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
WALLACE RESEARCH FOUNDATION
C/O RSM US LLP ATTN CARLEY UMSTEAD
Number and street (or P.O. box number if mail is not delivered to street address)221 THIRD AVE SE NO 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CEDAR RAPIDS, IA52401
A Employer identification number

42-6540579
B Telephone number (see instructions)

(319) 298-5333
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$79,709,746J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,018
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,738,003 1,738,003  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,541,622
b Gross sales price for all assets on line 6a 25,184,956
7 Capital gain net income (from Part IV, line 2)... 3,541,622
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........ 5,281,643 5,279,625  
Operating and Administrative Expenses 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)......... Click to see attachment 207 104   103
b Accounting fees (attach schedule)....... Click to see attachment 48,600 14,166   34,434
c Other professional fees (attach schedule).... Click to see attachment 435,071 435,071   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 72,097 32,097   0
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 4,104 4,104   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 560,079 485,542   34,537
25 Contributions, gifts, grants paid....... 3,943,040 3,943,040
26 Total expenses and disbursements. Add lines 24 and 25 4,503,119 485,542   3,977,577
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 778,524
b Net investment income (if negative, enter -0-) 4,794,083
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......... 4,713,303 6,377,586 6,377,586
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)      
b Investments—corporate stock (attach schedule)....... 35,387,311 Click to see attachment34,666,852 47,578,922
c Investments—corporate bonds (attach schedule)....... 854,461 Click to see attachment3,803,474 3,717,596
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 26,328,547 Click to see attachment23,220,116 21,996,338
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment43,625 Click to see attachment39,304 Click to see attachment39,304
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 67,327,247 68,107,332 79,709,746
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 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........ 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 67,327,247 68,107,332
30 Total net assets or fund balances (see instructions)..... 67,327,247 68,107,332
31 Total liabilities and net assets/fund balances (see instructions). 67,327,247 68,107,332
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
67,327,247
2
Enter amount from Part I, line 27a .....................
2
778,524
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,561
4
Add lines 1, 2, and 3 ..........................
4
68,107,332
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
68,107,332
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 PUBLICLY TRADED SECURITIES P    
b PUBLICLY TRADED SECURITIES P    
c BANK OF AMERICA SETTLEMENT P    
d CAPITAL GAINS DIVIDENDS P    
e
(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 9,370,547   9,793,197 -422,650
b 15,431,289   11,850,137 3,581,152
c 5,433     5,433
d 377,687     377,687
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       -422,650
b       3,581,152
c       5,433
d       377,687
e
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 3,541,622
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 3,296,223 81,700,907 0.040345
2013 2,922,773 77,636,385 0.037647
2012 4,157,179 74,746,776 0.055617
2011 3,518,346 75,433,652 0.046642
2010 3,233,585 70,375,172 0.045948
2
Total of line 1, column (d) .....................
20.226199
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
0.045240
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
81,834,914
5
Multiply line 4 by line 3......................
5
3,702,212
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
47,941
7
Add lines 5 and 6........................
7
3,750,153
8
Enter qualifying distributions from Part XII, line 4.............
8
3,977,577
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 47,941
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 47,941
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 47,941
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 49,698
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 20,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 69,698
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 21,757
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet21,757 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
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)
    bulletIA
    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 ofbulletCARLEY UMSTEAD Telephone no.bullet (319) 298-5333

    Located atbullet221 3RD AVE SE STE 300CEDAR RAPIDSIA ZIP+4bullet52401
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    HENRY D WALLACE PRESIDENT & SECRETARY
    5.00     		0 0 0
    221 THIRD AVE SE STE 300
    CEDAR RAPIDS,IA52401
    LINDA WALLACE-GRAY VP & TREASURER
    20.00     		0 0 0
    221 THIRD AVE SE STE 300
    CEDAR RAPIDS,IA52401
    ANGUS GILCHRIST DIRECTOR
    2.00     		0 0 0
    221 THIRD AVE SE STE 300
    CEDAR RAPIDS,IA52401
    ALEX GILCHRIST DIRECTOR
    2.00     		0 0 0
    221 THIRD AVE SE STE 300
    CEDAR RAPIDS,IA52401
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    EAGLE CAPITAL MANAGEMENT INVESTMENT MGMT 189,440
    499 PARK AVENUE
    NEW YORK,NY10022
    MORGAN STANLEY SMITH BARNEY INVESTMENT CONSULT'G 174,818
    370 17TH STREET STE 2800
    DENVER,CO80202
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    78,468,678
    b
    Average of monthly cash balances.......................
