Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
RICHARD AND MARY L GRAY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)875 N MICHIGAN AVE NO 3800
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL606111802
A Employer identification number

36-3485580
B Telephone number (see instructions)

(312) 642-8877
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$14,973,358J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 5 5  
4 Dividends and interest from securities... 344,186 335,095  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,004,918
b Gross sales price for all assets on line 6a 5,538,225
7 Capital gain net income (from Part IV, line 2)... 991,662
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 19,714 67,225  
12 Total. Add lines 1 through 11........ 1,368,823 1,393,987  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 33 33   0
b Accounting fees (attach schedule)....... Click to see attachment 20,405 20,405   0
c Other professional fees (attach schedule).... Click to see attachment 84,501 84,501   0
17 Interest............... 11,175 10,179   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 45,475 4,964   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 22,323 19,355   30
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 183,912 139,437   30
25 Contributions, gifts, grants paid....... 577,755 577,755
26 Total expenses and disbursements. Add lines 24 and 25 761,667 139,437   577,785
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 607,156
b Net investment income (if negative, enter -0-) 1,254,550
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 868,464 512,036 512,036
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 2,466,038 Click to see attachment2,164,349 2,158,873
b Investments—corporate stock (attach schedule)....... 6,937,415 Click to see attachment8,179,061 9,577,433
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2,815,880 Click to see attachment2,730,807 Click to see attachment2,725,016
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,087,797 13,586,253 14,973,358
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 13,087,797 13,586,253
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 13,087,797 13,586,253
31 Total liabilities and net assets/fund balances (see instructions). 13,087,797 13,586,253
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
13,087,797
2
Enter amount from Part I, line 27a .....................
2
607,156
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
13,694,953
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
108,700
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
13,586,253
Form 990-PF (2015)
Form 990-PF (2015)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 1,000 SHS MEDTRONIC P 2013-03-21 2015-01-27
b 5,550 SHS MEDTRONIC P 2013-02-21 2015-01-27
c 100 SHS AFLAC P 2014-03-04 2015-09-04
d 1,400 SHS AFLAC P 2014-03-04 2015-09-04
e 3,000 SHS AFLAC P 2014-03-03 2015-09-04
1,900 SHS AFLAC P 2014-07-31 2015-09-04
3,600 SHS FRANKLIN RESOURCES P 2009-02-23 2015-09-11
4,800 SHS FRANKLIN RESOURCES P 2009-03-11 2015-09-11
16,000 SHS CALPINE P 2010-08-19 2015-09-04
2,100 SHS FAMILY DOLLAR STORES P 2013-03-18 2015-01-26
1,900 SHS FAMILY DOLLAR STORES P 2013-03-18 2015-01-26
500 SHS FAMILY DOLLAR STORES P 2013-03-18 2015-01-26
1,400 SHS GLENCORE ADR P 2015-01-08 2015-12-10
700 SHS GLENCORE ADR P 2015-01-08 2015-12-11
1,900 SHS GLENCORE ADR P 2015-01-08 2015-12-14
8,700 SHS GLENCORE ADR P 2015-01-08 2015-12-15
7,700 SHS GLENCORE ADR P 2015-01-08 2015-12-16
5,000 SHS GLENCORE ADR P 2015-01-08 2015-12-17
800 SHS GLENCORE ADR P 2015-01-26 2015-12-17
7,000 SHS GLENCORE ADR P 2015-01-26 2015-12-18
3,500 SHS HOME DEPOT P 2007-10-30 2015-03-26
300 SHS STARWOOD HOTELS & RESORTS P 2011-08-11 2015-05-01
100 SHS STARWOOD HOTELS & RESORTS P 2011-08-11 2015-05-01
100 SHS STARWOOD HOTELS & RESORTS P 2008-07-02 2015-05-01
1,400 SHS STARWOOD HOTELS & RESORTS P 2008-07-02 2015-05-04
100 SHS STARWOOD HOTELS & RESORTS P 2008-07-02 2015-05-04
600 SHS MEDTRONIC P 2015-01-27 2015-01-28
500 SHS MEDTRONIC P 2015-01-27 2015-01-28
300 SHS MEDTRONIC P 2015-01-27 2015-01-28
