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 07-01-2015 , and ending 06-30-2016
Name of foundation
JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 0634
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MILWAUKEE, WI532010634
A Employer identification number

43-6248269
B Telephone number (see instructions)

(314) 418-2643
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$22,889,709J 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... 589,301 583,003  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 376,371
b Gross sales price for all assets on line 6a 4,118,569
7 Capital gain net income (from Part IV, line 2)... 376,371
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 965,672 959,374  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 181,180 90,590   90,590
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 22,700     22,700
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 29,853 11,384   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 1,738 1,738    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 235,471 103,712 0 113,290
25 Contributions, gifts, grants paid....... 553,838 553,838
26 Total expenses and disbursements. Add lines 24 and 25 789,309 103,712 0 667,128
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 176,363
b Net investment income (if negative, enter -0-) 855,662
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............   163 163
2 Savings and temporary cash investments......... 118,295 1,363,808 1,363,808
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 19,221,624 Click to see attachment20,088,064 21,038,435
c Investments—corporate bonds (attach schedule)....... 450,000 Click to see attachment450,000 320,571
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment109,623 166,732
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) 19,789,919 22,011,658 22,889,709
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........ 19,789,919 22,011,658
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 19,789,919 22,011,658
31 Total liabilities and net assets/fund balances (see instructions). 19,789,919 22,011,658
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
19,789,919
2
Enter amount from Part I, line 27a .....................
2
176,363
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
2,045,376
4
Add lines 1, 2, and 3 ..........................
4
22,011,658
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
22,011,658
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 472. I G A T E CAPITAL CORPORATION   2013-11-27 2015-07-01
b 275. I G A T E CAPITAL CORPORATION   2014-08-29 2015-07-01
c 287. DIRECTV   2014-02-10 2015-07-24
d 855. ATT INC     2015-07-27
e 78. BLACKROCK INC   2011-11-23 2015-07-27
490. COLGATE PALMOLIVE CO   2014-08-29 2015-07-27
366. CULLEN FROST BANKERS INC   2011-11-23 2015-07-27
321. DISCOVER FINL SVCS   2014-08-29 2015-07-27
813. E M C CORP MASS COM   2010-10-27 2015-07-27
440. FIDELITY NATL INFORMATION SVCS INC   2014-08-29 2015-07-27
333. HONEYWELL INTERNATIONAL INC     2015-07-27
596. ITC HOLDINGS CORP   2011-11-23 2015-07-27
662. KINDER MORGAN INC     2015-07-27
451. MARSH MCLENNAN COS INC   2014-08-29 2015-07-27
293. MCCORMICK CO NON VTG SHRS   2011-11-23 2015-07-27
229. NEXTERA ENERGY INC   2011-11-23 2015-07-27
1393. NOVO NORDISK AS A D R     2015-07-27
15930.011 OPPENHEIMER DEVELOPING MARKETS I     2015-07-27
368. PACKAGING CORP AMERICA   2013-11-27 2015-07-27
371. PHILLIPS 66     2015-07-27
204. TIME WARNER CABLE INC   2012-07-31 2015-07-27