    1b
    4,612,453
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    83,081,131
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    83,081,131
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,246,217
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    81,834,914
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    4,091,746
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    4,091,746
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    47,941
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    47,941
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    4,043,805
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    1,561
    5
    Add lines 3 and 4............................
    5
    4,045,366
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    4,045,366
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    3,977,577
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    3,977,577
    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
    47,941
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,929,636
    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 4,045,366
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 3,966,333
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 3,977,577
    a Applied to 2014, but not more than line 2a 3,966,333
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 11,244
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		4,034,122
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011....  
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    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
    ARCHAEOLOGY SOUTHWEST
    4550 CAMINITO CALLADO
    TUCSON,AZ85718     		NONE PC TO SUPPORT THE ENDOWMENT OF THE PRESERVATION ARCHAEOLOGY FUTURE FUND 512,500
    ARCHAEOLOGY SOUTHWEST
    4550 CAMINITO CALLADO
    TUCSON,AZ85718     		NONE PC FOR ORGANIZATIONAL DEVELOPMENT AND PROGRAM INITIATIVES 200,000
    ARIZONA STATE UNIVERSITY
    PO BOX 876011
    TEMPE,AZ85287     		NONE PC TO FUND RESEARCH OF PREHISPANIC CULTURES IN NORTHWEST MEXICO AND THE AMERICAN SOUTHWEST 90,000
    CARNEGIE MELLON UNIVERSITY
    500 FORBES AVEWQED 2013
    PITTSBURGH,PA15213     		NONE PC TO SUPPORT A POSTDOCTORAL RESEARCHER TO RESEARCH ORGANIC MOLECULES IN THE EARTH'S ATMOSPHERE 180,000
    CONQUER CHIARI
    320 OSPREY CT
    WEXFORD,PA15090     		NONE PC TO FUND RESEARCH OF CHIARI MALFORMATION 40,000
    CORAL RESTORATION FOUNDATION
    5 SEAGATE BOULEVARD
    KEY LARGO,FL33037     		NONE PC TO SUPPORT THE RECRUITMENT AND HIRING OF AN EXPERIENCED EXECUTIVE DIRECTOR 187,000
    DELAWARE RIVERKEEPER NETWORK
    925 CANAL ST STE 3701
    BRISTOL,PA19007     		NONE PC TO MONITOR AND PROTECT THE DELEWARE RIVER FROM GAS DRILLING IMPACTS 200,000
    FAIREWINDS ENERGY EDUCATION CORP
    70 SOUTH WINOOSKI BOX 289
    BURLINGTON,VT05401     		NONE PC EDUCATIONAL OUTREACH TEACHING ABOUT NUCLEAR ENGINEERING, NUCLEAR POWER, AND NUCLEAR SAFETY ISSUES 150,000
    FRIENDS OF SOUTH GEORGIA ISLAND
    25 DAKOTA MEADOWS DRIVE
    CARBONDALE,CO81623     		NONE PC TO SUPPORT THE ERADICATION OF INVASIVE RODENTS ON SOUTH GEORGIA ISLAND 50,000
