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
The Tapeats Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

76-0412011
B Telephone number (see instructions)

(800) 839-1754
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$15,755,900J 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) 0
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 608 608  
4 Dividends and interest from securities... 217,185 217,185  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 845,612
b Gross sales price for all assets on line 6a 3,108,365
7 Capital gain net income (from Part IV, line 2)... 845,612
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 103,804 123,278  
12 Total. Add lines 1 through 11........ 1,167,209 1,186,683  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 61,439 40,715   20,724
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 28,333      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 15,397     15,397
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 141,409 67,977   73,026
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 246,578 108,692   109,147
25 Contributions, gifts, grants paid....... 675,190 675,190
26 Total expenses and disbursements. Add lines 24 and 25 921,768 108,692   784,337
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 245,441
b Net investment income (if negative, enter -0-) 1,077,991
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......... 764,814 431,357 431,357
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) 674,957 Click to see attachment293,640 306,778
b Investments—corporate stock (attach schedule)....... 5,110,522 Click to see attachment5,045,515 5,517,667
c Investments—corporate bonds (attach schedule)....... 1,093,667 Click to see attachment1,443,907 1,460,377
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,087,599 Click to see attachment6,762,581 8,039,721
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,731,559 13,977,000 15,755,900
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 13,731,559 13,977,000
30 Total net assets or fund balances (see instructions)..... 13,731,559 13,977,000
31 Total liabilities and net assets/fund balances (see instructions). 13,731,559 13,977,000
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
13,731,559
2
Enter amount from Part I, line 27a .....................
2
245,441
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
13,977,000
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
13,977,000
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      
b Passthrough K1 Capital Gain      
c
d
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 3,108,365   2,502,309 606,056
b 0     239,556
c
d
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       606,056
b       0
c
d
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 2 845,612
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 719,366 16,186,650 0.044442
2013 715,341 15,091,133 0.047401
2012 727,900 13,312,299 0.054679
2011 708,644 13,215,439 0.053622
2010 709,150 12,791,673 0.055438
2
Total of line 1, column (d) .....................
20.255582
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
0.051116
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
16,461,134
5
Multiply line 4 by line 3......................
5
841,427
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
10,780
7
Add lines 5 and 6........................
7
852,207
8
Enter qualifying distributions from Part XII, line 4.............
8
784,337
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 21,560
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 21,560
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 21,560
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 19,400
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 4,086
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 23,486
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,926
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet1,926 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletTX
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
    David R Graham Trustee
    0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Laurel A Graham Executive VP / Trustee
    0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Robert H Graham Pres / Treas / Trustee
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Spencer R Graham Trustee
    0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Whitney G Mixon Trustee
    0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Margaret Worden Executive Dir / Sec
    20.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    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
    Foundation Source Administrative 69,635
    55 Walls Drive
    Fairfield,CT06824
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    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
    8,076,212
    b
    Average of monthly cash balances.......................
    1b
    595,878
    c
    Fair market value of all other assets (see instructions)................
    1c
    8,039,721
    d
    Total (add lines 1a, b, and c).........................
    1d
    16,711,811
    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
    0
    3
    Subtract line 2 from line 1d.........................
    3
    16,711,811
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    250,677
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    16,461,134
