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
INAVALE FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)C/O KLR 99 SUMMER STREET NO 520
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BOSTON, MA02110
A Employer identification number

04-3409789
B Telephone number (see instructions)

(617) 236-8098
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$16,628,433J 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) 140
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 224,436 224,436  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -2,104
b Gross sales price for all assets on line 6a 5,045,460
7 Capital gain net income (from Part IV, line 2)... 0
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 20,481 20,481  
12 Total. Add lines 1 through 11........ 242,953 244,917  
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).........        
b Accounting fees (attach schedule)....... Click to see attachment 9,810 4,905   4,905
c Other professional fees (attach schedule).... Click to see attachment 52,991 52,991   0
17 Interest............... 179 179   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 30,765 2,081   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 39,096 38,854   148
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 132,841 99,010   5,053
25 Contributions, gifts, grants paid....... 992,725 992,725
26 Total expenses and disbursements. Add lines 24 and 25 1,125,566 99,010   997,778
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -882,613
b Net investment income (if negative, enter -0-) 145,907
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............. 237,012 141,768 141,768
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,900,187 Click to see attachment8,381,242 11,929,802
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).......... 3,732,266 Click to see attachment4,463,842 4,556,863
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,869,465 12,986,852 16,628,433
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..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 14,243,755 14,243,755
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds -374,290 -1,256,903
30 Total net assets or fund balances (see instructions)..... 13,869,465 12,986,852
31 Total liabilities and net assets/fund balances (see instructions). 13,869,465 12,986,852
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
13,869,465
2
Enter amount from Part I, line 27a .....................
2
-882,613
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
12,986,852
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
12,986,852
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 1050 SHS SECTOR SPDR P   2015-12-31
b 16787.659 SHS DOUBLELINE TOTAL P   2015-12-31
c 1135.503 SHS LOOMIS SAYLES CORE PLUS P   2015-12-31
d 32863.377 SHS THE OSTERWEIS STRATEGIC INC FD P   2015-12-31
e 6892.751 SHS PRIMECAP ODYSSEY P   2015-12-31
6848.505 SHS WASATCH INTERNATIONAL GROWTH P   2015-12-31
19994 SHS ISHARES MSCI P   2015-12-31
2498 SHS SPDR GOLD P   2015-12-31
2742.23 SHS DOUBLELINE TOTAL P   2015-12-31
37698.413 SHS LOOMIS SAYLES CORE PLUS P   2015-12-31
53034.796 SHS TEMPLETON GLOBAL BOND ADVISOR P   2015-12-31
17663.085 SHS TWEEDY BROWN GL VAL P   2015-12-31
10963.027 SHS AKRE FOCUS FUND P   2015-12-31
4616.805 SHS DOUBLELINE TOTAL P   2015-12-31
2104.055 SHS GUGGENHEIM TOTAL RETURN BOND FD P   2015-12-31
1220.504 SHS LOOMIS SAYLES CORE PLUS P   2015-12-31
18828.452 SHS WCM FOCUSED INT'L GROWTH P   2015-12-31
462 SHS ISHARES CORE US P   2015-12-31
923 SHS ISHARES RUSSELL P   2015-12-31
SCS OPPORTUNITIES FUND (MARK TO MARKET) P   2015-12-31
SOUND POINT FLOATING RATE FUND (MARK TO MARKET) P   2015-12-31
MORGAN CREEK PARTNERS P   2015-12-31
MORGAN CREEK PARTNERS P   2015-12-31
RMK SELECT TIMBERLAND FUND P   2015-12-31
DAVIS FUND II P   2015-12-31
DAVIS FUND II P   2015-12-31
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 78,406   100,128 -21,722
b 184,970   184,838 132
c 14,970   15,284 -314
d 377,242   396,685 -19,443
e 242,871   210,254 32,617
189,841   199,018 -9,177
1,293,415   1,359,425 -66,010
287,714   300,696 -12,982
29,970   30,193 -223
474,970   507,439 -32,469
615,174   689,895 -74,721
230,120   271,676 -41,556
254,970   259,410 -4,440
49,970   50,833 -863
54,970   56,990 -2,020
14,970   16,429 -1,459
224,970   231,428 -6,458
50,012   50,335 -323
109,854   115,977 -6,123
10,393     10,393
8,588     8,588
162,829     162,829
    631 -631
48,858     48,858
23,785     23,785
2,080     2,080
9,548     9,548
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       -21,722
b       132
c       -314
d       -19,443
e       32,617
      -9,177
      -66,010
      -12,982
      -223
      -32,469
      -74,721
      -41,556
      -4,440
      -863
      -2,020
      -1,459
      -6,458
      -323
      -6,123
      10,393
      8,588
      162,829
      -631
      48,858
      23,785
      2,080
      9,548
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 -2,104
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 797,833 18,258,200 0.043697
2013 715,922 16,989,394 0.042139
2012 893,555 16,132,388 0.055389
2011 1,050,673 16,308,870 0.064423
2010 232,588 16,143,672 0.014407
2
Total of line 1, column (d) .....................
20.220055
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
0.044011
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
17,633,076
5
Multiply line 4 by line 3......................
5
776,049
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,459
7
Add lines 5 and 6........................
7
777,508
8
Enter qualifying distributions from Part XII, line 4.............
8
997,778
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 1,459
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 1,459
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 1,459
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 45,182
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 45,182
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 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 43,723
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet43,723 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)
    bulletMA
    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 ofbulletKAHN LITWIN RENZA CO Telephone no.bullet (617) 236-8098

