TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information 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 09-01-2015 , and ending 08-31-2016

Name of foundation
FRANCES R JEFFRESS TRUST 21-38586

Number and street (or P.O. box number if mail is not delivered to street address)620 LIBERTY AVENUE 10TH FLOOR
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PITTSBURGH, PA152222705

A Employer identification number

61-6020156

B Telephone number (see instructions)

(412) 762-9161

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$6,443,433J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	126,744		126,744
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		216,133
b	Gross sales price for all assets on line 6a 1,488,914
7	Capital gain net income (from Part IV, line 2)...			216,133
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).......		1,541
12	Total. Add lines 1 through 11........	344,418		342,877
13	Compensation of officers, directors, trustees, etc.	62,525		50,020		12,505
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)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		2,766	116		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).......		4,179	3,964		215
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	69,470		54,100	0	12,720
25	Contributions, gifts, grants paid.......	319,947				319,947
26	Total expenses and disbursements. Add lines 24 and 25	389,417		54,100	0	332,667
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-44,999
b	Net investment income (if negative, enter -0-)			288,777
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	188,747	193,434	193,434
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts 0
	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).......	903,581	964,631	1,224,734
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	4,872,278	4,761,969	5,025,265
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	5,964,606	5,920,034	6,443,433
	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 )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	5,927,354	5,915,181
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	37,252	4,853
	30	Total net assets or fund balances (see instructions).....	5,964,606	5,920,034
	31	Total liabilities and net assets/fund balances (see instructions).	5,964,606	5,920,034

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

5,964,606

Enter amount from Part I, line 27a .....................

-44,999

Other increases not included in line 2 (itemize) bullet

427

Add lines 1, 2, and 3 ..........................

