TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

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 CHARLES EVANS HUGHES MEMORIAL
FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)280 MADISON AVENUE SUITE 1007
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10016

A Employer identification number

13-6159445

B Telephone number (see instructions)

(212) 517-8108

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

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

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

$14,023,330J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	30		30
4	Dividends and interest from securities...	184,704		184,704
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		592,370
b	Gross sales price for all assets on line 6a 4,127,116
7	Capital gain net income (from Part IV, line 2)...			592,370
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	777,104		777,104
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		15,000	15,000	0
c	Other professional fees (attach schedule)....		198,790	48,790	150,000
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		17,423	2,529	750
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	24,693		8,008	16,685
22	Printing and publications..........
23	Other expenses (attach schedule).......		17,584	1,839	15,745
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	273,490		76,166	183,180
25	Contributions, gifts, grants paid.......	758,250			758,250
26	Total expenses and disbursements. Add lines 24 and 25	1,031,740		76,166	941,430
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-254,636
b	Net investment income (if negative, enter -0-)			700,938
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	220	400	400
	2	Savings and temporary cash investments.........	262,366	306,643	306,643
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	1,831,664	1,534,201	1,534,201
	b	Investments—corporate stock (attach schedule).......	11,894,560	11,200,720	11,200,720
	c	Investments—corporate bonds (attach schedule).......	1,185,132	966,678	966,678
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	19,130	14,688	14,688
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	15,193,072	14,023,330	14,023,330
	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 )	12,020	16,006
	23	Total liabilities (add lines 17 through 22).........	12,020	16,006
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	30,277,743	29,951,021
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	-15,096,691	-15,943,697
	30	Total net assets or fund balances (see instructions).....	15,181,052	14,007,324
	31	Total liabilities and net assets/fund balances (see instructions).	15,193,072	14,023,330

Part III

Analysis of Changes in Net Assets or Fund Balances

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

15,181,052

Enter amount from Part I, line 27a .....................

