
    PORTLAND,ME04101     		NO RELATIONSHIP PC TO SUPPORT THE SUSTAINABLE FOOD SYSTEMS LEADERSHIP INSTITUTE. 45,000
    MOUNT GRACE LAND CONSERVATION TRUST
    1461 OLD KEENE ROAD
    ATHOL,MA01331     		NO RELATIONSHIP PC TO INCREASE THE CAPACITY FOR THEIR FARM CONSERVATION PROGRAM, SUPPORT WORK COLLABORATIVELY WITH THE WESTERN MA FOOD PROCESSING CENTER, AND HELP OTHER LAND TRUSTS IN MA AND THROUGHOUT NEW ENGLAND ENGAGE IN FOOD SYSTEMS WORK. 50,000
    NORTHWEST ATLANTIC MARINE ALLIANCE
    PO BOX 7066 30 LEVERETT STREET
    GLOUCESTER,MA01930     		NO RELATIONSHIP PC TO CONTINUE THEIR WORK WITH KEY REGIONAL NETWORKS THAT ARE ENVISIONING A WAY FOR NEW ENGLANDERS TO FEED THEMSELVES MOSTLY LOCALLY CAUGHT, RAISED AND GROWN FOOD WHILE ALSO ADDRESSING RACIAL INEQUITY AND FOOD INJUSTICE IN THE FOOD SYSTEM. 25,000
    PARTNERS FOR A HEALTHIER COMMUNITY INC
    PO BOX 4895
    SPRINGFIELD,MA01101     		NO RELATIONSHIP PC TO CONTINUE SUPPORT OF THE SPRINGFIELD FOOD POLICY COUNCIL AND CAPITALIZE ON OPPORTUNITIES FOR ADVANCING WORK ON URBAN AGRICULTURE, INSTITUTIONAL FOOD PROCUREMENT PRACTICES, AND EXPANDING A BUY-LOCAL CAMPAIGN IN SPRINGFIELD. 260,000
    PROJECT BREAD
    145 BORDER STREET
    EAST BOSTON,MA02128     		NO RELATIONSHIP PC TO SUPPORT A STRATEGIC PLANNING PROCESS FOR MASSACHUSETTS FARM TO SCHOOL. 50,000
    PROJECT HIP-HOP INC
    2181 WASHINGTON STREET SUITE 315
    ROXBURY,MA02119     		NO RELATIONSHIP PC TO SUPPORT A TWO-DAY RETREAT FOR YOUTH IN THE WHITE MOUNTAINS. 3,000
    RED TOMATO
    1033 TURNPIKE STREET
    CANTON,MA02021     		NO RELATIONSHIP PC GENERAL OPERATING AND STRATEGIC PLANNING SUPPORT. 100,000
    RHODE ISLAND ASSOCIATION OF CONSERVATION DISTRICT
    2283 HARTFORD AVENUE
    JOHNSTON,RI02919     		NO RELATIONSHIP PC FOR GENERAL OPERATING AND MARKET STRATEGY SUPPORT FOR THE RI AGRICULTURE PARTNERSHIP TO CONTINUE FACILITATING THE EVOLUTION OF SYSTEMS THAT ENABLE DEVELOPMENT OF AGRICULTURE AND FOOD SYSTEMS IN THE STATE. 51,435
    SMITH COLLEGE
    10 ELM STREET
    NORTHAMPTON,MA01063     		NO RELATIONSHIP PC TO SUPPORT DEVELOPMENT OF A SUSTAINABLE FOOD PROGRAM. 83,410
    SOUTHSIDE COMMUNITY LAND TRUST
    109 SOMERSET STREET
    PROVIDENCE,RI02907     		NO RELATIONSHIP PC FOR GENERAL OPERATING SUPPORT TO CONTINUE PROVIDING ACCESS TO LAND, EDUCATION AND OTHER RESOURCES SO PEOPLE IN GREATER PROVIDENCE CAN GROW FOOD IN SAFE AND SUSTAINABLE WAYS. 40,000
    THIRD SECTOR NEW ENGLAND
    89 SOUTH STREET 700
    BOSTON,MA02111     		NO RELATIONSHIP PC TO SUPPORT THE REAL FOOD CHALLENGE IN EXPANDING THEIR WORK IN INCREASING LOCAL, ECOLOGICALLY SOUND, FAIR AND HUMANE FOOD, I.E. "REAL FOOD", AT THE NEW ENGLAND COLLEGES AND UNIVERSITIES; AND TO SUPPORT THE RI FOOD POLICY COUNCIL'S WORK GROUPS NETWORK AND THE LOCAL AGRICULTURAL AND SEAFOOD ACT GRANT FUND. 185,000
    UNIVERSITY OF MAINE SYSTEM
    PO BOX 9300
    PORTLAND,ME04104     		NO RELATIONSHIP PC TO SUPPORT PHASE TWO OF MAINE FOOD STRATEGY INITIATIVE. 40,000
    UNIVERSITY OF MASSACHUSETTS FOUNDATION
    225 FRANKLIN STREET
    BOSTON,MA02110     		NO RELATIONSHIP PC TO SUPPORT TRANSFORMATION OF FOOD SERVICE PROGRAM. 285,000
    UNIVERSITY OF NEW HAMPSHIRE FOUNDATION
    131 MAIN STREET
    DURHAM,NH03824     		NO RELATIONSHIP PC GENERAL OPERATING SUPPORT, CONFERENCE SCHOLARSHIPS AND PROGRAM SUPPORT FOR FOOD SOLUTIONS NEW ENGLAND AND THE NH FOOD ALLIANCE. 220,175
    VERMONT SUSTAINABLE JOBS FUND
    3 PITKIN COURT SUITE 301E
    MONTPELIER,VT05602     		NO RELATIONSHIP PC TO SUPPORT THE VERMONT FARM TO PLATE NETWORK'S WORK GROUP AND VERMONT SUSTAINABLE JOBS FUND. 75,000
    WEST ELMWOOD HOUSING DEVELOPMENT CORP
    224 DEXTER STREET
    PROVIDENCE,RI02907     		NO RELATIONSHIP PC TO SUPPORT DEVELOPMENT OF A FOOD CO-OP PROJECT, URBAN GREENS FOOD CO-OP. 45,000
    YMCA OF GREATER BOSTON
    316 HUNTINGTON AVE
    BOSTON,MA02115     		NO RELATIONSHIP PC TO SUPPORT THE LAUNCH OF THE COMMUNITY/TEACHING KITCHEN PROGRAM. 60,000
    Total .................................bullet 3a 3,650,706
    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 1,940,610  
    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 27,540  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 5,686,205  
    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 7,654,355 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    137,654,355
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


