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
SCHWAB-SILFEN FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 5796 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
HARRISBURG, PA17110

A Employer identification number

23-6401901

B Telephone number (see instructions)

(717) 233-8083

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

$6,688,422J 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)..............	269,856
2	Check
	Sch. B ...............
3	Interest on savings and temporary cash investments	14		14
4	Dividends and interest from securities......	290,942		290,942
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		205,559
b	Gross sales price for all assets on line 6a 838,908
7	Capital gain net income (from Part IV, line 2)...			205,559
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........	766,371		496,515
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).......		5,800	1,740	4,060
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		16,110	2,478
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		20,210	16,980	3,230
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	42,120		21,198	7,290
25	Contributions, gifts, grants paid........	338,868			338,868
26	Total expenses and disbursements. Add lines 24 and 25	380,988		21,198	346,158
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	385,383
b	Net investment income (if negative, enter -0-)			475,317
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...............	107,666	70,828	70,828
	2	Savings and temporary cash investments..........	91,599	94,533	94,533
	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)
	b	Investments—corporate stock (attach schedule)........	4,078,021	4,484,115	6,498,063
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	50,000	25,000	24,998
	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)	4,327,286	4,674,476	6,688,422
	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.........	4,327,286	4,674,476
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions)......	4,327,286	4,674,476
	31	Total liabilities and net assets/fund balances (see instructions)..	4,327,286	4,674,476

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	4,327,286
2	Enter amount from Part I, line 27a.....................	2	385,383
3	Other increases not included in line 2 (itemize)	3
4	Add lines 1, 2, and 3..........................	4	4,712,669
5	Decreases not included in line 2 (itemize)	5	38,193
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	4,674,476

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	HILLSHIRE BRANDS CO	D	2014-08-06	2014-08-29
b	NUVEEN ENERGY MLP TOTAL RETURN	P	2014-01-03	2014-05-20
c	CALL APPLE INC	P	2014-01-02	2014-12-31
d	CALL CHEVRON	P	2014-01-02	2014-12-31
e	EUROPACIFIC GROWTH FD CL A	P	2009-07-07	2014-05-09
	TORTOISE MLP FD INC	P	2014-10-07	2014-11-19
	CALL JP MORGAN CHASE	P	2014-01-02	2014-12-31
	CALL JP MORGAN CHASE	P	2014-01-02	2014-12-31
	FUNDAMENTAL INVS INC CL A	P	2009-09-01	2014-04-23
	ALLIANZGI EQUITY & CONV INCOME FD	P	2012-08-08	2014-05-29
	CALL MICROSOFT CORP	P	2014-01-02	2014-12-31
	CALL GENERAL ELECTRIC CO	P	2014-01-02	2014-12-31
	INTL GROWTH & INCOME FUND CL A	P	2009-07-07	2014-05-09
	BLACKROCK GLOBAL OPPORTUNITIES EQUIT	P	2012-08-29	2014-05-29
	CALL MICROSOFT CORP	P	2014-01-02	2014-12-31
	CALL MICROSOFT	P	2014-01-02	2014-12-31
	INVESTMENT CO AMERICA CL A	P	2009-08-11	2014-05-09
	GABELLI DIVIDEND & INCOME TRUST	P	2012-08-28	2014-05-29
	CALL EXXON MOBIL CORP	P	2014-01-02	2014-12-31
	OPPENHEIMER RISING DIV FDS INC	P	2009-09-21	2014-04-22
	AT&T INC	P	1988-02-02	2014-10-10
	CALL EXXON MOBIL CORP	P	2014-01-02	2014-12-31
	OPPENHEIMER INTL BOND FUND CL A	P	2009-11-30	2014-04-02
	AT&T INC	P	2005-11-21	2014-10-10
	CALL RITE AID CORP	P	2014-01-02	2014-12-31
	OPPENHEIMER REAL ESTATE FUND	P	2009-11-30	2014-03-05
	ALTRIA GROUP INC	P	1996-03-20	2014-05-09
	CALL RITE AID CORP	P	2014-01-02	2014-12-31
	OPPENHEIMER GOLD & SPL MINERALS	P	2011-12-21	2014-03-15
	FRONTIER COMMUNICATIONS CORP	D	1989-08-18	2014-04-02
	CALL GENERAL ELECTRIC CO	P	2014-01-02	2014-12-31
	AEGON N 7.25% PERP NON-CUM PFD	P	2007-09-14	2014-06-16
	PEPCO HOLDINGS CO	P	1989-05-02	2014-10-10
	CALL GENERAL ELECTRIC CO	P	2014-01-02	2014-12-31
	ISRAEL BOND	P	2011-07-01	2014-07-01
	ENBRIDGE ENERGY PARTNERS LP	P	2008-01-15	2014-07-23
	CALL INTL BUSINESS MACH	P	2014-01-02	2014-12-31
	CENTER COAST MLP & INFRASTRUCTURE	P	2014-04-01	2014-05-29
	ENTERPRISE PRODUCTS PARTNERS	P	2009-10-27	2014-07-23
	CALL INTL BUSINESS MACH	P	2014-01-02	2014-12-31
	CLEARBRIDGE AMERICAN ENERGY MLP FD	P	2014-04-01	2014-05-29
	KINDER MORGAN ENERGY PARTNERS LP	D	2010-12-15	2014-07-23
	CALL INTL BUSINESS MACH	P	2014-01-02	2014-12-31
	GOLDMAN SACHS MLP INCOME OPPORT	P	2014-07-31	2014-10-13
	CALL CUMMINS INC	P	2014-01-02	2014-12-31
	CALL APPLE INC	P	2014-01-02	2014-12-31
	NUVEEN S&P 500 BUY WRITE INC	P	2014-08-20	2014-12-23
	CALL CHEVRON CORP	P	2014-01-02	2014-12-31
	CALL CUMMINS	P	2014-01-02	2014-12-31