-254,636

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

14,926,416

Decreases not included in line 2 (itemize) bullet

919,092

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

14,007,324

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	60 SH. ACE LIMITED	P	2010-08-19	2015-02-26
b	40 SH. ACE LIMITED	P	2010-08-20	2015-02-26
c	15 SH. ACE LIMITED	P	2010-08-20	2015-05-15
d	90 SH. AETNA INC.	P	2012-11-13	2015-01-20
e	110 SH. AETNA INC.	P	2012-11-14	2015-01-20
	90 SH. AETNA INC.	P	2012-11-14	2015-01-21
	50 SH. AETNA INC.	P	2012-11-15	2015-01-21
	60 SH. AETNA INC.	P	2013-01-09	2015-01-21
	35 SH. AETNA INC.	P	2013-01-09	2015-05-15
	105 SH. AETNA INC.	P	2013-01-09	2015-06-25
	50 SH. AETNA INC.	P	2013-01-10	2015-06-25
	70 SH. AETNA INC.	P	2014-01-10	2015-06-25
	25 SH. AETNA INC.	P	2014-01-10	2015-06-26
	300 SH. AMERICAN INTERNATIONAL GROUP INC.	P	2013-04-26	2015-02-26
	80 SH. AMERICAN WATER WORKS CO.	P	2013-06-19	2015-02-26
	300 SH. AMERICAN WATER WORKS CO.	P	2013-06-20	2015-02-26
	20 SH. AMERICAN WATER WORKS CO.	P	2013-06-21	2015-02-26
	80 SH. AMERICAN WATER WORKS CO.	P	2013-06-21	2015-02-27
	20 SH. AMERICAN WATER WORKS CO.	P	2013-06-24	2015-02-27
	50 SH. AMERICAN WATER WORKS CO.	P	2013-06-24	2015-05-15
	30 SH. AMERICAN WATER WORKS CO.	P	2013-06-24	2015-09-11
	20 SH. AMERICAN WATER WORKS CO.	P	2013-06-25	2015-09-11
	100 SH. AMERICAN WATER WORKS CO.	P	2013-06-25	2015-09-14
	15 SH. APPLE INC.	P	2013-08-30	2015-05-15
	200 SH. ASTRAZENECA PLC	P	2014-11-03	2015-09-28
	10 SH. AVAGO TECHNOLOGIES	P	2013-05-14	2015-05-15
	75 SH. AVAGO TECHNOLOGIES	P	2013-05-14	2015-11-06
	75 SH. AVAGO TECHNOLOGIES	P	2013-05-14	2015-11-09
	20 SH. BNP PARIBAS SPON ADR	P	2013-03-26	2015-05-15
	190 SH. BNP PARIBAS SPON ADR	P	2013-03-26	2015-09-29
	60 SH. BNP PARIBAS SPON ADR	P	2013-04-11	2015-09-29
	50 SH. BNP PARIBAS SPON ADR	P	2013-04-11	2015-09-30
	2,750 SH. BOMBARDIER INC. - CLASS B	P	2015-01-16	2015-01-23
	2,000 SH. BOMBARDIER INC. - CLASS B	P	2015-01-19	2015-01-23
	90 SH. BRIDGESTONE CORP. ADR	P	2013-07-09	2015-05-15
	300 SH. BRIDGESTONE CORP. ADR	P	2013-07-09	2015-06-09
	450 SH. BRIDGESTONE CORP. ADR	P	2013-07-10	2015-06-09
	50 SH. BRIDGESTONE CORP. ADR	P	2013-07-10	2015-06-10
	50 SH. CAMERON INTERNATIONAL CORP.	P	2015-06-25	2015-09-10
	100 SH. CAMERON INTERNATIONAL CORP.	P	2015-06-26	2015-09-10
	25 SH. CAMERON INTERNATIONAL CORP.	P	2015-06-26	2015-09-11
	100 SH. CAMERON INTERNATIONAL CORP.	P	2015-06-29	2015-09-28
	100 SH. CAMERON INTERNATIONAL CORP.	P	2015-06-29	2015-09-29
	100 SH. CDW CORP.	P	2015-02-26	2015-11-16
	150 SH. CDW CORP.	P	2015-03-04	2015-11-16
	50 SH. CDW CORP.	P	2015-03-04	2015-11-19
	50 SH. CDW CORP.	P	2015-03-05	2015-11-19
	50 SH. CDW CORP.	P	2015-03-06	2015-11-19
	100 SH. CDW CORP.	P	2015-03-09	2015-11-19
	50 SH. CDW CORP.	P	2015-03-09	2015-11-20
	25 SH. CHINA TELECOM ADR	P	2011-11-30	2015-04-24
	50 SH. CHINA TELECOM ADR	P	2011-12-01	2015-04-24
	75 SH. CHINA TELECOM ADR	P	2011-12-02	2015-04-24
	30 SH. CHINA TELECOM ADR	P	2011-12-05	2015-04-27
	50 SH. CHINA TELECOM ADR	P	2011-12-09	2015-04-27
	70 SH. CHINA TELECOM ADR	P	2011-12-12	2015-04-27
	30 SH. CHINA TELECOM ADR	P	2011-12-12	2015-04-28
	50 SH. CHINA TELECOM ADR	P	2011-12-13	2015-04-28
	20 SH. CHINA TELECOM ADR	P	2011-12-14	2015-04-28
	15 SH. CITIGROUP INC.	P	2012-08-23	2015-05-15
	30 SH. CONOCOPHILLIPS	P	2011-11-25	2015-05-15
	30 SH. CUMMINS INC.	P	2013-11-06	2015-10-15
	45 SH. CUMMINS INC.	P	2013-11-07	2015-10-15
	55 SH. CUMMINS INC.	P	2013-11-07	2015-10-16
	10 SH. CVS HEALTH CORP.	P	2011-11-25	2015-05-15
	100 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-19	2015-02-27
	40 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-19	2015-03-03
	50 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-20	2015-03-03
	10 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-21	2015-03-03
	90 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-21	2015-03-04
	10 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-24	2015-03-04
	90 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-24	2015-03-05
	60 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-27	2015-03-05
	90 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-27	2015-03-06
	100 SH. DAIHATSU MOTOR CO. LTD. ADR	P	2012-12-31	2015-03-06
	5 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-13	2015-05-15
	50 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-13	2015-06-26
	55 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-13	2015-06-30
	45 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-14	2015-06-30
	5 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-14	2015-07-01
	45 SH. DBS GROUP HOLDINGS LTD. ADR	P	2014-01-16	2015-07-01
	5 SH. DOLLAR GENERAL CORP.	P	2012-12-14	2015-05-15
	15 SH. DOLLAR GENERAL CORP.	P	2012-12-17	2015-05-15
	200 SH. DOLLAR GENERAL CORP.	P	2012-12-17	2015-06-25
	100 SH. DOLLAR GENERAL CORP.	P	2012-12-17	2015-06-26
	5 SH. EDISON INTERNATIONAL	P	2015-02-26	2015-05-15
	25 SH. HITACHI LTD. ADR	P	2014-01-10	2015-05-15
	150 SH. HITACHI LTD. ADR	P	2014-01-10	2015-12-30
	35 SH. HITACHI LTD. ADR	P	2014-01-10	2015-12-31
	115 SH. HITACHI LTD. ADR	P	2014-01-13	2015-12-31
	10 SH. HSBC HOLDINGS PLC ADR	P	2014-03-25	2015-05-15
	5 SH. ILLINOIS TOOL WORKS INC.	P	2013-03-26	2015-05-15
	50 SH. IMPERIAL TOBACCO LTD. ADR	P	2011-11-29	2015-01-16
	25 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-02-09	2015-01-16
	75 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-02-09	2015-01-21
	100 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-02-10	2015-01-21
	50 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-02-13	2015-01-21
	50 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-02-13	2015-01-22
	90 SH. IMPERIAL TOBACCO LTD. ADR	P	2012-05-25	2015-01-22
	190 SH. ITOCHU CORP. ADR	P	2011-11-28	2015-04-24
	60 SH. ITOCHU CORP. ADR	P	2011-11-30	2015-04-24
	190 SH. ITOCHU CORP. ADR	P	2011-11-30	2015-04-27
	110 SH. ITOCHU CORP. ADR	P	2012-02-09	2015-04-27
	240 SH. ITOCHU CORP. ADR	P	2012-02-09	2015-04-28
	150 SH. ITOCHU CORP. ADR	P	2012-02-14	2015-04-28
	50 SH. ITOCHU CORP. ADR	P	2012-02-15	2015-04-28
	140 SH. ITOCHU CORP. ADR	P	2012-05-29	2015-04-28
	120 SH. ITOCHU CORP. ADR	P	2012-10-23	2015-04-28
	150 SH. ITOCHU CORP. ADR	P	2012-10-23	2015-06-09
	100 SH. ITOCHU CORP. ADR	P	2012-10-23	2015-06-10
	30 SH. J SAINSBURY SPON ADR	P	2013-06-10	2015-05-15
	750 SH. KDDI CORP. ADR	P	2013-01-29	2015-05-05
	250 SH. KDDI CORP. ADR	P	2013-01-29	2015-05-06
	90 SH. KDDI CORP. ADR	P	2013-01-29	2015-05-15
	750 SH. KDDI CORP. ADR	P	2013-01-29	2015-06-09
	250 SH. KDDI CORP. ADR	P	2013-01-29	2015-06-10
	85 SH. KEYCORP	P	2013-10-25	2015-05-15
	165 SH. KEYCORP	P	2013-10-25	2015-10-15
	335 SH. KEYCORP	P	2013-10-28	2015-10-15
	215 SH. KEYCORP	P	2013-10-28	2015-10-16
	250 SH. KEYCORP	P	2013-10-30	2015-10-16
	35 SH. KEYCORP	P	2014-01-09	2015-10-16
	5 SH. KIRBY CORP.	P	2014-07-02	2015-05-15
	40 SH. KIRBY CORP.	P	2014-07-02	2015-06-29
	35 SH. KIRBY CORP.	P	2014-07-07	2015-06-29
	25 SH. KIRBY CORP.	P	2014-07-07	2015-06-30
	15 SH. KIRBY CORP.	P	2014-07-07	2015-07-01
	60 SH. KIRBY CORP.	P	2014-07-10	2015-07-01
	15 SH. KIRBY CORP.	P	2014-07-10	2015-07-02
	50 SH. KIRBY CORP.	P	2014-07-11	2015-07-02
	25 SH. KIRBY CORP.	P	2014-07-14	2015-07-02
	100 SH. L BRANDS INC.	P	2013-08-12	2015-01-20
	125 SH. L BRANDS INC.	P	2014-02-11	2015-01-20
	75 SH. L BRANDS INC.	P	2014-02-11	2015-01-21
	50 SH. L BRANDS INC.	P	2014-02-12	2015-01-22
	190 SH. LORILLARD INC.	P	2013-09-27	2015-02-26
	135 SH. LORILLARD INC.	P	2013-09-30	2015-02-26
	15 SH. LORILLARD INC.	P	2013-09-30	2015-02-27
	10 SH. MACY'S INC.	P	2012-02-10	2015-05-15
	20 SH. MACY'S INC.	P	2012-02-10	2015-06-25
	80 SH. MACY'S INC.	P	2012-02-13	2015-06-25
	20 SH. MACY'S INC.	P	2012-02-13	2015-06-29
	130 SH. MACY'S INC.	P	2012-05-25	2015-06-29
	310 SH. MORGAN STANLEY GROUP INC.	P	2013-11-06	2015-01-16
	190 SH. MORGAN STANLEY GROUP INC.	P	2013-11-07	2015-01-16
	10 SH. MORGAN STANLEY GROUP INC.	P	2013-11-07	2015-05-15
	20 SH. MORGAN STANLEY GROUP INC.	P	2014-05-19	2015-05-15
	100 SH. MYLAN NV	P	2013-11-15	2015-04-15
	200 SH. MYLAN NV	P	2013-11-18	2015-04-15
	100 SH. MYLAN NV	P	2013-11-19	2015-04-15
	100 SH. MYLAN NV	P	2013-11-19	2015-05-01
	200 SH. MYLAN NV	P	2013-11-21	2015-05-01
	20 SH. MYLAN NV	P	2013-11-22	2015-05-15
	230 SH. MYLAN NV	P	2013-11-22	2015-10-15
	20 SH. MYLAN NV	P	2014-09-12	2015-10-15
	150 SH. MYLAN NV	P	2014-09-12	2015-10-15
	125 SH. MYLAN NV	P	2014-09-12	2015-10-16
	105 SH. MYLAN NV	P	2014-09-12	2015-10-19
	15 SH. NIELSEN HOLDINGS PLC	P	2013-02-21	2015-05-15
	5 SH. NIKE INC. - CLASS B	P	2014-09-12	2015-05-15
	150 SH. NIKE INC. - CLASS B	P	2014-09-12	2015-09-28