286. UNION PAC CORP COM     2015-07-27
465. V F CORP COM W/RTS ATTACHED EXP 01/25/2008   2011-11-23 2015-07-27
172. WHIRLPOOL CORP   2013-05-23 2015-07-27
366. ACCENTURE PLC CL A   2011-11-23 2015-07-27
426. NIELSEN NV   2014-08-29 2015-07-27
.6 HORIZON GLOBAL CORP   2014-02-10 2015-07-29
13800. PUT ON EEM 08/10/15 @ 34.960   2014-08-08 2015-08-10
3100. SPDR S P 500 ETF     2015-08-10
13800. PUT ON EEM 08/10/15 @ 34.960   2014-08-11 2015-08-11
16100. CALL ON EFA 08/07/15 @ 66.810   2014-08-07 2015-08-18
13800. CALL ON EEM 08/10/15 @ 43.700   2014-08-11 2015-08-18
13800. CALL ON EEM 08/10/15 @ 43.700   2014-08-11 2015-08-18
13800. CALL ON EEM 08/10/15 @ 52.660   2014-08-11 2015-08-18
16100. PUT ON EFA 08/07/15 @ 52.400   2014-08-07 2015-08-18
.97 NOBLE ENERGY INC   2013-11-27 2015-08-18
3100. PUT ON SPY 8/12/11 @ 98.56   2014-08-08 2015-08-18
3100. PUT ON SPY 8/12/11 @ 98.56   2014-08-08 2015-08-18
16100. CALL ON EFA 08/07/15 @ 66.810   2014-08-07 2015-08-19
16100. PUT ON EFA 08/07/15 @ 52.400   2014-08-07 2015-08-19
1. SECURITY LITIGATION   1911-11-11 2015-08-19
.4424 ASHFORD HOSPITALITY PRIME IN   2015-07-27 2015-08-20
.004 ATT INC   2014-02-10 2015-09-04
1. SECURITY LITIGATION   1911-11-11 2015-09-09
392. CYBERONICS INC   2011-06-30 2015-10-19
285. STERIS CORP   2014-08-29 2015-11-02
505. AKORN INC   2014-10-09 2015-11-03
509. ARCBEST CORP   2014-10-09 2015-11-03
70. ASHFORD HOSPITALITY PRIME IN   2015-07-27 2015-11-03
1078. BBCN BANCORP INC   2013-11-27 2015-11-03
236. CATERPILLAR INC     2015-11-03
1551. CENTURYLINK INC     2015-11-03
593. CHESAPEAKE LODGING TRUST   2012-07-31 2015-11-03
320. COMMUNITY TR BANCORP INC   2012-07-31 2015-11-03
954. EMERSON ELECTRIC CO     2015-11-03
229. ENANTA PHARMACEUTICALS INC   2014-08-29 2015-11-03
279. FMC TECHNOLOGIES INC COM   2014-08-29 2015-11-03
896. FINISAR CORPORATION     2015-11-03
282. GREENBRIER COS INC   2014-10-09 2015-11-03
980. HALLIBURTON CO     2015-11-03
2139. HEWLETT PACKARD CO     2015-11-03
1448. HONG KONG EXCHANGES A D R   2013-11-27 2015-11-03
295. HORIZON GLOBAL CORP     2015-11-03
855. INTEGRATED SILICON SOLUTION INC   2013-11-27 2015-11-03
513. KAPSTONE PAPER PACKAGING CORP   2012-07-31 2015-11-03
204. KEYSIGHT TECHNOLOGIES INC     2015-11-03
772. LINCOLN NATL CORP IND     2015-11-03
1279. MEDASSETS INC     2015-11-03
216. MOSAIC CO THE   2014-02-10 2015-11-03
567. MYRIAD GENETICS INC     2015-11-03
1043. NRG ENERGY INC     2015-11-03
289. NOBLE ENERGY INC     2015-11-03
3439.49 OPPENHEIMER SENIOR FLOATING RATE I   2014-02-06 2015-11-03
910. PITNEY BOWES INC   2013-11-27 2015-11-03
416. QORVO INC   2014-08-29 2015-11-03
416. QUALCOMM INC     2015-11-03
1262. RPX CORP     2015-11-03
333. RAYTHEON COMPANY   2014-10-09 2015-11-03
189. ROCKWELL AUTOMATION INC     2015-11-03
2768. SCHNEIDER ELECT SE UNSP A D R     2015-11-03
819. STONE ENERGY CORP.   2010-08-26 2015-11-03
992. SWATCH GROUP AG A D R     2015-11-03
530. TAL INTL GROUP INC   2011-11-23 2015-11-03
739. TRIMAS CORP     2015-11-03
493. TRIUMPH GROUP INC     2015-11-03
309. TUPPERWARE BRANDS CORP     2015-11-03
264. UBIQUITI NETWORKS INC   2014-08-29 2015-11-03
382. WESTERN DIGITAL CORP     2015-11-03
392. LIVANOVA PLC   2015-10-19 2015-11-03
664. MYLAN NV     2015-11-03
1. SECURITY LITIGATION   1911-11-11 2015-12-07
2083. B G GROUP P L C A D R     2016-03-02
408. AGILENT TECHNOLOGIES INC     2016-03-21
365. AMERICAN STATES WATER CO   2014-02-10 2016-03-21
510. AMSURG CORP   2014-08-29 2016-03-21
953. CALPINE CORP     2016-03-21
