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
MCFARLAN CHARITABLE CORPORATION
 

Number and street (or P.O. box number if mail is not delivered to street address)700 E KEARSLEY   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FLINT, MI48503
A Employer identification number

38-1390531
B Telephone number (see instructions)

(810) 235-3077
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$25,207,280J 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      
4 Dividends and interest from securities...... 508,610 508,610 508,610
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 1,843,186
b Gross sales price for all assets on line 6a 6,816,109
7 Capital gain net income (from Part IV, line 2)... 2,202
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 1,844,430 29,605 1,844,430
12 Total. Add lines 1 through 11........ 4,196,226 540,417 2,353,040
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 511,513     437,169
15 Pension plans, employee benefits....... 122,786     122,786
16a Legal fees (attach schedule)......... Click to see attachment 4,619     3,119
b Accounting fees (attach schedule)....... Click to see attachment 4,000      
c Other professional fees (attach schedule).... Click to see attachment 586,551 148,746 148,746 437,805
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 42,233 1,838   40,395
19 Depreciation (attach schedule) and depletion... Click to see attachment 312,526    
20 Occupancy.............. 454,761     454,761
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 627,424     613,388
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,666,413 150,584 148,746 2,109,423
25 Contributions, gifts, grants paid........ 182,812 182,812
26 Total expenses and disbursements. Add lines 24 and 25 2,849,225 150,584 148,746 2,292,235
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,347,001
b Net investment income (if negative, enter -0-) 389,833
c Adjusted net income (if negative, enter -0-)... 2,204,294
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............... 86,558 123,346 123,346
2 Savings and temporary cash investments.......... 473,144 357,230 357,230
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   331,298    
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)........ 8,846,615 Click to see attachment8,583,573 13,621,543
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 9,292,969 Click to see attachment10,242,907 10,479,622
14 Land, buildings, and equipment: basis bullet9,766,917
Less: accumulated depreciation (attach schedule) bullet3,165,744 5,688,742 Click to see attachment6,601,173  
15 Other assets (describe bullet) Click to see attachment466,361 Click to see attachment625,539 Click to see attachment625,539
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,185,687 26,533,768 25,207,280
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment255,723 Click to see attachment256,803
23 Total liabilities (add lines 17 through 22).......... 255,723 256,803
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......... 15,407,249 15,407,249
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 9,522,715 10,869,716
30 Total net assets or fund balances (see instructions)...... 24,929,964 26,276,965
31 Total liabilities and net assets/fund balances (see instructions).. 25,185,687 26,533,768
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 24,929,964
2 Enter amount from Part I, line 27a..................... 2 1,347,001
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 26,276,965
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 26,276,965
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.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,202
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      
2012      
2011      
2010      
2009      
2 Total of line 1, column (d) ...................... 2  
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  
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4  
5 Multiply line 4 by line 3....................... 5  
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7  
8 Enter qualifying distributions from Part XII, line 4.............. 8  
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: 1986-12-18(attach copy of letter if necessary–see instructions)
b 1 N/A
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3  
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  
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a  
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 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 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  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMI
    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
    Yes
     
    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 addressbulletN/A
    14
    The books are in care ofbulletMELISSA FREY Telephone no.bullet (513) 632-4234
    Located atbullet700 E KEARSLEY STFLINTMI ZIP+4bullet48503
    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
     
     
    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
     
    No
    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
    ROBERT BESSERT PRESIDENT/DI
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    LOUISE MCARA VICE PRES/DI
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    DAVID MILLHOUSE TREASURER/DI
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    EJ RUNDLES SECRETARY/DI
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    MARY SNELL DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    ELEANOR BROWNELL DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    JOHN MCINTOSH DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    KATHY BOLES DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    JONATHAN HARTMAN DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    MIKE SIWEK DIRECTOR
    0.50     		0 0 0
    700 E KEARSLEY
    FLINT,MI48503
    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
    SHIRLEY FOWLER HOME ADMINIS
    40.00     		74,344    
    700 E KEARSLEY
    FLINT,MI48503
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    FLINT PAYROLL SERVICES PAYROLL PROVIDE 381,208
    5454 GATEWAY CENTRE
    FLINT,MI48507
    PIPER REALTY COMPANY MANAGEMENT COMP 56,052
    5454 GATEWAY CENTRE
    SUITE B
    FLINT,MI48507
    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 OPERATION OF HOMES FOR ELDERLY WOMEN AND SENIORS WITH LOW AND MODERATE INCOME (285 UNITS TOTAL) 2,202,324
    2 GRANTS TO OTHER 501(C)(3) ORGANIZATIONS 182,812
    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 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.)
    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
    23,539,433
    b
    Average of monthly cash balances.......................
    1b
    758,123
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    24,297,556
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    24,297,556
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    364,463
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    23,933,093
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,196,655
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
     
