TY 2014 Form 990PF

- TIN:

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

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

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
THE VIVIAN L SMITH FOUNDATION FOR
NEUROLOGIC RESEARCH

Number and street (or P.O. box number if mail is not delivered to street address)1900 WEST LOOP SOUTH NO 1050 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
HOUSTON, TX770273207

A Employer identification number

74-2139770

B Telephone number (see instructions)

(713) 986-8030

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

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

$11,214,334J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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

	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	(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......	220,523		220,523
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		630,395
b	Gross sales price for all assets on line 6a 4,281,350
7	Capital gain net income (from Part IV, line 2)...			630,395
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	850,918		850,918
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		8,484	0	4,242
b	Accounting fees (attach schedule).......		4,000	2,000	2,000
c	Other professional fees (attach schedule)....		41,338	32,338	9,000
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		8,624	624	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		16,937	15,633	1,304
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	79,383		50,595	16,546
25	Contributions, gifts, grants paid........	557,694			557,694
26	Total expenses and disbursements. Add lines 24 and 25	637,077		50,595	574,240
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	213,841
b	Net investment income (if negative, enter -0-)			800,323
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

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...............	5,598	5,690	5,690
	2	Savings and temporary cash investments..........	640
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)	165,619	184,509	184,509
	b	Investments—corporate stock (attach schedule)........	9,258,227	9,519,207	10,191,320
	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)...........	675,159	605,699	832,815
	14	Land, buildings, and equipment: basis 52,512
		Less: accumulated depreciation (attach schedule) 52,512
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	10,105,243	10,315,105	11,214,334
	17	Accounts payable and accrued expenses..........	8,479	4,500
	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)..........	8,479	4,500
		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.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	10,096,764	10,310,605
	30	Total net assets or fund balances (see instructions)......	10,096,764	10,310,605
	31	Total liabilities and net assets/fund balances (see instructions)..	10,105,243	10,315,105

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	10,096,764
2	Enter amount from Part I, line 27a.....................	2	213,841
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	10,310,605
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	10,310,605

Form 990-PF (2014)

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
1 a	PUBLICLY TRADED SECURITIES	P
b	PASSTHROUGH K-1 CAPITAL GAIN	P
c	CAPITAL GAIN DISTRIBUTIONS	P
d	GAIN FROM SECURITIES LITIGATION	P
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	4,001,499	3,650,955	350,544
b	117,773		117,773
c	157,678		157,678
d	4,400		4,400
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			350,544
b			117,773
c			157,678
d			4,400
e

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	630,395
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))
2013	492,710	11,604,580	0.042458
2012	206,699	10,208,848	0.020247
2011	259,003	9,788,529	0.026460
2010	456,352	9,909,821	0.046050
2009	371,762	9,259,195	0.040151

2	Total of line 1, column (d) ......................	2	0.175366
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	0.035073
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	11,623,144
5	Multiply line 4 by line 3.......................	5	407,659
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	8,003
7	Add lines 5 and 6.........................	7	415,662
8	Enter qualifying distributions from Part XII, line 4..............	8	574,240
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 (2014)

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 hereand 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	8,003
	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	8,003
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	8,003
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	11,850
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	5,000
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	16,850
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
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	8,847
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax8,847	Refunded	11	0

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

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

N/A

The books are in care of bullet

AMY M MECKEL Telephone no. bullet

(713) 986-8030

Located at bullet

1900 WEST LOOP SOUTH STE 1050HOUSTONTX ZIP+4 bullet

770273207

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 2014, 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

Form 990-PF (2014)

Page 6

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 2014?.............

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 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............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 2014 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 2014.)....................

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 2014?

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 (2014)

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
SUZANNE R BENSON	SEC/TREASURER/TRUSTEE 1.00	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	SEC/TREASURER/TRUSTEE 1.00	0	0	0
STEVEN H GERDES	PRESIDENT/TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	PRESIDENT/TRUSTEE 0.50	0	0	0
SANDRA S DOMPIER	ASST SEC/TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	ASST SEC/TRUSTEE 0.50	0	0	0
DEE S OSBORNE	VICE PRESIDENT/TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	VICE PRESIDENT/TRUSTEE 0.50	0	0	0
CYNTHIA ADKINS	TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	TRUSTEE 0.50	0	0	0
DR GUY CLIFTON	TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	TRUSTEE 0.50	0	0	0
DR BRENT MASEL	TRUSTEE 0.50	0	0	0
1900 WEST LOOP SOUTH SUITE 1050 HOUSTON,TX77027	TRUSTEE 0.50	0	0	0

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

Form 990-PF (2014)

Page 8

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

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

10,895,375

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

71,956

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

832,815

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

11,800,146

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

11,800,146

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

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

177,002

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

11,623,144

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

581,157

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

581,157

Tax on investment income for 2014 from Part VI, line 5......

8,003

Income tax for 2014. (This does not include the tax from Part VI.)...

