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
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
MARGARET Q LANDENBERGER RESEARCH FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1013 CENTRE ROAD SUITE 101
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WILMINGTON, DE19805
A Employer identification number

65-0350358
B Telephone number (see instructions)

(813) 263-4133
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$18,091,388J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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) 714
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 328,086 328,086  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,941,415
b Gross sales price for all assets on line 6a 4,462,166
7 Capital gain net income (from Part IV, line 2)... 1,941,415
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,270,215 2,269,501  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,910     92,910
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 500 0 0 500
c Other professional fees (attach schedule).... Click to see attachment 44,925 44,925   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 22,608 8,908   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 15,000 0 0 15,000
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 175,943 53,833 0 108,410
25 Contributions, gifts, grants paid....... 903,100 903,100
26 Total expenses and disbursements. Add lines 24 and 25 1,079,043 53,833 0 1,011,510
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,191,172
b Net investment income (if negative, enter -0-) 2,215,668
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 288,610 1,396,659 1,396,659
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
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)....... 9,356,608 Click to see attachment9,439,721 11,280,577
c Investments—corporate bonds (attach schedule)....... 5,557,000 Click to see attachment5,557,000 5,414,152
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
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) 15,202,218 16,393,380 18,091,388
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
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........ 15,202,218 16,393,380
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 15,202,218 16,393,380
31 Total liabilities and net assets/fund balances (see instructions). 15,202,218 16,393,380
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
15,202,218
2
Enter amount from Part I, line 27a .....................
2
1,191,172
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
16,393,390
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
10
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
16,393,380
Form 990-PF (2015)
Form 990-PF (2015)
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 64. ALPHABET INC CL C   2014-06-24 2015-11-16
b 21. ALPHABET INC CL C   2014-06-24 2015-11-17
c 115. ALPHABET INC CL C   2012-03-12 2015-12-15
d 2200. BAXALTA INC COM STK   2010-04-22 2015-09-14
e 700. BAXALTA INC COM STK   2012-06-08 2015-09-14
3275. BAXTER INTL INC   2010-04-22 2015-07-14
700. BAXTER INTL INC   2012-06-08 2015-07-14
2476. BAXTER INTL INC   2010-04-27 2015-08-06
200. CALIFORNIA RESOURCES CORP COM STK   2011-08-16 2015-02-20
1240. CALIFORNIA RESOURCES CORP COM STK   2004-08-24 2015-02-20
336. CHUBB CORP   2007-07-19 2015-07-01
259. CHUBB CORP   2007-07-20 2015-07-02
486. CHUBB CORP   2007-07-20 2015-07-16
644. CHUBB CORP   2007-07-20 2015-07-22
750. CHUBB CORP   2007-09-17 2015-07-31
350. CHUBB CORP   2007-09-17 2015-09-14
75. CHUBB CORP   2008-10-09 2015-11-02
128. CHUBB CORP   2008-10-09 2015-11-03
77. CHUBB CORP   2008-10-09 2015-11-05
81. CHUBB CORP   2008-10-09 2015-11-11
139. CHUBB CORP   2008-10-09 2015-11-17
3850. COMCAST CORP CL A   2007-11-15 2015-07-21
2875. COMCAST CORP CL A   2007-11-15 2015-09-14
400. DENTSPLY INTL INC   2008-11-24 2015-07-21
800. DENTSPLY INTL INC   2008-11-24 2015-09-14
1075. EBAY INC   2009-01-26 2015-09-14
