Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
THE AARON STRAUS & LILLIE STRAUS
FOUNDATION INC
Number and street (or P.O. box number if mail is not delivered to street address)2 EAST READ STREET NO 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21202
A Employer identification number

52-2040073
B Telephone number (see instructions)

(410) 539-8308
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$64,672,465J 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... 1,459,742 1,459,742  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,044,876
b Gross sales price for all assets on line 6a 8,871,916
7 Capital gain net income (from Part IV, line 2)... 4,044,876
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 -107,626 0  
12 Total. Add lines 1 through 11........ 5,396,992 5,504,618  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 327,141 58,885   268,256
14 Other employee salaries and wages...... 35,595 0   35,595
15 Pension plans, employee benefits....... 91,015 14,316   76,699
16a Legal fees (attach schedule)......... Click to see attachment 1,110 222   888
b Accounting fees (attach schedule)....... Click to see attachment 29,077 5,815   23,262
c Other professional fees (attach schedule).... Click to see attachment 599,256 566,702   32,554
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 88,660 44,952   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,315 0  
20 Occupancy.............. 28,400 0   28,400
21 Travel, conferences, and meetings....... 2,886 0   2,886
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 25,671 0   25,661
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,232,126 690,892   494,201
25 Contributions, gifts, grants paid....... 2,962,244 3,201,244
26 Total expenses and disbursements. Add lines 24 and 25 4,194,370 690,892   3,695,445
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,202,622
b Net investment income (if negative, enter -0-) 4,813,726
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......... 918,941 1,234,652 1,234,652
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.......... 16,703 21,604 21,604
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 4,958,327 Click to see attachment4,449,059 4,449,059
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).......... 62,881,053 Click to see attachment57,823,546 57,823,546
14 Land, buildings, and equipment: basis bullet41,585
Less: accumulated depreciation (attach schedule) bullet39,224 750 Click to see attachment2,361 2,361
15 Other assets (describe bullet) Click to see attachment1,110,519 Click to see attachment1,141,243 Click to see attachment1,141,243
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 69,886,293 64,672,465 64,672,465
Liabilities 17 Accounts payable and accrued expenses.......... 56,192 58,619
18 Grants payable.................. 679,000 445,000
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)......... 735,192 503,619
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 69,151,101 64,168,846
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    
30 Total net assets or fund balances (see instructions)..... 69,151,101 64,168,846
31 Total liabilities and net assets/fund balances (see instructions). 69,886,293 64,672,465
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
69,151,101
2
Enter amount from Part I, line 27a .....................
2
1,202,622
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
70,353,723
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
6,184,877
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
64,168,846
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 ADAGE CAPITAL PARTNERS LP PASS-THROUGH P    
b ADAGE CAPITAL PARTNERS LP PASS-THROUGH P    
c BRANDYWINE INVESTMENT TRUST PASS-THROUGH P    
d BRANDYWINE INVESTMENT TRUST PASS-THROUGH P    
e CITI HICKS MUSE PARTNERS LP PASS-THROUGH P    
CITI HICKS MUSE PARTNERS LP PASS-THROUGH P    
HIGHFIELDS CAPITAL IV LP PASS-THROUGH P    
HIGHFIELDS CAPITAL IV LP PASS-THROUGH P    
CITI MASTERS OFFSHORE FUND P    
QUESTMARK PARTNERS, LP P    
PUBLICLY TRADED SECURITIES - SCHWAB #4267      
PUBLICLY TRADED SECURITIES - SCHWAB #4267      
THE SILCHESTER INT'L INVESTORS PASS-THROUGH P    
THE SILCHESTER INT'L INVESTORS PASS-THROUGH P    
SILVER CREEK P    
PUBLICLY TRADED SECURITIES - SCHWAB #4729      
PUBLICLY TRADED SECURITIES - SCHWAB #4729      
PUBLICLY TRADED SECURITIES - ALL BLUE      
SOMERSET P    
SOMERSET P    
PUBLICLY TRADED SECURITIES - WELLS FARGO 457(B) PLAN      
PUBLICLY TRADED SECURITIES - WELLS FARGO 457(B) PLAN      
JOHCM INT'L SELECT FUND PASS-THROUGH P    
JOHCM INT'L SELECT FUND PASS-THROUGH 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       402,489
b       1,722,187
c       -216
d       12,488
e       30
      -2,963
      -1,782
      -39,235
      30,140
      -11,391
909,070   939,597 -30,527
1,240,885   646,358 594,527
      14,388
      550,578
16,541   10,461 6,080
627,277   632,926 -5,649
3,212,825   3,147,349 65,476
2,782,676   2,500,000 282,676
      -31,344
      3,225
76,556   80,350 -3,794
6,086   7,307 -1,221
      -150,757
      639,471
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       402,489
b       1,722,187
c       -216
d       12,488
e       30
      -2,963
      -1,782
      -39,235
      30,140
      -11,391
      -30,527
      594,527
      14,388
      550,578
      6,080
      -5,649
      65,476
      282,676
      -31,344
      3,225
      -3,794
      -1,221
      -150,757
      639,471
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 4,044,876
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 3,671,722 68,772,710 0.053389
2013 3,373,390 64,386,979 0.052392
2012 3,217,012 60,651,905 0.053041
2011 2,775,441 60,669,552 0.045747
2010 2,846,074 60,308,125 0.047192
2
Total of line 1, column (d) .....................
20.251761
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
0.050352
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
67,497,681
5
Multiply line 4 by line 3......................
5
3,398,643
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
48,137
7
Add lines 5 and 6........................
7
3,446,780
8
Enter qualifying distributions from Part XII, line 4.............
8
3,695,445
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 48,137
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 48,137
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 48,137
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 90,000
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 12,500
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 102,500
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 54,363
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet23,200 RefundedBullet 11 31,163
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMD
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.STRAUSFOUNDATION.ORG
    14
    The books are in care ofbulletJAN RIVITZ Telephone no.bullet (410) 539-8308