5,100 SHS MEDTRONIC P 2015-01-27 2015-08-27
2,400 SHS NATIONAL OILWELL VARCO P 2013-02-06 2015-08-11
1,400 SHS NATIONAL OILWELL VARCO P 2008-12-05 2015-08-11
1,000 SHS NATIONAL OILWELL VARCO P 2008-12-05 2015-08-11
9,400 SHS ORACLE P 2013-09-05 2015-10-23
1,100 SHS PENN NATIONAL GAMING P 2010-12-21 2015-01-07
2,600 SHS PENN NATIONAL GAMING P 2010-12-21 2015-01-07
1,000 SHS PENN NATIONAL GAMING P 2010-12-21 2015-01-07
2,300 SHS PENN NATIONAL GAMING P 2011-01-04 2015-01-07
3,200 SHS VISA CL A P 2011-01-27 2015-12-10
350,000 AK MUNI BD P 2010-11-23 2015-08-01
300,000 MARICOPA SD28 UTGO BAB P 2010-07-01 2015-07-01
400,000 FEDL HOME LB BKS P 2013-03-22 2015-10-02
400,000 FNMA CD P 2013-02-26 2015-09-04
200,000 FNMA QC P 2013-02-06 2015-05-28
230.26 SHS BANK OF AMERICA LITIGATION P 2015-06-29 2015-06-29
RICHARD GRAY P'SHIP - SHORT TERM P    
RICHARD GRAY P'SHIP - LONG TERM P    
RICHARD GRAY P'SHIP - SHORT TERM (UBIT) P    
RICHARD GRAY P'SHIP - LONG TERM (UBIT) P    
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 76,950   45,938 31,012
b 423,225   246,552 176,673
c 5,656   6,525 -869
d 79,190   91,047 -11,857
e 169,692   191,900 -22,208
107,472   114,430 -6,958
140,436   56,483 83,953
187,247   70,720 116,527
245,806   198,743 47,063
160,429   123,451 36,978
145,703   111,694 34,009
38,317   29,393 8,924
3,693   12,347 -8,654
1,837   6,173 -4,336
4,599   16,756 -12,157
21,185   76,727 -55,542
18,802   67,907 -49,105
12,104   44,096 -31,992
1,937   5,881 -3,944
16,368   51,459 -35,091
394,819   110,023 284,796
25,881   13,231 12,650
8,596   4,410 4,186
8,619   3,766 4,853
121,042   52,720 68,322
8,617   3,766 4,851
44,803   46,170 -1,367
37,374   38,475 -1,101
22,239   23,085 -846
369,962   392,445 -22,483
96,922   143,202 -46,280
56,538   23,881 32,657
40,319   17,058 23,261
357,052   304,073 52,979
15,247   8,542 6,705
35,661   20,191 15,470
13,774   7,766 6,008
31,680   17,619 14,061
248,643   56,687 191,956
350,000   350,000 0
300,000   300,000 0
400,000   399,854 146
400,000   400,005 -5
200,000   199,923 77
230     230
    28,193 -28,193
28,973     28,973
56   56 0
13,200   13,200 0
47,330     47,330
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       31,012
b       176,673
c       -869
d       -11,857
e       -22,208
      -6,958
      83,953
      116,527
      47,063
      36,978
      34,009
      8,924
      -8,654
      -4,336
      -12,157
      -55,542
      -49,105
      -31,992
      -3,944
      -35,091
      284,796
      12,650
      4,186
      4,853
      68,322
      4,851
      -1,367
      -1,101
      -846
      -22,483
      -46,280
      32,657
      23,261
      52,979
      6,705
      15,470
      6,008
      14,061
      191,956
      0
      0
      146
      -5
      77
      230
      -28,193
      28,973
      0
      0
      47,330
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 991,662
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 513,207 15,907,864 0.032261
2013 855,388 14,626,266 0.058483
2012 793,941 13,523,094 0.058710
2011 709,485 13,319,118 0.053268
2010 643,579 12,717,516 0.050606
2
Total of line 1, column (d) .....................
20.253328
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .
3
0.050666
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
15,659,828
5
Multiply line 4 by line 3......................
5
793,421
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
12,546
7
Add lines 5 and 6........................
7
805,967
8
Enter qualifying distributions from Part XII, line 4.............
8
577,785
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 25,091
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 25,091
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 25,091
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 27,847
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 25,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 52,847
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 27,756
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet27,756 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletRICHARD GRAY Telephone no.bullet (312) 642-8877