5,920,034

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

5,920,034

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	30. CITIGROUP INC		2015-07-27	2015-09-08
b	28. CITIGROUP INC			2015-09-08
c	9. TRIPADVISOR INC CLASS I			2015-09-08
d	61. TWITTER INC			2015-09-08
e	7. TRIPADVISOR INC CLASS I			2015-09-09
	4. TRIPADVISOR INC CLASS I		2014-06-24	2015-09-09
	4. TWITTER INC		2014-10-27	2015-09-09
	27. TWITTER INC			2015-09-09
	32. TWITTER INC		2014-10-27	2015-09-09
	9. MONSANTO CO		2013-04-15	2015-09-14
	8. MONSANTO CO		2013-04-15	2015-09-15
	29. CONCHO RESOURCES INC		2013-10-02	2015-09-16
	8. MONSANTO CO		2013-04-15	2015-09-16
	10. MONSANTO CO		2013-04-15	2015-09-16
	11. GILEAD SCIENCES INC COM			2015-09-24
	11. GILEAD SCIENCES INC COM		2013-02-12	2015-09-25
	21. GILEAD SCIENCES INC COM		2013-02-12	2015-09-28
	33. GILEAD SCIENCES INC COM		2013-02-12	2015-09-29
	10. CANADIAN PACIFIC RAILWAY LTD SEDOL 2793115		2013-07-18	2015-09-30
	9. CANADIAN PACIFIC RAILWAY LTD SEDOL 2793115			2015-10-01
	18. GILEAD SCIENCES INC COM			2015-10-01
	10. CANADIAN PACIFIC RAILWAY LTD SEDOL 2793115			2015-10-02
	17. GILEAD SCIENCES INC COM			2015-10-02
	11. CANADIAN PACIFIC RAILWAY LTD SEDOL 2793115		2014-01-13	2015-10-05
	13. INCYTE CORPORATION		2014-01-31	2015-10-05
	7. BIOGEN INC		2012-09-18	2015-10-06
	4. BIOGEN INC		2012-09-18	2015-10-06
	13. VMWARE INC CLASS A		2012-05-24	2015-10-12
	32. VMWARE INC CLASS A			2015-10-12
	24. VMWARE INC CLASS A			2015-10-13
	12. VMWARE INC CLASS A			2015-10-14
	10. VMWARE INC CLASS A		2013-01-16	2015-10-15
	9. FLEETCOR TECHNOLOGIES INC		2014-01-22	2015-10-21
	7. FLEETCOR TECHNOLOGIES INC		2014-01-22	2015-10-21
	15. INCYTE CORPORATION			2015-10-21
	13. INCYTE CORPORATION		2014-01-30	2015-10-21
	8. AMERICAN TOWER CORP			2015-10-23
	9. AMERICAN TOWER CORP		2011-10-03	2015-10-23
	14. APPLE INC		2013-05-01	2015-10-26
	15. APPLE INC			2015-10-26
	14. DOLLAR GENERAL CORP			2015-10-26
	14. DOLLAR GENERAL CORP			2015-10-26
	15. DOLLAR GENERAL CORP			2015-10-27
	36. DOLLAR GENERAL CORP			2015-10-28
	38. DOLLAR GENERAL CORP			2015-10-28
	22. SBA COMMUNICATIONS CORP (IPO)		2014-02-19	2015-10-28
	23. SBA COMMUNICATIONS CORP (IPO)			2015-10-28
	7. ALLERGAN PLC SEDOL BY9D546			2015-10-29
	5. CHIPOTLE MEXICAN GRIL CL A			2015-11-03
	49. DOLLAR GENERAL CORP			2015-11-03
	31. MONSTER BEVERAGE CORPORATION			2015-11-03
	19. DOLLAR GENERAL CORP			2015-11-06
	29. DOLLAR GENERAL CORP			2015-11-11
	194. FIREEYE INC			2015-11-12
	42. FIREEYE INC			2015-11-12
	54. SBA COMMUNICATIONS CORP (IPO)			2015-11-13
	28. NXP SEMICONDUCTORS ISIN NL0009538784 SEDOL B505PN7			2015-11-23
	5. AMAZON.COM INC		2007-12-21	2015-12-01
	11. CHIPOTLE MEXICAN GRIL CL A			2015-12-02
	7. CHIPOTLE MEXICAN GRIL CL A			2015-12-02
	23. MCGRAW-HILL COMPANIES INC COM		2014-11-04	2015-12-04
	331.383 BLACKROCK FDS HIGH YIELD BD PORTFOLIO			2015-12-28
	20648.445 BLACKROCK FDS HIGH YIELD BD PORTFOLIO			2015-12-28
	3. ALPHABET INC/CA-CL C		2012-11-30	2016-01-08
	2. ALPHABET INC/CA-CL A		2012-11-30	2016-01-08
	58. MORGAN STANLEY			2016-01-08
	58. STARBUCKS CORP COM		2013-01-16	2016-01-08
	5. ALPHABET INC/CA-CL C			2016-01-11
