Form990-PF
Click to see attachment

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
LOCKHART VAUGHAN FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)JB POWELLJR 2 EAST READ ST NO 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21202
A Employer identification number

52-1693184
B Telephone number (see instructions)

(410) 837-9400
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$31,451,526J 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)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 661,172 661,172  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 438,172
b Gross sales price for all assets on line 6a 6,746,201
7 Capital gain net income (from Part IV, line 2)... 438,172
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........ 1,099,344 1,099,344  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 17,798 0   17,798
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 7,000 0   7,000
c Other professional fees (attach schedule).... Click to see attachment 95,749 95,749   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 50,272 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 12,060 0   12,060
21 Travel, conferences, and meetings....... 1,332 0   1,332
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 10,841 0   10,841
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 195,052 95,749   49,031
25 Contributions, gifts, grants paid....... 1,675,237 1,675,237
26 Total expenses and disbursements. Add lines 24 and 25 1,870,289 95,749   1,724,268
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -770,945
b Net investment income (if negative, enter -0-) 1,003,595
c Adjusted net income (if negative, enter -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............. 72,675 50,384 50,384
2 Savings and temporary cash investments......... 1,286,853 499,497 499,497
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 2,505,503 Click to see attachment2,909,817 3,034,247
b Investments—corporate stock (attach schedule)....... 1,196,242 Click to see attachment1,311,066 1,576,582
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 22,628,648 Click to see attachment23,166,902 26,290,816
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) 27,689,921 27,937,666 31,451,526
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 27,689,921 27,937,666
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)..... 27,689,921 27,937,666
31 Total liabilities and net assets/fund balances (see instructions). 27,689,921 27,937,666
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
27,689,921
2
Enter amount from Part I, line 27a .....................
2
-770,945
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,018,690
4
Add lines 1, 2, and 3 ..........................
4
27,937,666
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
27,937,666
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 PUBLICLY TRADED SECURITIES P    
b PNC #3895 CAP GAIN DIVIDEND P    
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 6,571,636   6,308,029 263,607
b 174,565 0   174,565
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       263,607
b       174,565
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 438,172
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 1,755,892 34,143,148 0.051427
2013 1,675,638 32,823,436 0.051050
2012 1,554,517 30,433,960 0.051078
2011 1,612,114 30,449,906 0.052943
2010 1,526,634 30,356,669 0.050290
2
Total of line 1, column (d) .....................
20.256788
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
0.051358
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
29,224,297
5
Multiply line 4 by line 3......................
5
1,500,901
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
10,036
7
Add lines 5 and 6........................
7
1,510,937
8
Enter qualifying distributions from Part XII, line 4.............
8
1,724,268
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 10,036
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 10,036
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 10,036
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 36,283
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 36,283
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 26,247
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet26,247 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMD
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbulletN/A
    14
    The books are in care ofbulletJOHN B POWELL JR Telephone no.bullet (410) 837-9400

    Located atbullet2 EAST READ ST SUITE 100BALTIMOREMD ZIP+4bullet21202
    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
     
    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 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
     
