TY 2015 Form 990PF

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Form990-PF
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

Do not enter social security numbers on this form as it may be made public.
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Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2015

Open to Public Inspection

For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015

Name of foundation
THE JOE W & DOROTHY D BROWN FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)320 HAMMOND HWY
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
METAIRIE, LA70005

A Employer identification number

72-6027232

B Telephone number (see instructions)

(504) 834-3433

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$128,679,364J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	2,142,626		2,142,626
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		2,749,782
b	Gross sales price for all assets on line 6a 61,409,461
7	Capital gain net income (from Part IV, line 2)...			2,749,782
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).......		1,044,980	832,427	212,553
12	Total. Add lines 1 through 11........	5,937,388		5,724,835	212,553
13	Compensation of officers, directors, trustees, etc.	377,954		188,977		188,977
14	Other employee salaries and wages......	241,279		84,363		156,916
15	Pension plans, employee benefits.......	197,936		75,736		122,200
16a	Legal fees (attach schedule).........		32,527	32,527
b	Accounting fees (attach schedule).......		50,615	25,308		25,307
c	Other professional fees (attach schedule)....		304,430	284,855		19,575
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		243,345	11,126		17,219
19	Depreciation (attach schedule) and depletion...		216,872	25,613	139,587
20	Occupancy..............
21	Travel, conferences, and meetings.......	76,663		36,798		39,865
22	Printing and publications..........
23	Other expenses (attach schedule).......		358,979	59,102	99,343	200,534
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	2,100,600		824,405	238,930	770,593
25	Contributions, gifts, grants paid.......	3,173,658				3,173,658
26	Total expenses and disbursements. Add lines 24 and 25	5,274,258		824,405	238,930	3,944,251
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	663,130
b	Net investment income (if negative, enter -0-)			4,900,430
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2015)

Form 990-PF (2015)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	6,874,365	3,329,959	3,329,959
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 202,865
		Less: allowance for doubtful accounts	363,448	202,865	202,865
	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).......	45,149,264	48,415,479	54,884,223
	c	Investments—corporate bonds (attach schedule).......	2,888,119	6,228,536	5,708,485
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	36,994,562	32,290,431	35,343,369
	14	Land, buildings, and equipment: basis 12,242,948
		Less: accumulated depreciation (attach schedule) 2,911,772	9,548,048	9,331,176	9,331,176
	15	Other assets (describe )	17,205,535	19,879,287	19,879,287
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	119,023,341	119,677,733	128,679,364
	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 )	2,641	7,733
	23	Total liabilities (add lines 17 through 22).........	2,641	7,733
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	119,020,700	119,670,000
	30	Total net assets or fund balances (see instructions).....	119,020,700	119,670,000
	31	Total liabilities and net assets/fund balances (see instructions).	119,023,341	119,677,733

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............

