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
Michael and Ina Korek Foundation Trust
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

77-6140213
B Telephone number (see instructions)

(800) 839-1754
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$9,210,071J 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).............. 17,411
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 158 158  
4 Dividends and interest from securities...... 256,370 250,298  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 321,548
b Gross sales price for all assets on line 6a 4,861,221
7 Capital gain net income (from Part IV, line 2)... 435,109
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........ 595,487 685,565  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 91,456     91,456
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).... Click to see attachment 57,533 57,533    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 9,487 287    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 6,963     6,963
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 44,220 630   43,590
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 209,659 58,450   142,009
25 Contributions, gifts, grants paid........ 129,250 129,250
26 Total expenses and disbursements. Add lines 24 and 25 338,909 58,450   271,259
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 256,578
b Net investment income (if negative, enter -0-) 627,115
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing...............      
2 Savings and temporary cash investments.......... 1,463,829 1,440,100 1,440,100
3 Accounts receivable bullet1,696
Less: allowance for doubtful accounts bullet     1,696 1,696
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 1,164,317 Click to see attachment452,891 449,103
b Investments—corporate stock (attach schedule)........ 4,633,693 Click to see attachment5,317,256 5,444,002
c Investments—corporate bonds (attach schedule)........ 1,536,157 Click to see attachment1,844,014 1,854,868
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 75,000 Click to see attachment75,000 20,302
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 8,872,996 9,130,957 9,210,071
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment7,547 Click to see attachment8,205
23 Total liabilities (add lines 17 through 22).......... 7,547 8,205
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 8,865,449 9,122,752
30 Total net assets or fund balances (see instructions)...... 8,865,449 9,122,752
31 Total liabilities and net assets/fund balances (see instructions).. 8,872,996 9,130,957
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 8,865,449
2 Enter amount from Part I, line 27a..................... 2 256,578
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 725
4 Add lines 1, 2, and 3.......................... 4 9,122,752
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 9,122,752
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 4,861,221   4,426,112 435,109
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       435,109
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 435,109
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 131,827 6,775,764 0.019456
2012 55,598 1,156,197 0.048087
2011 44,597 988,079 0.045135
2010 39,947 896,855 0.044541
2009 44,441 809,403 0.054906
2 Total of line 1, column (d) ...................... 2 0.212125
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 0.042425
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 9,092,893
5 Multiply line 4 by line 3....................... 5 385,766
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 6,271
7 Add lines 5 and 6......................... 7 392,037
8 Enter qualifying distributions from Part XII, line 4.............. 8 271,259
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 12,542
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 12,542
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 12,542
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 15,433
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,433
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 2,891
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet2,891 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
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)
    bulletCA
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754
    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
    Teresa Babb Managing Trustee
    30.0     		91,456    
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brian Korek Executive Dir
    10.0     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Brock Peterlin Trustee
    1.0     		0    
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
     