     
    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
    SUSAN BAKER POWELL PRESIDENT/TRUSTEE
    1.00     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    JULIA B SCHNUPP TRUSTEE
    0.50     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    BENJAMIN M BAKER III TRUSTEE
    0.60     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    JULIA P O'BRIEN TRUSTEE
    0.50     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    BRENTNALL M POWELL TRUSTEE
    0.50     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    KEVIN A SCHNUPP TRUSTEE
    0.80     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    DAVID B POWELL TRUSTEE
    0.80     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    KATE R POWELL TRUSTEE
    0.50     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    JOHN B POWELL JR SECRETARY/TREASURER
    16.00     		0 0 0
    2 EAST READ ST STE 100
    BALTIMORE,MD21202
    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
    CAMBRIDGE ASSOCIATES LLC INVESTMENT CONSULTING SERVICES 80,424
    4100 NORTH FAIRFAX DRIVE SUITE 1300
    ARLINGTON,VA22203
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    28,616,019
    b
    Average of monthly cash balances.......................
    1b
    1,053,318
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    29,669,337
    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
    29,669,337
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    445,040
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    29,224,297
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,461,215
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,461,215
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    10,036
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    10,036
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,451,179
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,451,179
    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
    1,451,179
    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
    1,724,268
    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
    1,724,268
    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
    10,036
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,714,232
    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 1,451,179
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 87,449
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,724,268
    a Applied to 2014, but not more than line 2a 87,449
    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..... 1,451,179
    e Remaining amount distributed out of corpus 185,640
    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 5 185,640
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		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 ......     		185,640
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015.... 185,640
    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).)
    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:
    JOHN B POWELL JR
    2 EAST READ STREET SUITE 100
    BALTIMORE,MD21202
    (410) 837-9400
    bThe form in which applications should be submitted and information and materials they should include:
    THE LOCKHART VAUGHAN FOUNDATION HAS ADOPTED THE ASSOCIATION OF BALTIMORE AREA GRANTMAKERS ("ABAG") GRANT PROPOSAL FORMAT WHICH CAN BE FOUND AT WWW.ABAGRANTMAKERS.ORG. A GRANT PROPOSAL (ONE COPY) SHOULD INCLUDE A COVER LETTER, A PROPOSAL NARRATIVE, AND ATTACHMENTS, ALL AS OUTLINED IN THE ABAG GRANT PROPOSAL FORMAT. BE SURE TO INCLUDE YOUR MOST RECENT FORM 990.
    cAny submission deadlines:
    DEADLINES FOR SUBMISSION OF GRANT PROPOSALS ARE FEBRUARY 20TH, JUNE 20TH, AND OCTOBER 20TH.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AN INITIAL REVIEW IS MADE OF EVERY GRANT PROPOSAL THAT IS RECEIVED. IF IT IS DETERMINED THAT A GRANT PROPOSAL IS NOT WITHIN THE FOUNDATION'S PURPOSES OR THAT THE FOUNDATION DOES NOT HAVE ADEQUATE FUNDS, THE ORGANIZATION WILL BE NOTIFIED AS SOON AS POSSIBLE. OTHERWISE, THE FOUNDATION WILL ENDEAVOR TO INFORM EACH ORGANIZATION THAT SUBMITTED A GRANT PROPOSAL OF ITS DECISION WITHIN SIXTY (60) DAYS FOLLOWING THE DEADLINE DATE.
    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
    ASSOCIATION OF BALTIMORE AREA GRANTMAKERS
    2 EAST READ STREET 8TH FLOOR
    BALTIMORE,MD21202     		NONE PC COMMUNITY DEVELOPMENT: EDUCATIONAL PROGRAMS AND "BEST PRACTICES" FOR BALTIMORE AREA FOUNDATIONS. 5,250
    TEACH FOR AMERICA - BALTIMORE
    2601 NORTH HOWARD STREET SUITE 300
    BALTIMORE,MD21218     		NONE PC EDUCATION: SUPPORT RECRUITMENT, TRAINING, AND MENTORING OF BALTIMORE CORPS OF TEACH FOR AMERICA. 50,000
    DYSLEXIA TUTORING PROGRAM
    711 W 40TH STREET SUITE 310
    BALTIMORE,MD21211     		NONE PC EDUCATION: TUTORING PEOPLE WITH DYSLEXIA. 18,000
    BALTIMORE SYMPHONY ORHCESTRA
    JOSEPH MEYERHOFF SYMPHONY HALL 1212
    CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC EDUCATION: ORCHKIDS MUSIC INSTRUCTION IN PUBLIC SCHOOLS. 10,000
    PARKS & PEOPLE FOUNDATION
    800 WYMAN PARK DRIVE - SUITE 010
    BALTIMORE,MD21211     		NONE PC EDUCATION: SUPERKIDS SUMMER LEARNING CAMP. 15,000
    MIDDLE GRADES PARTNERSHIP
    1500 UNION AVENUE SUITE 1320
    BALTIMORE,MD21211     		NONE PC EDUCATION: SUMMER LEARNING AND MENTORING MIDDLES SCHOOL STUDENTS IN BALTIMORE PUBLIC SCHOOLS. 30,000
    BRIDGES AT ST PAUL'S
    11152 FALLS ROAD PO BOX 8100
    BROOKLANDVILLE,MD21022     		NONE PC EDUCATION: SUMMER LEARNING AND MENTORING PROGRAM FOR BALTIMORE PUBLIC SCHOOL STUDENTS. 22,000
    BLUE WATER BALTIMORE
    3545 BELAIR ROAD
    BALTIMORE,MD21213     		NONE PC ENVIRONMENT: WORKING FOR CLEAN WATER IN BALTIMORE WATERWAYS. 40,000
    BALTIMORE URBAN DEBATE LEAGUE
    2601 NORTH HOWARD STREET SUITE 150
    BALTIMORE,MD21218     		NONE PC EDUCATION: SUPPORT OF COMPETITIVE MIDDLE AND HIGH SCHOOL DEBATE. 25,000
    PIGTOWN MAIN STREET
    763 WASHINGTON BLVD
    BALTIMORE,MD21230     		NONE PC COMMUNITY DEVELOPMENT: "MAIN STREET" PROGRAMS IN PIGTOWN NEIGHBORHOOD, BALTIMORE. 15,000
    GILMAN SCHOOL
    5407 ROLAND AVENUE
    BALTIMORE,MD21210     		NONE PC EDUCATION: BALTIMORE INDEPENDENT SCHOOL LEARNING CAMP FOR BALTIMORE PUBLIC SCHOOL STUDENTS. 5,000
    ARTS EDUCATION IN MARYLAND SCHOOLS ALLIANCE
    175 W OSTEND STREET SUITE A-3
    BALTIMORE,MD21230     		NONE PC EDUCATION: FOSTERING ARTS EDUCATION IN BALTIMORE PUBLIC SCHOOLS. 10,000
    CIVIC WORKS INC
    2701 ST LO DRIVE
    BALTIMORE,MD21213     		NONE PC EDUCATION: SUMMER EMPLOYMENT FOR BALTIMORE PUBLIC SCHOOL STUDENTS. 10,000
    BALTIMORE OFFICE OF PROMOTION & THE ARTS
    10 E BALTIMORE STREET 10TH FLOOR
    BALTIMORE,MD21202     		NONE PC EDUCATION: SUMMER EMPLOYMENT FOR BALTIMORE PUBLIC SCHOOL STUDENTS. 15,000
    I3 - EXCEPTIONAL COACHING FOR EARLY LANGUAGE AND LITERACY
    2701 N CHARLES STREET SUITE 300
    BALTIMORE,MD21218     		NONE PC EDUCATION: TRAIN TEACHERS IN YOUNGEST GRADES TO USE EFFECTIVE LANGUAGE AND LITERACY STRATEGIES. 23,900
    CALVERT SCHOOL
    105 TUSCANY ROAD
    BALTIMORE,MD21210     		NONE PC ENVIRONMENT: SOLAR ARRAY ON MIDDLE SCHOOL BUILDING AND SOLAR EDUCATION TO SCHOOL COMMUNITY. 106,545
    AMERICAN CIVIL LIBERTIES UNION OF MARYLAND
    3600 CLIPPER MILL ROAD SUITE 350
    BALTIMORE,MD21211     		NONE PC EDUCATION: ADVOCACY, EDUCATION AND MOBILIZATION AROUND ADEQUATE FUNDING FOR PUBLIC EDUCATION. 50,000
    KIPP BALTIMORE
    4701 GREENSPRING AVENUE
    BALTIMORE,MD21209     		NONE PC EDUCATION: CAPITAL CAMPAIGN TO RENOVATE SCHOOL BUILDING. 50,000
    JOHNS HOPKINS DEPARTMENT OF PSYCHIATRY & BEHAVIORAL SCIENCES
    550 NORTH BROADWAY SUITE 914
    BALTIMORE,MD21205     		NONE PC PSYCHIATRIC SERVICES FOR BALTIMORE CHILDREN. 65,000
    EVERYMAN THEATRE
    315 W FAYETTE STREET
