TY 2014 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2014

Open to Public Inspection

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

Name of foundation
Richard and Diane Van Grunsven Family
Foundation
% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside RdSuite 123Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

27-4195377

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here bullet

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

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

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

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

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

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

$2,128,483J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach
	schedule)..............	0
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	42		42
4	Dividends and interest from securities......	61,587		61,587
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		75,123
b	Gross sales price for all assets on line 6a 1,021,170
7	Capital gain net income (from Part IV, line 2)...			75,123
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).......
12	Total. Add lines 1 through 11........	136,752		136,752
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		20,261	20,261
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		1,825	392
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		13,552	101	13,451
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	35,638		20,754	13,451
25	Contributions, gifts, grants paid........	87,500			87,500
26	Total expenses and disbursements. Add lines 24 and 25	123,138		20,754	100,951
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	13,614
b	Net investment income (if negative, enter -0-)			115,998
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........	948,289	41,612	41,612
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	110,625	80,538	84,229
	b	Investments—corporate stock (attach schedule)........	735,617	1,687,615	1,834,977
	c	Investments—corporate bonds (attach schedule)........	163,543	161,923	167,665
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,958,074	1,971,688	2,128,483
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	1,958,074	1,971,688
	30	Total net assets or fund balances (see instructions)......	1,958,074	1,971,688
	31	Total liabilities and net assets/fund balances (see instructions)..	1,958,074	1,971,688

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	1,958,074
2	Enter amount from Part I, line 27a.....................	2	13,614
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	1,971,688
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	1,971,688

Form 990-PF (2014)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,021,170	946,047	75,123
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			75,123
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	75,123
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2013	103,347	2,036,316	0.050752
2012	86,962	2,078,713	0.041835
2011	14,494	2,030,940	0.007137
2010	0	492,500	0.0
2009	0	0	0.0

2	Total of line 1, column (d) ......................	2	0.099724
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	0.024931
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	2,161,621
5	Multiply line 4 by line 3.......................	5	53,891
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	1,160
7	Add lines 5 and 6.........................	7	55,051
8	Enter qualifying distributions from Part XII, line 4..............	8	100,951
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2014)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	1,160
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	1,160
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,160
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	1,400
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	1,400
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	240
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax240	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

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

Yes

Website address bullet

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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

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

16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Form 990-PF (2014)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

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

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

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

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

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2014?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2014.)....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

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

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

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

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

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

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

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

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

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

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

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

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

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

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

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

Form 990-PF (2014)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Diane Van Grunsven	VP / Dir 1.0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	VP / Dir 1.0	0
Richard Van Grunsven	Pres / Dir / Sec 1.0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Pres / Dir / Sec 1.0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










Total number of other employees paid over $50,000...................

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2014)

Page 8

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

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

purposes:

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

2,088,396

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

106,143

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

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

2,194,539

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

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

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

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

2,194,539

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

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

32,918

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

2,161,621

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

108,081

Part XI

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

and do not complete this part.)

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

108,081

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

1,160

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

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

1,160

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

106,921

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

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

106,921

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

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

106,921

Part XII

Qualifying Distributions (see instructions)

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

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

100,951

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

100,951

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

1,160

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

99,791

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7				106,921
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......			99,649
b Total for prior years:2012, 2011, 2010
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.........
4Qualifying distributions for 2014 from Part
XII, line 4: $ 100,951
a Applied to 2013, but not more than line 2a				99,649
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions).........
d Applied to 2014 distributable amount.....				1,302
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2014.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........				105,619
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...
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....	0

Form 990-PF (2014)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2014, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

