Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
JOE AND ARLENE WATT FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 6085
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SHERIDAN, WY82801
A Employer identification number

83-0330482
B Telephone number (see instructions)

(307) 672-1498
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$23,808,901J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 100
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 548,640 548,640  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 617,769
b Gross sales price for all assets on line 6a 5,056,312
7 Capital gain net income (from Part IV, line 2)... 617,769
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 12,105 12,105  
12 Total. Add lines 1 through 11........ 1,178,614 1,178,514  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,800 1,350   450
c Other professional fees (attach schedule).... Click to see attachment 127,948 120,773   7,175
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 16,112 1,700   12
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 969 484   485
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 146,829 124,307   8,122
25 Contributions, gifts, grants paid....... 1,108,500 1,108,500
26 Total expenses and disbursements. Add lines 24 and 25 1,255,329 124,307   1,116,622
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -76,715
b Net investment income (if negative, enter -0-) 1,054,207
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 573,225 827,568 827,568
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,978,830 Click to see attachment2,341,756 2,376,882
b Investments—corporate stock (attach schedule)....... 12,321,048 Click to see attachment11,765,276 16,459,792
c Investments—corporate bonds (attach schedule)....... 3,812,404 Click to see attachment3,630,533 3,678,115
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 250,002 Click to see attachment300,002 464,280
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment8,605 Click to see attachment2,264 Click to see attachment2,264
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,944,114 18,867,399 23,808,901
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 18,944,114 18,867,399
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 18,944,114 18,867,399
31 Total liabilities and net assets/fund balances (see instructions). 18,944,114 18,867,399
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
18,944,114
2
Enter amount from Part I, line 27a .....................
2
-76,715
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
18,867,399
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
18,867,399
Form 990-PF (2015)
Form 990-PF (2015)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 100000-FEDERAL HOME LN MTG CORP STR P 2014-12-10 2015-03-30
b 59.938-AMERICAN EUROPACIFIC GROWTH F P 2003-06-12 2015-06-08
c 1067.65-FHLMC POOL J11566 P 2011-01-04 2015-06-15
d 719.07-FHLMC SERIES 2622 PE P 2007-08-10 2015-03-15
e 2735.59-FHLMC SERIES 2764 P 2007-10-03 2015-03-15
2988.48-FNMA SERIES 2003-32 P 2007-12-11 2015-03-25
2216.312-LKCM SMALL CAP EQ INSTITUTI P 2006-06-08 2015-03-11
3703.704-TEMPLETON GLOBAL BOND FUND- P 2013-03-07 2015-01-13
50000-FEDERAL HOME LOAN BANKS 3. P 2014-11-07 2015-04-23
993.081-AMERICAN EUROPACIFIC GROWTH P 2003-06-20 2015-06-08
1575.56-FHLMC POOL J11566 P 2011-01-04 2015-04-15
736.53-FHLMC SERIES 2622 PE P 2007-08-10 2015-02-15
2788.99-FHLMC SERIES 2764 P 2007-10-03 2015-02-15
3169.02-FNMA SERIES 2003-32 P 2007-12-11 2015-05-25
1163.636-LKCM SMALL CAP EQ INSTITUTI P 2009-07-22 2015-03-11
450-UNION PACIFIC CORPORATION P 2013-11-20 2015-06-05