	50 SH. NIKE INC. - CLASS B	P	2014-09-12	2015-09-29
	20 SH. NXP SEMICONDUCTORS NV	P	2014-03-19	2015-05-15
	10,540.184 SH. OW STRATEGIC OPPORTUNITIES FUND	P	2009-05-08	2015-10-13
	2,839.450 SH. OW SMALL & MID CAP FUND	P	2009-04-16	2015-01-27
	24,818.820 SH. OW SMALL & MID CAP FUND	P	2009-07-16	2015-01-27
	5,807.201 SH. OW SMALL & MID CAP FUND	P	2009-07-16	2015-05-14
	1,366.669 SH. OW SMALL & MID CAP FUND	P	2009-07-16	2015-10-13
	6,257.219 SH. OW SMALL & MID CAP FUND	P	2009-08-12	2015-10-13
	5,952.381 SH. OW LARGE CAP STRATEGIES FUND	P	2009-03-31	2015-05-14
	3,231.729 SH. OW LARGE CAP STRATEGIES FUND	P	2009-03-31	2015-10-13
	12,641.287 SH. OW LARGE CAP STRATEGIES FUND	P	2009-04-16	2015-10-13
	3,526.98 SH. OLD WESTBURY REAL RETURN FUND	P	2009-05-08	2015-03-18
	1,981.23 SH. OLD WESTBURY REAL RETURN FUND	P	2010-03-03	2015-03-18
	2,010.58 SH. OLD WESTBURY REAL RETURN FUND	P	2010-03-23	2015-03-18
	1,921.13 SH. OLD WESTBURY REAL RETURN FUND	P	2010-04-16	2015-03-18
	1,953.13 SH. OLD WESTBURY REAL RETURN FUND	P	2010-07-09	2015-03-18
	1,898.05 SH. OLD WESTBURY REAL RETURN FUND	P	2010-07-23	2015-03-18
	11,883.00 SH. OLD WESTBURY REAL RETURN FUND	P	2011-02-15	2015-03-18
	11,926.61 SH. OLD WESTBURY REAL RETURN FUND	P	2011-03-09	2015-03-18
	5,636.98 SH. OLD WESTBURY REAL RETURN FUND	P	2012-06-22	2015-03-18
	5,500.55 SH. OLD WESTBURY REAL RETURN FUND	P	2014-05-21	2015-03-18
	120 SH. ORIX CORP.	P	2014-08-05	2015-05-15
	750 SH. ORIX CORP.	P	2014-08-05	2015-06-09
	230 SH. ORIX CORP.	P	2014-08-05	2015-06-10
	20 SH. ORIX CORP.	P	2014-08-06	2015-06-10
	10 SH. PANDORA A/S ADR	P	2014-02-27	2015-05-15
	95 SH. PANDORA A/S ADR	P	2014-02-27	2015-08-12
	105 SH. PANDORA A/S ADR	P	2014-02-28	2015-08-12
	200 SH. PANDORA A/S ADR	P	2014-02-28	2015-08-13
	50 SH. PFIZER INC.	P	2013-04-29	2015-05-15
	500 SH. PFIZER INC.	P	2013-04-29	2015-06-25
	20 SH. PVH CORP.	P	2015-02-27	2015-05-15
	200 SH. QUALCOMM INC.	P	2012-11-30	2015-02-26
	25 SH. QUALCOMM INC.	P	2012-11-30	2015-05-15
	250 SH. QUALCOMM INC.	P	2012-11-30	2015-06-25
	135 SH. QUALCOMM INC.	P	2012-11-30	2015-06-26
	40 SH. QUALCOMM INC.	P	2013-03-06	2015-06-26
	110 SH. QUALCOMM INC.	P	2013-03-06	2015-06-29
	45 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-02-22	2015-05-15
	805 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-02-22	2015-08-03
	750 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-02-25	2015-08-03
	250 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-05	2015-08-03
	445 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-26	2015-08-03
	55 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-26	2015-08-04
	250 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-27	2015-08-04
	445 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-28	2015-08-04
	55 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-03-28	2015-09-10
	250 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-04-02	2015-09-10
	195 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-06-17	2015-09-10
	55 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-06-17	2015-09-11
	195 SH. RSA INSURANCE GROUP INC. SPON ADR	P	2013-06-18	2015-09-11
	465 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-15	2015-02-26
	135 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-18	2015-02-26
	315 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-18	2015-02-27
	350 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-19	2015-02-27
	85 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-20	2015-02-27
	65 SH. SKANDINAVISKA ENSKILDA ADR	P	2013-11-20	2015-03-02
	25 SH. SKY PLC ADR	P	2014-03-03	2015-05-15
	50 SH. SKY PLC ADR	P	2014-03-03	2015-06-08
	45 SH. SKY PLC ADR	P	2014-03-03	2015-06-11
	55 SH. SKY PLC ADR	P	2014-03-04	2015-06-11
	95 SH. SKY PLC ADR	P	2014-03-04	2015-06-12
	5 SH. SKY PLC ADR	P	2014-03-05	2015-06-12
	95 SH. SKY PLC ADR	P	2014-03-05	2015-06-15
	5 SH. SKY PLC ADR	P	2014-03-19	2015-06-15
	35 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-08-22	2015-05-15
	155 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-08-22	2015-10-15
	100 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-08-23	2015-10-15
	95 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-09-20	2015-10-15
	155 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-09-20	2015-10-19
	95 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-09-23	2015-10-19
	155 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-09-23	2015-10-20
	45 SH. SUMITOMO METAL MINING CO. LTD.	P	2013-10-07	2015-10-20
	60 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-18	2015-05-15
	5 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-21	2015-05-15
	50 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-21	2015-06-08
	95 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-21	2015-06-09
	205 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-23	2015-06-09
	45 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-23	2015-06-11
	205 SH. SVENSKA CL AKTIBLGT ADR	P	2013-10-25	2015-06-11
	100 SH. TERADATA CORP.	P	2014-06-30	2015-05-15
	150 SH. TERADATA CORP.	P	2014-06-30	2015-10-15
	100 SH. TERADATA CORP.	P	2014-06-30	2015-10-15
	100 SH. TERADATA CORP.	P	2014-06-30	2015-10-16
	150 SH. TERADATA CORP.	P	2014-06-30	2015-10-20
	50 SH. TERADATA CORP.	P	2014-06-30	2015-10-21
	50 SH. TERADATA CORP.	P	2014-07-01	2015-10-21
	100 SH. TERADATA CORP.	P	2014-07-01	2015-10-22
	100 SH. TERADATA CORP.	P	2014-09-12	2015-10-26
	100 SH. TERADATA CORP.	P	2014-09-12	2015-10-27
	125 SH. TERADATA CORP.	P	2014-09-15	2015-10-28
	25 SH. TERADATA CORP.	P	2014-09-15	2015-10-29
	20 SH. THERMO FISHER SCIENTIFIC	P	2012-10-23	2015-05-15
	50 SH. TIM PARTICIPACOES SA ADR	P	2012-02-08	2015-05-15
	50 SH. TIM PARTICIPACOES SA ADR	P	2012-02-09	2015-10-15
	50 SH. TIM PARTICIPACOES SA ADR	P	2012-02-09	2015-10-16
	50 SH. TIM PARTICIPACOES SA ADR	P	2012-02-10	2015-10-16
	50 SH. TIM PARTICIPACOES SA ADR	P	2012-06-26	2015-10-16
	80 SH. TIM PARTICIPACOES SA ADR	P	2012-06-26	2015-10-19
	70 SH. TIM PARTICIPACOES SA ADR	P	2013-03-25	2015-10-19
	80 SH. TIM PARTICIPACOES SA ADR	P	2013-03-25	2015-10-20
	70 SH. TIM PARTICIPACOES SA ADR	P	2013-03-26	2015-10-20
	25 SH. TIM PARTICIPACOES SA ADR	P	2013-03-26	2015-10-22
	50 SH. TIM PARTICIPACOES SA ADR	P	2013-03-26	2015-10-23
	50 SH. TIM PARTICIPACOES SA ADR	P	2013-03-26	2015-10-26
	5 SH. TIM PARTICIPACOES SA ADR	P	2013-03-26	2015-10-27
	50 SH. TIM PARTICIPACOES SA ADR	P	2013-03-27	2015-10-27
	20 SH. TIM PARTICIPACOES SA ADR	P	2013-03-28	2015-10-27
	80 SH. TIM PARTICIPACOES SA ADR	P	2013-03-28	2015-10-28
	20 SH. TIM PARTICIPACOES SA ADR	P	2013-04-01	2015-10-28
	80 SH. TIM PARTICIPACOES SA ADR	P	2013-04-01	2015-10-29
	100 SH. TIM PARTICIPACOES SA ADR	P	2013-04-02	2015-10-29
	35 SH. TOKYO GAS LTD. ADR	P	2011-12-02	2015-05-15
	27 SH. TOKYO GAS LTD. ADR	P	2011-12-02	2015-06-09
	273 SH. TOKYO GAS LTD. ADR	P	2012-02-27	2015-06-09
	150 SH. TOKYO GAS LTD. ADR	P	2012-02-27	2015-06-10
	50 SH. TOKYO GAS LTD. ADR	P	2012-02-27	2015-06-11
	30 SH. UNILEVER NV	P	2014-11-03	2015-05-15
	50 SH. UNILEVER NV	P	2014-11-03	2015-06-05
	150 SH. UNILEVER NV	P	2014-11-03	2015-06-08
	55 SH. UNION PACIFIC CORP.	P	2013-08-29	2015-01-16
	45 SH. UNION PACIFIC CORP.	P	2013-08-30	2015-01-16
	40 SH. UNION PACIFIC CORP.	P	2013-08-30	2015-05-15
	10 SH. UNITED RENTALS INC.	P	2014-03-25	2015-05-15
	125 SH. VALEANT PHARMACEUTICALS INT'L INC.	P	2015-05-01	2015-10-26
	50 SH. VALEANT PHARMACEUTICALS INT'L INC.	P	2015-05-04	2015-10-26
	5 SH. VALERO ENERGY	P	2014-01-09	2015-05-15
	125 SH. VALERO ENERGY	P	2014-01-09	2015-08-18
	65 SH. VALERO ENERGY	P	2014-01-09	2015-08-20
	150 SH. VALERO ENERGY	P	2014-01-10	2015-08-20
	165 SH. VIACOM INC. - CLASS B	P	2013-04-11	2015-02-26
	135 SH. VIACOM INC. - CLASS B	P	2014-05-19	2015-02-26
	65 SH. VIACOM INC. - CLASS B	P	2014-05-19	2015-09-28
	150 SH. VIACOM INC. - CLASS B	P	2014-05-20	2015-09-28
	10 SH. VIACOM INC. - CLASS B	P	2014-05-27	2015-09-28
	140 SH. VIACOM INC. - CLASS B	P	2014-05-27	2015-09-29
	15 SH. WHARF HOLDINGS ADR	P	2011-12-06	2015-05-15
	30 SH. WILMAR INTERNATIONAL ADR	P	2014-02-12	2015-05-15
	15 SH. WILMAR INTERNATIONAL ADR	P	2014-02-14	2015-05-15
	45 SH. YUM BRANDS INC.	P	2014-09-12	2015-05-15
	100 SH. YUM BRANDS INC.	P	2014-09-12	2015-06-26
	130 SH. YUM BRANDS INC.	P	2014-09-12	2015-06-29
	20 SH. YUM BRANDS INC.	P	2014-09-15	2015-06-29
	80 SH. YUM BRANDS INC.	P	2014-09-15	2015-12-14
	170 SH. YUM BRANDS INC.	P	2014-10-16	2015-12-14
	10 SH. ZIMMER BIOMET HOLDINGS INC.	P	2012-05-07	2015-05-15
	$25,000 AT&T INC. 1.4% 12-1-17	P	2015-02-10	2015-04-27
	$100,000 BB&T CORPORATION 2.15% 3-22-17	P	2012-07-19	2015-01-21