    Located atbullet2 EAST READ STREETBALTIMOREMD ZIP+4bullet21202
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    SUSAN LEVITON DIRECTOR
    0.50     		0 0 0
    500 WEST BALTIMORE STREET
    BALTIMORE,MD21201
    JAN C RIVITZ PRESIDENT/TREASURER
    40.00     		327,141 66,302 0
    2 EAST READ STREET
    BALTIMORE,MD21202
    TERRY UNDERBERG SECRETARY
    0.50     		0 0 0
    136 EAST 56TH STREET
    NEW YORK,NY10022
    STEPHEN H ABRAHAM DIRECTOR
    0.50     		0 0 0
    1758 PARK ROAD NW
    WASHINGTON,DC200102105
    SAMUEL HIMMELRICH DIRECTOR
    0.50     		0 0 0
    3600 CLIPPER MILL ROAD
    BALTIMORE,MD212111934
    LEE E COPLAN VICE PRESIDENT
    0.50     		0 0 0
    750 EAST PRATT STREET
    BALTIMORE,MD21202
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    CAMBRIDGE ASSOCIATES INVESTMENT ADVISER 104,530
    125 HIGH STREET
    BOSTON,MA02110
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    22,715,941
    b
    Average of monthly cash balances.......................
    1b
    2,150,575
    c
    Fair market value of all other assets (see instructions)................
    1c
    43,659,048
    d
    Total (add lines 1a, b, and c).........................
    1d
    68,525,564
    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
    68,525,564
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,027,883
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    67,497,681
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,374,884
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    3,374,884
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    48,137
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    48,137
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,326,747
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,326,747
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,326,747
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    3,695,445
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    3,695,445
    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
    48,137
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,647,308
    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 3,326,747
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012...... 235,320
    d From 2013...... 262,715
    e From 2014...... 330,502
    fTotal of lines 3a through e........ 828,537
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 3,695,445
    a Applied to 2014, but not more than line 2a 0
    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..... 3,326,747
    e Remaining amount distributed out of corpus 368,698
    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 1,197,235
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		1,197,235
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012.... 235,320
    c Excess from 2013.... 262,715
    d Excess from 2014.... 330,502
    e Excess from 2015.... 368,698
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JAN RIVITZ
    2 EAST READ STREET SUITE 100
    BALTIMORE,MD21202
    (410) 539-8308
    bThe form in which applications should be submitted and information and materials they should include:
    COMMON GRANT APPLICATION FORM (ABAG FORM)
    cAny submission deadlines:
    APPLICATIONS ARE ACCEPTED YEAR-ROUND
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO GRANTS TO ENDOWMENTS OR INDIVIDUALS