DIANE VAN GRUNSVEN

RICHARD VAN GRUNSVEN

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

aThe name, address, and telephone number or 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)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AIRWAY SCIENCE FOR KIDS INC 3155 NE CORNELL RD HILLSBORO,OR97124	N/A	PC	General & Unrestricted	5,000
BLANCHET HOUSE OF HOSPITALITY 1500 NE IRVING ST STE 440 PORTLAND,OR97232	N/A	PC	General & Unrestricted	10,000
DE PAUL TREATMENT CENTERS INC PO BOX 3007 PORTLAND,OR97208	N/A	PC	General & Unrestricted	5,000
DOCTORS WITHOUT BORDERS USA INC 333 7TH AVE 2ND FL NEW YORK,NY10001	N/A	PC	General & Unrestricted	1,000
FRANK LENTZ FOUNDATION LTD 8044 KARLOV AVE SKOKIE,IL60076	N/A	PC	General & Unrestricted	5,000
HABITAT FOR HUMANITY INTERNATIONAL 4676 COMMERCIAL ST SE 332 SALEM,OR97302	N/A	PC	General & Unrestricted	1,000
MARILLAC SOCIAL CENTER PO BOX 14699 CHICAGO,IL60614	N/A	PC	General & Unrestricted	500
MOTHERS AGAINST DRUNK DRIVING 511 E JOHN CARPENTER FREEWAY IRVING,TX75062	N/A	PC	General & Unrestricted	500
PORTLAND RESCUE MISSION 1507 NE 122ND AVE PORTLAND,OR97230	N/A	PC	General & Unrestricted	1,000
RAPHAEL HOUSE OF PORTLAND 4110 SE HAWTHORNE BLVD NO 503 PORTLAND,OR97214	N/A	PC	General & Unrestricted	500
SALVATION ARMY - CASCADE DIVISION 8495 SE MONTEREY AVE HAPPY VALLEY,OR97086	N/A	PC	General & Unrestricted	1,000
ST ANDRE BESSETTE CATHOLIC CHURCH PORTLAND OREGON 601 W BURNSIDE ST PORTLAND,OR97209	N/A	PC	Open doors Campaign	7,000
ST ANDREW LEGAL CLINIC 807 NE ALBERTA ST PORTLAND,OR97211	N/A	PC	General & Unrestricted	1,000
SUSAN G KOMEN BREAST CANCER FOUNDATION 1400 SW 5TH AVE STE 530 PORTLAND,OR97201	N/A	PC	General & Unrestricted	1,000
THUMBUDDY SPECIAL INC 1042 WASHINGTON BLVD APT 3 OAK PARK,IL60302	N/A	PC	General & Unrestricted	5,000
UNIVERSITY OF PORTLAND 5000 N WILLAMETTE BLVD PORTLAND,OR97203	N/A	PC	Bernard and Agnes Van Grunsven Memorial Scholarship Fund	10,000
UNIVERSITY OF PORTLAND 5000 N WILLAMETTE BLVD PORTLAND,OR97203	N/A	PC	to purchase Instron Electropuls E 10,000 Test System for use in University of Portland's Shiley Engineering School	33,000
Total ................................. 3a				87,500

bApproved for future payment

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

Form 990-PF (2014)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............			14	42
4 Dividends and interest from securities....			14	61,587
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	75,123
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)..				136,752

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

13136,752

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2014)

Page 13

Part XVII

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

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

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2014 DepreciationSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

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

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AFLAC INC - 3.625% - 11/15/202	5,091	5,098
AIG - 3.375% - 08/15/2020	5,099	5,194
ALCOA INC BD - 5.900% - 02/01/	2,022	2,178
ALTRIA GROUP INC - 2.85% - 08/	1,841	1,943
ANHEUSER BUSCH INBEV - 4.375%	4,929	5,460
APPLE INC NOTE - 2.400% - 05/0	4,940	4,849
ARCELORMITTAL - 3.750% - 08/05	5,080	5,075
AT&T INC - 3.875% - 08/15/2021	4,125	4,185
BANK NEW YORK - 3.650% - 02/04	5,053	5,229
BP CAPITAL MARKETS PLC - 4.500	3,128	3,246
BUNGE LTD FIN CORP - 4.100% -	2,009	2,062
BURLINGTON NORTHERN SANTA FE -	4,202	4,422
CAPITAL ONE FINL CORP - 6.150%	3,327	3,224
CCO HLDG LLC / CCO HLDG CAP -	2,005	2,125
CITIGROUP INC - 5.375% - 08/09	2,071	2,273
DIRECTV HLDGS LLC - 5.000% - 0	3,989	4,362
DOMINION RESOURCES INC - 5.200	3,258	3,346
ENERGY TRANSFER NT - 6.700% -	2,282	2,249
EXPRESS SCRIPTS INC - 3.125%	5,034	5,140
GE CAP CORP - 6.875% - 01/10/2	3,398	4,244
GEORGIA PAC CORP - 7.750% - 11	2,248	2,816
GOLDMAN SACHS GROUP INC NTS -	4,295	4,490
HEWLETT PACKARD CO NT - 2.600%	2,012	2,038
JPMORGAN CHASE & CO - 3.450% -	6,108	6,157
KRAFT FOODS INC - 4.125% - 02/	5,295	5,186
MCDONALDS CORP NT - 5.000% - 0	2,198	2,226
MORGAN STANLEY - 2.125% - 04/2	6,020	6,003
NABORS INDS INC - 6.150% - 02/	4,334	4,166
NEWMONT MINING CORP NT - 5.125	3,281	3,215
NEWS AMER INC - 6.400% - 12/15	2,146	2,610
NISOURCE FIN CORP - 6.125% - 0	2,182	2,371
OWENS CORNING NT - 7.000% - 12	2,020	2,478
PRUDENTIAL INC. - 4.750% - 09/	2,138	2,052
SHELL INTL FIN NT - 6.375% - 1	2,330	2,688
SIMON PROPERTY GROUP - 6.125%	2,255	2,276
SPRINT CAPITAL CORP - 6.875% -	2,714	2,640
STATOIL ASA - 1.150% - 05/15/2	4,000	3,923
TALISMAN ENERGY INC - 5.850% -	4,100	3,881
TIME WARNER CABLE INC - 5.850%	5,640	5,460
TIME WARNER CO - 6.625% - 05/1	2,191	2,514
UNITEDHEALTH GROUP BD - 5.375%	3,315	3,167
US STEEL CORP NT - 7.375% - 04	2,051	2,100
VERIZON - 3.000% - 11/01/2021	4,961	4,931
VODAFONE GROUP PLC NOTE - 1.62	1,999	1,999
WAL-MART STORES - 5.250% - 09/	4,007	4,811
WELLS FARGO CO - 4.600% - 04/0	5,200	5,563

