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
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
GRACE & FRANKLIN BERNSEN FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)15 WEST 6TH STREET 1308   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TULSA, OK741195407
A Employer identification number

23-7009414
B Telephone number (see instructions)

(918) 584-4711
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$28,417,008J Accounting method:
MODIFIED CASH
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...... 798,651 798,651 798,651
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 242,248
b Gross sales price for all assets on line 6a 12,470,517
7 Capital gain net income (from Part IV, line 2)... 242,248
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 31,589   31,589
12 Total. Add lines 1 through 11........ 1,072,488 1,040,899 830,240
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 247,500 44,550 44,550 202,950
14 Other employee salaries and wages...... 52,041 9,367 9,367 42,674
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 9,702 1,940 1,940 7,762
c Other professional fees (attach schedule).... Click to see attachment 30,650 30,650 30,650  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 17,051 17,051 17,051  
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 14,844 2,672 2,672 12,172
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 19,520 2,147 2,147 17,372
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 391,308 108,377 108,377 282,930
25 Contributions, gifts, grants paid........ 1,531,448 1,531,448
26 Total expenses and disbursements. Add lines 24 and 25 1,922,756 108,377 108,377 1,814,378
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -850,268
b Net investment income (if negative, enter -0-) 932,522
c Adjusted net income (if negative, enter -0-)... 721,863
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
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............... 49,913 30,822 30,822
2 Savings and temporary cash investments.......... 185,583 263,251 263,251
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)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet18,820
Less: accumulated depreciation (attach schedule) bullet18,820      
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 23,788,386 Click to see attachment28,451,791 28,122,935
14 Land, buildings, and equipment: basis bullet73,205
Less: accumulated depreciation (attach schedule) bullet73,205      
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,023,882 28,745,864 28,417,008
Liabilities 17 Accounts payable and accrued expenses..........   1,694
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)..........   1,694
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... 24,023,882 28,744,170
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)...... 24,023,882 28,744,170
31 Total liabilities and net assets/fund balances (see instructions).. 24,023,882 28,745,864
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 24,023,882
2 Enter amount from Part I, line 27a..................... 2 -850,268
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 5,570,811
4 Add lines 1, 2, and 3.......................... 4 28,744,425
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 255
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 28,744,170
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a PIMCO ALL ASSETS P 2014-05-08 2014-10-21
b PIMCO TOTAL RETURN P 2014-05-08 2014-10-21
c PIMCO ALL ASSETS P 2012-05-15 2014-10-20
d PIMCO TOTAL RETURN FUND P 2012-03-06 2014-10-20
e PIMCO ALL ASSETS ALL AUTHORITY P 2012-05-15 2014-10-21
PIMCO TOTAL RETURN FUND P 2012-03-06 2014-10-21
VANGUARD INSTL INDEX FD P 2012-02-17 2014-11-12
VANGUARD SMALL CAP INDEX P 2012-02-17 2014-11-12
VANGUARD INSTL INDEX FD P 2012-02-17 2015-03-05
VANGUARD SMALL CAP INDEX ADMIRAL P 2012-02-17 2015-03-05
(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 144,312   153,300 -8,988
b 1,103,938   1,122,898 -18,960
c 1,383,406   1,468,089 -84,683
d 4,280,106   4,349,643 -69,537
e 1,237,630   1,314,716 -77,086
3,170,181   3,224,630 -54,449
349,821   196,896 152,925
50,149   21,451 28,698
500,513   273,004 227,509
250,461   103,642 146,819
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       -8,988
b       -18,960
c       -84,683
d       -69,537
e       -77,086
      -54,449
      152,925
      28,698
      227,509
      146,819
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 2 242,248
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 -27,948
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))
2013 1,866,365 30,001,474 0.062209
2012 1,875,039 29,022,197 0.064607
2011 2,028,044 26,823,595 0.075607
2010 1,601,522 24,587,719 0.065135
2009 1,518,725 26,883,714 0.056492
2 Total of line 1, column (d) ...................... 2 0.324050
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 0.064810
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 29,169,047
5 Multiply line 4 by line 3....................... 5 1,890,446
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 9,325
7 Add lines 5 and 6......................... 7 1,899,771
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,814,378
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 18,650
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 18,650
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 18,650
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a  
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  
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 329
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 18,979
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   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)
    bulletOK
    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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.GUIDESTAR.ORG
    14
    The books are in care ofbulletDAVID ZEMEL Telephone no.bullet (918) 584-4711
    Located atbullet15 W 6THTULSAOK ZIP+4bullet741195407
    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 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    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 2014?.............
    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 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    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 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    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 2014?
    4b
     