    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
    ACLU FOUNDATION OF MARYLAND
    3600 CLIPPER MILL ROAD SUITE 350
    BALTIMORE,MD21211     		N/A PC ALL GENERAL SUPPORT 150,000
    ADVOCATES FOR CHILDREN AND YOUTH
    ONE NORTH CHARLES STREET SUITE 2400
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 33,000
    ANACOSTIA WATERSHED SOCIETY
    4302 BALTIMORE AVE
    BLADENSBURG,MD20710     		N/A PC ALL GENERAL SUPPORT 150
    ASPEN INSTITUTE
    1 DUPONT CIRCLE NW SUITE 700
    WASHINGTON,DC20036     		N/A PC ALL GENERAL SUPPORT 50,000
    ASSOCIATION OF BALTIMORE AREA GRANTMAKERS
    2 E READ STREET 2ND FLOOR
    BALTIMORE,MD21202     		N/A PC ALL GENERAL SUPPORT 6,500
    BALTIMORE CASH CAMPAIGN
    217 E REDWOOD STREET SUITE 1500
    BALTIMORE,MD21202     		N/A PC ALL GENERAL SUPPORT 50,000
    BALTIMORE CHESAPEAKE BAY OUTWARD BOUND
    1900 EAGLE DRIVE
    BALTIMORE,MD21207     		N/A PC ALL GENERAL SUPPORT 100
    BALTIMORE CITY COLLEGE LIBRARY CAMPAIGN
    800 N CHARLES STREET SUITE 400
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 10,000
    BALTIMORE CITY HEALTH DEPARTMENT
    1001 E FAYETTE STREET
    BALTIMORE,MD21202     		N/A PC ALL GENERAL SUPPORT 150,000
    BALTIMORE CORPS
    34 E 25TH STREET
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 84,000
    BALTIMORE EDUCATION RESEARCH CONSORTIUM
    2701 N CHARLES STREET SUITE 300
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 32,500
    BALTIMORE MUSEUM OF ART
    10 ART MUSEUM DRIVE
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 5,000
    BALTIMORE SCHOOL FOR THE ARTS FOUNDATION
    712 CATHEDRAL STREET
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 21,000
    BALTIMORES PROMISE
    VILLAGE SQUARE 1 SUITE 177 5100
    FALLS ROAD
    BALTIMORE,MD21210     		N/A PC ALL GENERAL SUPPORT 50,000
    BEHAVIORAL HEALTH SYSTEM BALTIMORE - EXPANDED SCHOOL BASED MENTAL HEALTH
    ONE NORTH CHARLES STREET SUITE 1300
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 75,000
    CALVERT FOUNDATION
    7315 WISCONSIN AVENUE SUITE 1000W
    BETHESDA,MD20814     		N/A PC ALL GENERAL SUPPORT 100,000
    CAMP AIRY AND CAMP LOUISE FOUNDATION INC
    5750 PARK HEIGHTS AVENUE
    BALTIMORE,MD21215     		N/A PC ALL GENERAL SUPPORT 750,000
    CENTER FOR GLOBAL EDUCATION INITIATIVES
    UNIVERSITY OF MARYLAND 620 W
    LEXINGTON STREET
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 10,000
    CENTRAL SCHOLARSHIP
    6 PARK CENTER COURT SUITE 211
    OWINGS MILLS,MD21117     		N/A PC ALL GENERAL SUPPORT 100,000
    CENTRAL SYNAGOGUE
    652 LEXINGTON AVENUE
    NEW YORK,NY10022     		N/A PC ALL GENERAL SUPPORT 1,500
    CHANA
    101 WEST MOUNT ROYAL AVENUE
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 25,000
    CHESAPEAKE BAY FOUNDATION
    6 HERNDON AVENUE
    ANNAPOLIS,MD21403     		N/A PC ALL GENERAL SUPPORT 1,000
    CIVIC WORKS INC
    2701 ST LO DRIVE
    BALTIMORE,MD21213     		N/A PC ALL GENERAL SUPPORT 20,000
    DEFENDERS OF WILDLIFE
    PO BOX 1553
    MERRIFIELD,VA221161553     		N/A PC ALL GENERAL SUPPORT 1,000
    DIGITAL HARBOR FOUNDATION
    1045 LIGHT STREET
    BALTIMORE,MD21230     		N/A PC ALL GENERAL SUPPORT 35,000
    FAMILY LEAGUE OF BALTIMORE
    2305 N CHARLES STREET SUITE 200
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 40,000
    FH FOUNDATION
    1515 HOPE STREET SUITE 204
