TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2015

Open to Public Inspection

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

Name of foundation
FREDERICK KALMBACH CHARITABLE REMAINDER

Number and street (or P.O. box number if mail is not delivered to street address)1340 BROADCASTING ROAD SUITE 100
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WYOMISSING, PA19610

A Employer identification number

22-6742794

B Telephone number (see instructions)

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

$4,781,519J 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)	1,965
2	Check Sch. B .............
3	Interest on savings and temporary cash investments	93		93	93
4	Dividends and interest from securities...	121,019		121,245	96,081
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		60,960
b	Gross sales price for all assets on line 6a 741,532
7	Capital gain net income (from Part IV, line 2)...			60,960
8	Net short-term capital gain.........				1,353
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	184,037		182,298	97,527
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		27,366	27,366	27,366	0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		3,731	324		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		169,059		156,669	12,390
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	200,156		27,690	184,035	12,390
25	Contributions, gifts, grants paid.......	250				250
26	Total expenses and disbursements. Add lines 24 and 25	200,406		27,690	184,035	12,640
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-16,369
b	Net investment income (if negative, enter -0-)			154,608
c	Adjusted net income (if negative, enter -0-)...				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.............	-157	1,055	1,055
	2	Savings and temporary cash investments.........	104,486	75,980	75,980
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	806	975	975
	10a	Investments—U.S. and state government obligations (attach schedule)	1,048,042	1,029,896	1,040,405
	b	Investments—corporate stock (attach schedule).......	1,084,735	1,170,258	1,902,773
	c	Investments—corporate bonds (attach schedule).......	440,030	452,389	438,374
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	794,187	727,042	771,957
	14	Land, buildings, and equipment: basis 550,000
		Less: accumulated depreciation (attach schedule)	550,000	550,000	550,000
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,022,129	4,007,595	4,781,519
	17	Accounts payable and accrued expenses..........	1,853	3,688
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	1,853	3,688
		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........	4,020,276	4,003,907
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	4,020,276	4,003,907
	31	Total liabilities and net assets/fund balances (see instructions).	4,022,129	4,007,595