119,020,700

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

663,130

Other increases not included in line 2 (itemize) bullet

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

119,683,830

Decreases not included in line 2 (itemize) bullet

13,830

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

119,670,000

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	LONG TERM CAPITAL GAIN DISTRIBUTIONS	P	2000-01-01	2015-12-31
b	CAPITAL GAINS FROM K-1	P	2000-01-01	2015-12-31
c	3% HOLDBACK LEVERAGED LOAN	P	2014-01-01	2015-04-01
d	54687.591 ABERDEEN ASIA-PAC	P	2014-01-01	2015-12-10
e	250 ACTAVIS PLC	P	2011-11-07	2015-04-09
	500 ADDUS HOMECARE CORP	P	2015-09-04	2015-12-10
	1910 ADT CORP	P	2015-02-05	2015-04-09
	14800 ADT CORP	P	2015-02-05	2015-09-10
	10078 ADVISORS DISCIPLINED TR ENHANCED EQTY INCM 1Q14	P	2014-07-31	2015-04-27
	11469 ADVISORS DISCIPLINED TR INFL INCM STRAT 2014-2 MO	P	2014-07-31	2015-04-27
	9598 ADVISORS DISCIPLINED TR TACTICAL INCOME 2014-2 MO	P	2014-07-31	2015-04-27
	690 AETNA INC	P	2015-02-05	2015-04-09
	10460 AFFYMETRIX INC	P	2015-07-02	2015-11-09
	381 ALAMO GROUP	P	2013-12-16	2015-03-12
	1700 ALBEMARLE CORPORATION	P	2014-11-07	2015-04-09
	2030 ALLIANCE DATA SYSTEMS	P	2015-02-05	2015-12-09
	810 ALLIANCE FIBER OPTIC PRODUCT	P	2015-05-07	2015-11-12
	720 ALLIANCE ONE INTL INC	P	2015-10-07	2015-12-10
	6000 ALLIANZGI NFJ DIV INT & PREM STRATEGY	P	2012-07-10	2015-04-27
	500 ALLIED MOTION TECHNOLOGIES INC	P	2015-06-10	2015-07-09
	9000 ALLSTATE CORP	P	2012-08-08	2015-07-09
	395 ALMOST FAMILY INC	P	2015-05-12	2015-07-09
	610 AMBARELLA INC	P	2013-11-07	2015-08-11
	1190 AMBARELLA INC	P	2013-11-07	2015-12-10
	1790 ANACOR PHARMACEUTICALS INC	P	2015-04-06	2015-07-16
	1170 ANIXTER INTL	P	2014-04-07	2015-04-09
	2945 ANWORTH MTG ASSET CORP	P	2015-05-12	2015-06-10
	20000 APOLLO ADUCATION GROUP INC	P	2014-10-09	2015-02-10
	600 APPLE INC	P	2013-09-16	2015-04-28
	12500 ARCHER DANIELS MIDLAND CO	P	2014-04-09	2015-05-11
	1270 ARRIS GROUP INC	P	2014-11-10	2015-04-28
	3430 ARRIS GROUP INC	P	2014-04-07	2015-04-28
	18000 ARRIS GROUP INC	P	2014-11-10	2015-08-11
	1785 ASTA FUNDING INC	P	2015-05-12	2015-07-09
	9240 AT&T INC	P	2013-08-12	2015-04-09
	100 AUTOZONE INC	P	2013-02-11	2015-04-28
	130 AUTOZONE INC	P	2013-02-11	2015-11-10
	715 AZURE MIDSTREAM PARTNERS LP	P	2015-06-10	2015-06-10
	1200 BALL CORP	P	2014-11-10	2015-04-09
	8800 BALL CORP	P	2014-11-10	2015-06-09
	1850 BANCFIRST CORP	P	2009-04-01	2015-06-08
	350 BARRETT BUSINESS SERVICES	P	2015-10-07	2015-11-16
	110 BASSETT FURNITURE INDS	P	2015-05-12	2015-07-09
	7710 BED BATH & BEYOND INC	P	2015-02-05	2015-05-11
	640 BEL FUSE INC	P	2015-06-05	2015-10-13
	16740 BEST BUY INC	P	2014-11-10	2015-12-09
	36511.168 BLACKROCK HIGH YILED	P	2014-10-23	2015-01-09
	26350.461 BLACKROCK HIGH YILED	P	2015-05-21	2015-11-03
	4821.601 BLACKROCK II FLOATING RATE	P	2014-11-13	2015-04-27
	2031 BOYD GAMING CORP	P	2013-10-02	2015-10-14
	1160 BRAVO BRIO RESTAURANT	P	2015-09-04	2015-12-10
	10680 BRINKER INTL	P	2014-10-09	2015-09-10
	895 BUILD A BEAR WORKSHOP INC	P	2015-05-12	2015-07-09
	1225 CALAMOS ASSET MGMT	P	2015-05-07	2015-08-11
	7100 CAPITAL ONE FINL CORP	P	2014-09-09	2015-09-10
	6640 CARISLE COMPANIES	P	2014-06-10	2015-02-10
	5800 CARTER'S INC	P	2015-06-04	2015-08-11
	525 CASH AMERICA INTL	P	2015-09-04	2015-11-12
	161 CENTENE CORP	P	2014-11-07	2015-01-26
	220 CEVA INC	P	2015-08-06	2015-12-10
	876 CHIPOTLE MEXICAN GRILL INC	P	2015-02-05	2015-05-11
	550 CITI TRENDS	P	2015-06-05	2015-12-10
	487 CITY HOLDING CO	P	2014-01-01	2015-03-12
	5650 CNO FINANCIAL GROUP INC	P	2012-08-30	2015-03-12
	12399.138 COLUMBIA INCOME BUILDER CL A	P	2012-10-31	2015-04-27
	10860 COMCAST CORP	P	2014-01-01	2015-04-09
	9550 COMCAST CORP	P	2015-07-06	2015-09-10
	1770 CONSTELLATIONS BRANDS INC	P	2013-12-10	2015-02-10
	1080 CONSTELLATIONS BRANDS INC	P	2013-12-10	2015-10-09
	695 CORE MOLDING TECHNOLOGIES INC	P	2015-05-07	2015-12-10
	510 COVENANT TRANSPORTATION GROUP CL A	P	2015-05-12	2015-07-09
	2635 COWEN GROUP INC	P	2015-08-06	2015-12-10
	525 CRA INTERNATIONAL INC	P	2015-05-12	2015-06-10
	3910 CRACKER BARREL OLD COUNTRY STORE, INC.	P	2015-06-10	2015-12-09
	575 CULP INC	P	2015-05-12	2015-06-10
	1840 CVS HEALTH CORP	P	2012-10-08	2015-03-10
	4958 DANA HOLDINGS CORP	P	2013-10-09	2015-06-08
	9590 DARDEN RESTAURANTS INC	P	2015-03-05	2015-06-09
	1100 DECKERS OUTDOOR CORP	P	2014-04-07	2015-06-08
	45638.087 DELAWARE EMERGING MARKETS	P	2014-01-01	2015-02-26
	12000 DEVRY EDUCATION GROUP	P	2014-07-10	2015-03-10
	9000 DISCOVER FINL SVCS	P	2012-02-21	2015-04-09
	6600 DISNEY WALT CO	P	2014-01-01	2015-01-12
	15467.626 DODGE & COX INCOME FUND	P	2015-01-01	2015-04-13
	2440 DOT HILL SYSTEMS CORP	P	2015-07-06	2015-08-24
	5710 DOVER CORP	P	2013-06-11	2015-01-12
	11090 DOW CHEM CO	P	2014-05-09	2015-01-12
	1350 DSP GROUP INC	P	2015-05-12	2015-06-10
	420 DTS, INC	P	2015-05-07	2015-09-08
	490 DUCOMMUN INC	P	2015-05-15	2015-06-10
	625 DUCOMMUN INC	P	2015-09-04	2015-12-10
	11420 DUNKIN BRANKDS GROUP INC	P	2015-06-04	2015-11-10
	3700 DYNEGY INC	P	2014-08-14	2015-03-12
	2300 EAST WEST BANCORP INC	P	2014-11-10	2015-04-28
	15000 EAST WEST BANCORP INC	P	2014-11-10	2015-10-09
	1410 ENPHASE ENERGY	P	2015-05-12	2015-06-10
	7620 ENSCO PLC	P	2023-09-10	2015-03-10
	1180 EQT MIDSTREAM PARTNERS LP	P	2014-11-07	2015-06-08
	2770 ESSENDANT INC	P	2013-01-17	2015-06-08
	860 EXPEDIA INC	P	2014-06-10	2015-04-09
	1660 EXPEDIA INC	P	2014-06-10	2015-10-09
	805 FABRINET	P	2015-05-07	2015-11-12
	1341 FEI COMPANY	P	2011-11-22	2015-03-12
	4840 FIRST ACCEPTANCE CORPORATION	P	2015-07-06	2015-08-11
	9323 FIRST TRUST ALT INCM SER 9 MO	P	2014-03-11	2015-04-27
	15151 FIRST TRUST INTEREST RATE HEDGE 89 MO	P	2014-03-11	2015-04-27
	15428 FIRST TRUST INTEREST RT HEDGE 69 MO	P	2014-03-11	2015-05-07
	5050 FIRST TRUST INTEREST RT HEDGE 75 MO	P	2014-03-11	2015-04-27
	10550 FIRST TRUST INVESTMENT GRADE SEL 43MO	P	2013-05-30	2015-03-19
	13432 FIRST TRUST MLP & ENERGY 32 MO	P	2014-03-11	2015-04-27
	10255 FIRST TRUST STRAT INCM PLUS 51 MO	P	2014-03-11	2015-04-27
	9607 FIRST TRUST STRATEGIC DIV PLUS 17 MO	P	2013-06-30	2015-04-27
	2300 FISERVE INC	P	2012-02-21	2015-12-09
	515 FLANIGAN'S ENTERPRISES INC	P	2015-05-07	2015-10-13
	2460 FOOT LOCKER INC	P	2015-01-07	2015-10-09
	595 FRANKLIN FINANCIAL SERVICES	P	2015-05-07	2015-11-12
	108074.981 FRANKLIN INCOME CL A	P	2003-04-21	2015-04-27
	1170 FUTUREFUEL CORP	P	2015-07-06	2015-08-11
	13770 GAMESTOP	P	2014-07-10	2015-12-09
	975 GENERAL COMMUNICATION INC	P	2015-05-07	2015-08-10
	6167 GENERAL MOTORS WARRANTS	P	2004-06-14	2015-07-02
	37780 GENTEX CORP	P	2013-10-08	2015-02-10
	GLOBAL ACCESS	P	2015-01-26	2015-01-26
	940 GLOBAL PAYMENTS INC	P	2014-04-07	2015-12-10
	2000 GOLDMAN SACHS GROUP INC 6.125%	P	2014-11-01	2015-11-02
	465 GP STRATEGIES CORP	P	2015-05-12	2015-06-10
	2520 GREAT PLAINS INC	P	2014-06-06	2015-03-12
	1015 GUARANTY FEDERAL BNCSHS INC	P	2015-05-12	2015-06-10
	9809 GUGGENHEIM CONV & INCM 19 MO	P	2014-06-17	2015-04-27
	7616 GUGGENHEIM ENERGY 16 MO	P	2014-06-17	2015-04-27
	10001 GUGGENHEIM MLP & ENERGY 2 MO	P	2013-03-28	2015-03-30
	9218 GUGGENHEIM US HI DIV STRAT 2YR	P	2013-06-28	2015-02-23
	5050 GUGGENHEIM US HIGH DIV STRAT 2YR 4 MO	P	2014-06-17	2015-04-27
	12872 GUGGENHEIM US HIGH DIV STRAT 2YR 6 MO	P	2014-06-17	2015-04-27
	2580 HANDY & HARMAN LTD	P	2014-12-04	2015-08-11
	18970 HANESBRANDS	P	2015-05-06	2015-08-11
	4730 HARMON INTERNATIONAL	P	2015-05-06	2015-06-09
	811 HARMON INTERNATIONAL	P	2015-05-05	2015-07-08
	10930 HCC INSURANCE HOLDINGS	P	2015-02-05	2015-06-15
	320 HCI GROUP INC	P	2015-05-07	2015-10-13
	1050 HERITAGE-CRYSTAL CLEAN INC	P	2015-07-06	2015-08-11
	470 HESKA CORP	P	2015-11-06	2015-12-10
	1270 HMN FINANCIAL INC	P	2015-05-07	2015-08-11
	475 HURCO COMPANIES INC	P	2015-05-07	2015-08-11
	430 ICF INTERNATIONAL INC	P	2015-09-04	2015-11-12
	1722 IDT CORP	P	2013-12-16	2015-01-26
	20230 INGRAM MICRO	P	2014-08-12	2015-02-10
	770 INTELIQUENT INC	P	2015-09-07	2015-10-13
	20036 INVESCO ENRGY 50 QT	P	2014-05-14	2015-04-27
	14915 INVESCO HIGH INCOME ALLOC 2014-3 MO	P	2014-07-31	2015-04-27
	14830 INVESCO LTD	P	2014-08-12	2015-10-09
	9833 INVESCO MLP & INCM 5 MO	P	2014-07-31	2015-04-27
	10317 INVESCO STRAT GLBL INCM 19 MO	P	2014-07-31	2015-04-27
	145 INVESTMENT GRADE INCOME TR 10-20 YR UNIT 28	P	2012-07-19	2015-04-27
	360 ISHARES CORES S&P MID-CAP	P	2014-01-01	2015-02-20
	179 ISHARES CORES S&P MID-CAP	P	2015-01-01	2015-12-22
	7741 ISHARES MSCI EAFE INDEX FUND	P	2015-01-01	2015-08-26
	6800 ISHARES MSCI EAFE INDEX FUND	P	2014-01-01	2015-08-31
	4109 ISHARES MSCI EMERGING MARKET	P	2014-01-01	2015-08-10
	200 ISLE OF CAPRI CASINOS INC	P	2015-05-12	2015-07-09
	6200 JACK IN THE BOX INC	P	2015-08-06	2015-11-10
	620 JAMES RIVER GRP HLDGS	P	2015-05-12	2015-06-10
	305 KADANT	P	2015-05-12	2015-06-10
	41090 KEYCORP	P	2015-05-06	2015-11-10
	1200 KIMBALL ELECTRONICS INC	P	2015-10-07	2015-12-10
	520 KMG CHEMICALS	P	2015-05-12	2015-07-09
	8230 KOHLS CORP	P	2015-05-06	2015-07-09
	7240 LAM RESEARCH	P	2015-06-04	2015-10-09
	500 LANETT CO	P	2014-12-04	2015-03-12
	1550 LANNETT CO INC	P	2014-12-04	2015-12-10
	2300 LANTHEUS HOLDIGS INC	P	2015-08-07	2015-09-10
	415 LEGG MASON INC	P	2014-06-06	2015-03-12
	1700 LEGG MASON INC	P	2014-06-06	2015-09-09
	560 LEMAITRE VASCULAR INC	P	2015-05-07	2015-12-10
	490 LHC GROUP INC	P	2015-05-07	2015-08-12
	2710 LIONBRIDGE TECHNOLOGIES INC	P	2015-05-12	2015-06-10
	1060 LITTELFUSE INC	P	2014-01-01	2015-10-14
	830 LYONDELL BASEL INC	P	2015-02-05	2015-04-28
	9481.038 MANAGED INC FD-INSTL FUND 2119	P	2015-01-01	2015-04-13
	19960.08 MANAGED INC FD-INSTL FUND 2119	P	2015-01-01	2015-04-16
	2347.652 MANAGED INC FD-INSTL FUND 2119	P	2015-01-01	2015-08-27
	6730 MANPOWERGROUP INC	P	2014-06-10	2015-02-10
	14000 MARATHON	P	2014-01-01	2015-10-09
	10890 MARSH & MCLENNAN CO	P	2014-10-09	2015-09-10
	1350 MAXLINEAR INC	P	2015-08-06	2015-10-13
	460 MEDTRONIC PLC	P	2014-10-27	2015-04-28
	8000 MEDTRONIC PLC	P	2014-10-27	2015-11-10
	3340 MERGE HEALTHCARE INC	P	2015-05-07	2015-08-11
	160 MESA LABORATORIES INC	P	2015-07-06	2015-09-10
	12500 METLIFE INCORPORATED PFD 6.50	P	2005-05-09	2015-06-29
	17350 MICRON TECHNOLOGY INC	P	2015-01-07	2015-06-09
	645 MILLER INDUSTRIES INC	P	2015-05-12	2015-06-10
	1335 MINERALS TECHNOLOGIES INC	P	2014-11-07	2015-09-09
	12500 MORGAN STANLEY CAPITAL TRUST 6.6%	P	2014-05-01	2015-05-12
	397 MULTI-COLOR CORP	P	2014-11-07	2015-01-26
	2400 MYLAN NV EUR	P	2013-01-09	2015-04-09
	1600 MYLAN NV EUR	P	2013-01-09	2015-04-28
	700 MYLAN NV EUR	P	2013-01-09	2015-05-11
	510 MYR GROUP INC	P	2015-05-07	2015-09-10
	2000 NASDAQ OMX GROUP	P	2013-02-11	2015-05-11
	2000 NASDAQ OMX GROUP	P	2013-02-11	2015-12-04
	160 NATURAL HEALTH TRENDS CORP	P	2015-05-07	2015-06-10
	160 NATURAL HEALTH TRENDS CORP	P	2015-05-07	2015-11-12
	90 NATURAL HEALTH TRENDS CORP	P	2015-05-07	2015-12-10
	2500 NEOGENOMICS INC	P	2015-08-07	2015-11-05
	NET TAX LOT ADJUSTMENTS	P	2015-01-31	2015-01-31
	NET TAX LOT ADJUSTMENTS	P	2015-01-31	2015-01-31
	4548.211 NEUBERGER BER MU/C OPP	P	2015-01-01	2015-05-18
	1666.667 NEUBERGER BER MU/C OPP	P	2014-01-01	2015-12-18
	1950 NORTHROP GRUMMAN CORP	P	2012-10-08	2015-02-10
	500 NORTHROP GRUMMAN CORP	P	2012-10-08	2015-12-04
	19000 NRG ENERGY INC	P	2014-08-12	2015-04-09
	5565 OCCIDENTAL PETE CORP	P	2014-01-19	2015-01-12
	3143.762 OCH-ZIFF OZOFII	P	2015-01-01	2015-08-17
	810 OLIN CORP	P	2013-10-02	2015-03-12
	390 OLIN CORP	P	2013-10-02	2015-04-01
	14390 OMEGA HEALTHCARE INVESTORS INC	P	2015-01-07	2015-05-11
	4100 OMNIVISION TECHNOLOGIES INC	P	2014-08-14	2015-09-09
	522 ON ASSIGNMENT, INC	P	2013-11-07	2015-01-26
	2910 ON ASSIGNMENT, INC	P	2013-11-07	2015-05-08
	635 OPPENHEIMER HOLDING CL A	P	2015-05-07	2015-09-10
	168039.853 OPPENHEIMER INTL BOND CL A	P	2006-04-18	2015-04-27
	12350 ORACLE CORP	P	2013-03-11	2015-04-09
	1700 ORCHID ISLAND CAPITAL INC	P	2015-11-06	2015-12-10
	9150 PACKAGING CORP	P	2013-07-10	2015-02-10
	255 PAPA JOHNS INTL INC	P	2013-01-18	2015-01-26
	1605 PAPA JOHNS INTL INC	P	2013-01-18	2015-12-10
	820 PAPA MURPHYS HLDGS	P	2015-05-07	2015-12-10
	944 PARTNER RE HOLDINGS LTD	P	2014-08-14	2015-04-17
	0.5 PATRICK INDUSTRIES INC	P	2015-05-07	2015-08-14
	3050 PATTERSON UTI ENERGY INC	P	2014-04-07	2015-01-26
	605 PC CONNECTION INC	P	2015-05-07	2015-08-11
	300000 PEABODY ENERGY CORP	P	2014-06-18	2015-03-09
	1160 PEP BOYS MANNY MOE & JACK COM	P	2015-10-07	2015-10-29
	260 PGT INC	P	2015-05-07	2015-07-09
	1050 PGT INC	P	2015-05-07	2015-09-10
	7230 PHILIP MORRIS INTL INC	P	2015-05-06	2015-10-09
	14014.435 PIMCO ALL ASSET CL A	P	2015-02-07	2015-04-27
	44302.824 PIMCO COMMODITY	P	2014-01-01	2015-08-06
	PIMCO COMMODITY	P	2015-01-01	2015-08-06
	2540 PLANAR SYSTEMS INC	P	2015-05-12	2015-07-09
	1230 POWERSECURE INTERNATIONAL INC	P	2015-01-01	2015-10-13
	220 PPG INDUSTRIES INC	P	2013-05-08	2015-04-28
	5360 PPG INDUSTRIES INC	P	2013-05-08	2015-10-09
	1790 PRA GROUP INC	P	2014-01-14	2015-09-09
	110 PREFERED BANK LA	P	2015-05-07	2015-12-10
	3016.895 PRIMECAP ODYSSET STOCK FUND	P	2015-01-01	2015-05-18
	3180.662 PRIMECAP ODYSSET STOCK FUND	P	2014-01-01	2015-12-18
	1990 PRIMERICA INC	P	2013-01-22	2015-10-14
	12435.678 PRINCIPAL MIDCAP FUND	P	2014-01-01	2015-02-27
	4239.084 PRINCIPAL MIDCAP FUND	P	2014-01-01	2015-07-16
	14110 PTC INC	P	2014-03-13	2015-02-10
	14280 PUBLIC SVC ENTERPRISE GROUP INC	P	2013-08-12	2015-01-12
	252 QORVO INC	P	2014-12-04	2015-01-26
	1448 QORVO INC	P	2014-12-04	2015-06-08
	1770 RADNET INC	P	2015-05-12	2015-06-10
	10000 ROBERT HALF INTL INC	P	2015-02-05	2015-11-10
	775 ROCKY BRANDS INC	P	2015-09-04	2015-11-12
	3730 ROPER TECHONOLOGIES INC	P	2015-02-05	2015-05-11
	2100 RTI SURGICAL SURGICAL INC	P	2015-06-05	2015-10-13
	7190 SCHLUMBERGER LTD	P	2015-03-05	2015-12-09
	1500 SCICLONE PHARMACEUTICALS INC	P	2015-06-05	2015-09-10
	11900 SCICLONE PHARMACEUTICALS INC	P	2015-07-14	2015-10-14
	1850 SECURITY NATIONAL FINANCIAL CORP	P	2015-08-06	2015-09-10
	450000 SG MARKET PLUS SX5E	P	2014-01-01	2015-02-12
	2100 SHORETEL INC	P	2015-08-05	2015-09-10
	985 SINO AGRO FOOD INC	P	2015-05-07	2015-10-13
	3700 SKYWORKS SOLUTIONS INC	P	2013-10-08	2015-03-10
	900 SKYWORKS SOLUTIONS INC	P	2013-10-08	2015-05-11
	680 SNAP ON INC	P	2015-04-06	2015-12-09
	650 SOUTHERN MICHIGAN BANCORP	P	2015-05-12	2015-06-10
	1000 SOUTHWEST AIRLINES CO	P	2014-01-09	2015-04-28
	570 SP PLUS CORPORATION	P	2015-06-05	2015-10-13
	275 SPDR S&P 500 ETF TRUST	P	2015-01-01	2015-02-20
	6050 SPX CORPORATION	P	2014-10-27	2015-03-10
	6270 STANLEY BLACK & DECKER INC	P	2015-01-07	2015-04-09
	400 STAR GAS PARTNERS LP	P	2015-05-12	2015-07-09
	1730 SUPREME INDUSTRIES INC	P	2015-09-04	2015-11-12
	3385 SYNERGETICS USA INC	P	2015-05-07	2015-09-08
	8000 TARGET CORP	P	2015-03-05	2015-05-11
	8650 TE CONNECTIVITY	P	2015-04-06	2015-06-09
	910 THE HANOVER INSURANCE GROUP, INC	P	2015-07-06	2015-12-09
	4420 THERMO FISHER SCIENTIFIC INC	P	2012-12-10	2015-02-10
	1140 TILLY'S INC	P	2015-06-10	2015-06-10
	1340 TITAN MACHINERY INC	P	2015-01-01	2015-10-13
	1165 TOWNSQUARE MEDIA INC	P	2015-05-07	2015-09-10
	905 TRAVELCENTERS OF AMERICA LLC	P	2015-05-07	2015-09-10
	990 TRAVELERS COMPANIES INC	P	2014-11-10	2015-11-10
	1000 TRECORA RESOURCES	P	2015-06-05	2015-11-12
	1150 TRISTATE CAPITAL HOLDINGS	P	2015-08-06	2015-11-12
	2390 UBIQUITI	P	2013-10-02	2015-01-26
	600 UFP TECHNOLOGIES INC	P	2015-11-06	2015-12-10
	6080 UNITED RENTALS INC	P	2014-03-13	2015-02-10
	168 UNITED THERAPEUTICS CORP	P	2014-04-07	2015-01-26
	1590 UNITEDHEALTH GROUP INC	P	2013-06-11	2015-02-10
	250 UNITEDHEALTH GROUP INC	P	2013-06-11	2015-04-28
	15700 UNUM GROUP	P	2013-11-08	2015-02-10
	12860 US BANCORP	P	2014-04-09	2015-04-06
	260 US CONCRETE INC	P	2015-05-12	2015-11-12
	150 US CONCRETE INC	P	2015-05-07	2015-10-13
	2448.58 US LARGE CAP CORE PLUS FD	P	2015-01-01	2015-05-18
	1697503.405 US REAL ESTATE INCOME & GROWTH	P	2014-01-01	2015-04-22
	9983 VAN KAMPEN UNIT TRS 1252 PFD OPPTY SER 19 MTHLY	P	2012-09-18	2015-04-29
	4094 VANGUARD FTSE EUROPE ETF	P	2015-01-01	2015-08-26
	460 VASCULAR SOLUTIONS INC	P	2015-05-07	2015-11-12
	4740 VECTOR GROUP LTD	P	2014-11-07	2015-04-09
	9000 VOYA RISK MANAGED NATURAL RESOURCES	P	2012-07-10	2015-04-27
	350000 WALTER INVESTMENT MANAGEMENT	P	2014-07-08	2015-01-12
	12020 WASTE MGMT INC	P	2014-11-10	2015-05-11
	1480 WESTERN DIGITAL CORP	P	2011-07-15	2015-04-28
	6000 WESTERN DIGITAL CORP	P	2011-07-15	2015-07-09
	1280 WILDAN GROUP INC	P	2015-11-10	2015-12-10
	2030 WOODWARD INC	P	2014-01-01	2015-09-09
	180 WORLD ACCEPTANCE CORPORATION	P	2015-06-05	2015-08-11
	2867 WORTHINGTON INDUSTRIES INC	P	2012-09-06	2015-03-12
	680 WYNDAM WORLDWIDE CORP	P	2014-05-09	2015-04-28
	7000 WYNDAM WORLDWIDE CORP	P	2014-05-09	2015-12-09
	385 ZAGG INC	P	2015-05-07	2015-12-10
	6930 ZEBRA TECHNOLOGIES CORP	P	2015-02-05	2015-09-10
	5370 ZIMMER HLDGS INC	P	2013-09-13	2015-05-11
		P
		P
	AUTOMOBILE	P	2005-02-24	2015-02-05
	Fitness Equipment	P	2003-04-07	2015-06-30