    SOUTH PASADENA,CA91030     		N/A PC ALL GENERAL SUPPORT 1,000
    FONZ
    PO BOX 37012 MRC 5516
    WASHINGTON,DC200137012     		N/A PC ALL GENERAL SUPPORT 250
    FOUNDATION OF THE NATIONAL LIPID ASSOCIATION
    6816 SOUTHPOINT PARKWAY SUITE 1000
    JACKSONVILLE,FL32216     		N/A PC ALL GENERAL SUPPORT 2,000
    FREESTATE LEGAL PROJECT INC
    1111 NORTH CHARLES STREET FOURTH
    FLOOR
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 29,000
    FUND FOR EDUCATIONAL EXCELLENCE
    800 N CHARLES STREET SUITE 400
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 35,000
    GIRL SCOUTS OF CENTRAL MARYLAND
    4806 SETON DRIVE
    BALTIMORE,MD21215     		N/A PC ALL GENERAL SUPPORT 12,000
    GREATER BALTIMORE CULTURAL ALLIANCE
    1800 N CHARLES STREET SUITE 810
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 25,000
    GREEN STREET ACADEMY FOUNDATION
    201 NORTH BEND ROAD
    BALTIMORE,MD21229     		N/A PC ALL GENERAL SUPPORT 6,500
    HOLISTIC LIFE FOUNDATION INC
    2601 N HOWARD STREET - SUITE 140
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 25,000
    HORACE MANN SCHOOL
    231 WEST 246TH STREET
    BRONX,NY10471     		N/A PC ALL GENERAL SUPPORT 4,000
    IMPACT HUB BALTIMORE
    34 E 25TH STREET
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 16,000
    JEWISH NATIONAL FUND
    78 RANDALL AVENUE
    ROCKVILLE CENTRE,NY11570     		N/A PC ALL GENERAL SUPPORT 500
    JOHNS HOPKINS BAYVIEW MEDICAL CENTER
    MASON F LORD BUILDING CENTER TOWER
    SUITE 4200 5200 EASTERN AVENUE
    BALTIMORE,MD21224     		N/A PC ALL GENERAL SUPPORT 75,000
    JOHNS HOPKINS PROJECT RESTORE
    3910 KESWICK ROAD N2100
    BALTIMORE,MD21211     		N/A PC ALL GENERAL SUPPORT 2,500
    JOHNS HOPKINS UNIVERSITY-CENTRO SOL
    5200 EASTERN AVE SUITE 4200
    BALTIMORE,MD21224     		N/A PC ALL GENERAL SUPPORT 102,844
    KIPP BALTIMORE
    4701 GREENSPRING AVENUE
    BALTIMORE,MD21209     		N/A PC ALL GENERAL SUPPORT 10,000
    KRIPALU CENTER FOR YOGA AND HEALTH
    PO BOX 309
    STOCKBRIDGE,MA01262     		N/A PC ALL GENERAL SUPPORT 2,000
    LANDON SCHOOL
    6101 WILSON LANE
    BETHESDA,MD20817     		N/A PC ALL GENERAL SUPPORT 750
    LEAVE NO TRACE
    PO BOX 997
    BOULDER,CO80306     		N/A PC ALL GENERAL SUPPORT 250
    LIFEBRIDGE HEALTH
    2401 WEST BELVEDERE AVENUE
    BALTIMORE,MD21215     		N/A PC ALL GENERAL SUPPORT 20,000
    MERIT
    733 N BROADWAY SUITE 137
    BALTIMORE,MD21205     		N/A PC ALL GENERAL SUPPORT 30,000
    METRO ATLANTA RECOVERY RESIDENCES INC
    PO BOX 48349
    DORAVILLE,GA30362     		N/A PC ALL GENERAL SUPPORT 4,500
    MULTICULTURAL CAREER INTERN PROGRAM (MCIP)
    3101 16TH STREET NW
    WASHINGTON,DC20010     		N/A PC ALL GENERAL SUPPORT 150
    NATIONAL OUTDOOR LEADERSHIP SCHOOL
    284 LINCOLN STREET
    LANDER,WY825202848     		N/A PC ALL GENERAL SUPPORT 300
    NATIONAL RESOURCES DEFENSE COUNCIL
    40 W 20TH ST
    NEW YORK,NY10011     		N/A PC ALL GENERAL SUPPORT 5,000
    NYU CENTER FOR THE PREVENTION OF CARDIOVASCULAR DISEASE
    530 FIRST AVENUE SKIRBALL 9U
    NEW YORK,NY10016     		N/A PC ALL GENERAL SUPPORT 2,500
    OPEN SOCIETY INSTITUTE - BALTIMORE
    201 NORTH CHARLES STREET SUITE 1300
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 2,500
    PACT
    7000 TUDSBURY RD
    BALTIMORE,MD21244     		N/A PC ALL GENERAL SUPPORT 2,500
    PARK SCHOOL OF BALTIMORE
    2425 OLD COURT ROAD
