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
THE ISABEL FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)111 EAST COURT STREET NO 3D   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FLINT, MI485021649
A Employer identification number

38-2853004
B Telephone number (see instructions)

(810) 767-0136
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$67,650,202J 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 139 139  
4 Dividends and interest from securities...... 1,248,339 1,229,341  
5a Gross rents.............. 60,659 60,659  
b Net rental income or (loss) 3,750
6a Net gain or (loss) from sale of assets not on line 10 3,467,759
b Gross sales price for all assets on line 6a 23,708,528
7 Capital gain net income (from Part IV, line 2)... 3,467,759
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 4,776,896 4,757,898  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 30,000 1,500   28,500
14 Other employee salaries and wages...... 43,540 0   43,540
15 Pension plans, employee benefits....... 12,208 249   11,959
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 156,250 148,000   8,250
c Other professional fees (attach schedule).... Click to see attachment 39,228 30,494   8,734
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 89,153 88,549   5,497
19 Depreciation (attach schedule) and depletion... Click to see attachment 2,795 2,590  
20 Occupancy.............. 553 0   553
21 Travel, conferences, and meetings....... 11,011 299   10,712
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 174,784 169,583   5,201
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 559,522 441,264   122,946
25 Contributions, gifts, grants paid........ 3,074,650 3,074,650
26 Total expenses and disbursements. Add lines 24 and 25 3,634,172 441,264   3,197,596
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,142,724
b Net investment income (if negative, enter -0-) 4,316,634
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 89,080 142,416 142,416
2 Savings and temporary cash investments.......... 394,214 2,708,154 2,708,154
3 Accounts receivable bullet131,219
Less: allowance for doubtful accounts bullet   55,349 131,219 131,219
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........ 30,161,482 Click to see attachment32,557,653 40,290,472
c Investments—corporate bonds (attach schedule)........ 5,066,567 Click to see attachment4,511,378 4,680,687
11 Investments—land, buildings, and equipment: basis bullet101,010
Less: accumulated depreciation (attach schedule) bullet50,121 53,479 Click to see attachment50,889 50,889
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 18,808,652 Click to see attachment14,060,688 17,744,763
14 Land, buildings, and equipment: basis bullet922
Less: accumulated depreciation (attach schedule) bullet820 307 Click to see attachment102 102
15 Other assets (describe bullet) Click to see attachment0 Click to see attachment1,241,129 Click to see attachment1,901,500
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 54,629,130 55,403,628 67,650,202
Liabilities 17 Accounts payable and accrued expenses..........   237,000
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 attachment2,207,979 Click to see attachment1,910,753
23 Total liabilities (add lines 17 through 22).......... 2,207,979 2,147,753
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......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 52,421,151 53,255,875
30 Total net assets or fund balances (see instructions)...... 52,421,151 53,255,875
31 Total liabilities and net assets/fund balances (see instructions).. 54,629,130 55,403,628
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 52,421,151
2 Enter amount from Part I, line 27a..................... 2 1,142,724
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 4,000
4 Add lines 1, 2, and 3.......................... 4 53,567,875
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 312,000
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 53,255,875
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a BFRIX BLACKROCK FLOATING RATE INCOME PORTFOLIO CL 417.95   2014-06-02 2015-04-28
b BFRIX BLACKROCK FLOATING RATE INCOME PORTFOLIO CL 277.376   2014-05-01 2015-04-28
c BFRIX BLACKROCK FLOATING RATE INCOME PORTFOLIO CL 8947.876   2014-04-10 2015-04-28
d VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1007.424   2014-06-30 2015-05-20
e VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1045.089   2014-05-30 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1054.688   2014-08-29 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1076.868   2014-10-31 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 980.277   2015-02-27 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1059.465   2014-07-31 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1040.585   2014-11-28 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1136.891   2014-04-30 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 2354.086   2013-10-31 2015-05-20
VWEAX VANGUARD HIGH-YIELD CORP - ADMIRAL SHR 1723.828   2013-11-29 2015-05-20
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 223.276   2014-05-30 2015-05-20
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 215.743   2014-06-30 2015-05-20
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 11699.17   2014-08-04 2015-05-20