(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	797,890			797,890
b	9,310			9,310
c	9,292			9,292
d	516,251		650,000	-133,749
e	74,625		16,132	58,493
	11,108		14,334	-3,226
	79,120		70,588	8,532
	465,999		546,968	-80,969
	92,089		98,666	-6,577
	106,655		109,672	-3,017
	91,876		100,005	-8,129
	73,553		67,020	6,533
	95,584		108,858	-13,274
	21,508		21,473	35
	93,064		103,951	-10,887
	572,310		565,838	6,472
	11,509		15,009	-3,500
	8,599		14,941	-6,342
	96,847		101,636	-4,789
	10,688		13,741	-3,053
	580,605		342,468	238,137
	15,511		15,252	259
	68,306		12,540	55,766
	66,875		24,463	42,412
	217,924		102,585	115,339
	90,320		113,291	-22,971
	15,004		15,129	-125
	508,599		522,292	-13,693
	77,588		39,380	38,208
	619,454		551,025	68,429
	46,467		39,037	7,430
	125,774		91,559	34,215
	504,813		553,273	-48,460
	14,672		15,064	-392
	306,921		322,542	-15,621
	69,974		38,609	31,365
	102,456		50,192	52,264
	11,697		14,870	-3,173
	84,226		78,815	5,411
	621,156		577,973	43,183
	110,078		72,573	37,505
	13,458		14,960	-1,502
	3,738		2,978	760
	543,890		607,978	-64,088
	12,859		13,675	-816
	520,891		588,362	-67,471
	286,978		300,000	-13,022
	200,000		210,804	-10,804
	50,000		49,952	48
	36,036		29,418	6,618
	11,910		14,485	-2,575
	566,884		572,661	-5,777
	14,242		15,126	-884
	14,332		15,111	-779
	530,456		581,069	-50,613
	619,862		583,026	36,836
	571,169		605,815	-34,646
	17,686		14,140	3,546
	17,665		14,877	2,788
	5,459		3,905	1,554
	545,176		590,121	-44,945
	11,148		14,304	-3,156
	22,504		17,069	5,435
	93,146		50,543	42,603
	149,900		145,006	4,894
	632,494		273,837	358,657
	530,360		595,869	-65,509
	198,839		125,860	72,979
	141,554		76,796	64,758
	8,412		15,708	-7,296
	12,291		14,965	-2,674
	11,410		15,113	-3,703
	14,374		14,933	-559
	488,700		601,213	-112,513
	15,582		15,290	292
	190,107		89,823	100,284
	109,394		108,017	1,377
	620,309		614,919	5,390
	78,130		86,874	-8,744
	666,316		700,000	-33,684
	412,921		531,082	-118,161
	520,241		266,967	253,274
	611,685		259,843	351,842
	215,000		215,464	-464
	23,533		14,950	8,583
	398,103		372,785	25,318
	481,754		546,356	-64,602
	14,475		15,120	-645
	12,009		15,052	-3,043
	11,291		14,896	-3,605
	9,889		14,467	-4,578
	472,331		601,588	-129,257
	98,203		104,125	-5,922
	95,981		86,765	9,216
	565,556		565,859	-303
	12,819		15,366	-2,547
	178,752		434,960	-256,208
	99,237		104,796	-5,559
	110,406		90,113	20,293
	84,529		64,515	20,014
	204,869		124,528	80,341
	18,509		15,211	3,298
	100,430		49,734	50,696
	14,395		15,715	-1,320
	86,362		90,874	-4,512
	142,798		149,877	-7,079
	146,363		149,305	-2,942
	53,006		49,986	3,020
	84,298		98,387	-14,089
	137,849		135,003	2,846
	92,312		96,556	-4,244
	95,141		99,910	-4,769
	217,009		75,078	141,931
	13,842		15,223	-1,381
	176,444		139,525	36,919
	13,695		15,186	-1,491
	263,697		235,658	28,039
	12,515		14,722	-2,207
	451,740		575,923	-124,183
	18,901		14,827	4,074
	125,117		399,974	-274,857
	643,587		482,902	160,685
	4			4
	65,864		30,891	34,973
	50,000		49,902	98
	14,531		14,759	-228
	72,747		75,267	-2,520
	14,493		15,063	-570
	90,759		99,406	-8,647
	65,726		87,239	-21,513
	84,999		100,005	-15,006
	114,123		99,888	14,235
	59,012		45,413	13,599
	126,115		127,807	-1,692
	74,917		101,261	-26,344
	539,685		587,852	-48,167
	579,675		579,500	175
	95,791		102,618	-6,827
	841,239		610,580	230,659
	13,008		15,079	-2,071
	13,203		15,225	-2,022
	16,791		15,382	1,409
	14,540		15,583	-1,043
	14,575		15,101	-526
	13,748		14,387	-639
	37,638		30,007	7,631
	506,200		564,990	-58,790
	15,844		14,549	1,295
	170,210		199,494	-29,284
	144,659		149,997	-5,338
	479,705		572,732	-93,027
	86,329		99,794	-13,465
	90,610		99,648	-9,038
	133,786		141,387	-7,601
	54,015		44,804	9,211
	25,279		26,939	-1,660
	464,187		490,628	-26,441
	404,399		462,319	-57,920
	151,849		161,319	-9,470
	3,682		2,965	717
	455,171		568,913	-113,742
	13,807		14,807	-1,000
	13,970		14,911	-941
	530,705		598,603	-67,898
	13,093		14,687	-1,594
	13,112		15,267	-2,155
	516,365		596,472	-80,107
	470,706		600,992	-130,286
	32,260		23,894	8,366
	55,557		74,073	-18,516
	15,467		15,050	417
	23,572		21,118	2,454
	72,243		86,507	-14,264
	8,982		5,499	3,483
	24,788		16,086	8,702
	15,435		15,000	435
	97,502		44,347	53,155
	80,383		73,997	6,386
	95,000		95,000
	200,000		200,000
	23,500		23,500
	497,072		580,383	-83,311
	260,852		393,325	-132,473
	565,558		552,527	13,031
	16,568		14,686	1,882
	36,023		30,596	5,427
	607,482		532,099	75,383
	23,380		15,260	8,120
	17,335		14,418	2,917
	312,500		312,881	-381
	467,784		559,675	-91,891
	12,890		13,217	-327
	70,217		100,096	-29,879
	312,500		313,055	-555
	23,626		21,329	2,297
	139,329		67,494	71,835
	116,668		44,996	71,672
	50,201		19,686	30,515
	14,240		14,891	-651
	98,508		60,399	38,109
	117,918		60,399	57,519
	5,301		4,024	1,277
	8,074		4,024	4,050
	4,209		2,264	1,945
	19,437		14,730	4,707
			3,966	-3,966
			806	-806
	75,000		73,772	1,228
	25,000		26,907	-1,907
	317,058		135,228	181,830
	93,919		34,674	59,245
	457,912		559,651	-101,739
	428,399		508,438	-80,039
	560,000		507,694	52,306
	24,572		18,707	5,865
	102,176		73,673	28,503
	498,206		614,872	-116,666
	101,326		115,622	-14,296
	17,967		17,227	740
	95,607		96,033	-426
	11,783		14,969	-3,186
	994,790		990,273	4,517
	525,653		443,312	82,341
	15,396		15,564	-168
	701,746		461,139	240,607
	15,560		7,053	8,507
	93,122		44,392	48,730
	9,760		14,313	-4,553
	122,410		102,024	20,386
	18		20	-2
	47,687		93,190	-45,503
	13,017		14,947	-1,930
	228,750		304,634	-75,884
	17,284		14,586	2,698
	3,693		3,130	563
	14,055		12,640	1,415
	587,045		603,408	-16,363
	167,887		175,012	-7,125
	288,411		387,476	-99,065
			62,513	-62,513
	10,966		15,394	-4,428
	14,755		17,491	-2,736
	49,587		33,978	15,609
	508,179		416,229	91,950
	93,558		97,521	-3,963
	3,892		3,078	814
	75,000		70,113	4,887
	75,000		73,037	1,963
	95,226		65,493	29,733
	290,000		240,819	49,181
	100,000		79,780	20,220
	479,570		543,630	-64,060
	590,137		484,112	106,025
	17,597		15,755	1,842
	117,736		90,527	27,209
	11,186		15,201	-4,015
	521,041		618,794	-97,753
	9,227		14,689	-5,462
	625,702		602,502	23,200
	11,345		13,831	-2,486
	533,185		609,250	-76,065
	12,173		13,673	-1,500
	83,058		109,123	-26,065
	12,837		14,829	-1,992
	541,179		450,000	91,179
	15,069		15,089	-20
	9,224		15,110	-5,886
	337,684		92,700	244,984
	85,676		22,549	63,127
	116,234		101,623	14,611
	14,794		15,002	-208
	43,764		20,643	23,121
	12,799		14,154	-1,355
	57,789		51,239	6,550
	524,345		557,583	-33,238
	606,408		592,708	13,700
	3,551		2,991	560
	13,049		14,514	-1,465
	22,091		15,319	6,772
	631,120		624,993	6,127
	591,171		615,832	-24,661
	76,879		69,966	6,913
	559,689		286,554	273,135
	11,244		15,240	-3,996
	17,079		18,356	-1,277
	12,598		14,929	-2,331
	10,310		14,422	-4,112
	113,097		101,930	11,167
	13,676		14,159	-483
	14,805		14,660	145
	69,134		84,031	-14,897
	13,787		14,990	-1,203
	542,094		546,597	-4,503
	24,840		15,728	9,112
	173,386		101,664	71,722
	29,426		15,985	13,441
	512,506		521,617	-9,111
	556,065		539,526	16,539
	15,526		9,702	5,824
	8,435		5,597	2,838
	75,000		74,535	465
	1,310,584		1,159,372	151,212
	90,540		95,742	-5,202
	211,243		225,723	-14,480
	15,457		15,031	426
	105,446		103,298	2,148
	79,199		98,435	-19,236
	314,125		373,283	-59,158
	582,725		596,322	-13,597
	147,587		55,374	92,213
	473,961		219,620	254,341
	11,404		15,251	-3,847
	92,275		27,118	65,157
	9,158		13,835	-4,677
	74,628		63,692	10,936
	61,693		48,643	13,050
	527,794		500,736	27,058
	4,324		3,051	1,273
	547,712		603,345	-55,633
	589,856		438,585	151,271
	2,749,782			2,749,782
			2,749,776	-2,749,776
	9,500	65,846	65,846	9,500
		16,519	16,519