    No
    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 (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    DONALD E PRAY TRUSTEE
    5.00     		54,000 0 0
    15 WEST 6TH ST 1308
    TULSA,OK74119
    MELISSA EASTERLING TRUSTEE
    5.00     		31,500 0 0
    15 WEST 6TH ST 1308
    TULSA,OK74119
    JOHN D STRONG JR TRUSTEE
    5.00     		54,000 0 0
    15 WEST 6TH ST 1308
    TULSA,OK74119
    W BLAND WILLIAMSON TRUSTEE
    5.00     		54,000 0 0
    15 WEST 6TH ST 1308
    TULSA,OK74119
    BARBARA PRAY TRUSTEE
    5.00     		54,000 0 0
    15 W 6TH STREET 1308
    TULSA,OK741195407
    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
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    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
    29,388,829
    b
    Average of monthly cash balances.......................
    1b
    224,417
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    29,613,246
    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
    29,613,246
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    444,199
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    29,169,047
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,458,452
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,458,452
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    18,650
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,650
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,439,802
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,439,802
    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
    1,439,802
    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
    1,814,378
    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
    1,814,378
    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
    1,814,378
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 1,439,802
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 185,585
    b From 2010....... 381,040
    c From 2011....... 714,944
    d From 2012....... 450,645
    e From 2013....... 572,846
    fTotal of lines 3a through e......... 2,305,060
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,814,378
    a Applied to 2013, but not more than line 2a  
    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 2014 distributable amount..... 1,439,802
    e Remaining amount distributed out of corpus 374,576
    5 Excess distributions carryover applied to 2014.    
    (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 2,679,636
    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 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		185,585
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		2,494,051
    10 Analysis of line 9:
    a Excess from 2010.... 381,040
    b Excess from 2011.... 714,944
    c Excess from 2012.... 450,645
    d Excess from 2013.... 572,846
    e Excess from 2014.... 374,576
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in 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) 2014 (b) 2013 (c) 2012 (d) 2011
             