    HAWK MOUNTAIN SANCTUARY ASSOCIATION
    1700 HAWK MOUNTAIN RD
    KEMPTON,PA19529     		NONE PC TO STUDY THE MOVEMENT ECOLOGY OF SCAVENGING BIRDS OF PREY IN ARIZONA AND AFRICA 55,000
    HUMANE SOCIETY INTERNATIONAL
    2100 L STREET NW
    WASHINGTON,DC20037     		NONE PC TO PROVIDE VETERINARY SERVICES TO RURAL COMMUNITIES IN COSTA RICA 55,000
    HUMANE SOCIETY INTERNATIONAL
    2100 L STREET NW
    WASHINGTON,DC20037     		NONE PC TO PROVIDE VETERINARY SERVICES TO UNDERSERVED COMMUNITIES IN BELIZE 60,000
    HUMANE SOCIETY OF SOUTHERN ARIZONA
    3450 N KELVIN BLVD
    TUCSON,AZ85716     		NONE PC TO SUPPORT SPAY AND NEUTER SURGERIES, TREATMENT, REHABILITATION, AND RE-HOMING OF ANIMALS 150,000
    HUMANE SOCIETY OF SOUTHERN ARIZONA
    3450 N KELVIN BLVD
    TUCSON,AZ85716     		NONE PC TO SUPPORT SPAY AND NEUTER SURGERIES AND VACCINATION CLINICS IN SOUTHERN ARIZONA 24,000
    ISLAND CONSERVATION
    2161 DELAWARE AVENUE STE A
    SANTA CRUZ,CA95060     		NONE PC TO PROTECT THE CRITICALLY ENDANGERED SPECIES OF RICORD IGUANA AND THE RHINOCEROS IGUANA 50,000
    MASSACHUSETTS AUDUBON SOCIETY
    208 S GREAT RD
    LINCOLN,MA01773     		NONE PC TO SUPPORT LONG-TERM CONSERVATION EFFORTS AND OUTREACH ACTIVITIES AT PAYNE'S CREEK NATIONAL PARK 100,000
    MASSACHUSETTS GENERAL HOSPITAL
    125 NASHUA STREET SUITE 540
    BOSTON,MA02114     		NONE PC TO RESEARCH INFASTRUCTURE FOR SYSTEMS MEDICINE 100,000
    NORTHERN JAGUAR PROJECT
    2114 W GRAND RD STE 121
    TUCSON,AZ85745     		NONE PC FOR INFRASTRUCTURE IMPROVEMENTS AT THE NORTHERN JAGUAR RESERVE IN SONORA, MEXICO 50,000
    POUGHKEEPSIE FARM PROJECT
    PO BOX 3143
    POUGHKEEPSIE,NY12603     		NONE PC TO FUND FARM TO SCHOOL PROGRAM EXPANSION AND FOR FARM REPAIRS, IMPROVEMENTS, AND MAINTENANCE 210,000
    RADIATION AND PUBLIC HEALTH PROJECT INC
    716 SIMPSON AVENUE
    OCEAN CITY,NJ08226     		NONE PC TO CONDUCT A STUDY ON THE HEALTH OF FETUSES, INFANTS, AND YOUNG CHILDREN IN RURAL PENNSYLVANIA 10,000
    REGIONAL FOOD BANK
    965 ALBANY-SHAKER RD
    LATHAM,NY12110     		NONE PC TO SUPPORT THE RETAIL STORE DONATION PROGRAM FOR THE FOOD BANK OF THE HUDSON VALLEY 20,000
    RIVERKEEPER INC
    20 SECOR RD
    OSSINING,NY10562     		NONE PC TO SUPPORT POLLUTION INVESTIGATION AND ENFORCEMENT 90,000
    RURAL & MIGRANT MINISTRY INC
    PO BOX 4757
    POUGHKEEPSIE,NY12602     		NONE PC TO FUND RURAL YOUTH LEADERSHIP DEVELOPMENT, EDUCATION AND GENERAL PROGRAM DEVELOPMENT 86,868
    RUTGERS UNIVERSITY
    3 RUTGERS PLAZA ASB III 2ND FLOOR
    NEW BRUNSWICK,NJ08901     		NONE PC FOR THE STUDY OF SENSORY PROCESSING DISORDER USING NEW ANALYTICS AND WEARABLE SENSING DEVICES 18,000
    SAFINA CENTER
    SOMAS NASSAU HALL 111
    STONY BROOK,NY11794     		NONE PC TO FUND THREE FELLOWSHIPS AND BASIC PROGRAM MANAGEMENT AND OUTREACH TO ADVANCE OCEAN CONSERVATION 50,000
    SCIENTEK-12 FOUNDATION
    3247 N CHRISTMAS AVE
    TUCSON,AZ85716     		NONE PC TO SUPPORT EDUCATIONAL OUTREACH PROGRAMS TO K-12 STUDENTS IN UNDER-SERVED AND RURAL AREAS IN ARIZONA 75,000
    SPD FOUNDATION
    5420 S QUEBEC ST STE 135
    GREENWOOD VILLAGE,CO80111     		NONE PC TO FURTHER RESEARCH RELATED TO SENSORY PROCESSING DISORDER 60,000
