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 04-01-2015 , and ending 03-31-2016

Name of foundation
THE HORACE SMITH FUND

Number and street (or P.O. box number if mail is not delivered to street address)1441 MAIN STREET
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
SPRINGFIELD, MA01103

A Employer identification number

04-2235130

B Telephone number (see instructions)

(413) 739-4222

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

$6,881,184J 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	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	50
2	Check Sch. B .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	153,487		153,487
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		105,777
b	Gross sales price for all assets on line 6a 2,530,819
7	Capital gain net income (from Part IV, line 2)...			105,777
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).......		5,656	278	5,656
12	Total. Add lines 1 through 11........	264,970		259,542	5,656
13	Compensation of officers, directors, trustees, etc.	68,319		3,416	3,416	61,487
14	Other employee salaries and wages......	16,742		837	837	15,068
15	Pension plans, employee benefits.......	27,156		1,358	1,358	24,440
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		12,500	6,250		6,250
c	Other professional fees (attach schedule)....		47,512	47,512
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		3,869	869
19	Depreciation (attach schedule) and depletion...		2,750		2,750
20	Occupancy..............	9,524			3,810	5,714
21	Travel, conferences, and meetings.......
22	Printing and publications..........	1,450				1,450
23	Other expenses (attach schedule).......		17,816		6,998	10,818
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	207,638		60,242	19,169	125,227
25	Contributions, gifts, grants paid.......	273,250				273,250
26	Total expenses and disbursements. Add lines 24 and 25	480,888		60,242	19,169	398,477
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-215,918
b	Net investment income (if negative, enter -0-)			199,300
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.............	16,675	26,231	26,231
	2	Savings and temporary cash investments.........	138,974	198,846	198,846
	3	Accounts receivable 6,881
		Less: allowance for doubtful accounts 2,000	6,296	4,881	4,881
	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..........	2,616	3,006	3,006
	10a	Investments—U.S. and state government obligations (attach schedule)	1,245,798	1,063,182	1,068,763
	b	Investments—corporate stock (attach schedule).......	4,270,307	4,355,182	4,860,453
	c	Investments—corporate bonds (attach schedule).......	818,771	651,828	655,918
	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 53,773
		Less: accumulated depreciation (attach schedule) 50,561	5,963	3,212	53,773
	15	Other assets (describe )	31,252	9,313	9,313
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	6,536,652	6,315,681	6,881,184
	17	Accounts payable and accrued expenses..........	883	1,187
	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 )
	23	Total liabilities (add lines 17 through 22).........	883	1,187
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................	6,535,769	6,314,494
	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........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	6,535,769	6,314,494
	31	Total liabilities and net assets/fund balances (see instructions).	6,536,652	6,315,681

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

6,535,769

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

-215,918

Other increases not included in line 2 (itemize) bullet

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

6,319,851

Decreases not included in line 2 (itemize) bullet

5,357

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

6,314,494

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
1 a	PUBLICALY TRADED SECURITIES	P
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,512,610	2,425,042	87,568
b
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			87,568
b
c
d
e

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	105,777
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	87,568

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	378,709	7,267,276	0.052112
2013	363,617	6,910,251	0.052620
2012	310,503	6,470,460	0.047988
2011	367,172	6,261,707	0.058638
2010	331,932	6,148,587	0.053985

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

20.265343

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 . . .

0.053069

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

6,949,059

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

368,780

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

1,993

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

370,773

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

398,477

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	1,993
	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
3	Add lines 1 and 2...........................	3	1,993
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	1,993
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	5,760
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	5,760
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	3,767
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax2,000	Refunded	11	1,767

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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

