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
JACOB S SHAPIRO FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4436 2545 WILKENS AVENUE   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21223
A Employer identification number

52-6072215
B Telephone number (see instructions)

(410) 566-9200
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$5,526,315J 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)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 15,139 15,139  
4 Dividends and interest from securities...... 71,831 71,831  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 288,234
b Gross sales price for all assets on line 6a 1,711,667
7 Capital gain net income (from Part IV, line 2)... 288,234
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 48 48  
12 Total. Add lines 1 through 11........ 375,252 375,252  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,600 0   0
c Other professional fees (attach schedule).... Click to see attachment 71,556 71,556   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,481 2,481   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 276 276   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 75,913 74,313   0
25 Contributions, gifts, grants paid........ 255,000 255,000
26 Total expenses and disbursements. Add lines 24 and 25 330,913 74,313   255,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 44,339
b Net investment income (if negative, enter -0-) 300,939
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............... 23,429 10,779 10,779
2 Savings and temporary cash investments.......... 356,288 188,490 188,490
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 153,969 Click to see attachment199,030 201,806
b Investments—corporate stock (attach schedule)........ 1,970,138 Click to see attachment2,209,701 3,916,635
c Investments—corporate bonds (attach schedule)........ 372,074 Click to see attachment524,332 525,808
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 652,095 Click to see attachment440,000 682,797
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) 3,527,993 3,572,332 5,526,315
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)    
23 Total liabilities (add lines 17 through 22).......... 0 0
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......... 3,527,993 3,572,332
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)...... 3,527,993 3,572,332
31 Total liabilities and net assets/fund balances (see instructions).. 3,527,993 3,572,332
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 3,527,993
2 Enter amount from Part I, line 27a..................... 2 44,339
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 3,572,332
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 3,572,332
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 FIDELITY INVESTMENTS-PUBLICLY TRADED SECURITIES-SHORT TERM P    
b FIDELITY INVESTMENTS-PUBLICLY TRADED SECURITIES-LONG TERM P    
c GABELLI & COMPANY-PUBLICLY TRADED SECURITIES-SHORT TERM P    
d GABELLI & COMPANY-PUBLICLY TRADED SECURITIES-LONG TERM P    
e MT YALE PRIVATE EQUITY OFF SHORE FUND P    
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 418,978   421,145 -2,167
b 1,146,814   918,270 228,544
c 2,977   2,957 20
d 59,820   21,061 38,759
e 82,121   60,000 22,121
957     957
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       -2,167
b       228,544
c       20
d       38,759
e       22,121
      957
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 2 288,234
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 227,000 5,157,634 0.044012
2012 222,000 4,625,564 0.047994
2011 272,302 4,784,878 0.056909
2010 225,000 5,221,955 0.043087
2009 289,871 4,545,787 0.063767
2 Total of line 1, column (d) ...................... 2 0.255769
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 0.051154
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 5,508,973
5 Multiply line 4 by line 3....................... 5 281,806
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 3,009
7 Add lines 5 and 6......................... 7 284,815
8 Enter qualifying distributions from Part XII, line 4.............. 8 255,000
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 6,019
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 6,019
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 6,019
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 8,187
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 7,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,187
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 9,168
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet9,168 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMD
    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 addressbulletNONE
    14
    The books are in care ofbulletKATHY HESSELBEIN Telephone no.bullet (410) 566-9200
    Located atbullet2545 WILKENS AVEBALTIMOREMD ZIP+4bullet21223
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    JAMES R SHAPIRO TRUSTEE
    0.50     		0 0 0
    2545 WILKENS AVENUE
    BALTIMORE,MD21223
    JANE BAUM RODBELL TRUSTEE
    0.50     		0 0 0
    2545 WILKENS AVENUE
    BALTIMORE,MD21223
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    5,347,739
    b
    Average of monthly cash balances.......................