644. EXELON CORPORATION     2016-03-21
2139. HEWLETT PACKARD ENTERPRIS WI     2016-03-21
4475. ICICI BANK LTD A D R     2016-03-21
1059. INTEL CORP   2009-03-06 2016-03-21
973. JARDEN CORP COM     2016-03-21
1147. MENTOR GRAPHICS CORP     2016-03-21
414. MOTOROLA SOLUTIONS INC   2012-07-31 2016-03-21
2280. SLM CORP COM     2016-03-21
389. SEMPRA ENERGY     2016-03-21
542. UNITED TECHNOLOGIES CORP COM     2016-03-21
1893. WABASH NATL CORP COM W/RTS ATTACHED EXP     2016-03-21
830. WILLIAMS COS INC     2016-03-21
1197. XINYI GLASS HOLDINGS LTS A D R   2012-07-31 2016-03-21
39215.686 NUVEEN STRATEGIC INCOME I   2014-02-18 2016-03-22
1908.397 NUVEEN REAL ESTATE SECS I   2015-11-03 2016-03-22
.3536 CALIFORNIA RESOURCES CORP   2013-02-13 2016-04-29
.7 CALIFORNIA RES CORP   2013-02-13 2016-06-09
1084. FIRSTMERIT CORP   2013-05-23 2016-06-13
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 22,656   15,745 6,911
b 13,200   10,098 3,102
c 27,016   20,162 6,854
d 29,420   27,391 2,029
e 26,186   11,919 14,267
32,763   31,703 1,060
25,878   17,439 8,439
17,720   20,063 -2,343
21,097   17,114 3,983
27,316   24,974 2,342
33,822   28,728 5,094
20,104   14,077 6,027
23,296   20,278 3,018
26,162   23,930 2,232
23,391   13,714 9,677
23,671   12,135 11,536
80,195   41,247 38,948
527,602   507,239 20,363
25,480   22,592 2,888
28,541   17,099 11,442
38,393   17,506 20,887
26,415   17,869 8,546
34,094   14,923 19,171
29,393   21,684 7,709
36,702   19,607 17,095
19,082   19,967 -885
7   10 -3
62,504   43,340 19,164
627,514   536,517 90,997
15,576     15,576
    45,894 -45,894
    39,890 -39,890
44,979     44,979
8,410     8,410
    58,613 -58,613
34   91 -57
    32,523 -32,523
11,249     11,249
53,281     53,281
19,310     19,310
140     140
6   7 -1
       
260     260
28,596   11,015 17,581
21,193   16,060 5,133
13,671   18,890 -5,219
13,165   17,585 -4,420
1,050   1,046 4
18,146   17,938 208
17,588   21,004 -3,416
43,812   59,071 -15,259
16,246   9,973 6,273
10,935   10,073 862
47,459   61,061 -13,602
7,292   9,668 -2,376
9,746   17,220 -7,474
10,751   17,951 -7,200
11,515   16,675 -5,160
38,917   52,432 -13,515
29,758   33,601 -3,843
37,169   25,921 11,248
2,658   4,649 -1,991
19,353   9,944 9,409
11,150   4,384 6,766
6,771   5,726 1,045
42,161   38,473 3,688
39,613   24,139 15,474
7,426   10,059 -2,633
23,512   14,120 9,392
14,037   30,045 -16,008
11,378   26,795 -15,417
26,966   28,892 -1,926
19,344   21,230 -1,886
18,796   20,767 -1,971
25,272   22,243 3,029
18,263   19,543 -1,280
39,383   31,993 7,390
20,906   21,757 -851
33,049   44,630 -11,581
5,029   9,351 -4,322
19,076   24,991 -5,915
9,281   7,370 1,911
15,255   19,556 -4,301
23,033   23,542 -509
18,429   10,315 8,114
7,830   12,001 -4,171
25,959   37,630 -11,671
26,111   27,201 -1,090
30,518   38,314 -7,796
28     28
31,645   44,932 -13,287
16,165   15,013 1,152
14,206   10,001 4,205
36,132   27,354 8,778
13,899   20,365 -6,466
22,431   20,176 2,255
37,795   36,934 861
31,155   44,568 -13,413
34,131   12,983 21,148
56,097   23,593 32,504
22,551   24,431 -1,880
30,209   20,084 10,125
14,774   17,996 -3,222
40,037   39,137 900
53,755   30,273 23,482
24,500   20,619 3,881
14,301   40,980 -26,679
15,237   12,329 2,908
400,392   441,961 -41,569
44,618   45,897 -1,279
1   1  
12   10 2
23,366   19,629 3,737
      120,699
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       6,911
b       3,102
c       6,854
d       2,029
e       14,267
      1,060
      8,439
      -2,343
      3,983
      2,342
      5,094