WWW.HORACESMITHFUND.ORG

The books are in care of bullet

THE HORACE SMITH FUND Telephone no. bullet

(413) 739-4222

Located at bullet

1441 MAIN STREETSPRINGFIELDMA ZIP+4 bullet

01103

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
PATRICIA A SANTANIELLO	ASST. TREASU 1.00	1,210	0
1441 MAIN STREET SPRINGFIELD,MA01103	ASST. TREASU 1.00	1,210	0
ANNE MAHONEY	VP FUND ADMN 37.50	40,000	9,109
1441 MAIN STREET SPRINGFIELD,MA01103	VP FUND ADMN 37.50	40,000	9,109
TERESA REGINA	TRUSTEE 1.00	0	0
1441 MAIN STTREET SPRINGFIELD,MA01103	TRUSTEE 1.00	0	0
MICHAEL E TUCKER	TRUSTEE 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	TRUSTEE 1.00	0	0
JAMES W BRODERICK JR	TREASURER 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	TREASURER 1.00	0	0
KATHLEEN BOURQUE	TRUSTEE 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	TRUSTEE 1.00	0	0
JEROME LINEHAN	TRUSTEE 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	TRUSTEE 1.00	0	0
WAYNE L WEBSTER	PRESIDENT 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	PRESIDENT 1.00	0	0
SAMALID HOGAN	TRUSTEE 1.00	0	0
1441 MAIN STREET SPRINGFIELD,MA01103	TRUSTEE 1.00	0	0
JOSEPHINE SARNELLI	CLERK/ EXEC 10.00	27,109	11,751
1441 MAIN STREET SPRINGFIELD,MA01103	CLERK/ EXEC 10.00	27,109	11,751

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...................

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	SCHOLARSHIPS AWARDED TO ELIGIBLE STUDENTS. FOR THE SCHOOL YEAR BEGINNING SEPTEMBER 2015, 90 SCHOLARSHIPS OF 2,500 EACH WERE AWARDED. SOME RECIPIENTS ONLY ATTENDED COLLEGE FOR ONE HALF OF THE YEAR, SO RECEIVED ONLY 1,250. SCHOLARSHIPS AWARDED - 241,250 OTHER DISBURSEMENTS FOR CHARITABLE PURPOSES - 107,738	107,738
2	FELLOWSHIPS AWARDED TO ELIGIBLE STUDENTS. FOR THE SCHOOL YEAR BEGINNING SEPTEMBER 2015, 8 FELLOWSHIPS OF 4,000 EACH WERE AWARDED. EIGHT RECIPIENTS ATTENDED COLLEGE FOR THE WHOLE YEAR. FELLOWSHIPS AWARDED - 32,000 OTHER DISBURSEMENTS FOR CHARITABLE PURPOSES - 17,489	17,489
3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	N/A
2


All other program-related investments. See instructions.
3

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

Form 990-PF (2015)

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...................

6,842,004

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

188,008

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

24,870

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

7,054,882

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.........................

7,054,882

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

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

105,823

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

6,949,059

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

347,453

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....................

347,453

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

1,993

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

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

1,993

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

345,460

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

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

345,460

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

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

345,460

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 ..........

398,477

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

398,477

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

1,993

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

396,484

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	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7			345,460
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2015:
a From 2010......	29,741
b From 2011......	58,935
c From 2012......
d From 2013......	44,133
e From 2014......	21,090
fTotal of lines 3a through e........		153,899
4Qualifying distributions for 2015 from Part
XII, line 4: $ 398,477
a Applied to 2014, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2015 distributable amount.....			345,460
e Remaining amount distributed out of corpus		53,017
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		206,916
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 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...		29,741
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		177,175
10 Analysis of line 9:
a Excess from 2011....	58,935
b Excess from 2012....
c Excess from 2013....	44,133
d Excess from 2014....	21,090
e Excess from 2015....	53,017

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).)

NONE

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.

