Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
The Gerald and Susan Schwalbach Family
Foundation
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

20-4822291
B Telephone number (see instructions)

(800) 839-1754
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$4,844,635J 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) 0
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 46 46  
4 Dividends and interest from securities... 94,082 94,082  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 218,527
b Gross sales price for all assets on line 6a 1,551,903
7 Capital gain net income (from Part IV, line 2)... 218,527
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 6,238 6,207  
12 Total. Add lines 1 through 11........ 318,893 318,862  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 43,095 43,095    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,121 391    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 31,203 4,371   26,832
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 79,419 47,857   26,832
25 Contributions, gifts, grants paid....... 60,000 60,000
26 Total expenses and disbursements. Add lines 24 and 25 139,419 47,857   86,832
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 179,474
b Net investment income (if negative, enter -0-) 271,005
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.............      
2 Savings and temporary cash investments......... 232,940 516,798 516,798
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)      
b Investments—corporate stock (attach schedule)....... 3,885,830 Click to see attachment4,072,036 4,284,280
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).......... 357,865 Click to see attachment67,275 43,557
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) 4,476,635 4,656,109 4,844,635
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 4,476,635 4,656,109
30 Total net assets or fund balances (see instructions)..... 4,476,635 4,656,109
31 Total liabilities and net assets/fund balances (see instructions). 4,476,635 4,656,109
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
4,476,635
2
Enter amount from Part I, line 27a .....................
2
179,474
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
4,656,109
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
4,656,109
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      
b Passthrough K1 Capital Gain      
c KIDRON - KIDRON ADVISORS II, LP P 2011-06-28 2015-05-05
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 1,172,516   1,051,485 121,031
b       97,496
c 379,387   379,387  
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       121,031
b        
c        
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 218,527
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 112,075 4,982,459 0.022494
2013 451,814 4,699,725 0.096136
2012 354,314 4,476,312 0.079153
2011 344,714 4,691,748 0.073472
2010 289,663 4,649,038 0.062306
2
Total of line 1, column (d) .....................
20.333561
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
0.066712
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
4,922,328
5
Multiply line 4 by line 3......................
5
328,378
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
2,710
7
Add lines 5 and 6........................
7
331,088
8
Enter qualifying distributions from Part XII, line 4.............
8
86,832
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 5,420
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 5,420
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,420
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 4,095
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,531
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,626
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 10 206
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet206 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletAZ, OR
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    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
    Brian A Schwalbach Dir / Sec
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Gerald A Schwalbach Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Mari M Schwalbach VP / Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Nathan P Schwalbach Dir / Treas
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Susan J Schwalbach Pres / Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Winsome Y Schwalbach VP / Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
     
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    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.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    4,449,311
    b
    Average of monthly cash balances.......................
    1b
    374,492
    c
    Fair market value of all other assets (see instructions)................
    1c
    173,484
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,997,287
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    4,997,287
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    74,959
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    4,922,328
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    246,116
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    246,116
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    5,420
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,420
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    240,696
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    240,696
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    240,696
    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
    86,832
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    86,832
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    86,832
    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 7 240,696
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:2013, 2012, 2011  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013...... 212,312
    e From 2014......  
    fTotal of lines 3a through e........ 212,312
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 86,832
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2015 distributable amount..... 86,832
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 153,864 153,864
    (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 58,448
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    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) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		58,448
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013.... 58,448
    d Excess from 2014....  
    e Excess from 2015....  
    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).)
    Gerald A Schwalbach
    Susan J Schwalbach
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (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
    OREGON EPISCOPAL SCHOOL
    6300 SW NICOL RD
    PORTLAND,OR97223     		N/A PC Oregon Episcopal School Lower School Building Campaign 60,000
    Total .................................bullet 3a 60,000
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 46  
    4 Dividends and interest from securities....     14 94,082  
    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 ............     		    18 218,527  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 31 14 6,206  
    bForeign Tax Refund     01 1  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 31 318,862  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13318,893
    (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