      6,027
      3,018
      2,232
      9,677
      11,536
      38,948
      20,363
      2,888
      11,442
      20,887
      8,546
      19,171
      7,709
      17,095
      -885
      -3
      19,164
      90,997
      15,576
      -45,894
      -39,890
      44,979
      8,410
      -58,613
      -57
      -32,523
      11,249
      53,281
      19,310
      140
      -1
       
      260
      17,581
      5,133
      -5,219
      -4,420
      4
      208
      -3,416
      -15,259
      6,273
      862
      -13,602
      -2,376
      -7,474
      -7,200
      -5,160
      -13,515
      -3,843
      11,248
      -1,991
      9,409
      6,766
      1,045
      3,688
      15,474
      -2,633
      9,392
      -16,008
      -15,417
      -1,926
      -1,886
      -1,971
      3,029
      -1,280
      7,390
      -851
      -11,581
      -4,322
      -5,915
      1,911
      -4,301
      -509
      8,114
      -4,171
      -11,671
      -1,090
      -7,796
      28
      -13,287
      1,152
      4,205
      8,778
      -6,466
      2,255
      861
      -13,413
      21,148
      32,504
      -1,880
      10,125
      -3,222
      900
      23,482
      3,881
      -26,679
      2,908
      -41,569
      -1,279
       
      2
      3,737
       
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 2 376,371
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 958,500 22,467,475 0.042662
2013 874,190 21,961,647 0.039805
2012 964,319 20,751,774 0.046469
2011 1,007,609 19,817,719 0.050844
2010 791,602 20,607,424 0.038413
2
Total of line 1, column (d) .....................
20.218193
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
0.043639
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
20,430,275
5
Multiply line 4 by line 3......................
5
891,557
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
8,557
7
Add lines 5 and 6........................
7
900,114
8
Enter qualifying distributions from Part XII, line 4.............
8
667,128
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 17,113
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 17,113
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 17,113
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 18,944
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 18,944
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,831
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,831 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMO
    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 ofbulletUS BANK NA Telephone no.bullet (314) 418-2643

    Located atbulletPO BOX 387ST LOUISMO ZIP+4bullet63166
    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
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........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
    US BANK NA TRUSTEE
    1     		175,180    
    PO BOX 387
    ST LOUIS,MO63166
    ANNE GOLTERMAN AWARDS COMMITTEE MEMBER
    1     		2,000    
    10619 FOREST LAWN COURT
    ST LOUIS,MO63128
    CRAIG HANNICK AWARDS COMMITTEE MEMBER
    1     		2,000    
    1140 S ROCK HILL ROAD
    WEBSTER GROVES,MO63119
    DON HUGO AWARDS COMMITTEE MEMBER
    1     		2,000    
    2 RIVER TRAIL DRIVE
    ST CHARLES,MO63303
    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
    NONE
    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.........................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
    19,624,213
    b
    Average of monthly cash balances.......................