.479 GOOGLE INC CL C   2014-06-24 2015-05-13
200. GOOGLE INC CL C   2014-06-24 2015-07-21
150. GOOGLE INC CL C   2014-06-24 2015-09-14
4050. LIBERTY INTERACTIVE CORP Q-A   2008-01-04 2015-09-14
5900. MICROSOFT CORP   2011-12-27 2015-09-14
1375. MICROSOFT CORP   2008-10-09 2015-09-14
850. MICROSOFT CORP   2008-10-09 2015-12-15
2375. NESTLE S A SPONS ADR   2004-08-24 2015-09-14
1200. NOVARTIS AG - ADR   2005-03-11 2015-07-21
950. NOVARTIS AG - ADR   2005-03-11 2015-09-14
4550. PROGRESSIVE CORP OHIO   2008-04-23 2015-07-21
2100. PROGRESSIVE CORP OHIO   2008-04-23 2015-09-14
299.94 T ROWE PRICE NEW ASIA FUND   2013-05-31 2015-07-09
25161.754 T ROWE PRICE NEW ASIA FUND   2011-12-29 2015-07-09
250. HENRY SCHEIN INC COM STK   2011-10-13 2015-07-21
450. HENRY SCHEIN INC COM STK   2011-10-13 2015-09-14
500. TARGET CORP   2011-08-01 2015-01-07
56. TARGET CORP   2011-08-05 2015-01-13
319. TARGET CORP   2011-08-05 2015-01-15
675. TARGET CORP   2011-08-05 2015-02-04
275. TARGET CORP   2011-08-05 2015-02-18
250. TARGET CORP   2011-08-05 2015-02-23
275. TARGET CORP   2011-08-05 2015-02-25
396. TARGET CORP   2011-08-09 2015-03-04
629. TARGET CORP   2011-08-09 2015-03-05
7700. U S BANCORP   2009-12-21 2015-09-14
150. WAL-MART STORES INC   2006-02-02 2015-01-13
189. WASTE MANAGEMENT INC   2004-08-24 2015-01-21
256. WASTE MANAGEMENT INC   2004-08-24 2015-01-22
305. WASTE MANAGEMENT INC   2004-08-24 2015-01-23
799. WASTE MANAGEMENT INC   2004-08-24 2015-04-08
151. WASTE MANAGEMENT INC   2004-08-24 2015-04-09
675. WASTE MANAGEMENT INC   2004-08-24 2015-09-14
5875. WELLS FARGO & CO   2011-01-24 2015-09-14
2000. ZOETIS INC COM STK   2014-01-22 2015-07-21
1650. ZOETIS INC COM STK   2014-01-24 2015-09-14
CAPITAL GAIN 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 46,311   36,262 10,049
b 15,308   11,898 3,410
c 85,635   39,384 46,251
d 80,542   50,368 30,174
e 25,627   16,286 9,341
123,165   86,656 36,509
26,325   19,112 7,213
103,956   56,471 47,485
1,449   1,430 19
8,981   2,663 6,318
41,151   17,536 23,615
31,731   13,396 18,335
59,292   25,136 34,156
79,139   33,025 46,114
93,750   38,319 55,431
42,211   15,638 26,573
9,733   3,159 6,574
16,594   5,391 11,203
9,968   3,243 6,725
10,486   3,411 7,075
18,025   5,854 12,171
246,760   77,180 169,580
161,083   57,634 103,449
20,801   10,305 10,496
42,668   20,610 22,058
27,853   5,240 22,613
258   271 -13
133,264   113,318 19,946
93,417   84,989 8,428
111,751   51,884 59,867
253,879   164,520 89,359
59,167   32,565 26,602
47,353   20,131 27,222
175,530   55,632 119,898
124,279   59,056 65,223
90,855   46,753 44,102
138,326   81,766 56,560
63,457   37,738 25,719
4,868   5,000 -132
408,375   350,000 58,375
36,877   15,910 20,967
60,780   27,977 32,803
38,254   24,569 13,685
4,295   2,698 1,597
24,574   15,367 9,207
51,243   32,516 18,727
21,148   13,247 7,901
19,187   12,043 7,144
21,160   13,201 7,959
30,891   18,832 12,059
49,107   29,913 19,194
314,869   177,675 137,194
13,585   6,883 6,702
9,971   5,271 4,700
13,510   7,140 6,370
16,080   8,506 7,574
43,677   22,284 21,393
8,263   4,211 4,052
33,609   18,826 14,783
308,947   190,347 118,600
98,172   62,935 35,237
73,735   51,170 22,565
      36,909
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       10,049
b       3,410
c       46,251
d       30,174
e       9,341
      36,509
      7,213
      47,485
      19
      6,318
      23,615
      18,335
      34,156
      46,114
      55,431
      26,573
      6,574
      11,203
      6,725
      7,075
      12,171
      169,580
      103,449
      10,496
      22,058
      22,613
      -13
      19,946
      8,428
      59,867
      89,359
      26,602
      27,222
      119,898
      65,223
      44,102
      56,560
      25,719
      -132
      58,375
      20,967
      32,803
      13,685
      1,597
      9,207
      18,727
      7,901
      7,144
      7,959
      12,059
      19,194
      137,194
      6,702
      4,700
      6,370
      7,574
      21,393
      4,052
      14,783
      118,600
      35,237
      22,565
       