100000-FEDERAL NATL MTG ASSN 1 P 2014-09-09 2015-07-30
334.493-AMERICAN EUROPACIFIC GROWTH P 2003-07-10 2015-06-08
1697.19-FHLMC SER 3174 PX P 2006-09-22 2015-01-15
787.07-FHLMC SERIES 2622 PE P 2007-08-10 2015-06-15
477.69-FHLMC SERIES 2790 P 2007-08-31 2015-07-15
3404.73-FNMA SERIES 2003-32 P 2007-12-11 2015-07-25
662.084-LKCM SMALL CAP EQ INSTITUTIO P 2010-06-23 2015-03-11
12.033-VANGUARD 500 INDEX ADMIRAL P 2012-11-08 2015-01-13
1062.31-FNMA PASS-THRU BLLN MULTI P 2015-03-04 2015-07-25
800-APPLE COMPUTER INC P 2009-01-26 2015-03-05
5138.23-FHLMC SER 3174 PX P 2006-09-22 2015-05-15
837.9-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-07-15
900.88-FHLMC SERIES 2790 P 2007-08-31 2015-04-15
3937.23-FNMA SERIES 2003-32 P 2007-12-11 2015-06-25
1118.923-LKCM SMALL CAP EQ INSTITUTI P 2010-06-23 2015-03-27
FIRST INTERSTATE ST - SEE ATTACHED P 2015-01-01 2015-06-01
190521.79-FNMA POOL 469491 3.1300% P 2014-09-08 2015-04-25
100000-BANK OF NY MELLON P 2011-11-04 2015-03-15
6563.62-FHLMC SER 3174 PX P 2006-09-22 2015-03-15
933.67-FHLMC SERIES 2622 PE P 2007-08-10 2015-05-15
1208.65-FHLMC SERIES 2790 P 2007-08-31 2015-02-15
3952.38-FNMA SERIES 2003-32 P 2007-12-11 2015-02-25
1163.634-LKCM SMALL CAP EQ INSTITUTI P 2010-06-23 2015-04-23
FIRST INTERSTATE LT - SEE ATTACHED P 2014-01-01 2015-06-01
2705.46-FNMA POOL AB4090 P 2014-07-25 2015-03-25
645-CATERPILLAR INC P 2009-01-05 2015-03-31
6868.91-FHLMC SER 3174 PX P 2006-09-22 2015-02-15
3213.1-FHLMC SERIES 2715 NG P 2007-09-27 2015-07-15
1226.22-FHLMC SERIES 2790 P 2007-08-31 2015-06-15
3955.65-FNMA SERIES 2003-32 P 2007-12-11 2015-04-25
1890.136-LKCM SMALL CAP EQ INSTITUTI P 2010-07-29 2015-04-23
LITIGATION SETTLEMENT P 2014-01-01 2015-05-26
3198.02-FNMA POOL AB4090 P 2014-07-25 2015-01-25
530-CATERPILLAR INC P 2009-01-26 2015-03-31
7341.05-FHLMC SER 3174 PX P 2006-09-22 2015-04-15
3290.64-FHLMC SERIES 2715 NG P 2007-09-27 2015-06-15
1596.73-FHLMC SERIES 2790 P 2007-08-31 2015-05-15
8142.85-GNMA SERIES 2009-93 P 2009-12-09 2015-02-20
37481.22-MASTER ASSET SECURITIZATION P 2008-02-15 2015-05-25
3458.9-FNMA POOL AB4090 P 2014-07-25 2015-06-25
300-CATERPILLAR INC P 2009-10-14 2015-03-31
54.74-FHLMC SER 3640 1 P 2010-08-25 2015-02-15
3369.77-FHLMC SERIES 2715 NG P 2007-09-27 2015-05-15
3288.33-FHLMC SERIES 2790 P 2007-08-31 2015-03-15
0.155-GOOGLE INC - CL C P 2010-06-09 2015-05-12
50000-MERCK & CO. INC 4 P 2006-04-06 2015-03-01
3568.45-FNMA POOL AB4090 P 2014-07-25 2015-02-25
525-CATERPILLAR INC P 2012-08-03 2015-03-31
27.21-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-04-15
3450.52-FHLMC SERIES 2715 NG P 2007-09-27 2015-04-15
865.87-FHLMC SERIES 3221 P 2006-11-15 2015-02-15
0.531-GOOGLE INC - CL C P 2010-06-09 2015-05-11
8674.5-OPPENHEIMER INTERNATIONAL BON P 2012-12-21 2015-01-13
3870.68-FNMA POOL AB4090 P 2014-07-25 2015-07-25
100000-FED HOME LOAN BANK NOTES P 2010-03-17 2015-03-23
27.27-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-03-15
3532.93-FHLMC SERIES 2715 NG P 2007-09-27 2015-03-15
869.47-FHLMC SERIES 3221 P 2006-11-15 2015-03-15
1360-JOHNSON CONTROLS INC P 2011-07-27 2015-04-09
7633.587-OPPENHEIMER INTERNATIONAL B P 2013-03-07 2015-01-13
4267.39-FNMA POOL AB4090 P 2014-07-25 2015-05-25
710.29-FHLMC POOL J11566 P 2011-01-04 2015-01-15
27.94-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-02-15
3617.02-FHLMC SERIES 2715 NG P 2007-09-27 2015-02-15
1953.27-FHLMC SERIES 3221 P 2006-11-15 2015-04-15
1000-JOHNSON CONTROLS INC P 2011-12-27 2015-04-09
3022.79-RBSGC MTG PASS THRU CERTS P 2008-02-15 2015-03-25
4566.57-FNMA POOL AB4090 P 2014-07-25 2015-04-25
926.9-FHLMC POOL J11566 4 P 2011-01-04 2015-03-15