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			797,890
b			9,310
c			9,292
d			-133,749
e			58,493
			-3,226
			8,532
			-80,969
			-6,577
			-3,017
			-8,129
			6,533
			-13,274
			35
			-10,887
			6,472
			-3,500
			-6,342
			-4,789
			-3,053
			238,137
			259
			55,766
			42,412
			115,339
			-22,971
			-125
			-13,693
			38,208
			68,429
			7,430
			34,215
			-48,460
			-392
			-15,621
			31,365
			52,264
			-3,173
			5,411
			43,183
			37,505
			-1,502
			760
			-64,088
			-816
			-67,471
			-13,022
			-10,804
			48
			6,618
			-2,575
			-5,777
			-884
			-779
			-50,613
			36,836
			-34,646
			3,546
			2,788
			1,554
			-44,945
			-3,156
			5,435
			42,603
			4,894
			358,657
			-65,509
			72,979
			64,758
			-7,296
			-2,674
			-3,703
			-559
			-112,513
			292
			100,284
			1,377
			5,390
			-8,744
			-33,684
			-118,161
			253,274
			351,842
			-464
			8,583
			25,318
			-64,602
			-645
			-3,043
			-3,605
			-4,578
			-129,257
			-5,922
			9,216
			-303
			-2,547
			-256,208
			-5,559
			20,293
			20,014
			80,341
			3,298
			50,696
			-1,320
			-4,512
			-7,079
			-2,942
			3,020
			-14,089
			2,846
			-4,244
			-4,769
			141,931
			-1,381
			36,919
			-1,491
			28,039
			-2,207
			-124,183
			4,074
			-274,857
			160,685
			4
			34,973
			98
			-228
			-2,520
			-570
			-8,647
			-21,513
			-15,006
			14,235
			13,599
			-1,692
			-26,344
			-48,167
			175
			-6,827
			230,659
			-2,071
			-2,022
			1,409
			-1,043
			-526
			-639
			7,631
			-58,790
			1,295
			-29,284
			-5,338
			-93,027
			-13,465
			-9,038
			-7,601
			9,211
			-1,660
			-26,441
			-57,920
			-9,470
			717
			-113,742
			-1,000
			-941
			-67,898
			-1,594
			-2,155
			-80,107
			-130,286
			8,366
			-18,516
			417
			2,454
			-14,264
			3,483
			8,702
			435
			53,155
			6,386