NONE

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:

THE HORACE SMITH FUND
1441 MAIN STREET SUITE 620
SPRINGFIELD,MA01103
(413) 739-4222

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

THERE ARE THREE ASSISTANCE PROGRAMS OFFERED THROUGH THE HORACE SMITH FUND. DETAILED INFORMATION IS AVAILABLE ONLINE AT WWW.HORACESMITHFUND.ORG. STUDENTS MAY APPLY FOR THE WALTER S BARR SCHOLARSHIP AVAILABLE TO HIGH SCHOOL SENIORS WHO WILL BE ENTERING COLLEGE FOR THE FIRST TIME. COLLEGE STUDENTS CONTINUING THEIR STUDIES IN COLLEGE MAY APPLY FOR THE WALTER S BARR COLLEGE SCHOLARSHIP. STUDENTS CONTINIUNG THEIR EDUCATION IN GRADUATE SCHOOL MAY APPLY FOR THE WALTER S BARR FELLOWSHIP. EACH APPLICATION MAY BE MADE ONLINE AT THE FUND'S WEBSITE OR SUBMITTED IN WRITING. EACH APPLICATION MUST BE ACCOMPANIED BY THREE REFERENCES FROM UNRELATED INDIVIDUALS, A FINANCIAL STATEMENT OR A FEDERAL STUDENT AID APPLICATION. OTHER REQUIREMENTS ARE SPELLED OUT ON THE WEBSITE.

cAny submission deadlines:

APPLICATION DEADLINES ARE DECEMBER 20TH FOR SCHOLARSHIPS AND FEBRUARY 1ST FOR THE FELLOWSHIP.

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

BARR SCHOLARSHIPS ARE AVAILABLE TO STUDENTS LIVING IN HAMPDEN COUNTY, MASSACHUSETTS SEEKING A COLLEGE EDUCATION. APPLICANTS MUST BE GRADUATES OF HAMPDEN COUNTY, MASSACHUSETTS SECONDARY SCHOOLS. FELLOWSHIP APPLICANTS MUST BE RESIDENTS OF HAMPDEN COUNTY OR QUALIFIED FORMER RESIDENTS. IT IS THE POLICY OF THE FUND TO PROVIDE SUPPLEMENTARY AID WHERE OTHER RESOURCES AVAILABLE TO THE PROSPECTIVE STUDENT ARE NOT ADEQUATE TO CARRY OUT THE PLANNED EDUCATIONAL PROGRAM.

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
SCHOLARSHIP RECIPIENTS 1441 MAIN STREET SPRINGFIELD,MA01103	NONE	INDIVIDUAL	SCHOLARSHIPS	241,250
FELLOWSHIP RECIPIENTS 1441 MAIN STREET SPRINGFIELD,MA01103	NONE	INDIVIDUAL	FELLOWSHIPS	32,000
Total ................................. 3a				273,250

bApproved for future payment

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

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 ...........
4 Dividends and interest from securities....			14	153,487
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 ............			14	105,777
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aSTUDENT LOANS INTEREST					278
bCOLLECTIONS RECEIVED ON
cSTUDENT LOANS					5,357
dMISCELLANEOUS INCOME					21
e
12 Subtotal. Add columns (b), (d), and (e)..				259,264	5,656

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

13264,920

(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.)
11B	INCOME ALLOWED FUND TO INCREASE SCHOLARSHIPS AWARDED
11B	INTEREST INCOME REINVESTED TO INCREASE SCHOLARSHIPS
11B	PAYMENTS RECEIVED ALLOWS FUND TO AWARD MORE SCHOLARSHIPS
11B	INCREASED AMOUNTS AVAILABLE FOR SCHOLARSHIPS

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

- TIN:

TY 2015 AccountingFeesSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
PROFESSIONAL SERVICES	12,500	6,250		6,250

- TIN:

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

TY 2015 DepreciationSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
COMPUTER-8 PORT ETHERNET HUB	1997-12-15	150	150	S/L	5.0000
TELEPHONE	1998-08-11	300	300	S/L	7.0000
PLAIN PAPER FAX	1998-07-09	230	230	S/L	5.0000
LOAN PROCESSING SOFTWARE	1999-01-31	28,026	28,026	S/L	3.0000
FIREPROOF FILE CABINET	2005-05-04	670	670	S/L	5.0000
FIREPROOF FILE CABINET	2005-12-30	480	480	S/L	5.0000
XEROX PRINTER	2007-05-21	609	609	S/L	5.0000
SERVER	2010-11-03	3,325	2,993	S/L	5.0000	332	332
SMART UPS	2010-12-08	872	785	S/L	5.0000	87	87
2 COMPUTERS	2011-09-26	1,499	1,049	S/L	5.0000	300	300
LAPTOP	2011-09-26	5,037	3,526	S/L	5.0000	1,008	1,008
COMPUTERS	2006-04-21	2,708	2,708	S/L	5.0000
WEB SITE DESIGN	2011-10-01	4,750	4,750		3.0000
KONICA	2014-03-13	5,117	1,535	S/L	5.0000	1,023	1,023