    BALTIMORE,MD21201     		NONE PC EDUCATION: THEATRE MATINEE SERIES FOR PUBLIC HIGH SCHOOL STUDENTS. 15,000
    ADVOCATES FOR CHILDREN AND YOUTH
    ONE NORTH CHARLES STREET - SUITE
    2400
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: GENERAL SUPPORT OF RESEARCH, EDUCATION AND ADVOCACY OF CHILDREN'S ISSUES. 30,000
    THREAD
    PO BOX 1584
    BALTIMORE,MD21203     		NONE PC EDUCATION: TUTORING AND MENTORING PROGRAM AT THREE BALTIMORE PUBLIC HIGH SCHOOLS. 30,000
    ENOCH PRATT FREE LIBRARY
    400 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC EDUCATION: SUMMER READING PROGRAM. 25,000
    VILLAGE LEARNING PLACE
    2521 SAINT PAUL STREET
    BALTIMORE,MD21218     		NONE PC EDUCATION: AFTER-SCHOOL AND SUMMER LEARNING PROGRAMS FOR CHARLES VILLAGE/BARCLAY YOUTH. 20,000
    FRIENDS OF PATTERSON PARK
    27 SOUTH PATTERSON PARK AVENUE
    BALTIMORE,MD21231     		NONE PC COMMUNITY DEVELOPMENT: FOSTER COMMUNITY SUPPORT FOR PATTERSON PARK. 7,500
    CENTRAL BALTIMORE PARTNERSHIP
    1800 N CHARLES STREET SUITE 810
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: FOSTER ECONOMIC DEVELOPMENT IN CENTRAL BALTIMORE. 20,000
    STATION NORTH ARTS & ENTERTAINMENT DISTRICT
    1 W NORTH AVENUE
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: PROMOTE STATION NORTH ARTS AND ENTERTAINMENT DISTRICT. 20,000
    COMMUNITY LAW CENTER
    3355 KESWICK ROAD SUITE 200
    BALTIMORE,MD21211     		NONE PC COMMUNITY DEVELOPMENT: FREE LEGAL SERVICES TO BALTIMORE NEIGHBORHOOD GROUPS. 20,000
    BALTIMORE COMMUNITY FOUNDATION
    2 EAST READ STREET
    BALTIMORE,MD21202     		NONE PC COMMUNITY DEVELOPMENT: CIVIC LEADERSHIP FUND. 15,000
    UNION OF CONCERNED SCIENTISTS
    TWO BRATTLE SQUARE
    CAMBRIDGE,MA02138     		NONE PC ENVIRONMENT: WORK ON ISSUES AROUND CLIMATE CHANGE. 20,000
    LILLIE MAE CARROLL JACKSON CHARTER SCHOOL
    5204 ROLAND AVENUE
    BALTIMORE,MD21210     		NONE PC EDUCATION: TO PREPARE FACILITIES FOR START OF SCHOOL. 20,000
    ENOCH PRATT FREE LIBRARY
    400 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: CAPITAL CAMPAIGN FOR CENTRAL BRANCH. 40,000
    CHILDREN'S SCHOLARSHIP FUND BALTIMORE
    1000 ST PAUL STREET
    BALTIMORE,MD21202     		NONE PC EDUCATION: SCHOLARSHIP ASSITANCE TO BALTIMORE FAMILIES. 45,000
    EARTHJUSTICE
    50 CALIFORNIA STREET SUITE 500
    SAN FRANCISCO,CA94111     		NONE PC ENVIRONMENT: TO PROVIDE LEGAL REPRESENTATION BEFORE THE MARYLAND PUBLIC SERVICE COMMISSION. 31,000
    BALTIMORE SCHOOL FOR THE ARTS FOUNDATION INC
    712 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC EDUCATION: TWIGS AFTER-SCHOOL AND SATURDAY PERFORMING ARTS INSTRUCTIONS. 20,000
    SEED SCHOOL OF MARYLAND
    200 FONT HILL AVENUE
    BALTIMORE,MD21223     		NONE PC EDUCATION: BOARDING SCHOOL FOR AT-RISK MARYLAND STUDENTS. 15,000
    COLLEGEBOUND FOUNDATION
    300 WATER STREET SUITE 300
    BALTIMORE,MD21202     		NONE PC EDUCATION: COLLEGE CONSELING AND FINANCIAL AID FOR BALTIMORE PUBLIC HIGH SCHOOL STUDENTS. 25,000
    BUILDING STEPS
    PO BOX 1393
    BROOKLANDVILLE,MD21022     		NONE PC EDUCATION: FOSTER BALTIMORE PUBLIC SCHOOL STUDENTS TO PURSUE CAREERS IN STEM. 15,000
    DIGITAL HARBOR FOUNDATION
    1045 LIGHT STREET
    BALTIMORE,MD21230     		NONE PC EDUCATION: AFTER-SCHOOL PROGRAM FOR TECHNOLOGY EDUCATION. 15,000
    CRISTO REY JESUIT HIGH SCHOOL
    420 SOUTH CHESTER STREET
    BALTIMORE,MD21231     		NONE PC EDUCATION: GENERAL SUPPORT OF CRISTO REY JESUIT HIGH SCHOOL. 50,000
    NEXT ONE UP FOUNDATION INC
    PO BOX 22503
    BALTIMORE,MD21203     		NONE PC EDUCATION: TUTORING AND MENTORING OF BALTIMORE PUBLIC HIGH SCHOOL STUDENTS. 10,000
    HAMPDEN FAMILY CENTER
    1104 WEST 36TH STREET
    BALTIMORE,MD21211     		NONE PC EDUCATION: AFTER-SCHOOL AND SUMMER PROGRAMS. 15,000
    INGENUITY PROJECT INC
    BALTIMORE POLYTECHNIC INSTITUTE
    1400 W COLD SPRING LANE
    BALTIMORE,MD21209     		NONE PC EDUCATION: ADVANCED MATH AND SCIENCE COURSES IN BALTIMORE MIDDLE AND HIGH SCHOOLS. 30,000