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC.	12,543	16,164
ACE LTD	2,838	3,332
ACTAVIS PLC	19,426	21,365
ADVANCE AUTO PARTS INC	11,094	11,150
AETNA INC.	19,092	23,007
AKORN INC	20,229	20,236
ALTRIA GROUP INC	6,218	8,228
AMBEV SA	2,589	2,233
AMERICAN ELECTRIC POWER INC.	9,442	12,205
ANHEUSER BUSCH COS INC	15,091	14,826
APPLE INC.	9,553	21,745
ASTRAZENECA	12,278	11,965
AT&T, INC	9,297	9,237
AUTOMATIC DATA PROCESSING INC.	12,496	14,756
AVAGO TECHNOLOGIES LIMITED	19,347	23,840
BAIDU.COM - ADR	20,422	28,724
BANCO SANTANDER CEN	2,881	2,599
BARCLAYS PLC ADR	2,867	2,236
BCE INC	9,356	10,135
BLACKROCK GLOBAL LONG/SHORT CR	51,237	49,719
BLACKROCK INC	19,077	22,169
BP PLC SPONSORED ADR	15,762	12,885
BRITISH AMERICAN TOBACCO PLC	2,017	2,156
CAMECO CORPORATION	2,465	1,838
CANADIAN NATURAL RESOURCES LTD	2,539	2,069
CANADIAN PACIFIC RAILWAY LTD	3,026	3,854
CBRE GROUP INC	11,184	11,405
CELGENE CORP	11,162	10,515
CEMEX SA DE CV A ADS	2,584	2,109
CHINA UNICOM (HONG KONG) LTD	2,496	2,394
COHEN & STEERS CLOSED-END OPPO	29,397	29,755
COHEN & STEERS QLTY INCM RLTY	22,968	28,220
COMCAST CORP	15,747	22,855
COMMUNITY HEALTH	11,176	11,701
COMPANHIA BRASIL ADS	1,637	1,436
COMPANHIA SANEA ADS	3,013	1,906
CONSTELLATION BRANDS INC	20,129	23,953
CREDICORP LTD	2,763	3,364
CURTISS WRIGHT CP	19,914	20,542
DIGITAL RLTY TR INC	11,973	15,581
DOMINION RESOURCES INC	12,308	12,842
DU PONT DE NEMOURS	6,178	7,172
EATON VANCE FLOATING RATE ADVA	30,972	29,800
ELI LILLY & CO	9,863	10,969
FACEBOOK INC	19,308	22,782
FIDUCIARY CLAYMORE MLP OPP FD	28,029	28,105
FIRST TRUST CONSUMER DISCRETIO	7,801	8,699
FIRST TRUST CONSUMER STAPLES	7,126	8,514
FIRST TRUST DOW JONES INTERNET	8,300	8,523
FIRST TRUST HEALTH CARE ALPH	6,964	8,441
FT NYSE ARCA BIOTECH INDEX FUN	6,052	8,468
GENERAL ELECTRIC CO	12,456	11,649
GLOBAL X SUPERDIVIDEND	17,557	15,572
ICICI BK LTD ADS	2,401	3,869
ILLUMINA INC COM	7,883	21,965
ING GROUP N V SPONSORED ADR	2,043	1,803
INGERSOL-RAND PLC	3,418	3,677
INTEL CORP	10,159	14,189
ISHARE MSCI BELGIUM	3,854	3,742
ISHARE MSCI SPAIN IN	4,135	3,671
ISHARES 10 PLUS YEAR CREDIT BO	5,141	5,229
ISHARES BAA BA RATED CORPORATE	5,203	5,234
ISHARES CORE LONGTERM USD BOND	5,073	5,209
ISHARES DOW JONES US TOTAL MAR	3,480	3,832
ISHARES IBOXX $ INVESTMENT GRA	35,171	36,301
ISHARES INC MSCI SWITZERLAND I	3,840	3,739
ISHARES JP MORGAN	29,246	29,512
ISHARES LEHMAN 20+ YR TREAS	4,999	5,163
ISHARES MSCI INDONESIA INVES	3,940	3,924