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    823,057
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    823,057
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    21,560
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    21,560
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    801,497
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    801,497
    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
    801,497
    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
    784,337
    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
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    784,337
    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
    784,337
    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 7 801,497
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 352,047
    b Total for prior years:2013, 2012, 2011  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 784,337
    a Applied to 2014, but not more than line 2a 352,047
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2015 distributable amount..... 432,290
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		369,207
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		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.... 0
    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).)
    Laurel A Graham
    Robert H Graham
    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
    AMERICAN EAGLE FOUNDATION
    PO BOX 333
    PIGEON FORGE,TN37868     		N/A PC Live Eagle Nest Cam Project 5,000
    BAYOU PRESERVATION ASSOCIATION INC
    2990 RICHMOND AVE STE 500
    HOUSTON,TX77098     		N/A PC General & Unrestricted 2,500
    BOS PLACE
    10050 BUFFALO SPEEDWAY
    HOUSTON,TX77054     		N/A PC General & Unrestricted 10,000
    BRIARWOOD-BROOKWOOD INC
    1752 FM 1489
    BROOKSHIRE,TX77423     		N/A PC General & Unrestricted 2,500
    BRIDGES TO LIFE
    PO BOX 570895
    HOUSTON,TX77257     		N/A PC Bridges to Life Program at the Kyle Correctional Center 10,600
    BRIGHTER DAYS HORSE REFUGE INC
    682 KRAUSE RD
    PIPE CREEK,TX78063     		N/A PC General & Unrestricted 5,000
    BUFFALO BAYOU PARTNERSHIP
    1113 VINE ST STE 215
    HOUSTON,TX77002     		N/A PC General & Unrestricted 5,000
    CAMP ARANZAZU INC
    5420 FM 1781
    ROCKPORT,TX78382     		N/A PC General & Unrestricted 2,500
    CAMP FOR ALL FOUNDATION
    10500 NW FWY STE 220
    HOUSTON,TX77092     		N/A PC General & Unrestricted 5,000
    CASA DE ESPERANZA DE LOS NINOS INCORPORATED
    PO BOX 66581
    HOUSTON,TX77266     		N/A PC General & Unrestricted 5,000
    CHILDRENS MUSEUM INC
    1500 BINZ ST
    HOUSTON,TX77004     		N/A PC General & Unrestricted 5,000
    CHINQUAPIN PREPARATORY SCHOOL
    2615 E WALLISVILLE RD
    HIGHLANDS,TX77562     		N/A PC General & Unrestricted 10,000
    CITIZEN SCHOOLS INC
    308 CONGRESS ST FL 5
    BOSTON,MA02210     		N/A PC Closing Opportunity and Achievement Gaps for Houston middle school students 2,500
    COLLABORATIVE FOR CHILDREN
    1111 N LOOP W STE 600
    HOUSTON,TX77008     		N/A PC General & Unrestricted 10,000
    CRAIGHEAD INSTITUTE
    201 S WALLACE AVE STE B2D
    BOZEMAN,MT59715     		N/A PC The Wolverine Initiative 15,000
    CRISTO REY JESUIT HIGH SCHOOL OF HOUSTON INC
    6700 MOUNT CARMEL ST
    HOUSTON,TX77087     		N/A PC General & Unrestricted 10,000
    DEFY VENTURES INC
    5 PENN PLZ 19TH FLR
    NEW YORK,NY10001     		N/A PC General & Unrestricted 5,000
    DRESS FOR SUCCESS HOUSTON
    3310 EASTSIDE ST
    HOUSTON,TX77098     		N/A PC Thumbs Up Program 5,000
    FOUNDATION FOR TEEN HEALTH
    1504 TAUB LOOP
    HOUSTON,TX77030     		N/A PC General & Unrestricted 5,000
    GARY SINISE FOUNDATION
    PO BOX 50008
    STUDIO CITY,CA91614     		N/A PC General & Unrestricted 8,000
    GEORGETOWN PROJECT
    PO BOX 957
    GEORGETOWN,TX78627     		N/A PC General & Unrestricted 12,500
    HEIFER INTERNATIONAL FOUNDATION
    1 WORLD AVE
    LITTLE ROCK,AR72202     		N/A PC General & Unrestricted 12,500
    HOUSTON ARBORETUM & NATURE CENTER
    4501 WOODWAY DR
    HOUSTON,TX77024     		N/A PC Operating Support 5,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC General & Unrestricted 10,000
    HOUSTON PARKS BOARD
    300 N POST OAK LN
    HOUSTON,TX77024     		N/A PC Operations Support, Capacity Building Project 5,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC Giant Armadillo Conservation Project 10,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC Lion Conservation Collaboration Project 20,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE ST
    HOUSTON,TX77030     		N/A PC Madagascar's Lemur Program, Hirola Conservation Program and Giant Armadillo Conservation Project 35,000
    HUMANE SOCIETY OF KERRVILLE
    PO BOX 294810
    KERRVILLE,TX78029     		N/A PC General & Unrestricted 5,000
    INJURED MARINE SEMPER FI FUND
    825 COLLEGE BLVD STE 102
    OCEANSIDE,CA92057     		N/A PC General & Unrestricted 8,000
    JACK CREEK PRESERVE FOUNDATION INC
    PO BOX 160925
    BIG SKY,MT59716     		N/A POF General & Unrestricted 5,000
    KIPP INC
    10711 KIPP WAY DR
    HOUSTON,TX77099     		N/A PC KIPP Through College Project 10,000
    MARBRIDGE FOUNDATION INC
    PO BOX 2250
    MANCHACA,TX78652     		N/A PC Nursing Education and Recruitment/Retention for the nursing department at the villa 5,000
    MEDICAL BRIDGES INC