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
     
    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
    2,292,235
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    1,224,957
    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
    3,517,192
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,517,192
    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  
    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.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 3,517,192
    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.....  
    e Remaining amount distributed out of corpus 3,517,192
    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 3,517,192
    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 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		 
    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
    1,196,655 1,189,134 1,066,590 1,014,751 4,467,130
    b 85% of line 2a ......... 1,017,157 1,010,764 906,602 862,538 3,797,061
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		3,517,192 2,584,615 2,397,933 5,387,202 13,886,942
    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 ....     		3,517,192 2,584,615 2,397,933 5,387,202 13,886,942
    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...     		797,770 792,756 711,060 676,501 2,978,087
    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
    VALLEY AREA AGENCY ON AGI
    711 N SAGINAW ST
    SUITE 111
    FLINT,MI48503     		  501(C)(3) GENL OPER 45,000
    COURT STREET VILLAGE
    727 EAST ST
    FLINT,MI48503     		  501(C)(3) GENL OPER 88,012
    WHALEY HISTORICAL HOUSE
    624 E KEARSLEY ST
    FLINT,MI48503     		  501(C)(3) GENL OPER 48,000
    UNIVERSITY OF MICHIGAN - FLINT
    303 E KEARSLEY ST
    FLINT,MI48502     		  501(C)(3) GENL OPER 1,300
    PVM FOUNDATION
    26200 LAHSER RD
    SUITE 300
    SOUTHFIELD,MI48033     		  501(C)(3) GENL OPER 500
    Total .................................bullet 3a 182,812
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		         
    4 Dividends and interest from securities....     14 508,610  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....     14 29,605  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 2,202 1,840,984
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aRENT         1,798,036
    bLAUNDRY         9,331
    cMISCELLANEOUS         7,458
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   540,417 3,655,809
    13Total. Add line 12, columns (b), (d), and (e)..................
    134,196,226
    (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:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 4,000      