    Located atbullet875 N MICHIGAN AVECHICAGOIL ZIP+4bullet606111802
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    RICHARD GRAY PRESIDENT
    1.00     		0 0 0
    875 N MICHIGAN AVENUE SUITE 3800
    CHICAGO,IL606111802
    MARY GRAY VICE-PRES.
    0.50     		0 0 0
    875 N MICHIGAN AVENUE SUITE 3800
    CHICAGO,IL606111802
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    12,536,276
    b
    Average of monthly cash balances.......................
    1b
    803,590
    c
    Fair market value of all other assets (see instructions)................
    1c
    2,558,437
    d
    Total (add lines 1a, b, and c).........................
    1d
    15,898,303
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    15,898,303
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    238,475
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    15,659,828
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    782,991
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    782,991
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    25,091
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    25,091
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    757,900
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    757,900
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    757,900
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    577,785
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    577,785
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    577,785
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 757,900
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 67,876
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 577,785
    a Applied to 2014, but not more than line 2a 67,876
    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..... 509,909
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2015. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		247,991
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    RICHARD GRAY
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    RICHARD GRAY
    875 NORTH MICHIGAN AVE STE 3800
    CHICAGO,IL60611
    (312) 642-8877
    bThe form in which applications should be submitted and information and materials they should include:
    THERE IS NO STANDARD APPLICATION. A LETTER REQUESTING A DONATION IS SUFFICIENT.
    cAny submission deadlines:
    THERE ARE NO SUBMISSION DEADLINES.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    ALL DONEE ORGANIZATIONS MUST BE QUALIFIED ORGANIZATIONS PURSUANT TO IRC SECTION 170(C).
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACCESS LIVING OF METRO CHICAGO
    115 W CHICAGO AVENUE
    CHICAGO,IL60654     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,800
    ACLU FOUNDATION
    125 BROAD STREET 18TH FLOOR
    NEW YORK,NY10004     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    AIC ARCHITECTURE AND DESIGN SOCIETY
    111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    AIC CLASSICAL ART SOCIETY
    111 S MICHIGAN AVE
    CHICAGO,IL60603     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    ALZHEIMER'S ASSOCIATION
    225 N MICHIGAN AVE FL 17
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    ALZHEIMER'S DRUG DISCOVERY FOUNDATION
    57 W 57TH STREET 904
    NEW YORK,NY10019     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    AMERICAN CANCER SOCIETY
    250 WILLIAMS STREET NW
    ATLANTA,GA30303     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    AMERICAN HEART ASSOCIATION
    208 S LASALLE ST STE 1500
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    AMERICAN JEWISH COMMITTEE
    126 HIGH ST
    BOSTON,MA02110     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    AMERICAN RED CROSS
    2025 E STREET NW
    WASHINGTON,DC20006     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    ARCHEWORKS
    625 N KINGSBURY ST
    CHICAGO,IL60654     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    ARTS ALLIANCE ILLINOIS
    70 E LAKE ST 420
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 350
    BENNINGTON COLLEGE
    1 COLLEGE DR
    BENNINGTON,VT05201     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    BPI CHICAGO
    25 E WASHINGTON ST STE 1515
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    BRYN MAWR COLLEGE
    101 N MERION AVE
    BRYN MAWR,PA19010     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 15,000
    CHICAGO ACADEMY FOR THE ARTS
    1010 W CHICAGO AVE
    CHICAGO,IL60642     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    CHICAGO ARCHITECTURE FOUNDATION
    224 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    CHICAGO ART DECO SOCIETY
    PO BOX 1116
    EVANSTON,IL60204     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    CHICAGO CHILDRENS CHOIR
    78 E WASHINGTON ST 5TH FLOOR
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    CHICAGO CHILDRENS MUSEUM
    700 E GRAND AVENUE
    CHICAGO,IL60611     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    CHICAGO COMMUNITY TRUST
    225 N MICHIGAN 2200
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    CHICAGO HIGH SCHOOL FOR THE ARTS
    2714 W AUGUSTA BLVD
    CHICAGO,IL60622     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    CHICAGO HISTORY MUSEUM
    1601 N CLARK ST
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    CHICAGO HUMANITIES FESTIVAL
    500 N DEARBORN STE 825
    CHICAGO,IL60654     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 50,000
    CHICAGO INSTITUTE FOR PSYCHOANALYSIS
    122 S MICHIGAN AVE 1300
    CHICAGO,IL60603     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    CHICAGO JEWISH HISTORICAL SOCIETY
    610 S MICHIGAN AVE
    CHICAGO,IL60605     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    CHICAGO LEADERSHIP PRAYER BREAKFAST
    1 N LASALLE ST 3900
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 200
    CHICAGO PUBLIC LIBRARY FOUNDATION
    20 N MICHIGAN AVE
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    CHICAGO PUBLIC MEDIA
    848 EAST GRAND AVE