	$125,000 BERKSHIRE HATHAWAY INC. 3.2% 2-11-15	P	2010-02-12	2015-02-11
	$80,000 CITIGROUP INC. 1.55% 8-14-17	P	2014-08-14	2015-02-10
	$50,000 DEUTSCHE BANK AG 3.45% 3-30-15	P	2010-03-30	2015-01-21
	$100,000 DULUTH MINNESOTA 3.5% 2-1-15	P	2010-05-07	2015-02-02
	$50,000 FANNIE MAE 1.00% 9-27-17	P	2015-03-31	2015-10-09
	$20,000 FEDERAL HOME LOAN BANK 0.25% 2-20-15	P	2013-01-25	2015-02-20
	$15,000 FED HOME LOAN MTGE CORP 0.875% 2-22-17	P	2014-02-03	2015-04-02
	$55,000 FEDERAL HOME LOAN MTGE CORP 1.000% 3-8-17	P	2013-12-17	2015-04-02
	$20,000 FEDERAL HOME LOAN MTGE CORP 1.000% 3-8-17	P	2013-12-17	2015-10-14
	$788.49 FED HOME LOAN MTGE CORP POOL 5.5% 6-1-22	P	2007-05-14	2015-12-15
	$2,699.25 FED HOME LOAN MTGE CORP POOL 4% 6-1-18	P	2003-06-25	2015-12-15
	$2,412.84 FED HOME LOAN MTGE CORP POOL 5% 7-1-20	P	2005-09-15	2015-12-15
	$3,497.49 FED HOME LOAN MTGE CORP POOL 5% 6-1-34	P	2004-10-19	2015-12-15
	$80,000 FED HOME LOAN MTGE ASSOC 1.25% 1-30-17	P	2014-10-07	2015-10-14
	$2,114.74 FED NATL MTGE ASSOC POOL 5.5% 2-1-17	P	2002-09-19	2015-12-28
	$3,599.58 FEDERAL NATL MTGE ASSOC POOL 5% 3-1-18	P	2008-02-12	2015-12-28
	$1,987.26 FEDERAL NATL MTGE ASSOC POOL 5% 6-1-19	P	2006-01-04	2015-12-28
	$3,843.84 FED NATL MTGE ASSOC POOL 5.5% 11-1-22	P	2008-03-14	2015-12-28
	$1,783.96 FEDERAL NATL MTGE ASSOC POOL 5% 5-1-28	P	2008-04-29	2015-12-28
	$6,918.13 FED NATL MTGE ASSOC POOL 5.5% 4-1-34	P	2006-01-04	2015-12-28
	$244.33 FED NATL MTGE ASSOC POOL 5.299% 6-1-34	P	2006-10-18	2015-12-28
	$890.80 FEDERAL NATL MTGE ASSOC POOL 5% 5-1-35	P	2008-05-29	2015-12-28
	$5,000.15 FED NATL MTGE ASSOC POOL 5.5% 10-1-35	P	2005-10-18	2015-12-28
	$3,971.89 GNMA POOL 1.75% 4-20-34	P	2004-03-16	2015-12-21
	$80,000 HEWLETT-PACKARD CO. 1.261% 1-14-19	P	2014-01-14	2015-10-16
	$116,000 JPMORGAN CHASE CO. 1.406% 9-22-15	P	2013-03-13	2015-09-22
	$11,000 TYCO INT'L FINANCE 3.375% 10-15-15	P	2010-05-05	2015-03-20
	$55,000 U.S. TREASURY NOTE 0.875% 5-15-17	P	2014-09-03	2015-01-16
	$65,000 U.S. TREASURY NOTE 0.875% 5-15-17	P	2014-09-03	2015-01-16
	$5,000 U.S. TREASURY NOTE 0.875% 5-15-17	P	2014-09-04	2015-01-16
	$82,000 U.S. TREASURY NOTE 0.875% 5-15-17	P	2014-09-04	2015-05-18
	$65,000 U.S. TREASURY NOTE 1.000% 12-15-17	P	2015-02-02	2015-11-20
	$55,000 U.S. TREASURY NOTE 1.875% 11-30-21	P	2014-12-16	2015-01-16
	$20,000 U.S. TREAS INFLATION IDX BD .625% 1-15-24	P	2014-05-19	2015-01-16
	$50,000 U.S. TREASURY BOND 2.375% 8-15-24	P	2014-10-08	2015-01-16
	BANK OF AMERICA SETTLEMENT FUND	P	2012-06-30	2015-08-06
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	6,807	3,202	3,605
b	4,538	2,182	2,356
c	1,606	818	788
d	8,088	3,875	4,213
e	9,885	4,704	5,181
	8,158	3,849	4,309
	4,532	2,140	2,392
	5,439	2,722	2,717
	3,855	1,588	2,267
	13,541	4,764	8,777
	6,448	2,299	4,149
	9,028	4,788	4,240
	3,189	1,710	1,479
	16,342	12,201	4,141
	4,305	3,269	1,036
	16,144	12,397	3,747
	1,076	825	251
	4,323	3,301	1,022
	1,081	817	264
	2,625	2,042	583
	1,551	1,225	326
	1,034	796	238
	5,143	3,980	1,163
	1,893	1,066	827
	12,836	14,450	-1,614
	1,232	339	893
	9,186	2,539	6,647
	9,161	2,539	6,622
	631	546	85
	5,435	5,192	243
	1,716	1,547	169
	1,463	1,289	174
	6,076	9,255	-3,179
	4,419	6,879	-2,460
	1,755	1,620	135
	5,861	5,401	460
	8,792	8,183	609
	969	909	60
	3,267	2,719	548
	6,534	5,447	1,087
	1,642	1,362	280
	6,340	5,421	919
	6,344	5,421	923
	4,293	3,792	501
	6,393	5,657	736
	2,123	1,886	237
	2,123	1,899	224
	2,123	1,908	215
	4,247	3,805	442
	2,191	1,903	288
	1,832	1,497	335
	3,665	2,966	699
	5,497	4,397	1,100
	2,202	1,769	433
	3,670	2,983	687
	5,138	4,222	916
	2,228	1,810	418
	3,714	3,003	711
	1,485	1,185	300
	807	448	359
	1,960	1,581	379
	3,362	3,862	-500
	5,043	5,855	-812
	6,096	7,156	-1,060
	1,003	378	625
	2,902	3,747	-845
	1,157	1,499	-342
	1,447	1,889	-442
	289	383	-94
	2,583	3,451	-868
	287	388	-101
	2,593	3,493	-900
	1,729	2,400	-671
	2,646	3,600	-954
	2,940	4,028	-1,088
	313	272	41
	3,119	2,722	397
	3,407	2,995	412
	2,788	2,465	323
	306	274	32
	2,749	2,455	294
	374	216	158
	1,121	647	474
	15,712	8,624	7,088
	7,843	4,312	3,531
	298	323	-25
	1,707	1,978	-271
	8,585	11,868	-3,283
	1,991	2,769	-778
	6,541	9,254	-2,713
	485	494	-9
	478	315	163
	4,493	3,510	983
	2,247	1,901	346
	6,451	5,703	748
	8,602	7,687	915
	4,301	3,820	481
	4,380	3,819	561
	7,884	6,790	1,094
	4,500	3,708	792
	1,421	1,146	275
	4,526	3,630	896
	2,621	2,548	73
	5,717	5,559	158
	3,573	3,448	125
	1,191	1,146	45
	3,335	2,987	348
	2,859	2,456	403
	4,009	3,069	940
	2,631	2,046	585
	531	682	-151
	9,091	4,333	4,758
	2,926	1,444	1,482
	1,064	520	544
	8,366	4,333	4,033
	2,796	1,444	1,352
	1,251	1,078	173
	2,160	2,093	67
	4,385	4,243	142
	2,804	2,723	81
	3,260	3,180	80
	456	473	-17
	410	578	-168
	3,152	4,620	-1,468
	2,758	4,116	-1,358
	1,950	2,940	-990
	1,162	1,764	-602
	4,648	6,984	-2,336
	1,156	1,746	-590
	3,854	5,804	-1,950
	1,927	2,902	-975
	8,203	5,680	2,523
	10,253	6,752	3,501
	6,070	4,051	2,019
	4,039	2,712	1,327
	13,039	8,517	4,522
	9,265	6,021	3,244
	1,038	669	369
	652	358	294
	1,399	717	682
	5,596	2,875	2,721
	1,407	719	688
	9,148	4,755	4,393
	11,221	9,070	2,151
	6,877	5,562	1,315
	377	293	84
	754	605	149
	6,938	4,107	2,831
	13,875	8,192	5,683
	6,937	4,191	2,746
	7,284	4,192	3,092
	14,566	8,373	6,193
	1,404	839	565
	9,802	9,647	155
	852	953	-101
	6,450	7,152	-702
	5,300	5,960	-660
	4,418	5,006	-588
	667	488	179
	512	410	102
	17,354	12,298	5,056
	5,707	4,100	1,607
	2,038	1,154	884
	80,000	65,033	14,967
	46,198	27,969	18,229
	403,802	271,518	132,284
	100,000	63,531	36,469
	21,511	14,951	6,560
	98,489	72,897	25,592
	80,000	40,179	39,821
	40,720	21,814	18,906
	159,280	90,891	68,389
	23,081	31,037	-7,956
	12,965	19,000	-6,035
	13,157	19,000	-5,843
	12,572	19,000	-6,428
	12,781	17,500	-4,719
	12,421	17,500	-5,079
	77,763	130,000	-52,237
	78,049	130,000	-51,951
	36,889	50,000	-13,111
	35,996	50,000	-14,004
	1,942	1,969	-27
	12,034	12,306	-272
	3,541	3,774	-233
	308	327	-19
	257	161	96
	2,735	1,530	1,205
	3,022	1,732	1,290
	5,699	3,299	2,400
	1,687	1,552	135
	17,170	15,521	1,649
	2,096	2,232	-136
	14,122	12,452	1,670
	1,721	1,556	165
	16,864	15,565	1,299
	9,051	8,405	646
	2,682	2,655	27
	7,263	7,302	-39
	307	471	-164
	6,377	8,424	-2,047
	5,942	6,830	-888
	1,980	2,228	-248
	3,526	3,958	-432
	438	489	-51
	1,992	2,241	-249
	3,546	3,977	-431
	416	492	-76
	1,891	2,196	-305
	1,475	1,766	-291
	425	498	-73
	1,507	1,771	-264
	5,591	5,477	114
	1,623	1,564	59
	3,849	3,649	200
	4,277	4,111	166
	1,039	1,007	32
	804	770	34
	1,679	1,574	105
	3,250	3,148	102
	2,826	2,833	-7
	3,454	3,463	-9
	5,929	5,982	-53
	312	317	-5
	6,034	6,017	17
	317	308	9
	529	497	32
	1,991	2,200	-209
	1,284	1,401	-117
	1,220	1,292	-72
	1,926	2,108	-182
	1,181	1,293	-112
	1,960	2,110	-150
	569	632	-63
	1,558	1,482	76
	130	122	8
	1,331	1,219	112
	2,515	2,317	198
	5,427	5,486	-59
	1,155	1,204	-49
	5,263	5,685	-422
	3,993	4,202	-209
	4,400	6,303	-1,903
	2,872	4,202	-1,330
	2,841	4,202	-1,361
	4,282	6,302	-2,020
	1,423	2,101	-678
	1,423	2,069	-646
	2,885	4,139	-1,254
	2,854	4,537	-1,683
	2,827	4,537	-1,710
	3,527	5,651	-2,124
	705	1,130	-425
	2,594	1,178	1,416
	732	1,399	-667
	515	1,383	-868
	501	1,383	-882
	501	1,405	-904
	501	1,322	-821
	817	2,116	-1,299
	714	1,464	-750
	817	1,673	-856
	714	1,455	-741
	246	520	-274
	490	1,039	-549
	483	1,039	-556
	50	104	-54
	499	1,048	-549
	200	423	-223
	825	1,690	-865
	206	432	-226
	871	1,729	-858
	1,089	2,188	-1,099
	801	586	215
	591	452	139
	5,978	5,044	934
	3,267	2,771	496
	1,084	924	160
	1,320	1,136	184
	2,138	1,893	245
	6,372	5,678	694
	6,238	4,328	1,910
	5,104	3,483	1,621
	4,237	3,096	1,141
	1,029	943	86
	13,123	25,564	-12,441
	5,249	10,362	-5,113
	288	250	38
	8,742	6,247	2,495
	4,505	3,248	1,257
	10,396	7,577	2,819
	11,505	10,724	781
	9,413	11,217	-1,804
	2,839	5,402	-2,563
	6,549	12,419	-5,870
	437	842	-405
	6,059	11,791	-5,732
	214	149	65
	727	768	-41
	364	387	-23
	4,069	3,245	824
	9,210	7,211	1,999
	11,920	9,375	2,545
	1,834	1,448	386
	6,073	5,794	279
	12,905	11,700	1,205
	1,125	637	488
	25,009	24,852	157
	102,222	102,909	-687
	125,000	124,943	57
	79,810	79,888	-78
	50,280	49,914	366
	100,000	101,966	-1,966
	50,291	50,203	88
	20,000	19,982	18
	15,086	15,028	58
	55,422	55,260	162
	20,129	20,095	34
	789	788	1
	2,699	2,740	-41
	2,413	2,423	-10
	3,498	3,481	17
	80,762	80,862	-100
	2,115	2,175	-60
	3,600	3,646	-46
	1,987	1,972	15
	3,844	3,917	-73
	1,784	1,771	13
	6,918	6,877	41
	244	241	3
	891	858	33
	5,000	4,968	32
	3,972	4,020	-48
	80,800	80,000	800
	116,000	118,108	-2,108
	11,150	10,964	186
	55,335	55,043	292
	65,396	65,051	345
	5,030	5,002	28
	82,500	82,029	471
	65,079	65,462	-383
	56,100	54,955	1,145
	20,907	20,624	283
	52,529	50,074	2,455
	1,677		1,677
	280,868		280,868