    2706 MAGNET ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 10,000
    MIKEROWEWORKS FOUNDATION
    1207 4TH ST PH 1
    SANTA MONICA,CA90401     		N/A PC General & Unrestricted 9,000
    MONTANA LAND RELIANCE
    PO BOX 355
    HELENA,MT59624     		N/A PC General & Unrestricted 7,500
    NORAS GIFT FOUNDATION INC
    8300 EL RIO ST
    HOUSTON,TX77054     		N/A PC General & Unrestricted 10,000
    P4L
    1800 W LOOP S STE 1875
    HOUSTON,TX77027     		N/A PC Lemonade Day Houston Project 2,500
    PANTHERA CORPORATION
    8 W 40TH ST 18TH FL
    NEW YORK,NY10018     		N/A PC the Teton Cougar Project 10,000
    PATHWAYS FOR LITTLE FEET
    8 GREENWAY PLZ STE 1000
    HOUSTON,TX77046     		N/A PC Perpetual Family Fund 5,000
    PATRIOT PAWS SERVICE DOGS
    254 RANCH TRL
    ROCKWALL,TX75032     		N/A PC General & Unrestricted 5,000
    PEREGRINE FUND INC
    5668 W FLYING HAWK LN
    BOISE,ID83709     		N/A PC California Condor - Southern Utah Monitoring Project 5,000
    PERIWINKLE FOUNDATION
    3400 BISSONNET ST STE 185
    HOUSTON,TX77005     		N/A PC General & Unrestricted 2,500
    PHILANTHROPY ROUNDTABLE
    1730 M ST NW STE 601
    WASHINGTON,DC20036     		N/A PC Charitable Event 5,000
    POSITIVE COACHING ALLIANCE
    1001 N RENGSTORFF AVE STE 100
    MOUNTAIN VIEW,CA94043     		N/A PC General & Unrestricted 10,000
    POSITIVE COACHING ALLIANCE
    1001 N RENGSTORFF AVE STE 100
    MOUNTAIN VIEW,CA94043     		N/A PC Charitable Event 90
    PRISON ENTREPRENEURSHIP PROGRAM
    4140 DIRECTORS ROW STE B
    HOUSTON,TX77092     		N/A PC General & Unrestricted 15,000
    PROJECT GRAD HOUSTON
    3000 RICHMOND AVE STE 400
    HOUSTON,TX77098     		N/A PC Project GRAD Houston 2,500
    PTSD FOUNDATION OF AMERICA
    PO BOX 690748
    HOUSTON,TX77269     		N/A PC Camp Hope Program 5,000
    RANCH HANDS RESCUE
    8827 HWY 377 S
    ARGYLE,TX76226     		N/A PC General & Unrestricted 10,000
    SCENIC TEXAS INC
    5615 KIRBY DR STE 645
    HOUSTON,TX77005     		N/A PC The Streetscape Enhancement Program 2,500
    SMALL STEPS NURTURING CENTER
    2902 JENSEN DR
    HOUSTON,TX77026     		N/A PC General & Unrestricted 5,000
    SPARK
    PO BOX 1562
    HOUSTON,TX77251     		N/A PC park construction at Houston area schools 2,500
    SPAY-NEUTER ASSISTANCE PROGRAM INC
    PO BOX 70286
    HOUSTON,TX77270     		N/A PC Houston Mobile Clinic 10,000
    ST JOHNS SCHOOL
    2401 CLAREMONT LN
    HOUSTON,TX77019     		N/A PC Breakthrough Houston Programming and Operations Project 10,000
    STAR OF HOPE MISSION
    6897 ARDMORE ST
    HOUSTON,TX77054     		N/A PC Stars of 2Morrow Project 2,500
    STUDENT CONSERVATION ASSOCIATION INC
    4245 N FAIRFIELD DR STE 825
    ARLINGTON,VA22203     		N/A PC SCA Programs in Houston and Montana Project 5,000
    SUNSHINE KIDS FOUNDATION
    2814 VIRGINIA ST
    HOUSTON,TX77098     		N/A PC General & Unrestricted 2,500
    TEACH FOR AMERICA HOUSTON
    4669 SW FREEWAY STE 600
    HOUSTON,TX77027     		N/A PC General & Unrestricted 20,000
    TEAM RUBICON
    6171 CENTURY BLVD STE 310
    LOS ANGELES,CA90045     		N/A PC General & Unrestricted 5,000
    THE MONARCH SCHOOL INC
    2815 ROSEFIELD DR
    HOUSTON,TX77080     		N/A PC General & Unrestricted 5,000
    THE MONARCH SCHOOL INC
    2815 ROSEFIELD DR
    HOUSTON,TX77080     		N/A PC Financial Assistance Program 5,000
    TREES FOR HOUSTON
    PO BOX 270477
    HOUSTON,TX77277     		N/A PC To purchase, plant and grow trees throughout the greater houston region 10,000
    UNIVERSITY OF CALIFORNIA - UC DAVIS SCHOOL OF VETE
    ONE SHIELDS AVE
    DAVIS,CA95616     		N/A PC Gorilla Doctors Project 15,000
    W OSCAR NEUHAUS MEMORIAL FOUNDATION
    4433 BISSONNET ST
    BELLAIRE,TX77401     		N/A PC Engaging Families for Reading Success Project 5,000
    WARRIORS & QUIET WATERS FOUNDATION
    1087 STONERIDGE DR STE 1
    BOZEMAN,MT59718     		N/A PC General & Unrestricted 5,000
    WILD SKIES RAPTOR CENTER
    PO BOX 3676
    MISSOULA,MT59806     		N/A PC Building a Raptor Center Project 7,500
    WILDLIFE CONSERVATION NETWORK INC
    209 MISSISSIPPI ST
    SAN FRANCISCO,CA94107     		N/A PC Ethiopian Wolf Conservation Program, Niassa Lion Project, Painted Dog Conservation, Snow Leopard Conservancy, Tigris Foundation and Cheetah Conservation Botswana 102,000
    WOODS PROJECT INC
    6 SLEEPY OAKS CIR
    HOUSTON,TX77024     		N/A PC General & Unrestricted 10,000
    YELLOWSTONE ACADEMY INC
    3000 TRULLEY ST
    HOUSTON,TX77004     		N/A PC General & Unrestricted 5,000
    YELLOWSTONE PARK FOUNDATION INC
    222 E MAIN ST
    BOZEMAN,MT59715     		N/A PC Bison Migration Study Project 25,000
    YELLOWSTONE PARK FOUNDATION INC
    222 E MAIN ST
    BOZEMAN,MT59715     		N/A PC Raptor Initiative Project 20,000
    YES PREP PUBLIC SCHOOLS INC
    6201 BONHOMME RD STE 168N
    HOUSTON,TX77036     		N/A PC Redefine Possible Campaign 10,000
    Total .................................bullet 3a 675,190
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 608  
    4 Dividends and interest from securities....     14 217,185  
    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 ............     		    18 845,612  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 -19,474 14 123,278  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. -19,474 1,186,683  
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,167,209
    (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