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	17,199	1,593	15,606
b	41,009	36,813	4,196
c	445		445
d	316	40	276
e	10,000	6,186	3,814
	72,615	68,304	4,311
	800	40	760
	400		400
	20,000	11,185	8,815
	20,218	17,315	2,903
	749	75	674
	689		689
	10,000	6,690	3,310
	15,063	13,293	1,770
	824	420	404
	824		824
	10,000	6,131	3,869
	22,650	16,120	6,530
	550	820	-270
	76,100	49,245	26,855
	9,212	1,965	7,247
	590		590
	50,000	52,430	-2,430
	8,039	5,150	2,889
	335	1,041	-706
	60,000	32,172	27,828
	16,053	2,767	13,286
	1,055	721	334
	38,177	76,232	-38,055
	1,080		1,080
	674	46	628
	40,000	40,000
	1,507	1,395	112
	434		434
	25,000	25,000
	70,599	50,980	19,619
	190		190
	18,850	17,300	1,550
	97,387	26,500	70,887
	220		220
	17,650	16,349	1,301
	16,737	6,904	9,833
	258	12	246
	41,714	42,027	-313
	765	15	750
	584		584
	12	13	-1
	285	30	255
	1,050	30	1,020

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			15,606
b			4,196
c			445
d			276
e			3,814
			4,311
			760
			400
			8,815
			2,903
			674
			689
			3,310
			1,770
			404
			824
			3,869
			6,530
			-270
			26,855
			7,247
			590
			-2,430
			2,889
			-706
			27,828
			13,286
			334
			-38,055
			1,080
			628

			112
			434

			19,619
			190
			1,550
			70,887
			220
			1,301
			9,833
			246
			-313
			750
			584
			-1
			255
			1,020

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	205,559
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	35,397

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	397,077	5,890,538	0.067409
2012	377,236	5,289,290	0.071321
2011	465,063	5,096,279	0.091255
2010	278,641	4,574,304	0.060914
2009	260,524	3,884,474	0.067068

2	Total of line 1, column (d) ......................	2	0.357967
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	0.071593
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	6,499,041
5	Multiply line 4 by line 3.......................	5	465,286
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	4,753
7	Add lines 5 and 6.........................	7	470,039
8	Enter qualifying distributions from Part XII, line 4..............	8	346,158
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	9,506
	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	9,506
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	9,506
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	8,800
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	8,800
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	706
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	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