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 81324.086   2014-08-04 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 355.987   2014-08-29 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 9302.326   2015-04-24 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 220.008   2014-07-31 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 371.016   2014-11-28 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 383.809   2014-10-31 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 386.089   2015-01-30 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 5597.015   2014-10-06 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 13992.537   2014-10-06 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 359.085   2014-09-30 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 363.485   2015-02-27 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 232.733   2014-04-30 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 713.104   2013-09-30 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 563.347   2013-12-31 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 662.904   2013-07-31 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 385.395   2014-12-31 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 626.378   2013-06-28 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 699.819   2013-08-30 2015-06-09
VFSUX VANGUARD FIXED INCOME STORT TERM - ADMIRAL SHRS 33554.686   2007-06-29 2015-06-09
TGBAX TEMPLETON GLBL BOND FD ADV CL 244.442   2014-06-16 2015-03-25
TGBAX TEMPLETON GLBL BOND FD ADV CL 246.244   2014-05-15 2015-03-25
TGBAX TEMPLETON GLBL BOND FD ADV CL 48900.548   2014-04-10 2015-03-25
PEP PEPSICO INC 650   2009-12-09 2014-07-07
PEP PEPSICO INC 150   2009-08-13 2014-07-07
AGU AGRIUM INC 800   2013-06-07 2014-07-09
AGU AGRIUM INC 800   2013-08-09 2014-07-09
NSC NORFOLK SOUTHERN CORP 650   2012-05-31 2014-07-21
MCD MCDONALDS CORP COM 250   2011-02-22 2014-07-21
PG PROCTER & GAMBLE CO 450   2003-06-25 2014-07-21
MCD MCDONALDS CORP COM 800   2011-02-22 2014-08-20
RIG TRANSOCEAN LTD 1000   2008-10-17 2014-08-22
RIG TRANSOCEAN LTD 1900   2012-09-11 2014-08-22
FCX FREEPORT-MCMORAN COPPER & GOLD COM 1700   2011-09-26 2014-09-03
FCX FREEPORT-MCMORAN COPPER & GOLD COM 400   2012-05-21 2014-09-03
FCX FREEPORT-MCMORAN COPPER & GOLD COM 2400   2008-11-07 2014-09-03
APD AIR PRODUCTS & CHEMICAL INC 50   2009-02-20 2014-10-02
APD AIR PRODUCTS & CHEMICAL INC 100   2009-03-02 2014-10-02
FOXA TWENTY-FIRST CENTURY FOX INC CLASS A 2400   2014-02-20 2014-10-14
FOXA TWENTY-FIRST CENTURY FOX INC CLASS A 4800   2014-02-07 2014-10-14
NSC NORFOLK SOUTHERN CORP 350   2012-05-31 2014-11-07
ODFL OLD DOMINION FGHT LINES INC 2650   2013-11-11 2014-11-12
BBT BB&T CORPORATION 1900   2008-03-20 2014-11-13
BBT BB&T CORPORATION 3500   2008-02-11 2014-11-13
BBT BB&T CORPORATION 3500   2008-01-22 2014-11-13
JLL JONES LANG LASALLE INC 450   2013-06-20 2014-11-18
SWK STANLEY BLACK & DECKER INC 281   2012-10-19 2014-11-18
SWK STANLEY BLACK & DECKER INC 419   2012-10-19 2014-11-19
SWK STANLEY BLACK & DECKER INC 350   2012-06-28 2014-11-19
RGC REGAL ENTMT GROUP CL A 4100   2010-05-10 2014-12-05
RGC REGAL ENTMT GROUP CL A 599   2010-05-07 2014-12-05
RGC REGAL ENTMT GROUP CL A 4701   2010-05-07 2014-12-08
RGC REGAL ENTMT GROUP CL A 4700   2010-05-25 2014-12-09
V VISA INC CL A SHRS 250   2014-09-03 2015-01-05
LOW LOWE'S COMPANIES INC 1050   2012-11-12 2015-01-08
BEN FRANKLIN RES INC 4600   2002-10-07 2015-01-16
TYC TYCO INTERNATIONAL PLC 100   2007-11-19 2015-01-22
TYC TYCO INTERNATIONAL PLC 2000   2007-11-20 2015-01-22
TYC TYCO INTERNATIONAL PLC 625   2002-02-05 2015-01-22
TYC TYCO INTERNATIONAL PLC 1775   2003-02-13 2015-01-22
AXP AMERICAN EXPRESS CO 800   2003-06-25 2015-02-18
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CL A 300   2014-02-07 2015-02-19
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CL A 2000   2012-10-12 2015-02-19
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CL A 50   2012-09-11 2015-02-19
ORCL ORACLE CORP 1900   2014-02-20 2015-03-18
PG PROCTER & GAMBLE CO 3250   2003-06-25 2015-04-21
IP INTL PAPER CO 4650   2015-01-16 2015-06-04
ORCL ORACLE CORP 1600   2014-02-20 2015-06-05
ORCL ORACLE CORP 4200   2014-02-07 2015-06-05
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 716.659   2013-05-28 2014-07-10
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 100.102   2013-06-21 2014-07-10
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 1940.339   2013-04-16 2014-07-10
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 168.397   2014-09-19 2014-10-06
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 142.693   2013-09-20 2014-10-06
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 19.798   2013-08-22 2014-10-06
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 220.592   2013-08-22 2014-10-06
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 172.384   2014-03-21 2015-04-24
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 155.66   2013-12-23 2015-04-24
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 183.57   2014-01-27 2015-04-24
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 1541.228   2014-01-27 2015-04-27
VFIAX VANGUARD INDEX FDS 500 ADMIRAL 3560.348   2014-01-27 2015-05-20
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 190.362   2014-06-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 45.513   2012-09-21 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 70.095   2012-12-21 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 46.746   2012-06-22 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 45.085   2012-03-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 46.563   2011-06-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 61.737   2011-12-22 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 39.498   2011-03-24 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 58.412   2010-12-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 47.767   2010-09-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 53.513   2011-09-22 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 39.178   2010-03-24 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 45.061   2013-03-21 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 50.003   2010-06-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 54.489   2013-09-20 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 56.172   2013-06-21 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 66.46   2009-12-23 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 444.622   2011-12-31 2014-10-06