    1b
    1,117,183
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    20,741,396
    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
    20,741,396
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    311,121
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    20,430,275
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,021,514
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,021,514
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    17,113
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    17,113
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,004,401
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,004,401
    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
    1,004,401
    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
    667,128
    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
    667,128
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    667,128
    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 1,004,401
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 201,817
    b Total for prior years:2013, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 0
    b From 2011...... 0
    c From 2012...... 0
    d From 2013...... 0
    e From 2014...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 667,128
    a Applied to 2014, but not more than line 2a 201,817
    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..... 465,311
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		539,090
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011.... 0
    b Excess from 2012.... 0
    c Excess from 2013.... 0
    d Excess from 2014.... 0
    e Excess from 2015.... 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    SCHOLARSHIP MANAGEMENT SERVICES
    PO BOX 297
    ST PETER,MN56082
    (507) 931-1682
    bThe form in which applications should be submitted and information and materials they should include:
    CONTACT THE ABOVE
    cAny submission deadlines:
    CONTACT THE ABOVE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    CONTACT THE ABOVE
    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
    SCHOLARSHIP AMERICA
    C/O FIRST NATIONAL BANK MINNESOTA
    PO BOX 240
    ST PETER,MN56082     		NONE PC GENERAL OPERATING 553,838
    Total .................................bullet 3a 553,838
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 589,301  
    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 ............     		    18 376,371  
    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)..   965,672  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13965,672
    (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 InvestmentsCorpBondsSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BARCLAYS BK PLC MTN 09/30/16 450,000 320,571

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Name of Stock End of Year Book Value End of Year Fair Market Value
    UNITED TECHNOLOGIES CORP    
    SCHLUMBERGER LTD 50,467 62,315
    WELLS FARGO & CO 66,129 106,114
    COAST DIVIERSIFIED FUND II LTD 40,094 13,913
    EATON CORP 16,140 19,532
    GENERAL ELEC CORP 39,670 62,236
    OCCIDENTAL PETE CORP 30,973 30,148
    NESTLE SPONS ADR 52,116 69,192