    BALTIMORE,MD21208     		N/A PC ALL GENERAL SUPPORT 500
    READING PARTNERS BALTIMORE
    916 NORTH CHARLES STREET SUITE 250
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 50,000
    SECTION 1 INC
    124 B STATION NORTH MEWS
    BALTIMORE,MD21202     		N/A PC ALL GENERAL SUPPORT 10,000
    STATION NORTH ARTS & ENTERTAINMENT INC
    1 W NORTH AVENUE
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 10,000
    TAHIRIH JUSTICE CENTER
    201 NORTH CHARLES STREET SUITE 920
    BALTIMORE,MD35000     		N/A PC ALL GENERAL SUPPORT 35,000
    TEACH FOR AMERICA - BALTIMORE
    2601 N HOWARD STREET
    BALTIMORE,MD21218     		N/A PC ALL GENERAL SUPPORT 255,000
    TEMPLE UNIVERSITY COLLEGE OF EDUCATION
    1301 CECIL B MOORE AVENUE RITTER
    ANNEX SUITE 460
    PHILADELPHIA,PA19122     		N/A PC ALL GENERAL SUPPORT 24,000
    THE ASSOCIATED
    101 WEST MOUNT ROYAL AVENUE
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 526,000
    THE CHILDRENS BOOKSTORE EDUCATIONAL FOUNDATION
    737 DEEPDENE ROAD
    BALTIMORE,MD21210     		N/A PC ALL GENERAL SUPPORT 2,500
    THE INGENUITY PROJECT
    1400 W COLD SPRING LN
    BALTIMORE,MD21209     		N/A PC ALL GENERAL SUPPORT 25,000
    THREAD
    PO BOX 1584
    BALTIMORE,MD21203     		N/A PC ALL GENERAL SUPPORT 25,000
    US HISPANIC YOUTH ENTREPRENEUR EDUCATION
    5200 EASTERN AVENUE
    BALTIMORE,MD21224     		N/A PC ALL GENERAL SUPPORT 9,900
    UMBC FOUNDATION
    1000 HILLTOP CIRCLE 8TH FLOOR
    ADMINISTRATION BUILDING
    BALTIMORE,MD21250     		N/A PC ALL GENERAL SUPPORT 1,500
    WABE RADIO-PUBLIC BROADCASTING ATLANTA
    740 BISMARK ROAD NE
    ATLANTA,GA30324     		N/A PC ALL GENERAL SUPPORT 500
    WASHINGTON AND LEE UNIVERSITY
    204 W WASHINGTON ST
    LEXINGTON,VA24450     		N/A PC ALL GENERAL SUPPORT 550
    WILDERNESS LEADERSHIP & LEARNING INC (WILL)
    1758 PARK ROAD NW
    WASHINGTON,DC20010     		N/A PC ALL GENERAL SUPPORT 7,000
    WORLD WILDLIFE FUND
    1250 TWENTY-FOURTH STREET NW PO BOX
    97180
    WASHINGTON,DC200907180     		N/A PC ALL GENERAL SUPPORT 500
    YOUNG SURVIVORS COALITION
    80 BROAD STREET SUITE 1700
    NEW YORK,NY10004     		N/A PC ALL GENERAL SUPPORT 500
    Total .................................bullet 3a 3,201,244
    bApproved for future payment
    BMHS-UNACCOMPANIED MINORS
    ONE NORTH CHARLES STREET SUITE 1300
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 30,000
    MERIT
    733 N BROADWAY SUITE 137
    BALTIMORE,MD21205     		N/A PC ALL GENERAL SUPPORT 30,000
    OURS TO OWN - BALTIMORE
    7315 WISCONSIN AVENUE SUITE 1000W
    BETHESDA,MD20814     		N/A PC ALL GENERAL SUPPORT 100,000
    BSA - TWIGS EXPANSION
    712 CATHEDRAL STREET
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 80,000
    BSA - BAUM SYMPOSIUM
    712 CATHEDRAL STREET
    BALTIMORE,MD21201     		N/A PC ALL GENERAL SUPPORT 5,000
    Total .................................bullet 3b 245,000
    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 1,459,742  
    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 4,044,876  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aPASS-THROUGH PARTNERSHIP K-1     		900099 -107,626      
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -107,626 5,504,618 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    135,396,992
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 29,077 5,815   23,262