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 1,941,415
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))
2014 888,125 19,521,374 0.045495
2013 785,517 18,440,866 0.042597
2012 645,760 16,293,788 0.039632
2011 802,491 15,461,035 0.051904
2010 654,617 14,402,571 0.045451
2
Total of line 1, column (d) .....................
20.225079
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
0.045016
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
18,698,658
5
Multiply line 4 by line 3......................
5
841,739
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
22,157
7
Add lines 5 and 6........................
7
863,896
8
Enter qualifying distributions from Part XII, line 4.............
8
1,011,510
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 22,157
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 22,157
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 22,157
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 26,773
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 26,773
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 0
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 4,616
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet4,616 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$   (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)
    bulletFL
    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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletBROWN BROTHERS HARRIMAN TRUST CO NA Telephone no.bullet (302) 552-4040

    Located atbullet1013 CENTRE ROAD SUITE 101WILMINGTONDE ZIP+4bullet19805
    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 2015, 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  
    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 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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
     
    No
    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 2015 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 2015.)..................
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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 (2015)
    Form 990-PF (2015)
    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
    BROWN BROTHERS HARRIMAN TR CO OF DE TRUSTEE
    1     		92,910    
    1013 CENTRE ROAD SUITE 101
    WILMINGTON,DE19805
    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
    BRUCE W MOSKOWITZ MD CONSULTANT 3,000
    225 LIST ROAD
    PALM BEACH,FL33480
    STEVEN M ATLSCHULER MD CONSULTANT 3,000
    1932 PANAMA STREET
    PHILADELPHIA,PA19103
    JUSTIN MCARTHUR MD CONSULTANT 3,000
    1708 BOLTON STREET
    BALTIMORE,MD21217
    ALEISTER J SAUNDERS PH D CONSULTANT 3,000
    3245 CHESTNUT STREET
    PHILADELPHIA,PA19104
    LISA M GUAY-WOODFORD MD CONSULTANT 3,000
    11022 KENILWORTH AVENUE
    GARRETT PARK,MD20896
    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  
    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 NONE  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    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
    17,909,103
    b
    Average of monthly cash balances.......................
    1b
    1,074,306
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    18,983,409
    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
    18,983,409
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    284,751
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    18,698,658
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    934,933
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    934,933
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    22,157
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    22,157
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    912,776
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    912,776
    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
    912,776
    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
    1,011,510
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,011,510
    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
    22,157
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    989,353
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 912,776
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 903,009
    b Total for prior years:2013, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 0
    b From 2011...... 0
    c From 2012...... 0
    d From 2013...... 0
    e From 2014...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,011,510
    a Applied to 2014, but not more than line 2a 903,009
    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 2015 distributable amount..... 108,501
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 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 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		804,275
    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 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011.... 0
    b Excess from 2012.... 0
    c Excess from 2013.... 0
    d Excess from 2014.... 0
    e Excess from 2015.... 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    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 (2015)
    Form 990-PF (2015)
    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
    THOMAS JEFFERSON UNIVERSITY
    925 CHESTNUT STREET
    PHILADELPHIA,PA19107     		NONE PC RESEARCH SUPPORT 100,000
    JOHN HOPKINS UNIV SCHOOL OF MED
    600 NORTH WOLFE ST MEYER 6-181
    BALTIMORE,MD21287     		NONE PC RESEARCH SUPPORT 100,000
    DREXEL UNIVERSITY
    OFFICE OF RESEARCH
    PHILADELPHIA,PA191042875     		NONE PC GENERAL SUPPORT 200,000
    FIDELITY CHARITABLE GIFT FUND
    PO BOX 770001
    CINCINNATI,OH452770053     		NONE PC GENERAL SUPPORT 3,100
    MAYO CLINIC
    200 FIRST STREET SW
    ROCHESTER,NM559050001     		NONE PC GENERAL SUPPORT 100,000
    Temple University
    1801 NORTH BROAD STREET
    Philadelphia,PA19122     		NONE PC GENERAL 100,000
    Massachusetts General Hospital
    55 FRUIT STREET
    Boston,MA02114     		NONE PC GENERAL 100,000
    North American Fdn for Univ Manchester
    PO BOX 293
    Littleton,MA01460     		NONE PC GENERAL 100,000
    TRUSTEES OF THE UNIVERSITY OF
    PENNSYLVANIA
    3451 WALNUT STREET
    PHILADELPHIA,PA19104     		NONE PC RESEARCH SUPPORT 100,000
    Total .................................bullet 3a 903,100
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    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....     14 328,086  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 1,941,415  
    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)..   2,269,501  
    13Total. Add line 12, columns (b), (d), and (e)..................
    132,269,501
    (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 (2015)
    Form 990-PF (2015)
    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 organizations?
    Yes
    No
    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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 500     500