    CHICAGO,IL60611     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    CHICAGO SHAKESPEARE THEATER
    800 E GRAND AVE
    CHICAGO,IL60611     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 7,500
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 89,000
    CHICAGO WOMEN'S HEALTH CENTER
    1025 W SUNNYSIDE AVE
    CHICAGO,IL60640     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    CHICAGO YOUTH CENTERS
    218 S WABASH AVE STE 600
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    COURT THEATRE
    5535 S ELLIS AVE
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,000
    DOCTORS WITHOUT BORDERS
    333 7TH AVENUE
    NEW YORK,NY10001     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    ERIKSON INSTITUTE
    451 N LASALLE ST
    CHICAGO,IL60654     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    EVANSTON ART CENTER
    1717 CENTRAL ST
    EVANSTON,IL60201     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    FACETS MULTIMEDIA
    1517 W FULLERTON
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    FAMILY FOCUS INC
    310 S PEORIA ST STE 301
    CHICAGO,IL60607     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,500
    FOUNDATION FIGHTING BLINDNESS
    7168 COLUMBIA GATEWAY DR STE 100
    COLUMBIA,MD21046     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    FRANCIS W PARKER SCHOOL
    330 W WEBSTER AVE
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    FRANK LLOYD WRIGHT BUILDING CONSERVANCY
    53 W JACKSON BLVD
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    FRANK LLOYD WRIGHT PRESERVATION TRUST
    209 S LASALLE ST
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 25,500
    FRIENDS OF FLORENCE
    4545 W STREET NW
    WASHINGTON,DC20007     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    FRIENDS OF HISTORIC SECOND CHURCH
    1936 S MICHIGAN AVE
    CHICAGO,IL60616     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    FRIENDS OF THE PARKS
    17 N STATE ST
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    GLESSNER HOUSE MUSEUM
    1800 S PRAIRE AVE
    CHICAGO,IL60616     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    GOODMAN THEATRE
    170 N DEARBORN ST
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 21,000
    HARRIS THEATRE FOR MUSIC & DANCE
    205 E RANDOLPH ST
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 7,500
    HISTORICAL ASSOCIATION OF SOUTH HAVEN
    355 HUBBARD ST
    SOUTH HAVEN CHARTER TO,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 300
    HUMAN RIGHTS WATCH
    440 N WELLS 200
    CHICAGO,IL60654     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    ILLINOIS HOLOCAUST MUSEUM AND EDUCATION CENTER
    9603 WOODS DR
    SKOKIE,IL60077     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    ILLINOIS HUMANITIES COUNCIL
    17 N STATE ST 1400
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    JEWISH COUNCIL ON URBAN AFFAIRS
    610 S MICHIGAN AVE
    CHICAGO,IL60605     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    JEWISH UNITED FUND
    30 S WELLS ST
    CHICAGO,IL60606     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,200
    JOFFREY BALLET OF CHICAGO
    10 E RANDOLPH ST
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 7,500
    LANDMARKS ILLINOIS
    30 N MICHIGAN AVENUE SUITE 2020
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    LEAGUE OF CHICAGO THEATRES FOUNDATION
    17 N WABASH 520
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    LIBERTY HYDE BAILEY MUSEUM
    903 S BAILEY AVE
    SOUTH HAVEN,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    LINCOLN PARK CONSERVANCY
    2391 N STOCKTON DR
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    LINCOLN PARK ZOO
    2001 N CLARK ST
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    LYRIC OPERA OF CHICAGO
    20 N WACKER DR
    CHICAGO,IL60606     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 20,000
    MASTER DRAWINGS ASSOCIATION
    225 MADISON AVE
    NEW YORK,NY10016     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,000
    MERIT SCHOOL OF MUSIC
    38 S PEORIA ST
    CHICAGO,IL60607     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,000
    METROPOLITAN OPERA GUILD
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    MICHIGAN MARITIME MUSEUM
    260 DYCKMAN AVE
    SOUTH HAVEN,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    MIKVA CHALLENGE FOUNDATION
    332 S MICHIGAN AVE 400
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 200
    MUSEUM OF CONTEMPORARY ART
    220 E CHICAGO AVE
    CHICAGO,IL60611     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 15,000
    MUSEUM OF MODERN ART
    11 W 53RD ST
    NEW YORK,NY10019     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 360
    MUSEUM OF SCIENCE AND INDUSTRY
    5700 S LAKE SHORE DR
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,000
    MUSIC OF THE BAROQUE
    111 N WABASH SUITE 810
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    NATIONAL TRUST FOR HISTORIC PRESERVATION
    2600 VIRGINIA AVE NW STE 1000
    WASHINGTON,DC20037     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 10,000
    NEW ISRAEL FUND
    PO BOX 1127
    HIGHLAND PARK,IL60035     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    NORTHWESTERN UNIVERSITY
    633 CLARK ST
    EVANSTON,IL60208     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    NPR FOUNDATIONNATIONAL PUBLIC RADIO DC
    1111 NORTH CAPITOL STREET NE
    WASHINGTON,DC20002     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    OPENLANDS PROJECT
    25 E WASHINGTON ST
    CHICAGO,IL60602     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    OUNCE OF PREVENTION FUND
    33 W MONROE STE 2400
    CHICAGO,IL60603     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    PEOPLE FOR THE AMERICAN WAY
    1101 15 ST NW 600
    WASHINGTON,DC20005     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    PLOUGHSHARES FUND
    1100 VERMONT AVENUE NW 300
    WASHINGTON,DC20005     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    REBUILD FOUNDATION
    6760 S STONY ISLAND AVE