N/A

The books are in care of bullet

ISRAEL SCHWAB Telephone no. bullet

(717) 233-8083

Located at bullet

3525 N 6TH STREETHARRISBURGPA ZIP+4 bullet

17110

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
ISRAEL SCHWAB	PRESIDENT 1.00	0	0	0
2525 NORTH 7TH STREET HARRISBURG,PA17110	PRESIDENT 1.00	0	0	0
ANDREW SCHWAB	SEC/TREAS 0.00	0	0	0
PO BOX 5796 HARRISBURG,PA17110	SEC/TREAS 0.00	0	0	0
MICHAEL SCHWAB	TRUSTEE 1.00	0	0	0
PO BOX 5796 HARRISBURG,PA17110	TRUSTEE 1.00	0	0	0
DANIEL SCHWAB	TRUSTEE 0.00	0	0	0
PO BOX 5796 HARRISBURG,PA17110	TRUSTEE 0.00	0	0	0
AMY SILFEN	TRUSTEE 0.00	0	0	0
PO BOX 5796 HARRISBURG,PA17110	TRUSTEE 0.00	0	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
NONE









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
NONE

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	N/A
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...................

6,518,374

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

79,637

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

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

6,598,011

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.........................

6,598,011

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

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

98,970

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

6,499,041

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

324,952

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....................

324,952

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

9,506

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

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

9,506

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

315,446

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

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

315,446

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

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

315,446

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 ..........

346,158

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

346,158

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

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

346,158

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	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7			315,446
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2014:
a From 2009.......	91,658
b From 2010.......	59,112
c From 2011.......	214,729
d From 2012.......	119,309
e From 2013.......	109,257
fTotal of lines 3a through e.........		594,065
4Qualifying distributions for 2014 from Part
XII, line 4: $ 346,158
a Applied to 2013, but not more than line 2a
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.....			315,446
e Remaining amount distributed out of corpus		30,712
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		624,777
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 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		91,658
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		533,119
10 Analysis of line 9:
a Excess from 2010....	59,112
b Excess from 2011....	214,729
c Excess from 2012....	119,309
d Excess from 2013....	109,257
e Excess from 2014....	30,712

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).)

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 e-mail address of the person to whom applications should be addressed:

ISRAEL SCHWAB
PO BOX 5796
HARRISBURG,PA17110
(717) 233-8083

bThe form in which applications should be submitted and information and materials they should include:

A LETTER STATING REQUEST FOR FUNDS AND EXPLANATION OF NEED.

cAny submission deadlines:

APPLICATIONS ARE ACCEPTED AT ANY TIME.

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

NONE

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
SEE SCHEDULE SEE SCHEDULE SEE SCHEDULE,PA17110	N/A	PUBLIC	ORGANIZATIONS' EXEMPT PURPOSE	338,868
Total ................................. 3a				338,868

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	14
4 Dividends and interest from securities....			14	290,942
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	205,559
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)..				496,515

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

13496,515

(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:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

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

SCHWAB-SILFEN FOUNDATION

Employer identification number

23-6401901

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

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

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... 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 SCHWAB-SILFEN FOUNDATION

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	D & H DISTRIBUTING COMPANY 2525 N SEVENTH STREET HARRISBURG, PA17110	$180,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	JARB POST OFFICE BOX 5796 HARRISBURG, PA17110	$19,809	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	D & H CARES 2525 N SEVENTH STREET HARRISBURG, PA17110	$47,657	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
4	ANDREW E AND DOROTHY B SCHWAB 4310 NEW YORK COURT HARRISBURG, PA17112	$5,232	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
5	LOUIS E AND ELISABETH S NARROW 26 WOOD HOLME VILLAGE COURT BALTIMORE, MD21208	$17,158	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (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 SCHWAB-SILFEN FOUNDATION