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			3,605
b			2,356
c			788
d			4,213
e			5,181
			4,309
			2,392
			2,717
			2,267
			8,777
			4,149
			4,240
			1,479
			4,141
			1,036
			3,747
			251
			1,022
			264
			583
			326
			238
			1,163
			827
			-1,614
			893
			6,647
			6,622
			85
			243
			169
			174
			-3,179
			-2,460
			135
			460
			609
			60
			548
			1,087
			280
			919
			923
			501
			736
			237
			224
			215
			442
			288
			335
			699
			1,100
			433
			687
			916
			418
			711
			300
			359
			379
			-500
			-812
			-1,060
			625
			-845
			-342
			-442
			-94
			-868
			-101
			-900
			-671
			-954
			-1,088
			41
			397
			412
			323
			32
			294
			158
			474
			7,088
			3,531
			-25
			-271
			-3,283
			-778
			-2,713
			-9
			163
			983
			346
			748
			915
			481
			561
			1,094
			792
			275
			896
			73
			158
			125
			45
			348
			403
			940
			585
			-151
			4,758
			1,482
			544
			4,033
			1,352
			173
			67
			142
			81
			80
			-17
			-168
			-1,468
			-1,358
			-990
			-602
			-2,336
			-590
			-1,950
			-975
			2,523
			3,501
			2,019
			1,327
			4,522
			3,244
			369
			294
			682
			2,721
			688
			4,393
			2,151
			1,315
			84
			149
			2,831
			5,683
			2,746
			3,092
			6,193
			565
			155
			-101
			-702
			-660
			-588
			179
			102
			5,056
			1,607
			884
			14,967
			18,229
			132,284
			36,469
			6,560
			25,592
			39,821
			18,906
			68,389
			-7,956
			-6,035
			-5,843
			-6,428
			-4,719
			-5,079
			-52,237
			-51,951
			-13,111
			-14,004
			-27
			-272
			-233
			-19
			96
			1,205
			1,290
			2,400
			135
			1,649
			-136
			1,670
			165
			1,299
			646
			27
			-39
			-164
			-2,047
			-888
			-248
			-432
			-51
			-249
			-431
			-76
			-305
			-291
			-73
			-264
			114
			59
			200
			166
			32
			34
			105
			102
			-7
			-9
			-53
			-5
			17
			9
			32
			-209
			-117
			-72
			-182
			-112
			-150
			-63
			76
			8
			112
			198
			-59
			-49
			-422
			-209
			-1,903
			-1,330
			-1,361
			-2,020
			-678
			-646
			-1,254
			-1,683
			-1,710
			-2,124
			-425
			1,416
			-667
			-868
			-882
			-904
			-821
			-1,299
			-750
			-856
			-741
			-274
			-549
			-556
			-54
			-549
			-223
			-865
			-226
			-858
			-1,099
			215
			139
			934
			496
			160
			184
			245
			694
			1,910
			1,621
			1,141
			86
			-12,441
			-5,113
			38
			2,495
			1,257
			2,819
			781
			-1,804
			-2,563
			-5,870
			-405
			-5,732
			65
			-41
			-23
			824
			1,999
			2,545
			386
			279
			1,205
			488
			157
			-687
			57
			-78
			366
			-1,966
			88
			18
			58
			162
			34
			1
			-41
			-10
			17
			-100
			-60
			-46
			15
			-73
			13
			41
			3
			33
			32
			-48
			800
			-2,108
			186
			292
			345
			28
			471
			-383
			1,145
			283
			2,455
			1,677
			280,868