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

    04-6029103
    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
    HENRY P KENDALL FOUNDATION
          		Employer identification number

    04-6029103
    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
    BARR FOUNDATION
     

       
    THE PILOT HOUSE LEWIS WHARF
     
    BOSTON, MA02110

    		$500,000


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

    JOHN P KENDALL  
    176 FEDERAL STREET
     
    BOSTON, MA02110

    		$12,644,357


    (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
    HENRY P KENDALL FOUNDATION
          		Employer identification number

    04-6029103
    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
    2
    		 NUMISMATIC ITEMS (COIN COLLECTION) $ 12,644,357 2014-07-10
    (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
    HENRY P KENDALL FOUNDATION
          		Employer identification number

    04-6029103
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 AccountingFeesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 28,500 14,250   14,250

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

    TY 2014 DepreciationSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    COMPUTER EQUIPMENT 2003 - 2008 2006-12-31 3,343 3,343 200DB 5.000000000000 0 0    
    COMPUTER EQUIPMENT - 2010 2010-12-31 27,094 24,834 200DB 5.000000000000 1,507 0    
    COMPUTER EQUIPMENT - 2011 2011-12-31 8,009 5,369 200DB 5.000000000000 1,055 0    
    LEASEHOLD IMPROVEMENTS 2003-06-01 21,795 5,915 SL 39.000000000000 559 0    
    FURNITURE & FIXTURES 2002-07-01 6,740 6,740 200DB 7.000000000000 0 0    
    FURNITURE & FIXTURES 2006-05-02 2,572 2,572 200DB 7.000000000000 0 0    
    FURNITURE & FIXTURES 2008-08-15 2,216 1,919 200DB 7.000000000000 198 0    
    COMPUTER EQUIPMENT - 2011 2011-12-31 903 594 200DB 5.000000000000 15 0    
    COMPUTER EQUIPMENT - 2013 2013-11-22 947 24 200DB 5.000000000000 180 0    
    COMPUTER EQUIPMENT - 2014 2014-05-15 2,855 1,428 200DB 5.000000000000 285 0    
    COMPUTER EQUIPMENT - 2014 2014-12-01 1,716 858 200DB 5.000000000000 171 0    
    COMPUTER EQUIPMENT - 2014 2014-01-24 776 388 200DB 5.000000000000 106 0    