    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:
    TRUSTEES OF THE BERNSEN FOUNDATION
    15 W 6TH STREET SUITE 1308
    TULSA,OK741195407
    (918) 584-4711
    bThe form in which applications should be submitted and information and materials they should include:
    ALL APPLICATIONS WILL BE CONSIDERED, REGARDLESS OF FORM.
    cAny submission deadlines:
    THERE ARE NO SUBMISSIONS DEADLINES. APPLICATIONS WILL BE CONSIDERED ON THE 12TH DAY OF EACH MONTH.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    RESTRICTIONS OR LIMITATIONS ON AWARDS THE FOLLOWING "STATEMENT OF POLICIES" IS TAKEN FROM THE MINUTES OF A SPECIAL MEETING OF THE BOARD OF TRUSTEES OF THE GRACE & FRANKLIN BERNSEN FOUNDATION: STATEMENT OF POLICIES: 1)-THE TRUSTEES WILL GENERALLY CONSIDER FUNDING REQUESTS ONLY FROM THE TULSA AREA CHARITABLE ORGANIZATIONS. 2)-THE TRUSTEES WILL GENERALLY ONLY CONSIDER FUNDING PROGRAMS AND PROJECTS THAT WILL PROVIDE A DEFINED BENEFIT SUCH AS CAPITAL PROJECTS, BUILDING PROGRAMS, OR SPECIFIC PROGRAM NEEDS OF THE ORGANIZATION. 3)-THE TRUSTEES WILL GENERALLY ONLY MAKE GIFTS WHICH WILL BE MEANINGFUL IN AMOUNT AND BENEFIT TO THE RECIPIENT.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    AMERICAN RED CROSS TULSA CHAPTER
    10151 E 11ST STREET
    TULSA,OK74128     		    FIRE VICTIM PROGRAM 10,000
    A POCKET FULL OF HOPE
    1325 EAST APACHE
    TULSA,OK74106     		    UPBEAT 360 PROGRAM 10,000
    ALZHEINMER'S ASSOC OF OK
    6465 S YALE 206
    TULSA,OK741367823     		    COMPUTERS & PRINTERS 11,500
    NEIGHBORD ALONG THE LINE
    5000 CHARLES PAGE BLVD
    TULSA,OK74127     		    LITERACY PROGRAM 15,000
    ASSITANCE LEAGUE OF TULSA
    3408 E 11TH ST
    TULSA,OK74112     		    OPERATION SCHOOL BELL 10,000
    BROKEN ARROW NEIGHBORS
    322 WEST BROADWAY AVENUE
    BROKEN ARROW,OK74012     		    CAPITAL CAMPAIGN 50,000
    CAR CARE CLINIC INC
    2547 E ADMIRAL PLACE
    TULSA,OK741105331     		    CHALLENGE 15,000
    CHILD ABUSE NETWORK
    2829 S SHERIDAN ROAD
    TULSA,OK74129     		    CAPITAL CAMPAIGN 50,000
    COMM FOOD BANK OF EASTERN OK
    1304 N KENOSHA ST
    TULSA,OK74106     		    FOOD PANTRY TRUCK/UNRESTRICTED 20,000
    COMMUNITY ACTION PROJECT OF TULSA
    4606 S GARNETT
    TULSA,OK74146     		    ESL PROGRAM 5,000
    TULSA HUB
    601 W 3RD ST
    TULSA,OK74103     		    EDUCATION AND EQUIPMENT 15,000
    CROSSTOWN LEARNING CENTER
    2501 E ARCHER ST
    TULSA,OK74110     		    CAPITAL CAMPAIGN CHALLENGE 150,000
    DILLON INTERNATIONAL
    7335 S LEWIS AVE 302
    TULSA,OK74136     		    PARTNERS FOR CHILDREN PROGRAM 10,000
    DVISCALL RAPE
    4300 S HARVARD AVE STE
    TULSA,OK741352608     		    CAPITAL CAMPAIGN 100,000
    TULSA COMMUNITY FOUNDATION
    7030 S YALE AVE 600
    TULSA,OK74136     		    501 TECHNET PROGRAM 10,000
    EMERGENCY INFANT SERVICES
    222 SOUTH HOUSTON AVENUE
    TULSA,OK74127     		    RELSCI DONOR PROJECT 6,000
    YMCA OF GREATER TULSA
    420 S MAIN ST SUITE 200
    TULSA,OK74103     		    CAPITAL CAMPAIGN - TANDY YMCA 25,000
    PARENT CHILD CENTER OF TULSA
    1421 S BOSTON AVENUE
    TULSA,OK74119     		    CAPITAL CONSTRUCTION THERAPY ROOMS 41,361
    CRISIS PREGNANCY OUTREACH
    7807 E 76TH ST
    TULSA,OK74133     		    COMPUTER AND FURNITURE 10,100
    GREATER CORNESTONE COMM DEV PROJECT
    4122 W 55TH PLACE
    TULSA,OK74107     		    UNRESTRICTED 5,000
    HAPPY HANDS EDUCATION CENTER
    8801 S GARNETT ROAD
    BROKEN ARROW,OK74012     		    EQUIPMENT 11,395
    HARVEST HOUSE
    1439 E 71ST ST
    TULSA,OK74136     		    PROGRAM SUPPORT 12,000
    YWCA
    1910 S LEWIS AVE STE 200
    TULSA,OK741045724     		    PRINTERS, SOFTWARE, INSTALLATION 14,945
    HELPING HANDS MINISTRY
    709 S BOSTON AVE
    TULSA,OK741191629     		    BASIC NEEDS PROGRAM 10,000
    HOSPICE OF GREEN COUNTRY
    2121 S COLUMBIA 200
    TULSA,OK74114     		    TELEPHONE SYSTEM 11,809
    CAMP FIRE USA
    706 S BOSTON AVENUE
    TULSA,OK74119     		    EQUIPMENT 10,000
    MEALS ON WHEELS
    12620 E 31ST ST
    TULSA,OK74146     		    BREAKFAST PROGRAM 12,000
    YOUTH SERVICES OF TULSA
    311 S MADISON
    TULSA,OK74120     		    COMMUNITY INTERVENTION CENTER 50,000
    HOSPITALITY HOUSE OF TULSA
    1135 S VICTOR AVE
    TULSA,OK74104     		    HOUSING SUPPORT 10,000
    JOHN 316 MISSION
    575 N 39TH WEST AVENUE
    TULSA,OK74127     		    HOUSING SUPPORT 10,000
    LIFE SENIOR SERVICES
    5950 E 31ST STREET
    TULSA,OK74135     		    PACE PROGRAM 100,000
    LOLLIPOPS RAINBOWS
    5103 S SHERIDAN 670
    TULSA,OK741457627     		    GRANT: PROGRAM SUPPORT 5,000