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

    TY 2014 DepreciationSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING 1974-06-30 664,376 656,071 S/L 40.0000 8,305      
    ARCHITECT FEES 1975-06-30 2,760 2,725 S/L 39.0000 35      
    ELECTRICAL 1975-06-30 905 894 S/L 39.0000 11      
    SOUTH WING 1976-06-30 68,710 67,806 S/L 38.0000 904      
    SOUTH WING 1977-12-31 8,025 8,025 S/L 37.0000        
    KITCHEN COOLING 1980-12-19 1,066 1,066 S/L 10.0000        
    WINDOW REPLACEMENT 1989-10-02 5,781 5,781 S/L 10.0000        
    EXPANSION 1991-07-01 544,929 306,523 S/L 40.0000 13,623      
    PORCH ENCLOSURE 1990-01-23 3,800 3,800 S/L 10.0000        
    LANDSCAPING 1992-07-27 3,512 3,512 S/L 5.0000        
    29 GFIC 1993-12-24 843 843 S/L 5.0000        
    CHILLED WATER COIL 1993-05-03 5,500 5,500 S/L 10.0000        
    FIRE ALARM/SMOKE DETECTOR 1994-06-30 12,575 12,575 S/L 10.0000        
    REMODEL 2 ROOMS 1994-10-01 2,597 2,597 S/L 10.0000        
    SANITARY DRAIN 1994-12-14 2,232 2,232 S/L 10.0000        
    WROUGHT IRON RAIL 1994-07-26 675 675 S/L 10.0000        
    REMODEL 2 ROOMS 1995-04-11 11,029 11,029 S/L 10.0000        
    REMODEL SUITE 207 1995-10-30 9,146 9,146 S/L 10.0000        
    BASEMENT PARTITION 1995-06-27 928 928 S/L 10.0000        
    PORCH ENCLOSURE 1995-11-27 1,500 1,500 S/L 10.0000        
    PORCH ENCLOSURE 1996-01-08 3,960 3,960 S/L 10.0000        
    REMODELING 4 ROOMS T SUITES 1996-07-17 18,756 18,756 S/L 10.0000        
    LANDSCAPING 1996-08-20 3,930 3,930 S/L 5.0000        
    ROOM 219 REMODELING 1997-10-20 11,229 11,229 S/L 10.0000        
    HANDRAIL 1998-01-05 570 570 S/L 10.0000        
    KITCHEN EXHAUST SYSTEM 1998-05-04 4,200 4,200 S/L 10.0000        
    AIR CONDITIONING UNIT 1998-06-29 2,950 2,950 S/L 10.0000        
    3 CEILING FANS 1998-08-03 1,025 1,025 S/L 10.0000        
    STAIRTREADS 1998-10-05 1,714 1,714 S/L 7.0000        
    LIGHT FIXTURES 1998-11-16 3,339 3,339 S/L 10.0000        
    REMODEL KITCHEN CABINET 1998-12-22 5,119 5,119 S/L 10.0000        
    CONVERT SUITES 202 7 204 1998-12-22 11,941 11,941 S/L 10.0000        
    NEW ROOF OVER BOILER ROOM 1998-12-30 1,850 1,850 S/L 10.0000        
    CIRCUITS 1998-12-30 2,000 2,000 S/L 10.0000        
    HUMIDIFICATION SYSTEM 1999-01-11 11,687 11,687 S/L 10.0000        
    CONVERT SUITES 100 & 102 1999-12-13 13,256 13,256 S/L 10.0000        
    CONVERT SUTIES 103 & 105 1999-12-13 12,469 12,469 S/L 10.0000        
    ELEVATOR MODERATIONS 1999-07-20 9,985 9,985 S/L 10.0000        
    CARPET 2000-03-24 468 468 S/L 7.0000        
    SLIPCOVERS 2000-03-28 2,700 2,700 S/L 5.0000        
    CARPET 2000-04-25 706 706 S/L 7.0000        
    LIMESTONE BASE 2000-06-05 2,190 2,190 S/L 7.0000        
    REMODEL ROOMS 215 & 217 2000-06-05 12,584 12,584 S/L 10.0000        
    LIMESTONE BASE 2000-06-12 864 864 S/L 7.0000        
    ARCHITECT FEES 1999-12-13 2,072 2,072 S/L 10.0000        
    PARK WHITING-ADDITIONS 2001-04-18 8,500 2,761 S/L 39.0000 218      
    RANDOLPH PIPER-ADDITION 2001-04-23 500 162 S/L 39.0000 13      
    GOULD ENGINEERING-ADDITION 2001-06-18 7,000 2,244 S/L 39.0000 179      
    PARK WHITING-ADDITIONS 2001-07-18 56,626 18,028 S/L 39.0000 1,452      
    PARK WHITING-ADDITIONS 2001-08-22 20,935 6,620 S/L 39.0000 537      
    STATE OF MICHIGAN-ADDITIONS 2001-08-28 10,950 3,463 S/L 39.0000 281      
    PARK WHITING-ADDITIONS 2001-10-30 21,222 6,620 S/L 39.0000 545      
    PARK WHITING-ADDITIONS 2001-10-31 20,308 6,335 S/L 39.0000 521      
    PARK WHITING-ADDITIONS 2001-12-05 18,000 5,577 S/L 39.0000 461      
    PARK WHITING-ADDITIONS 2001-12-11 82,860 25,672 S/L 39.0000 2,125      
    PARK WHITING-ADDITIONS 2002-01-14 126,740 38,997 S/L 39.0000 3,250      
    PARK WHITING-ADDITIONS 2002-02-08 77,433 23,660 S/L 39.0000 1,985      
    PARK WHITING-ADDITIONS 2002-03-05 95,480 28,970 S/L 39.0000 2,449      
    PARK WHITING-ADDITIONS 2002-04-04 108,416 32,664 S/L 39.0000 2,779      