VGSLX VANGUARD ADMIRAL REIT INDEX FUND 2190.485   2013-11-06 2015-05-20
TFEQX TEMPLETON INSTL FOREIGN EQUITY SERIES CL IN 2820.655   2013-12-23 2014-10-03
TFEQX TEMPLETON INSTL FOREIGN EQUITY SERIES CL IN 88.082   2013-12-23 2014-10-03
TFEQX TEMPLETON INSTL FOREIGN EQUITY SERIES CL IN 1570.691   2013-12-23 2014-10-03
TFEQX TEMPLETON INSTL FOREIGN EQUITY SERIES CL IN 11739.294   2008-01-28 2014-10-03
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 914.687   2014-06-23 2014-10-06
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 985.307   2014-09-23 2014-10-06
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 809.374   2010-12-21 2014-10-06
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 848.844   2013-01-15 2014-10-06
DTEIX DREYFUS TOTAL EMERGING MARKETS 4145.936   2013-01-15 2014-10-07
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 1164.038   2013-01-15 2015-05-20
VEMAX VANGUARD EMERGING MKTS STOCK INDEX ADMIRAL SHRS 1577.19   2013-01-15 2015-05-20
TFEQX TEMPLETON INSTL FOREIGN EQUITY SERIES CL IN 2230.152   2008-01-28 2015-05-20
NORTHB MFO - NORTHPOINTE FUND B 1985033.7986681   2005-01-03 2014-10-16
SCTY SOLARCITY CORPORATION 1177   2007-08-10 2014-07-25
SCTY SOLARCITY CORPORATION 1177   2007-08-10 2014-08-05
SCTY SOLARCITY CORPORATION 1177   2007-08-10 2014-09-17
INTEGRAL6 INTEGRAL CAPITAL PARTNERS VI 3000000   2011-12-31 2014-12-15
TWTR TWITTER INC 125   2011-04-07 2015-02-13
TWTR TWITTER INC 1011   2011-02-04 2015-02-13
SCTY SOLARCITY CORPORATION 1181   2007-08-10 2015-06-26
OSPSX STEELPATH MLP SELECT 40 CL I 2303.041   2013-05-08 2014-07-10
OSPSX STEELPATH MLP SELECT 40 CL I 34761.451   2013-01-28 2014-07-10
OSPSX STEELPATH MLP SELECT 40 CL I 2341.231   2013-08-07 2014-10-06
OSPSX STEELPATH MLP SELECT 40 CL I 9162.737   2013-01-28 2014-10-06
OSPSX STEELPATH MLP SELECT 40 CL I 2413.552   2013-02-07 2014-10-06
OSPSX STEELPATH MLP SELECT 40 CL I 985.61   2012-02-06 2014-10-06
OSPSX STEELPATH MLP SELECT 40 CL I 1748.949   2014-08-11 2015-05-20
OSPSX STEELPATH MLP SELECT 40 CL I 2241.878   2014-05-05 2015-05-20
OSPSX STEELPATH MLP SELECT 40 CL I 2342.139   2014-02-07 2015-05-20
OSPSX STEELPATH MLP SELECT 40 CL I 1836.969   2013-11-07 2015-05-20
DCN180945 OZ OVERSEAS FUND II E-PRIME/36 1300   2011-08-01 2015-01-07
CFCOLD COUNTRYWIDE FINANCIAL CORPORATION 0   2013-08-19 2014-08-20
AIGOLD AIG LITIGATION 0   2013-11-17 2014-11-18
KITD KIT DIGITAL INC 0   2014-02-04 2015-02-05
CBROLD CIBER INC. 0   2014-04-26 2015-04-27
ROUNDING P    
2014 WASH SALES P    
2013 WASH SALES P    
TWC - YAHOO TUMBLER PJT TITAN DOUBLE REPORTED P    
TWC - YUB COUPON STKHLDR DOUBLE REPORTED P    
ANRP (AIV II) LP SCHEDULE K-1 P    
ANRP (AIV II) LP SCHEDULE K-1 P    
ANRP (EPE AIV) LP SCHEDULE K-1 P    
ANRP INTERNATIONAL HOLDINGS LP SCHEDULE K-1 P    
CROSSLINK VENTURES VI, LP - SCHEDULE K-1 P    
CROSSLINK VENTURES VI, LP - SCHEDULE K-1 P    
DRAPER FISHER JURVETSON GROWTH FUND - SCHEDULE K-1 P    
INTEGRAL CAPITAL PARTNERS VI, LP - SCHEDULE K-1 P    
FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT P    
FROM MFO NORTHPOINTE FUND B JOINT VENTURE STMT P    
FROM MFO NORTHPOINTE FUND B JOINT VENTURE STMT P    
FROM MFO TOWLE FUND JOINT VENTURE STMT P    
FROM MFO TOWLE FUND JOINT VENTURE STMT P    
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P    
FROM MFO WESTFIELD FUND B JOINT VENTURE STMT P    
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P    
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P    
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P    
WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 P    
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 4,334   4,397 -63
b 2,876   2,910 -34
c 92,789   93,953 -1,164
d 6,055   6,206 -151
e 6,281   6,427 -146
6,339   6,465 -126
6,472   6,547 -75
5,891   5,950 -59
6,367   6,420 -53
6,254   6,264 -10
6,833   6,969 -136
14,148   14,242 -94
10,360   10,412 -52
2,391   2,407 -16
2,311   2,324 -13
125,298   125,766 -468
866,915   874,234 -7,319
3,795   3,827 -32
99,163   100,000 -837
2,345   2,363 -18
3,955   3,985 -30
4,091   4,118 -27
4,116   4,143 -27
59,664   60,000 -336
149,160   150,000 -840
3,828   3,846 -18
3,875   3,889 -14
2,481   2,513 -32
7,602   7,637 -35
6,005   6,028 -23
7,067   7,086 -19
4,108   4,108 0
6,677   6,677 0
7,460   7,453 7
357,693   352,995 4,698
3,012   3,246 -234
3,034   3,238 -204
602,455   641,575 -39,120
58,246   39,793 18,453
13,441   8,470 4,971
71,502   73,051 -1,549
71,502   68,454 3,048
68,953   43,106 25,847
24,475   19,066 5,409
36,004   20,737 15,267
75,246   61,012 14,234
37,887   73,988 -36,101
71,986   128,525 -56,539
60,002   56,583 3,419
14,118   12,929 1,189
84,709   28,869 55,840
6,375   2,622 3,753
12,750   4,552 8,198
77,402   78,709 -1,307
154,803   155,140 -337
39,393   23,211 16,182
202,517   127,462 75,055
71,266   66,527 4,739
131,280   116,735 14,545
131,280   106,584 24,696
64,055   40,165 23,890
26,778   19,747 7,031
39,668   29,445 10,223
33,136   21,980 11,156
87,228   67,332 19,896
12,744   9,647 3,097
98,382   75,713 22,669
97,516   69,276 28,240
64,794   53,745 11,049
72,692   33,530 39,162
235,848   43,453 192,395
4,238   1,991 2,247
84,768   39,585 45,183
26,490   11,910 14,580
75,232   20,313 54,919
63,995   30,341 33,654
18,332   14,582 3,750
122,214   69,347 52,867
3,055   1,684 1,371
84,025   72,702 11,323
269,636   149,767 119,869
236,317   250,570 -14,253
70,075   61,223 8,852
183,947   156,237 27,710
129,966   110,000 19,966
18,153   14,686 3,467
351,880   281,776 70,104
30,535   31,226 -691
25,875   22,483 3,392
3,590   3,033 557
40,000   33,795 6,205
33,694   29,655 4,039
30,425   26,215 4,210
35,881   30,168 5,713
300,000   253,285 46,715