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SECURITIES, FIXED INCOME & MUTUAL FUNDS 80,096,355 80,096,355

    TY 2014 LandEtcSchedule2
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    COMPUTER EQUIPMENT 2003 - 2008 3,343 3,343 0  
    COMPUTER EQUIPMENT - 2010 27,094 26,341 753  
    COMPUTER EQUIPMENT - 2011 8,009 6,424 1,585  
    LEASEHOLD IMPROVEMENTS 21,795 6,474 15,321  
    FURNITURE & FIXTURES 6,740 6,740 0  
    FURNITURE & FIXTURES 2,572 2,572 0  
    FURNITURE & FIXTURES 2,216 2,117 99  
    COMPUTER EQUIPMENT - 2013 947 678 269  
    COMPUTER EQUIPMENT - 2014 2,855 1,713 1,142  
    COMPUTER EQUIPMENT - 2014 1,716 1,029 687  
    COMPUTER EQUIPMENT - 2014 776 494 282  


    TY 2014 LegalFeesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 35,359 9,805   25,554


    TY 2014 OtherAssetsSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSITS 13,240 13,240 13,240
    COIN COLLECTION 0 12,644,357 12,644,357


    TY 2014 OtherDecreasesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description Amount
       
       


    TY 2014 OtherExpensesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMPUTER EXPENSE 17,673 0   17,673
    OFFICE EXPENSE 6,727 0   6,727
    POSTAGE & DELIVERY 361 0   361
    PROGRAM EXPENSES 56,509 0   56,509
    TELEPHONE & INTERNET 16,638 0   16,638
    SHARON PROPERTY COSTS 869 0   869
    DEDUCTIONS FROM ALYDAR K-1 7,059 7,059   0
    DEDUCTIONS FROM IVORY K-1 18,665 18,665   0
    DEDUCTIONS FROM SIGULER GUFF II K-1 15,687 15,687   0
    DEDUCTIONS FROM SIGULER GUFF III K-1 21,551 21,551   0
    DEDUCTIONS FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND K-1 0 416   0
    DEDUCTIONS FROM POWERSHARES DB COMMODITY INDEX TRACKING FUND K-1 0 1,402   0
    DEDUCTIONS FROM ABERDEEN EMERGING MARKETS SMALL COMPANY K-1 1,082 1,082   0
    DEDUCTIONS FROM IR&M CORE BOND FUND II K-1 1,253 1,253   0
    DEDUCTIONS FROM CRESCENT DIRECT LENDING FUND K-1 11,000 11,000   0


    TY 2014 OtherIncomeSchedule2
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ALYDAR FUND L.P. - K-1 -14,004 -14,004 -14,004
    IVORY - K-1 -39,991 -39,991 -39,991
    SIGULER GUFF DISTRESSED OPPORTUNITIES FUND II, LP - K-1 8,160 8,160 8,160
    SIGULER GUFF DISTRESSED OPPORTUNITIES FUND III, LP - K-1 46,344 46,344 46,344
    CRESCENT DIRECT LENDING FUND, LP - K-1 -10 -10 -10
    ENTERPRISE PRODUCTS PARTNERS L.P. - K-1 0 -204 0
    ABERDEEN SMALLER COMPANY FUND 22,567 22,567 22,567
    MISCELLANEOUS INCOME 4,474 4,474 4,474


    TY 2014 OtherLiabilitiesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Description Beginning of Year - Book Value End of Year - Book Value
    INVESTMENT - PARTNERSHIP - PURCHASE PAYABLE 557,016 0


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

    TY 2014 OtherNotesLoansRcvblLongSch
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103

    Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
    NONE 125,000 126,875 2013-11 2020-11 LUMP SUM, INCLUDING ACCRUED INTEREST 150.0000000000 %   PROGRAM-RELATED INVESTMENT CASH 125,000

    TY 2014 OtherProfessionalFeesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ALLOCABLE CONSULTING FEES 89,531 34,735   54,796
    INVESTMENT MANAGEMENT FEES 36,707 36,707   0
    CUSTODIAN FEES 51,239 51,239   0
    CURATORIAL EXPENSE 4,000 0   4,000
    PROFESSIONAL DEVELOPMENT 1,339 0   1,339


    TY 2014 TaxesSchedule
    Name:
    HENRY P KENDALL FOUNDATION
    EIN: 04-6029103
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MASSACHUSETTS ANNUAL REPORT - FORM PC 500 0   500
    FEDERAL EXCISE TAX ON NET INVESTMENT INCOME 65,000 0   0