    Located atbullet99 SUMMER STREET STE 520BOSTONMA ZIP+4bullet02110
    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
    WILLIAM N BUFFETT PRESIDENT/DIRECTOR
    1.00     		0 0 0
    21 STEVENS TERRACE
    ARLINGTON,MA02476
    SUSAN KENNEDY TREASURER/DIRECTOR
    0.25     		0 0 0
    21 STEVENS TERRACE
    ARLINGTON,MA02476
    THOMAS BUFFETT DIRECTOR
    0.25     		0 0 0
    5912 COVENTRY CIRCLE
    EAST LANSING,MI48823
    WENDY O BUFFETT DIRECTOR
    0.25     		0 0 0
    861 ARLINGTON AVE
    BERKELEY,CA94707
    NOAH E BUFFETT-KENNEDY DIRECTOR
    0.25     		0 0 0
    20 EAGLE STREET
    SAN FRANCISCO,CA94114
    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
    17,419,189
    b
    Average of monthly cash balances.......................
    1b
    482,411
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    17,901,600
    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
    17,901,600
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    268,524
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,633,076
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    881,654
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    881,654
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    1,459
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
    1,970
    c
    Add lines 2a and 2b............................
    2c
    3,429
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    878,225
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    878,225
    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
    878,225
    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
    997,778
    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
    997,778
    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
    1,459
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    996,319
    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 7 878,225
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 86,667
    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$ 997,778
    a Applied to 2014, but not more than line 2a 86,667
    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..... 878,225
    e Remaining amount distributed out of corpus 32,886
    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 32,886
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		32,886
    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.... 32,886
    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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ALZEIMHER'S ASSOCIATION
    480 PLEASANT STREET
    WATERTOWN,MA02472     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,000
    AMERICAN CIVIL LIBERTIES UNION
    211 CONGRESS ST 301
    BOSTON,MA02110     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,600
    AMERICAN SCHOOL OF CLASSICAL STUDIES
    6-8 CHARLTON STREET
    PRINCETON,NJ08540     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    AMERICANS RESPONSIBILE FOR SOLUTIONS PAC
    PO BOX 15642
    WASHINGTON,DC20003     		NONE NON-PUBLIC CHARITY CHARITABLE 5,000
    ASPIRE AFTER SCHOOL LEARNING
    PO BOX 41318
    ARLINGTON,VA22204     		NONE PUBLIC CHARITY GENERAL PURPOSE 15,000
    ATRIUS HEALTH FOUNDATION
    275 GROVE STREET SUITE 3300
    NEWTON,MA02466     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    AVON WALK FOR BREAST CANCER
    33 BROAD STREET SUITE 700
    BOSTON,MA02109     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    BLACK PINE CIRCLE SCHOOL
    2027 7TH STREET
    BERKELEY,CA94710     		NONE PUBLIC CHARITY GENERAL PURPOSE 19,000
    BMC STRIVE FOUNDATION
    801 MASSACHUSETTS AVE 1ST FLOOR
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL PURPOSE 20,000
    BOSTON CHILDREN'S MUSEUM
    308 CONGRESS STREET
    BOSTON,MA02210     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    BOSTON MEDICAL CENTER
    1 BOSTON MEDICAL PLACE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL PURPOSE 9,940
    CAREER COLLABORATIVE
    77 SUMMER ST
    BOSTON,MA02111     		NONE PUBLIC CHARITY GENERAL PURPOSE 45,000
    CARLETON COLLEGE
    ONE NORTH COLLEGE STREET
    NORTHFIELD,MN55057     		NONE PUBLIC CHARITY GENERAL PURPOSE 155,000