- TIN:

TY 2015 InvestmentsCorpBondsSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ANHEUSER-BUSCH, 1.375%, 07/15/2017
BANK OF NOVA SCOTIA, 2.38%, 12/17/13
BERKSHIRE HATHAWAY, 5.40%, 05/15/18
CATERPILLAR FINL SE 2.05% 08/01/2016
CISCO SYSTEMS INC, 4.95%, 02/15/19	27,484	27,664
COCA COLA CO, 1.50%, 11/15/15
COMCAST CORP 2.85% 01/15/2023
GE CAPITAL CORP, 5.63%, 09/15/17	11,000	11,738
JPMORGAN CHASE & CO, 6.00%, 01/15/18	49,372	48,463
ONTARIO PROVINCE OF 1.65% 09/27/2019	44,371	45,106
PROVINCE OF QUEBEC, 2.75%, 08/25/21
TOYOTA MOTOR CREDIT 2.00% 09/15/2016
WACHOVIA CORP, 5.75%, 02/01/18	51,012	48,447
WAL-MART STORES 1.50% 10/25/2015	42,870	43,175
US BANCORP 1.95% 11/15/18	20,029	20,315
GE CAPITAL CORP 3.45% 05/15/2024
TDAM 5-10 YR CORP BOND PORTFOLIO	203,726	207,786
TDAM 1-5 CORP BOND PORTFOLIO	201,964	203,224

- TIN:

TY 2015 InvestmentsCorpStockSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABS	45,800	65,673
ABBVIE, INC.	69,947	81,682
ADVANCE AUTO PARTS INC	67,230	72,153
AGILENT TECHNOLOGIES, INC.
ALLERGAN PLC	110,336	99,171
ALPHABET INC CL-C	68,891	89,394
AMERICAN EXPRESS CO
AMERICAN INTERNATIONAL GROUP	92,771	97,831
AMERIPRISE FINANCIAL, INC.	87,798	72,388
AMERISOURCEBERGEN CORP
ANADARKO PETROLEUM CORP	82,342	46,104
APPLE COMPUTER, INC.	116,501	174,384
APPLIED MATERIALS, INC.	51,648	63,964
BLACKROCK, INC.	87,870	98,765
BOEING COMPANY	93,851	110,438
CALIFORNIA RESOURCES CORPORATION	149	100
CAMERON INTERNATIONAL CORPORATION
CENTURYLINK, INC.	38,287	39,950
CHECK POINT SOFTWARE TECH LTD	47,415	65,603
CHUBB LTD	36,437	39,320
CITIZENS FINANCIAL GROUP	59,248	49,861
CIT GROUP, INC.
CITIGROUP, INC.
CITRIX SYSTEMS, INC.
CME GROUP, INC.	71,407	85,485
COLGATE PALMOLIVE CO
COMCAST CORP NEW CL A	66,370	69,631
CVS CAREMARK CORPORATION
DANAHER CORP SHS BEN INT	58,506	105,295
DEVON ENERGY CORPORATION	47,786	21,952
DICKS SPORTING GOODS INC COM	40,981	48,153
E.I. DUPONT DE NEMOURS AND CO	52,210	58,254
ECOLAB INC	6,682	15,613
EPOCH US SMALL MID CAP EQUITY FUND	338,549	308,959
EVERSOURCE ENERGY	49,400	67,091
EXXON MOBIL CORP
FIDELITY NATIONAL FINANCIAL GROUP	38,971	34,917
FIDELITY NATIONAL INFORMATION SERVIC	61,941	77,238
FIRST DATA CORP	61,276	55,771
FS NETWORKS INC COM	61,156	63,510
GENERAL ELECTRIC CO	82,560	108,086
GENUINE PARTS COMPANY	36,676	43,718
GILEAD SCIENCES INC	109,899	91,860
HARBOR INTL FD INST CL FUND 11	250,000	259,200
HOME DEPOT INC	41,579	69,384
IBM CORP
INGERSOLL-RAND PLC	68,882	76,272
INVESCO INTL GROWTH FD INST	250,000	298,398
KIMBERLY CLARK CORP	62,330	65,910
KOHL'S CORP
LAS VEGAS SANDS CORP
MARSH & MCLENNAN COMPANIES, INC.	33,544	44,377
MCDONALD'S CORP.
MCKESSON CORP	119,224	94,350
METLIFE, INC.
MICROSOFT CORP	77,537	157,958
MORGAN STANLEY
NIELSON HOLDINGS PLC EUR	42,724	48,974
NORFOLK SOUTHERN CORP	20,759	20,813
NORTHERN TRUST CORPORATION
OCCIDENTAL PETROLEUM CORP	93,020	74,589
ORACLE CORP	76,535	102,275
PEPSICO, INC.	81,678	96,331
PRAXAIR, INC.
PPL CORP	40,905	46,065
PVH CORP COM	50,561	46,558
ROCKWELL COLLINS, INC.	67,393	80,223
SEAGATE TECHNOLOGY PLC	58,952	40,996
SMUCKER J M CO	39,895	42,847
SYNCHRONY FINANCIAL	59,779	54,741
SYNCHRONY FINANCIAL
TDAM US SMALL-MID CAP EQUITY
TEXAS INSTRUMENTS, INC.	30,116	40,768
TIME WARNER	73,602	83,433
TJX COMPANIES INC	62,654	94,804
UNITED TECHNOLOGIES
UNITEDHEALTH GROUP, INC.	70,346	123,744
US BANKCORP DEL	39,091	38,966
VISA, INC.	84,733	115,485
VOYA FINANCIAL INC	63,227	40,785
WEC ENERGY GROUP INC	55,225	79,893
WISCONSIN ENERGY CORP

- TIN:

TY 2015 InvestmentsGovtObligationsSch

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

US Government Securities - End of Year Book Value:

1,063,182

US Government Securities - End of Year Fair Market Value:

1,068,763

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

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

- TIN:

TY 2015 LandEtcSchedule2

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND BUILDINGS AND EQUIMENT	53,773	50,561	3,212	53,773

- TIN:

TY 2015 OtherAssetsSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED INTEREST - INVESTMENTS	11,749	7,345	7,345
REFUNDABLE EXCISE TAX	19,503	1,968	1,968

- TIN:

TY 2015 OtherDecreasesSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Description	Amount
PRINCIPAL PAYMENTS RECEIVED	1
ON STUDENT LOAN ACCOUNTS	5,356

- TIN:

TY 2015 OtherExpensesSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Description	Revenue and Expenses per Books	Adjusted Net Income	Disbursements for Charitable Purposes
EXPENSES
COMPUTER EXPENSES	4,771	1,908	2,863
DUES	355		355
INSURANCE	3,024	1,210	1,814
MEALS AND ENTERTAINMENT	539		539
MISCELLANEOUS	4,702	1,881	2,821
OFFICE EXPENSE	949	380	569
PARKING	806	806
POSTAGE	637		637
TELEPHONE	2,033	813	1,220

- TIN:

TY 2015 OtherIncomeSchedule2

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
STUDENT LOANS INTEREST	278	278	278
STUDENT LOANS	5,357		5,357
MISCELLANEOUS INCOME	21		21

- TIN:

TY 2015 OtherProfessionalFeesSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
AGENT FEES - BANKNORTH	47,512	47,512

- TIN:

TY 2015 TaxesSchedule

Name:

THE HORACE SMITH FUND

EIN:

04-2235130

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL EXCISE TAXES	3,000
FOREIGN EXCISE TAXES	869	869