29.85-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-06-15
2530.54-FHLMC SERIES 2764 P 2007-10-03 2015-07-15
2198.46-FHLMC SERIES 3221 P 2006-11-15 2015-05-15
640-JOHNSON CONTROLS INC P 2012-09-18 2015-04-09
1989-SKYWORKS SOLUTIONS INC. P 2013-08-23 2015-03-31
238.949-VANGUARD 500 INDEX ADMIRAL P 2014-12-01 2015-06-08
946.06-FHLMC POOL J11566 P 2011-01-04 2015-07-15
31.78-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-07-15
2580.55-FHLMC SERIES 2764 P 2007-10-03 2015-06-15
3654.99-FHLMC SERIES 3221 P 2006-11-15 2015-06-15
1000-JOHNSON CONTROLS INC P 2013-04-10 2015-04-09
3725.782-TEMPLETON GLOBAL BOND FUND- P 2010-11-29 2015-01-13
443.243-VANGUARD 500 INDEX ADMIRAL P 2014-12-01 2015-01-13
957.86-FHLMC POOL J11566 P 2011-01-04 2015-05-15
35.41-FHLMC SERIES 2622 PE 4 P 2007-08-10 2015-05-15
2631.39-FHLMC SERIES 2764 P 2007-10-03 2015-05-15
4141.01-FHLMC SERIES 3221 P 2006-11-15 2015-07-15
50000-LILLY ELI & CO 5 P 2010-02-03 2015-06-08
1899.399-TEMPLETON GLOBAL BOND FUND- P 2012-09-18 2015-01-13
225-AMAZON.COM INC P 2014-02-05 2015-07-27
1031.13-FHLMC POOL J11566 P 2011-01-04 2015-02-15
717.29-FHLMC SERIES 2622 PE P 2007-08-10 2015-04-15
2683.06-FHLMC SERIES 2764 P 2007-10-03 2015-04-15
2823.84-FNMA SERIES 2003-32 P 2007-12-11 2015-01-25
208.481-LKCM SMALL CAP EQ INSTITUTIO P 2006-05-31 2015-03-11
5668.934-TEMPLETON GLOBAL BOND FUND- P 2012-12-21 2015-01-13
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 100,000   100,000  
b 3,024   1,502 1,522
c 1,068   1,115 -47
d 719   678 41
e 2,736   2,585 151
2,988   2,934 54
53,967   50,000 3,967
45,889   50,000 -4,111
50,000   50,000  
50,101   25,000 25,101
1,576   1,646 -70
737   695 42
2,789   2,635 154
3,169   3,111 58
28,335   16,000 12,335
45,997   35,758 10,239
100,000   98,580 1,420
16,875   8,394 8,481
1,697   1,681 16
787   742 45
478   419 59
3,405   3,342 63
16,122   11,242 4,880
2,247   1,532 715
1,062   1,134 -72
101,059   10,383 90,676
5,138   5,089 49
838   790 48
901   789 112
3,937   3,865 72
27,850   18,999 8,851
1,148,066   1,150,057 -1,991
190,522   200,599 -10,077
100,000   109,170 -9,170
6,564   6,500 64
934   881 53
1,209   1,059 150
3,952   3,880 72
29,870   19,759 10,111
1,311,528   1,290,678 20,850
2,705   2,804 -99
51,820   30,015 21,805
6,869   6,803 66
3,213   3,035 178
1,226   1,074 152
3,956   3,883 73
48,520   32,000 16,520
2,182     2,182
3,198   3,315 -117
42,581   17,860 24,721
7,341   7,270 71
3,291   3,109 182
1,597   1,399 198
8,143   8,502 -359
37,481   36,544 937
3,459   3,586 -127
24,102   16,354 7,748
55   55  
3,370   3,183 187
3,288   2,881 407
87   37 50
50,000   46,970 3,030
3,568   3,699 -131
42,179   45,104 -2,925
27   27  
3,451   3,260 191
866   856 10
282   128 154
51,353   57,338 -5,985
3,871   4,013 -142
100,000   100,000  
27   26 1
3,533   3,338 195
869   859 10
68,876   50,588 18,288
45,191   50,000 -4,809
4,267   4,424 -157
710   742 -32
28   26 2
3,617   3,417 200
1,953   1,931 22
50,644   31,030 19,614
3,023   2,925 98
4,567   4,734 -167
927   968 -41
30   28 2
2,531   2,391 140
2,198   2,173 25
32,412   18,227 14,185
196,008   50,023 145,985
46,000   45,434 566
946   989 -43
32   30 2
2,581   2,438 143
3,655   3,613 42
50,644   34,115 16,529
46,162   50,000 -3,838
82,753   84,278 -1,525
958   1,001 -43
35   33 2
2,631   2,486 145
4,141   4,093 48
53,974   53,925 49
23,534   25,300 -1,766
119,800   77,737 42,063
1,031   1,077 -46
717   677 40
2,683   2,535 148
2,824   2,772 52
5,077   4,833 244
70,238   75,000 -4,762
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        
b       1,522
c       -47
d       41
e       151
      54
      3,967
      -4,111
       