    PARK WHITING-ADDITIONS 2002-05-10 103,718 31,027 S/L 39.0000 2,659      
    PARK WHITING-ADDITIONS 2002-06-06 211,435 62,798 S/L 39.0000 5,421      
    PARK WHITING-ADDITIONS 2002-07-11 319,646 94,255 S/L 39.0000 8,196      
    PARK WHITING-ADDITIONS 2002-08-08 218,353 63,919 S/L 39.0000 5,599      
    PARK WHITING-ADDITIONS 2002-10-02 76,239 21,992 S/L 39.0000 1,955      
    PERMITS-ADDITIONS 2002-10-08 13,688 3,948 S/L 39.0000 351      
    PARK WHITING-ADDITIONS 2002-11-18 102,062 29,005 S/L 39.0000 2,617      
    PARK WHITING-ADDITIONS 2002-12-09 66,337 18,852 S/L 39.0000 1,701      
    PROPERTY PURCHASE DEPOSIT 2002-12-31 2,000 564 S/L 39.0000 51      
    PARK WHITING-ADDITIONS 2002-09-05 233,180 67,762 S/L 39.0000 5,979      
    REMODEL BATHROOM 2002-05-13 7,850 7,850 S/L 10.0000        
    BUILDING 2003-02-01 134,044 37,521 S/L 39.0000 3,437      
    ROOF REPLACEMENT 2003-11-05 19,030 19,030 S/L 10.0000        
    CARPET 2004-05-17 2,447 2,447 S/L 7.0000        
    ALARM SOUNDERS 2004-06-01 1,489 1,489 S/L 5.0000        
    DRIVEWAY REBUILD 2004-09-13 5,750 5,750 S/L 5.0000        
    FENCING 2005-09-06 7,167 3,982 S/L 15.0000 477      
    FENCE-THOMPSON ST 2005-11-15 1,905 1,037 S/L 15.0000 127      
    SHOWER REPAIR 1992-05-01 2,230 2,230 S/L 7.0000        
    CARPET 1ST FLOOR 1997-11-06 4,085 4,085 S/L 7.0000        
    STOVE 1997-12-09 3,410 3,410 S/L 5.0000        
    4 42" ROUND TABLES 1990-06-05 3,134 3,134 S/L 5.0000        
    FURNITURE 1991-07-01 11,901 11,901 S/L 5.0000        
    PAINTING BASEMENT 1992-02-03 875 875 S/L 7.0000        
    GARBAGE DISPOSAL 1992-05-01 960 960 S/L 5.0000        
    MATTRESS/SPRINGS 1992-07-18 897 897 S/L 5.0000        
    TABLE & CHAIRS 1992-07-14 492 492 S/L 5.0000        
    STORAGE LOCKERS 1992-07-28 1,971 1,971 S/L 5.0000        
    LOCKERS 1995-01-24 598 598 S/L 7.0000        
    TIME CLOCK 1995-03-02 540 540 S/L 5.0000        
    TRACK LIGHTING 1995-04-11 688 688 S/L 7.0000        
    2 REFRIGERATORS 1995-10-30 594 594 S/L 5.0000        
    CABINETRY 1995-04-11 2,671 2,671 S/L 7.0000        
    LIGHT FIXTURES 1996-01-20 2,583 2,583 S/L 7.0000        
    CARPET 2ND FLOOR 1997-01-07 1,040 1,040 S/L 7.0000        
    PORCH FURNITURES 1997-07-10 2,520 2,520 S/L 5.0000        
    COMPUTER DESK 1997-08-11 422 422 S/L 5.0000        
    TV SET 1998-01-05 1,295 1,295 S/L 5.0000        
    CARPETING LOUNGE 1998-05-11 304 304 S/L 7.0000        
    COMPUTER PRINTER 1998-06-15 300 300 S/L 5.0000        
    FREEZER 1998-05-06 3,662 3,662 S/L 5.0000        
    6 LOUNGE CHAIRS 1998-06-16 482 482 S/L 5.0000        
    PANELS FOR BASEMENT 1998-07-06 442 442 S/L 5.0000        
    NEW FURNITURE 1998-12-04 20,000 20,000 S/L 5.0000        
    KITCHEN TILE 1998-11-10 950 950 S/L 7.0000        
    CARPETING 204 1998-11-24 660 660 S/L 7.0000        
    FREEZER 1998-12-15 3,014 3,014 S/L 5.0000        
    CARPET 1999-01-14 380 380 S/L 7.0000        
    DINING ROOM CHAIRS 1999-02-15 9,452 9,452 S/L 5.0000        
    2 LOVE SEATS, 1 SOFA, 2 LAMPS 1999-03-09 6,691 6,691 S/L 5.0000        
    CARPET 1999-03-24 835 835 S/L 7.0000        
    CHAIR PILLOWS 1999-03-29 225 225 S/L 5.0000        
    4 MATTRESS/SPRINGS 1999-05-20 1,245 1,245 S/L 5.0000        
    CARPET 1999-11-22 1,363 1,363 S/L 7.0000        
    CARPET SCUBBER 2000-12-04 1,599 1,599 S/L 5.0000        
    BARBARA KOEGEL INT.-FURNITURE 2001-10-11 25,000 25,000 S/L 5.0000        
    FURNITURE AT WHALEY 2001-12-31 1 1 S/L 1.0000        
    11 PASSENGER BUS 2002-02-11 36,796 36,796 S/L 5.0000        
    TELEPHONE SYSTEM 2002-12-05 27,801 27,801 S/L 5.0000        
    BARBARA KOEGEL-FURNITURE 2002-09-18 45,705 45,705 S/L 5.0000        
    SATELLITE SYSTEM 2002-05-14 22,000 22,000 S/L 5.0000        
    MAILBOXES 2002-06-17 935 935 S/L 5.0000        
    REFRIGERATORS 2002-09-18 1,791 1,791 S/L 5.0000        