    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)
    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.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    7,642,684
    b
    Average of monthly cash balances.......................
    1b
    1,568,377
    c
    Fair market value of all other assets (see instructions)................
    1c
    20,302
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,231,363
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    9,231,363
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    138,470
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,092,893
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    454,645
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    454,645
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    12,542
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    12,542
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    442,103
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    725
    5
    Add lines 3 and 4............................
    5
    442,828
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    442,828
    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
    271,259
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    271,259
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    271,259
    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 7 442,828
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 248,126
    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: bullet$ 271,259
    a Applied to 2013, but not more than line 2a 248,126
    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..... 23,133
    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 ..........     		419,695
    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)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    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 JEWISH COMMITTEE
    165 E 56TH ST
    NEW YORK,NY10022     		N/A PC General & Unrestricted 500
    AMERICAN LUNG ASSOCIATION
    1301 PENNSYLVANIA AVE NW STE 800
    WASHINGTON,DC20004     		N/A PC General & Unrestricted 500
    AMERICAN PROSTATE SOCIETY INC
    10 E LEE ST APT 701
    BALTIMORE,MD21202     		N/A PC General & Unrestricted 500
    AMNESTY INTERNATIONAL OF THE USA INC
    5 PENN PLZ FL 16
    NEW YORK,NY10001     		N/A PC General & Unrestricted 500
    ANIMAL LEGAL DEFENSE FUND
    170 E COTATI AVE
    COTATI,CA94931     		N/A PC General & Unrestricted 500
    BAY AREA CANCER CONNECTIONS
    2335 EL CAMINO REAL
    PALO ALTO,CA94306     		N/A PC General & Unrestricted 500
    BEST FRIENDS ANIMAL SOCIETY
    5001 ANGEL CANYON RD
    KANAB,UT84741     		N/A PC General & Unrestricted 1,000
    BOYS TOWN JERUSALEM FOUNDATION OF AMERICA INC
    1 PENN PLZ
    NEW YORK,NY10119     		N/A PC General & Unrestricted 500
    BRADY CENTER TO PREVENT GUN VIOLENCE
    1225 EYE ST NW STE 1100
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 500
    CALIFORNIA ACADEMY OF SCIENCES
    55 MUSIC CONCOURSE DR GOLDEN GA
    SAN FRANCISCO,CA94118     		N/A PC General & Unrestricted 500
    CALIFORNIA STATE PARKS FOUNDATION
    50 FRANCISCO ST STE 110
    SAN FRANCISCO,CA94133     		N/A PC General & Unrestricted 500
    CANCER CONTROL SOCIETY
    2043 N BERENDO ST
    LOS ANGELES,CA90027     		N/A PC General & Unrestricted 500
    CENTER FOR PUBLIC INTEGRITY
    910 17TH ST NW FL 7
    WASHINGTON,DC20006     		N/A PC General & Unrestricted 500
    CHABAD OF CALIFORNIA
    741 GAYLEY AVE
    LOS ANGELES,CA90024     		N/A PC General & Unrestricted 500
    CHAC
    PO BOX 335
    MOUNTAIN VIEW,CA94042     		N/A PC General & Unrestricted 1,500
    CHARITY GLOBAL INC - CHARITY WATER
    200 VARICK ST STE 201
    NEW YORK,NY10014     		N/A PC General & Unrestricted 1,000