    1b
    245,127
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    5,592,866
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    5,592,866
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    83,893
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    5,508,973
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    275,449
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    275,449
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    6,019
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,019
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    269,430
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    269,430
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    269,430
    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
    255,000
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    255,000
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    255,000
    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 7 269,430
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 252,349
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 255,000
    a Applied to 2013, but not more than line 2a 252,349
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 2,651
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		266,779
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    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
    ADVOCATES FOR CHILDREN AND YOUTH
    8 MARKET PLACE 5TH FLOOR
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 250
    AMERICAN TECHNION SOCIETY
    55 EAST 59TH ST
    NEW YORK,NY10022     		NONE PUBLIC GENERAL 1,500
    AMERICAN VISIONARY ART MUSEUM
    800 KEY HIGHWAY
    BALTIMORE,MD21230     		NONE PUBLIC GENERAL 1,000
    ASSOCIATED JEWISH COMMUNITY FOUNDATION
    101 WEST MOUNT ROYAL AVE
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 80,000
    BALTIMORE COMMUNITY FOUNDATION
    2 EAST READ ST
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 83,030
    BALTIMORE LEADERSHIP SCHOOL FOR YOUNG WOMEN
    128 W FRANKLIN ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 1,000
    BALTIMORE MUSEUM OF ART
    10 ART MUSEUM DR
    BALTIMORE,MD21218     		NONE PUBLIC GENERAL 1,500
    BALTIMORE SCHOOL FOR THE ARTS
    712 CATHEDRAL ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 18,500
    BALTIMORE SYMPHONY ORCHESTRA
    1212 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 5,000
    BROWN UNIVERSITY
    PO BOX 1976
    PROVIDENCE,RI02912     		NONE PUBLIC GENERAL 250
    CENTER STAGE
    700 NORTH CLAVERT STREET
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 500
    CENTRAL SCHOLARSHIP BUREAU
    6 PARK CENTER COURT SUITE 211
    OWINGS MILLS,MD21117     		NONE PUBLIC GENERAL 500
    CORNELL UNIVERSITY
    130 E SENECA ST SUITE 400
    ITHACA,NY14850     		NONE PUBLIC GENERAL 250
    ENOCH PRATT FREE LIBRARY
    400 CATHEDRAL ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 1,000
    ETZ CHAIM CENTER INC
    3702 FORDS LN
    BALTIMORE,MD21215     		NONE PUBLIC GENERAL 2,000
    EVERYMAN THEATRE
    315 WEST FAYETTE STREET
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 250
    GILMAN SCHOOL SCHOLARSHIP FUND
    5407 ROLAND AVE
    BALTIMORE,MD21210     		NONE PUBLIC GENERAL 250
    GUILFORD COLLEGE
    5800 WEST FRIENDLY AVE
    GREENSBORO,NC27410     		NONE PUBLIC GENERAL 250
    INNTERIM HOUSING CORP
    112 SUDBROOK LANE
    BALTIMORE,MD21208     		NONE PUBLIC GENERAL 1,500
    JEWISH COMMUNITY CENTER OF GREATER BALTIMORE
    3506 GYWNNBROOK AVENUE