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

    TY 2015 DepreciationSchedule
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    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

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 1,872 2,246
    ABSOLUTE STRATEGIES INSTITUTIO 20,000 18,161
    ACTELION N 530 1,395
    ADOBE SYSTEMS, INC 4,245 4,885
    AFFILIATED MANAGERS GROUP 909 799
    AIA GROUP LTD ADR 1,665 2,748
    AKAMAI TECH COM STK 3,762 2,737
    ALEXION PHARMACEUTICALS, INC 5,299 5,150
    ALIBABA GROUP HOLDING LIMITED 30,536 27,632
    ALPHABET INC CL A 8,053 10,892
    ALPHABET INC CL C 3,312 6,071
    AMAZON COM 5,735 11,490
    AMDOCS LIMITED 2,022 2,729
    AMER INTERNATIONAL GROUP INC 2,520 3,099
    AMERICAN TOWER REIT INC 2,042 2,424
    ANALOG DEVICES INC 2,500 2,766
    ANHEUSER BUSCH COS INC 2,150 3,125
    ANTERO RESOURCES CORPORATION 3,017 2,333
    APPLE INC 46,990 68,419
    AQR MANAGED FUTURES FUND CL I 77,217 77,233
    ARMSTRONG WORLD INDU 1,831 1,555
    ASSOCIATED BRITISH FOODS PLC 1,487 2,573
    ASTON OPTIMUM MID CAP FUND CLA 26,963 31,163
    ATLANTIA SPA ADR 2,252 2,257
    AXALTA COATING SYSTEMS LTD 965 1,253
    BAIDU.COM - ADR 1,262 1,512
    BANK OF GA HLDGS PLC 1,135 814
    BARCLAYS PLC ADR 4,098 3,175
    BAXALTA INCORPORATED 2,511 3,044
    BAXTER INTERNATIONAL INC 1,914 1,908
    BAYER A G SPONSORED ADR 1,406 2,247
    BERKLEY W R CP 2,183 2,190
    BLACKROCK HIGH YIELD BOND PORT 21,073 18,975
    BOEING CO 2,611 2,892
    BRENNTAG AG 2,093 2,448
    BRIDGEWAY BALANCED 32,584 35,328
    BRISTOL-MYERS SQUIBB CO 7,308 7,292
    BRITISH AMERICAN TOBACCO PLC 1,683 2,209
    BRIXMOR PPTY GROUP INC COM 3,055 3,305
    BROCADE COMMUNICATIONS SYST IN 3,478 3,084
    BROWN ADVISORY WMC JAPAN ALPHA 18,725 16,928
    CAPITAL PRIVATE CLIENT SVCS FD 37,044 37,621
    CARDINAL HEALTH INC 871 982
    CARLISLE COS INC 3,843 3,370
    CELANESE CORPORATION 1,915 2,222
    CELGENE CORP 4,641 6,108
    CENTRICA 3,150 2,091
    CF INDUSTRIES HOLDINGS, INC 2,154 1,632
    CHARLES SCHWAB CORP 6,412 6,784
    CHARLES SCHWAB INTRNTNL EQ 4,974 4,354
    CHARTER ONE FINL INC 4,111 4,321
    CHEVRON CORP 34,705 24,739
    CHINA BIOLOGIC PRODUCTS INC 1,480 2,137
    CISCO SYSTEMS INC 2,542 2,716
    CITIGROUP INC 3,745 3,881
    COGNIZANT TECHNOLOGY SOLUTIONS 4,561 4,381
    COLUMBIA FDS SRS TR COLUMBIA S 15,500 16,532
    COMCAST CORP 3,969 4,232
    COMMERZBANK AG-SPONS ADR 3,316 2,018
    CONAGRA FOODS INC 1,973 2,361