    CENTRAL HIGH SCHOOL FOUNDATION
    1823 HARNEY ST 203
    OMAHA,NE68102     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    CENTRAL PUBLIC MONTESSORI SCHOOL
    4406 OKEMOS RD
    OKEMOS,MI48864     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,500
    CHILD & FAMILY OPPORTUNITIES INC
    18 AVERY LANE
    ELLSWORTH,ME04605     		NONE PUBLIC CHARITY GENERAL PURPOSE 50,000
    COMMON CAUSE
    1133 19TH STREET NW 9TH FLOOR
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    CREATIVITY EXPLORED
    3245 16TH STREET
    SAN FRANCISCO,CA94103     		NONE PUBLIC CHARITY GENERAL PURPOSE 25,000
    DOCTORS WITHOUT BORDERS USA
    333 7TH AVE 2ND FLOOR
    NEW YORK,NY10001     		NONE PUBLIC CHARITY GENERAL PURPOSE 12,500
    ENVIRONMENTAL LEAGUE OF MASSACHUSETTS
    14 BEACON STREET SUITE 714
    BOSTON,MA02108     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    EPOCA
    5 PLEASANT STREET 3RD FLOOR
    WORCESTER,MA01609     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,000
    FERRIS BURTIS FOUNDATION
    800 NORTH MAIN STREET
    SHEFFIELD,MA01257     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    FONTANELLE FOREST
    1111 BELLEVUE BOULEVARD NORTH
    BELLEVUE,NE68005     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    FRED & PAMELA BUFFETT CANCER CENTER
    1010 LINCOLN MALL
    LINCOLN,NE68508     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    FRIENDS OF BOSTON'S HOMELESS
    PO BOX 220648
    BOSTON,MA02122     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,000
    FRIENDS OF THE SMITHSONIAN
    PO BOX 9016
    PITTSFIELD,MA01202     		NONE PUBLIC CHARITY GENERAL PURPOSE 500
    GIRLS INC OMAHA
    2811 NORTH 45TH STREET
    OMAHA,NE68104     		NONE PUBLIC CHARITY GENERAL PURPOSE 14,775
    GLAD
    30 WINTER STREET STE 800
    BOSTON,MA02108     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    GREATER BOSTON FOOD BANK
    70 SOUTH BAY AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    GRUB ST INC
    160 BOYLSTON STREET 4TH FLOOR
    BOSTON,MA02116     		NONE PUBLIC CHARITY GENERAL PURPOSE 75,000
    HOFFMAN BREAST CANCER
    330 MOUNT AUBURN STREET
    CAMBRIDGE,MA02138     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    HOPE CENTRAL
    85 SEAVERNS AVE
    JAMAICA PLAIN,MA02130     		NONE PUBLIC CHARITY GENERAL PURPOSE 16,000
    IRAQ VETERANS AGAINST WAR
    PO BOX 3565
    NEW YORK,NY10008     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    JOSE MATEO BALLET THEATER
    400 HARVARD ST
    CAMBRIDGE,MA02138     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    KEHILLA COMMUNITY SYNAGOGUE
    1300 GRAND AVENUE
    PIEDMONT,CA94610     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    LANSING SCHOOL DISTRICT - LEAF
    519 W KALAMAZOO ST
    LANSING,MI48933     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,500
    LEWTON ELEMENTARY SCHOOL
    2000 LEWTON PL
    LANSING,MI48911     		NONE PUBLIC CHARITY GENERAL PURPOSE 18,500
    LYON MARTIN HEALTH SERVICES
    1748 MARKET STREET
    SAN FRANCISCO,CA94102     		NONE PUBLIC CHARITY GENERAL PURPOSE 6,000
    MEDICINE FOR MALI
    4605 80TH PLACE
    URBANDALE,IA50322     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    MERCY CORPS
    PO BOX 2669 DEPT
    W PORTLAND,OR97208     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    METROPOLITAN OPERA
    LINCOLN CENTER
    NEW YORK,NY10023     		NONE PUBLIC CHARITY GENERAL PURPOSE 25,000
    MICHIGAN STATE UNIVERSITY
    220 TROWBRIDGE ROAD
    EAST LANSING,MI48824     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    MICHIGAN RADIO
    535 W WILLIAMS ST STE 110
    ANN ARBOR,MI48103     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    MUSICA SACRA
    P O BOX 381336
    CAMBRIDGE,MA02238     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,250
    NAMI
    3803 N FAIRFAX DR STE 100
    ARLINGTON,VA22203     		NONE PUBLIC CHARITY GENERAL PURPOSE 6,000
    NISGUA
    PO BOX 70494
    OAKLAND,CA94612     		NONE PUBLIC CHARITY GENERAL PURPOSE 35,000
    OKEMOS PUBLIC LIBRARY
    4321 OKEMOS ROAD
    OKEMOS,MI48864     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,000