    OWINGS MILLS,MD21117     		NONE PUBLIC GORDON CENTER 5,000
    JOHNS HOPKINS UNIVERSITY DEPT OF NEUROLOGY
    100 N CHARLES ST SUITE 453
    BALTIMORE,MD21201     		NONE PUBLIC PROJECT RESTORE DIVISION FUND 1,000
    KENNEDY KRIEGER FOUNDATION
    707 NORTH BROADWAY
    BALTIMORE,MD21205     		NONE PUBLIC GENERAL 4,000
    LIVING CLASSROOMS FOUNDATION
    802 SOUTH CAROLINE ST
    BALTIMORE,MD21231     		NONE PUBLIC GENERAL 500
    MARYLAND ART PLACE
    8 MARKET PLACE SUITE 100
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 500
    MARYLAND HISTORICAL SOCIETY
    201 WEST MONUMENT ST
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 250
    MARYLAND INSTITUTE COLLEGE OF ART
    1300 MOUNT ROYAL AVE
    BALTIMORE,MD21217     		NONE PUBLIC GENERAL 1,000
    MARYLAND PUBLIC TELEVISION
    11767 OWINGS MILLS BLVD
    BALTIMORE,MD21117     		NONE PUBLIC GENERAL 1,500
    NACHLAT NAFTALY FOUNDATION
    2418 AVENUE I
    BROOKLYN,NY11210     		NONE PUBLIC GENERAL 500
    NATIONAL AQUARIUM IN BALTIMORE
    501 E PRATT STREET
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 1,200
    NER ISRAEL RABBINICAL COLLEGE
    400 MOUNT WILSON LN
    BALTIMORE,MD21208     		NONE PUBLIC GENERAL 2,000
    PARK SCHOOL
    2425 OLD COURT ROAD
    BROOKLANDVILLE,MD21208     		NONE PUBLIC GENERAL 2,500
    PLANNED PARENTHOOD OF MARYLAND
    300 N HOWARD STREET
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 500
    POLYCYSTIC KIDNEY DISEASE
    8330 WARD PARKWAY SUITE 500
    KANSAS CITY,MO64114     		NONE PUBLIC GENERAL 250
    ROLLINS COLLEGE
    1000 HOLT AVE
    WINTER PARK,FL32789     		NONE PUBLIC GENERAL 250
    SHEPPARD PRATT HEALTH SYSTEM
    6501 N CHARLES STREET
    BALTIMORE,MD21285     		NONE PUBLIC GENERAL 1,000
    SPECIAL OLYMPICS
    PO BOX 23961
    BALTIMORE,MD21203     		NONE PUBLIC GENERAL 250
    SUSAN COHAN COLON CANCER FOUNDATION
    201 NORTH CHARLES ST SUITE 2404
    BALTIMORE,MD21201     		NONE PUBLIC GENERAL 1,000
    TEACH FOR AMERICA
    2601 N HOWARD ST SUITE 300
    BALTIMORE,MD21218     		NONE PUBLIC GENERAL 5,000
    THE SEED SCHOOL OF MARYLAND
    200 FONT HILL AVE
    BALTIMORE,MD21223     		NONE PUBLIC GENERAL 500
    THE UNIVERSITY OF MARYLAND BALTIMORE FOUNDATION INC
    620 W LEXINGTON ST
    BALTIMORE,MD21201     		NONE PUBLIC UNIV OF MARYLAND SCHOOL OF SOCIAL WORK-SOCIAL WORK COMMUNITY OUTREACH SERVICES 1,000
    THE UNIVERSITY OF MARYLAND BALTIMORE FOUNDATION INC
    620 W LEXINGTON ST
    BALTIMORE,MD21201     		NONE PUBLIC UNIV OF MARYLAND SCHOOL OF SOCIAL WORK-JANE BAUM RODBELL ANNUAL SCHOLARSHIP 5,000
    WALTERS ART MUSEUM
    600 N CHARLES STREET
    BALTIMORE,MD20201     		NONE PUBLIC SHARING THE GIFT: MANAGER OF SCHOOL PROGRAMS 14,000
    WILMER EYE OPHTHALMOLOGICAL INSTITUTE
    727 MAUMENEE BUILDING
    BALTIMORE,MD21287     		NONE PUBLIC DR. DAVID GUYTON'S GIFT FUND 1,000
    CHILDREN'S SCHOLARSHIP FUND BALTIMORE
    1000 ST PAUL PLACE
    BALTIMORE,MD21202     		NONE PUBLIC GENERAL 1,000
    GOUCHER COLLEGE
    1021 DULANEY VALLEY ROAD
    BALTIMORE,MD21204     		NONE PUBLIC GOUCHER PRISON ECUCATION PARTNERSHIP 2,500
    GREATER BALTIMORE CULTURAL ALLIANCE
    1800 N CHARLES STREET SUITE 810
    BALTIMORE,MD21201     		NONE PUBLIC IN HONOR OF LESLIE SHEPARD 500
    TORAH INSTITUTUTE OF BALTIMORE
    35 ROSEWOOD LANE
    OWINGS MILLS,MD21117     		NONE PUBLIC GENERAL 2,520
    VASSAR COLLEGE
    124 RAYMOND AVENUE
    POGHKEEPSIE,NY12604     		NONE PUBLIC GENERAL 250
    Total .................................bullet 3a 255,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 15,139  