	4. ALPHABET INC/CA-CL A			2016-01-11
	48. CITIGROUP INC			2016-01-13
	39. DISNEY WALT CO			2016-01-13
	100. MORGAN STANLEY			2016-01-13
	16. BOEING CO		2010-03-24	2016-01-14
	38. CITIGROUP INC			2016-01-14
	14. SHERWIN-WILLIAMS CO			2016-01-14
	22. SHERWIN-WILLIAMS CO			2016-01-21
	14. SHERWIN-WILLIAMS CO			2016-01-21
	78. CITIGROUP INC			2016-01-22
	235. MORGAN STANLEY			2016-01-22
	37. TIFFANY & CO NEW COM			2016-01-25
	105. TIFFANY & CO NEW COM			2016-01-25
	99. SHAKE SHACK INC - CLASS A			2016-01-27
	30. MASTERCARD INC CL A		2011-07-07	2016-01-28
	5. PRICELINE GROUP, INC.			2016-01-28
	30. APPLE INC		2013-06-10	2016-02-01
	28. APPLE INC		2013-06-10	2016-02-01
	26. LINKEDIN CORP A			2016-02-05
	41. VERTEX PHARMACEUTICALS INC			2016-02-12
	93. ARM HOLDINGS PLC SPONSORED ADR			2016-02-19
	50. KROGER CO		2015-01-30	2016-02-24
	54. ARM HOLDINGS PLC SPONSORED ADR			2016-02-26
	28. LINKEDIN CORP A			2016-03-07
	113. ARM HOLDINGS PLC SPONSORED ADR			2016-03-16
	34. NETFLIX.COM INC			2016-03-17
	14. NETFLIX.COM INC		2013-10-29	2016-03-17
	37. LINKEDIN CORP A			2016-03-18
	66. STARBUCKS CORP COM			2016-03-21
	6. LINKEDIN CORP A		2015-05-01	2016-03-24
	10. LINKEDIN CORP A			2016-03-24
	974.163 GOLDMAN SACHS GRTH OPPOR INSTIT CLASS		2015-12-28	2016-03-31
	5915.494 GOLDMAN SACHS GRTH OPPOR INSTIT CLASS			2016-03-31
	27. FACEBOOK INC A			2016-04-11
	71. FACEBOOK INC A			2016-04-11
	36. UNDER ARMOUR INC-CLASS C-W/I			2016-04-13
	18. FACEBOOK INC A		2012-05-18	2016-04-25
	49. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-04-26
	64. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-04-26
	105. ABBOTT LABORATORIES INC			2016-04-28
	44. MONSANTO CO			2016-05-02
	20. COSTCO WHSL CORP NEW COM		2008-07-17	2016-05-05
	12. COSTCO WHSL CORP NEW COM		2008-07-17	2016-05-09
	30. L BRANDS INC		2016-02-17	2016-05-09
	151. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-05-13
	4. O REILLY AUTOMOTIVE INC		2014-01-14	2016-05-13
	43. UNDER ARMOUR INC CLASS A			2016-05-16
	96. UNDER ARMOUR INC-CLASS C-W/I			2016-05-16
	20. L BRANDS INC			2016-05-17
	28. STARBUCKS CORP COM		2013-02-19	2016-05-17
	15. UNDER ARMOUR INC CLASS A			2016-05-17
	17. L BRANDS INC			2016-05-18
	28. L BRANDS INC			2016-05-19
	28. L BRANDS INC		2016-03-17	2016-05-19
	105. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-05-26
	32. UNDER ARMOUR INC CLASS A		2013-10-15	2016-05-27
	56. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-05-31
	33. STARBUCKS CORP COM			2016-06-01
	55. ABBOTT LABORATORIES INC			2016-06-02
	44. NIKE INC CL B			2016-06-02
	28. UNDER ARMOUR INC CLASS A			2016-06-02
	4. UNDER ARMOUR INC-CLASS C-W/I		2015-10-23	2016-06-02
	62. UNDER ARMOUR INC-CLASS C-W/I			2016-06-02
	54. UNDER ARMOUR INC-CLASS C-W/I			2016-06-02
	46. ABBOTT LABORATORIES INC			2016-06-03
	50. JD.COM INC-ADR ADR SEDOL BMM27D9			2016-06-03
	16. NIKE INC CL B		2010-07-08	2016-06-03
	22. STARBUCKS CORP COM			2016-06-03
	34. UNDER ARMOUR INC CLASS A			2016-06-03
	24. UNDER ARMOUR INC CLASS A			2016-06-03
	42. UNDER ARMOUR INC CLASS A			2016-06-03
	2. ALPHABET INC/CA-CL C		2012-10-18	2016-06-06
	2. ALPHABET INC/CA-CL A		2012-10-18	2016-06-06
	48. NIKE INC CL B			2016-06-06