    CHILD ADVOCATES OF SILICON VALLEY INC
    509 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 1,000
    CITY COLLEGE FUND
    160 CONVENT AVE S166
    NEW YORK,NY10031     		N/A PC General & Unrestricted 500
    COMMITTEE FOR ACCURACY IN MIDDLE East REPORTING IN
    PO BOX 35040
    BOSTON,MA02135     		N/A PC General & Unrestricted 500
    COMMONWEALTH CLUB OF CALIFORNIA
    555 POST ST
    SAN FRANCISCO,CA94102     		N/A PC General & Unrestricted 500
    COMMUNITY SCHOOL OF MUSIC AND ARTS
    230 SAN ANTONIO CIR
    MOUNTAIN VIEW,CA94040     		N/A PC naming the Music Theory room: "in memory of Ina Korek, lover of music and art"; naming a Baldwin Grand in a piano lesson studio "In memory of Cynthia Korek"; naming a Baldwin Grand in a piano lesson studio "In Memory of Sophie Peterlin" 30,000
    COMMUNITY SERVICES AGENCY
    204 STIERLIN RD
    MOUNTAIN VIEW,CA94043     		N/A PC General & Unrestricted 500
    CONGREGATION SHIR HADASH
    20 CHERRY BLOSSOM LN
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 500
    CONSUMERS UNION OF UNITED STATES INC
    101 TRUMAN AVE
    YONKERS,NY10703     		N/A PC General & Unrestricted 500
    COVENANT HOUSE WASHINGTON DC
    2001 MISSISSIPPI AVE SE
    WASHINGTON,DC20020     		N/A PC General & Unrestricted 500
    DEFENDERS OF WILDLIFE
    1130 17TH ST NW
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 500
    DIAN FOSSEY GORILLA FUND
    800 CHEROKEE AVE
    ATLANTA,GA30315     		N/A PC General & Unrestricted 500
    DOCTORS WITHOUT BORDERS USA INC
    333 7TH AVE 2ND FL
    NEW YORK,NY10001     		N/A PC General & Unrestricted 1,000
    EARTHJUSTICE
    50 CALIFORNIA ST STE 500
    SAN FRANCISCO,CA94111     		N/A PC General & Unrestricted 500
    ENVIRONMENT CALIFORNIA RESEARCH & POLICY CENTER
    1314 H ST NW STE 100
    SACRAMENTO,CA95814     		N/A PC General & Unrestricted 500
    ENVIRONMENTAL DEFENSE FUND INCORPORATED
    1875 CONNECTICUT AVE NW STE 600
    WASHINGTON,DC20009     		N/A PC General & Unrestricted 500
    FAIRWARNING INC
    17514 VENTURA BLVD STE 103
    ENCINO,CA91316     		N/A PC General & Unrestricted 5,000
    FINCA INTERNATIONAL INC
    1201 15TH ST
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 500
    FOOTHILL-DE ANZA COMMUNITY COLLEGES FOUNDATION
    12345 S EL MONTE RD
    LOS ALTOS HLS,CA94022     		N/A PC General & Unrestricted 500
    GLAUCOMA RESEARCH FOUNDATION
    251 POST ST STE 600
    SAN FRANCISCO,CA94108     		N/A PC General & Unrestricted 500
    GLIDE MEMORIAL UNITED METHODIST CHURCH
    330 ELLIS ST
    SAN FRANCISCO,CA94102     		N/A PC General & Unrestricted 500
    GREENPEACE FUND INC
    702 H ST NW STE 300
    WASHINGTON,DC20001     		N/A PC General & Unrestricted 500
    H E R WEEKEND INC
    PO BOX 77
    WOODLAND HLS,CA91365     		N/A PC General & Unrestricted 3,250
    HIAS INC
    333 7TH AVE 16TH FLR
    NEW YORK,NY10001     		N/A PC General & Unrestricted 500
    HONEST REPORTING COM INC
    10024 SKOKIE BLVD STE 201
    SKOKIE,IL60077     		N/A PC General & Unrestricted 500
    HORSES FOR HEALING THERAPEUTIC RIDING CENTER
    PO BOX 4839
    AUBURN,CA95604     		N/A PC General & Unrestricted 500
    IEEE FOUNDATION INC
    445 HOES LN
    PISCATAWAY,NJ08854     		N/A PC General & Unrestricted 500
    INSTITUTE OF HEARTMATH
    PO BOX 1463
    BOULDER CREEK,CA95006     		N/A PC General & Unrestricted 500
    INSTITUTE OF NOETIC SCIENCES
    101 SAN ANTONIO RD
    PETALUMA,CA94952     		N/A PC General & Unrestricted 500
    INTERNATIONAL FELLOWSHIP OF CHRISTIANS & JEWS
    PO BOX 96105
    WASHINGTON,IL20090     		N/A PC General & Unrestricted 500
    INTERNATIONAL MEDIA PROJECT
    1714 FRANKLIN ST STE 100-251
    OAKLAND,CA94612     		N/A PC General & Unrestricted 500
    INTERNATIONAL PLANNED PARENTHOOD FEDERATION
    125 MAIDEN LN FL 9
    NEW YORK,NY10038     		N/A PC General & Unrestricted 500