700,000   585,108 114,892
19,541   13,434 6,107
4,672   4,207 465
7,195   6,435 760
4,798   4,120 678
4,628   3,948 680
4,780   3,815 965
6,337   5,006 1,331
4,054   3,127 927
5,996   4,437 1,559
4,903   3,419 1,484
5,493   3,819 1,674
4,022   2,705 1,317
4,626   3,093 1,533
5,133   3,421 1,712
5,593   3,646 1,947
5,766   3,681 2,085
6,822   4,202 2,620
45,640   24,848 20,792
250,000   211,927 38,073
60,870   63,154 -2,284
1,901   1,972 -71
33,896   35,168 -1,272
253,334   303,813 -50,479
32,133   32,645 -512
34,614   37,146 -2,532
28,433   31,493 -3,060
29,820   31,628 -1,808
50,000   51,451 -1,451
42,464   43,372 -908
57,536   58,766 -1,230
50,000   57,716 -7,716
2,915,140   2,765,155 149,985
84,479   2,827 81,652
83,965   2,827 81,138
80,010   2,827 77,183
118,868   120,553 -1,685
6,074   1,545 4,529
49,123   10,110 39,013
65,869   2,836 63,033
31,068   25,274 5,794
468,932   359,666 109,266
31,419   25,238 6,181
122,964   93,208 29,756
32,390   24,308 8,082
13,227   9,886 3,341
21,407   22,228 -821
27,441   27,811 -370
28,668   26,938 1,730
22,485   19,589 2,896
1,565,216   902,144 663,072
591     591
181     181
468     468
760     760
      -5
      2,099
      22
6,699   6,699 0
8   8 0
      104
      614
      20,333
      -18,898
      1,130
      2,004
      8,448
      -149,369
306,158   329,107 -22,949
4,171,414   4,236,455 -65,041
1,377,777   944,889 432,888
251,599   271,444 -19,845
1,037,913   659,915 377,998
760,716   890,905 -130,189
1,073,883   568,943 504,940
45,223   48,215 -2,992
2,320   2,158 162
      -1,011
      1,542
25,272     25,272
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       -63
b       -34
c       -1,164
d       -151
e       -146
      -126
      -75
      -59
      -53
      -10
      -136
      -94
      -52
      -16
      -13
      -468
      -7,319
      -32
      -837
      -18
      -30
      -27
      -27
      -336
      -840
      -18
      -14
      -32
      -35
      -23
      -19
      0
      0
      7
      4,698
      -234
      -204
      -39,120
      18,453
      4,971
      -1,549
      3,048
      25,847
      5,409
      15,267
      14,234
      -36,101
      -56,539
      3,419
      1,189
      55,840
      3,753
      8,198
      -1,307
      -337
      16,182
      75,055
      4,739
      14,545
      24,696
      23,890
      7,031
      10,223
      11,156
      19,896
      3,097
      22,669
      28,240
      11,049
      39,162
      192,395
      2,247
      45,183
      14,580
      54,919
      33,654
      3,750
      52,867
      1,371
      11,323
      119,869
      -14,253
      8,852
      27,710
      19,966
      3,467
      70,104
      -691
      3,392
      557
      6,205
      4,039
      4,210
      5,713
      46,715
      114,892
      6,107
      465
      760
      678
      680
      965
      1,331
      927
      1,559
      1,484
      1,674
      1,317
      1,533
      1,712
      1,947
      2,085
      2,620
      20,792
      38,073
      -2,284
      -71
      -1,272
      -50,479
      -512
      -2,532
      -3,060
      -1,808
      -1,451
      -908
      -1,230
      -7,716
      149,985
      81,652
      81,138
      77,183
      -1,685
      4,529
      39,013
      63,033
      5,794
      109,266
      6,181
      29,756
      8,082
      3,341
      -821
      -370
      1,730
      2,896
      663,072
      591
      181
      468
      760
      -5
      2,099
      22
      0
      0
      104
      614
      20,333
      -18,898
      1,130
      2,004
      8,448
      -149,369
      -22,949
      -65,041
      432,888
      -19,845
      377,998
      -130,189
      504,940
      -2,992
      162
      -1,011
      1,542
      25,272
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 3,467,759
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 2,976,439 64,497,602 0.046148
2012 2,769,948 60,096,593 0.046092
2011 2,848,093 56,664,041 0.050263
2010 2,646,720 58,448,881 0.045283
2009 2,477,881 53,206,313 0.046571
2 Total of line 1, column (d) ...................... 2 0.234357
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 0.046871
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 65,121,359
5 Multiply line 4 by line 3....................... 5 3,052,303
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 43,166
7 Add lines 5 and 6......................... 7 3,095,469
8 Enter qualifying distributions from Part XII, line 4.............. 8 3,197,596
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 43,166
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 43,166
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 43,166
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 99,949
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 99,949
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 56,783
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet56,783 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.ISABEL.ORG
    14
    The books are in care ofbulletROBERT T BROWNLEE JR Telephone no.bullet (810) 767-0136
    Located atbullet111 EAST COURT STREET SUITE 3DFLINTMI ZIP+4bullet485021649
    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?
    16Yes  
    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 bulletEI
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    WILLIAM S WHITE VICE PRESIDENT & SECRETARY
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    TIFFANY W LOVETT PRESIDENT
    15.00     		30,000 12,208 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    RIDGWAY H WHITE TREASURER
    0.00     		0 0 0
    111 EAST COURT STREET SUITE 3D
    FLINT,MI485021649
    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
    MFO MANAGEMENT COMPANY ACCOUNTING/ INVESTMENT ADVICE 152,500
    111 E COURT ST SUITE 3D
    FLINT,MI48502