    4 Dividends and interest from securities....     14 71,831  
    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.....     01 48  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 288,234  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 375,252 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13375,252
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 1,600 0   0

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Name of Bond End of Year Book Value End of Year Fair Market Value
    0 SHS ALLIANZGI CONVERTIBLE CL D (ANZDX) 0 0
    0 SHS AT&T INC NOTES 05.6 5/15/18 0 0
    19000 SHS AT&T INC SR GLBL NT 3.00000% 2/15/22 FIXED COUPON 19,036 18,613
    0 SHS COLUMBIA CONVERTIBLE SECURITIES FD A (PACIX) 0 0
    18000 SHS CONTINENTAL RESOURCES INC 4.50000% 4/15/23 FIXED COUPON 18,398 17,121
    0 SHS FEDERAL HOME LN MTG CORP 2.87500% 2/09/2015 0 0
    0 SHS FEDERAL HOME LN MTG CORP 1.75000% 9/10/2015 0 0
    43000 SHS FEDERAL HOME LN MTG CORP 0.87500% 10/14/16 FIXED COUPON 43,182 43,160
    50000 SHS FEDERAL HOME LN MTG CORP 1.00000% 6/29/17 FIXED COUPON 50,271 50,099
    0 SHS FEDERAL NATIONAL MTG ASSN 2.625% 11/20/14 0 0
    51000 SHS FEDERAL NATL MTG ASSN 0.37500% 12/21/15 FIXED COUPON 51,065 51,012
    20000 SHS FREEPORT-MCMORAN INC SR NT 3.10000% 3/15/20 FIXED COUPON 19,798 19,455
    0 SHS FIDELITY ADVISOR CONVERTIBLE SEC CL 1 (FICVX) 0 0
    17000 SHS GENERAL ELEC CAP CORP MTN BE 5.40000% 2/15/17 FIXED COUPON 17,546 18,456
    17000 SHS GOLDMAN SACHS GROUP INC NOTE 6.15000% 4/01/18 FIXED COUPON 18,096 19,081
    19000 SHS JPMORGAN CHASE & CO SR NT 1.62500% 5/15/18 FIXED COUPON 18,475 18,791
    23 SHS LIBERTY BROADBAND CORP PUR COM SER C RTS EXP 1/09/15 0 219
    19000 SHS MONSANTO CO NEW SR BLBL NT 3.37500% 7/15/24 FIXED COUPON 19,067 19,305
    6633.727 SHS PIA BBB BOND FUND(PBBBX) 64,390 62,755
    1918.702 SHS PIA MBS BOND FUND(PMTGX) 19,065 18,803
    9513.176 SHS SANDALWOOD OPPORTUNITY CL 1 (SANIX) 101,459 97,415
    18000 SHS TARGET CORP SR NT 3.87500% 7/15/20 FIXED COUPON 19,607 19,390
    0 SHS THERMO FISHER SCIENTIFIC INC BOND 3.6% 8/15/21 0 0
    0 SHS UNITED TECHNOLOGIES CORP 3.10% 6/01/22 0 0
    19000 SHS VERIZON COMMUNICATIONS INC 2.00000% 11/01/16 FIXED COUPON 19,094 19,279
    17000 SHS WACHOVIA CORP GLOBAL MTN 5.75000% 2/01/18 FIXED COUPON 18,661 19,036
    385 SHSWEYERHAEUSER CO COM (WY) 7,122 13,818

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Name of Stock End of Year Book Value End of Year Fair Market Value
    0 SHS ABB LTD 0 0
    0 SHS ABBVIE INC COM 0 0
    47 SHS ACTAVIS PLC USD0.0001 (ACT) 12,516 12,098
    142 SHS ADVENT SOFTWARE INC COM (ADVS) 3,253 4,351
    390 SHS ADT CORPORATION/THE COM 11,811 14,130
    211 SHS AGCO CORP (AGCO) 11,392 9,537
    0 SHS AGILENT TECH INC (A) 0 0
    430 SHS AIA GROUP LTD SPONSORED ADR (AAGIY) 9,949 9,571
    131 SHS ALBEMARLE CORP (ALB) 7,797 7,877
    147 SHS ALEXANDER & BALDWIN INC COM (ALEX) 3,891 5,771
    51 SHS ALLIANT TECHSYSTEMS INC (ATK) 6,600 5,929
    200 SHS AMC NETWORKS INC CL A 1,748 12,754
    380 SHS AMERICAN CAP AGY CORP COM (AGNC) 8,699 8,295
    182 SHS AMERICAN EAGLE OUTFITTERS NEW COM (AEO) 2,360 2,526
    600 SHS AMERICAN EXPRESS CO 3,449 55,824
    137 SHS AMERICAN EXPRESS CO (AXP) 12,460 12,718
    800 SHS AMETEK INC NEW COM 1,737 42,104
    115 SHS ANTHEM INC COM (FORMERLY WELLPOINT INC) (ANTM) 7,082 14,452
    180 SHS APPLE INC (AAPL) 13,427 19,868
    107 SHS APPLE INC (AAPL) 12,362 11,804