      25,101
      -70
      42
      154
      58
      12,335
      10,239
      1,420
      8,481
      16
      45
      59
      63
      4,880
      715
      -72
      90,676
      49
      48
      112
      72
      8,851
      -1,991
      -10,077
      -9,170
      64
      53
      150
      72
      10,111
      20,850
      -99
      21,805
      66
      178
      152
      73
      16,520
      2,182
      -117
      24,721
      71
      182
      198
      -359
      937
      -127
      7,748
       
      187
      407
      50
      3,030
      -131
      -2,925
       
      191
      10
      154
      -5,985
      -142
       
      1
      195
      10
      18,288
      -4,809
      -157
      -32
      2
      200
      22
      19,614
      98
      -167
      -41
      2
      140
      25
      14,185
      145,985
      566
      -43
      2
      143
      42
      16,529
      -3,838
      -1,525
      -43
      2
      145
      48
      49
      -1,766
      42,063
      -46
      40
      148
      52
      244
      -4,762
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 617,769
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -12,619
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 1,166,802 23,944,462 0.048730
2013 1,046,018 22,348,814 0.046804
2012 1,004,068 21,264,483 0.047218
2011 1,045,653 21,484,686 0.048670
2010 917,808 20,558,064 0.044645
2
Total of line 1, column (d) .....................
20.236067
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
0.047213
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
24,331,136
5
Multiply line 4 by line 3......................
5
1,148,746
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
10,542
7
Add lines 5 and 6........................
7
1,159,288
8
Enter qualifying distributions from Part XII, line 4.............
8
1,116,622
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 21,084
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 21,084
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 21,084
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 22,594
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 22,594
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,510
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,510 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletWY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletFIRST INTERSTATE BANK FSG Telephone no.bullet (307) 672-1498