ISHARES S&P U.S. PREFERRED STO	29,371	30,527
IVY HIGH INCOME FUND CLASS I	32,723	30,428
JAZZ PHARMACEUTICALS INC	8,753	20,466
JP MORGAN CHASE & CO	9,315	9,950
KIMBERLY CLARK CORP	12,336	14,096
KRAFT FOODS GROUP, INC.	9,229	10,715
LAM RESEARCH CORP	18,842	27,293
LEADERS SHORT TERM BOND FD INS	13,182	12,676
LENNAR CORP	18,086	18,193
LOCKHEED MARTIN CORP	12,398	15,598
LOOMIS SAYLES HIGH INCOME OPPO	33,952	34,229
LOOMIS SAYLES SECURITIZED ASSE	189,762	185,638
LORD ABBETT INVESTMENT TRUST S	53,812	52,769
LYONDELLBASELL INDUSTRIES NV	1,505	1,429
MAILLINCKRODT PLC	2,157	2,674
MCDONALD'S CORP	12,470	12,181
MCKESSON CORP	16,994	17,644
MICRON TECHNOLOGY	20,365	22,441
MKS INSTRUMENTS, INC	18,948	21,082
NXP SEMICONDUCTORS	2,189	3,820
O'REILLY AUTOMOTIVE INC.	15,927	20,418
OCCIDENTAL PETROLEUM CORP	12,214	10,963
PACCAR INC	12,452	14,350
PHILIP MORRIS INTL	6,156	6,027
PIONEER EQUITY INCOME FD CL Y	40,899	41,199
PIONEER STRATEGIC INCOME FD	83,603	81,905
PPL CORPORATION	9,455	11,408
PRUDENTIAL PLC SC	2,017	2,078
QTS REALTY TRUST	15,946	19,255
SENSATA TECHNOLOGIES HOLDINGS	2,621	2,883
SILVER WHEATON CORP	2,060	1,972
SK TELECOM ADS ADS	1,608	1,972
SKYWORKS SOLUTIONS, INC	20,590	27,412
SPECTRA ENERGY CORP-W/I	12,521	12,959
SUMITOMO MITSUI FINCL GRP	4,566	3,538
TAIWAN SEMICONDUCTOR MFG CO LT	20,359	21,798
TATA MOTORS LTD ADS	2,386	2,199
TCW GALILEO TOTAL RETURN BOND	23,859	24,313
TEVA PHARMECEUTICAL SP ADR	2,113	2,070
THOMSON REUTERS CORPORATION	6,242	6,696
TORONTO DOMINION	8,788	9,365
TOYOTA MTR CORP	2,602	2,886
UNITED RENTALS INC	19,926	18,362
VENTAS INC	12,392	14,627
VERIZON COMMUNICATIONS	12,376	12,069
VIPSHOP HOLDINGS LTD	15,841	27,161
WALT DISNEY HOLDINGS CO.	17,049	18,084
WUXI PHARMATECH CAYMAN INC	2,433	2,155

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

US Government Securities - End of Year Book Value:

80,538

US Government Securities - End of Year Fair Market Value:

84,229

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

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

- TIN:

TY 2014 OtherExpensesSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	13,426		13,426
Bank Charges	101	101
State or Local Filing Fees	25		25

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	20,261	20,261

- TIN:

TY 2014 TaxesSchedule

Name:

Richard and Diane Van Grunsven Family

Foundation

EIN: 27-4195377

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2014	1,400
990-PF Extension for 2013	33
Foreign Tax Paid	392	392