			-83,311
			-132,473
			13,031
			1,882
			5,427
			75,383
			8,120
			2,917
			-381
			-91,891
			-327
			-29,879
			-555
			2,297
			71,835
			71,672
			30,515
			-651
			38,109
			57,519
			1,277
			4,050
			1,945
			4,707
			-3,966
			-806
			1,228
			-1,907
			181,830
			59,245
			-101,739
			-80,039
			52,306
			5,865
			28,503
			-116,666
			-14,296
			740
			-426
			-3,186
			4,517
			82,341
			-168
			240,607
			8,507
			48,730
			-4,553
			20,386
			-2
			-45,503
			-1,930
			-75,884
			2,698
			563
			1,415
			-16,363
			-7,125
			-99,065
			-62,513
			-4,428
			-2,736
			15,609
			91,950
			-3,963
			814
			4,887
			1,963
			29,733
			49,181
			20,220
			-64,060
			106,025
			1,842
			27,209
			-4,015
			-97,753
			-5,462
			23,200
			-2,486
			-76,065
			-1,500
			-26,065
			-1,992
			91,179
			-20
			-5,886
			244,984
			63,127
			14,611
			-208
			23,121
			-1,355
			6,550
			-33,238
			13,700
			560
			-1,465
			6,772
			6,127
			-24,661
			6,913
			273,135
			-3,996
			-1,277
			-2,331
			-4,112
			11,167
			-483
			145
			-14,897
			-1,203
			-4,503
			9,112
			71,722
			13,441
			-9,111
			16,539
			5,824
			2,838
			465
			151,212
			-5,202
			-14,480
			426
			2,148
			-19,236
			-59,158
			-13,597
			92,213
			254,341
			-3,847
			65,157
			-4,677
			10,936
			13,050
			27,058
			1,273
			-55,633
			151,271
			2,749,782
			-2,749,776
			9,500

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	2,749,782
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

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

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

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

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

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

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	5,816,529	106,197,014	0.05477
2013	6,243,349	103,319,289	0.06043
2012	5,535,860	95,610,797	0.05790
2011	5,583,497	95,827,613	0.05827
2010	6,319,975	88,398,584	0.07149

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

20.302859

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .

0.060572

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

101,978,040

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

6,177,014

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

49,004

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

6,226,018

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

6,618,003

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2015)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	49,004
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	49,004
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	49,004
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	200,633
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	200,633
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	151,629
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax151,629	Refunded	11

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

www.thebrownfoundation.org

The books are in care of bullet

E F Hunter Telephone no. bullet

(504) 834-3433

Located at bullet

320 Hammon Highway Ste 500MetairieLA ZIP+4 bullet

70005

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

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

16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2015.)..................

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

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

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

Form 990-PF (2015)

Page 6

Part VII-B

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2015)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation
David Paul Spencer	Trustee 22.00	87,536	116,307
470 Woodvine Ave Metairie,LA70005	Trustee 22.00	87,536	116,307
Edwin Ford Hunter	President 30.00	54,636
1807 Lake Street Lake Charles,LA70601	President 30.00	54,636
David B Spencer	Vice President 15.00	31,300
915 Royal Street New Orleans,LA70116	Vice President 15.00	31,300
Edwin K Hunter	Secretary 15.00	31,300
9356 N Redhawk Trail Park City,UT84098	Secretary 15.00	31,300
Betty M Estopinal	Treasurer 15.00	23,975
83 Chateau Du Lac Kenner,LA70065	Treasurer 15.00	23,975
Barbara G Spencer	PROGRAM OFFICER 1.00	1,600
470 Woodvine Ave Metairie,LA70005	PROGRAM OFFICER 1.00	1,600
Ronald P Spencer	PROGRAM OFFICER 15.00	31,300
4958 Southwest 7th Avenue Ocala,FL34474	PROGRAM OFFICER 15.00	31,300

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
Elizabeth Buscher	Staff 40.00	55,500	38,512
2021 Aramis Drive Meraux,LA70075	Staff 40.00	55,500	38,512
Christina E Bouzon	Staff 40.00	48,815	38,640
320 Shrewsbury CT Jefferson,LA70121	Staff 40.00	48,815	38,640
MARY C POCHE	STAFF 40.00	33,386	20,694
130 NOTTAWAY DRIVE DESTREHAN,LA70047	STAFF 40.00	33,386	20,694
HARRY J PENEGUY	STAFF 32.00	31,883	38,931
61093 LYNNWOOD DR LACOMBE,LA70445	STAFF 32.00	31,883	38,931
ALBERT D PENEGUY	STAFF 32.00	31,702	34,942
62071 WILDFLOWER LANE BIG BRANCH,LA70445	STAFF 32.00	31,702	34,942
Total number of other employees paid over $50,000...................