    THE NATURE CONSERVANCY - ALASKA
    715 L ST STE 100
    ANCHORAGE,AK99501     		NONE PC FOR GENERAL SUPPORT OF CONSERVATION EFFORTS IN ALASKA 80,000
    THE NATURE CONSERVANCY - ARIZONA
    7600 N 15TH ST STE 100
    PHOENIX,AZ85020     		NONE PC FOR CAPITAL NEEDS TO IMPROVE ARIZONA PRESERVES AND PROGRAM EFFICIENCY 70,000
    THE NATURE CONSERVANCY - TENNESSEE
    210 25TH AVENUE NORTH STE 810
    NASHVILLE,TN37203     		NONE PC FOR WHITE NOSE SYNDROME RESEARCH AND MITIGATION, AND CAVE AND KARST CONSERVATION EFFORTS IN TENNESSEE 65,000
    TOHONO CHUL PARK
    7366 PASEO DEL NORTE
    TUCSON,AZ85704     		NONE PC TO SUPPORT GARDENS, FACILITIES, AND CONSERVATION EDUCATION INITIATIVES 150,000
    TOHONO CHUL PARK
    7366 PASEO DEL NORTE
    TUCSON,AZ85704     		NONE PC TO SUPPORT GARDENS AND TO FUND CONSTRUCTION OF THE PARKING EXPANSION/PAVILION PROJECT 100,000
    TUCSON BOTANICAL GARDENS
    2150 N ALVERNON WAY
    TUCSON,AZ85712     		NONE PC TO SUPPORT GARDENS, FACILITIES, AND CONSERVATION EDUCATION INITIATIVES 35,000
    UNION OF CONCERNED SCIENTISTS
    2 BRATTLE SQUARE
    CAMBRIDGE,MA02138     		NONE PC TO EMPOWER SCIENTISTS AND ENVIRONMENTAL GROUPS TO ADDRESS CHEMICAL SAFETY IN THE HOUSTON AREA 15,000
    UNIVERSITY OF CALIFORNIA - SAN FRANCISCO
    1855 FOLSOM ST MCB 425 BOX 0897
    SAN FRANCISCO,CA94143     		NONE PC TO FURTHER RESEARCH OF ATTENTION IN SENSORY PROCESSING DISORDER 20,000
    UNIVERSITY OF CALIFORNIA - SAN FRANCISCO
    1855 FOLSOM ST MCB 425 BOX 0897
    SAN FRANCISCO,CA94143     		NONE PC TO RESEARCH SENSORY PROCESSING DISORDER AND THE ABILITY TO PREDICT BEHAVIORAL SENSORY FUNCTION 40,000
    UNIVERSITY OF CALIFORNIA - SAN FRANCISCO
    1855 FOLSOM ST MCB 425 BOX 0897
    SAN FRANCISCO,CA94143     		NONE PC TO FURTHER RESEARCH OF SENSORY PROCESSING DISORDER AND PHENOTYPING 30,000
    UNIVERSITY OF IOWA FOUNDATION
    PO BOX 4550
    IOWA CITY,IA52244     		NONE PC TO FUND A POSITION AT THE BELIN-BLANK CENTER 30,000
    UNIVERSITY OF NORTH CAROLINA - CHAPEL HILL
    104 AIRPORT DRIVE SUITE 2200 CB
    1350
    CHAPEL HILL,NC27599     		NONE PC TO SUPPORT THE INHERIT PROGRAM FOR ARCHAEOLOGICAL RESEARCH OF MAYA CULTURAL HERITAGE 50,000
    UNIVERSITY OF ROCHESTER
    PO BOX 270140
    ROCHESTER,NY14627     		NONE PC TO SUPPORT RESEARCH OF CROSS-SENSORY COMMUNICATION AND GATING IN SENSORY PROCESSING DISORDER 30,000
    UNIVERSITY OF WISCONSIN - MADISON
    21 N PARK ST STE 6401
    MADISON,WI53715     		NONE PC TO FURTHER RESEARCH AND PUBLISH RESEARCH OF SENSORY PROCESSING DISORDERS 9,924
    VANDERBILT UNIVERSITY
    PO BOX 121236
    DALLAS,TX75312     		NONE PC TO FURTHER RESEARCH RELATED TO SENSORY PROCESSING DISORDER 19,749
    WAKE FOREST UNIVERSITY OF HEALTH SCIENCES
    MEDICAL CENTER BLVD
    WINSTONSALEM,NC27157     		NONE PC TO FURTHER RESEARCH OF SENSORY PROCESSING DISORDER BY STUDYING DEVELOPMENTAL DISRUPTIONS 24,999
    WILDCOAST
    925 SEACOAST DR
    IMPERIAL BEACH,CA91932     		NONE PC TO SUPPORT CONSERVATION OF COASTAL ECOSYSTEMS AND WILDLIFE ON MEXICO'S PACIFIC COASTLINE 55,000
    WILDLIFE ALLIANCE INC
    1441 BROADWAY FIFTH FLOOR