    CONCHO RESOURCES INC 3,105 2,600
    CONSTELLATION BRANDS INC 2,215 5,413
    CONTINENTAL RESOURCES INC 1,317 1,034
    CONTL AG SPONS ADR 1,371 1,540
    COSTCO WHOLESALE CORPORATION 1,724 2,423
    CREDIT SUISSE GROUP ADR 4,252 3,210
    CRH PLC - AMERICAN DEPOSITARY 2,189 2,680
    CVS CAREMARK CORP 30,965 29,331
    DANAHER CORP 3,768 4,644
    DB X TRACKERS MSCI EAFE HEDGED 49,566 46,063
    DDR CORP 2,548 2,341
    DELPHI AUTOMOTIVE PLC 4,351 5,487
    DELTA AIR LINES INC 4,732 5,931
    DEXUS PROPERTY GROUP 1,604 1,528
    DFA COMMODITY STRATEGY PORTFOL 52,060 35,251
    DFA EMERGING MARKETS CORE EQ P 49,318 40,990
    DFA GLOBAL REAL ESTATE SECURIT 45,020 48,596
    DFA INTERNATIONAL CORE EQUITY 114,861 106,485
    DFA REAL ESTATE SECURITIES POR 29,444 34,202
    DFA U.S. LARGE CAP VALUE PORTF 51,572 55,396
    DFA U.S. SMALL CAP PORTFOLIO 79,540 72,843
    DIAGEO PLC ADS 25,125 45,591
    DISCOVERY COMMUNICATIONS CL A 1,520 1,227
    DIXONS CARPHONE 1,652 1,658
    DNB NOR ASA SPONSOR ADR 1,924 1,607
    DODGE & COX FUNDS INTERNATIONA 80,625 78,358
    DODGE & COX STOCK 46,000 42,484
    DON QUIJOTE CO LTD 1,653 3,821
    DOUBLELINE TOTAL RETURN BOND 15,492 15,059
    EATON VANCE EMERGING MARKETS 11,672 9,228
    EATON VANCE FLOATING-RATE & HI 44,000 40,530
    EATON VANCE GLOBAL MACRO FD CL 23,756 22,745
    ECOLAB INC 4,190 4,575
    EDGEWELL PERSONAL CARE COMPANY 1,799 1,489
    ELECTRONIC ARTS 5,400 5,291
    ENDO INTERNATIONAL PLC 2,988 2,632
    ENVISION HEALTHCAR COM USD0.01 1,172 857
    EOG RESOURCES INC 3,513 2,832
    EVEREST RE GROUP LTD 1,043 2,197
    EXXON MOBIL CORP 2,322 1,949
    F5 NETWORKS, INC 895 873
    FACEBOOK INC 7,238 11,617
    FANUC LIMITED UNSPONSORED 1,484 1,757
    FEDERAL RLTY INVT TR 2,175 2,338
    FIDELITY NATIONAL INFORMATION 2,567 2,424
    FIRST DATA CORP 1,911 1,922
    FIRST ENERGY CORP 3,635 3,300
    FIRST HORIZON NATL 1,383 1,379
    FIRST TRUST DORSEY WRIGHT FOCU 48,880 46,980
    FORTUNE BRANDS HOME & SECURITY 1,800 2,387
    GALLAGHER ARTHUR J & CO 2,142 1,883
    GALP ENERGIA 1,855 1,294
    GAP INC 3,578 2,297
    GENERAL ELECTRIC CO 5,273 6,230
    GENWORTH FINANCIAL INC CL A 1,004 474
    GILEAD SCIENCES INC 4,439 4,655
    GLAXOSMITHKLINE PLC 2,131 2,381
    GOLDMAN SACHS GROUP 2,446 2,703
    GREAT PLAINS ENERGY 1,784 2,048
    GRUPO FIN STANTANDER - ADR B 1,491 1,248
    GUGGENHEIM S&P EQUAL WEIGHT ET 8,496 9,963
    GULFPORT ENERGY CORP 1,343 1,057
    HALLIBURTON COMPANY 2,692 1,702
    HARRIS CORP DEL 3,550 3,563