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

4,020,276

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

-16,369

Other increases not included in line 2 (itemize) bullet

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

4,003,907

Decreases not included in line 2 (itemize) bullet

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

4,003,907

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	3262. ALLIANZ NFJ DIVIDEND VALUE FUND		2010-09-28	2015-10-07
b	10. AMETEK INC COM		2015-04-29	2015-05-04
c	15. AMETEK INC COM		2012-08-27	2015-05-04
d	110. ARCHER DANIELS MIDLAND CO COM		2015-02-17	2015-11-13
e	534.44 ARTISAN INTERNATIONAL FD-INV		2013-10-10	2015-04-29
	150. BB&T CORPORATION COM		2015-02-17	2015-08-31
	125. BB&T CORPORATION COM		2015-05-12	2015-08-31
	175. BAXALTA INC COM		2012-11-27	2015-07-21
	175. BAXTER INTL INC COM		2012-11-27	2015-07-21
	66. CHEVRONTEXACO CORP COM		2009-05-27	2015-02-13
	5000. COCA COLA CO DTD 03/06/2009 4.875% 03/15		2014-12-23	2015-03-30
	30000. COCA COLA CO DTD 03/06/2009 4.875% 03/15		2012-09-05	2015-03-30
	.4 COMMERCE BANCSHARES INC COM		2015-10-08	2015-12-14
	5. CRANE CO COM		2015-04-29	2015-12-16
	55. CRANE CO COM		2014-01-08	2015-12-16
	5. CRANE CO COM		2015-10-08	2015-12-16
	791.71 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-01-15
	890.41 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-02-17
	872.33 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-03-16
	955.29 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-04-15
	872.46 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-05-15
	708.79 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-06-15
	859.64 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-07-15
	820.43 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-08-17
	685.38 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-09-15
	666.2 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-10-15
	702.95 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-11-16
	577.2 FHLMC POOL # G03432 DTD 10/01/2007 5.5%		2012-08-27	2015-12-15
	549.79 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-01-15
	450.83 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-02-17
	588.01 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-03-16
	687.8 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-04-15
	650.01 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-05-15
	656.74 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-06-15
	569.22 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-07-15
	609.3 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-08-17
	451.89 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-09-15
	447.01 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-10-15
	387.59 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-11-16
	299.05 FHLMC POOL # G05849 DTD 04/01/2010 4.5%		2012-09-19	2015-12-15
	526.11 FHLMC POOL #G08344 DTD 05/01/2009 4.5% 0		2015-11-05	2015-12-15
	656.47 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-01-15
	540.04 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-02-17
	766.9868 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-03-16
	958.7332 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-03-16
	756.5201 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-04-15
	945.6499 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-04-15
	542.5388 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-05-15
	434.0312 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-05-15
	504.6999 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-06-15
	403.7601 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-06-15
	352.3601 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-07-15
	440.4499 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-07-15
	250.2578 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-08-17
	312.8222 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-08-17
	280.2444 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-09-15
	224.1956 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-09-15
	261.7067 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-10-15
	327.1333 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-10-15
	317.9111 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-11-16
	254.3289 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-11-16
	283.5444 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2014-07-25	2015-12-15
	226.8356 FHLMC POOL # FG G08592 DTD 06/01/2014 4%		2015-02-10	2015-12-15
	116.38 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-01-15
	163.45 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-02-17
	431.84 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-03-16
	612.65 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-04-15
	504.96 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-05-15
	496.89 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-06-15
	299.3 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-07-15
	193.29 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-08-17
	161.72 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-09-15
	206.08 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-10-15
	237.03 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-11-16
	273.34 FHLMC POOL #GO8615 DTD 11/1/2014 3.5% 11		2014-12-08	2015-12-15
	231.31 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-04-15
	253.13 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-05-15
	328.45 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-06-15
	361.7 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-07-15
	352.24 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-08-17
	406.09 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-09-15
	393.87 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-10-15
	446. FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-11-16
	512.3 FHLMC POOL #G08627 DTD 02/01/2015 3.5% 0		2015-03-16	2015-12-15
	268.3 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-01-15
	222.01 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-02-17
	370.49 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-03-16
	584.26 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-04-15
	420.49 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-05-15
	299.94 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-06-15
	269.94 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-07-15
	251.64 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-08-17
	196.43 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-09-15
	236.92 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-10-15
	166.83 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-11-16
	216.95 FHLMC POOL # C03565 DTD 12/01/2010 4% 12		2012-08-27	2015-12-15
	132.85 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-01-15
	118.77 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-02-17
	143.19 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-03-16
	211.88 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-04-15
	147.39 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-05-15