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

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1	The Service Learning Action Program Offers Service Learning Awards to Schools in Nine Parishes in the Greater New Orleans area that are interested in infusing service learning into the school curriculum.For the 2015-2016 school year, service learning awards were given to 68 schools and 5 agencies in 9 parishes.	346,036
2	The organization owns its building. It occupies one floor and the other two floors provide office space for charitable and non-profit organizations. The organization had leases with four non-profit tenants in 2015.	442,969
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	SOUTH PIKE HOSPITAL ASSOCIATION INC. - CAMPUS RENOVATIONS AND PROGRAM EXPANSION, FIRST RIGHT SECURITY OVER PHYSICAL PLANT.	1,500,000
2	FELLOWSHIP OF ORTHOPAEDIC RESEARCHERS - MEDICAL RESEARCH - MAGNETIC TECHNOLOGY FOR PROSTHETICS	523,752
All other program-related investments. See instructions.
3		650,000

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

2,673,752

Form 990-PF (2015)

Page 8

Part X

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

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

purposes:

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

95,035,175

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

6,277,685

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

2,218,145

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

103,531,005

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

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

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

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

103,531,005

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

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

1,552,965

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

101,978,040

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

5,098,902

Part XI

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

and do not complete this part.)

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

5,098,902

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

49,004

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

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

49,004

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

5,049,898

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

160,581

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

5,210,479

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

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

5,210,479

Part XII

Qualifying Distributions (see instructions)

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

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

3,944,251

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

2,673,752

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

6,618,003

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

49,004

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

6,568,999

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2015)

Page 9

Part XIII

Undistributed Income (see instructions)

	(a) Corpus	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7			5,210,479
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......		2,052,100
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2015:
a From 2010......
b From 2011......
c From 2012......
d From 2013......
e From 2014......
fTotal of lines 3a through e........
4Qualifying distributions for 2015 from Part
XII, line 4: $ 6,618,003
a Applied to 2014, but not more than line 2a		2,052,100
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........	0
d Applied to 2015 distributable amount.....			4,565,903
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2015.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........			644,576
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......
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)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2015, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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

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

Part XV

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

1Information Regarding Foundation Managers:

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

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

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

Check here bullet

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

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

E F Hunter
320 Hammond Hwy Suite 500
Metairie,LA70005
(504) 834-3433

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

BE APPROVED TO SUBIT, COMPLETE GRANT APPLICATION, IRS EXEMTION LETTER, FINANCIAL STATEMENTS, LIST OF BOARD OF DIRECTORS & KEY STAFF, AND PROVIDE TAX RETURN.

cAny submission deadlines:

none

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

none

Form 990-PF (2015)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEE SCHEDULE 320 HAMMOND HWY METAIRIE,LA70005	None	PC	SEE SCHEDULE	3,173,658
Total ................................. 3a				3,173,658

bApproved for future payment

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

Form 990-PF (2015)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	2,142,626
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	2,749,782
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aRental Income			16	212,553
bRoyalty Income-Oil & Gas			15	527,767
cRoyalty Income-PRI			15	304,660
d
e
12 Subtotal. Add columns (b), (d), and (e)..				5,937,388

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

135,937,388

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2015)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2015)

Additional Data

Software ID:	15000324
Software Version:	2015v2.0

Form 990PF - Special Condition Description:

Special Condition Description

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
Betty M Estopinal CPA	22,039	11,019	11,020
Johnson, Mire & Fernandez	25,695	12,848	12,847
Paychex Fees	2,881	1,441	1,440

Category	Amount
CEREBRAL THERAPEUTICS LLC - EPILEPSY STUDY	500,000
FELLOWSHIP OF ORTHOPAEDIC RESEARCHERS - MOIRAI	150,000

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income
Brown Center - BLDG	2003-04-04	8,041,916	2,414,427	SL	2.56 %	206,195	22,908	137,470
Brown Center - Improve	2004-07-31	123,819	33,207	SL	2.56 %	3,175	353	2,117
3 Lights - Parking Garage	2014-07-28	2,749	393	200DB	24.49 %	673	75
Copier	2011-11-07	8,950	7,114	200DB	10.94 %	979	326
Computer Equipment-SVC L	2012-04-26	6,110	4,350	200DB	11.52 %	704	235
Server	2012-05-15	14,776	10,520	200DB	11.52 %	1,702	567
Printer-Front Desk	2012-10-08	958	683	200DB	11.52 %	110	37
Printer	2012-10-19	1,747	1,243	200DB	11.52 %	201	67
IPADS	2013-02-07	5,640	2,933	200DB	19.20 %	1,083	361
IPAD	2014-02-05	828	166	200DB	32.00 %	265	88
Computer	2014-07-30	1,394	279	200DB	32.00 %	446	149
Computer	2014-06-18	1,535	307	200DB	32.00 %	491	164
2 Dell Optiplex Computers	2014-03-12	2,650	530	200DB	32.00 %	848	283

Name of Bond	End of Year Book Value	End of Year Fair Market Value
Citigroup Inc 5.95% 7/29/2049-2023	438,087	391,400
Citigroup Inc 10% 5/30/2029-2015	246,305	219,688
Iron Mountain Inc 5.75% 8/15/2024-2017	261,734	241,250
Peabody Energy Corp 6.25% 11/15/2021
Resolute Forest Prod	504,943	363,750
Royal BK ScotLND GRP PLC 7.64% 3/29/2049	350,632	344,850
Walter Investment Management 7.875%
ILFC E-Capital Trust II Var 6.25% 12/21	408,502	364,000
Suntech Power Holdings Bond
Blackrock High Yield PT-Inst	1,289,196	1,152,919
Blackrock II - Floating Rate Income	1,500,048	1,435,524
JPM MANAGED INC FD-INSTL	391,500	391,109
JPM MANAGED INC FD-INSTL	270,000	269,461
AECOM	567,589	534,534

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Mineral Interest	AT COST	817,715	2,214,145
WSW 1996 Buyout	AT COST	8,950	7,473
WSW Int'l Private Equities	AT COST	112,658	94,070
Arden Endowment Advisors	AT COST	900,000	1,553,327
Blue Grass Abs	AT COST	320,005
Omnicapital Fund LP - Partnership	AT COST	1,494,579	1,637,442
EQT Midstream Partners LP	AT COST
Fidelity Convertible Sec Fund	AT COST	7,071,578	8,984,625
Franklin Income Fund Class A	AT COST
NFJ Dividend Interest & Premium Fund	AT COST
Oppenheimer Int'l Fund	AT COST
Advisors Disciplined TR 406 Global	AT COST
First Trust Units	AT COST
Columbia Income Builder	AT COST
Guggenheim Funds	AT COST
Ishares Inc MSCI Brazil Index Fd	AT COST	393,770	134,420
Ishares Tr MSCI Emerging Mkts Index Fd	AT COST	200,019	160,564
EGA Emerging Global	AT COST	197,280	120,607
Powershares Db Commodity Index	AT COST	173,755	85,504
SPDR Index SHS FDS	AT COST	399,487	440,804
Vanguard Intl Equity Index FDS	AT COST	184,917	130,840
Wisdomtre Global Ex US Growth Fund	AT COST	399,924	374,836
Powershares Global	AT COST	199,224	191,170
Wisdomtree Emerging Mkt Fund	AT COST	98,630	56,952
Investment Grade Income Trust 10-20 yr	AT COST
Pimco All Asset Class A	AT COST
Van Kampen Unit TRS 1252 PFD Oppty	AT COST
Highbridge Prin Strategies CR OPP Fund	AT COST	428,000	496,613
JPM US Large Cap Core Plus Fund	AT COST	829,031	808,383
JPMorgan US Real Estate Income & Growth	AT COST
Neuberger MU/C Opp-Ins	AT COST	754,102	829,677
Invesco High Income Alloc 2014-3	AT COST
Ishares Core S&P Mid Cap	AT COST	859,394	918,676
Principal Midcap Fund Ins	AT COST	282,444	313,659
Dodge & Cox Intl Stock Fund	AT COST	900,000	815,941
Ishares MSCI Eafe Index Fund	AT COST
Oakmark International Fund	AT COST	975,000	817,485
SG Market Plus SX5E	AT COST
Aberdeen Asia-Pac XJ-Inst	AT COST
Ishares Msci All Country Asia	AT COST	389,106	367,728
Delaware Emerging Markets	AT COST
Invesco Energy Fund	AT COST
Invesco MLP Fund	AT COST
Invesco Strategic Global	AT COST
Voya Risk Managed Natural Resource Fund	AT COST
Primecap Odyssey Stock Fund	AT COST	761,850	853,259
SPDR S&P 500 ETF Trust	AT COST	905,286	945,141
Tributary Small Co-Inst Plus Fund	AT COST	220,000	214,098
Brown Adv Japan Alpha OPP-IS Fund	AT COST	195,000	208,819
Matthews Asis Dividend - Ins Fund	AT COST	388,768	390,715
Ishares Msci Emerging Market Index	AT COST
Bridgewater Private Investors Offshore L	AT COST	300,000	301,807
Miura Global Fund LTD	AT COST	450,000	483,854
OCH-Ziff Ozofit Private Investors	AT COST	242,306	254,956
Paulsson Enhanced LTD Class C	AT COST	525,000	441,830
Shannon River Partners LTD Class N	AT COST	450,000	452,739
TPG-Axon Partners (Offshore) LTD	AT COST	450,000	422,870
Winton Future=RES Fund LTD Class B	AT COST	500,000	585,126
York Credit Opportunities Unit Trust	AT COST	525,000	470,637
Pimco Commoditypl Strat-P	AT COST
SPDR Gold Trust	AT COST	124,555	101,460
JP Morgan Leveraged Loans LTD 3%	AT COST
JPM Managed Inc Fd - Instl	AT COST	690,000	689,171
Dodge & Cox Income Fund	AT COST	219,536	209,450
Doubleline Total Ret BD-I	AT COST	750,407	736,714
Vanguard Total Bond Market Index	AT COST	552,500	537,217
Blackrock High Yield PT	AT COST	1,100,000	975,498
SPDR S&P 500 ETF Trust	AT COST	400,838	438,117
Ishares Core S&P Midcap ETF	AT COST	370,711	414,895
Global Access Pe Vintage 2014 LP	AT COST	150,774	143,148
DEUTSCH X-TRACKERS MSCI EAF	AT COST	517,874	523,237
DEUTSCHE X-TRACKERS MSCI EUR	AT COST	412,102	409,516
ISHARES MSCI INDIA ETF	AT COST	440,241	374,413
VIRTUS EMERGING MKTS OPPOR	AT COST	665,000	573,475
PRUDENTIAL GLOBAL REAL EST-Z	AT COST	225,000	213,291
DEUTSCHE X-TRACKERS MSCI EUR	AT COST	372,787	381,029
BROWN ADV JAPAN ALPHA OPP-IS	AT COST	50,000	45,409
ISHARES COHEN & STEERS REALTY MAJORS	AT COST	605,919	640,098
PRUDENTIAL GLOBAL REAL EST-Z	AT COST	225,000	213,291
VINTAGE 2014 PRIVATE INVESTMENTS	AT COST	114,409	143,148