    HDFC BANK LTD ADR 1,596 1,602
    HELLA KGAA HUECK & CO EUR 1,594 1,464
    HERTZ GLOBAL HOLDINGS INC 3,615 2,476
    HOME DEPOT INC 10,645 13,225
    HUNTINGTON BANCSHARES INC 2,934 3,351
    IAC/INTERACTIVE CORP 1,411 1,261
    INFINEON TECH ADS 2,176 3,047
    ING CLARION GLOBAL REAL ESTATE 56,100 49,362
    ING US INC 690 1,255
    INGERSOL-RAND PLC 1,890 1,880
    INTEL CORP 30,383 43,063
    INTERCONTINENTAL EXCHANGE, INC 4,867 5,638
    ISHARES IBOXX $ HIGH YIELD COR 13,610 11,684
    ISHARES INTL DEV PPTY ETF 5,016 5,269
    ISHARES JP MORGAN 41,097 38,821
    ISHARES MSCI EMERGING MARKETS 48,993 38,628
    ISHARES MSCI-JAPAN 1,581 1,503
    ISHARES RUSSELL 2000 23,248 33,786
    ISHARES TR S & P MIDCAP 400 IN 31,861 45,697
    ISHARES TRUST MSCI EAFE INDEX 184,445 173,049
    ISHARES TRUST RUSSELL MIDCAP I 82,105 88,099
    JAPAN AIRLINES 2,301 2,707
    JAPAN TOBACCO INC 3,160 3,717
    JOHN HANCOCK II-STR INC-I 18,937 18,199
    JOHN HANCOCK LARGE CAP EQUITY 65,784 74,039
    JOHNSON & JOHNSON 2,352 2,568
    JP MORGAN CHASE 4,238 4,952
    JUST EAT PLC 2,034 2,292
    KIRBY CORPORATION 1,696 1,105
    KROGER CO 4,211 4,267
    L'AIR LIQUIDE ADR OTC 1,600 1,637
    LABORATORY CORP AMER HLDGS 2,996 3,462
    LEG IMMOBILIEN AG EUR 2,715 3,594
    LEVEL 3 COMMUNICATIONS, INC 3,143 3,153
    LIBERTY MEDIA CORPORATION - SE 1,536 1,676
    LINCOLN NATIONAL CORP 3,756 4,121
    LINEAR TECHNOLOGY CORP 3,561 3,185
    LIXIL GROUP CORPORATION 1,012 1,072
    M&T BANK CORP 2,641 2,666
    MAN WAH HOLDINGS LTD HKD 1,071 1,882
    MARTIN MARIETTA MATLS INC 1,574 1,502
    MAXIM INTEGRATED PRODS INC 1,585 1,976
    MCDONALD'S CORP 5,020 5,907
    MCGRAW-HILL 5,211 5,028
    MCKESSON CORP 2,003 1,972
    MEAD JOHNSON NUTRITI 2,149 1,816
    MEDTRONIC PLC 2,412 2,692
    MERCK & CO INC 2,774 2,641
    MERLIN ENTERTAINMENTS PLC 1,332 1,470
    METROPOLITAN WEST RETURN BOND 15,245 14,949
    MFS INTERNATIONAL GROWTH FUND 48,000 46,481
    MGM RESORTS INTERNATIONAL 1,653 1,931
    MICROSOFT CORP 4,792 6,935
    MID AMER APT COMMUN 1,155 1,362
    MOHAWK INDS INC 844 1,136
    MONDELEZ INTERNATIONAL INC 3,364 4,484
    MYLAN NV 1,680 1,892
    NATIONWIDE HIGHMARK SMALL CAP 25,000 25,081
    NAVIENT CORPORATION 1,645 1,282
    NESTLE S.A 2,493 3,572
    NEUBERGER BERMAN MULTI CAP OPP 26,080 37,250
    NEWFIELD EXPLORATION CO 1,484 1,400
    NEXT GROUP PLC 1,620 1,600
    NIKE INC-CL B 3,390 4,875
    NOBLE ENERGY INC 1,949 1,844
    NOMURA HOLDINGS ADR 2,405 2,209