    NEW YORK,NY10018     		NONE PC TO SUPPORT ENDING WILDLIFE TRAFFICKING IN SOUTHEAST ASIA 50,000
    WILDLIFE CONSERVATION SOCIETY
    2300 SOUTHERN BLVD
    BRONX,NY10460     		NONE PC FOR SUSTAINABLE MANAGEMENT EFFORTS IN THE SOLOMON ISLANDS 100,000
    YOUTH OUTDOOR EXPERIENCE
    439 N 6TH AVE 187
    TUCSON,AZ85705     		NONE PC TO SUPPORT AND IMPLEMENT A STRATEGIC MARKETING FUNDRAISING PLAN 50,000
    ZOOLOGICAL SOCIETY OF SAN DIEGO
    PO BOX 120551
    SAN DIEGO,CA92112     		NONE PC TO SUPPORT THE TROPICAL ECOLOGY AND MANAGEMENT FIELD COURSE 45,000
    Total .................................bullet 3a 3,943,040
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 1,738,003  
    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 3,541,622  
    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 5,279,625 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    135,279,625
    (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:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 48,600 14,166   34,434

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Name of Bond End of Year Book Value End of Year Fair Market Value
    VERIZON COMMUNICATIONS 265,753 261,423
    FORD MOTOR CREDIT CO LLC 255,795 250,358
    AT&T INC 279,254 275,812
    PITNEY BOWES INC 280,677 273,430
    TIME WARNER INC 111,730 108,118
    AMEGEN INC 263,027 257,292
    JP MORGAN CHASE & CO 274,766 270,038
    GENERAL MILLS INC 258,326 250,187
    CVS HEALTH CORP 262,571 254,390
    YUM!BRANDS INC 255,702 221,415
    HARLEY-DAVIDSON INC 257,009 251,188
    CELGENE CORP 254,593 248,987
    2267 GMAC CAP TRUST I 8.125% TO 2/1/16 FLOATS AFTER 58,464 57,491
    2307 CITIGROUP CAPT XIII 7.875% FIX ED 10/30/15 FLOATS AFTER 61,513 59,959
    1831 KKR FINANCIAL HOLDINGS 8.375 48,135 48,467
    2166 AVIVA PLC 8.25 59,066 57,334
    765 AEGON NV 8% 20,912 21,068
    1095 RAYMOND JAMES FINANCIAL 29,191 29,193
    1385 HARTFORD FINL SVC GRP 7.875% TO 4/15/22 FLOATS AFTER 40,332 43,766
    570 AMERICAN FINANCIAL GROUP 14,999 14,854
    1089 AFFILIATED MANAGERS GROUP INC 6.375% 27,918 29,033
    2620 REINSURANCE GROUP AMERICA INC 71,876 76,085
    300 APOLLO INVESTMENT CORP 6.625% 7,410 7,623
    305 SOLOAR CAPITAL LTD 6.75% 7,227 7,588
    865 APOLLO INVESTMENT CORP6.875% 21,891 21,677
    288 SCE TR IV 5.375%-J 7,268 7,822
    570 QWEST CORP 14,729 14,495
    1085 QWEST CORP 27,365 27,841
    1700 QWEST CORP 6.875% 44,277 43,775
    285 AMTRUST FINANCIAL SERVICES INC 7.50% 7,017 7,373
    575 QWEST CORP 6.625% 14,231 14,479
    290 AMERICAN FINANCIAL GROUP 7,264 7,444
    1705 TELEPHONE & DATA SYSTEMS 42,035 43,067
    530 GOLDMAN SACHS GROUP INC NT 6.5% 13,636 13,939
    1070 DTE ENERGY CO SER I 28,796 28,409
    280 UNITED STATE CELLULAR CORP 7.25% 7,195 7,179
    295 UNITED STATES CELLULAR CORP 7.25% 7,346 7,407
    2335 INTEGRYS ENERGY INC 6.00% FXD TO 8/1/23 FLTS THEREAFTER 58,385 60,199
    575 THE SOUTHERN CO 6.25%-A 14,269 15,462
    852 ASSURED GUARNITY MUNI HLDGS INC NT MTY 21,524 21,929

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Name of Stock End of Year Book Value End of Year Fair Market Value
    17368 ACCOR S A SPONS ADR NEW 167,447 151,102