    INTERNATIONAL RESCUE COMMITTEE INC
    122 E 42ND ST
    NEW YORK,NY10168     		N/A PC General & Unrestricted 500
    ISRAEL EMERGENCY ALLIANCE
    6505 WILSHIRE BLVD
    LOS ANGELES,CA90048     		N/A PC General & Unrestricted 500
    JEWISH FAMILY & CHILDRENS SERVICES
    PO BOX 156500
    SAN FRANCISCO,CA94115     		N/A PC General & Unrestricted 500
    JEWISH FEDERATION OF SILICON VALLEY
    14855 OKA RD
    LOS GATOS,CA95032     		N/A PC General & Unrestricted 500
    JEWISH NATIONAL FUND-KEREN KAYEMETH LEISRAEL INC
    42 E 69TH ST
    NEW YORK,NY10021     		N/A PC General & Unrestricted 500
    KIDNEY CANCER ASSOCIATION
    1234 SHERMAN AVE STE 203
    EVANSTON,IL60202     		N/A PC General & Unrestricted 500
    MARINE MAMMAL CENTER
    2000 BUNKER RD FORT CRONKHITE
    SAUSALITO,CA94965     		N/A PC General & Unrestricted 500
    MONO LAKE FOUNDATION
    PO BOX 29
    LEE VINING,CA93541     		N/A PC General & Unrestricted 500
    NATIONAL ASSOC OF STATE BOATING LAW ADMINISTrators
    1648 MCGRATHIANA PKWY STE 360
    LEXINGTON,KY40511     		N/A PC NASBLA, Operation Drywater Campaign, and Lake Englebright California for Operation Drywater campaign and safe boating related issues 20,000
    NATURAL RESOURCES DEFENSE COUNCIL INC
    40 W 20TH ST
    NEW YORK,NY10011     		N/A PC General & Unrestricted 500
    NEXT DOOR SOLUTIONS TO DOMESTIC VIOLENCE
    234 E GISH RD STE 200
    SAN JOSE,CA95112     		N/A PC General & Unrestricted 500
    NIKE ANIMAL RESCUE FOUNDATION
    5463 SHERIDAN RD
    SUNOL,CA94586     		N/A PC General & Unrestricted 500
    ONE CHILD
    1900 MOWRY AVE
    FREMONT,CA94538     		N/A PC General & Unrestricted 500
    ORGANIC CONSUMERS ASSOCIATION
    6771 S SILVER HILL DR
    FINLAND,MN55603     		N/A PC General & Unrestricted 500
    PAACT INC
    1143 PARMELEE AVE NW
    GRAND RAPIDS,MI49504     		N/A PC General & Unrestricted 500
    PACIFIC WHALE FOUNDATION
    300 MAALAEA RD STE 211
    WAILUKU,HI96793     		N/A PC General & Unrestricted 500
    PALACE OF FINE ARTS LEAGUE INC
    3301 LYON ST
    SAN FRANCISCO,CA94123     		N/A PC General & Unrestricted 500
    PATHWAYS HOME HEALTH AND HOSPICE
    585 N MARY AVE
    SUNNYVALE,CA94085     		N/A PC General & Unrestricted 1,000
    PENINSULA HUMANE SOCIETY & SPCA
    1450 ROLLINS RD
    BURLINGAME,CA94010     		N/A PC General & Unrestricted 1,000
    PEOPLE FOR THE AMERICAN WAY FOUNDATION
    1101 15TH ST NW STE 600
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 500
    PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS INC
    501 FRONT ST
    NORFOLK,VA23510     		N/A PC General & Unrestricted 500
    PETS IN NEED
    871 5TH AVE
    REDWOOD CITY,CA94063     		N/A PC General & Unrestricted 2,000
    PHYSICIANS COMMITTEE FOR RESPONSIBLE MEDICINE INC
    5100 WISCONSIN AVE NW STE 400
    WASHINGTON,DC20016     		N/A PC General & Unrestricted 500
    PHYSICIANS FOR SOCIAL RESPONSIBILITY INC
    1111 14TH ST NW STE 700
    WASHINGTON,DC20005     		N/A PC General & Unrestricted 500
    POLYTECHNIC INSTITUTE OF NEW YORK UNIVERSITY
    6 METROTECH CTR
    BROOKLYN,NY11201     		N/A PC General & Unrestricted 500
    PRIDE INDUSTRIES
    10030 FOOTHILLS BLVD
    ROSEVILLE,CA95747     		N/A PC General & Unrestricted 500
    PROJECT OPEN HAND
    730 POLK ST 3RD FL
    SAN FRANCISCO,CA94109     		N/A PC General & Unrestricted 500
    PROSTATE AWARENESS FOUNDATION
    PO BOX 2934
    SANTA ROSA,CA95405     		N/A PC General & Unrestricted 500
    PROSTATE CANCER RESEARCH INSTITUTE
    5777 W CENTURY BLVD STE 800
    LOS ANGELES,CA90045     		N/A PC General & Unrestricted 500
    RESEARCH TO PREVENT BLINDNESS INC
    645 MADISON AVE
    NEW YORK,NY10022     		N/A PC General & Unrestricted 500
    SAN FRANCISCO AIDS FOUNDATION
    1035 MARKET ST STE 400