    NOVARTIS AG ADR 2,093 3,356
    NRG ENERGY 2,582 1,024
    NUVEEN PREFERRED SECURITIES FU 47,342 47,202
    NUVEEN REAL ESTATE SECURITIES 9,931 11,537
    OAKMARK INTERNATIONAL FUND CL 38,249 32,252
    OCCIDENTAL PETROLEUM CORP 1,821 1,352
    ORACLE CORP 3,094 2,740
    PACKAGING CORP AMER 1,957 2,207
    PACWEST BANCORP 1,128 1,164
    PALO ALTO NETWORKS INC 2,699 4,051
    PANDORA MEDIA INC 677 590
    PARNASSUS EQUITY INCOME FUND I 17,673 26,730
    PEPSICO INC 2,094 2,498
    PFIZER INC 3,120 3,228
    PG & E CORP 1,737 1,968
    PHILIP MORRIS INTL 2,104 2,198
    PIMCO ALL ASSET ALL AUTHORITY 16,000 11,426
    PIMCO HIGH-YIELD INSTL 35,645 31,119
    PIMCO INCOME FUND 84,999 80,307
    PIMCO TOTAL RETURN FUND 92,827 84,342
    PINNACLE FOODS INC 1,627 2,123
    PIONEER NAT RES CO 2,768 2,382
    PRINCIPAL FINANCIAL GROUP 1,170 2,159
    PRINCIPAL PREFERRED SECURITIES 14,020 13,544
    PROCTER GAMBLE CO 3,268 3,176
    PROLOGIS 2,933 3,047
    PRUDENTIAL PLC SC 2,351 3,065
    PUTNAM CAPITAL SPECTRUM FUND C 113,573 116,226
    QUALCOMM INC 34,047 26,992
    RALPH LAUREN CORP 3,811 3,344
    RAYMOND JAMES FINANCIAL INC 3,275 3,652
    RECRUIT HLDGS CO LTD JPY 3,163 2,959
    REGENERON PHARMACEUTICALS, INC 4,154 4,343
    RELX PLC 2,080 2,354
    RLJ LODGING TRUST 2,349 1,730
    ROCHE HOLDING LTD ADR 1,729 3,137
    ROYAL CARRIBEAN CRUISE 2,310 2,530
    ROYAL DUTCH SHEL PLC SPONS ADR 2,751 2,440
    SALESFORCE.COM 4,005 4,234
    SALIENT MLP & ENERGY INFRASTRU 36,020 27,048
    SALLY BEAUTY HLDG 1,109 1,339
    SANOFI-AVENTIS SPONSORED ADR 2,338 2,133
    SAP AKTIENGESELL ADS 1,774 1,740
    SBA COMMUNICATIONS 5,433 5,779
    SCANNA CORP 1,495 2,178
    SCHWAB U.S. LARGE-CAP GROWTH 46,240 60,438
    SCHWAB US MID CAP 31,967 37,586
    SCHWAB US REIT 21,852 23,586
    SCRIPPS NETWORKS INT 1,585 1,380
    SEMPRA ENERGY COM 2,696 3,196
    SERVICE NOW 3,085 3,982
    SHERWIN-WILLIAMS CO 5,344 5,192
    SKYLARK CO LTD ORD JPY 1,028 1,304
    SLM CORP 1,959 1,832
    SOFTBANK CP UNSP ADR 3,633 2,746
    SOUTHWESTERN ENERGY 1,917 512
    SPDR BARCLAYS CAPITAL INTERNAT 49,258 43,212
    SPDR BARCLAYS SHORT TERM HIGH 13,662 11,406
    SPDR S&P 500 ETF TRUST 277,531 363,501
    STANLEY ELEC CO LTD ORD JPY 2,020 2,221
    STAPLES INC 1,324 1,051
    STARWOOD PROPERTY TRUST INC 2,719 2,159
    STONE RIDGE REINSURANCE RISK P 60,020 60,119
    SUNTORY BEVERAGE & FOOD LTD AD 2,011 2,533
    SWISHER HYGIENE INC 24,180 480
    SYMANTEC CORP 1,901 1,932
    T. ROWE PRICE GROWTH STOCK FUN 27,015 44,764