	34. UNDER ARMOUR INC CLASS A			2016-06-06
	13. ABBOTT LABORATORIES INC		2013-05-15	2016-06-07
	14. DISNEY WALT CO		2012-03-23	2016-06-07
	31. ABBOTT LABORATORIES INC			2016-06-08
	12. DISNEY WALT CO		2012-03-23	2016-06-08
	63. ABBOTT LABORATORIES INC			2016-06-09
	7. BIOGEN INC		2013-01-31	2016-06-09
	63. ABBOTT LABORATORIES INC			2016-06-10
	23. ABBOTT LABORATORIES INC			2016-06-15
	24. ABBOTT LABORATORIES INC		2015-09-30	2016-06-15
	48. ABBOTT LABORATORIES INC			2016-06-16
	3. ALPHABET INC/CA-CL C		2012-10-18	2016-06-20
	3. ALPHABET INC/CA-CL A		2012-10-18	2016-06-20
	12. MASTERCARD INC CL A		2011-07-07	2016-06-20
	10. AMAZON.COM INC		2007-12-21	2016-06-24
	23. NIKE INC CL B		2010-07-08	2016-06-24
	35. NIKE INC CL B			2016-06-24
	5. MCDONALDS CORP COM		2015-11-12	2016-06-27
	29. MONSANTO CO			2016-06-27
	19. NETFLIX.COM INC		2013-10-29	2016-06-27
	25. NETFLIX.COM INC		2013-10-29	2016-06-27
	13. BIOGEN INC		2013-01-31	2016-06-28
	4. ALPHABET INC/CA-CL C			2016-06-29
	4. ALPHABET INC/CA-CL A		2012-10-18	2016-06-29
	22. MONSANTO CO			2016-06-29
	11. LINKEDIN CORP A			2016-07-06
	21. MASTERCARD INC CL A			2016-07-11
	15. MASTERCARD INC CL A		2011-07-07	2016-07-12
	6555.588 VOYA REAL ESTATE FUND CLASS I			2016-07-14
	33. APPLE INC			2016-07-18
	22. APPLE INC			2016-07-18
	57. APPLE INC		2013-09-24	2016-07-21
	23. NETFLIX.COM INC			2016-07-21
	27. NETFLIX.COM INC			2016-07-21
	8. RED HAT INC		2012-01-24	2016-07-22
	4. ALPHABET INC/CA-CL C			2016-07-25
	4. ALPHABET INC/CA-CL A			2016-07-25
	24. AMERICAN TOWER CORP			2016-07-25
	19. RED HAT INC			2016-07-25
	17. DISNEY WALT CO		2012-03-23	2016-07-28
	40. KROGER CO			2016-07-28
	12. DISNEY WALT CO		2012-03-23	2016-07-29
	49. KROGER CO		2015-01-30	2016-07-29
	16975.324 EATON VANCE FLOATING RATE FUND CLASS I			2016-08-01
	10119.048 EATON VANCE FLOATING RATE FUND CLASS I		2015-12-28	2016-08-01
	54. KROGER CO			2016-08-01
	63. KROGER CO			2016-08-02
	62. KROGER CO			2016-08-03
	24. DISNEY WALT CO			2016-08-04
	23. KROGER CO		2015-02-06	2016-08-04
	87. KROGER CO			2016-08-04
	123. MORGAN STANLEY		2016-02-23	2016-08-04
	69. MORGAN STANLEY		2016-02-23	2016-08-05
	4. ADIDAS AG SPONSORED ADR		2016-07-14	2016-08-08
	4. ADOBE SYSTEMS INC		2013-10-30	2016-08-08
	6. ALEXION PHARMACEUTICALS INC		2012-03-12	2016-08-08
	1. ALPHABET INC/CA-CL C		2015-01-15	2016-08-08
	1. ALPHABET INC/CA-CL A		2013-02-11	2016-08-08
	3. AMERICAN TOWER CORP		2011-10-06	2016-08-08
	4. APPLE INC		2013-09-24	2016-08-08
	1. BIOGEN INC		2013-01-31	2016-08-08
	2. BOEING CO		2010-03-24	2016-08-08
	57. BRISTOL MYERS SQUIBB CO			2016-08-08
	6. BRISTOL MYERS SQUIBB CO		2013-12-04	2016-08-08
	5. CELGENE CORP		2013-03-21	2016-08-08
	26. CONCHO RESOURCES INC			2016-08-08
	2. CONSTELLATION BRANDS INC CL A		2016-03-24	2016-08-08
	9. COSTCO WHSL CORP NEW COM		2008-07-17	2016-08-08
	2. DISNEY WALT CO		2013-01-14	2016-08-08
	1805.054 DODGE & COX INCOME FUND			2016-08-08
	7. FACEBOOK INC A		2012-05-18	2016-08-08
	2. FLEETCOR TECHNOLOGIES INC		2014-01-22	2016-08-08
	1. GOLDMAN SACHS GROUP INC COM		2016-07-11	2016-08-08
	1. HALLIBURTON CO		2016-07-20	2016-08-08
	7. HOME DEPOT INC COM		2016-01-13	2016-08-08