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

8,003

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

573,154

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

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

573,154

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

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

573,154

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 ..........

574,240

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

574,240

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

8,003

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

566,237

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 (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

	(a) Corpus	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7				573,154
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......			557,694
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......
b From 2010.......
c From 2011.......
d From 2012.......
e From 2013.......
fTotal of lines 3a through e.........	0
4Qualifying distributions for 2014 from Part
XII, line 4: $ 574,240
a Applied to 2013, but not more than line 2a				557,694
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 2014 distributable amount.....				16,546
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2014.	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 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........				556,608
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 2009 not applied on line 5 or line 7 (see instructions) ...	0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....
d Excess from 2013....
e Excess from 2014....

Form 990-PF (2014)

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 2014, 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) 2014	(b) 2013	(c) 2012	(d) 2011	(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 e-mail address of the person to whom applications should be addressed:

AMY MECKEL
1900 WEST LOOP SOUTH SUITE 1050
HOUSTON,TX77027
(713) 986-8030

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

SEE ATTACHED STATEMENT

cAny submission deadlines:

NONE

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

SEE ATTACHED STATEMENT

Form 990-PF (2014)

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
UNIVERSITY OF TEXAS - HEALTH SCIENCE CENTER 7000 FANNIN SUITE 1200 HOUSTON,TX77030	NONE	PC	SCIENTIFIC RESEARCH	557,694
Total ................................. 3a				557,694

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2014)

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	220,523
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	630,395
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		850,918	0

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

13850,918

(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 (2014)

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

Yes

organizations?

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 address			Firm's EIN
				Phone no.

Form 990-PF (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2014 AccountingFeesSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX COMPLIANCE SERVICES	4,000	2,000		2,000

- TIN:

TY 2014 GeneralExplanationAttachment

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Identifier	Return Reference	Explanation
	FORM 990PF, PART VII-B, LINE 1A (2)(3)(4) AND LINE 1B	LINE 1(A)(2)AS PART OF THE NORMAL BILLING PROCEDURES, A MANAGEMENT COMPANY OWNED BY A RELATED PARTY MAY PAY EXPENSES OF THE FOUNDATION WHICH ARE LATER REIMBURSED BY THE FOUNDATION. THE FOUNDATION MAY ALSO PREPAY EXPENSES TO BE INCURRED IN THE IMMEDIATE FUTURE.PART VII-B, LINE 1(A)(3), LINE 1(A)(4); PART I, LINE 16CTHE FOUNDATION'S BOOKKEEPING, CASH AND PROPERTY MANAGEMENT FUNCTIONS WERE PERFORMED DURING THE FISCAL YEAR BY R.E. SMITH INTERESTS INC., A MANAGEMENT COMPANY OWNED BY THE R.E. SMITH TESTAMENTARY TRUSTS, A DISQUALIFIED PERSON. IN THIS CAPACITY, THE MANAGEMENT COMPANY PAYS EXPENSES ON THE FOUNDATION'S BEHALF WHICH ARE LATER REIMBURSED FROM THE FOUNDATION'S FUNDS. IN EXCHANGE FOR THESE SERVICES, THE FOUNDATION REMITTED TO R.E. SMITH INTERESTS, INC. A MANAGEMENT FEE IN THE AMOUNT OF $18,000, WHICH REPRESENTS A REASONABLE PAYMENT FOR SUCH SERVICES. THIS IS INCLUDED IN PART I, LINE 16C.THE FOUNDATION HAS ANSWERED "YES" TO QUESTIONS 1(A)(3) AND (4) SINCE IT PAYS FOR SERVICES PROVIDED EITHER DIRECTLY OR INDIRECTLY BY A DISQUALIFIED PERSON AS DESCRIBED ABOVE. HOWEVER, THE PAYMENT FOR THESE SERVICES IS AN EXCEPTED ACT UNDER SEC. 4941(D)(2)(E) SINCE THE PAYMENTS ARE FOR "PERSONAL SERVICES" WHICH ARE "NECESSARY" TO CARRY OUT THE EXEMPT PURPOSES OF THE FOUNDATION AND ARE "REASONABLE" IN AMOUNT AS THOSE TERMS ARE USED IN THE REGULATIONS AND OTHER AUTHORITATIVE PRONOUNCEMENTS.
	FORM 990PF, PART XV, LINE 2	2(A)APPLICATIONS SHOULD BE ADDRESSED TO AMY M. MECKEL, VIVIAN L. SMITH FOUNDATION FOR NEUROLOGIC RESEARCH, 1900 WEST LOOP SOUTH, SUITE 1050, HOUSTON, TEXAS, 77027, TELEPHONE NUMBER: 713-986-8030.2(B)INFORMATION REGARDING GRANT PROGRAMSTHE PRIMARY PURPOSES OF THE FOUNDATION ARE TO RECEIVE AND MAINTAIN REAL OR PERSONAL PROPERTY, OR BOTH, AND TO USE AND APPLY THE INCOME THEREFROM AND THE PRINCIPAL THEREOF EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES, AND FOR THE PREVENTION OF CRUELTY TO CHILDREN OR ANIMALS, INCLUDING BUT NOT LIMITED TO RESTORATIVE NEUROLOGY, CLINICAL ACTIVITIES, AND SCIENTIFIC RESEARCH IN THOSE AREAS OF MEDICINE WHICH DIAGNOSE, TREAT AND SEEK IMPROVEMENTS IN THE QUALITY OF LIVING FOR PERSONS AFFLICTED WITH INJURY AND DISEASE RELATED TO THE BRAIN, SPINAL CORD OR NERVOUS SYSTEM. THESE PURPOSES MAY BE PURSUED THROUGH SCIENTIFIC RESEARCH AND CLINICAL ACTIVITIES CONDUCTED BY THE FOUNDATION ALONE, IN CONJUNCTION WITH OTHERS ENGAGED IN SUCH ACTIVITIES, OR THROUGH PROVIDING FINANCIAL ASSISTANCE TO OTHER ORGANIZATIONS CONDUCTING RESEARCH AND PROVIDING TREATMENT FOR SUCH PURPOSES.ALL APPLICANTS ARE REQUIRED TO SUBMIT A DETAILED PROPOSAL OF THE RESEARCH THAT THEY INTEND TO PERFORM. THE PROPOSAL MUST STATE THE INTENDED RESULTS, METHOD OF IMPLEMENTATION AND AMOUNT OF THE GRANT REQUESTED.THE FOUNDATION WILL SCREEN THE GRANT APPLICANTS TO DETERMINE WHETHER THE PROPOSED RESEARCH WOULD ACCOMPLISH THE GOALS OF THE FOUNDATION BY ENHANCING THE KNOWLEDGE IN THE FIELD OF INTEREST TO THE FOUNDATION. THE BOARD OF TRUSTEES OF THE FOUNDATION WILL MAKE THE FINAL SELECTION BASED UPON THE EXPERTISE TO ACCOMPLISH THE RESEARCH.THE TERMS AND CONDITIONS OF A PARTICULAR GRANT WILL BE CONTAINED IN THE SPECIFIC PROPOSAL OF RESEARCH SUBMITTED BY THE ORGANIZATION. THE PROPOSAL SUBMITTED BY THE GRANTEE MUST SPECIFY THE PURPOSE, DURATION AND TOTAL AMOUNT OF THE GRANT. THE GRANTEE WILL PROVIDE A YEARLY REPORT OF THE ACTIVITIES PERFORMED DURING THE YEAR WHICH MUST BE SUBMITTED TO THE FOUNDATION WITHIN A REASONABLE TIME FOLLOWING YEAR END.2(D)RESTRICTION OR LIMITATIONS ON AWARDSTHERE ARE NO RESTRICTIONS ON AWARDS TO GEOGRAPHICAL AREAS. AS DISCUSSED IN (B) ABOVE, THE GRANTS MADE BY THE FOUNDATION WILL BE FOR SCIENTIFIC RESEARCH. GRANTS WILL ONLY BE MADE TO QUALIFIED 509(A)(1), (2) OR (3) ORGANIZATIONS.