    SAN FRANCISCO,CA94103     		N/A PC General & Unrestricted 500
    SAN FRANCISCO BAY BIRD OBSERVATORY
    524 VALLEY WAY
    MILPITAS,CA95035     		N/A PC General & Unrestricted 500
    SAN FRANCISCO CITY GUIDES
    100 LARKIN ST
    SAN FRANCISCO,CA94102     		N/A PC General & Unrestricted 500
    SAN FRANCISCO SYMPHONY
    201 VAN NESS AVE
    SAN FRANCISCO,CA94102     		N/A PC General & Unrestricted 500
    SAN JOSE MUSEUM OF ART ASSOCIATION
    110 S MARKET ST
    SAN JOSE,CA95113     		N/A PC General & Unrestricted 500
    SECOND HARVEST FOOD BANK OF SANTA CLARA &SAN MAteo
    750 CURTNER AVE
    SAN JOSE,CA95125     		N/A PC General & Unrestricted 2,000
    SIERRA CLUB FOUNDATION
    85 2ND ST STE 750
    SAN FRANCISCO,CA94105     		N/A PC General & Unrestricted 500
    SILICON VALLEY CREATES
    38 W SANTA CLARA ST
    SAN JOSE,CA95113     		N/A PC General & Unrestricted 500
    SILICON VALLEY JEWISH FILM FESTIVAL
    830 STEWART DR
    SUNNYVALE,CA94085     		N/A PC General & Unrestricted 500
    SIMON WIESENTHAL CENTER
    1399 S ROXBURY 2ND FL
    LOS ANGELES,CA90035     		N/A PC General & Unrestricted 500
    SMART LIFE FORUM INC
    14436 ESTERLEE DR
    SARATOGA,CA95070     		N/A PC General & Unrestricted 3,500
    SOLAR COOKERS INTERNATIONAL
    1919 21ST ST STE 203
    SACRAMENTO,CA95811     		N/A PC General & Unrestricted 500
    TAWONGA JEWISH COMMUNITY CORPORATION
    131 STEUART ST STE 460
    SAN FRANCISCO,CA94105     		N/A PC General & Unrestricted 1,000
    THE ELEPHANT SANCTUARY IN TENNESSEE
    PO BOX 393
    HOHENWALD,TN38462     		N/A PC General & Unrestricted 1,000
    THE HEALTH TRUST Meals-on-Wheels Program
    2105 S BASCOM AVE STUITE 220
    CAMPBELL,CA95125     		N/A PC General & Unrestricted 500
    THE MANKIND PROJECT
    801 N BRAND BLVD
    GLENDALE,CA91203     		N/A PC General & Unrestricted 5,000
    THE MANKIND PROJECT
    801 N BRAND BLVD
    GLENDALE,CA91203     		N/A PC NorCal Scholarship Fund 5,000
    THE SALVATION ARMY - SANTA CLARA COUNTY
    359 N 4TH ST
    SAN JOSE,CA95109     		N/A PC General & Unrestricted 500
    THE TECH MUSEUM OF INNOVATION
    201 S MARKET ST
    SAN JOSE,CA95113     		N/A PC General & Unrestricted 500
    THEATREWORKS
    350 TWIN DOLPHIN DR STE 127
    REDWOOD CITY,CA94065     		N/A PC General & Unrestricted 500
    TIBET AID
    34 TINKER ST
    WOODSTOCK,NY12498     		N/A PC General & Unrestricted 500
    US TOO INTERNATIONAL INC
    5003 FAIRVIEW AVE
    DOWNERS GROVE,IL60515     		N/A PC General & Unrestricted 500
    UTILITY REFORM NETWORK
    268 BUSH ST STE 3933
    SAN FRANCISCO,CA94104     		N/A PC General & Unrestricted 500
    VIETNAM VETERANS OF CALIFORNIA INC
    PO BOX 378
    SANTA ROSA,CA95402     		N/A PC General & Unrestricted 500
    WILDERNESS SOCIETY
    1615 M ST NW
    WASHINGTON,DC20036     		N/A PC General & Unrestricted 500
    WILDLIFE CONSERVATION SOCIETY
    2300 SOUTHERN BLVD
    BRONX,NY10460     		N/A PC General & Unrestricted 500
    WORLD AFFAIRS COUNCIL OF NORTHERN CALIFORNIA
    312 SUTTER ST STE 200
    SAN FRANCISCO,CA94108     		N/A PC General & Unrestricted 500
    WORLD WILDLIFE FUND INC
    1250 24TH ST NW
    WASHINGTON,DC20090     		N/A PC General & Unrestricted 500
    YOUNG MENS CHRISTIAN ASSOCIATION SILICON VALLEY
    1922 THE ALAMEDA 3RD FL
    SAN JOSE,CA95126     		N/A PC General & Unrestricted 500
    Total .................................bullet 3a 129,250
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 158  
    4 Dividends and interest from securities....     14 256,370  
    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 .............     		    18 321,548  
    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)..   578,076  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13578,076
    (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