Name of Stock	End of Year Book Value	End of Year Fair Market Value
Hancock Holding Corp	284,250	319,558
Merrill Lynch Cap TR-Preferred	512,504	519,358
General Motors
Metlife Preferred
In Generon	371,500	371,500
Inset Technologies	2,575,000	2,575,000
Morgan Stanley Cap Trust PFD
Barclays - Preferred	250,000	265,300
HSBC Holdings - Preferred	250,000	266,300
Regions Financial - Preferred	499,698	527,200
BB&T Capital - Preferred	226,465	264,200
Goldman Sachs - Preferred	93,456	95,770
Bank of New York Preferred	119,723	129,100
Flownix Medical Common Stock	2,308,256	2,308,256
Alamo Group	95,809	88,570
AIR PRODS & CHEMS INC COM	567,343	554,267
American Equity Investment Life Hldg Co	91,369	89,151
Amerisafe Inc	45,461	139,466
Amtrust Financial Service	72,237	116,386
AT&T	526,206	516,150
AT&T Inc
Allstate Corp
Ameriprise Finl Inc	278,519	500,174
Apollo Educatin Group Inc Cl A
Apple Inc	262,782	526,300
Archer Daniels Midland
Arris Group Inc
Autozone Inc	297,293	571,271
Anixter Intl Inc
Albemarle Corporation
Actavis PLC
AON PLC	532,870	585,072
Arris Group Inc
Ambarella Inc
AMC Networks	613,986	604,908
Ball Corp
Bancfirst Corp
Bank of New York MELLON CORP	604,980	617,063
Best Buy Inc
Boyd Gaming Corp	82,850	113,656
Brinker Intl Inc
Brown Shoe Co
CVS Health Corp	292,900	586,620
Capital One Finl Corp
Carlisle Companies
Comcast
Constellation Brands Inc	310,739	622,463
Corning Inc	508,683	561,562
CNO Financial Group Inc
Cal Maine Foods Inc	98,198	105,424
Centene Corp	84,920	120,959
City Holding Co	68,641	96,757
Cash America Intl	105,261	97,248
Devry Education Group
Disney Walt Co	583,347	543,264
Discover Finl Svcs
Dover Corp
Dow Chem Co
Dana Holdings Corp
Deckers Outdoor Corp
Deluxe	573,337	533,401
Dynegy Inc
East West Bancorp	98,693	113,749
Expedia Inc	348,078	576,752
Ensco
Everest Re Group	328,489	641,730
Encore Capital Group Inc	31,749	74,154
Exponent Inc	55,861	130,869
FBL Financial Group Inc	98,540	113,279
FEI Company
Fiserv Inc	202,384	567,052
Gamestop
Gentex Corp	89,401	99,262
Global Payments Inc	51,266	100,636
Great Plains Inc
Handy & Harman LTD
Hanover Insurance Group	87,747	113,876
IDT Corp	106,966	74,624
Ingram Micro
Intel Corp	570,866	572,215
Invesco LTD
Kadant Inc	103,671	101,525
Lannett Co Inc
Leggett & Platt Inc	100,742	105,680
Legg Mason Inc
Littlefuse Inc
Manpowergroup Inc
Marathon Oil
Marathon Pete Corp	186,095	570,240
Marsh & Mclennan Co
Medtronic
Minerals Technologies
Multi-Color Corp	87,733	97,671
Mylan Inc	233,418	448,781
Nasdaq OMX Group	301,995	581,700
Northrop Grumman Corp	228,847	623,073
NRG Energy Inc
Occidental Pete Corp
Olin Corp
Omnivision Technologies
On Assignment Inc
Oracle Corp
Outerwall Inc	117,401	59,158
Packaging Corp of America
Papa Johns Intl Inc
Patterson Uti Energy Inc
Pinnacle West Capital Corp	83,937	99,944
PNC Finl Svcs Group Inc	478,946	599,500
PPG Industries Inc
Partner Re Holdings LTD
PRA Group Inc
Prestige Brands Hldgs	55,348	143,217
Primerica Inc
PTC Inc
Public Svc Enterprise Group Inc	637,184	580,350
Reinsurance Group of America	91,050	99,238
Reliance Steel & ALUMINUM CO	612,660	540,300
Repligen Corp	66,154	118,818
RF Micro Devices Inc
Signature Bank New York	108,096	134,966
Skyworks Solutions Inc	152,830	468,663
Southwest Airlines Co	305,516	637,288
SPX Corporation
Suntrust Banks Inc	545,659	616,896
SYNOVUS FINANCIAL CORP	599,511	631,734
Synaptics Inc	53,206	103,639
Textron Inc	589,910	594,862
Thermo Fisher Scientific Inc
Torchmark Corp	553,655	553,880
Travelers Companies Inc	546,715	599,287
Renaissance Holdings LTD	102,494	114,435
Ubiquiti
Ugi Corp	88,565	91,152
United HealthGroup Inc	345,275	635,256
United Rentals Inc
United Stationers
United Therapeutics Corp	62,912	105,242
Unum Group
US Bancorp
Vector Group LTD
Waste Mgmt Inc
Wells Fargo & Co	369,861	597,960
Western Digital Corp
Woodward Inc
Worthington Industries
Wyndham Worlwide Corp
Xerox Corporation	486,707	520,551
Zimmer Holdings Inc
JPMORGAN CHASE	317,630	323,190
AETNA INC NEW COM	553,647	616,284
ALPHABET INC CL A	542,495	670,645
BECTON DICKINSON & CO COM	584,960	588,624
CLOROX COMPANY COMMON	564,124	603,711
COGNIZANT TECHNOLOGY SOLUTIONS CORP	599,973	594,798
EDWARDS LIFESCIENCES CORP	589,598	589,191
EXPRESS SCRIPTS HLDG CO COM	594,073	613,618
FACEBOOK INC	580,434	577,723
FOOT LOCKER INC	453,741	520,720
HCA HOLDING INC	595,084	540,364
HANCOCK HORIZON INTL SMALL CAP FUND CLAS	1,000,000	987,333
HARTFORD FINL SVCS GROUPINC	565,139	526,301
HESS CORP COM	604,433	391,234
HOME DEPOT INC COM	576,366	642,735
HUNTINGTON BANC	610,078	609,406
IPG PHOTONICS CORP	617,116	576,865
JONES LANG LASALLE INC	602,750	569,510
L BRANDS INC	599,967	635,287
NETFLIX INC	586,012	520,429
NIKE INC CL B	551,253	627,500
O'REILLY AUTOMOTIVE INC	555,856	554,990
PRICELINE GROUP INC	551,128	569,903
PROGRESSIVE CORP	554,374	597,204
RED HAT INC	620,201	621,075
ROPER INDUSTRIES INC	597,194	603,532
SNAP ON INC	518,577	594,862
TRACTOR SUPPLY CO	603,175	550,620
VERIZON COMMUNICATIONS COM	412,996	383,626
VISA INC	566,821	608,768
ALLERGAN PLC	131,928	640,625
ROWAN COMPANIES	552,611	484,940
LYONDELL BASEL INC	534,920	521,400
ROYAL CARIBBEAN CRUISES	582,150	628,514
APTARGROUP INC	105,930	103,890
ARGAN INC	110,196	95,742
BERRY PLASTICS	103,225	103,837
CALERES INC	53,890	81,801
CHILDRENS PLACE INC, THE	106,466	87,216
CIENA	101,895	92,484
CIRRUS LOGIC INC	95,735	85,991
COOPER TIRE & RUBER CO	98,365	96,782
DELUXE	65,447	91,627
DENNYS CORP	102,286	94,191
DOUGLAS DYNAMICS	97,874	94,604
E TRADE	102,984	115,596
FIRST REPUBLIC BANK	101,004	103,384
GIBRALTAR INDUSTRIES	105,378	98,580
HANOVER INSURANCE GROUP INC	542,044	573,447
HOLOGIC INC	94,082	114,638
INTERDIGITAL INC	98,599	92,195
INTL FCSTONE INC	100,197	128,319
ISLE OF CAPRI CASINOS INC	106,825	98,443
MATSON INC	97,355	119,108
MULTI-FINELINE ELECTRONIC INC	140,014	127,182
PAR PETROMEUM CORP	106,353	107,719
QUEST DIAGNOSTICDS INC	95,240	95,541
RUDOLPH TECH	111,205	118,595
SERVICEMASTER GLOBAL HOLDINGS	104,375	122,429
STAMPS.COM INC	96,437	130,436
TESSERA TECHNOLOGIES INC	106,962	81,027
VCA INC	95,548	99,165
VASCULAR SOLUTIONS INC	107,521	97,668
WISOMTREE INVESTMENTS INC	102,391	74,527
JAMES RIVER GRP HLDGS	98,861	118,061
MAIDEN	97,811	114,226
TRINSEO S.A.	96,900	101,661
CYPERARK SOFTWARE	101,272	84,186
AMERICAN SOFTWARE INC	15,193	14,761
ANIKA THERAPEUTICS INC	14,447	15,455
BASSETT FURNITURE INDS	12,181	11,286
CASCADE MICROTECH INC	15,051	17,144
CEVA INC	10,826	14,250
CHASE CORPORATION	15,174	15,885
CHUY'S HOLDINGS	14,320	13,476
CLEARONE INC	14,411	13,835
CROSS COUNTRY HEALTHCARE INC	13,807	13,440
DAWSON GEOPHYSICAL CO	14,640	11,591
DIAMOND HILL INVEST GRP	15,171	15,120
DIGI INTERNATIONAL	14,181	12,746
DOUGLAS DYNAMICS	14,139	14,117
EMC INS GROUP	15,517	17,078
EMPLOYERS HOLDINGS INC	13,869	16,653
ENTERCOM COMMUNICATIONS CORP	15,690	15,834
ENTEGRA FINANCIAL CORP	14,962	15,680
ENTERPRISE FINANCIAL SERVICES CORP	14,870	17,294
ENTERVISION COMMUNICATIONS CORP	14,326	12,722
FAIRPOINT COMMUNICATIONS	14,441	14,945
FEDERATED NATIONAL HOLDING CO	15,518	14,780
FIRST DEFIANCE FINL CORP	15,203	16,434
FONAR CORPORATION	14,769	17,433
GERMAN AMERICAN BANCOP	15,276	15,660
GLOBAL BRASS AND COPPER HOLDINGS	14,279	14,058
HACKETT GROUP INC	15,540	15,267
HALLMARK FINANCIAL SERVICES	14,494	14,729
HARDINGE INC	14,728	13,141
HEARTLAND FINANCIAL USA	14,976	13,798
HERITAGE INSURANCE HOLDINGS	15,306	15,383
HOOKER FURNITURE CORP	14,507	14,134
INSTEEL INDUSTRIES	13,804	12,343
INTLFCSTONE INC	15,081	15,726
ISLE OF CAPRI CASINOS INC	12,158	11,423
JACKSONBILLE BANCORP	14,300	14,048
LSI INDUSTRIES INC	13,777	17,066
LAKELAND BANCORP INC	13,945	14,148
LANKLAND INDUSTRIES	14,034	11,582
LEMAITRE VASCULAR INC	9,526	16,733
LYDALL	13,789	13,660
MAINSCOURCE FINL GROUP	15,031	17,046
MERCURY SYSTEMS	14,443	16,891
MONARCH CASINO & RESORT	15,295	18,290
MONSTER WORLDWIDE INC	14,810	12,262
NV5 HOLDINGS	14,740	13,628
NATIONAL RESERCH CORP	14,243	14,276
NATURAL HEALTH TRENDS CORP	7,882	10,730
NEOPHOTONICS CORP	15,321	17,919
NICHOLAS FINANCIAL	14,537	12,815
PATRICK INDUSTRIES INC	15,211	16,617
PETMED EXPRESS INC	15,125	15,769
POWERSECURE INTERNATIONAL	13,933	15,050
PREFERED BANK	12,033	14,199
PRIMO WATER CORP	14,256	13,200
REGIONAL MANAGEMENT CORP	13,906	12,067
REIS INC	15,154	14,713
REX AMERICAN RES CORP	15,390	14,058
RUDOLPH TECH	14,345	14,078
RUTH'S HOSPITALLITY GROUP	13,912	14,086
SEACOAST BANKING CORP	15,188	15,954
SIMULATIONS PLUS INC	15,131	16,649
SPARK ENERGY INC	14,822	17,819
SUPERIOR INDS INTL	15,068	14,368
UNIVERSAL INSURANCE HOLDINGS	13,957	14,835
ZAGG INC	10,697	14,769
STAR GAS PARTNERS LP	12,636	12,574