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Name of Stock	End of Year Book Value	End of Year Fair Market Value
MITCHELL STOCK	895,348	932,636
LEUTHOLD CORE INVESTMENT FUND	847,579	1,123,145
M&N WORLD OPPORTUNITIES FUND	0	0
DODGE & COX INCOME FUND	1,705,111	1,836,928
VANGUARD DIVIDEND GROWTH	1,349,133	1,521,571
VANGUARD CONVERTIBLE SECURITIES	708,998	676,041
ARTISAN GLOBAL VALUE	1,874,686	1,981,872
CR SUISSE FLOATING RATE	949,593	935,140
T ROWE PRICE CONSENTRATED INTL EQ	1,188,759	1,183,987

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

US Government Securities - End of Year Book Value:

184,509

US Government Securities - End of Year Fair Market Value:

184,509

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
DRIEHAUS SMALL CAP RECOVERY LP	AT COST	605,699	832,815

- TIN:

TY 2014 LegalFeesSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL SERVICES	8,484	0		4,242

- TIN:

TY 2014 OtherExpensesSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
DELIVERY FEES	63	0	63
BANK CHARGES	49	49	0
OTHER INVESTMENT EXPENSES	92	92	0
LIABILITY INSURANCE	2,482	1,241	1,241
PASSTHROUGH K-1 DEDUCTIONS	14,251	14,251	0

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MANAGEMENT FEES/OVERHEAD	18,000	9,000		9,000
INVESTMENT MANAGEMENT FEES	23,338	23,338		0

- TIN:

TY 2014 TaxesSchedule

Name:

THE VIVIAN L SMITH FOUNDATION FOR

NEUROLOGIC RESEARCH

EIN: 74-2139770

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	624	624		0
FEDERAL EXCISE TAXES	8,000	0		0