    CHICAGO,IL60649     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    REHABILITATION INSTITUTE OF CHICAGO
    345 E SUPERIOR ST
    CHICAGO,IL60611     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 700
    ROGER BALDWIN FOUNDATION OF THE ACLU FOUNDATION
    180 N MICHIGAN AVE SUITE 2300
    CHICAGO,IL60601     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    SCHOOL OF THE ART INSTITUTE OF CHICAGO
    36 S WABASH AVE 1450
    CHICAGO,IL60603     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    SOCIETY OF ARCHITECTURAL HISTORIANS
    1365 N ASTOR ST
    CHICAGO,IL60610     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    SOUTH HAVEN CENTER FOR THE ARTS
    600 PHOENIX RD
    SOUTH HAVEN,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    SOUTH HAVEN COMMUNITY FOUNDATION
    228 BROADWAY ST
    SOUTH HAVEN,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    SOUTH HAVEN PERFOMANCE SERIES
    PO BOX 1
    SOUTH HAVEN,MI49090     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    SPERTUS INSTITUTE OF JEWISH STUDIES
    610 S MICHIGAN AVE
    CHICAGO,IL60605     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    STEPPENWOLF THEATRE COMPANY
    1650 N HALSTED ST
    CHICAGO,IL60614     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 15,000
    STORY CATCHERS THEATRE
    544 W OAK ST 1005
    CHICAGO,IL60610     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    STUDENT ADVOCACY CENTER OF MICHIGAN
    124 PEARL ST 504
    YPSILANTI,MI48197     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 400
    THE CHICAGO COUNCIL ON GLOBAL AFFAIRS
    332 S MICHIGAN AVE
    CHICAGO,IL60604     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,000
    THE CHINATI FOUNDATION
    1 CAVALRY ROW
    MARFA,TX79843     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    THE FIELD MUSEUM
    1400 S LAKE SHORE DR
    CHICAGO,IL60605     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 12,000
    THE FRICK COLLECTION
    1 E 70TH ST
    NEW YORK,NY10021     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    THE MORGAN LIBRARY & MUSEUM
    225 MADISON AVE
    NEW YORK,NY10016     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,000
    THE NEWBERRY LIBRARY (CONSORT)
    60 W WALTON ST
    CHICAGO,IL60610     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 55,500
    THE NIGHT MINISTRY
    4711 N RAVENSWOOD AVE
    CHICAGO,IL60640     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 300
    THE SOLTI FOUNDATION US
    1555 SHERMAN AVENUE STE 310
    EVANSTON,IL60201     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    U OF C CHICAGO PRESENTS
    5720 S WOODLAWN AVE
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,000
    U OF C LIBRARY SOCIETY
    1100 E 57TH ST
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    U OF C ORIENTAL INSTITUTE
    1155 E 58TH ST
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 3,500
    U OF C SMART MUSEUM OF ART
    5550 S GREENWOOD AVE
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 51,000
    U OF C WOMENS BOARD
    5235 SOUTH HARPER CT 7TH FLR
    CHICAGO,IL60615     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 1,200
    UNITED STATES HOLOCAUST MEMORIAL MUSEUM
    100 RAOUL WALLENBERG PL SW
    WASHINGTON,DC20024     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 150
    UNIVERSITY OF CHICAGO
    5801 S ELLIS AVE
    CHICAGO,IL60637     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 5,000
    UNIVERSITY OF CHICAGO SERVICE LEAGUE
    5000 S EAST END AVE D-14
    CHICAGO,IL60615     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 45
    UNIVERSITY OF ILLINOIS FOUNDATION
    1305 W GREEN ST
    URBANA,IL61801     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    URBAN GATEWAYS
    205 W RANDOLPH
    CHICAGO,IL60606     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 250
    WAUS 907 FM
    4160 ADMINISTRATION DR
    BERRIEN SPRINGS,MI49104     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 100
    WORKING IN THE SCHOOLS
    641 W LAKE ST 200
    CHICAGO,IL60661     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    WORLD MONUMENTS FUND
    350 5TH AVE 2412
    NEW YORK,NY10118     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 2,500
    WTTWWFMT
    5400 N ST LOUIS AVE
    CHICAGO,IL60625     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 50,000
    YOUNG CONCERT ARTISTS
    250 W 57TH STREET STE 1222
    NEW YORK,NY10107     		NONE 501(C)(3) PUBLIC CHA GENERAL UNRESTRICTED 500
    Total .................................bullet 3a 577,755
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    14 5  
    4 Dividends and interest from securities.... 900001 4,481 14 339,438 267
    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 ............     		900001 13,256 18 991,662  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue:
    aRICHARD GRAY FAMILY P'SHIP - ORD INCOME     		    14 1,972  
    bRICHARD GRAY FAMILY P'SHIP - RENTAL     14 -257  
    cRICHARD GRAY FAMILY P'SHIP - ROYALTIES     14 219  
    dRICHARD GRAY FAMILY P'SHIP - SEC 1231     14 -7,111  
    eRICHARD GRAY FAMILY P'SHIP - OTHER PORT INCOME     14 64,026  
    fRICHARD GRAY FAMILY P'SHIP - SEC 1256     14 2,869  
    gRICHARD GRAY FAMILY P'SHIP - OTHER INCOME     14 5,507  
    hRICHARD GRAY FAMILY P'SHIP - ORD INCOME (UBTI) 900001 -5,064      
    iRICHARD GRAY FAMILY P'SHIP - RENTAL (UBTI) 900001 -6,833      
    jRICHARD GRAY FAMILY P'SHIP - SEC 1231 (UBTI) 900001 19,144      
    kRICHARD GRAY FAMILY P'SHIP - OTHER INCOME (UBTI) 900001 -55,172      
    lRICHARD GRAY FAMILY P'SHIP - OTHER TAX EXEMPT         414
    12 Subtotal. Add columns (b), (d), and (e).. -30,188 1,398,330 681
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,368,823
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    4 RICHARD GRAY FAMILY PARTNERSHIP - TAX EXEMPT INTEREST $267
    11 RICHARD GRAY FAMILY PARTNERSHIP - OTHER AND RENTAL INCOME/(LOSS).
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RICHARD GRAY FAMILY P'SHIP - ACCTG FEES 20,405 20,405   0