	164.01 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-06-15
	171.46 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-07-15
	140.21 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-08-17
	101.02 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-09-15
	93.7 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-10-15
	128.01 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-11-16
	99.15 FHLMC POOL #A95825 DTD 12/01/2010 4% 12/		2012-09-19	2015-12-15
	180.08 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-01-15
	167.11 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-02-17
	260.04 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-03-16
	355.13 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-04-15
	262.82 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-05-15
	323.38 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-06-15
	327.56 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-07-15
	240.18 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-08-17
	257.61 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-09-15
	223.09 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-10-15
	207.22 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-11-16
	257.35 FHLMC POOL # A96409 DTD 01/01/2011 3.5%		2013-01-22	2015-12-15
	285.24 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-01-26
	169.39 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-02-25
	234.05 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-03-25
	344.12 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-04-27
	271.19 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-05-26
	334.15 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-06-25
	312.52 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-07-27
	300.29 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-08-25
	204.69 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-09-25
	264.81 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-10-26
	223.06 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-11-25
	171.88 FNMA POOL #AH3394 DTD 01/01/2011 4% 01/0		2013-05-16	2015-12-28
	605.1 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-01-26
	420.57 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-02-25
	558.36 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-03-25
	778.15 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-04-27
	833.36 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-05-26
	888.83 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-06-25
	1053.93 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-07-27
	672.12 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-08-25
	732.78 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-09-25
	494.59 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-10-26
	483.14 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-11-25
	447.2 FNMA POOL #AL0065 DTD 03/01/2011 4.5% 0		2013-05-16	2015-12-28
	659.49 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-01-26
	546.33 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-02-25
	542.72 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-03-25
	708.71 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-04-27
	648.27 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-05-26
	616.23 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-06-25
	707.6 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-07-27
	606.24 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-08-25
	573.35 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-09-25
	576.21 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-10-26
	573.48 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-11-25
	415.69 FNMA POOL # 745275 DTD 01/01/2006 5% 02/		2014-04-21	2015-12-28
	491.76 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-01-26
	443.12 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-02-25
	538.31 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-03-25
	528.17 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-04-27
	606.59 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-05-26
	507.25 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-06-25
	489.91 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-07-27
	503.75 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-08-25
	481.65 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-09-25
	467.32 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-10-26
	456.98 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-11-25
	406.24 FNMA POOL # 745515 DTD 04/01/2006 5% 05/		2014-02-24	2015-12-28
	376.88 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-01-26
	321.73 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-02-25
	385.51 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-03-25
	384.86 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-04-27
	515.3 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-05-26
	463.27 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-06-25
	558.33 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-07-27
	382.4 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-08-25
	410.2 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-09-25
	225.12 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-10-26
	288.05 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-11-25
	206.15 FNMA POOL # 995672 DTD 04/01/2009 4.5% 0		2012-08-27	2015-12-28
	544.89 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-01-26
	398.56 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-02-25
	410.7118 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-03-25
	528.0582 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-03-25
	551.8362 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-04-27
	709.5038 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-04-27
	597.51 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-05-26
	464.73 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-05-26
	452.025 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-06-25
	581.175 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-06-25
	455.3325 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-07-27
	585.4275 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-07-27
	628.7344 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-08-25
	489.0156 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-08-25
	414.3693 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-09-25
	532.7607 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-09-25
	404.9663 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-10-26
	314.9737 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-10-26
	468.8044 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-11-25
	364.6256 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-11-25
	308.8531 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2015-02-10	2015-12-28
	397.0969 FNMA POOL #AE0217 DTD 07/01/2010 4.5% 08		2014-02-24	2015-12-28
	302.07 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-01-26
	170.12 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-02-25
	335.86 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-03-25