    OLD CAMBRIDGE BAPTIST CHURCH
    1151 MASSACHUSETTS AVE
    CAMBRIDGE,MA02138     		NONE PUBLIC CHARITY GENERAL PURPOSE 61,000
    OMAHA THEATER
    1200 DOUGLAS STREET
    OMAHA,NE68102     		NONE PUBLIC CHARITY GENERAL PURPOSE 3,000
    PINE STREET INN
    444 HARRISON AVE
    BOSTON,MA02118     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    PROJECT COMPASSION
    11315 RANCHO BERNARDO ROAD SUITE
    146
    SAN DIEGO,CA92127     		NONE PUBLIC CHARITY GENERAL PURPOSE 60,000
    RAINFOREST CONNECTION
    77 VAN NESS AVE SUITE 101-1717
    SAN FRANCISCO,CA94102     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    REACH STUDIO ART CENTER
    1804 S WASHINGTON AVE
    LANSING,MI48910     		NONE PUBLIC CHARITY GENERAL PURPOSE 8,250
    RESPOND INC
    PO BOX 555
    SOMERVILLE,MA02143     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    RESTORATIVE JUSTICE
    PO BOX 17434
    WASHINGTON,DC20041     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,750
    SAN FRANCISCO ZEN CENTER
    300 PAGE STREET
    SAN FRANCISCO,CA94102     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    SOMERVILLE HOMELESS COALITION
    1 DAVIS SQUARE
    SOMERVILLE,MA02144     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    SPARE CHANGE NEWSPAPER
    1151 MASSACHUSETTS AVE
    CAMBRIDGE,MA02138     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    SPECIAL OLYMPICS
    1133 19TH STREET NW 12TH FLOOR
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,100
    STANFORD UNIVERSITY
    450 SERRA MALL
    STANFORD,CA94305     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,500
    TABLE GRACE CAFE
    1611 1/2 FARNAM ST
    OMAHA,NE68102     		NONE PUBLIC CHARITY GENERAL PURPOSE 15,000
    TELEOSIS FOUNDATION
    1521B FIFTH STREET
    BERKELEY,CA94710     		NONE PUBLIC CHARITY GENERAL PURPOSE 24,000
    THE CHILDREN'S ROOM
    1210 MASSACHUSETTS AVE
    BOSTON,MA02476     		NONE PUBLIC CHARITY GENERAL PURPOSE 4,000
    THE FARM SCHOOL
    488 MOORE HILL ROAD
    ATHOL,MA01331     		NONE PUBLIC CHARITY GENERAL PURPOSE 500
    TRINITY LUTHERAN CHURCH
    73 LANCASTER ST
    WORCESTER,MA01609     		NONE PUBLIC CHARITY GENERAL PURPOSE 30,000
    URBAN ADAMAH
    1050 PARKER ST
    BERKELEY,CA94710     		NONE PUBLIC CHARITY GENERAL PURPOSE 8,000
    USF SCHOOL OF LAW
    2130 FULTON ST
    SAN FRANCISCO,CA94117     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    VINFEN
    950 CAMBRIDGE STREET
    CAMBRIDGE,MA02141     		NONE PUBLIC CHARITY GENERAL PURPOSE 30,000
    WAND
    691 MASSACHUSETTS AVE
    ARLINGTON,MA02476     		NONE PUBLIC CHARITY GENERAL PURPOSE 4,000
    WELLSTONE ACTION
    2446 UNIVERSITY AVE W SUITE 170
    SAINT PAUL,MN55114     		NONE PUBLIC CHARITY GENERAL PURPOSE 4,000
    WGBH
    1 GUEST ST
    BOSTON,MA02135     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    WIKIMEDIA FOUNDATION INC
    PO BOX 98204
    WASHINGTON,DC20090     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    WILLA CATHER FOUNDATION
    413 NORTH WEBSTER
    RED CLOUD,NE68970     		NONE PUBLIC CHARITY GENERAL PURPOSE 6,560
    WOLDUMAR NATURE CENTER
    5739 OLD LANSING RD
    LANSING,MI48917     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000
    WORLD WILDLIFE FEDERATION SAVE THE TIGERS CAMPAIGN
    1250 24TH STREET NW
    WASHINGTON,DC20037     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    WOUNDED WARRIOR PROJECT
    4899 BELFORT RD SUITE 300
    JACKSONVILLE,FL32256     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    Total .................................bullet 3a 992,725
    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 ...........     		         
    4 Dividends and interest from securities.... 900099 617 14 223,819  
    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..... 900099 14,388 14 6,093  
    8
    Gain or (loss) from sales of assets other than inventory ............     		900099 1,449 18 -3,553  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 16,454 226,359 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13242,813
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    KLR 9,810 4,905   4,905