    500 SHS ARCHER DANIELS MIDLAND 5,662 26,000
    200 SHS ASCENT CAPITAL GROUP INC 4,759 10,586
    510 SHS ASSURED GUARANTY LTD COM USD0.01 (AGO) 11,823 13,255
    160 SHS ASML HOLDING NV EURO.09 NY REG 2012 (ASML) 1,953 17,253
    183 SHS ATWOOD OCEANICS INC COM (ATW) 7,236 5,192
    0 SHS AVON PRODCUTS INC (AVP) 0 0
    60 SHS BAIDU INC SPON ADR REP A (BIDU) 14,543 13,678
    1150 SHS BANCO BILBAO VIZCAYA ARGENTARI SPONSORED ARD (BBVA) 14,488 10,799
    500 SHS BANK OF NEW YORK MELLON CORP 17,635 20,285
    135 SHS BAXTER INTL INC (BAX) 6,622 9,894
    110 SHS BAYER AG SPON ADR-EACH REPR 1 ORD NPV (BAYRY) 15,630 15,041
    340 SHS BB&T CORP (BBT) 8,009 13,223
    35 SHS BLACKROCK INC (BLK) 12,451 12,515
    500 SHS BOULDER BRANDS INC COM 2,872 5,530
    300 SHS BRINKS CO COM 7,936 7,323
    159 SHS CABELAS INC (CAB) 5,582 8,381
    1500 SHS CABLEVISION SYS NY GROUP A 8,657 30,960
    275 SHS CARNIVAL CORP PAIRED CTF 8,856 12,466
    115 SHS CATERPILLAR INC (CAT) 3,918 10,526
    500 SHS CBS CORP CLASS A 5,964 28,110
    228 SHS CBS CORP NEW CL B (CBS) 12,393 12,588
    201 SHS CELANESE CORP DEL COM SER A (CE) 12,334 11,992
    165 SHS CHECK POINT SOFTWARE TECHNOLOGIES (CHKP) 8,659 12,964
    1000 SHS CHEMTURA CORP COM NEW 24,929 24,730
    560 SHS CHESAPEAKE ENERGY CORPORATION OKLAHOMA (CHK) 9,090 10,959
    0 SHS CHEVRON CORP NEW 0 0
    100 SHS CIGNA CORPORATION COM (CI) 9,064 10,291
    490 SHS CISCO SYS INC COM (CSCO) 9,422 13,629
    395 SHS COACH INC (COH) 13,482 14,836
    175 SHS COLGATE-PAMOLIVE CO (CL) 5,306 12,108
    0 SHS COLUMBIA SPORTSWEAR CO (COLM) 0 0
    150 SHS CONOCOPHILLIPS (COP) 7,666 10,359
    133 SHS CONSTELLATION BRANDS INC CL A (STZ) 12,407 12,892
    500 SHS CORNING INC 5,148 11,465
    700 SHS CORNING INC (GLW) 9,275 16,051
    240 SHS CORRECTIONS CORP AMER NEW COM NEW (CXW) 7,158 8,722
    300 SHS CRANE CO 10,023 17,610
    472 SHS CREDIT SUISSE GROUP SPON ADR-REP 1 ORD (CS) 9,852 11,838
    288 SHS DANA HLDG CORP COM (DAN) 6,986 6,261
    2000 SHS DANONE SPONS ADR 21,404 26,355
    89 SHS DECKERS OUTDOOR CORP COM (DECK) 6,371 8,103
    155 SHS DEERE & COMPANY (DE) 7,325 13,713
    500 SHS DEERE & COMPANY (DE) 17,745 44,235
    271 SHS DELTA AIR LINES INC DEL COM NEW (DAL) 12,401 13,172
    705 SHS DENBURY RES INC DEL COM USD0.001 (DNR) 11,957 5,732
    209 SHS DEVON ENERGY CORP NEW (DVN) 12,354 12,755
    60 SHS DIAGEO ADR EACH REPR 4 ORD (DEO) 3,973 6,845
    500 SHS DIEBOLD INC COM 17,475 17,320
    82 SHS DILLARDS INC CL A (DDS) 8,107 10,265
    600 SHS DIRECTV 9,748 52,020
    300 SHS DISCOVERY COMMS NEW SER A 1,228 10,335
    900 SHS DISCOVERY COMMS NEW SER C 2,854 30,348
    700 SHS DISH NETWORK CORP 8,386 51,023
    170 SHS DISH NETWORK CORP CL A (DISH) 10,210 12,391
    305 SHS DOW CHEMICAL CO (DOW) 7,680 13,911
    200 SHS DR PEPPER SNAPPLE GROUP INC COM 3,256 14,336
    215 SHS DUPONT E I DE NEMOURS & CO (DD) 7,680 15,897
    414 SHS E M C CORP MASS (EMC) 12,410 12,292
    100 SHS EATON CORP PLC COM (ETN) 7,671 6,796
    117 SHS EATON VANCE CORP NON-VOTING (EV) 4,258 4,789
    1000 SHS EL PASO ELEC CO COM NEW 11,320 40,060
    205 SHS EMERSON ELECTRIC CO (EMR) 7,878 12,655
    123 SHS ENDO INTL PLC SHS (ENDP) 8,963 8,871
    300 SHS ENERGIZER HLDGS INC COM 2,882 38,568
    284 SHS ENSCO PLC COM USD0.10 A (ESV) 14,293 8,506
    35 SHS EVEREST RE GROUP LTD COM (RE) 4,453 5,961
    500 SHS EXELIS INC 1,833 8,765
    389 SHS EXELIS INC COM (XLS) 6,968 6,819
    69 SHS FEDEX CORP COM (FDX) 12,413 11,983
    1000 SHS FEDERAL MOGUL CORP CL A 9,446 16,090