    3461 AERCAP HOLDINGS N.V 167,851 149,377
    2714 ARM HOLIDINGS PLC ADS 123,466 122,781
    11167 ATLANTIA SPA UNSPONS ADR 152,031 147,404
    14931 AVIVA PLC ADR 252,792 227,100
    1953 CHINA MOBILE LTD 113,235 110,012
    2153 CME GROUP INC 201,890 195,062
    22588 COMPAGNIE DE ST GOBAIN UNSP 204,720 195,273
    6769 COMPASS GROUP PLC 110,151 119,270
    2102 CTRIP.COM INTL LTD 77,025 97,386
    2138 DELPHI AUTOMOTIVE PLC 182,246 183,291
    22703 DEUTSCHE BOERSE AG UNSPON ADR 192,294 198,651
    9581 EAST JAPAN RY CO ADR 151,535 150,278
    6095 FRESENIUS SE & CO SPN ADR 107,594 108,796
    1247 HDFC BANK LTD ADR 72,991 76,815
    2568 HEINEKEN NV SPN ADR 103,735 109,782
    5475 HONG KONG EXCHANGES & CLEARING 147,330 139,448
    2671 IBERDROLA SA SPON ADR 75,530 75,643
    15371 ING GROEP NV ADR 204,411 206,894
    1692 INTERNATIONAL CONS AIRLS GRP 73,675 75,717
    10282 INTESA SANPAOLO S.P.A ADR 216,799 205,486
    4245 ITV PLC UNSPONS ADR 151,526 172,878
    15300 JAPAN EXCHANGE GROUP INC 116,160 120,411
    1387 KANSAS CY SOUTHN IND NEW 145,777 103,567
    3759 KOREA ELECTRIC POWER CORP ADS 73,675 79,578
    4104 LIBERTY GLOBAL PLC CL A NEW 170,982 173,845
    37631 LLOYDS BANKING GROUP 173,892 164,071
    7619 LONDON STK EXCHANGE GROUP 74,964 78,857
    1215 NATL GRID TRANSCO PLC ADS 82,225 84,491
    1927 NESTLE SPON ADR REP REG SHR 145,148 143,407
    2793 NELSEN HLDGS PLC 126,749 130,154
    7739 NIPPON TELEGRAPH&TELEPHONE ADS 264,012 307,548
    18018 NOKIA CP ADR 132,672 126,486
    1494 NOVARTIS AG ADR 136,231 128,544
    3105 NOVO NORDISK A/S ADR 109,792 180,338
    1907 NXP SEMICONDUCTORS 182,153 160,665
    508 PERRIGO CO LTD 75,046 73,508
    5996 RECKITT BENCKISER PLC SPNS ADR 112,250 112,365
    4211 RENAULT S A ADR 65,458 84,873
    4674 ROCHE HOLDINGS ADR 163,179 161,113
    7290 SONY CORP ADR 1974 NEW 196,638 179,407
    8255 SUEX ENVIRONMENT UNSPON ADR 72,724 78,010
    30025 SUMITOMO MITSUI TR HLDGS INC 135,455 114,245
    18615 TELECOM ITALIA SPA ADS 234,723 235,480
    1811 TOYOTA MOTOR CP ADR NEW 246,056 222,825
    8667 UBS GROUP AG SHS 178,766 167,880
    11457 VINCI SA ADR 174,927 183,827
    4641 VIVENDI SA UNSPON ADR 113,427 99,085
    12000 FIRST TR ISE WTR INDEX FD 402,328 361,320
    27738 FIRST TRUST AMEX BIOTECH 1,996,450 3,134,949
    85218 FIRST TRUST ENERGY INFRASTRU 1,722,680 1,243,335
    25000 SPDR S&P DIVIDEND 1,358,771 1,839,250
    18300 SPDR S&P MIDCAP 400 ETF TRUST 2,119,110 4,648,932
    28710 VANGUARD HEALTH CARE ETF 2,788,596 3,814,985
    22774 VANGUARD RUSSELL 1000 1,751,927 2,322,948
    8000 VANGUARD S&P SMALL CAP 600 ETF 838,241 793,200
    830 AEGON NV 6.3750% SERIES 21,239 21,397
    1222 AEGON NV SERIES 1 25,913 29,491
    560 ALLSTATE CORP 6.625%-E 15,092 15,540
    280 ALLSTATE CORP DEP SHS 1/1000 7,528 7,750
    541 ALLY FINAL 8.5% FXD THEN FLOATS 14,362 13,925
    1055 ARCH CAPTIAL GRP LTD 6.75% 25,509 28,369
    1370 ASPEN INSC HLDGS LTD PERP PFD 36,016 34,524
    820 ASPEN INSURANCE HLDG LTD 19,971 21,148
    1655 BANK OF AMERICA CORP 6.5%-Y 42,319 44,222
    1120 BANK OF AMERICAN 6.625%-W 27,887 29,949