	37. ILLUMINA INC COM			2016-08-08
	89. IWP ISHARES RUSSELL MIDCAP GRWTH FD		2016-03-31	2016-08-08
	20. KROGER CO			2016-08-08
	19. KROGER CO			2016-08-08
	2. KROGER CO		2015-07-15	2016-08-08
	3. LULULEMON ATHLETICA INC		2016-05-05	2016-08-08
	3238.306 MFS VALUE FUND CLASS I FUND 893		2013-02-12	2016-08-08
	935.094 MAINSTAY EPOCH GLOBAL EQUITY YIELD FUND CLASS I		2015-12-28	2016-08-08
	4. MARRIOTT INTERNATIONAL INC CL A		2014-03-28	2016-08-08
	6. MASTERCARD INC CL A		2011-07-07	2016-08-08
	2. MCDONALDS CORP COM		2015-11-12	2016-08-08
	7. MICROSOFT CORP		2015-10-26	2016-08-08
	2. MONSTER BEVERAGE CORPORATION		2016-02-09	2016-08-08
	1. MORGAN STANLEY		2016-02-23	2016-08-08
	2. NETFLIX.COM INC		2014-03-26	2016-08-08
	7. NIKE INC CL B		2012-08-13	2016-08-08
	4. NOVO NORDISK A S ADR		2012-10-23	2016-08-08
	6. NVIDIA CORP		2016-01-28	2016-08-08
	2. O REILLY AUTOMOTIVE INC		2014-01-14	2016-08-08
	1. PALO ALTO NETWORKS INC		2016-05-27	2016-08-08
	1. PRICELINE GROUP, INC.		2013-03-22	2016-08-08
	3. QUALCOMM		2016-06-27	2016-08-08
	3. RED HAT INC		2010-12-21	2016-08-08
	1. REGENERON PHARMACEUTICALS INC		2016-08-04	2016-08-08
	848.632 ROWE T PRICE MID CAP VALUE F COM		2004-11-22	2016-08-08
	702.844 T ROWE PRICE REAL ESTATE FUND FD 122		2016-07-14	2016-08-08
	17. S&P GLOBAL INC			2016-08-08
	6. SALESFORCE.COM		2011-09-09	2016-08-08
	4. SHIRE PLC SPONSORED ADR		2016-06-14	2016-08-08
	6. STARBUCKS CORP COM		2013-01-04	2016-08-08
	1. TESLA MOTORS INC		2013-09-06	2016-08-08
	4. TIME WARNER INC		2015-08-07	2016-08-08
	1. VERTEX PHARMACEUTICALS INC		2016-06-16	2016-08-08
	30. VISA INC CLASS A SHARES		2012-01-04	2016-08-08
	3. ALLERGAN PLC SEDOL BY9D546		2016-05-13	2016-08-08
	1. MOBILEYE NV SEDOL BPBFT01		2016-08-02	2016-08-08
	51. KROGER CO		2016-01-13	2016-08-09
	45. KROGER CO			2016-08-09
	43. MORGAN STANLEY		2016-02-23	2016-08-09
	198. NOVO NORDISK A S ADR			2016-08-15
	16. S&P GLOBAL INC			2016-08-19
	116. GENERAL ELEC CO COM		2016-02-09	2016-08-23
	29. NOVO NORDISK A S ADR			2016-08-23
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,545	1,743	-198
b	1,439	1,652	-213
c	611	939	-328
d	1,678	2,845	-1,167
e	475	742	-267
	271	426	-155
	108	199	-91
	729	1,300	-571
	880	1,593	-713
	820	937	-117
	724	833	-109
	2,911	3,311	-400
	719	833	-114
	901	1,041	-140
	1,122	434	688
	1,123	448	675
	2,028	856	1,172
	3,199	1,345	1,854
	1,420	1,290	130
	1,309	1,277	32
	1,753	1,078	675
	1,482	1,465	17
	1,621	1,349	272
	1,661	1,654	7
	1,559	858	701
	1,917	1,089	828
	1,105	622	483
	927	1,229	-302
	2,283	2,558	-275
	1,664	2,293	-629
	829	1,162	-333
	681	972	-291
	1,311	969	342
	1,014	753	261
	1,604	994	610
	1,401	864	537
	792	427	365
	890	480	410
	1,614	874	740
	1,729	942	787
	923	1,047	-124
	922	1,051	-129
	975	1,132	-157
	2,360	2,729	-369
	2,517	2,890	-373
	2,591	2,136	455
	2,695	2,250	445
	2,203	1,638	565
	3,139	1,894	1,245
	3,352	3,787	-435
	4,193	4,323	-130
	1,280	1,517	-237
	1,849	2,349	-500
	4,330	12,387	-8,057
	937	1,429	-492
	5,652	5,696	-44
	2,216	2,673	-457
	3,365	457	2,908
	6,338	5,185	1,153
	4,033	4,457	-424
	2,230	2,069	161
	2,363	2,627	-264
	147,223	167,922	-20,699
	2,152	1,043	1,109
	1,467	694	773