    PFIZER INC 128,491 185,874
    ROCHE HLDG LTD SPONS ADR 32,695 53,676
    ACE LTD    
    DBS GROUP HLDGS LTD 22,643 27,319
    AMERICAN TOWER CORP 14,997 32,379
    ACCENTURE LTD    
    INTEL CORP    
    MICROSOFT CORP 89,071 147,472
    QUALCOMM INC    
    APPLE INC 108,942 139,098
    JP MORGAN CHASE & CO 47,477 126,766
    J2 GLOBAL COMMUNICATIONS INC 12,960 28,427
    TUPPERWARE BRANDS CORP    
    ATLAS COPCO AB ADR 30,369 30,484
    BEST BUY CO INC 20,007 20,227
    BLACKROCK INC    
    BRANDYWINE REALTY TRUST 15,711 24,175
    ENERSYS 10,228 28,248
    MTN GROUP LTD ADR 35,259 15,847
    UNILEVER PLC SPSD ADR 16,232 26,973
    AMTRUST FINANCIAL SERVICES    
    ANADARKO PETRO CORP 63,155 37,541
    CATERPILLAR INC    
    CINEMARK HLDGS INC 6,975 17,173
    CITIGROUP INC 83,688 76,556
    DIRECTV    
    MCKESSON CORP 57,812 60,101
    TEXAS ROADHOUSE INC 11,629 34,702
    AMERICAN EQUITY INVT LIFE HI 8,664 10,488
    ASHFORD HOSPITALITY TR INC 10,518 9,242
    BOEING CO 34,587 49,091
    CAPITAL ONE FINANCIAL CORP 21,675 19,371
    CARDTRONICS INC 10,128 22,453
    CYBERONICS INC    
    EMC CORP    
    ENTEGRIS INC 14,566 27,696
    FIFTH THIRD BANCORP 47,898 41,354
    FINISAR CORP    
    FOOT LOCKER INC 26,950 32,093
    JARDEN CORP    
    KAPSTONE PAPER & PACKAGING COR    
    LAKELAND FINANCIAL CORP 10,391 25,385
    LITTELFUSE INC 10,172 32,620
    MACYS INC 52,363 38,114
    MASTERCARD INC 31,862 53,188
    MAXIMUS INC 15,524 34,938
    POLARIS INDS INC 30,311 20,195
    PRUDENTIAL FINANCIAL INC 59,223 54,218
    STONE ENERGY CORP    
    SYNMEX CORP 32,560 82,285
    TAL INTL GROUP INC    
    TENNECO AUTOMOTIVE INC 13,126 23,818
    TRIUMPH GROUP INC    
    UNITED HEALTH GROUP INC 64,682 137,670
    WESTBANCO INC 9,597 16,488
    WHIRLPOOL CORP    
    AIR LIQUIDE SA ADR 50,723 45,824
    ALLIANZ SE ADR 44,040 48,701
    ARM HLDGS ADR 26,060 41,687
    BG GROUP PL ADR    
    BUNGE LIMITED 32,882 25,494
    CANADIAN NATL RY CO 26,460 39,334
    CSI LIMITED ADR 20,625 46,973
    DASSAULT SYSTEMES SA ADR 44,474 73,520
    FANUC LTD 52,865 50,749
    FRESENIUS MEDICAL CARE 32,424 38,734
    ICICI BANK LIMITED ADR    
    ITAU UNIBANCO HOLDINGS SA ADR 49,291 37,279
    JGC CORP ADR 49,809 20,199
    LOREAL CO ADR 38,287 54,312
    NOVO NORDISK AS ADR    
    SAP AG ADR 43,876 53,789
    SASOL LTD ADR 20,817 11,173
    SCHNEIDER ELECTSA    
    SONOVA HOLDINGS ADR 16,079 21,842
    SWATCH GROUP AG    
    TAIWAN SEMICONDUCTOR ADR 59,076 87,844
    TESCO PLC ADR    
    TURKIYE GARANTI BANKASI AS ADR 33,871 19,011
    UNICHARM CORP ADR 30,069 46,380
    WPP PLC ADR 35,038 58,949
    ISHARES MSCI EMERGING MKTS ETF 1,441,333 1,152,744
    NUVEEN REAL ESTATE SECURIT CL 689,008 1,204,486
    OPPENHEIMER DEVELOPING MKTS FD    
    ATT INC 18,837 23,463
    NUVEEN STRATEGIC INC I 1,942,801 2,051,564
    CHEVRON CORP 57,287 63,003
    CULLEN FROST BANKERS INC    
    DOW CHEM CO 50,855 63,679
    EMERSON ELEC CO    
    HALLIBURTON CO    
    HONEYWELL INTERNATIONAL INC    
    ITC HLDGS CORP    
    MCCORMICK CO INC    
    NEXTERA ENERGY INC    
    PHILLIPS 66    
    PIONEER NAT RES CO 46,649 37,198
    PROCTER & GAMBLE CO 36,509 46,145