	387.56 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-04-27
	341.38 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-05-26
	372.75 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-06-25
	367.08 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-07-27
	493.54 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-08-25
	160.28 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-09-25
	285.52 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-10-26
	264.63 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-11-25
	208.45 FNMA POOL #AE5471 DTD 10/01/2010 4.5% 10		2012-09-20	2015-12-28
	300. GENERAL ELECTRIC CO COM		1993-07-06	2015-02-17
	25. GENERAL ELECTRIC CO COM		1993-07-06	2015-05-12
	50. GLOBAL PAYMENTS INC COM		2014-03-07	2015-01-09
	135. HANCOCK HOLDING CO COM		2014-01-08	2015-12-09
	5. HANCOCK HOLDING CO COM		2015-04-29	2015-12-09
	40. HANCOCK HOLDING CO COM		2015-07-17	2015-12-09
	110. HANESBRANDS INC COM		2013-06-25	2015-11-11
	15. HANESBRANDS INC COM		2015-04-29	2015-11-11
	20. HANESBRANDS INC COM		2015-10-08	2015-11-11
	10. HEALTH NET INC COM		2015-04-29	2015-07-17
	70. HEALTH NET INC COM		2014-08-25	2015-07-17
	676.52 HENDERSON INTERNATIONAL OPPORTUNITIES FU		2013-03-27	2015-04-29
	51. INTERNATIONAL BUS MACHS CORP COM		2010-05-12	2015-05-12
	10. J2 GLOBAL INC		2015-10-08	2015-11-11
	5. J2 GLOBAL INC		2015-04-29	2015-11-11
	15. J2 GLOBAL INC		2014-07-08	2015-11-11
	100. LABORATORY CRP OF AMER HLDGS COM		2015-02-17	2015-11-13
	15. MSCI INC COM		2014-01-08	2015-03-26
	50. MSCI INC COM		2014-01-08	2015-05-04
	5. MSCI INC COM		2015-04-29	2015-05-04
	100. MICROSOFT CORP COM		2003-09-10	2015-11-13
	30. MINERALS TECHNOLOGIES INC COM		2012-09-05	2015-03-26
	100. NIKE INC CL B COM		2005-10-11	2015-05-12
	170. OLIN CORP COM		2014-04-04	2015-01-09
	25. OLIN CORP COM		2014-08-25	2015-01-09
	70. OMNICARE INC COM		2012-08-27	2015-05-21
	5382.131 PIMCO FDS PAC INVT MGMT SER HIGH YLD FD INSTL CL		2006-09-25	2015-04-29
	5208. PIMCO FDS PAC INVT MGMT SER HIGH YLD FD INSTL CL		2006-09-15	2015-10-07
	70. ROSS STORES COM		2012-08-27	2015-01-09
	34.758 T ROWE PRICE INTERNATIONAL DISCOVERY FUN		2015-04-29	2015-09-01
	214. SYSCO CORP COM		2009-05-27	2015-02-17
	10000. US TREASURY NOTE DTD 12/02/2013 1.25% 11		2014-03-17	2015-03-16
	35000. US TREASURY NOTE DTD 12/02/2013 1.25% 11		2013-12-23	2015-03-16
	20000. US TREASURY NOTE DTD 01/31/2014 1.5% 01/		2014-02-25	2015-12-23
	10000. US TREASURY NOTE DTD 01/31/2014 1.5% 01/		2014-12-23	2015-12-23
	25000. US TREASURY NOTE DTD 06/30/2011 2.375% 0		2012-09-05	2015-12-23
	10000. US TREASURY NOTE DTD 06/30/2011 2.375% 0		2014-12-23	2015-12-23
	30000. US TREASURY NOTE DTD 08/31/2011 1.5% 08/		2013-09-24	2015-12-17
	5000. US TREASURY NOTE DTD 08/31/2011 1.5% 08/		2014-12-23	2015-12-17
	30000. US TREASURY DTD 05/31/2013 1.375% 05/31/		2013-06-25	2015-12-15
	10000. US TREASURY DTD 05/31/2013 1.375% 05/31/		2014-12-23	2015-12-15
	25000. US TREASURY NOTE DTD 04/30/2014 2.25% 04		2014-04-25	2015-12-23
	5. UNITED THERAPEUTICS CORP COM		2015-04-29	2015-05-04
	40. UNITED THERAPEUTICS CORP COM		2013-09-25	2015-05-04
	820. WAL-MART STORES COM		2004-10-22	2015-11-13
	5. ZEBRA TECHNOLOGIES CORP CL A COM		2015-04-29	2015-05-21
	10. ZEBRA TECHNOLOGIES CORP CL A COM		2013-02-25	2015-05-21
	45. ZEBRA TECHNOLOGIES CORP CL A COM		2013-02-25	2015-07-17
	200. MEDTRONIC PLC COM		2014-08-01	2015-07-21
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	50,985	34,806	16,179
b	530	526	4
c	796	519	277
d	4,150	5,257	-1,107
e	17,006	15,789	1,217
	5,520	5,777	-257
	4,600	4,908	-308
	5,623	5,314	309
	6,610	6,236	374
	7,426	4,275	3,151
	5,640	5,628	12
	33,839	35,609	-1,770
	17	18	-1
	231	309	-78
	2,542	3,792	-1,250
	231	252	-21
	792	861	-69
	890	968	-78
	872	948	-76
	955	1,039	-84
	872	949	-77
	709	771	-62
	860	935	-75
	820	892	-72
	685	745	-60
	666	724	-58
	703	764	-61
	577	628	-51
	550	592	-42
	451	485	-34
	588	633	-45
	688	740	-52
	650	700	-50
	657	707	-50
	569	613	-44
	609	656	-47
	452	486	-34
	447	481	-34
	388	417	-29
	299	322	-23
	526	569	-43
	656	693	-37
	540	570	-30
	767	822	-55
	959	1,012	-53
	757	811	-54
	946	998	-52
	543	573	-30
	434	465	-31
	505	533	-28
	404	433	-29
	352	378	-26
	440	465	-25
	250	268	-18
	313	330	-17
	280	296	-16
	224	240	-16
	262	281	-19
	327	345	-18
	318	336	-18
	254	273	-19
	284	299	-15
	227	243	-16
	116	121	-5
	163	169	-6
	432	448	-16
	613	635	-22
	505	524	-19
	497	515	-18
	299	310	-11
	193	200	-7
	162	168	-6
	206	214	-8
	237	246	-9
	273	283	-10
	231	242	-11
	253	264	-11
	328	343	-15
	362	378	-16
	352	368	-16
	406	424	-18
	394	411	-17
	446	466	-20
	512	535	-23
	268	287	-19
	222	237	-15
	370	396	-26
	584	624	-40
	420	449	-29
	300	320	-20
	270	288	-18
	252	269	-17
	196	210	-14
	237	253	-16
	167	178	-11
	217	232	-15
	133	143	-10
	119	128	-9
	143	154	-11
	212	228	-16
	147	158	-11
	164	176	-12
	171	184	-13
	140	151	-11
	101	108	-7
	94	101	-7
	128	137	-9
	99	106	-7
	180	191	-11
	167	177	-10
	260	275	-15
	355	376	-21
	263	278	-15
	323	342	-19
	328	347	-19
	240	254	-14
	258	273	-15
	223	236	-13
	207	219	-12
	257	273	-16
	285	304	-19
	169	181	-12
	234	250	-16
	344	367	-23
	271	289	-18
	334	357	-23
	313	334	-21
	300	320	-20
	205	218	-13
	265	283	-18
	223	238	-15
	172	183	-11
	605	652	-47
	421	453	-32
	558	602	-44
	778	839	-61
	833	898	-65
	889	958	-69
	1,054	1,136	-82
	672	725	-53
	733	790	-57
	495	533	-38
	483	521	-38
	447	482	-35
	659	721	-62
	546	597	-51
	543	593	-50
	709	775	-66
	648	709	-61
	616	674	-58
	708	774	-66
	606	663	-57
	573	627	-54
	576	630	-54
	573	627	-54
	416	455	-39
	492	537	-45
	443	484	-41
	538	588	-50
	528	577	-49
	607	662	-55
	507	554	-47
	490	535	-45
	504	550	-46
	482	526	-44
	467	510	-43
	457	499	-42
	406	444	-38
	377	407	-30
	322	348	-26
	386	416	-30
	385	416	-31
	515	557	-42
	463	500	-37
	558	603	-45
	382	413	-31
	410	443	-33
	225	243	-18
	288	311	-23
	206	223	-17
	545	584	-39
	399	427	-28
	411	449	-38
	528	566	-38
	552	603	-51
	710	760	-50
	598	640	-42
	465	508	-43
	452	494	-42
	581	622	-41
	455	497	-42
	585	627	-42
	629	673	-44
	489	534	-45
	414	453	-39
	533	571	-38
	405	434	-29
	315	344	-29
	469	502	-33
	365	398	-33
	309	337	-28
	397	425	-28
	302	327	-25
	170	184	-14
	336	364	-28
	388	420	-32
	341	370	-29
	373	404	-31
	367	398	-31
	494	535	-41
	160	174	-14
	286	309	-23
	265	287	-22
	208	226	-18
	7,530	4,376	3,154
	675	365	310
	4,263	3,636	627
	3,466	4,754	-1,288
	128	145	-17
	1,027	1,152	-125
	3,452	1,392	2,060
	471	465	6
	628	591	37
	684	538	146
	4,787	3,105	1,682
	19,666	16,753	2,913
	8,716	6,667	2,049
	790	781	9
	395	351	44
	1,185	758	427
	11,982	11,733	249
	894	656	238
	3,116	2,187	929
	312	313	-1
	5,296	2,809	2,487
	2,154	1,034	1,120
	10,235	2,072	8,163
	3,772	4,754	-982
	555	693	-138
	6,728	2,260	4,468
	50,000	52,641	-2,641
	45,778	50,380	-4,602
	6,676	4,753	1,923
	1,831	1,984	-153
	8,436	5,109	3,327
	9,981	9,884	97
	34,934	34,351	583
	20,069	19,978	91
	10,034	9,982	52
	25,734	26,890	-1,156
	10,294	10,353	-59
	30,199	30,103	96
	5,033	5,016	17
	29,616	28,730	886
	9,872	9,784	88
	25,512	24,980	532
	852	821	31
	6,818	3,077	3,741
	46,201	42,287	3,914
	538	472	66
	1,077	449	628
	5,067	2,020	3,047
	15,237	12,312	2,925
			8,588