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Name of Stock End of Year Book Value End of Year Fair Market Value
    33 SHS BERKSHIRE HATHAWAY CL A 2,732,576 6,329,600
    ISHARES TR MSCI EAFE INDEX 0 0
    MUTUAL FUNDS 4,217,524 4,108,237
    ISHARES RUSSELL 3000 ETF 1,431,142 1,491,965

    TY 2015 InvestmentsOtherSchedule2
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CORPORATE STOCKS AT COST 2,236,995 2,069,787
    SPDR GOLD TR GOLD AT COST 0 0
    SECTOR SPDR TR AT COST 0 0
    MORGAN CREEK PARTNERS AT COST 459,682 714,578
    RMK SELECT TIMBERLAND INVESTMENT FUND AT COST 364,031 361,669
    CORBIN PINEHURST INSTITUTIONAL AT COST 0 0
    DAVIS INVESTMENT VENTURES FUND II-B, LP AT COST 153,763 161,458
    SCS OPPORTUNITIES FUND AT COST 729,932 729,932
    SOUND POINT SENIOR FLOATING RATE FUND, LP AT COST 519,439 519,439

    TY 2015 OtherExpensesSchedule
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PARTNERSHIP EXPENSES 38,854 38,854   0
    MA ANNUAL REPORT FEE 15 0   15
    MA PC FILING FEE 125 0   125
    PENALTIES/OTHER NON-DEDUCTIBLE EXP 94 0   0
    BANK/CHECK FEES 8 0   8


    TY 2015 OtherIncomeSchedule2
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP INCOME 6,093 6,093 6,093
    PARTNERSHIP INCOME 14,388 14,388 14,388


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 52,991 52,991   0


    TY 2015 TaxesSchedule
    Name:
    INAVALE FOUNDATION INC
    EIN:
    04-3409789
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID 273 273   0
    MA UBTI TAXES PAID 1,808 1,808   0
    FEDERAL TAXES PAID 28,684 0   0