    Located atbullet16 S MAIN STSHERIDANWY ZIP+4bullet82801
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JOHN M PRADERE VICE PRESIDE
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    ROBERT EBERHART SECY/TREAS
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    KY DIXON DIRECTOR
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    RICHARD HAMMER JR DIRECTOR
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    JACK E PELISSIER PRESIDENT
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    DEBRA WENDTLAND DIRECTOR
    2.00     		0 0 0
    PO BOX 6085
    SHERIDAN,WY82801
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    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
    FIRST INTERSTATE BANK INVESTMENT MGMT 120,848
    PO BOX 2007
    SHERIDAN,WY82801
    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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    23,977,676
    b
    Average of monthly cash balances.......................
    1b
    562,186
    c
    Fair market value of all other assets (see instructions)................
    1c
    161,799
    d
    Total (add lines 1a, b, and c).........................
    1d
    24,701,661
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    24,701,661
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    370,525
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    24,331,136
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,216,557
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,216,557
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    21,084
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    21,084
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,195,473
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,195,473
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,195,473
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,116,622
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,116,622
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,116,622
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 1,195,473
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 1,091,035
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 1,116,622
    a Applied to 2014, but not more than line 2a 1,091,035
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2015 distributable amount..... 25,587
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2015.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		1,169,886
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JOE AND ARLENE WATT FOUNDATION
    PO BOX 6085
    SHERIDAN,WY82801
    (307) 672-1498
    bThe form in which applications should be submitted and information and materials they should include:
    THE APPLICATION SHOULD BE IN WRITTEN FORM AND INCLUDE: 1. NAME, ADDRESS AND TAX ID NUMBER OF THE CHARITY, 2. DOCUMENTARY PROOF OF THE TAX EXEMPT STATUS OF THE CHARITY UNDER SECTION 501(C)(3) OF THE IRC OF 1954, OR AS AMENDED. 3. COPY OF THE MOST RECENT ANNUAL REPORT OF THE CHARITY IN THE FORM REQUIRED OF IT BY APPLICABLE SECTION OF THE INTERNAL REVENUE CODE. 4. DESCRIPTION OF THE CHARITABLE PURPOSE, OR PURPOSES, TO WHICH THE FUNDS FOR WHICH APPLICATION IS BEING MADE SHALL BE PUT.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    SHERIDAN SENIOR CENTER
    211 SMITH ST
    SHERIDAN,WY82801     		  EXEMPT DAY BREAK CAPITAL CAMPAIGN 200,000
    SHERIDAN COUNTY MEM HOSPITAL FOUND
    1401 W 5TH ST
    SHERIDAN,WY82801     		  EXEMPT CANCER CENTER 200,000
    JOEY'S FOUNDATION INC
    109 S MAIN SUITE B
    SHERIDAN,WY82801     		  EXEMPT CAPITAL PURCHASE 10,000
    UNIVERSITY OF WYOMING
    1000 E UNIVERSITY AVE
    LARAMIE,WY82071     		  EXEMPT LITERACY RESEARCH CENTER 100,000
    THE BRINTON MUSEUM
    PO BOX 460
    BIG HORN,WY82833     		  EXEMPT BUILDING FUND 50,000
    MARION DAYCARE LEARNING CENTER
    710 MARION ST
    SHERIDAN,WY82801     		  EXEMPT INFRASTRUCTURE IMPROVEMENTS 25,000
    CHILD ADVOCACY SERVICES
    PO BOX 6022
    SHERIDAN,WY82801     		  EXEMPT PLANNING & CAP CONSTRUCTION STUDY 10,000
    SHERIDAN HEALTH CENTER
    PO BOX 682
    SHERIDAN,WY82801     		  EXEMPT SUPPORT FOR MID-LEVEL PROVIDER 55,000
    CHILDREN'S CENTER
    863 HIGHLAND AVE
    SHERIDAN,WY82801     		  EXEMPT SCHOLARSHIP FUND 10,000
    TONGUE RIVER CHILD'S PLACE
    PO BOX 232
    RANCHESTER,WY82839     		  EXEMPT UNRESTRICTED 10,000
    SHERIDAN COLLEGE FOUNDATION
    PO BOX 6328
    SHERIDAN,WY82801     		  EXEMPT LARGE ANIMAL FACILITY 100,000
    SHERIDAN ON SKATES
    109 SOUTH MAIN ST
    SHERIDAN,WY82801     		  EXEMPT ICE ARENA CAPITAL CAMPAIGN 50,000
    PEOPLE'S ASSISTANCE FOOD BANK
    PO BOX 312
    SHERIDAN,WY82801     		  EXEMPT UNRESTRICTED 1,000
    FIRST LIGHT CHILD CARE INC
    PO BOX 6351
    SHERIDAN,WY82801     		  EXEMPT SCHOLARSHIP FUNDS 20,000
    LIFE LINK OF SHERIDAN COUNTY
    PO BOX 2095
    SHERIDAN,WY82801     		  EXEMPT WIRELESS & GOSAFE INSTALLATIONS 20,000
    REPRODUCTIVE HEALTHCARE BIG HORNS
    128 S THURMOND
    SHERIDAN,WY82801     		  EXEMPT CLINICAL ENHANCEMENT PROJECT 20,000
    SHERIDAN COMMUNITY TENNIS ASSOC
    37 HOME RANCH CIR
    SHERIDAN,WY82801     		  EXEMPT PUBLIC INDOOR RACQUET FACILITY 15,000
    SHERIDAN COUNTY LIBRARY FOUNDATION
    335 W ALGER ST
    SHERIDAN,WY82801     		  EXEMPT WYOMING ROOM DONATION 5,000
    STORY COMMUNITY LIBRARY INC
    PO BOX 188
    STORY,WY82842     		  EXEMPT EXPANDED COVERED WALKWAY PROJECT 5,000
    THE FOOD GROUP INC
    1 S TSCHIRGI
    SHERIDAN,WY82801     		  EXEMPT UNRESTRICTED 2,500
    WYO THEATER
    PO BOX 528
    SHERIDAN,WY82801     		  EXEMPT PERFORMING ARTS & EDUCATION CENTER 200,000
    Total .................................bullet 3a 1,108,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 548,640  
    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.....     15 12,105  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 617,769  
    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)..   1,178,514  
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,178,514
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MOHATT, RINALDO, JOHNSON & GODWI 1,800 1,350   450