    TIME WARNER CABLE INC    
    UNION PACIFIC CORP    
    V F CORP    
    INGERSOLL RAND PLC 10,006 10,698
    LOOMIS SAYLES STR ALPHA FD Y 653,255 634,316
    ABBVIE INC 51,598 75,221
    AGILENT TECHNOLOGIES INC    
    ALERE INC    
    AMERICAN AXLE & MFG HLDGS INC 16,527 21,416
    AMERICAN STATES WATER CO    
    AZZ INCORPORATED 16,877 26,451
    BANK OF AMERICA 43,293 35,763
    CA INC 52,132 60,407
    CHEMICAL FINANCIAL CORP 10,172 16,631
    CHESAPEAKE LODGING TRUST    
    CNO FINANCIAL GROUP 19,101 24,095
    COMMUNITY TR BANCORP INC    
    CVS CAREMARK CORP 75,169 87,028
    ELECTRONICS FOR IMAGING INC 21,262 28,191
    FIRSTMERIT CORP 19,629 21,973
    GILEAD SCIENCES INC 10,456 31,700
    GRAPHIC PACKAGING HLDG CO 12,085 20,315
    HILLTOP HOLDINGS INC 22,148 21,536
    ILLINOIS TOOL WORKSINC 19,954 26,561
    KINDER MORGAN INC    
    LITHIA MOTORS INC CL A 7,470 18,976
    LOWES CO INC 43,607 86,612
    MEDASSETS INC    
    MERCK AND CO INC 35,785 36,755
    MICROSEMI CORP 19,817 30,066
    MORGAN STANLEY 20,089 19,771
    MOSAIC CO    
    MOTOROLA SOLUTIONS INC    
    MYRIAD GENETICS    
    NRG ENERGY INC    
    ORBITAL SCIENCES CORP 10,930 26,819
    PENNYMAC MTG INV TR 21,944 14,607
    PRIMORIS SERVICES CORP 11,933 17,586
    RPX CORP    
    SINCLAIR BROADCAST GROUP INC A 12,875 26,993
    STAPLES INC 24,586 16,025
    SWIFT TRANSPORTATION CO 12,235 13,669
    THOR INDUSTRIES INC 23,073 32,758
    WABASH NATL CORP    
    AIA GROUP LTD 39,864 60,042
    BANCO BILBAO VIZCAYA ARGEN ADR 35,496 17,501
    BAYERISCHE MOTOREN WERKE 45,235 28,908
    SVENSKA HANDELSBANKEN 14,522 13,097
    XINYI GLASS HOLDINGS LTS ADR    
    SPDR S&P 500 ETF TRUST 1,148,925 1,298,745
    OPPENHEIMER SR FLOATING RATE I 617,276 570,359
    AMN HEALTHCARE SVCS INC 9,778 27,339
    AMERIPRISE FINL INC 57,571 45,015
    BBCN BANCORP INC    
    BOISE CASADE CO 25,118 19,301
    BOSTON PPTYS INC 10,069 12,135
    CMS ENERGY CORP    
    CALPINE CORP    
    CENTURYLINK INC    
    EOG RES INC 23,120 22,190
    EMERGENT BIOSOLUTIONS INC 11,730 13,723
    EXELON CORPORATION    
    GENERAL MILLS INC 28,582 42,293
    GRAND CANYON EDUCATIONS 28,385 25,708
    HEWLETT PACKARD CO    
    IGATE CAPITAL CORP    
    INTERGRATED SILICON SOLUTIONS    
    KORN FERRY INTL 14,645 13,559
    LA Z BOY INC 30,094 34,024
    LINCOLN NATL CORP IND    
    MADDEN STEVEN LTD 23,137 20,371
    MEDTRONICS INC 97,267 109,677
    MENTOR GRAPHICS CORP    
    MOHAWK INDS INC 35,647 49,717
    PNC FINANCIAL SERV GROUP 37,623 37,521
    PPG INDS INC 46,382 50,409
    PACKAGING CORP AMERICA    
    PITNEY BOWES INC    
    REPUBLIC SVCS INC 9,954 15,393
    ROCKWELL AUTOMATION INC    
    ROSETTA RESOURCES INC    
    SEMPRA ENERGY    
    SLM CORP    
    TRIMAS CORP    
    UNUM GROUP 20,026 19,328
    VCA INC 17,459 39,281
    WESTERN ALLIANCE BANC 26,069 36,895
    WILLIAMS COS INC    
    WILSHIRE BANCORP INC 14,165 14,755
    WINTRUST FINL CORP 22,026 24,786
    BAIDU COM INC ADR 19,852 20,148
    INVESTCO LTD 22,807 15,809
    MITSUBISHI ESTATE LTD ADR 23,338 15,306
    MONOTARA CO LTD UNSP ADR 13,172 43,285
    HONG KONG EXCHANGES ADR    
    ROCECO BOSTON PARTNERS LS 663,790 675,761