    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 THE FOUNDATION LEASES A COLLECTION OF ARTWORK AT NO COST TO THE FLINT INSTITUTE OF ARTS, A PUBLIC CHARITY, FOR PUBLIC DISPLAY BY THE FLINT INSTITUTE OF ARTS. THE FLINT INSTITUTE OF ARTS IS THE SECOND LARGEST ART MUSEUM IN THE STATE OF MICHIGAN AND, EACH YEAR, MORE THAN 160,000 PEOPLE VISIT THE FLINT INSTITUTE OF ART'S GALLERIES (FREE OF CHARGE) AND PARTICIPATE IN ITS PROGRAMS AND SERVICES. 0
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 THE FOUNDATION DOES NOT MAKE ANY PROGRAM RELATED INVESTMENTS 0
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    48,072,331
    b
    Average of monthly cash balances.......................
    1b
    1,767,986
    c
    Fair market value of all other assets (see instructions)................
    1c
    16,272,738
    d
    Total (add lines 1a, b, and c).........................
    1d
    66,113,055
    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
    66,113,055
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    991,696
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    65,121,359
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,256,068
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,256,068
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    43,166
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
    2,700
    c
    Add lines 2a and 2b............................
    2c
    45,866
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,210,202
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    4,000
    5
    Add lines 3 and 4............................
    5
    3,214,202
    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
    3,214,202
    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
    3,197,596
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    3,197,596
    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
    43,166
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,154,430
    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 3,214,202
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 3,053,344
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e......... 0
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 3,197,596
    a Applied to 2013, but not more than line 2a 3,053,344
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 144,252
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2014. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		3,069,950
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    TIMOTHY C SANFORD FAX 810 767-1207
    C/O MFO MANAGEMENT COMPANY 111 E
    COURT STREET SUITE 3D
    FLINT,MI485021649
    (810) 767-0136
    bThe form in which applications should be submitted and information and materials they should include:
    INITIAL SUBMISSION SHOULD BE IN THE FORM OF A LETTER EXPLAINING THE ORGANIZATION AND THE PURPOSE OF THE REQUEST.
    cAny submission deadlines:
    A FORMAL SUBMISSION DEADLINE HAS NOT BEEN ESTABLISHED BUT GRANTS ARE MADE PRIMARILY IN JUNE.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    THE ORGANIZATION WAS FORMED TO MAINTAIN A FUND OR FUNDS SO THAT THE INCOME THEREFROM AND THE PRINCIPAL THEREOF CAN BE USED TO PROVIDE FINANCIAL SUPPORT TO RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL ACTIVITIES EITHER DIRECTLY, OR THROUGH DIRECT CONTRIBUTIONS, GIFTS AND GRANTS TO OTHER ORGANIZATIONS, WHICH CARRY ON SUCH ACTIVITIES AND ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MAJORITY OF, AND AT LEAST SEVENTY-FIVE PERCENT OF, CONTRIBUTIONS, GIFTS AND GRANTS MADE ANNUALLY ARE TO BE MADE TO OTHER TAX-EXEMPT CHARITABLE AND RELIGIOUS ORGANIZATIONS DEDICATED TO SUPPORTING OR CONTRIBUTING TO THE CAUSE OF CHRISTIAN SCIENCE.
    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
    ADVENTURE UNLIMITED
    5201 SOUTH QUEBEC STREET
    GREENWOOD VILLAGE,CO80111     		NONE PC GENERAL OPERATING 330,000
    AMERICAN CORPORATION FOR THE ARTS
    6233 HOLLYWOOD BOULEVARD
    LOS ANGELES,CA90028     		NONE PC GENERAL OPERATING 5,850
    ARDEN WOOD INC
    445 WAWONA STREET
    SAN FRANCISCO,CA94116     		NONE PC GENERAL OPERATING 90,000
    ARTSCONNECTION INC
    520 EIGHTH AVENUE SUITE 321
    NEW YORK,NY10018     		NONE PC GENERAL OPERATING 2,500
    ALBERT BAKER FUND THE
    PO BOX 179
    AMADOR CITY,CA956010179     		NONE PC GENERAL OPERATING 20,000
    ASSOCIATION OF ORGANIZATIONS FOR CHRISTIAN SCIENCE
    SUNLAND HOME FOUNDATION 691 SPARTA
    DRIVE
    ENCINITAS,CA92024     		NONE PC GENERAL OPERATING 15,000
    BEACON HAVEN
    1200 LONG LAKE ROAD
    SAINT PAUL,MN55112     		NONE PC GENERAL OPERATING 20,000
    BERKELEY HALL SCHOOL
    16000 MULHOLLAND DRIVE
    LOS ANGELES,CA900491196     		NONE PC GENERAL OPERATING 5,000
    BRANCH SCHOOL THE
    1424 SHERWOOD FOREST STREET
    HOUSTON,TX77043     		NONE PC GENERAL OPERATING 10,000
    BROADVIEW INC
    4570 GRIFFIN AVENUE
    LOS ANGELES,CA90031     		NONE PC GENERAL OPERATING 80,000
    CAMPERSHIP FUND FOR CHRISTIAN SCIENTISTS IN THE
    SOUTHEAST THE 2860 UMBERLAND DRIVE
    ATLANTA,GA30340     		NONE PC GENERAL OPERATING 20,000
    CAMPS LEELANAU & KOHAHNA FOUNDATION INC
    1653 PORT ONEIDA ROAD
    MAPLE CITY,MI49664     		NONE PC GENERAL OPERATING 55,000
    CAMPS NEWFOUNDOWATONNA CORPORATION
    4 CAMP NEWFOUND ROAD
    HARRISON,ME040409987     		NONE PC GENERAL OPERATING 60,000
    CANTERBURY CREST INC
    P O BOX 19147
    PORTLAND,OR972800147     		NONE PC GENERAL OPERATING 5,000
    CEDARS CAMPS THE
    1314 PARKVIEW VALLEY DRIVE
    MANCHESTER,MO630114201     		NONE PC GENERAL OPERATING 75,000
    CHESTNUT HILL BENEVOLENT ASSOCIATION
    910 BOYLSTON STREET
    CHESTNUT HILL,MA024672400     		NONE PC ANNUAL CAMPAIGN 75,000
    CHRISTIAN SCIENCE NURSING NETWORK
    5103 SOUTH SHERIDAN ROAD SUITE 403
    TULSA,OK741457627     		NONE PC GENERAL OPERATING 18,000
    CLAIRBOURN SCHOOL
    8400 HUNTINGTON DRIVE