    835 BARCLAYS BK PLC 6.625 SER2 20,407 21,610
    1090 CAPITAL ONE FINL CORP 6.70%-D 28,471 30,030
    2190 CHS INC 55,454 58,714
    2140 CHS INC 58,160 58,358
    2146 CITIGROUP INC 6.875%-K 56,403 59,788
    515 CITIGRP INC 7.125% 13,003 14,425
    1668 DEUTSCHE BK CONT CAP III 7.60% 45,066 44,102
    1133 DEUTSCHE BK CONT CAP II 6.55% 30,293 29,073
    1025 DEUTSCHE BK CONT CAP TR V 8.05 29,410 27,839
    550 DIGITAL REALITY TR INC 7% SER-E 14,859 14,207
    1065 DIGITAL REALITY TRUST 7.375%-H 28,484 28,691
    295 ENDURANCE SPECIALTY 6.35%-C 7,323 7,570
    1655 ENDURANCE SPECIALITY HLDG 7.50% 41,745 42,715
    280 EPR PPTYS PRF CONV SER F% 7,025 7,087
    1005 F N B CORP FLA DEP SHS REPSTG 27,351 29,386
    1572 FIFTH THIRD BANCORP 6.625%-I 40,472 45,431
    2716 FIRST NIAGARA FIN GP 8.625%-B 76,010 74,038
    1760 GOLDMAN SACHS GROUP PFD D 35,274 35,904
    1735 GOLDMAN SACHS GRP INC 5.50%-J 41,454 44,919
    1625 GOLDMAN SACHS GRP INC 6.375%-K 40,927 45,159
    635 HSBC USA INC PFD SR F 13,843 14,021
    850 ING GROEP NV 6.375% 21,463 21,913
    840 ING GROEP NV 6.2% SER 19,709 21,420
    575 JP MORGAN CHASE & CO 6.1%-Y 14,247 14,887
    305 JPMORGAN CHASE & CO 6.125%-T 7,611 7,967
    1070 JPMORGAN CHASE & CO 6.70%-T 28,319 29,403
    585 MORGAN STANLEY 6.375%-I 14,999 15,542
    1045 MORGAN STANLEY 6.875%-F 27,668 29,030
    1560 MORGAN STANLEY 7.125%-E 42,561 44,662
    1457 MORGAN STANLEY SER-A 27,913 30,291
    1615 NATIONAL RETAIL PROP 6.625%-D 40,092 42,168
    2120 PARTNERRE LTD 7.25% 54,810 60,568
    3650 PNC FINL P 6.125% FLTS 5/01/22 92,825 104,207
    1455 PS BUSN PARKS 6.00% SER T 36,537 37,161
    290 RBS CAP FNDG TRUST V 5.9% 7,135 7,116
    885 RBS CAP FNDG TRUST VII 6.08% G 20,196 22,063
    1105 REGENCY CENTERS 6.625% SER 6 28,070 29,084
    270 REGIONS FINANCIAL CO 6.375%-B 7,081 7,325
    1145 ROYAL BK SCOTLAND GRP 6.125% 28,465 28,671
    1700 ROYAL BK SCOTLAND GRP PLC 6.60 40,782 43,180
    620 SANTANDER FINANCE PRF SA FLR 11,241 14,117
    1110 STATE ST CO 5.90-D FXD-TO-FLT 28,380 30,725
    510 SYNOVUS FIN CP 7.875 PFD 14,194 14,236
    755 UBS PFD RDG TR IV FLTG RT 11,618 14,705
    1922 US BANCORP 6%-G FLTS 4/15/17 52,330 51,548
    1770 US BANCORP-F 6.5% FLTS 1/15/22 47,582 50,834
    570 VALLEY NATL BANCORP SER-A 14,226 15,618
    1180 VEREIT INC PFD SER F 27,974 29,028
    2585 WELLS FARGO & COMPANY 6.625%-R 70,069 74,267
    1775 WELLS FARGO 8% NON-CUM SER J 50,781 49,842
    1415 WINTRUST FINANCIAL CORP 35,512 37,625
    1360 ZIONS BANCORP 6.30% 35,605 35,535
    255 ZIONS BANCORP PFD 7.9% SER F 7,070 6,829
    7050 ALIBABA GROUP HLDG LTD 578,563 572,954
    635 ALPHABET INC CL A 173,384 494,036
    1536 ALPHABET INC CL C 653,830 1,165,640
    1475 AMAZON COM INC 437,648 996,938
    11851 AON PLC SHS CL-A 581,647 1,092,781
    131 ASCENT CAPITAL GROUP A COM 2,978 2,190
    26500 BANK OF AMERICA CORP 441,595 445,995
    7198 BERKLEY W R CORP 193,225 394,090
    12025 BERKSHIRE HATHAWAY CL-B NEW 1,138,258 1,587,781
    21000 CITIGROUP INC NEW 1,006,869 1,086,750
    1650 CONSTELLATION BRANDS INC CL A 72,741 235,026
    6500 DISCOVERY COMMUNICATIONS SER C 219,784 163,930
    11900 DISH NETWORK CLASS A 556,159 680,442