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         		Firm's EINbullet
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    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
    Michael and Ina Korek Foundation Trust
     
    Employer identification number

    77-6140213
    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
    Michael and Ina Korek Foundation Trust
          		Employer identification number

    77-6140213
    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
     
     

    Estate of Michael Korek  
    c/o Brian Korek 132 Hamilton Court
     
    Los Altos, CA94022

    		$7,411


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

    Korek Brian  
    132 Hamilton Court
     
    Los Altos, CA94022

    		$10,000


    (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
    Michael and Ina Korek Foundation Trust
          		Employer identification number

    77-6140213
    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
     
    		$    
    (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
    Michael and Ina Korek Foundation Trust
          		Employer identification number

    77-6140213
    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:  

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    TY 2014 DepreciationSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    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

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AEQUITAS COMMERCIAL FINANCE LL 204,110 269,276
    AMERICAN EXPRESS BK FSB MTN - 89,693 83,607
    ANHEUSER BUSCH INBEV WW - 5.37 91,403 84,948
    BANK OF AMERICA - 4.250% - 10/ 34,843 34,921
    CATHEDRAL CITY CALIFORNIA REDE 20,014 20,532
    CHESAPEAKE ENERGY CORP - 6.500 16,587 16,013
    CITIGROUP INC - 4.875% - 05/0 106,659 101,327
    DENVER COLORADO HEALTH AND HOS 50,018 52,338
    DIRECT TV - 3.125% - 02/15/201 78,612 76,703
    EAST CHICAGO IND MULTI SCH - 3 60,017 60,665
    EBAY INC - 3.250% - 10/15/2020 71,484 71,203
    GENERAL ELEC CAP CORP - 2.950% 79,248 77,189
    GENERAL ELECTRIC CAPITAL CORP 80,829 78,359
    GOLDMAN SACHS GRP INC - 6.000% 117,169 115,211
    GOVT NATL ASSN II POOL #4293 - 12,408 12,410
    HCP INC NT - 3.875% - 08/15/20 9,974 10,158
    HUSKY ENERGY INC - 7.250% - 12 64,548 58,623
    JPMORGAN CHASE & CO FR - 3.875 63,827 65,055
    KEYCORP NOTE - 3.750% - 08/13/ 106,620 101,759
    LEGG MASON INC GLBL NT - 3.950 45,951 45,629
    LEHMAN BRTH HLD ESCROW DPS - 7    
    LEHMAN BRTHRS HLDGRRBOND - 0.0    
    PEABODY ENERGY CORP - 6.250% - 10,037 8,550
    PEORIA ILL TAXABLE GO BDS SER. 62,470 61,315
    PRUDENTIAL FINL INC-4.750%-06/ 70,214 66,078
    QUEST DIAGNOSTIC INC - 6.400% 87,659 83,486
    STATE PUB SCH BLDG AUTH PA SCH 25,013 25,816
    TRANSOCEAN INC SR NT - 5.050% 62,207 60,287
    VALERO ENERGY CORP - 6.125% - 122,400 113,410