    SAN GABRIEL,CA917751154     		NONE PC SCHOLARSHIPS TO INDIVIDUALS 5,000
    CLEARVIEW HOME CORPORATION
    P O BOX 180198 935 MAIN STREET
    DELAFIELD,WI53018     		NONE PC GENERAL OPERATING 20,000
    COALITION FOR ENGAGED EDCATION
    3131 OLYMPIC BOULEVARD
    SANTA MONICA,CA90404     		NONE PC GENERAL OPERATING 10,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    ONE SOUTH HARBOR AVENUE
    GRAND HAVEN,MI49417     		NONE PC GENERAL OPERATING 8,300
    CRYSTAL LAKE CAMPS INC
    1676 CRYSTAL LAKE ROAD
    HUGHESVILLE,PA17737     		NONE PC GENERAL OPERATING 55,000
    DAYSTAR INC
    3800 SOUTH FLAMINGO ROAD
    FORT LAUDERDALE,FL333301699     		NONE PC BULDING/RENOVATION 40,000
    DOMINION FOUNDATION THE
    P O BOX 17855
    RICHMOND,VA23226     		NONE PC GENERAL OPERATING 60,000
    ELEVATING EDUCATION EVERYWHERE
    11124 KINGSTON PIKE
    KNOXVILLE,TN37934     		NONE PC GENERAL OPERATING 30,000
    FERN LODGE INC
    18457 MADISON AVENUE
    CASTRO VALLEY,CA945461699     		NONE PC GENERAL OPERATING 60,000
    FIRST CHURCH OF CHRIST SCIENTIST BOSTON THE
    210 MASSACHUSETTS AVENUE P05-10
    BOSTON,MA021153195     		NONE PC GENERAL OPERATING 150,000
    FIRST CHURCH OF CHRIST SCIENTIST FLINT THE
    901 HARRISON STREET
    FLINT,MI48502     		NONE PC GENERAL OPERATING 145,000
    FLINT INSTITUTE OF ARTS THE
    1120 E KEARSLEY STREET
    FLINT,MI485031991     		NONE PC GENERAL OPERATING 250,000
    FOUNDATION FOR THE UPTOWN REINVESTMENT CORP
    519 S SAGINAW ST SUITE 200
    FLINT,MI48502     		NONE PC GENERAL OPERATING 100,000
    FRIENDS OF CAMP BOW-ISLE INC
    16880 SE 56TH PLACE
    BELLEVUE,WA980065524     		NONE PC GENERAL OPERATING 25,000
    FRIENDS OF MAITI NEPAL
    63-3 COMMERCIAL WHARF
    BOSTON,MA02110     		NONE PC GENERAL OPERATING 5,000
    FRIENDS OF SUNRISE IN AFRICA INC
    5520 FREMONT AVE N
    BROOKLYN CENTER,MN55430     		NONE PC GENERAL OPERATING 25,000
    GLENMONT
    4599 AVERY ROAD
    HILLIARD,OH430269786     		NONE PC GENRAL OPERATING 55,000
    HARMONY AT HOME FOUNDATION
    1030 AURORA AVENUE SUITE A-220
    NAPERVILLE,IL60540     		NONE PC GENERAL OPERATING 10,000
    HIGH RIDGE HOUSE INC
    5959 INDEPENDENCE AVENUE
    RIVERDALE,NY104711299     		NONE PC GENERAL OPERATING 40,000
    LEAVES INC THE
    1230 WEST SPRING VALLEY ROAD
    RICHARDSON,TX750807709     		NONE PC BUILDING/RENOVATION 50,000
    LINK SCHOOL THE
    18885 COUNTY ROAD 367
    BUENA VISTA,CO81211     		NONE PC GENERAL OPERATING 25,000
    LONGYEAR MUSEUM
    1125 BOYLSTON STREET
    CHESTNUT HILL,MA02467     		NONE PC GENERAL OPERATING 10,000
    LYNN HOUSE OF POTOMAC VALLEY INC
    4400 WEST BRADDOCK ROAD
    ALEXANDRIA,VA223041010     		NONE PC BUILDING/RENOVATION 40,000
    METROPOLITAN OPERA ASSOCIATION INC
    LINCOLN CENTER
    NEW YORK,NY10023     		NONE PC GENERAL OPERATING 10,000
    MORNING LIGHT FOUNDATION INC
    P O BOX 7604
    ATLANTA,GA30357     		NONE PC GENERAL OPERATING 10,000
    NEW TEACHER CENTER
    725 FRONT STREET SUITE 400
    SANTA CRUZ,CA95060     		NONE PC GENERAL OPERATING 15,000
    OLIVE GLEN FOUNDATION INC THE
    P O BOX 1482
    CARMICHAEL,CA956091482     		NONE PC GENERAL OPERATING 30,000
    PEACE HAVEN ASSOCIATION
    12630 ROTT ROAD
    ST LOUIS,MO631271214     		NONE PC GENERAL OPERATING 50,000
    PHILANTHROPY ROUNDTABLE THE
    1150 17TH STREET NW SUITE 503
    WASHINGTON,DC20036     		NONE PC GENERAL OPERATING 5,000
    PRINCIPIA THE
    13201 CLAYTON ROAD
    ST LOUIS,MO631311099     		NONE PC BUILDING/RENOVATION 450,000
    PRINCIPLE FOUNDATION THE
    2405 GRAND BOULEVARD SUITE 1040
    KANSAS CITY,MO64108     		NONE PC GENERAL OPERATING 15,000
    RAINBOW VALLEY RANCH
    PO BOX 768
    WARRENSBURG,NY12885     		NONE PC GENERAL OPERATING 10,000
    SMITH COLLEGE
    33 ELM STREET
    NORTHAMPTON,MA01063     		NONE PC GENERAL OPERATING 35,000
    SUNLAND HOME FOUNDATION
    691 SPARTA DRIVE
    ENCINITAS,CA92024     		NONE PC GENERAL OPERATING 45,000
    SUNRISE HAVEN
    P O BOX 6057
    KENT,WA98064     		NONE PC GENERAL OPERATING 35,000
    TENTH CHURCH OF CHRIST SCIENTIST - LOS ANGELES
    1133 SOUTH BUNDY DRIVE
    LOS ANGELES,CA90049     		NONE PC GENERAL OPERATING 30,000
    THIRD CHURCH OF CHRIST SCIENTIST
    11001 SW 87TH AVE
    MIAMI,FL331763736     		NONE PC BUILDING/RENOVATION 5,000
    TWELVEACRES INC
    595 MILLICH DRIVE SUITE 104
    CAMPBELL,CA950080550     		NONE PC GENERAL OPERATING 95,000
    UCLA GRADUATE SCHOOL OF EDUCATION
    2403 MOORE HALL BOX 951521
    LOS ANGELES,CA900951521     		NONE GOV GENERAL OPERATING 10,000
    VILLAGE INC THE
    17881 VILLAGE ROAD
    SPRINGDALE,AR72764     		NONE PC GENERAL OPERATING 20,000
    VISITING CHRISTIAN SCIENCE NURSE SERVICE FOR MICHIGAN
    PO BOX 702072
    PLYMOUTH,MI48170     		NONE PC GENERAL OPERATING 15,000
    VISITING NURSE SERVICE FOR CHRISTIAN SCIENTISTS IN LOS ANGELES COUNTY INC
    P O BOX 9745
    GLENDALE,CA912260745     		NONE PC GENERAL OPERATING 5,000
    WIDE HORIZON INC
    8900 WEST 38TH AVENUE
    WHEAT RIDGE,CO80033     		NONE PC GENERAL OPERATING 75,000
    YMCA OF NORTHERN MICHIGAN
    622 HOWARD STREET
    PETOSKEY,MI49770     		NONE PC GENERAL OPERATING 5,000
    Total .................................bullet 3a 3,074,650
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 139  
    4 Dividends and interest from securities.... 900099 18,998 14 1,229,341  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 3,750  
    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 3,467,759  
    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).. 18,998 4,700,989 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    134,719,987
    (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:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MFO MANAGEMENT FEE 152,500 148,000   4,500
    AUDIT AND TAX FEES 3,750 0   3,750