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2015 DepreciationSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC GLBL NT - 3.000% - 02 75,260 73,844
    BERKSHIRE HATHAWAY FIN CORP - 157,479 162,812
    BLACKROCK INC FR - 3.375% - 06 77,132 77,588
    CATERPILLAR INC NT - 5.700% - 103,159 102,844
    CISCO SYSTEMS INC - 3.625% - 0 103,495 104,327
    COMCAST CORP - 3.600% - 03/01/ 76,394 77,523
    COMCAST CORP BOND - 2.850% - 0 76,445 74,432
    DU PONT E I DE NEMOURS - 6.000 173,640 163,544
    INTEL CORP NOTE - 3.300% - 10/ 49,968 51,791
    ORACLE CORP - 5.250% - 01/15/2 98,705 100,064
    PFIZER INC NT - 3.400% - 05/15 100,477 102,593
    PRAXAIR INC NT - 2.200% - 08/1 45,819 47,789
    UNITED TECHNLGS CORP - 5.375% 156,747 161,249
    WAL MART STORES INC - 3.250% - 51,242 52,693
    WELLS FARGO - 5.625% - 12/11/2 97,945 107,284

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AETNA INC 11,348 32,436
    ALLERGAN PLC 40,767 44,688
    ALLIANCE DATA SYSTEM CORP 4,119 20,190
    ALPHABET INC CL A 7,649 21,784
    ALPHABET INC CL C 32,681 55,398
    AMAZON COM 29,782 64,885
    AMERICAN EXPRESS CO 22,118 19,474
    ANADARKO PETROLEUM CORP 28,519 20,889
    APPLE INC 26,712 51,998
    AUTOMATIC DATA PROCESSING INC 23,410 47,867
    BLACKROCK INC 9,367 19,750
    BOEING CO 14,453 28,195
    CAPITAL ONE FINANCIAL CORP 24,913 30,677
    CIGNA 19,969 21,218
    CISCO SYSTEMS INC 23,046 31,364
    CITIGROUP INC 19,831 23,288
    CITRIX SYSTEMS INC 15,964 20,047
    COLGATE-PALMOLIVE COMPANY 17,857 18,654
    COMCAST CORP 24,330 38,880
    CVS CAREMARK CORP 13,607 33,731
    DANAHER CORP 15,433 37,616
    DELAWARE US GROWTH 548,646 619,239
    DOLLAR GENERAL CORP 17,246 27,311
    EMC CORP-MASS 28,575 30,046
    EOG RESOURCES INC 15,371 13,096
    EQT CORPORATION 4,680 8,497
    EXPRESS SCRIPTS HOLDING CO 20,977 36,887
    FIDELITY NATIONAL INFORMATION 7,925 18,604
    FISERV INC 5,598 25,517
    GENERAL ELECTRIC CO 36,914 43,454
    HOME DEPOT INC 25,779 44,304
    JOHN HANCOCK FDS II GL ABSRTR 536,812 497,706
    JOHNSON & JOHNSON 25,108 32,870
    JP MORGAN CHASE 19,450 38,628
    KINDER MORGAN INC 22,355 15,368
    MACY'S INC 35,855 23,087
    MATTHEWS PACIFIC TIGER FUND I 271,313 363,539
    MEDTRONIC PLC 47,786 47,767
    MERCK & CO INC 13,334 24,984
    MICROSOFT CORP 28,373 53,816
    NEXTERA ENERGY, INC 20,336 19,739
    OAKMARK GLOBAL SELECT FUND CLA 432,133 417,602
    OMNICOM GROUP 16,859 18,158
    ORACLE CORP 19,060 35,617
    PEPSICO INC 15,981 23,181
    PRAXAIR INC 15,436 23,552
    PRUDENTIAL FINCL INC 38,838 36,227
    QUALCOMM INC 13,195 9,747
    RIDGEWOOD SEIX FLTG RATE HIGH 1,038,549 950,440
    SIMON PPTY GROUP INC 18,073 23,527
    STRYKER CORPORATION 14,572 27,417
    THERMO FISHER SCIENTIFIC INC 12,973 13,476
    TJX COMPANIES INC 16,816 24,038
    TWEEDY BROWNE GLOBAL VALUE FUN 1,050,164 990,567
    TYCO INTERNATIONAL LTD 26,681 21,047
    UNION PACIFIC 19,812 20,332
    UNITED TECHNOLOGIES CORP 13,783 23,057
    UNITEDHEALTH GROUP INC 7,602 35,292
    US BANCORP 27,633 32,429
    V F CORP 7,581 18,862
    VERIZON COMMUNICATIONS 31,521 29,812
    VISA INC 11,748 24,273
    WELLS FARGO & CO 16,598 33,921
    WILLIAMS COS 21,599 17,605