    SOUTH PEORIA NEIGHBORHOOD HOUSE
    5780 S PEORIA AVENUE
    TULSA,OK74105     		    PROPERTY AND RENOVATION 25,000
    OKLAHOMA PROJECT WOMAN
    2727 EAST 21ST ST 602
    TULSA,OK74114     		    FAMILY MEDICAL LODGING 10,000
    ST JOHN'S CNTR FOR SPIRITUAL FRMTN
    5840 S MEMORIAL DR 305
    TULSA,OK74145     		    DISCRETIONARY GRANT 5,000
    PARKINSON FOUNDATION OF OK
    1831 E 71ST ST
    TULSA,OK74136     		    LOUD CROWD PROGRAM 5,400
    RESONANCE CENTER FOR WOMEN
    1608 S ELWOOD AVENUE
    TULSA,OK74119     		    LOFT APARTMENT RENTAL 13,200
    PLANNED PARENTHOOD AR E OK
    1007 S PEORIA AVE
    TULSA,OK74120     		    PREVENTION EDUCATION PROGRAM 5,000
    REBUILDING TOGETHER TULSA
    PO BOX 52201
    TULSA,OK74152     		    PROGRAM SUPPORT 15,000
    STAND IN THE GAP INC
    3939 S HARVARD AVE 120
    TULSA,OK74135     		    WIDOWS PROGRAM 10,000
    STREET SCHOOL
    1135 S YALE AVE
    TULSA,OK74112     		    THERAPEUTIC COUNSELING PROGRAM 20,000
    JUNIOR ACHIEVEMENT OF OK
    3947 S 103RD E AVENUE
    TULSA,OK74146     		    PROGRAM UPDATES - JA USA 10,000
    ST JOHN MEDICAL CENTER FOUND
    1923 S UTICA
    TULSA,OK74104     		    2015 STREET PARTY 2,500
    ST JOHN MEDICAL CENTER FOUND
    1923 S UTICA
    TULSA,OK74104     		    RIVERSIDE CLINIC 60,000
    THE CHILDREN'S CENTER
    6800 NORTHWEST 39TH EXPRE
    BETHANY,OK73008     		    CAPITAL CAMPAIGN 100,000
    TOWN COUNTRY SCHOOL INC
    8906 E 34TH ST
    TULSA,OK74145     		    ALL WESTHER COPY 25,000
    THE PENCIL BOX
    PO BOX 52631
    TULSA,OK74152     		    PROGRAM SUPPLIES 10,000
    CREEK COUNTY LITERACY PROGRAM
    15 N POPLAR ST
    SAPULPA,OK74066     		    COMPUTER LAB 5,938
    BISHOP KELLEY HIGH SCHOOL
    3905 S HUDSON AVENUE
    TULSA,OK74135     		    ANNUAL FUND 5,000
    TULSA AREA UNITED WAY
    1430 S BOULDER
    TULSA,OK74119     		    ANNUAL CAMPAIGN 15,000
    TULSA COMMUNITY COLLEGE
    909 S BOSTON AVENUE
    TULSA,OK74119     		    SIGNATURE SYMPHONY 5,000
    TULSA BALLET THEATRE
    1212 EAST 45TH PLACE
    TULSA,OK74105     		    ANNUAL OPERATIONS 10,000
    TULSA BOTANICAL GARDEN
    3900 TULSA BOTANIC DR
    TULSA,OK74127     		    UNRESTRICTED 100,000
    TULSA COMM COLLEGE FOUNDATION
    909 S BOSTON AVENUE
    TULSA,OK74119     		    PASS PROGRAM 5,000
    TULSA COMM COLLEGE FOUNDATION
    909 S BOSTON AVENUE
    TULSA,OK74119     		    VISION AWARDS DINNER 5,000
    TULSA CHILDREN'S MUSEUM
    560 N MAYBELLE AVE
    TULSA,OK74127     		    CHALLENGE 20,000
    OKLAHOMA CENTER FOR COMM AND JUSTIC
    100 W 5TH STREET
    TULSA,OK74103     		    UNRESTRICTED 5,000
    TULSA DAY CENTER FOR THE HOMELESS
    415 W ARCHER
    TULSA,OK74103     		    CASE MGMT PROGRAM 15,000
    TULSA GIRLS ART SCHOOL
    2202 E ADMIRAL BLVD
    TULSA,OK74110     		    ART SUPPLIES 10,000
    TULSA HISTORICAL SOCIETY
    2445 S PEORIA
    TULSA,OK74114     		    HALL OF FAME DINNER 2015 10,000
    RIVER PARKS FOUNDATION
    2424 E 21ST ST SUITE 300
    TULSA,OK74114     		    PARK PATROL PROGRAM 5,000
    VOLUNTEER TULSA INC
    PO BOX 4196
    TULSA,OK741590196     		    BUILDING COMMUNITY PROGRAM 5,000
    UNIVERSITY OF TULSA
    800 S TUCKER DR
    TULSA,OK74104     		    HARDESTY HALL 100,000
    VOLUNTEER TULSA INC
    PO BOX 4196
    TULSA,OK741590196     		    EMERGENCY ASSISTANCE 5,000
    TULSA ZOO MANAGEMENT
    6421 E 36TH ST N
    TULSA,OK74115     		    GRANT LOST KINGDOM 50,000
    CLAREHOUSE
    7617 S MINGO RD
    TULSA,OK74133     		    PROGRAM SUPPLIES 10,400
    CORNESTONE COMMUNITY CENTER
    4122 W 55TH PLACE
    TULSA,OK74107     		    DEVELOPMENT PROGRAM 2,900
    Total .................................bullet 3a 1,531,448
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    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 ............     		    14    
    4 Dividends and interest from securities....     14 798,651  
    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 .............     		        242,248
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aOIL & GAS     15 20,915  
    bMISCELLANEOUS         9,618
    cPARTNERSHIP INCOME         4,193
    dDEPLETION     15 -3,137  
    e
    12 Subtotal. Add columns (b), (d), and (e)..   816,429 256,059
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,072,488
    (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 (2014)
    Form 990-PF (2014)
    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
    Yes
    No
    organizations?
    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 namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 9,702 1,940 1,940 7,762