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Furniture and Fixtures	133,684	133,684
Machinery and Equipment	129,652	120,018	9,634	9,634
Buildings	8,168,484	2,658,070	5,510,414	5,510,414
Land	3,811,128		3,811,128	3,811,128

Category	Amount	Net Investment Income
HUNTER, HUNTER, SONNIER	20,592	20,592
JONES, WALKER	11,870	11,870
NOTARY	65	65

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
Other Assets	4,000	4,000	4,000
PRI-Apapeen Medical Inc	1,090,000	1,090,000	1,090,000
PRI-CATHETER ROBOTICS	1,589,500	1,589,500	1,589,500
PRI-CEREBRAL THERAPEUTICS		500,000	500,000
PRI-FELLOWSHIP Extension- MOIRAI	755,994	755,994	450,993
PRI-Fellowship Magnetic Technology			305,001
PRI-Fellowship of Orth-Direct Prosthesis	2,693,198	2,693,198	2,693,198
PRI-FELLOWSHIP OF ORTHO-MOIRAI	1,682,156	1,682,156	1,682,156
PRI-Fellowship Patellofemoral Joint	1,997,000	3,718,256	3,718,256
PRI-Integra Carbon Coating	230,400	230,400	230,400
PRI-Integra Radial Head	181,075	181,075	181,075
PRI-Integra Shoulder	993,532	993,532	993,532
PRI-Integra Silicone MCP	1,041,692	1,041,692	1,041,692
PRI-Lifestim-Stimulator	750,000	750,000	750,000
PRI-LSU-Fluoride Resin-Burgess	1,981,403	1,981,403	1,981,403
PRI-Neuropathway Research	1,100,000	1,100,000	1,100,000
PRI-Salk Institure-O'Shea Virus	68,081	68,081	68,081
PRI-SOUTH PIKE HOSPITAL ASSOC		1,500,000	1,500,000

Description	Amount
Net Working Interest Expense	197
Non Deductible Meals 50%	4,423

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Celebrations & Awards-SVC LRN	48,276			48,276
DUES & SUBSCRIPTIONS	47	16		31
Hammond Hwy Insurance	19,463	6,488	8,296	4,679
Hammond Hwy Prop Maint	142,230	15,803	60,619	65,807
Hammond Hwy Utilities	71,333	7,926	30,402	33,005
INSURANCE	4,198	1,399		2,799
Meals @ 50%	4,179	1,393		2,786
Meals @ 50% - Service Learning	244			244
Offsite Data Backup	1,360	453		907
PORTFOLIO DEDUCTIONS-K1'S	4,629	4,629
Postage	9,269	3,090		6,179
Repairs & Maintenance	152	51		101
Sundry - Bldg	60	7	26	28
Sundry Expenses	4,175	1,392		2,783
Supplies & Printing	15,813	5,271		10,542
Telephone	33,551	11,184		22,367

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Rental Income	212,553		212,553
Royalty Income-Oil & Gas	527,767	527,767
Royalty Income-PRI	304,660	304,660

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration
WillieJohn Williams	none	35,000		1994-11	2015-01	20 yrs	0 %	1303 S. Genois	low income house	mortgage note
12th WD Save Our Comm	none	110,000	23,080	1994-08	2014-08	20 yrs	280.00 %	2708-10-12-14 Gen Pershing	Community Service Bldg	mortgage note
Sonia Lyons	none	20,900	4,702	1995-08	2017-01	22 yrs	300.00 %	811 Pleasant	low income house	mortgage note
Family Youth Agency	none	500,000	25,000	1993-11	2014-12	20 yrs	0 %	220 Louie St Lk Charles	Abused Women's Shelter	mtg note/500,000
R Little R Little Jr	none	35,000	7,048	1996-05	2015-07	20 yrs	300.00 %	705-707 Valance Street	low income housing	mortgage note
Gail M Surtain	none	40,000	15,118	1997-11	2017-11	20 yrs	400.00 %	1490 Mandolin	low income house	mortgage note
HH 2507 Ernest	none	25,000	3,103	1998-01	2018-05	20 yrs	0 %	2507 Ernest, Lake Charles	low income house	mortgage note
Jessie B Taylor	none	40,000	10,053	1998-05	2018-07	20 yrs	500.00 %	2013-15 S. Saratoga	low income house	mortgage note
Volunteers of America	none	37,000	13,221	1999-02	2019-02	20 yrs	0 %	127-29 S. Rendon Street	homeless shelter	mortgage note
Volunteers of America	none	51,000	18,224	1999-02	2019-02	20 yrs	550.00 %	209-211 S. Gayoso Street	homeless shelter	mortgage note
Volunteers of America	none	49,000	17,509	1999-02	2019-02	20 yrs	550.00 %	212-2121/2-214 S. Gayoso	homeless shelter	mortgage note
Annie Webster	none	45,000	18,385	2000-09	2021-01	20 yrs	500.00 %	3019-21 Chippewa St.	low income house	mortgage note
Ernest Nelly Rome Sr	none	45,000	15,890	2000-01	2020-03	20 yrs	500.00 %	823-825 N. Lopez St.	low income house	mortgage note
W B C Brown	none	40,000	141	2000-03	2020-10	20 yrs	500.00 %	1208-1210 Louisa St.	low income house	mortgage note
JohnLinda Sanders	none	40,000	21,386	2001-12	2022-07	20 yrs	500.00 %	4912 S. Robertson	low income house	mortgage note
Volunteers of America	none	28,000	10,005	1999-02	2019-02	20 yrs	550.00 %	230-32 S. Dupre Street	homeless shelter	mortgage note

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
HSSK LLC	15,750	7,875	7,875
INNOVATIVE/ATLAS ONE-COMPUTER TECH	11,400	0	11,400
INVESTMENT FEES	276,680	276,680	0
VIDEOGRAPHER	600	300	300

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
990 PF Tax Paid	215,000
Filing Fees	242	121	121
FOREIGN TAX PAID	1,732	1,732
Payroll Taxes	26,290	9,192	17,098
Real Estate Tax	81	81