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
2	412 SHARES MICROSOFT CORP	$ 19,809	2014-12-03
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
4	50 SHARES POWERSHARES QQQ SER 1	$ 5,232	2014-12-08
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
5	273 SHARES HILLSHIRE BRANDS CO	$ 17,158	2014-08-06
(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
SCHWAB-SILFEN FOUNDATION

Employer identification number

23-6401901

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

(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

(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

(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

(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:

- TIN:

TY 2014 AccountingFeesSchedule

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MARTIN M. SACKS ASSOC., CPA'S
ACCTG SRVCS/PREP OF FORM 990-PF	5,800	1,740		4,060

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AEGON N.V. 7.25% PFD
ALTRIA GROUP INC	6,917	49,270
APPLE INC	58,131	77,266
AT&T CORP	23,200	33,590
BANK OF AMERICA CORP	15,288	17,890
CHEVRON CORPORATION	64,193	67,308
CHEVRON CORPORATION
CITIGROUP INC	39,474	54,110
CUMMINS INC	24,798	43,251
ENBRIDGE ENERGY PARTNERS, LP
ENTERPRISE PRODS PARTNERS LP
EXXON MOBIL CORP	87,729	184,900
EXXON MOBIL CORP	8,350	92,450
FIRSTENERGY CORP	9,875	26,006
GENERAL ELECTRIC COMPANY	35,805	277,970
GENERAL ELECTRIC COMPANY	9,765	75,810
INTERNATIONAL BUSINESS MACHINES CO	6,686	32,088
INTERNATIONAL BUSINESS MACHINES CO	40,004	32,088
J P MORGAN CHASE & CO	22,431	125,160
JOHNSON & JOHNSON	2,826	62,742
KINDER MORGAN ENERGY PARTNERS
MARATHON OIL CORP	9,678	42,435
MCDONALDS CORP	44,893	46,850
MICROSOFT CORP	6,400	220,126
PEPCO HOLDINGS INC	9,552	13,465
PFIZER INC	17,018	31,680
RITE AID CORP	2,227	42,714
TECO ENERGY, INC	13,758	40,980
VERIZON COMMUNICATIONS	4,340	24,700
ZOETIS, INC	558	14,673
AMCAP FUND INC CL A	37,560	47,942
AMERICAN FDS DEVELOPING WORLD GROW	50,586	47,636
AMERICAN FDS GLOBAL BALANCED FUND	33,389	38,453
CAPITAL WORLD BOND FUND CL A	55,960	52,985
CAPITAL INCOME BUILDER FUND CL A	90,238	114,613
CAPITAL WORLD GROWTH & INCOME FUND	82,224	118,046
EUROPACIFIC GROWTH FUND CL A	74,289	89,764
FUNDAMENTAL INVESTORS FUND CL A	73,053	112,028
GOLDMAN SACHS CAPITAL GROWTH FUND	67,028	102,612
GROWTH FUND OF AMERICA CL A	73,254	108,737
INCOME FUND AMERICA INC CLASS A	33,845	41,208
INTERMEDIATE BOND FUND OF AMERICA	36,335	35,839
INTERNATIONAL GROWTH AND INCOME FU	85,221	93,005
INVESTMENT COMPANY OF AMERICA FUND	71,532	99,012
ISHARES TIP BOND FUND	50,446	56,005
ISHARES 7-10 YEAR TREAS BOND FUND	53,832	63,594
ISHARES 1-3 YEAR TREAS BOND FUND	50,322	50,670
ISHARES SELECT DIVIDENDS INDEX FUN	39,046	79,400
ISHARES US REAL ESTATE INDEX FUND	30,493	61,472
ISHARES MSCI EAFE INDEX FUND	35,869	48,672
ISHARES MSCI EMERGING MKTS INDEX F	31,175	39,290