	1,665	1,141	524
	3,307	1,568	1,739
	3,540	1,749	1,791
	2,896	1,390	1,506
	2,219	2,838	-619
	3,928	1,379	2,549
	2,746	2,495	251
	2,078	1,164	914
	1,731	2,255	-524
	3,420	3,967	-547
	5,380	6,310	-930
	3,439	4,059	-620
	3,200	4,701	-1,501
	5,997	8,325	-2,328
	2,256	3,473	-1,217
	6,403	10,750	-4,347
	3,316	5,490	-2,174
	2,520	957	1,563
	5,223	3,002	2,221
	2,879	1,912	967
	2,696	1,784	912
	2,861	1,966	895
	3,381	5,019	-1,638
	3,714	4,097	-383
	1,912	1,728	184
	2,193	2,524	-331
	3,296	2,417	879
	4,753	5,434	-681
	3,408	1,294	2,114
	1,402	625	777
	4,127	3,597	530
	3,917	1,790	2,127
	664	1,200	-536
	1,106	1,892	-786
	22,630	23,000	-370
	137,417	154,061	-16,644
	2,967	858	2,109
	7,799	2,378	5,421
	1,521	704	817
	1,981	724	1,257
	1,224	1,661	-437
	1,599	1,577	22
	4,332	3,559	773
	4,199	4,585	-386
	2,939	1,480	1,459
	1,776	888	888
	2,112	2,454	-342
	3,393	5,160	-1,767
	1,055	531	524
	1,599	881	718
	3,338	1,897	1,441
	1,307	1,655	-348
	1,545	761	784
	555	309	246
	1,080	1,445	-365
	1,729	2,408	-679
	1,711	2,429	-718
	2,419	3,598	-1,179
	1,208	660	548
	1,359	1,939	-580
	1,812	898	914
	2,172	2,019	153
	2,397	749	1,648
	1,021	580	441
	136	176	-40
	2,102	1,247	855
	1,842	2,427	-585
	1,796	1,705	91
	1,147	1,795	-648
	862	277	585
	1,204	610	594
	1,236	711	525
	876	1,114	-238
	1,534	886	648
	1,439	700	739
	1,465	699	766
	2,610	833	1,777
	1,253	1,609	-356
	507	487	20
	1,382	611	771
	1,207	1,162	45
	1,177	524	653
	2,455	2,399	56
	1,769	1,092	677
	2,415	2,442	-27
	864	965	-101
	902	954	-52
	1,792	2,050	-258
	2,100	1,051	1,049
	2,138	1,048	1,090
	1,141	383	758
	7,013	914	6,099
	1,223	400	823
	1,848	671	1,177
	581	563	18
	2,969	3,042	-73
	1,628	848	780
	2,126	1,116	1,010
	2,975	2,028	947
	2,740	1,440	1,300
	2,783	1,397	1,386
	2,283	2,596	-313
	2,091	2,931	-840
	1,867	671	1,196
	1,339	480	859
	147,697	115,354	32,343
	3,289	2,151	1,138
	2,197	1,497	700
	5,678	4,012	1,666
	1,998	1,055	943
	2,323	1,398	925
	584	377	207
	2,959	1,671	1,288
	3,030	1,476	1,554
	2,794	1,294	1,500
	1,399	903	496
	1,631	742	889
	1,378	1,383	-5
	1,152	524	628
	1,676	1,698	-22
	148,195	155,000	-6,805
	88,339	85,000	3,339
	1,836	1,904	-68
	2,058	2,241	-183
	2,058	2,215	-157
	2,274	1,191	1,083
	742	824	-82
	2,806	3,222	-416
	3,450	2,919	531
	1,998	1,638	360
	327	289	38
	394	217	177
	815	519	296
	780	502	278
	805	389	416
	348	166	182
	432	282	150
	312	156	156
	264	146	118
	3,445	2,906	539
	362	306	56
	566	281	285
	3,418	2,357	1,061
	325	299	26
	1,500	666	834
	191	101	90
	25,000	24,974	26
	875	281	594
	324	215	109
	163	152	11
	45	44	1
	955	864	91
	6,152	1,840	4,312
	8,702	8,218	484
	646	766	-120
	614	720	-106
	65	77	-12
	236	191	45
	117,000	88,730	28,270
	17,000	15,943	1,057
	291	221	70
	581	192	389
	237	225	12
	405	376	29
	318	239	79
	29	24	5
	190	106	84
	391	165	226
	189	134	55
	350	168	182
	575	266	309
	130	130
	1,408	692	716
	184	153	31
	225	143	82
	421	429	-8
	24,500	19,977	4,523
	21,500	21,254	246
	2,047	1,529	518
	488	186	302
	787	682	105
	331	167	164
	228	168	60
	315	316	-1
	102	89	13
	2,398	756	1,642
	738	669	69
	47	45	2
	1,647	2,059	-412
	1,453	1,757	-304
	1,262	1,021	241
	9,225	6,991	2,234
	1,922	1,445	477
	3,630	3,256	374
	1,374	1,213	161
			117,654