    TY 2014 InvestmentsLandSchedule2
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OIL & GAS ROYALTIES 18,820 18,820    

    TY 2014 InvestmentsOtherSchedule2
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MERRILL LYNCH-AMER EURO PACIFIC   2,760,643 3,289,415
    VANGUARD 500 INDEX FUND   5,320,204 8,852,966
    VANGUARD SMALL CAP INDEX FUND   1,769,911 3,790,494
    PIMCO ALL ASSETS      
    DFA EMERGING MARKETS   1,709,360 1,416,731
    PIMCO TOTAL RETURN FUND      
    DODGE & COX FUND   8,558,000 8,229,143
    WELLS FARGO ADVTG.   2,766,000 2,544,186
    MARKET ADJUSTMENT - INVESTMENTS   5,567,673  

    TY 2014 LandEtcSchedule2
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE EQUIPMENT 73,205 73,205    


    TY 2014 OtherDecreasesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    INSURANCE - OFFICE 1,304 143 143 1,161
    INSURANCE - EMPLOYEES 7,983 878 878 7,105
    INSURANCE - WORKER'S COMP 455 50 50 405
    OFFICE SUPPLIES 2,632 290 290 2,342
    PARKING 2,094 230 230 1,864
    TELEPHONE 5,019 552 552 4,467
    OPERATIONS 33 4 4 28


    TY 2014 OtherIncomeSchedule2
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OIL & GAS 20,915   20,915
    MISCELLANEOUS 9,618   9,618
    PARTNERSHIP INCOME 4,193   4,193
    DEPLETION -3,137   -3,137


    TY 2014 OtherIncreasesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Description Amount
       
       


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER PROFESSIONAL FEES 30,650 30,650 30,650  


    TY 2014 TaxesSchedule
    Name:
    GRACE & FRANKLIN BERNSEN FOUNDATION
    EIN: 23-7009414
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAX 3,998 3,998 3,998  
    OTHER 13,053 13,053 13,053