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Name of Bond End of Year Book Value End of Year Fair Market Value
    GE CAPITAL FINANCIAL INC CD    
    AMERICAN EXPRESS CENTURION BANK 200,000 200,177
    FHLMC SER 3640    
    FHLMC SER 3174 PX    
    FHLMC SERIES 3221    
    FHLMC SERIES 2622 PE 11,720 12,848
    FNMA SERIES 2003-32 47,315 49,582
    FHLMC SERIES 2715NG 59,294 65,162
    FHLMC SERIES 2764 50,152 54,919
    FNMA POOL 469491    
    FHLMC POOL J11566 22,226 22,274
    FHLMC SERIES 2790 35,340 42,168
    FNMA POOL AB4090 180,375 180,489
    GNMA SERIES 2009-93    
    GNMA POOL SER 2010-14 14,878 15,012
    FANNIE MAE POOL FN 467626 197,240 194,555
    FANNIE MAE REMICS FNR 2015-96 256,901 256,430
    MERCK & CO. INC    
    BANK O NY MELLON    
    KIMBERLY-CLARK CORP    
    MEDTRONIC INC    
    MORGAN STANLEY    
    BB&T CORPORATION 49,800 50,608
    HARTFORD FINANCIAL GROUP    
    LILLY ELI & CO.    
    TARGET CORPORATION 99,170 106,467
    GEORGIA POWER COMPANY 149,676 159,043
    GOLDMAN SACHS GROUP INC/THE 202,660 191,437
    HARTFORD FINANCIAL SERVICES GROUP 95,276 104,497
    ROYAL BANK OF CANADA 99,280 99,867
    NUCOR CORPORATION 103,095 106,140
    GENERAL ELECTRIC CO 54,301 53,566
    DANAHER CORP 203,698 221,042
    PITNEY BOWES INC 102,393 105,293
    NATIONAL RURAL UTIL COOP 250,000 246,380
    NATIONAL RURAL UTIL COOP 119,622 119,518
    APACHE CORP 102,670 100,185
    BURLINGTON NORTHN SANTA FE 99,779 99,430
    COCA-COLA CO/THE 151,723 151,775
    WACHOVIA CORP FLOATING 98,893 99,715
    JP MORGAN CHASE & CO FLOATING 50,231 49,600
    GENERAL ELEC CAP CORP 200,000 200,515
    MASTER ASSET SECURITIZATION 64,907 67,482
    RBSGC MTG PASS THRU CERTS 8,554 9,126
    OPPENHEIMER INTERNATIONAL BOND FUND    
    TEMPLETON GLOBAL BOND FUND - AD    
    ISHARES S&P PREF STOCK INDEX FUND 249,364 242,813