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			-198
b			-213
c			-328
d			-1,167
e			-267
			-155
			-91
			-571
			-713
			-117
			-109
			-400
			-114
			-140
			688
			675
			1,172
			1,854
			130
			32
			675
			17
			272
			7
			701
			828
			483
			-302
			-275
			-629
			-333
			-291
			342
			261
			610
			537
			365
			410
			740
			787
			-124
			-129
			-157
			-369
			-373
			455
			445
			565
			1,245
			-435
			-130
			-237
			-500
			-8,057
			-492
			-44
			-457
			2,908
			1,153
			-424
			161
			-264
			-20,699
			1,109
			773
			524
			1,739
			1,791
			1,506
			-619
			2,549
			251
			914
			-524
			-547
			-930
			-620
			-1,501
			-2,328
			-1,217
			-4,347
			-2,174
			1,563
			2,221
			967
			912
			895
			-1,638
			-383
			184
			-331
			879
			-681
			2,114
			777
			530
			2,127
			-536
			-786
			-370
			-16,644
			2,109
			5,421
			817
			1,257
			-437
			22
			773
			-386
			1,459
			888
			-342
			-1,767
			524
			718
			1,441
			-348
			784
			246
			-365
			-679
			-718
			-1,179
			548
			-580
			914
			153
			1,648
			441
			-40
			855
			-585
			91
			-648
			585
			594
			525
			-238
			648
			739
			766
			1,777
			-356
			20
			771
			45
			653
			56
			677
			-27
			-101
			-52
			-258
			1,049
			1,090
			758
			6,099
			823
			1,177
			18
			-73
			780
			1,010
			947
			1,300
			1,386
			-313
			-840
			1,196
			859
			32,343
			1,138
			700
			1,666
			943
			925
			207
			1,288
			1,554
			1,500
			496
			889
			-5
			628
			-22
			-6,805
			3,339
			-68
			-183
			-157
			1,083
			-82
			-416
			531
			360
			38
			177
			296
			278
			416
			182
			150
			156
			118
			539
			56
			285
			1,061
			26
			834
			90
			26
			594
			109
			11
			1
			91
			4,312
			484
			-120
			-106
			-12
			45
			28,270
			1,057
			70
			389
			12
			29
			79
			5
			84
			226
			55
			182
			309