    NEW LEADERS MARYLAND
    1500 UNTION AVENUE SUITE 1400
    BALTIMORE,MD21211     		NONE PC EDUCATION: RECRUIT, TRAIN, AND SUPPORT NEW PRINCIPALS OF BALTIMORE PUBLIC SCHOOLS. 40,000
    PLAYWORKS MARYLAND
    2601 NORTH HOWARD STREET SUITE 310
    BALTIMORE,MD21218     		NONE PC EDUCATION: ORGANIZED RECESS AND PHYSICAL ACTIVITIES IN BALTIMORE PUBLIC SCHOOLS. 30,000
    FAMILY LEAGUE OF BALTIMORE
    2305 N CHARLES STREET SUITE 200
    BALTIMORE,MD21218     		NONE PC EDUCATION: SUPPORT OF THE FAMILY LITERACY COALITION. 35,000
    CHESAPEAKE BAY FOUNDATION
    PHILIP MERRILL ENVIRONMENTAL CENTER
    6 HERNDON AVENUE
    ANNAPOLIS,MD21403     		NONE PC ENVIRONMENT: TO RESTORE THE CHESAPEAKE BAY. 45,000
    DOWNTOWN BALTIMORE FAMILY ALLIANCE
    PO BOX 38917
    BALTIMORE,MD21231     		NONE PC COMMUNITY DEVELOPMENT: ENCOURAGING YOUNG FAMILIES TO REMAIN IN DOWNTOWN BALTIMORE. 15,000
    CENTRAL MARYLAND TRANSPORTATION ALLIANCE
    2 EAST READ STREET
    BALTIMORE,MD21202     		NONE PC ENVIRONMENT: WORKING FOR A REGIONAL MASS TRANSIT SYSTEM. 15,000
    BALTIMORE TREE TRUST
    PO BOX 26202
    BALTIMORE,MD21210     		NONE PC ENVIRONMENT: INCREASE BALTIMORE'S TREE CANOPY. 15,000
    BALTIMORE CORPS
    12 W MADISON STREET
    BALTIMORE,MD21202     		NONE PC COMMUNITY DEVELOPMENT: CONNECTING TALENT TO VISIONARY CAUSE LEADERS IN BALTIMORE. 15,000
    BALTIMORE COMMUNITY FOUNDATION
    2 EAST READ STREET
    BALTIMORE,MD21202     		NONE PC COMMUNITY DEVELOPMENT: CIVIC LEADERSHIP FUND ENDOWMENT. 40,000
    OPEN SOCIETY INSTITUTE-BALTIMORE
    201 NORTH CHARLES STREET SUITE 1300
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: DRUG ADDICTION TREATMENT PROGRAM. 30,000
    GILMAN SCHOOL
    5407 ROLAND AVENUE
    BALTIMORE,MD21210     		NONE PC ENVIRONMENTAL: SOLAR ARRAY ON LOWER SCHOOL BUILDING. 65,000
    ST JOHN'S EPISCOPAL CHURCH
    679 FARMINGTON AVENUE
    WEST HARTFORD,CT06119     		NONE PC GENERAL SUPPORT. 10,000
    EMMANUEL EPISCOPAL CHURCH
    811 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC GENERAL SUPPORT. 17,014
    ENOCH PRATT FREE LIBRARY
    400 CATHEDRAL STREET
    BALTIMORE,MD21201     		NONE PC COMMUNITY DEVELOPMENT: GENERAL SUPPORT. 17,014
    UNIVERSITY OF MARYLAND MEDICAL CENTER
    827 LINDEN AVENUE
    BALTIMORE,MD21201     		NONE PC MIDTOWN CAMPUS. 17,014
    MARYLAND FOOD BANK
    2200 HALETHORPE FARMS ROAD
    BALTIMORE,MD21227     		NONE PC GENERAL SUPPORT. 25,000
    HAMPDEN FAMILY CENTER
    1104 WEST 36TH STREET
    BALTIMORE,MD21211     		NONE PC EDUCATION: CAPITAL CAMPAIGN FOR BUILDING. 25,000
    CHILDREN'S SCHOLARSHIP FUND BALTIMORE
    1000 ST PAUL STREET
    BALTIMORE,MD21202     		NONE PC EDUCATION: CAPITAL CAMPAIGN TO "FUND FORWARD" SCHOLARSHIPS FOR BALTIMORE FAMILIES. 50,000
    GREEN STREET ACADEMY FOUNDATION
    125 NORTH HILTON STREET
    BALTIMORE,MD21229     		NONE PC EDUCATION: TO EQUIP HIGH-TECH CLASSROOMS. 15,000
    SALVATION ARMY
    814 LIGHT STREET
    BALTIMORE,MD21230     		NONE PC GENERAL SUPPORT. 10,000
    FUEL FUND OF MARYLAND
    1500 UNION AVENUE SUITE 2400
    BALTIMORE,MD21211     		NONE PC GENERAL SUPPORT. 10,000
    SOUTHWEST BALTIMORE CHARTER SCHOOL
    1300 HERKIMER STREET
    BALTIMORE,MD21223     		NONE PC EDUCATION: TO SUPPORT READING PARTNERS. 15,000
    Total .................................bullet 3a 1,675,237
    bApproved for future payment
    Total .................................bullet 3b 0
    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....     14 661,172  
    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 ............     		    18 438,172  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 1,099,344 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,099,344
    (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:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 7,000 0   7,000