    SECURITY SYSTEM 2002-10-03 27,697 27,697 S/L 5.0000        
    FURNITURE 2003-01-14 31,106 31,106 S/L 5.0000        
    EXERCISE 2003-06-09 355 355 S/L 5.0000        
    TABLES AND CHAIRS 2003-11-10 1,689 1,689 S/L 5.0000        
    FLAG POLE 2003-12-10 835 835 S/L 5.0000        
    SNOW THROWER 2004-01-14 699 699 S/L 5.0000        
    TABLE AND CHAIRS 2004-02-11 1,800 1,800 S/L 5.0000        
    CREDENZA 2004-02-11 750 750 S/L 5.0000        
    LAWN MOWER 2004-04-28 377 377 S/L 5.0000        
    CREDENZA 2004-06-24 785 785 S/L 5.0000        
    CHAIRS 2004-05-10 280 280 S/L 5.0000        
    DIRECT TV 2004-07-19 7,702 7,702 S/L 5.0000        
    REFRIGERATORS 2004-08-09 2,800 2,800 S/L 5.0000        
    DIRECT TV 2004-08-16 979 979 S/L 5.0000        
    CURBING 2004-10-08 1,042 1,042 S/L 5.0000        
    COPY MACHINE 2004-11-17 3,395 3,395 S/L 3.0000        
    12 CHANNEL DIGITAL SYSTEM 2005-01-24 4,000 4,000 S/L 5.0000        
    CHAIN SAW 2005-02-07 59 59 S/L 3.0000        
    GENERATOR 2005-03-09 75,802 66,958 S/L 10.0000 7,581      
    BIRD AVIARY 2005-05-09 5,159 5,159 S/L 5.0000        
    AIR CONDITIONING UNIT 2005-05-11 1,009 1,009 S/L 5.0000        
    6 REFRIGERATOR 2005-08-15 1,194 1,194 S/L 5.0000        
    3 BATTERY BACK UP UNITS 2005-08-29 378 378 S/L 3.0000        
    GENERATOR 2006-06-05 4,114 3,120 S/L 10.0000 411      
    REPAIR SIDEWALK 2006-06-19 500 375 S/L 10.0000 50      
    COVER FACIA & TECTUM REPAIR 2006-10-16 19,360 13,875 S/L 10.0000 1,936      
    REROUT UNDERGROUND WIRING 2006-11-07 6,551 4,695 S/L 10.0000 655      
    2 PICTURES 1993-07-07 925              
    5 PICTURES 1993-10-07 800              
    LAUNDRY MACHINE 2007-02-26 11,433 11,161 S/L 7.0000 272      
    WATER HEATER 2007-03-26 8,850 8,534 S/L 7.0000 316      
    GAS DRYER 2007-06-11 652 613 S/L 7.0000 39      
    GAZEBO/PLANTERS 2007-06-18 3,876 2,519 S/L 10.0000 388      
    DISHWASHER 2007-09-03 2,995 2,710 S/L 7.0000 285      
    ARMCHAIRS 2008-04-07 1,600 1,493 200DB 7.0000 71      
    LAWN MOWER 2008-05-15 1,258 1,258 S/L 5.0000        
    SECURITY SYSTEM 2008-09-15 13,637 7,273 S/L 10.0000 1,364      
    FENCE 2008-10-15 8,265 2,893 S/L 15.0000 551      
    SIGN - RECEIVED IN TRADE FOR ASSET 154 2008-10-15 4,450 4,450 S/L 5.0000        
    WASHER - RECEIVED IN TRADE FOR ASSET 99 2008-05-12 550 550 S/L 5.0000        
    STORM DRAIN REPAIR 2009-08-17 6,585 2,854 S/L 10.0000 658      
    LANDSCAPING - RECEIVED IN TRADE FOR ASSET 6 2010-11-01 9,300 5,890 S/L 5.0000 1,860      
    TURBO AIR 2 DOOR REFRIDGERATOR (BASEMENT) 2011-08-24 3,145 1,468 S/L 5.0000 629      
    2006 JOHN DEER LX178 RIDING LAWNMOWER 2011-10-17 1,000 433 S/L 5.0000 200      
    LANDSCAPING 2011-06-15 5,827 3,011 S/L 5.0000 1,165      
    BLDG - CSV WEST 2011-02-10 1,226,903 128,267 S/L 27.5000 44,615      
    LAND - CSV WEST 2011-02-10 136,322              
    CARPETING - CSV WEST 2011-12-01 40,710 26,787 200DB 5.0000 5,569      
    BLDG - CSV EAST 2011-02-10 1,642,000 171,664 S/L 27.5000 59,709      
    LAND - CSV EAST 2011-02-10 182,445              
    ROOF REPAIR - CSV EAST 2011-06-22 96,500 17,803 150DB 20.0000 5,902      
    ROOF REPAIR - CSV EAST 2011-10-13 98,607 15,027 150DB 20.0000 6,269      
    2012 CHEVROLET IMPALA 2012-09-12 22,901 6,107 S/L 5.0000 3,050      
    SIGN - DEPOSIT 2012-12-11 3,872 599 S/L 7.0000 553      
    CARPET - LOBBY 2012-07-15 22,000 6,600 S/L 5.0000 4,400      
    PAINT, RAILING, PLUMBING, ETC. 2012-07-15 10,950 2,346 S/L 7.0000 1,565      
    HP LAPTOP 2012-07-01 763 229 S/L 5.0000 153      
    406 THOMPSON STREET - DEMOLISHED 2012-12-26 15,108              
    FURNISHINGS 2012-07-24 40,675 11,525 S/L 5.0000 8,135      
    DECORATING 2012-11-13 11,750 2,742 S/L 5.0000 2,350      
    SIGN 2012-12-11 3,872 599 S/L 7.0000 553      
    CARPET - UNIT 202 2012-04-05 1,430 500 S/L 5.0000 286      
    CARPET - UNIT 246 2012-04-05 771 270 S/L 5.0000 154      