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ASTON RIVER ROAD INDEPENDENT V 457,169 426,769
    BANK NEW YORK MELLON CORP COM 39,386 47,264
    BECTON DICKINSON & CO 28,082 34,233
    BERKLEY W R CP 42,593 53,003
    BERKSHIRE HATHAWAY INC. CLASS 9,401 13,514
    DOUBLELINE CORE FIXED INCOME I 216,835 210,717
    DOUBLELINE TOTAL RETURN BOND 645,956 630,604
    EXPEDITORS INTL WASH INC. 43,009 47,108
    EXPRESS SCRIPTS HOLDING CO. 124,997 154,523
    FAIRFAX FINL HLDGS LTD 69,465 92,748
    FINANCIAL SEL SPDR 70,170 79,136
    FRANCO NEV CORP 31,966 34,925
    GROUPE DANONE ADS 72,142 64,336
    HUMANA INC 60,873 94,078
    INTEL CORP 35,442 51,350
    ISHARES FTSE CHINA 25 INDEX FU 76,036 79,078
    ISHARES TRUST MSCI EAFE INDEX 43,455 42,588
    ITC HOLDINGS CORP 33,285 38,206
    JOHNSON & JOHNSON 69,929 82,401
    JP MORGAN CHASE & CO 64,174 75,722
    MCCORMICK & CO 35,165 37,596
    MERCK & CO INC. 56,335 65,876
    MICROSOFT CORPORATION 95,840 130,664
    NESTLE S.A. 67,043 66,457
    PHILIP MORRIS INTL 55,549 53,024
    PRAXAIR INC. 15,822 16,065
    RESOLUTE FOREST PRODUCTS INC 49,669 50,999
    ROYAL GOLD INC COM 27,515 31,538
    SANOFI-AVENTIS SPONSORED ADR 64,052 56,556
    SCHLUMBERGER LTD 33,396 31,602
    SELECT SECTOR SPDR-HEALTH CARE 102,662 123,084
    SPDR GOLD SHARES 315,860 234,202
    SPDR S&P 500 ETF TRUST 229,543 287,756
    SPECTRA ENERGY CORP-W/I 80,249 84,434
    SYSCO CORP 102,085 118,078
    VIRTUS EMERGING MARKETS OPPTS 553,129 542,732
    VODAFONE GROUP PLC 92,705 83,819
    WAL-MART STORES INC. 66,115 73,857
    WASH ST HSG - 3.150% - 12/01/2 60,014 60,045
    WELLS FARGO ADVTG ABSLT RETURN 912,805 869,470
    WISDOMTREE JAPAN HEDGED EQUITY 67,338 73,845

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    US Government Securities - End of Year Book Value:

    9,216
    US Government Securities - End of Year Fair Market Value:

    9,680
    State & Local Government Securities - End of Year Book Value:


    443,675
    State & Local Government Securities - End of Year Fair Market Value:


    439,423


    TY 2014 InvestmentsOtherSchedule2
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ZSPACE, INC   75,000 20,302

    TY 2014 OtherExpensesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 42,115     42,115
    Bank Charges 630 630    
    Foundation Dues & Memberships 1,475     1,475


    TY 2014 OtherIncreasesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Description Amount
       


    TY 2014 OtherLiabilitiesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Description Beginning of Year - Book Value End of Year - Book Value
    OUTSTANDING OPTIONS 7,547 8,205


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 57,533 57,533    


    TY 2014 TaxesSchedule
    Name:
    Michael and Ina Korek Foundation Trust
    EIN: 77-6140213
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2014 9,200      
    Foreign Tax Paid 287 287