    TY 2015 GeneralExplanationAttachment
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Identifier Return Reference Explanation
      FORM 990-PF, PART XV, LINE 2: THE LOCKHART VAUGHAN FOUNDATION DIRECTS ITS GRANTS TOWARD THREE GOALS IN BALTIMORE, MARYLAND. TO ACHIEVE THOSE GOALS, THE FOUNDATION WILL CONSIDER GRANT PROPOSALS THAT ADDRESS ONE OR MORE OF THE SPECIFIC STRATEGIES LISTED BELOW.GOAL: BALTIMORE CHILDREN WILL HAVE ACCESS TO A QUALITY PUBLIC EDUCATION IN PRE-K THROUGH 12TH GRADE.STRATEGIES: -SUPPORT EFFORTS THAT PROMOTE SCHOOL READINESS FOR CHILDREN 0-3.-STRENGTHEN THE READING READINESS INSTRUCTION IN PRE-KAND KINDERGARTEN PROGRAMS IN BALTIMORE.-SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN BALTIMORE'S PUBLICSCHOOLS.-PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS.-SUPPORT THE RECRUITMENT, TRAINING, AND MENTORING OF ABLE INSTRUCTIONALLEADERS FOR BALTIMORE PUBLIC SCHOOLS.-SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS.-SUPPORT SUMMER LEARNING OPPORTUNITIES.FOR AFTER-SCHOOL AND SUMMER LEARNING PROGRAMS, THE TRUSTEES WILL FAVOR PROGRAMS THAT HAVE INTENSE AND SUSTAINED CONTACT WITH STUDENTS WITH A CONSISTENT MESSAGE OF HIGH EXPECTATIONS.GOAL: BALTIMORE RESIDENTS WILL ENJOY GOOD PARKS, A GREENER ENVIRONMENT, AND A CLEANER CHESAPEAKE BAY WITH HEALTHY WATERSHEDS.STRATEGIES: -SUPPORT GREENING EFFORTS IN BALTIMORE THAT ARE VISIBLE TO THE WIDER COMMUNITY. -SUPPORT EFFORTS IN BALTIMORE TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHEDS.IN ADDITION, THE TRUSTEES ALLOCATE APPROXIMATELY 13% OF THE GRANTS BUDGET FOR PRESELECTED ORGANIZATIONS THAT ARE ADDRESSING CLIMATE CHANGE. THAT IS, THE TRUSTEES DO NOT ACCEPT UNSOLICITED GRANT APPLICATIONS REGARDING CLIMATE CHANGE.GOAL: BALTIMORE WILL BE A CITY WITH VIBRANT NEIGHBORHOODS.STRATEGIES: -SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIALINVESTMENTS IN THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. -SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THECAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE.