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	592,370
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	952,896	15,300,110	0.062280
2013	934,415	14,852,500	0.062913
2012	997,007	14,359,351	0.069433
2011	976,943	15,694,529	0.062247
2010	1,063,978	15,462,407	0.068811

Total of line 1, column (d) .....................

20.325684

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 . . .

0.065137

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

14,580,955

Multiply line 4 by line 3......................

949,760

Enter 1% of net investment income (1% of Part I, line 27b)...........

7,009

Add lines 5 and 6........................

956,769

Enter qualifying distributions from Part XII, line 4.............

941,430

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)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	14,019
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	14,019
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	14,019
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	10,000
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	10,000
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	59
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	4,078
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?

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

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

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

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

CEHUGHESFOUNDATION.ORG

The books are in care of bullet

ARTHUR FRIEDMAN CPA Telephone no. bullet

(212) 689-0288

Located at bullet

280 MADISON AVENUE - 1007NEW YORKNY ZIP+4 bullet

10016

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here....... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 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

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2015?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2015, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2015?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?

Form 990-PF (2015)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (Continued)

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (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
BREWSTER WADDELL	PRESIDENT, DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	PRESIDENT, DIRECTOR 2.00	0	0	0
KAREN AG LOUD	VICE PRESIDENT, DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	VICE PRESIDENT, DIRECTOR 2.00	0	0	0
WILLIAM G KIRKLAND	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0
LAUREN KATZOWITZ SHENFIELD	SECRETARY, ASSISTANT TREAS 20.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	SECRETARY, ASSISTANT TREAS 20.00	0	0	0
CHRISTOPHER ANGELL	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0
MARY B CONRAD	TREASURER, DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	TREASURER, DIRECTOR 2.00	0	0	0
SANDRA H WADDELL	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0
THEODORE H WADDELL	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0
WENDY WILLIAMSON	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0
SUSAN JOHNSON MCLEAN	DIRECTOR 2.00	0	0	0
280 MADISON AVENUE - 1007 NEW YORK,NY10016	DIRECTOR 2.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
PHILANTHROPY ADVISORS LLC	FOUNDATION MANAGEMENT	150,000
PO BOX 20486 NEW YORK,NY100210068	FOUNDATION MANAGEMENT	150,000
BESSEMER INVESTMENT SERVICES	INVESTMENT MANAGEMENT SERVICES	48,790
630 FIFTH AVENUE NEW YORK,NY101110333	INVESTMENT MANAGEMENT SERVICES	48,790

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	NO DIRECT CHARITABLE ACTIVITIES	0
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	NO PROGRAM-RELATED INVESTMENTS	0
2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2015)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

14,546,840

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

253,264

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

2,896

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

14,803,000

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

14,803,000

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

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

222,045

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

14,580,955

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

729,048

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

729,048

Tax on investment income for 2015 from Part VI, line 5......

14,019

Income tax for 2015. (This does not include the tax from Part VI.)...