    10300 ECOLAB INC 429,500 1,178,114
    2350 GOLDMAN SACHS GRP INC 254,523 423,540
    7700 JPMORGAN CHASE & CO 445,119 508,431
    35236 LIBERTY GLOBAL PLC CL C NEW 400,429 1,436,572
    1761 LIBERTY GLOBAL PLC LILAC C 20,224 75,723
    27800 MICROSOFT CORP 780,884 1,542,344
    15900 MONELEZ INTL INC COM 341,429 712,956
    18600 MORGAN STANLEY 271,346 591,666
    37100 ORACLE CORP 1,148,123 1,355,263
    3500 PEPSICO INC NC 416,948 649,480
    5400 THERMO FISHER SCIENTIFIC 241,859 765,990
    35000 TWENTY-FIRST CENTURY FOX CL B 1,031,129 953,050
    6733 UNITEDHEALTH GP INC 204,445 792,070
    5925 VALEANT PHARMACEUTIC INTL INC 778,420 602,276

    TY 2015 InvestmentsOtherSchedule2
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    322609.995 JP MORGAN LIMITED DUR BD SEL AT COST 3,201,521 3,213,196
    358645.730 JP MORGAN STRAT INC OPP SEL AT COST 4,264,310 3,977,381
    250359.402 LOOMIS SAYLES STRATEGIX INC Y AT COST 4,044,960 3,417,406
    164555.133 LORD ABBETT FLT RT F AT COST 1,561,628 1,446,439
    1069760.807 LORD ABBETT SHT BURATION INC F AT COST 4,904,430 4,610,669
    452134.599 MAINSTAY HI YLD CORP BOND I AT COST 2,156,613 2,396,313
    97345.628 MATTHEWS ASIA DIVIDEND INV AT COST 1,547,650 1,495,229
    91576.321 TEMPLETON GLOBAL BD FD ADV AT COST 1,206,738 1,055,875
    1091.18 ARTISAN FUNDS INC MID CAP VALUE FD INV SHS ARTQX AT COST 21,091 20,460
    1156.586 ARTISAN FDS INC INTERNAITIONAL FUND INV ARTIX AT COST 24,486 33,171
    2239.123 DIAMOND HILL LONG-SHORT FUND CL I DHLSX AT COST 35,648 53,224
    7231.061 DODGE & COX INCOME FD DODIX AT COST 94,667 96,101
    1516.232 HARRIS ASSOC INVT TR OAKMARK INTL FUND CL I OAKIX AT COST 20,943 32,387
    722.369 JPMORGAN MID CAP VALUE FUND CL I FLMVX AT COST 15,130 24,539
    3433.47 ROYCE FUND PENNSYLVANIA MUTUAL FD INVESTMENT CL PENNX AT COST 30,037 32,034
    1183.392 PIMCO FDS PAC INVT MGMT SER EMERGING MKTS BD RD INSTL CL PEBIX AT COST 13,160 11,017
    2765.394 PRINICIPAL FUNDS INC PREFERRED SECURITIES INSTAL CLASS PPSIX AT COST 27,677 27,930
    1037.51 TEMPLETON INCOME TR GLOBAL BD FD ADVISOR CL TGBAX AT COST 13,104 11,962
    895.639 TWEEDY BROWNE FD INC GLOBAL VALUE FD TBGVX AT COST 17,619 21,907
    1791.54 VANGUARD GNMA FD CL I VFIIX AT COST 18,704 19,098

    TY 2015 LegalFeesSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 207 104   103


    TY 2015 OtherAssetsSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DIVIDEND RECEIVABLE 43,625 39,304 39,304


    TY 2015 OtherExpensesSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK SERVICE CHARGES 211 211   0
    ADR FEES 3,893 3,893   0


    TY 2015 OtherIncreasesSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Description Amount
    RETURN OF PRIOR YEAR GRANTS 1,561


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SB INVEST CONSULTING FEES 174,818 174,818   0
    INVESTMENT MANAGEMENT FEES 260,253 260,253   0


    TY 2015 TaxesSchedule
    Name:
    WALLACE RESEARCH FOUNDATION
     
    C/O RSM US LLP ATTN CARLEY UMSTEAD
    EIN:
    42-6540579
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 32,097 32,097   0
    EXCISE TAXES 40,000 0   0