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Name of Stock End of Year Book Value End of Year Fair Market Value
    7,000 PENN NATIONAL GAMING 0 0
    2,500 SHS ILLINOIS TOOL WORKS 84,279 231,700
    3,500 SHS HOME DEPOT 0 0
    2,000 SHS STARWOOD HOTELS&RESORT CO 0 0
    4,800 SHS NATIONAL OILWELL INC 0 0
    4,800 VISA CL A 85,030 372,240
    31,000 SHS APPLIED MATERIALS 435,262 578,770
    8,400 SHS FRANKLIN RESOURCES 0 0
    4,900 SHS TIFFANY & CO NEW COM 286,740 373,821
    16,000 SHS INTEL CORP 323,127 551,200
    16,000 SHS CALPINE 0 0
    11,000 WELLS FARGO 303,295 597,960
    11,000 SHS JPMORGAN CHASE 372,860 726,330
    9,000 SHS UNILEVER ADR 263,351 388,080
    9,200 SHS AMERICAN INTL GROUP 323,832 570,124
    2,000 SHS HOWARD HUGHES 124,555 226,320
    4,500 SHS FAMILIY DOLLAR STORES 0 0
    12,000 SHS GAMING AND LEISURE PROPER 350,118 333,600
    9,500 SHS GENERAL MOTORS 262,648 323,095
    6,500 SHS MEDTRONIC 0 0
    9,400 SHS ORACLE 0 0
    6,400 SHS AFLAC 0 0
    85,144.477 SHS OAKMARK INTERNATIONAL 2,231,976 1,818,686
    7,300 SHS ANADARKO 501,630 354,634
    1,700 SHS BLACKROCK 512,847 578,884
    6,300 SHS CATERPILLAR 439,403 428,148
    1,500 SHS CHARTER COMMUNICATIONS 279,497 274,650
    12,500 SHS GENERAL ELECTRIC 310,664 389,375
    13,600 SHS TRIBUNE MEDIA 687,947 459,816