    CARPET - UNIT 328 2012-05-22 1,063 337 S/L 5.0000 212      
    CARPET - UNIT 332 2012-05-22 884 280 S/L 5.0000 177      
    VINYL - UNIT 249 2012-06-14 749 237 S/L 5.0000 150      
    CARPET - UNIT 249 2012-07-11 751 225 S/L 5.0000 151      
    CARPET - UNIT 248 2012-07-11 761 228 S/L 5.0000 153      
    CARPET - UNIT 109 2012-07-11 759 228 S/L 5.0000 151      
    CARPET - UNIT 303 2012-09-07 862 230 S/L 5.0000 172      
    CARPET - UNIT 223 2012-09-28 1,092 273 S/L 5.0000 219      
    CARPET - UNIT 319 & 304 2012-10-12 1,053 263 S/L 5.0000 211      
    CARPET - UNIT 340 2012-10-19 777 181 S/L 5.0000 156      
    CARPET/VINYL - UNIT 121 2012-09-21 1,789 447 S/L 5.0000 358      
    CARPET - UNIT 128 & 337 2012-11-23 977 212 S/L 5.0000 195      
    ELEVATOR REPAIRS 2012-09-01 8,509 756 S/L 15.0000 568      
    LANDSCAPING 2012-08-30 3,725 331 S/L 15.0000 248      
    BOILER REPAIR 2012-12-13 4,679 724 S/L 7.0000 668      
    CARPET - HALLWAY 2012-02-28 15,857 5,814 S/L 5.0000 3,172      
    VINYL - UNIT 116 2012-03-29 1,051 368 S/L 5.0000 210      
    FLOORING - UNIT 333 2012-03-29 1,127 395 S/L 5.0000 225      
    CARPET - UNIT 201 2012-02-17 706 259 S/L 5.0000 141      
    CARPET - UNIT 124 2012-11-26 1,691 366 S/L 5.0000 339      
    LANDSCAPING 2012-08-30 7,455 663 S/L 15.0000 497      
    FURNACES (15) 2012-09-19 126,435 10,536 S/L 15.0000 8,429      
    SIGN 2012-12-11 3,872 599 S/L 7.0000 553      
    REFRIDGERATORS (2) - 613.74 EACH 2012-03-31 1,227 430 S/L 5.0000 245      
    REFRIDGERATORS (2) - 613.74 EACH 2012-03-31 1,227 430 S/L 5.0000 245      
    DISHWASHER 2012-04-02 638 223 S/L 5.0000 128      
    REFRIDGERATORS (2) - 550.14 EACH 2012-06-02 1,100 348 S/L 5.0000 220      
    GE ELECTRIC RANGE 2012-06-02 562 178 S/L 5.0000 112      
    REFRIDGERATOR 2012-06-02 550 174 S/L 5.0000 110      
    VINYL - UNITS 104 & 240 2012-03-31 1,424 498 S/L 5.0000 285      
    CARPET - UNITS 202, 306, 335, & 334 2012-08-24 3,177 847 S/L 5.0000 636      
    FLOORING - UNITS 218, 223, 235 2012-11-14 4,841 1,130 S/L 5.0000 968      
    418 THOMSON - DEMOLISHED 2012-01-01 58,071              
    424 THOMSON - DEMOLISHED 2012-01-01 49,119              
    DELL COMPUTERS/MONITORS (3) 2013-01-30 3,410 625 S/L 5.0000 682      
    2012 ARIENS SNOWBLOWER 2013-01-21 1,362 250 S/L 5.0000 272      
    REDECORATING (FRANCES KATE JAMES) 2013-02-20 4,952 825 S/L 5.0000 991      
    SECURITY SYSTEM 2013-06-20 27,055 2,706 S/L 5.0000 5,411      
    ROOF 2013-04-30 170,000 4,121 S/L 27.5000 6,182      
    SECURITY SYSTEM 2013-08-22 19,592 1,306 S/L 5.0000 3,918      
    UPSTAIRS SITTING ROOM REMODEL 2013-06-24 28,311 944 S/L 15.0000 1,887      
    SOS GE ELEC FS RNG JBS15M 2013-04-29 593 56 S/L 7.0000 85      
    SOS GE ELEC FS RNG JBS15M 2013-05-03 563 54 S/L 7.0000 80      
    CABINETS - UNIT 235 2013-09-20 1,627 27 S/L 15.0000 109      
    2 MADELINE LOVESEATS - RESPA ROOM 2013-11-06 1,078 36 S/L 5.0000 215      
    SIGN - FINAL PAYMENT 2013-02-12 2,535 332 S/L 7.0000 362      
    BUILDING - CSVE MSHDA LIABILITY 2011-02-10 100,000 3,636 S/L 27.5000 3,637      
    BUILDING - CSV WEST MSDHA LIABILITY 2011-02-10 100,000 3,636 S/L 27.5000 3,637      
    FURNACES 2014-07-01 972,000   S/L 27.5000 16,200      
    PARKING LOT LIGHTS 2014-07-01 3,284   S/L 15.0000 109      
    PARKING LOT LIGHTS 2014-07-01 4,536   S/L 15.0000 151      
    BOILER 2014-08-15 71,278   S/L 27.5000 1,080      
    CHILLER 2014-07-15 64,595   S/L 27.5000 1,174      
    KITCHEN ISLAND 2014-07-21 6,885   S/L 27.5000 104      
    STOVE/RANGE (2) 2014-07-15 4,321   S/L 5.0000 432      
    KITCHEN FLOOR REDO (3) 2014-10-08 8,043   S/L 5.0000 402      
    CABINETRY (50% DOWN PMT) 2014-11-18 4,871   S/L 27.5000 15      
    SUMP PUMPS REPLACED (2) 2014-09-17 7,300   S/L 27.5000 66      
    WANDER GUARD 2014-01-31 38,103   S/L 7.0000 4,990      
    DISHWASHER 2014-10-16 3,941   S/L 7.0000 94      
    LAND 2014-09-01 35,800              