    TY 2015 CompensationExplanation
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Person Name Explanation
    BROWN BROTHERS HARRIMAN TR CO OF DE Trustee Fees

    TY 2015 ContractorCompensationExpln
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Contractor Explanation
    BRUCE W MOSKOWITZ MD Consultant Fee
    STEVEN M ATLSCHULER MD Consultant Fee
    JUSTIN MCARTHUR MD Consultant Fee
    ALEISTER J SAUNDERS PH D Consultant Fee
    LISA M GUAY-WOODFORD MD Consultant Fee

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BBH LIMITED DURATION FUND CL I 5,557,000 5,414,152

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AIT GLOBAL EMERG MKTS OPP FD I 1,200,000 1,015,200
    BAXTER INTL INC    
    BBH INTERNATIONAL EQTY FD CL N 944,679 1,090,801
    BED BATH & BEYOND INC 275,400 232,710
    BERKSHIRE HATHAWAY INC CL B 263,890 593,400
    CALIFORNIA RESOURCES CORP    
    CELANESE CORP SERIES A 169,584 262,587
    CHUBB CORP 18,952 59,688
    COMCAST CORP CL A 119,779 337,169
    DENTSPLY INTL INC 11,336 26,774
    DIAGEO PLC-SPONSORED ADR 152,528 294,489
    EBAY INC 5,674 31,987
    EOG RESOURCES INC 173,701 258,384
    GOOGLE INC CL C    
    HENRY SCHEIN INC COM STK 12,288 31,638
    LIBERTY INTERACTIVE A 54,304 127,666
    LONGLEAF PARTNERS SMALL CAP FD 700,000 580,501
    MICROSOFT CORP 88,139 220,533
    NESTLE S A SPONS ADR 68,515 217,679
    NOVARTIS AG - ADR 132,876 232,308
    OCCIDENTAL PETROLEUM CORP 113,331 243,396
    ORACLE CORP 392,835 366,944
    PRAXAIR INC 243,532 235,520
    PROGRESSIVE CORP OHIO 103,331 182,850
    QUALCOMM INC 340,417 284,915
    SCHLUMBERGER LTD 276,162 258,075
    SOUTHWESTERN ENERGY CO 335,715 65,412
    T ROWE PRICE NEW ASIA FUND    
    TARGET CORP    
    U S BANCORP 147,865 281,622
    UNILEVER N V-NY SHARES 143,357 162,450
    WAL-MART STORES INC 69,922 96,548
    WASTE MANAGEMENT INC 43,131 84,111
    WELLS FARGO & CO 205,203 371,007
    ZOETIS INC COM STK 133,705 217,509
    ALPS SERIES TR CLARKSTON 900,000 900,900
    PAYPAL HOLDINGS INC 51,446 119,967
    ALPHABET INC 102,665 269,402
    BAXALTA INC 71,600 138,596
    DISCOVERY COMMUNICATIONS 183,859 174,018
    AKRE FOCUS FUND 1,190,000 1,213,821

    TY 2015 OtherDecreasesSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Description Amount
    ROUNDING OF SALES 10


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MGMT FEES-SUBJECT T 44,743 44,743    
    OTHER NONALLOCABLE EXPENSES - 182 182    


    TY 2015 TaxesSchedule
    Name:
    MARGARET Q LANDENBERGER RESEARCH FOUNDATION
    EIN:
    65-0350358
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL ESTIMATES - PRINCIPAL 13,700 0   0
    FOREIGN TAXES ON QUALIFIED FOR 8,908 8,908   0