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    US Government Securities - End of Year Book Value:

    2,164,349
    US Government Securities - End of Year Fair Market Value:

    2,158,873
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2015 LegalFeesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RICHARD GRAY FAMILY P'SHIP - LEGAL FEES 33 33   0


    TY 2015 OtherAssetsSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DIVIDENDS RECEIVABLE 9,339 6,210 6,210
    R. GRAY FAMILY PARTNERSHIP INVESTMENT 2,599,409 2,517,465 2,517,465
    CERTIFICATE OF DEPOSIT 207,132 207,132 201,341


    TY 2015 OtherDecreasesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Description Amount
    OTHER TIMING DIFFERENCES 108,700


    TY 2015 OtherExpensesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RICHARD GRAY FAMILY P'SHIP - DEDUCTIONS 21,685 19,355   0
    RICHARD GRAY FAMILY P'SHIP - NONDEDUCTIBLE EXPENSES 39 0   0
    RICHARD GRAY FAMILY P'SHIP - CONTRIBUTIONS 5 0   5
    OTHER PROFESSIONAL FEES 375 0   0
    ILLINOIS FILING FEES 25 0   25
    LEGAL FEES 194 0   0


    TY 2015 OtherIncomeSchedule2
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    RICHARD GRAY FAMILY P'SHIP - ORD INCOME 1,972 1,972 1,972
    RICHARD GRAY FAMILY P'SHIP - RENTAL -257 -257 -257
    RICHARD GRAY FAMILY P'SHIP - ROYALTIES 219 219 219
    RICHARD GRAY FAMILY P'SHIP - SEC 1231 -7,111 -7,111 -7,111
    RICHARD GRAY FAMILY P'SHIP - OTHER PORT INCOME 64,026 64,026 64,026
    RICHARD GRAY FAMILY P'SHIP - SEC 1256 2,869 2,869 2,869
    RICHARD GRAY FAMILY P'SHIP - OTHER INCOME 5,507 5,507 5,507
    RICHARD GRAY FAMILY P'SHIP - ORD INCOME (UBTI) -5,064   -5,064
    RICHARD GRAY FAMILY P'SHIP - RENTAL (UBTI) -6,833   -6,833
    RICHARD GRAY FAMILY P'SHIP - SEC 1231 (UBTI) 19,144   19,144
    RICHARD GRAY FAMILY P'SHIP - OTHER INCOME (UBTI) -55,172   -55,172
    RICHARD GRAY FAMILY P'SHIP - OTHER TAX EXEMPT 414   414


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    HARRIS ASSOCIATES (773-72348) 73,041 73,041   0
    RICHARD GRAY FAMILY P'SHIP - MGMT FEES 11,460 11,460   0


    TY 2015 TaxesSchedule
    Name:
    RICHARD AND MARY L GRAY FOUNDATION
    EIN:
    36-3485580
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    RICHARD GRAY FAMILY P'SHIP - FOREIGN TAXES 1,155 1,155   0
    HARRIS ASSOCIATES FOREIGN TAX 3,809 3,809   0
    FEDERAL TAX PAYMENTS 40,511 0   0