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

    TY 2014 GainLossSaleOtherAssetsSch
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    DISHWASHER 2007-09 PURCHASE 2014-10     2,995       2,995
    ACETO CORP 2013-10 PURCHASE 2014-07   113,863 102,053     11,810  
    EXTERRAN HOLDINGS INC. 2013-11 PURCHASE 2014-08   148,553 107,483     41,070  
    INGLES MARKETS INC. 2013-09 PURCHASE 2014-03   59,508 70,394     -10,886  
    SPARTANNASH CO 2013-09 PURCHASE 2014-07   151,301 154,878     -3,577  
    TESCO CORP 2013-11 PURCHASE 2014-03   102,055 100,928     1,127  
    AGCO CORP 2011-08 PURCHASE 2014-07   130,706 93,750     36,956  
    AGCO CORP 2011-09 PURCHASE 2014-07   78,424 64,522     13,902  
    BCE INC 2011-02 PURCHASE 2014-03   172,797 147,224     25,573  
    DELUXE CORP 2011-08 PURCHASE 2014-07   55,913 19,397     36,516  
    FIFTH THIRD BANCORP 2011-10 PURCHASE 2014-10   93,648 59,200     34,448  
    FORD MOTOR COMPANY 2012-12 PURCHASE 2014-10   211,945 172,350     39,595  
    HOLLY FRONTIER CORP 2011-09 PURCHASE 2014-07   92,025 70,904     21,121  
    ISHARES MSCI SWEDEN 2011-01 PURCHASE 2014-10   94,924 90,532     4,392  
    ISHARES SHORT TREASURY BOND 2012-03 PURCHASE 2014-09   275,681 275,468     213  
    ISHARES SHORT TREASURY BOND 2012-04 PURCHASE 2014-09   55,136 55,098     38  
    ISHARES SHORT TREASURY BOND 2012-04 PURCHASE 2014-10   110,268 110,196     72  
    ISHARES MSCI POLAND 2012-12 PURCHASE 2014-03   87,043 83,344     3,699  
    KB HOME 2012-12 PURCHASE 2014-03   190,356 144,711     45,645  
    LEAPFROG ENTERPRISES INC 2012-07 PURCHASE 2014-02   67,726 113,495     -45,769  
    MOODY'S CORP 2011-11 PURCHASE 2014-04   156,601 64,335     92,266  
    NACCO INDUSTRIES INC. 2012-06 PURCHASE 2014-03   104,096 70,797     33,299  
    POLYONE CORP 2011-01 PURCHASE 2014-03   182,652 65,879     116,773  
    SYMANTEC CORP 2012-12 PURCHASE 2014-03   158,429 151,848     6,581  
    TESORO CORP 2011-05 PURCHASE 2014-03   313,676 145,851     167,825  
    WESTERN DIGITAL CORP 2012-07 PURCHASE 2014-07   198,216 63,179     135,037  
    AT&T INC 2010-12 PURCHASE 2014-06   350,293 65,713     284,580  
    FIRSTMERIT CORP 2010-12 PURCHASE 2014-05   134,425 103,196     31,229  
    GOLDMAN SACHS 2010-12 PURCHASE 2014-11   125,000 126,916     -1,916  
    INTL BUSINESS MACHINE CORP 2010-12 PURCHASE 2014-03   278,879 45,833     233,046  
    MERRILL LYNCH 2010-12 PURCHASE 2014-07   275,000 264,942     10,058  
    TARGET CORP 2010-12 PURCHASE 2014-02   240,571 15,010     225,561  
    US TREASURY BOND 2011-01 PURCHASE 2014-10   946,230 741,890     204,340  
    US TREASURY BOND 2013-04 PURCHASE 2014-12   214,734 198,216     16,518  
    US TREASURY BOND 2013-06 PURCHASE 2014-12   322,102 297,324     24,778  
    US TREASURY NOTES 2011-01 PURCHASE 2014-10   50,631 50,063     568  
    VERIZON 2010-12 PURCHASE 2014-05   287,713 88,856     198,857  
    WALGREEN COMPANY 2010-12 PURCHASE 2014-07   182,787 41,343     141,444  
    NON-BUSINESS BAD DEBT - KSC   PURCHASE 2014-01     335,805     -335,805  