    T. ROWE PRICE NEW HORIZONS FUN 15,500 18,454
    TARGET CORPORATION 2,389 2,178
    TECHNOPRO HLDGS INC JPY 3,139 2,955
    TELEFONICA DEUTSCHLA 2,038 1,931
    TENCENT HOLDINGS LIMITED 4,272 4,316
    TESORO CORP 894 948
    TEXTRON INC 1,473 1,932
    TJX COMPANIES INC 6,451 7,729
    TOUCHSTONE MID CAP CLASS C 75,000 81,888
    TOYOTA MTR CORP 2,686 4,183
    TRACTOR SUPPLY CO COM 2,913 2,993
    TRIUMPH GROUP INC 1,692 954
    TYSON FOODS INC CL A 1,407 1,973
    UNITED CONTINENTAL HOLDINGS IN 2,501 2,579
    UNITED PARCEL SERVICE 33,049 36,086
    UNITEDHEALTH GROUP INC 28,013 103,288
    URBAN OUTFITTERS, INC 875 865
    USD SCHWAB US AGGREGATE BOND 31,958 31,982
    VANGUARD MSCI EUROPEAN ETF 37,277 34,018
    VANGUARD SHORT-TERM CORPORATE 173,018 170,132
    VANGUARD TOTAL BOND MARKET IND 61,472 60,463
    VENTAS INC 1,761 1,749
    VERISK ANALYTICS, INC 5,164 5,612
    VERIZON COMMUNICATIONS 1,991 2,080
    VIAVI SOLUTIONS INC 1,100 944
    VISA INC 7,117 10,004
    VIVENDI SA 2,042 1,687
    VMWARE INC 2,615 1,923
    VODAFONE GROUP PLC 5,686 3,549
    VORNADO RLTY TR 1,711 1,899
    WALGREENS BOOTS ALLIANCE 4,470 4,087
    WELLS FARGO & CO 6,000 6,795
    WELLS FARGO ADVANTAGE INTL BON 11,478 9,087
    WEX, INC 1,532 1,503
    WEYERHAEUSER CO 32,791 40,503
    WHOLE FOODS MARKET, INC 2,779 2,714
    WILLIAMS SONOMA INC 1,750 1,402
    WOLSELEY PLC ADR 1,855 2,114
    WOLTERS KLUWER S/ADR 3,150 4,155
    XILINX INC 1,300 1,456
    XL GROUP LTD 593 1,685
    ZIONS BANCORP 2,072 2,129
    ZOETIS INC 3,871 3,977

    TY 2015 InvestmentsOtherSchedule2
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALPHAKEYS DISTRESSED OPPORTUNI   67,275 43,557

    TY 2015 OtherExpensesSchedule
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 26,747     26,747
    Bank Charges 434 434    
    K-1 Exp ALPHAKEYS DISTRESSED O 2,234 2,234    
    K-1 Exp KIDRON ADVISORS II, LP 1,703 1,703    
    State or Local Filing Fees 85     85


    TY 2015 OtherIncomeSchedule2
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss ALPHAKEYS DISTRESSED OPPORTUNITIES FU 4,997 4,966  
    K-1 Inc/Loss KIDRON ADVISORS II, LP 1,241 1,241  


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 43,095 43,095    


    TY 2015 TaxesSchedule
    Name:
    The Gerald and Susan Schwalbach Family
     
    Foundation
    EIN:
    20-4822291
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2015 3,500      
    990-PF Extension for 2014 1,230      
    Foreign Tax Paid 391 391