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    US Government Securities - End of Year Book Value:

    293,640
    US Government Securities - End of Year Fair Market Value:

    306,778
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2015 InvestmentsOtherSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    AT MLP FUND   1,178,588 1,012,720
    COUGAR INVESTMENT FUND LLC.   221,731 237,878
    LIGHTHOUSE DIVERSIFIED FD LTD   750,000 1,004,762
    MBA INVT FUND, LLC (GROWTH)   3,145,158 4,109,865
    MBA INVT FUND, LLC (VALUE)   931,290 1,062,106
    MBA INVT, LLC (ENDOWMENT)   35,814 39,591
    PRISMA SPECTRUM FUND LTD.   500,000 572,799

    TY 2015 OtherExpensesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 69,635     69,635
    Bank Charges 5 5    
    Foundation Dues & Memberships 1,750     1,750
    Indemnification Insurance 1,641     1,641
    K-1 Exp AT MLP FUND 21,954 21,548    
    K-1 Exp COUGAR INVESTMENT FUND 1,459 1,459    
    K-1 EXP MBA INVT FUND, GROWTH 35,195 35,195    
    K-1 EXP MBA INVT FUND, VALUE 9,394 9,394    
    K-1 EXP MBA INVT,LLC ENDOWMENT 376 376    


    TY 2015 OtherIncomeSchedule2
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss AT MLP FUND 18,860 38,334  
    K-1 Inc/Loss COUGAR INVESTMENT FUND LLC. 3,952 3,952  
    K-1 Inc/Loss MBA INVT FUND, LLC (GROWTH) 54,134 54,134  
    K-1 Inc/Loss MBA INVT FUND, LLC (VALUE) 25,873 25,873  
    K-1 Inc/Loss MBA INVT, LLC (ENDOWMENT) 985 985  


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 40,715 40,715    
    PROFESSIONAL MGMT SERVICES 20,724     20,724


    TY 2015 TaxesSchedule
    Name:
    The Tapeats Fund
    EIN:
    76-0412011
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2015 19,400      
    990-PF Excise Tax for 2014 7,093      
    990-PF Extension for 2014 140      
    990-T EXTENSION FOR 2014 1,700