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Name of Stock End of Year Book Value End of Year Fair Market Value
    HELEN OF TROY LIMITED (HELE) 20,000 35,155
    CINEMARK HOLDINGS INC (CNK) 20,075 33,831
    DORMAN PRODUCTS INC (DORM) 16,785 16,615
    FIVE BELOW (FIVE) 23,315 19,549
    OXFORD INDUSTRIES INC (OXM) 20,283 25,209
    RUSH ENTERPRISES INC CL A (RUSHA) 30,985 24,517
    EW SCRIPPS CO (SSP) 36,053 28,329
    TEXAS ROADHOUSE INC (TXRH) 15,075 27,793
    TUMI HOLDINGS INC (TUMI) 27,288 21,286
    MATSON INC W/I (MATX) 20,817 31,589
    RED ROBBIN GOURMET BURGERS (RRGB) 28,384 24,696
    SENSIENT TECHNOLOGIES CORP (SXT) 16,743 27,955
    SNYDERS LANCE INC (LNCE) 16,369 24,696
    GULFPORT ENERGY CORP NEW (GPOR) 10,678 12,162
    CATHAY GENERAL BANCORP (CATY) 23,944 30,672
    COLUMBIA BKG SYS INC (COLB) 24,208 27,666
    GLACIER BANCORP INC (GBCI) 27,553 25,734
    UMB FINL CORP (UMBF) 30,896 26,487
    LIVANOVA PLC (LIVN) 36,694 29,863
    AMN HEALTHCARE SERVICES (AHS) 14,252 29,653
    AIR METHODS CORP (AIRM) 17,317 17,191
    ALBANY MOLECULAR RESH INC (AMRI) 38,715 42,618
    GREATBATCH INC (GB) 30,244 27,668
    HEALTHSOUTH CORP (HLS) 15,965 25,551
    MAXIMUS INC (MMS) 19,781 26,831
    NATUS MEDICAL INC (BABY) 28,315 34,596
    OWENS & MINOR INC (OMI) 21,954 26,733
    ALBANY INTERNATIONAL CORP CL A (AIN) 26,437 26,682
    BEACON ROOFING SUPPLY INC (BECN) 28,668 32,779
    FTI CONSULTING INC (FCN) 40,035 35,561
    KORN FERRY INTERNATIONAL (KFY) 23,519 40,480
    STEELCASE INC (SCS) 19,127 29,457
    TEAM HEALTH HOLDINGS INC (TMH) 14,008 28,880
    TENNANT CO (TNC) 20,946 27,455
    TETRA TECH INC NEW (TTEK) 29,096 29,194
    ACXIOM CORP (ACXM) 31,269 35,857
    ANALOGIC CORP NEW (ALOG) 33,610 35,683
    BLACKHAWK NETWORK HLDGS INC COM (HAWK) 26,634 45,713
    COHERENT INC (COHR) 26,730 27,542
    CRAY INC (CRAY) 31,701 31,184
    ELECTRONICS FOR IMAGING INC (EFII) 8,534 27,857
    EPAM SYSTEMS INC (EPAM) 19,030 34,514
    IXIA (XXIA) 25,300 33,412
    IMAX CORP (IMAX) 38,906 49,258
    INTEGRATED DEVICE TECHNOLOGY INC (IDTI) 14,145 37,233
    NIC INC (EGOV) 18,166 20,566
    NICE SYS LTD (NICE) 19,960 32,157
    PEGASYSTEMS INC (PEGA) 41,463 41,223
    PLANTRONICS INC NEW (PLT) 20,869 24,753
    QUALITY SYSTEMS INC (QSII) 17,369 18,377
    TASER INTL INC (TASR) 30,281 22,045
    BALCHEM CORP CL B (BCPC) 29,774 30,826
    MUELLER WATER PRODUCTS INC (MWA) 26,113 26,032
    PTC INC (PTC) 16,688 27,217