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			16,179
b			4
c			277
d			-1,107
e			1,217
			-257
			-308
			309
			374
			3,151
			12
			-1,770
			-1
			-78
			-1,250
			-21
			-69
			-78
			-76
			-84
			-77
			-62
			-75
			-72
			-60
			-58
			-61
			-51
			-42
			-34
			-45
			-52
			-50
			-50
			-44
			-47
			-34
			-34
			-29
			-23
			-43
			-37
			-30
			-55
			-53
			-54
			-52
			-30
			-31
			-28
			-29
			-26
			-25
			-18
			-17
			-16
			-16
			-19
			-18
			-18
			-19
			-15
			-16
			-5
			-6
			-16
			-22
			-19
			-18
			-11
			-7
			-6
			-8
			-9
			-10
			-11
			-11
			-15
			-16
			-16
			-18
			-17
			-20
			-23
			-19
			-15
			-26
			-40
			-29
			-20
			-18
			-17
			-14
			-16
			-11
			-15
			-10
			-9
			-11
			-16
			-11
			-12
			-13
			-11
			-7
			-7
			-9
			-7
			-11
			-10
			-15
			-21
			-15
			-19
			-19
			-14
			-15
			-13
			-12
			-16
			-19
			-12
			-16
			-23
			-18
			-23
			-21
			-20
			-13
			-18
			-15
			-11
			-47
			-32
			-44
			-61
			-65
			-69
			-82
			-53
			-57
			-38
			-38
			-35
			-62
			-51
			-50
			-66
			-61
			-58
			-66
			-57
			-54
			-54
			-54
			-39
			-45
			-41
			-50
			-49
			-55
			-47
			-45
			-46
			-44
			-43
			-42
			-38
			-30
			-26
			-30
			-31
			-42
			-37
			-45
			-31
			-33
			-18
			-23
			-17
			-39
			-28
			-38
			-38
			-51
			-50
			-42
			-43
			-42
			-41
			-42
			-42
			-44
			-45
			-39
			-38
			-29
			-29
			-33
			-33
			-28
			-28
			-25
			-14
			-28
			-32
			-29
			-31
			-31
			-41
			-14
			-23
			-22
			-18
			3,154
			310
			627
			-1,288
			-17
			-125
			2,060
			6
			37
			146
			1,682
			2,913
			2,049
			9
			44
			427
			249
			238
			929
			-1
			2,487
			1,120
			8,163
			-982
			-138
			4,468
			-2,641
			-4,602
			1,923
			-153
			3,327
			97
			583
			91
			52
			-1,156
			-59
			96
			17
			886
			88
			532
			31
			3,741
			3,914
			66
			628
			3,047
			2,925