    1000 SHS FEDERAL SIGNAL CORP COM 9,120 15,440
    2000 SHS FERROR CORP 9,286 25,920
    470 SHS FIFTH THIRD BANCORP(FITB) 7,524 9,576
    390 SHS FIRST INDL RLTY TR INC (FR) 6,396 8,018
    0 SHS FIRST TR ISE WTR INDEX FD (FIW) 0 0
    675 SHS FLOWERS FOOD INC COM 1,216 12,953
    700 SHS FLOWSERVE CORP COM 4,314 41,881
    795 SHS FORD MTR CO DEL COM (F) 10,367 12,323
    0 SHS FOSTER WHEELER AG ORD CHF3(FWLT) 0 0
    1800 SHS FORTRESS INVT GROUP LLC DEL CL A DELAWARE (FIG) 13,409 14,436
    180 SHS GARMIN LTD COM CHF10.00 (GRMN) 3,386 9,509
    1200 SHS GENCORP INC 8,356 21,960
    445 SHS GENERAL ELECTRIC CO (GE) 5,446 11,245
    124 SHS GILEAD SCIENCES INC (GILD) 12,417 11,686
    23 SHS GOOGLE INC CL C (GOOG) 12,155 12,155
    1000 SHS GRAFTECH INTERNATIONAL 6,483 5,060
    1500 SHS GRIFFON CORP COM 14,216 19,950
    390 SHS HANCOCK HLDG CO COM 13,274 11,973
    225 SHS HARLEY DAVIDSON INC COM (HOG) 2,832 14,830
    303 SHS HARTFORD FINL SVCS GROUP INC (HIG) 12,391 12,506
    150 SHS HCC INS HLDGS INC (HCC) 5,434 8,028
    0 SHS HERBALIFE LTD COM USD0.002 (HLF) 0 0
    425 SHS HEWLETT-PACKARD CO DE (HPQ) 11,050 17,055
    0 SHS HILLSHIRE BRANDS CO 0 0
    140 SHS HOME DEPOT INC COM (HD) 3,675 14,696
    360 SHS HONDA MOTOR LTD AMERN SHS (HMC) 14,857 10,627
    0 SHS HSBC HOLDINGS PLC ADR EACH REPR 5 ORD USD0.50 (HSBC) 0 0
    490 SHS HUNTSMAN CORP (HUN) 5,070 11,162
    650 SHS ICICI BANK LIMITED ADR EACH REPR 2 ORD (IBN) 5,459 7,508
    65 SHS ILLUMINA INC COM (ILMN) 12,466 11,998
    375 SHS INTEL CORP (INTC) 13,085 13,609
    1000 SHS INTERPUBLIC GROUP COS INC 19,724 20,770
    767 SHS ISHARES 1-3 YEAR TREASURY BOND ETF (SHY) 61,168 64,773
    0 SHS ISHARES JP MORGAN USD EMERGING MARKET BOND ETF 0 0
    0 SHS ISHARES TR DOW JONES US BASIC MATERIALS SECTOR INDEX (IYM) 0 0
    0 SHS ISHARES US COMSUMER SERVICES ETF (IYC) 0 0
    0 SHS ISHARES US INDUSTRIALS ETF (IYJ) 0 0
    0 SHS ISHARES INC MSCI FRONTIER 100 ETF (FM) 0 0
    0 SHS ISHARES US TECHNOLOGY ETF (IYW) 0 0
    95 SHS ITT CORPORATION COM USD1.00 (ITT) 0 0
    250 SHS ITT CORP NEW COM NEW 1,636 10,115
    85 SHS INTL BUSINESS MACH (IBM) 13,637 13,637
    400 SHS INVESCO LTD COM STK USD0.20 (IVZ) 8,659 15,808
    1000 SHS JOURNAL COMM INC-A 1,152 11,430
    200 SHS JPMORGAN CHASE & CO (JPM) 7,904 12,516
    564 SHS JUNIPER NETWORKS INC COM (JNPR) 12,402 12,538
    1500 SHS KAMAN CORP COM FORMERLY CLA TO(KAMN) 25,605 60,135
    77 SHS KAMAN CORP COM FORMERLY CLA TO(KAMN) 2,817 3,087
    400 SHS KINNEVIK INVESTMENTS AB SHS B 8,969 13,084
    410 SHS KONINKLIJKE PHILIPS N V NY REG SH NEW (PHG) 15,142 11,890
    0 SHS L3 COMMUNICATIONS HLDGS INC (LLL) 0 0
    700 SHS LAYNE CHRISTENSEN CO COM 12,809 6,678
    127 SHS LEAR CORP NEW COM USD0.01 (LEA) 12,415 12,321
    500 SHS LEGG MASON INC COM 10,318 26,685
    22 SHS LIBERTY BROADBAND CORP COM SER A 138 1,102
    44 SHS LIBERTY BROADBAND CORP SERIES C 265 2,192
    178 SHS LIBERTY BROADBAND CORP COM SER C (LBRDK) 7,309 8,868
    1000 SHS LIBERTY GLOBAL PLC SHS CL A 5,112 50,205
    1000 SHS LIBERTY GLOBAL PLC SHS CL C 4,896 48,310
    204 SHS LIBERTY MEDIA CORPORATION COM USD0.01 (LMCA) 5,587 7,195
    176 SHS LIBERTY MEDIA CORP CLASS C 774 6,165
    88 SHS LIBERTY MEDIA CORP DELAWARE CL A (FORMERLY STARZ) 419 3,104
    288 SHS LIBERTY MEDIA CORP DELAWARE COM SER C (LMCK) 6,503 10,089
    0 SHS LOEWS CORP (L) 0 0
    550 SHS MADISON SQUARE GARDEN COMPANY A 2,923 41,393
    130 SHS MAGNA INTL INC COM (MGA) 5,062 14,130
    96 SHS MALLINCKRODT PLC ORDINARY USD (MNK) 5,931 9,507