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    US Government Securities - End of Year Book Value:

    2,909,817
    US Government Securities - End of Year Fair Market Value:

    3,034,247
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2015 InvestmentsOtherSchedule2
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    DFA INVT DIMENSIONS GROUP AT COST 2,463,000 1,812,146
    FIRST EAGLE AT COST 2,876,620 2,851,385
    HARDING LOEVNER INTERNATIONAL AT COST 2,272,577 3,061,821
    LEGG MASON BW ABSOLUTE RETURN AT COST 2,476,298 2,156,114
    PIMCO COMMODITES REAL RETURN AT COST 5,975 3,379
    TEMPLETON GLOBAL AT COST 2,004,989 1,700,560
    VANGUARD INSTITUTIONAL INDEX FUND AT COST 5,272,276 9,593,957
    WELLS FARGO ADVANTAGE AT COST 2,399,673 2,124,870
    HARBOR INTERNATIONAL FUND AT COST 3,395,494 2,986,584

    TY 2015 OtherExpensesSchedule
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK SERVICE FEES 9 0   9
    DUES 500 0   500
    INSURANCE 3,892 0   3,892
    INTERNET 375 0   375
    MISCELLANEOUS 1,639 0   1,639
    OFFICE EXPENSE 743 0   743
    PARKING 1,459 0   1,459
    POSTAGE 518 0   518
    REPAIRS AND MAINTENANCE 142 0   142
    TELEPHONE 1,564 0   1,564


    TY 2015 OtherIncreasesSchedule
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Description Amount
    PRIOR PERIOD ADJUSTMENT 1,018,690


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CUSTODIAL FEES 14,647 14,647   0
    INVESTMENT CONSULTING FEES 80,424 80,424   0
    OTHER PROFESSIONAL FEES 678 678   0


    TY 2015 TaxesSchedule
    Name:
    LOCKHART VAUGHAN FOUNDATION INC
    EIN:
    52-1693184
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAXS 50,272 0   0