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

14,019

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

715,029

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

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

715,029

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

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

715,029

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

941,430

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

941,430

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

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

941,430

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)

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					715,029
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	302,084
b From 2011......	205,911
c From 2012......	294,585
d From 2013......	213,322
e From 2014......	207,696
fTotal of lines 3a through e........		1,223,598
4Qualifying distributions for 2015 from Part
XII, line 4: $ 941,430
a Applied to 2014, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2015 distributable amount.....					715,029
e Remaining amount distributed out of corpus		226,401
5 Excess distributions carryover applied to 2015.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		1,449,999
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					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) .......		0
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...		302,084
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		1,147,915
10 Analysis of line 9:
a Excess from 2011....	205,911
b Excess from 2012....	294,585
c Excess from 2013....	213,322
d Excess from 2014....	207,696
e Excess from 2015....	226,401

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

LAUREN KATZOWITZ SHENFIELD PHILANTH
PO BOX 20486
NEW YORK,NY100210068
(212) 517-8108

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

NY/NJ COMMON APPLICATION FORM.

cAny submission deadlines:

2 GRANT CYCLES PER YEAR - SPRING AND FALL.

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

NONE

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
A BETTER CHANCE IN DARIEN INC PO BOX 3204 DARIEN,CT06820	N/A	PUBLIC	GENERAL USE	2,500
ALVIN AILEY DANCE FOUNDATION INC 405 WEST 55TH STREET NEW YORK,NY10019	N/A	PUBLIC	GENERAL USE	25,000
ASHOKA INNOVATORS FOR THE PUBLIC 1700 NORTH MOORE STREET ARLINGTON,VA22209	N/A	PUBLIC	GENERAL USE	1,000
CENTRAL PARK CONSERVANCY INC 14 EAST 60TH STREET NEW YORK,NY10014	N/A	PUBLIC	GENERAL USE	27,000
CONSULTATIVE GROUP ON BIOLOGICAL DIVERSITY PO BOX 29361 SAN FRANCISCO,CA94129	N/A	PUBLIC	GENERAL USE	1,000
COPLAND HOUSE INC 1538 WASHINGTON STREET CORTLANDT MANOR,NY10567	N/A	PUBLIC	GENERAL USE	25,000
CORNELL UNIVERSITY 130 EAST SENECA STREET ITHACA,NY14850	N/A	PUBLIC	GENERAL USE	2,500
COVENANT HOUSE CALIFORNIA 1325 NORTH WESTERN AVENUE LOS ANGELES,CA90027	N/A	PUBLIC	GENERAL USE	2,000
DALLAS SYMPHONY ASSOCIATION 2301 FLORA STREET DALLAS,TX75201	N/A	PUBLIC	GENERAL USE	3,000
EARTHJUSTICE 50 CALIFORNIA STREET SAN FRANCISCO,CA94111	N/A	PUBLIC	GENERAL USE	50,000
ENVIRONMENTAL DEFENSE FUND INC 257 PARK AVENUE SOUTH NEW YORK,NY10010	N/A	PUBLIC	GENERAL USE	50,000
FIDELITY CHARITABLE GIFT FUND PO BOX 770001 CINCINNATI,OH452770053	N/A	PUBLIC	GENERAL USE	20,000
FREEDOM TO MARRY INC 116 WEST 23RD STREET NEW YORK,NY10011	N/A	PUBLIC	GENERAL USE	3,000
GLOBAL GREENGRANTS FUND 2840 WILDERNESS PLACE BOULDER,CO80301	N/A	PUBLIC	GENERAL USE	25,000
HARVARD UNIVERSITY 79 JOHN F KENNEDY STREET CAMBRIDGE,MA02138	N/A	PUBLIC	GENERAL USE	7,000
HOBART AND WILLIAM SMITH COLLEGES 615 SOUTH MAIN STREET GENEVA,NY14456	N/A	PUBLIC	GENERAL USE	3,000
RIVERKEEPER INC 20 SECOR ROAD OSSINING,NY10562	N/A	PUBLIC	GENERAL USE	25,000
ICIVICS INC 1875 K STREET NW WASHINGTON,DC20006	N/A	PUBLIC	GENERAL USE	25,000
JAZZ AT LINCOLN CENTER INC 33 WEST 60TH STREET NEW YORK,NY10023	N/A	PUBLIC	GENERAL USE	25,000
LEAGUE OF CONSERVATION VOTERS EDUCATION FUND 1920 L STREET NW WASHINGTON,DC20036	N/A	PUBLIC	GENERAL USE	25,000
NATIONAL TRUST FOR HISTORIC PRESERVATION IN THE UNITED STATES 1785 MASSACHUSETTS AVENUE NW WASHINGTON,DC20036	N/A	PUBLIC	GENERAL USE	25,000
NATIONAL WOMEN'S LAW CENTER 11 DUPONT CIRCLE NW WASHINGTON,DC20036	N/A	PUBLIC	GENERAL USE	25,000
NATURAL RESOURCES DEFENSE COUNCIL INC 40 WEST 20TH STREET NEW YORK,NY10011	N/A	PUBLIC	GENERAL USE	50,000
NEW YORK LAWYERS FOR THE PUBLIC INTEREST INC 151 WEST 30TH STREET NEW YORK,NY10001	N/A	PUBLIC	GENERAL USE	25,000
NEW YORK LEGAL ASSISTANCE GROUP INC 7 HANOVER SQUARE NEW YORK,NY10004	N/A	PUBLIC	GENERAL USE	25,000
NORTH COUNTRY SCHOOL AND CAMP TREETOPS PO BOX 187 LAKE PLACID,NY12946	N/A	PUBLIC	GENERAL USE	3,000
PORTLAND MUSEUM OF ART SEVEN CONGRESS SQUARE PORTLAND,ME04101	N/A	PUBLIC	GENERAL USE	10,000
PRINCETON UNIVERSITY PO BOX 46 PRINCETON,NJ08544	N/A	PUBLIC	GENERAL USE	1,000
RUMSEY HALL SCHOOL INC 201 ROMFORD ROAD WASHINGTON DEPOT,CT06794	N/A	PUBLIC	GENERAL USE	1,000
SANCTUARY FOR FAMILIES BOX 1406 WALL STREET STATION NEW YORK,NY10268	N/A	PUBLIC	GENERAL USE	25,000
SANTA FE INTERNATIONAL FOLK ART MARKET 404 KIVA COURT SANTA FE,NM87505	N/A	PUBLIC	GENERAL USE	20,000
SANTA FE OPERA PO BOX 2408 SANTA FE,NM87504	N/A	PUBLIC	GENERAL USE	5,000
TEACH FOR AMERICA INC 714 MARKET STREET PHILADELPHIA,PA19106	N/A	PUBLIC	GENERAL USE	5,000
THE ANDREW SHAW MEMORIAL TRUST PO BOX 2315 DARIEN,CT06820	N/A	PUBLIC	GENERAL USE	1,000
THE CHESTER FUND FOR EDUCATION AND THE ARTS INC 510 WESTMINSTER AVENUE SWARTHMORE,PA19081	N/A	PUBLIC	GENERAL USE	4,000
THE FOUNDATION CENTER 79 FIFTH AVENUE NEW YORK,NY10003	N/A	PUBLIC	GENERAL USE	2,250
THE LEGAL AID SOCIETY 199 WATER STREET NEW YORK,NY10038	N/A	PUBLIC	GENERAL USE	60,000
WASHINGTON AND JEFFERSON COLLEGE 60 SOUTH LINCOLN STREET WASHINGTON,PA153019990	N/A	PUBLIC	GENERAL USE	10,000
WILLIAM J BRENNAN JR CENTER FOR JUSTICE INC 161 AVENUE OF THE AMERICAS NEW YORK,NY10013	N/A	PUBLIC	GENERAL USE	25,000
CENTRAL ARIZONA SHELTER SERVICES 230 SOUTH 12TH AVENUE PHOENIX,AZ85007	N/A	PUBLIC	GENERAL USE	2,000
GLOBAL FUND FOR WOMEN 1460 BROADWAY NEW YORK,NY10036	N/A	PUBLIC	GENERAL USE	2,000
NATIONAL FOUNDATION FOR CANCER RESEARCH 4600 EAST-WEST HWY 525 BETHESDA,MD20814	N/A	PUBLIC	GENERAL USE	5,000
NEW YORK FOUNDATION FOR THE ARTS 20 JAY STREET BROOKLYN,NY11201	N/A	PUBLIC	GENERAL USE	50,000
FRIENDS OF ISLAND ACADEMY 127 WEST 127TH STREET NEW YORK,NY10027	N/A	PUBLIC	GENERAL USE	25,000
PERFORMANCE SANTA FE 324 PASEO DE PERALTA SANTA FE,NM87501	N/A	PUBLIC	GENERAL USE	5,000
Total ................................. 3a				758,250

bApproved for future payment

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

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	30
4 Dividends and interest from securities....			14	184,704
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	592,370
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		777,104	0