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	60,960
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	1,353

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
2013
2012
2011
2010

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

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 . . .

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

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

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

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

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

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	3,092
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	3,092
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	3,092
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	3,052
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	3,052
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	40
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax0	Refunded	11	0

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

Yes

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.kalmbachpark.com

The books are in care of bullet

NATIONAL PENN INVESTORS TRUST CO Telephone no. bullet

(610) 372-6414

Located at bullet

1340 BROADCASTING ROAD SUITE 100WYOMISSINGPA ZIP+4 bullet

19610

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

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

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

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

16 No

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

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2015)

Page 6

Part VII-B

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2015)

Page 7

Part VIII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
JOHN H ALBRIGHT	CO-TRUSTEE 1	0
20 W MAIN STREET MACUNGIE,PA18062	CO-TRUSTEE 1	0
DALE A DRIES	CO-TRUSTEE 1	0
7722 ST PETERS ROAD MACUNGIE,PA18062	CO-TRUSTEE 1	0
DONALD S YOUNG	CO-TRUSTEE 1	0
6272 MOUNTAIN ROAD MACUNGIE,PA18062	CO-TRUSTEE 1	0

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


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









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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
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	MACUNGIE HISTORICAL SOCIETY 510 E MAIN STREET MACUNGIE, PA 18062	250
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......................... bullet

Form 990-PF (2015)

Page 8

Part X

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

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

purposes:

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

4,229,609

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

59,788

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

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

4,289,397

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

4,289,397

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

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

64,341

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

4,225,056

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

211,253

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

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

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

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

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

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

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

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

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

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 ..........

12,640

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

12,640

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

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

12,640

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

Form 990-PF (2015)

Page 9

Part XIII

Undistributed Income (see instructions)

	(a) Corpus	(b) Years prior to 2014	(c) 2014	(d) 2015
1 Distributable amount for 2015 from Part XI, line 7				0
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......			0
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2015:
a From 2010......
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: $
a Applied to 2014, but not more than line 2a			0
b Applied to undistributed income of prior years (Election required—see instructions).....		0
c Treated as distributions out of corpus (Election required—see instructions)........	0
d Applied to 2015 distributable amount.....
e Remaining amount distributed out of corpus
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
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 ......
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

2003-11-05

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
	0				0
b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....	12,640	8,903	7,667	12,400	41,610
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 ....	12,640	8,903	7,667	12,400	41,610
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	4,781,519	4,921,443	4,796,736	4,492,320	18,992,018
(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...	140,835				140,835
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:

MICHAEL MCCREADY
200 COTTON STREET
MACUNGIE,PA18062
(610) 965-1140

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

SEE ATTACHED STATEMENT

cAny submission deadlines:

SEE ATTACHED STATEMENT

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

SEE ATTACHED STATEMENT

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
MACUNGIE HISTORICAL SOCIETY 510 E MAIN STREET MACUNGIE,PA18062	NONE	N.A.	GENERAL CONTRIBUTION	250
Total ................................. 3a				250

bApproved for future payment

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

Form 990-PF (2015)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	93
4 Dividends and interest from securities....			14	121,019
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	60,960
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)..				182,072