    395 SHS MARATHON OIL CORP (MRO) 13,195 11,175
    1000 SHS MARINE PRODS CORP COM 6,879 8,440
    0 SHS MARTIN MARIETTA MATLS INC (MLM) 0 0
    915 SHS MARVELL TECHNOLOGY GROUP LTD (MRVL) 10,842 13,268
    530 SHS MASCO CORP (MAS) 5,936 13,356
    154 SHS MATSON INC COM NPV (MATX) 3,278 5,316
    445 SHS MATTEL INC (MAT) 13,634 13,771
    460 SHS MBIA INC 4,890 4,388
    0 SHS MCDERMOTT INTERNATIONAL INC COM STK USD 1 (MDR) 0 0
    1200 SHS MEDIA GEN INC NEW COM 7,261 20,076
    255 SHS MERCK & CO INC NEW COM (MRK) 9,845 14,481
    0 SHS MICREL INCORPORATED (MCRL) 0 0
    347 SHS MICRON TECHNOLOGY (MU) 12,379 12,121
    325 SHS MICROSOFT CORP (MSFT) 8,362 15,096
    0 SHS MINDRAY MEDICAL INTL LTD SPON ADR EACH REPR 1 ORD SH CL A (MR) 0 0
    2490 SHS MITSUBISHI UFJ FINL GROUP INC SPONSORED ADR (MTU) 16,407 13,770
    400 SHS MODINE MFG CO 3,656 5,440
    380 SHS MONDELEZ INTL INC COM (MDLZ) 9,706 13,804
    150 SHS MONTPELIER RE HOLDINGS COM USD0.01 (MRH) 3,224 5,373
    183 SHS MRC GLOBAL INC COM USD0.01 (MRC) 5,558 2,772
    500 SHS MUELLER INDS INC COM 14,747 17,070
    0 SHS MURPHY OIL CORP (MUR) 0 0
    500 SHS NATIONAL FUEL GAS CO NJ COM 16,490 34,765
    1000 SHS NAVISTAR INTL CORP COM 28,779 33,480
    110 SHS NESTLE SA SPON ADR EACH REPR 1 COM CHF0.10 (NSRGY) 5,246 8,076
    260 SHS NETAPP INC COM (NTAP) 9,225 10,777
    33 SHS NEWMARKET CORP (NEU) 7,652 13,316
    500 SHS NEWS CORP NEW CL A (FORMERLY TWENTY FIRST CENTURY) 237 7,845
    2440 SHS NOMURA HLDGS INC SPONSORED ADR (NMR) 19,351 13,835
    400 SHS NORTHERN TRUST CORP 17,403 26,960
    90 SHS NOVARTIS AG ADR EA REPR 1 CHF0.5(REGD)(NVS) 6,598 8,339
    240 SHS NXP SEMICONDUCTORS N V (NXPI) 14,530 18,336
    213 SHS OLD DOMINION FGHT LINES INC COM (ODFL) 7,172 16,537
    306 SHS OLIN CORP NEW (OLIN) 8,698 6,968
    160 SHS ORBITAL SCIENCES CORP (ORB) 4,645 4,302
    160 SHS PALL CORP (PLL) 4,203 16,194
    140 SHS PARTNERRE COM USD1 (PRE) 9,726 15,978
    200 SHS PATTERSON COMPANIES INC 6,657 9,620
    295 SHS PAYCHEX INC COM 8,398 13,620
    205 SHS PENTAIR PLC COM USD0.01 (PNR) 9,526 13,616
    1000 SHS PEP BOYS MANNY MOE & JACK 9,193 9,820
    385 SHS PFIZER INC (PFE) 8,358 11,993
    0 SHS POTASH CORP OF SASKATCHEWAN COM NPV (POT) 0 0
    52 SHS PRECISION CASTPARTS CORP (PCP) 12,517 12,526
    96 SHS PRICESMART INC (PSMT) 5,300 8,757
    150 SHS PROCTOR & GAMBLE CO (PG) 8,496 13,664
    230 SHS PROLOGIS INC COM(PLD)-OTHER 3% 4,381 9,897
    1000 SHS PROTECTIVE LIFE CORP COM 69,500 69,650
    101 SHS PVH CORP COM (PVH) 12,288 12,605
    0 SHS QEP RESOURCES INC COM (QEP) 0 0
    510 SHS QIAGEN NV COM EURO.01 (QGEN) 11,483 11,965
    440 SHS REDWOOD TRUST INC (RWT) 7,244 8,668
    1020 SHS REGIONS FINL CORP (RF) 7,596 10,771
    0 SHS REPSOL YPF ADR-EA DNV INTO 1 ORD(BNY)(REPYY) 0 0
    1400 SHS REPUBLIC SVCS INC CL A 14,791 56,350
    109 SHS RITCHIE BROS AUCTIONEERS COM (RBA) 2,444 2,931
    510 SHS ROCHE HOLDINGS AF SPN ADR EACH REP 0.125 GENUS (RHHBY) 10,345 17,316
    700 SHS ROGERS COMMUNICATIONS CL B 9,034 27,202
    2200 SHS ROLLINS INC 3,943 72,820
    8000 SHS ROLLS-ROYCE GROUP PLC 60,822 108,400
    1131 SHS RYMAN HOSPITALITY PPTYS INC COM 19,130 59,649
    257 SHS SABMILLER PLC ADR EACH REP 1 ORD USD0.10 LEVEL 1 (BNY) (SBMRY) 5,369 13,469
    0 SHS SAFEWAY INC NEW 0 0
    120 SHS SANDS CHINA LTD UNSP ADR EA REPR 10 SHS (SCHYY) 8,789 5,903
    0 SHS SAP AG SPON ARD EACH REP 1 ORD NPV (SAP) 0 0
    600 SHS SCRIPPS NETWORKS INTERAC 17,924 45,162
    0 SHS SECTOR SPDR TR SHS BEN INT ENERGY (XLE) 0 0