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

    TY 2014 DepreciationSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    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 1995-10-23 101,010 47,529 SL 39.000000000000 2,590 2,590    
    SAMSUNG AIO COMPUTER 2013-08-29 922 154 200DB 3.000000000000 205 0    

    TY 2014 InvestmentsCorpBondsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BLACKROCK FLOATING RATE INC PORTFOLIO, 143552.791 SHS. 1,502,297 1,475,723
    TEMPLETON GLOBAL BOND FUND, 49822.385 SHS 653,645 608,331
    VANGUARD ADMIRAL HIGH YIELD CORPORATE FD, 271381.876 SHS. 1,390,823 1,603,867
    VANGUARD ADMIRAL SHORT-TERM INVESTMENT GR, 93129.987 SHS 964,613 992,766

    TY 2014 InvestmentsCorpStockSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AIR PRODUCTS AND CHEMICALS, INC., 1200.00 SHS. 54,628 164,196
    AMERICAN EXPRESS COMPANY, 2100.00 SHS. 79,646 163,212
    ANADARKO PETROLEUM CORPORATION, 2850.00 SHS. 130,441 222,471
    APPLE INC, 3220 SHS. 240,689 403,869
    BLACKROCK INC, 825 SHS. 147,345 285,434
    CBS CORP NEW CL B 3050.00 SHS. 162,042 169,275
    COCA-COLA COMPANY (THE), 6400.00 SHS. 162,339 251,072
    CONOCOPHILLIPS, 3450.00 SHS. 162,083 211,865
    COGNIZANT TECHNOLOGY SOLUTIONS CL A, 4150 SHS. 137,940 253,524
    DISNEY (WALT) CO COM STK, 2200 SHS. 141,863 251,108
    DOW CHEMICAL CO 5,200 SHS 230,125 266,084
    E.I. DU PONT DE NEMOURS AND COMPANY, 3750.00 SHS. 144,461 239,813
    DUNKIN BRANDS GROUP INC 3450.00 SHS. 166,551 189,750
    EMC CORPORATION, 9100.00 SHS. 134,476 240,149
    EBAY INC., 5350.00 SHS. 285,559 322,284
    EOG RESOURCES INC 2850 SHS. 245,855 249,518
    GLAXOSMITHKLINE PLC ADR 5350 SHS 248,108 222,828
    HOME DEPOT, INC. (THE), 4700.00 SHS. 91,747 522,311
    JONES LANG LASALLE INC COM, 1200.00 SHS. 107,108 205,200
    JP MORGAN CHASE & CO, 4550 SHS. 221,517 308,308
    KANSAS CITY SOUTHERN, 1650 SHS. 161,600 150,480
    LOWES COS INC COM 3550.00 SHS. 112,354 237,744
    MCDONALD'S CORPORATION, 1800.00 SHS. 135,915 171,126
    MICROCHIP TECHNOLOGY INC 5650.00 SHS 235,978 267,951
    MONDELEZ INTERNATIONAL, 6900 SHS. 222,477 283,866
    MORGAN STANLEY 7300 SHS 257,378 283,167
    NORFOLK SOUTHERN CORPORATION, 2200.00 SHS. 145,899 192,192
    OLD DOMINION FGHT LINE INC, 2200 SHS 105,077 150,931
    PEPSICO, INC., 2850.00 SHS. 160,930 266,019
    PHILLIPS 66 3350 SHS. 278,472 269,876
    PIONEER NATURAL RESOURCES CO 500 SHS 74,233 69,345
    QUALCOMM INCORPORATED, 3250.00 SHS. 112,551 203,548
    REGAL ENTERTAINMENT GROUP, 7550.00 SHS. 154,684 157,871
    SCHLUMBERGER LIMITED, 2500.00 SHS. 66,583 215,475
    STANLEY BLACK AND DECKER, INC., 1750.00 SHS. 109,901 184,170
    TIME WARNER INC 2100 SHS 170,420 183,561
    TJX COS INC NEW 4100.00 SHS 252,842 271,297
    UNITED PARCEL SVC CL B 1650 SHS 165,079 159,902
    UNITED TECHNOLOGIES CORPORATION, 2200.00 SHS. 169,242 244,046
    VANGUARD INDEX FDS 500 ADMIRAL, 29562.149 SHS 4,299,488 5,627,451
    VERIZON COMMUNICATIONS INC., 4350.00 SHS. 144,726 202,754
    VISA INC CLA A SHS, 3800 SHS. 203,473 255,170
    WASTE MANAGEMENT INC., 3700.00 SHS. 122,643 171,495
    TWITTER INC SHS 1225.00 15,141 44,370
    HAGGERTY - HCP/HBAS 500,000 466,224 500,000
    DREYFUS TOTAL EMERGING MARKETS CL I, 266813.404 SHS. 3,198,454 2,958,961
    WORLD ASSET MGMT INTERNATIONAL FUND, 150181.33 SHS. 1,830,615 2,111,871
    TEMPLETON INSTL. FOREIGN EQUITY FUND, 136577.565 SHS. 3,019,309 2,895,444
    VANGUARD ADMIRAL EUROPEAN STOCK INDEX FUND, 18662.76 SHS. 1,315,039 1,259,176
    VANGUARD INTL ADM EMERGING MKTS INDEX FD,89812.719 SHS. 2,826,290 3,067,104
    MFO - D&D SMID CAP VALUE FUND, 2915140.01 SHS 2,900,944 3,203,607
    MFO - WESTFIELD FUND B, 94149.3005861 SHS. 2,030,150 3,526,828
    MFO - TOWLE FUND, 575944.9124086 SHS. 2,351,413 3,519,868
    VANGUARD ADMIRAL REIT INDEX FUND, 17379.531 SHS. 1,447,606 1,841,535

    TY 2014 InvestmentsLandSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 101,010 50,119 50,891  