ISHARES RUSSELL 2000 INDEX FUND	33,660	71,772
NEW ECOMONY FUND CL SBI CL A	56,940	72,946
NEW PERSPECTIVE FUND CL A	72,828	101,075
NEW WORLD FUND CL A	85,428	95,446
OPPENHEIMER COMMODITY STRATEGY TOT	97,339	68,081
OPPENHEIMER DEVELOPING MARKETS FUN	105,260	125,582
OPPENHEIMER EQUITY INCOME FUND CL	79,447	108,181
OPPENHEIMER GOLD AND SPECIAL MINER
OPPENHEIMER INTL BOND FUND CL A	128,148	115,802
OPPENHEIMER INTL GROWTH FUND CL A	79,231	113,184
OPPENHEIMER MAIN STREET OPPORTUNIT	35,760	60,965
OPPENHEIMER INTERNATIONAL VALUE FU	83,582	92,524
OPPENHEIMER FLEXIBLE STRATEGIES FU	101,615	107,367
OPPENHEIMER REAL ESTATE FUND CL A	66,444	110,853
OPPENHEIMER RISING DIVIDENDS FUND	223,367	293,625
OPPENHEIMER STEELPATH MLP ALPHA FU	143,957	141,922
POWERSHARES QQQ SERIES 1	1,930	5,163
SHORT TERM BOND FUND AMERICA INC C	53,045	52,706
SMALLCAP WORLD FUND CL A	177,051	207,241
SPDR DOW JONES INDL AVERAGE ETF	33,249	71,152
SPDR DOW JONES REIT ETF	39,981	109,080
VANGUARD REIT ETF	45,560	105,300
WASHINGTON MUTUAL INVESTORS FUND C	86,207	138,253
ALLIANZGI EQUITY & CONV INCOME FUN
BLACKROCK UTILITY & INFRASTRUCTURE	54,471	62,220
BLACKROCK GLOBAL OPPORTUNITIES EQU	27,483	26,260
BLACKROCK MULTI-SECTOR INCOME TRUS	18,675	16,770
CLEARBRIDGE AMERICAN ENERGY MLP FU	23,949	23,940
CLEARBRIDGE ENERGY MLP FUND	96,871	96,600
CLEARBRIDGE ENERGY MLP OPPORTUNITY	71,097	70,830
CLEARBRIDGE ENERGY MLP TOTAL RETUR	66,256	64,170
COHEN & STEERS QUALITY INCOME REAL	11,370	12,190
DUFF & PHELPS GLOBAL UTILITY INCOM	35,666	43,280
GABELLI DIVIDEND & INCOME TRUST
GOLDMAN SACHS MLP INCOME OPPORTUNI	30,120	26,160
GOLDMAN SACHS MLP ENERGY RENAISSAN	20,940	21,285
INVESCO DYNAMIC CR OPPORTUNITIES F	12,772	11,850
ISHARES GLOBAL 100 INDEX FUND	18,659	22,866
ISHARES MSCI EAFE INDEX	46,502	42,588
ISHARES MSCI EMERGING MARKETS	86,286	78,580
MORGAN STANLEY INCOME SECURITIES I	57,905	53,790
NUVEEN ALL CAP ENERGY MLP OPPORTUN	37,932	30,500
NUVEEN ENERGY MLP TOTAL RETURN FUN	20,160	20,320
NUVEEN PREFERRED INCOME OPPORTUNIT	30,000	19,120
NUVEEN BUILD AMERICA BOND OPPTY FU	32,469	32,925
NUVEEN S&P 500 BUY-WRITE INC	12,811	11,844
PIMCO DYNAMIC CR INCOME FUND	49,568	41,300
SPDR S&P INTL ET DIVIDEND	45,650	42,020
TORTOISE MLP FUND INC	26,881	27,930

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
STATE OF ISRAEL BONDS		25,000	24,998

- TIN:

TY 2014 OtherDecreasesSchedule

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Description	Amount

- TIN:

TY 2014 OtherExpensesSchedule

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
EXPENSES
OFFICE SERVICES	6,430	3,215	3,215
PA FILING FEE	15		15
INVESTMENT EXPENSE	13,765	13,765

- TIN:

TY 2014 TaxesSchedule

Name:

SCHWAB-SILFEN FOUNDATION

EIN: 23-6401901

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FED'L EXCISE TAX ON NET INV INC	13,632
FOREIGN TAX WITHHELD ON DIVIDEND	2,478	2,478