			716
			31
			82
			-8
			4,523
			246
			518
			302
			105
			164
			60
			-1
			13
			1,642
			69
			2
			-412
			-304
			241
			2,234
			477
			374
			161

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	216,133
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 ...................		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? Yes No

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	324,205	6,762,024	0.047945
2013	289,513	6,603,903	0.04384
2012	280,313	6,023,241	0.046539
2011	293,126	5,743,156	0.051039
2010	302,727	5,929,124	0.051058

Total of line 1, column (d) .....................

20.240421

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 . . .

0.048084

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

6,387,235

Multiply line 4 by line 3......................

307,124

Enter 1% of net investment income (1% of Part I, line 27b)...........

2,888

Add lines 5 and 6........................

310,012

Enter qualifying distributions from Part XII, line 4.............

332,667

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)

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	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	2,888
	hereand 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	2,888
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	2,888
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	5,300
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	5,300
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,412
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax1,444	Refunded	11	968

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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.............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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) .............

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).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

PNC BANK NA Telephone no. bullet

(412) 762-9161

Located at bullet

620 LIBERTY AVENUEPITTSBURGHPA ZIP+4 bullet

152222705

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here....... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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)? ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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?.............

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)):

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?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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?

Form 990-PF (2015)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (Continued)

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))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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
PNC BANK N A	TRUSTEE 13	62,525
620 LIBERTY AVENUE PITTSBURGH,PA152222705	TRUSTEE 13	62,525

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...................				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............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2015)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

6,484,503

Average of monthly cash balances.......................

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

6,484,503

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

6,484,503

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

97,268

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

6,387,235

Minimum investment return. Enter 5% of line 5..................

319,362

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

319,362

Tax on investment income for 2015 from Part VI, line 5......

2,888

Income tax for 2015. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

2,888

Distributable amount before adjustments. Subtract line 2c from line 1............

316,474

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

316,474

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

316,474

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

332,667

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

332,667

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).................

2,888

Adjusted qualifying distributions. Subtract line 5 from line 4..............

329,779

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)

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					316,474
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				319,782
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: $ 332,667
a Applied to 2014, but not more than line 2a				319,782
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.....					12,885
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 ..........					303,589
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)

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 section4942(j)(3) or4942(j)(5)

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	(e) Total

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2015)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
KOSAIR CHARITIES COMMITTEE PO BOX 37370 LOUISVILLE,KY40233	NONE	PC	GENERAL SUPPORT	127,979
NORTONS CHILDRENS HOSPITAL FOUNDATION 200 E CHESTNUT STREET LOUISVILLE,KY40202	NONE	PC	GENERAL SUPPORT	63,989
SALVATION ARMY 214-216 W CHESTNUT STREET LOUISVILLE,KY40202	NONE	PC	GENERAL SUPPORT	21,330
GEORGETOWN COLLEGE 400 EAST COLLEGE STREET GEORGETOWN,KY40324	NONE	PC	GENERAL SUPPORT	106,649
Total ................................. 3a				319,947

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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	126,744
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	216,133
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aFEDERAL TAX REFUND			14	1,541
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				344,418

13Total. Add line 12, columns (b), (d), and (e)..................

13344,418

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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?...........YesNo

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.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2015 InvestmentsOtherSchedule2

Name:

FRANCES R JEFFRESS TRUST 21-38586

EIN:

61-6020156

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
MUTUAL FUNDS - FIXED	AT COST	2,107,941	2,086,634
MUTUAL FUNDS - EQUITY	AT COST	2,654,028	2,938,631

- TIN:

TY 2015 OtherExpensesSchedule

Name:

FRANCES R JEFFRESS TRUST 21-38586

EIN:

61-6020156

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
OTHER NONALLOCABLE EXPENSES -	215	0	215
MAP MANAGEMENT FEES	3,949	3,949	0
ADR SERVICE FEES	15	15	0

- TIN:

TY 2015 OtherIncomeSchedule2

Name:

FRANCES R JEFFRESS TRUST 21-38586

EIN:

61-6020156

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
FEDERAL TAX REFUND FROM PRIOR YEAR	1,541	0

- TIN:

TY 2015 OtherIncreasesSchedule

Name:

FRANCES R JEFFRESS TRUST 21-38586

EIN:

61-6020156

Description	Amount
TAX COST ADJUSTMENT	427

- TIN:

TY 2015 TaxesSchedule

Name:

FRANCES R JEFFRESS TRUST 21-38586

EIN:

61-6020156

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	116	116		0
FEDERAL ESTIMATES - PRINCIPAL	2,650	0		0