    TY 2014 InvestmentsOtherSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MFO - NORTHPOINTE FUND B, RESIDUAL FMV 17,942 17,942
    ARES CAPITAL CORPORATION, 10800.00 SHS. FMV 721,937 177,768
    STEELPATH MLP SELECT 40 CL A, 166476.856 SHS. FMV 956,725 1,248,419
    DRAPER FISHER JURVETSON GROWTH FUND LP FMV 971,012 2,046,421
    DRAPER FISHER JURVETSON GROWTH 2013 FUND LP FMV 583,608 621,761
    CROSSLINK VI VENTURE FUND FMV 187,442 323,606
    ARBORETUM VENTURES III FMV 272,550 288,284
    ARBORETUM VENTURES IV FMV 500,000 500,000
    ARCHIPELAGO HLDGS LTD-OFFSHORE FMV 1,500,000 2,167,632
    ELLIOTT INTERNATIONAL LIMITED FMV 1,500,000 1,506,037
    KINDER MORGAN INC DEL FMV 250,983 228,421
    OTTER CREEK INTL SERIES 1-09 FMV 956,000 1,222,600
    OTTER CREEK INTL SERIES 2-11 FMV 300,000 307,107
    PERSHING SQUARE HOLDINGS LTD FMV 1,289,550 1,721,218
    WEXFORD OFFSHORE SPECTRUM C-0000-E FMV 1,300,000 1,973,898
    YORK CREDIT OPPTN - A/8 SERIES FMV 1,000,000 1,314,845
    TACONIC OFFSHORE 1.5 LTD CL A-NR SER 1 FMV 1,300,000 1,551,219
    APOLLO NATURAL RESOURCE PARTNERS LP FMV 20,191 20,191
    ANRP (AIV II) LP FMV 4,132 4,131
    ANRP (EPE AIV) LP FMV 83,417 30,098
    ANRP APEX ENERGY & ANRP DOUBLE EAGLE ENERGY HOLDING FMV 4,097 100,205
    ANRP CAELUS FMV 11,675 22,235
    ANRP DE HOLDINGS LP FMV 6,620 6,621
    ANRP DEBT HOLDIGS AIV, LP FMV 9,969 9,969
    ANRP EXPRESS FMV 10,581 19,143
    ANRP INTERNATIONAL HOLDINGS LP FMV 294,392 226,431
    ANRP JUPITER RESOURCES FMV 5,400 39,198
    ANRP TALOS ENERGY FMV 2,465 49,363

    TY 2014 LandEtcSchedule2
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    SAMSUNG AIO COMPUTER 922 820 102 102


    TY 2014 OtherAssetsSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INLANDER COLLECTION OF FINE ART -   1,241,129 1,901,500
    THE ART COLLECTION WAS PURCHASED BY THE FOUNDATION IN 2003 AND HAS   0  
    BEEN ON LOAN TO THE FLINT INSTITUTE OF ARTS SINCE 2003.   0  
    IN PRIOR YEARS, THE ART WAS   0  
    REPORTED AS AN INVESTMENT ON PART II, LINE 13 OF THE FOUNDATION'S   0  
    FORM 990-PF. TO REFLECT THAT THE ART COLLECTION IS BEING USED (OR   0  
    HELD FOR USE) DIRECTLY IN CARRYING OUT THE FOUNDATION'S   0  
    EXEMPT PURPOSES, THE FOUNDATION HAS RECATEGORIZED THE ART   0  
    COLLECTION AS AN "OTHER ASSET" ON PART II, LINE 15 OF THE   0  
    FOUNDATION'S FORM 990-PF.   0  


    TY 2014 OtherDecreasesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FILING FEE 20 0   20
    PAYROLL PROCESSING 1,951 40   1,911
    MEALS 1,982 99   1,883
    BANK FEES 547 0   547
    DFJ GROWTH 2013, LP - SCHEDULE K-1 11,063 11,063   0
    DRAPER FISHER JURVETSON GROWTH FUND - SCHEDULE K-1 33,624 33,624   0
    FROM MFO WESTFIELD FUND B JOINT VENTURE STMT 18,363 18,363   0
    FROM MFO D&D SMID CAP VALUE FUND JOINT VENTURE STMT 926 926   0
    FROM MFO TOWLE FUND JOINT VENTURE STMT 26,361 26,361   0
    INTEGRAL CAPITAL PARTNERS VI - SCHEDULE K-1 1,869 1,869   0
    FROM MFO NORTHPOINTE FUND B JOINT VENTURE STMT 21,980 21,980   0
    CROSSLINK VENTURES VI, L.P. - SCHEDULE K-1 3,048 3,048   0
    MISCELLANEOUS 840 0   840
    WORLD ASSET MGMT. INTL. EQUITY FUND - SCHEDULE K-1 4,442 4,442   0
    ARBORETUM VENTURES III - SCHEDULE K-1 7,405 7,405   0
    FROM ANRP (AIV II) LP - SCHEDULE K-1 746 746   0
    FROM ANRP (EPE AIV) LP SCHEDULE K-1 22,304 22,304   0
    FROM ANRP DE HOLDINGS LP SCHEDULE K-1 11,606 11,606   0
    FROM ANRP INTERNATIONAL HOLDINGS LP SCHEDULE K-1 5,707 5,707   0


    TY 2014 OtherIncreasesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Description Amount
       


    TY 2014 OtherLiabilitiesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Description Beginning of Year - Book Value End of Year - Book Value
    ARBORETUM VENTURES III-CAPITAL COMMITMENT 90,000 49,800
    ARBORETUM VENTURES IV-CAPITAL COMMITMENT 0 464,000
    APOLLO NATURAL RESOURCE - CAPITAL COMMIT 302,559 195,033
    ELLIOTT INTL LTD CAPITAL COMMITMENT 1,350,000 918,000
    CROSSLINK VI VENTURE FUND - CAPITAL COMM. 32,520 32,520
    DFJ GROWTH 2013 FUND - CAPITAL COMMITMENT 432,900 251,400


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    NANTUCKET CAPITAL MGMT 30,494 30,494   0
    PROFESSIONAL SERVICES 8,734 0   8,734


    TY 2014 TaxesSchedule
    Name:
    THE ISABEL FOUNDATION
    EIN: 38-2853004
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD AND FEDERAL EXCISE TAXES 29,178 34,071   0
    PAYROLL TAXES 5,626 129   5,497
    FROM MFO NORTHPOINTE B JOINT VENTURE STMT 30 30   0
    4TH SEARSVALE REAL ESTATE TAXES 54,319 54,319   0