    TFS MARKET NEUTRAL FUND 685,000 590,755
    AQR MANAGED FUTURES STR I 124,464 125,398
    ACADIA HEALTHCARE CO INC 10,042 10,803
    AKORN INC COM    
    ALLERGAN PLC 29,591 22,416
    AMSURG CORP    
    ARCBEST CORP    
    ARRIS GROUP INC 18,813 12,890
    BARON EMERGIN MARKETS INST 525,000 488,748
    BRUNSWICK CORP 29,429 31,090
    CAUSEWAY EMERGING MARKETS INST 532,000 442,293
    COLGATE PALMOLIVE CO    
    COLUMBIA INCOME FD CL Z 1,152,000 1,170,013
    DEPOMED INC 11,315 14,558
    DISCOVER FINL SVCS    
    DUPONT FABROS TECH 10,007 16,972
    E TRADE FINANCIAL CORP 40,221 43,316
    EATON VANCE GLOBAL MACRO 604,905 595,073
    ELECTORNIC ARTS INC 38,007 78,563
    ENANTA PHARMACEUTICALS INC    
    EURONET WORLDWIDE INC 18,462 24,147
    FEDERATED INST HI YLD BD FD 1,141,400 1,093,602
    FIDELITY NATL INFORMTATION SVC    
    FMC TECHNOLOGIES INC    
    FUCHS PETROLUB SE PREF ADR 10,119 9,506
    GREENBRIER COS INC    
    HORACE MANN EDUCATORS CORP 10,040 11,353
    ISHARES MSCI EAFE ETF 2,110,394 1,797,404
    KEYSIGHT TECH INC    
    KITE REALTY GROUP TRUST 10,018 10,848
    MARSH MCLENNAN COS INC    
    MYLAN NV    
    NIELSEN NV    
    PGE CORP 19,509 26,910
    PLANTRONICS INC 21,514 20,768
    PRINCIPAL GL R E SEC INS 487,500 523,699
    QORVO INC    
    RADIAN GROUP INC 19,451 13,911
    RAYTHEON COMPANY    
    RYMAN HOSPITALITY PROPERTIES 21,097 21,526
    SIGNET JEWELERS LTD 31,405 22,003
    STERIS CORP 21,193 19,594
    SUMMIT HOTEL PROPERTIES INC 19,120 22,826
    SYNAPTICS INC 24,189 15,910
    T ROWE PRICE INTL BOND FUND 335,000 327,143
    TCW EMERGING MARKETS INCOME FD 335,000 320,041
    TRUEBLUE INC 16,816 12,676
    UBIQUITI NETWORKS INC    
    VANGUARD MID CAP INDEX ADM 460,000 473,799
    WESTERN DIGITAL CORP    
    ZIMMER BIOMET HOLDINGS INC 35,139 41,290
    CALL ON EFA 08/07/15 @ 66.810    
    CALL ON EFA 08/07/15 @ 65.500    
    CALL ON EEM 08/10/15 @ 44.790    
    CALL ON EEM 08/10/15 @ 43.700    
    CALL ON EEM 08/10/15 @ 52.660    
    PUT ON EFA 08/07/15 @ 62.230    
    PUT ON EFA 08/07/15 @ 52.400    
    PUT ON EEM 08/10/15 @ 41.520    
    PUT ON EEM 08/10/15 @ 34.960    
    CALL ON SPY 08/10/15 @ 197.510    
    CALL ON SPY 08/10/15 @ 191.940    
    PUT ON SPY 08/10/15 @ 182.340    
    PUT ON SPY 08/10/15 @ 153.550    

    TY 2015 InvestmentsOtherSchedule2
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    C M S ENERGY CORP AT COST 33,066 51,409
    CALIFORNIA RES CORP AT COST 41 37
    CHUBB LTD AT COST 76,516 115,286

    TY 2015 OtherExpensesSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    WIRE FEE 20 20   0
    REDEMPTION FEE FOR STRUCTURED 75 75   0
    INVESTMENT FEES 1,643 1,643   0


    TY 2015 OtherIncreasesSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Description Amount
    COST BASIS ADJ OF FORMER RBC ASSETS 2,045,376


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SCHOLARSHIP AMERICA, INC 22,700     22,700


    TY 2015 TaxesSchedule
    Name:
    JAMES L & NELLIE WESTLAKE SFUND-UMA JAMES L
    EIN:
    43-6248269
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ESTIMATED TAX PAYMENTS 18,469 0   0
    FOREIGN TAXES PAID 11,384 11,384   0