    0 SHS SECTOR SPDR TR SHS BEN INT FINANCIAL (XLF) 0 0
    0 SHS SPDR INDEX SHS FDS S&P WORLD EX US ETF (GWL) 0 0
    0 SHS SELECT SECTOR SPDR TR HEALTH CARE FORMERLY CONSUMER SVCS (XLV) 0 0
    0 SHS SECTOR SPDR TR SHS BEN INT CONSUMER STAPLES (XLP) 0 0
    300 SHS SENSIENT TECHNOLOGIES CORP 6,391 18,102
    515 SHS SERVICE CORP INTL (SCI) 7,614 11,691
    80 SHS SHIRE ADR EACH REPR 3 ORD (SHPG) 8,804 17,003
    400 SHS SJW CORP COM 5,666 12,848
    1130 SHS STAPLES INC (SPLS) 15,941 20,476
    200 SHS STATE STREET CORP 13,441 15,700
    96 SHS STURM RUGER & CO INC (RGR) 5,189 3,324
    560 SHS SYMANTEC CORP (SYMC) 12,455 14,367
    470 SHS SYMANTEC CORP (SYMC) 9,822 12,058
    105 SHS TEJON RANCH CO COM (TRC) 2,966 3,093
    19 SHS TEJON RANCH CO WTS EXP 08/31/2016 (TRCWS) 71 34
    1087 SHS TELEPHONE & DATA SYSTEMS 4,963 27,447
    150 SHS TEMPUR SEALY INTL INC COM (TPX) 7,029 8,237
    965 SHS TENCENT HLDGS LIMITED UNSP ADR EACH REP 1 ORD (TCEHY) 4,640 13,999
    194 SHS TENET HEALTHCARE CORP COM NEW (THC) 6,083 9,830
    430 SHS TESSERA TECHNOLOGIES INC COM (TSRA) 8,164 15,377
    155 SHS TIFFANY & CO NEW COM (TIF) 8,683 16,563
    1000 SHS TIME WARNER INC COM 27,659 85,420
    120 SHS TOYOTA MOTOR CORP SPADR REP2COM 13,585 15,058
    0 SHS TRANSOCEAN LIMITED COM 0 0
    154 SHS TREDEGAR CORP (TG) 2,466 3,463
    1000 SHS TREDEGAR INDS INC 12,848 22,490
    140 SHS TUPPERWARE BRANDS CORP (TUP) 2,412 8,820
    2000 SHS TWENTY FIRST CENTURY FOX A 1,788 76,810
    140 SHS UNION PACIFIC CORP (UNP) 2,749 16,678
    125 SHS UNITED PARCEL SVC INC CL B (UPS) 7,477 13,896
    800 SHS UNITED STATES CELLULAR CORP 24,556 31,864
    0 SHS UNITED THERAPEUTICS CORP DEL (UTHR) 0 0
    58 SHS VALMONT INDS INC (VMI) 8,555 7,366
    0 SHS VALUECLICK INC (VCLK) NAME CHANGED TO: CONVERSANT INC 2/5/14 0 0
    0 SHS VARIAN MEDICAL SYS INC (VAR) 0 0
    27 SHS VECTRUS INC 127 740
    1300 SHS VIACOM INC NEW CL A 24,421 98,150
    119 SHS VISTEON CORP COM NEW (VC) 8,796 12,716
    516 SHS VIVENDI SA ORD 5,565 12,926
    1000 SHS WEATHERFORD INTERNATIONAL PLC 15,098 11,450
    85 SHS WESTERN DIGITAL CORP DEL (WDC) 5,017 9,410
    700 SHS WESTERN UNION CO COM (WU) 11,353 12,537
    9 SHS WHITE MOUNTAINS INSURANCE GROUP COM USD1 (WTM) 4,448 5,671
    69 SHS WORLD FUEL SERVICES CORP (INT) 2,933 3,238
    75 SHS WYNN RESORTS LTD (WYNN) 8,002 11,157
    500 SHS XYLEM, INC. 4,582 19,035
    800 SHS ZEP, INC 10,169 12,120
    316 SHS ZION BANCORP (ZION) 7,666 9,009

    TY 2014 InvestmentsGovtObligationsSch
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    US Government Securities - End of Year Book Value:

    199,030
    US Government Securities - End of Year Fair Market Value:

    201,806
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2014 InvestmentsOtherSchedule2
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    0 SHS CS FLOATING RATE HIGH INC SNSTL SHS (CSHIX) AT COST 0 0
    0 SHS HIGHLAND FLOATING RATE OPP CLASS Z (HFRZX) AT COST 0 0
    0 SHS ISHARES GOLD TRUST US4642851053 SEDOL BOSF3S5(IAU) AT COST 0 0
    MOUNT YALE PRIVATE EQUITY OFFSHORE FUND AT COST 440,000 682,797

    TY 2014 OtherExpensesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 276 276   0


    TY 2014 OtherIncomeSchedule2
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME FROM PASSTHROUGH ENTITIES 48 48 48


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 71,556 71,556   0


    TY 2014 TaxesSchedule
    Name:
    JACOB S SHAPIRO FOUNDATION
    EIN: 52-6072215
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 2,481 2,481   0