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCKS 8,583,573 13,621,543

    TY 2014 InvestmentsOtherSchedule2
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BONDS AT COST 10,242,907 10,479,622

    TY 2014 LandEtcSchedule2
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDINGS, IMPROVEMENTS, EQUIP. ETC 9,278,872 3,165,744 6,113,128  
    LAND AND LAND IMPROVEMENTS 488,045   488,045  


    TY 2014 LegalFeesSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 4,619     3,119


    TY 2014 OtherAssetsSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    REPLACEMENT RESERVE 181,361 258,262 258,262
    PROPERTY TAX ESCROW   82,277 82,277
    INVESTMENT IN COURT STREET SOUTH 285,000 285,000 285,000


    TY 2014 OtherExpensesSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    ADVERTISING 42,173     42,173
    BANK FEES 3,547     3,547
    BUILDING SUPPLIES & MAINTENAN 191,843     191,843
    COMPUTER 6,442     6,442
    COURT STREET SOUTH 2,721      
    CREDIT CHECK FEES 1,863     1,863
    DUES, FEES, & SUBSCRIPTIONS 4,264     4,264
    FOOD & SUPPLIES 43,134     43,134
    INSURANCE - GENERAL 110,926     110,926
    INSURANCE - WORKERS COMP 12,453     12,453
    LONG RANGE PLAN EXPENSES 2,799      
    MAINTENANCE CONTRACTS 96,922     96,922
    MILEAGE/REIMBURSEMENTS 1,267     1,267
    MISCELLANEOUS 26,859     18,343
    MSW EXPENSES 12,203     12,203
    OFFICE SUPPLIES 5,667     5,667
    OUTSIDE SUPPLIES & MAINTENANC 22,682     22,682
    RESIDENT ACTIVITIES 31,565     31,565
    SMALL EQUIPMENT/FURNITURE 3,972     3,972
    THOMPSON ST. EXPENSES 147     147
    TRANSPORTATION 3,975     3,975


    TY 2014 OtherIncomeSchedule2
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    TRUST INCOME 29,605 29,605 29,605
    RENT 1,798,036   1,798,036
    LAUNDRY 9,331   9,331
    MISCELLANEOUS 7,458   7,458


    TY 2014 OtherLiabilitiesSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS 55,723 56,803
    LOAN PAYABLE - MSHDA 200,000 200,000


    TY 2014 OtherNotesLoansRcvblShortSch2
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Name of 501(c)(3) Organization Balance Due
     
          		 


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 148,746 148,746 148,746  
    PAYROLL SERVICES 545     545
    MANAGEMENT FEES - PIPER REALTY 56,052     56,052
    FEES - FLINT PAYROLL SERVICES 381,208     381,208


    TY 2014 TaxesSchedule
    Name:
    MCFARLAN CHARITABLE CORPORATION
    EIN: 38-1390531
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL ESTATE TAXES 40,345     40,345
    LICENSES AND PERMITS 50     50
    FOREIGN TAXES 1,838 1,838