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

13182,072

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2015)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BANK OF NY MELLON DTD 9/23/11	42,500	41,960
JPMORGAN CHASE & CO DTD 10/21	49,196	47,738
CONSOLIDATED EDISON CO DTD 4/1	41,779	37,845
COCA COLA CO DTD 3/6/09 4.875%	36,893	36,214
GLAXOSMITHKLINE CAP INC DTD	41,461	38,146
MERCK & CO DTD 12/10/10 3.875%	49,447	48,243
OCCIDENTAL PETROLEUM CORP	33,311	31,475
GEN ELEC CAP 1/7/11 4.625%	44,798	43,935
WELLS FARGO CO 3/8/12 3.5%	36,623	36,062
TARGET CORP 1/12/12 2.9%	50,863	50,857
APPLE INC DTD 5/6/2014	25,518	25,899

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AMERICAN ELEC PWR INC	9,274	16,316
AT&T INC	22,318	34,685
COCA COLA CO	38,277	77,328
EXXON MOBIL CORP	32,547	62,360
GABELLI CONV & INC FD PFD	52,074	56,406
GENERAL ELEC CO
INTEL CORP	52,728	86,125
JOHNSON & JOHNSON	35,127	65,844
MICROSOFT CORP	71,448	160,892
NIKE INC CL B	22,795	137,500
PEPSICO INC	37,670	96,922
PROCTOR & GAMBLE CO	16,497	30,970
TVA PREFERRED SERIES A 5/1/29	76,636	79,584
TVA PREFERRED SERIES D 6/1/28	98,634	105,051
UNITED TECHNOLOGIES CORP	33,588	76,856
WAL MART STORES INC
ABBOTT LABS	30,266	57,036
BUCKEYE PARTNERS LP	30,755	32,980
FOOT LOCKER INC	2,868	3,255
HOME DEPOT INC	4,010	22,615
ALTRIA GROUP INC	3,784	12,923
PHILIP MORRIS INTERNATIONAL	4,564	9,494
COLGATE PALMOLIVE CO	10,645	13,324
WALGREEN CO	3,970	11,155
UNITEDHEALTH GROUP INC	5,236	21,410
3M CO	4,277	11,449
ILLINOIS TOOL WORKS INC	3,749	10,658
BANK HAWAII CORP	4,528	4,403
LEIDO HOLDINGS	4,177	4,220
MARSH & MCLENNAN COS INC	3,892	7,985
ADVANCE AUTO PARTS INC	3,473	6,020
AMETEK INC	4,367	6,431
APPLE INC	11,707	14,736
BALL CORP	8,958	14,546
BEMIS COMPANY	4,976	4,916
BROADRIDGE FINL SOL LLC	2,942	5,910
CADENCE DESIGN SYTEMS INC	2,860	4,266
CH ROBINSON WORLDWIDE INC	9,771	9,303
CHURCH AND DWIGHT CO INC	4,270	6,366
COMMERCE BANCSHARES INC	5,541	6,594
CISCO SYSTEMS INC	10,440	10,862
DISCOVER FINANCIAL SERVICES	8,168	10,724
FACTSET RESEARCH SYSTEMS INC	4,543	7,316
ARTHUR J GALLAGHER & CO	3,423	3,685
GENERAL MILLS INC	8,138	11,532
HARRIS CORPORATION	4,317	6,952
HORMEL FOODS CORP	2,755	6,722
HUBBELL INC CL B	3,460	4,042
J2 GLOBAL INC	2,153	6,174
L-3 COMMUNICATIONS HOLDINGS	2,662	4,183
MCCORMICK & COMPANY INC	12,639	17,112
MCKESSON HBOC INC	9,653	19,723
MACYS	14,322	6,996
ORACLE CORP	6,690	7,306
PANERA BREAD COMPANY CL A	3,136	3,896
QUALCOMM INC	12,482	9,997
RAYTHEON CO	8,092	17,434
TORO CO	4,405	7,672
TUPPERWARE BRANDS CORP	2,806	2,783
US BANCORP	14,481	16,641
VALSPAR CORPORATION	5,255	7,466
VARIAN MEDICAL SYSTEMS INC COM	7,853	8,080
WADDELL & REED FINANCIAL INC	4,879	3,439
WATSCO INC	4,344	5,857
WEBSTER FINANCIAL CORP	6,444	7,066
WORLD FUEL SERVICES CORP	3,402	3,269
PAREXEL INTL CORP	6,273	6,471
ABBVIE INC COM	25,136	59,240
BIG LOTS INC	2,181	2,120
DELUXE CORP	5,581	7,090
DOVER CORP	11,905	10,116
HANESBRANDS NC	1,392	3,237
TORCHMARK CORP	7,241	8,574
UNION PACIFIC CORP	7,808	7,820
UNITED THERAPEUTICS	2,164	3,915
PPG INDS INC	11,868	39,528
TE CONNECTIVITY LTD COM	6,420	8,076
BROWN AND BROWN INC	6,114	6,099
GENUINE PARTS INC	16,574	17,178
GILEAD SCIENCES	12,922	11,131
HSN INC	4,747	3,294
HOLLYFRONTIER CORP COM	3,852	3,191
MAN POWER GROUP INC	3,012	2,950
MEDNAX INC COM	5,438	6,091
MCDONALDS	11,036	12,995
MEREDITH CORP COM	4,818	4,109
SCHLUMBERGER LTD COM	6,863	6,278
DICKS SPORTING GOODS	5,218	3,358
DR PEPPER AND SNAPPLE GROUP	7,825	8,388
FRANKLIN RESOURCES INC	11,018	9,941
SHERWIN WILLIAMS CO	2,124	10,124
SILGAN HOLDINGS INC	5,358	5,103
SIRONA DENTAL SYSTEMS INC	6,415	7,122
SYNOPSYS INC	4,524	4,105
TJX COMPANIES INC	12,897	14,182
TRUST MARK CORP	5,393	5,184
BAXTER INTL INC
CHEVRON CORPORATION
CRANE CO
GLOBAL PAYMENTS INC
HANCOCK HOLDING CO
HEALTH NET INC
INTERNATIONAL BUS MACHS CORP
MSCI INC
MEDTRONIC INC
MINERALS TECHNOLOGIES INC
OLIN CORP
OMNICARE INC
ROSS STORES
SYSCO CORP
ZEBRA TECHNOLOGIES CORP CL A