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

13777,104

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2015)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMERICAN EXPRESS CREDIT, 2.375%, 3-24-17	50,385	50,385
ANHEUSER-BUSCH INBEV WORLDWIDE, 1.375%, 7-15-17	69,497	69,497
APPLE INC. FLOATING RATE NOTE, 0.584%, 5-3-18	64,960	64,960
AT&T INC., 1.4%, 12-1-17	54,844	54,844
BANK OF AMERICA CORP., 1.655%, 3-22-18	80,629	80,629
BANK OF NEW YORK MELLON, 1.969%, 6-20-17	60,408	60,408
COCA-COLA CO., 1.8%, 9-1-16	65,229	65,229
DUKE ENERGY CORP., 1.625%, 8-15-17	70,139	70,139
EXXON MOBIL CORPORATION, 1.305%, 3-6-18	79,906	79,906
GENERAL ELECTRIC CAPITAL CORP., 2.9%, 1-9-17	76,202	76,202
JPMORGAN CHASE & CO. FLOATING RATE NOTE, 0.953%, 1-28-19	64,619	64,619
KFW BANKENGRUPPE, 1.25%, 2-15-17	75,167	75,167
TOYOTA MOTOR CREDIT CORP., 1.125%, 5-16-17	74,923	74,923
UNITEDHEALTH GROUP INC., 1.4%, 12-15-17	79,770	79,770

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ACCOR	17,376	17,376
ACE LIMITED	26,291	26,291
AETNA INC.	32,977	32,977
ALPHABET INC. - CLASS C	72,094	72,094
AMERICAN INTERNATIONAL GROUP INC.	20,760	20,760
AMERICAN WATER WORKS CO.	40,630	40,630
APPLE INC.	86,840	86,840
ASTRAZENECA PLC	44,245	44,245
ATOS	21,025	21,025
AVAGO TECHNOLOGIES	31,933	31,933
BNP PARIBAS SPON ADR	36,596	36,596
BRIDGESTONE CORP. ADR	17,349	17,349
CDW CORP.	21,020	21,020
CHINA TELECOM ADR	25,780	25,780
CITIGROUP INC.	40,882	40,882
COMMUNITY HEALTH SYSTEMS INC.	17,244	17,244
CONOCOPHILLIPS	45,523	45,523
CVS HEALTH CORP.	58,173	58,173
DBS GROUP HOLDINGS LTD ADR	35,530	35,530
DISCOVER FINANCIAL SERVICES	53,620	53,620
DOLLAR GENERAL CORP.	52,824	52,824
EDISON INTERNATIONAL	35,230	35,230
ELECTRIC POWER DEVELOPMENT CORP.	30,586	30,586
ENAGAS SA	16,939	16,939
ENCANA CORP.	9,877	9,877
ENI S.P.A. ADR	20,860	20,860
HITACHI LTD ADR	22,131	22,131
HSBC HOLDINGS PLC ADR	37,299	37,299
ILLINOIS TOOL WORKS INC.	24,560	24,560
ING GROEP NV	25,684	25,684
ITOCHU CORP. ADR	17,261	17,261
J SAINSBURY SPON ADR	28,380	28,380
KDDI CORP. ADR	21,171	21,171
KEYCORP	42,406	42,406
KINGFISHER	24,290	24,290
LM ERICSSON TELEPHONE CO. - CLASS B	17,965	17,965
MACY'S INC.	12,943	12,943
MEDIOBANCA SPA ADR	17,374	17,374
MORGAN STANLEY GROUP INC.	26,402	26,402
NIELSEN HOLDINGS PLC	25,397	25,397
NIKE INC. - CLASS B	43,125	43,125
NISSAN MOTOR	29,274	29,274
NOKIA AB	32,225	32,225
NXP SEMICONDUCTORS NV	46,337	46,337
OLD WESTBURY LARGE CAP STRATEGIES FUND	4,730,905	4,730,905
OLD WESTBURY SMALL & MID CAP FUND	1,642,190	1,642,190
OLD WESTBURY STRATEGIC OPPORTUNITIES FUND	2,563,411	2,563,411
ORIX CORP.	37,535	37,535
OTSUKA HOLDINGS CO. LTD.	19,754	19,754
PANDORA A/S ADR	22,054	22,054
PEPSICO INC.	47,462	47,462
PFIZER INC.	56,651	56,651
PVH CORP.	35,352	35,352
RAYTHEON CO.	77,831	77,831
RIO TINTO LTD.	22,784	22,784
ROYAL CARIBBEAN CRUISES LTD.	25,303	25,303
RSA INSURANCE GROUP INC. SPON ADR	28,633	28,633
SHIONOGI & CO. LTD.	16,024	16,024
SIAM COMMERCIAL BANK UNSPONSORED ADR	7,970	7,970
SINOPEC/CHINA PETROLEUM & CHEMICALS ADR	17,034	17,034
SKY PLC ADR	32,452	32,452
ST JUDE MEDICAL INC.	27,797	27,797
SUMITOMO METAL MINING CO. LTD.	9,224	9,224
SVENSKA CL AKTIBLGT ADR	21,783	21,783
TATA MOTORS LTD. ADR	18,419	18,419
THERMO FISHER SCIENTIFIC	73,053	73,053
TOKYO GAS LTD ADR	16,645	16,645
UNILEVER NV	40,064	40,064
UNION PACIFIC CORP.	32,453	32,453
UNITED RENTALS INC.	22,125	22,125
WAL-MART STORES INC.	27,585	27,585
WHARF HOLDINGS ADR	21,306	21,306
WILMAR INTERNATIONAL ADR	26,630	26,630
YUM BRANDS INC.	24,107	24,107
ZIMMER BIOMET HOLDINGS INC.	49,756	49,756

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
INTEREST RECEIVABLE	13,502	8,872	8,872
DIVIDENDS RECEIVABLE	1,896	2,066	2,066
PURCHASED INTEREST	1,952
PREPAID EXPENSES	1,780	3,750	3,750

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
MEMBERSHIP DUES	9,267	0	9,267
INSURANCE	1,514	379	1,135
WEBSITE COSTS	240	0	240
SECURITIES BANK CHARGES	107	107	0
OFFICE SUPPLIES & EXPENSES	2,706	1,353	1,353
SOFTWARE COSTS - GRANT MANAGEMENT SYSTEM	3,750	0	3,750

Description	Beginning of Year - Book Value	End of Year - Book Value
DUE TO BROKER	0	7,962
FEDERAL EXCISE TAX PAYABLE	4,272	4,078
INVESTMENT ADVISORY FEES PAYABLE	4,419	3,966
MISCELLANEOUS EXPENSES PAYABLE	3,329	0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES	48,790	48,790		0
PHILANTHROPY ADVISORS LLC MANAGEMENT FEES	150,000	0		150,000

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FEDERAL EXCISE TAX	14,144	0	0
NEW YORK STATE FILING FEE	750	0	750
FOREIGN TAX WITHHELD ON DIVIDENDS	2,529	2,529	0