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

    TY 2015 DepreciationSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    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
    OFFICE FURNITURE 2001-01-23 13,526 13,526 200DB 7.000000000000 0 0    
    WAITING ROOM FURNITURE 2001-12-31 5,527 5,527 200DB 7.000000000000 0 0    
    ARTWORK - JAN'S OFFICE 2001-12-31 1,968 1,968 200DB 7.000000000000 0 0    
    TOSHIBA PHONE SYSTEM 2001-12-31 2,448 2,448 200DB 7.000000000000 0 0    
    NETWORK WEBSITE 2004-02-26 5,000 5,000 SL 5.000000000000 0 0    
    DESIGN/PRODUCE WEBSITE 2004-10-11 5,000 5,000 SL 5.000000000000 0 0    
    DESK CHAIR 2000-06-22 690 690 200DB 7.000000000000 0 0    
    VIDEO CONFERENCE EQUIP 2011-08-02 2,500 1,750 SL 5.000000000000 500 0    
    ARTWORK 2015-04-14 1,800   200DB 7.000000000000 1,029 0    
    LOBBY CHAIRS 2015-02-19 1,762   200DB 7.000000000000 1,007 0    
    CONFERENCE ROOM CHAIRS 2015-02-17 1,364   200DB 7.000000000000 779 0    