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
PIMCO HIGH-YIELD FD CL INST	AT COST	105,487	90,417
LAZARD U S CORP INCOME PORT	AT COST	57,000	57,247
ALLIANZ NFJ DIVIDEND VAL INS	AT COST	34,804	50,135
VANGUARD HIGH-YIELD CORP	AT COST	50,000	47,676
ARTISAN INTERNATIONAL FD	AT COST	99,511	115,569
HENDERSON INTERNATIONAL OPP	AT COST	88,496	111,587
CONESTOGA SMALL CAP	AT COST	56,969	82,485
GOLDMAN SACHS SATELLITE STRATE	AT COST	153,600	139,425
T ROWE DISCOVERY FUND	AT COST	81,175	77,416

Description	Revenue and Expenses per Books	Adjusted Net Income	Disbursements for Charitable Purposes
ADVERTISING	1,832	1,832	0
BOOKS	83	83	0
COMPUTER	535	535	0
LEGAL EXPENSE	50	50	0
MISCELLANEOUS ADMINISTRATIVE	297	297	0
OFFICE SUPPLIES	766	766	0
PAYROLL SERVICE FEE	1,065	1,065	0
TELEPHONE SERVICE	1,286	1,286	0
PAYROLL SALARIES AND BENEFITS	96,005	96,005	0
GUEST SPEAKERS	3,925		3,925
PROGRAMS OFF SITE	2,754		2,754
PROGRAMS OUTDOOR	3,610		3,610
PROGRAM SUPPLIES	316		316
REFRESHMENTS	1,785		1,785
CLEANING/PAPER SUPPLIES	436	436	0
DECORATING SUPPLIES	222	222	0
HVAC CONTRACT	822	822	0
KITCHEN SUPPLIES	102	102	0
MAINTENANCE SUPPLIES	1,326	1,326	0
MISCELLANEOUS OPERATING	172	172	0
MULCH	1,870	1,870	0
PLANTINGS	602	602	0
PROJECTS OUTDOOR	2,496	2,496	0
REPAIRS	3,845	3,845	0
SECURITY CONTRACT	807	807	0
SNOW REMOVAL	710	710	0
TREE MAINTENANCE	825	825	0
VEHICLE/EQUIPMENT EXPENSES	2,657	2,657	0
UTILITIES EXPENSE	10,777	10,777	0
FIELD AND PINE FOREST CUTTING	360	360	0
INSURANCE EXPENSE	9,022	9,022	0
PORCH FURNITURE	2,045	2,045	0
SNOW BLOWER	1,699	1,699	0
SPECIAL PROJECTS	13,955	13,955	0

Category	Amount	Net Investment Income
FEDERAL TAX PAYMENT - PRIOR YE	355	0
FEDERAL ESTIMATES - PRINCIPAL	3,052	0
FOREIGN TAXES ON QUALIFIED FOR	172	172
FOREIGN TAXES ON NONQUALIFIED	152	152