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ALPHABET INC CAP STK CL A 69,750 194,502
    ALPHABET INC CAP STK CL C 69,409 189,720
    AMAZON.COM INC    
    AMERICAN EXPRESS CO 317,756 295,587
    APACHE CORP 206,741 222,350
    APPLE INC 311,277 594,719
    BAKER HUGHES INC 389,061 367,954
    BB&T CORP 194,379 217,975
    BERKSHIRE HATHAWAY INC CL B 148,224 244,274
    BRISTOL-MYERS SQUIBB CO 229,133 428,854
    CATERPILLAR INC    
    CELGENE CORP 153,186 433,531
    CHEVRON CORP 163,164 224,900
    CISCO SYSTEMS INC 202,445 325,860
    CITIGROUP INC 554,406 595,125
    COSTCO WHOLESALE CORP 102,103 306,850
    DEERE & CO 132,038 153,740
    EI DU PONT DE NEMOURS & CO 194,627 266,400
    EMC CORP 195,736 346,891
    EMERSON ELECTRIC CO 131,761 176,971
    EXXON MOBIL CORP 258,108 315,698
    FIREEYE INC 185,137 124,440
    FORD MOTOR CO 516,502 531,193
    GENERAL ELECTRIC CO 273,113 470,700
    GILEAD SCIENCES INC 181,032 436,230
    GOOGLE INC    
    GOOGLE INC - CL C    
    JACOBS ENGINEERING GROUP INC 279,229 223,384
    JOHNSON CONTROLS INC    
    JP MORGAN CHASE & CO 327,314 594,270
    MCKESSON CORP 125,298 281,452
    MICROSOFT CORP 273,453 499,320
    MONDELEZ INTERNATIONAL INC 148,583 308,183
    NATIONAL OILWELL VARCO INC    
    NORDSTROM INC 148,769 124,525
    PEPSICO INC 131,164 244,513
    PHILIP MORRIS INTERNATIONAL INC 151,579 195,646
    PROCTER & GAMBLE CO 296,628 357,345
    QUALCOMM INC 133,150 164,951
    SCHLUMBERGER LTD 161,229 182,650
    SKYWORKS SOLUTIONS INC 151,177 461,825
    TARGET CORP 274,785 376,919
    UNION PACIFIC CORP 239,104 234,600
    UNITED HEALTH GROUP INC 250,884 541,144
    US BANCORP 205,561 300,475
    VANGUARD 500 INDEX FUND 97,888 97,033
    WALT DISNEY CO 173,593 465,476
    LKCM SMALL CAP EQ INSTITUTIONAL    
    DFA US SMALL CAP PORTFOLIO 80,000 71,883
    MORGAN STANLEY INSTITUTIONAL FUND TR 167,751 205,701
    OPPENHEIMER MAIN STREET SMALL & MID 160,713 211,021
    T ROWE PRICE MID-CAP GROWTH FUND 170,312 266,317
    T ROWE PRICE MID-CAP VALUE FUND 192,393 225,101
    AMERICAN EUROPACIFIC GROWTH FUND 541,606 618,911
    GOLDMAN SACHS INTERNATIONAL SMALL CA 100,000 97,938
    HARBOR INTERNATIONAL FUND 449,531 555,604
    DFA EMERGING MARKETS SMALL CAP 51,985 43,841
    OPPENHEIMER DEVELOPING MARKETS FUND 450,000 383,691
    VANGUARD EMERGING MARKETS STOCK INDE 144,000 111,995
    VANGUARD MSCI EMERGING MARKETS ETF 207,873 163,550
    ROCHE HOLDINGS AG SPN ADR 300,636 386,064

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    US Government Securities - End of Year Book Value:

    1,947,987
    US Government Securities - End of Year Fair Market Value:

    1,975,761
    State & Local Government Securities - End of Year Book Value:


    393,769
    State & Local Government Securities - End of Year Fair Market Value:


    401,121


    TY 2015 InvestmentsOtherSchedule2
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MINERAL INTERESTS AT COST 2 178,284
    PRINCIPAL GLOBAL REAL ESTATE SEC AT COST 250,000 239,282
    DFA GLOBAL REAL ESTATE SECURITIES AT COST 25,000 24,616
    DFA COMMODITY STRATEGY PORTFOLIO AT COST 25,000 22,098

    TY 2015 OtherAssetsSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED DIVIDENDS AND INTEREST 2,570 24 24
    ROYALTIES RECEIVABLE 1,825 710 710
    PURCHASED INTEREST 4,210 1,530 1,530


    TY 2015 OtherExpensesSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    POST OFFICE BOX 146 73   73
    OFFICE SUPPLIES 823 411   412


    TY 2015 OtherIncomeSchedule2
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OIL & GAS ROYALTIES - GROSS 13,503 13,503  
    O&G PRODUCTION TAXES -1,398 -1,398  


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT 120,848 117,223   3,625
    OTHER PROFESSIONAL FEES 7,100 3,550   3,550


    TY 2015 TaxesSchedule
    Name:
    JOE AND ARLENE WATT FOUNDATION INC
    EIN:
    83-0330482
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SECRETARY OF STATE 25 13   12
    EXCISE TAXES 14,400      
    FOREIGN TAXES ON DIVIDENDS 1,687 1,687