    TY 2015 GeneralExplanationAttachment
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Identifier Return Reference Explanation
    RECONCILIATION OF WAGES ON FORM 990-PF TO FORM W-3 FORM 990-PF PART I LINES 13 & 14 FORM 990-PF PART I LINE 13 $327,141FORM 990-PF PART I LINE 14 35,595SHARING OF EMPLOYEES WITH UNRELATED ORGANIZATIONS 35,595 ----------TOTAL WAGES ON FORM W-3 BOX 5 $381,961 ==========

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CERES INC (250 SHS) 81 81
    ALPHABET INC (147 SHS) 111,555 111,555
    ANSYS INC (2,067 SHS) 191,198 191,198
    BIO-TECHNE CORP 0 0
    BIOGEN IDEC INC (317 SHS) 97,113 97,113
    BLACKBAUD INC (1,059 SHS) 69,746 69,746
    CARMAX INC (3,441 SHS) 185,711 185,711
    CELGENE CORP (725 SHS) 86,826 86,826
    CHIPOTLE MEXICAN GRILL (172 SHS) 82,534 82,534
    CONCHO RESOURCES INC 0 0
    CORE LABORATORIES N V F 0 0
    COSTAR GROUP INC (417 SHS) 86,189 86,189
    DEALERTRACK TECHNOLOGIES 0 0
    DISCOVER FINANCIAL SVCS (2,791 SHS) 149,653 149,653
    ECOLAB INC (1,608 SHS) 183,923 183,923
    ENVESTNET INC (2,503 SHS) 74,715 74,715
    EXAMWORKS GROUP INC (3,282 SHS) 87,301 87,301
    EXPONENT INC (922 SHS) 46,054 46,054
    FASTENAL CO (1,364 SHS) 55,678 55,678
    HEALTHCARE SVC GROUP INC (1,828 SHS) 63,742 63,742
    IMAX CORP (4,810 SHS) 170,947 170,947
    INTUITIVE SURGICAL NEW (239 SHS) 130,532 130,532
    LKQ CORP (7,853 SHS) 232,684 232,684
    MARKEL CORP (128 SHS) 113,069 113,069
    MASTERCARD INC (1,057 SHS) 102,910 102,910
    MCGRAW-HILL FIN (1,382 SHS) 136,238 136,238
    MOODYS CORP (1,890 SHS) 189,643 189,643
    PRICESMART INC (580 SHS) 0 0
    PRA GROUP INC (2,780 SHS) 96,438 96,438
    QUALCOMM INC 0 0
    REDHAT INC (2,392 SHS) 198,082 198,082
    ROPER INDUSTRIES INC (980 SHS) 185,994 185,994
    S E I INVESTMENTS CO (3,140 SHS) 164,536 164,536
    SIGNET JEWELERS LTD (979 SHS) 121,093 121,093
    STERICYCLE INC (1,154 SHS) 139,172 139,172
    STRATASYS LTD 0 0
    TANGOE INC 0 0
    TRANSDIGM GROUP INC (522 SHS) 119,251 119,251
    TRIMBLE NAVIGATION LTD (3,768 SHS) 80,824 80,824
    TYLER TECHNOLOGIES INC (373 SHS) 65,021 65,021
    VERISK ANALYTICS INC CL A (1,853 SHS) 142,459 142,459
    VISA INC CL A (3,694 SHS) 286,470 286,470
    WAGEWORKS INC (2,567 SHS) 116,465 116,465
    WASTE CONNECTIONS INC (1,513 SHS) 85,212 85,212
    3 D SYSTEMS CORP 0 0

    TY 2015 InvestmentsOtherSchedule2
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CITI HICKS MUSE PARTNERS LP FMV 25,978 25,978
    QUESTMARK PARTNERS LP FMV 83,721 83,721
    MASTERS OFFSHORE FUND FMV 49,231 49,231
    SILVER CREEK LONG SHORT FMV 243,648 243,648
    HIGHFIELDS CAPITAL IV LP FMV 4,968,345 4,968,345
    BRANDYWINE INVESTMENT TRUST FMV 2,332,283 2,332,283
    SILVER CREEK III FMV 2,358,467 2,358,467
    ADAGE CAPITAL PARTNERS LP FMV 11,214,662 11,214,662
    JOHCM INTERNATIONAL SELECT FUND FMV 3,557,745 3,557,745
    THE SILCHESTER INTERNATIONAL INVEST FMV 8,400,828 8,400,828
    THE WEATHERLOW OFFSHORE FUND FMV 5,230,556 5,230,556
    BLUECREST ALLBLUE FUND FMV 0 0
    SOMERSET FMV 1,709,356 1,709,356
    PROPEL BALTIMORE FUND FMV 153,775 153,775
    PIMCO TOTAL RETURN FUND INSTL CL FMV 0 0
    VANGUARD INTERM TERM BD INDEX ADMIRAL SHR (357,054.92 SHS) FMV 4,020,438 4,020,438
    VANGUARD SHORT TERM BOND INDEX FUND ADMIRAL SHRS (439,664.91 SHS) FMV 4,585,705 4,585,705
    ACADIAN EMERGING MKTS PORTFOLIO INST CL (188,371.62 SHS) FMV 2,808,621 2,808,621
    JHANCOCK2 GLBL ABSOLUTE (265,243.64 SHS) FMV 2,758,534 2,758,534
    PIMCO COMMODITY REAL RETURN STRAT INST (140,426 SHS) FMV 886,088 886,088
    T ROWE PRICE NEW ERA FUND (83,880.64) SHS) FMV 2,287,425 2,287,425
    AMERICAN TOWER CORP REIT (1,528 SHS) FMV 148,140 148,140

    TY 2015 LandEtcSchedule2
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE FURNITURE 13,526 13,526 0  
    WAITING ROOM FURNITURE 5,527 5,527 0  
    ARTWORK - JAN'S OFFICE 1,968 1,968 0  
    TOSHIBA PHONE SYSTEM 2,448 2,448 0  
    NETWORK WEBSITE 5,000 5,000 0  
    DESIGN/PRODUCE WEBSITE 5,000 5,000 0  
    DESK CHAIR 690 690 0  
    VIDEO CONFERENCE EQUIP 2,500 2,250 250  
    ARTWORK 1,800 1,029 771  
    LOBBY CHAIRS 1,762 1,007 755  
    CONFERENCE ROOM CHAIRS 1,364 779 585  


    TY 2015 LegalFeesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 1,110 222   888


    TY 2015 OtherAssetsSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    EXECUTIVE COMPENSATION PLAN 104,948 99,931 99,931
    DISTRIBUTION RECEIVABLE 1,005,571 1,041,312 1,041,312


    TY 2015 OtherDecreasesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Description Amount
    UNREALIZED LOSS 6,183,869
    NONDEDUCTIBLE EXPENSE 1,008


    TY 2015 OtherExpensesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK CHARGES 188 0   188
    COMPUTER EXPENSE 1,639 0   1,639
    DUES AND SUBSCRIPTIONS 4,531 0   4,521
    INSURANCE 3,613 0   3,613
    INTERNET EXPENSE 107 0   107
    MEALS AND ENTERTAINMENT 9,014 0   9,014
    OFFICE SUPPLIES 1,266 0   1,266
    PARKING 2,919 0   2,919
    PAYROLL PROCESSING 1,250 0   1,250
    POSTAGE 565 0   565
    MAINTENANCE 237 0   237
    MISCELLANEOUS EXPENSE 342 0   342


    TY 2015 OtherIncomeSchedule2
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASS-THROUGH PARTNERSHIP K-1 -107,626 0 -107,626


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISOR 104,530 104,530   0
    INVESTMENT EXPENSES 454,034 454,034   0
    CONSULTING FEES 40,692 8,138   32,554


    TY 2015 TaxesSchedule
    Name:
    THE AARON STRAUS & LILLIE STRAUS
     
    FOUNDATION INC
    EIN:
    52-2040073
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN AND EXCISE TAXES PAID 88,660 44,952   0